Senate Democratic Leader Charles Schumer of New York and Treasury Secretary Steve Mnuchin are on the verge of a deal for a massive coronavirus stimulus package, reports The Hill. This, after the opposing sides settled disagreements over relief for the airline industry, beefed-up unemployment benefits and funds for hospitals.
According to the outlet's report shortly before 10 p.m. ET, Dmocratic senators participated in a briefing call Monday night on the latest developments.
A vote was reportedly expected as soon as Tuesday as lawmakers look to enact the measure the the face of an escalating pandemic. The epidemic sweeping the globe has shut down whole cities and struck hard at the economic health of the nation.
Shortly after 9 p.m., The Hill reported, Schumer said: "Secretary Mnuchin just left my office. We have had some very good discussions, and in fact the list of outstanding issues has narrowed significantly."
In a key concession to the Trump White House, Democrats have agreed to $25 billion in grants to U.S. airlines and $4 billion for cargo air carriers. The news report said still pending is written language from Mnuchin limiting stock buybacks and executive compensation for firms taking assistance from taxpayers.
In what The Hill called a concession to Dems, the deal taking form would provide upgraded jobless benefits for four months — up from the three months proposed by Republican negotiators, according to a person familiar with the briefing call.
Republicans have also agreed to provide $100 billion in funding for hospitals, $25 billion more than the proposal drafted in recent days by Republicans on an emergency supplemental spending package, according to the source familiar with the call.
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