House and Senate leaders have been working to finish up the Phase III Congressional stimulus/bailout bill all day, hinting that an agreement is hours away….
House Speaker Pelosi has reported that there will be more legislation coming to try pull the countries economy and health back up…
The stock market has had a HUGE rally on this action today…
Congressional negotiators signaled Tuesday they are likely hours away from clinching a bipartisan agreement on a nearly $2 trillion emergency stimulus package — capping five days of frenetic talks over a response to the coronavirus pandemic.
Senate Minority Leader Chuck Schumer and Treasury Secretary Steven Mnuchin are expected to announce an agreement later Tuesday, under immense pressure from President Donald Trump, a dire economic outlook and the growing number of Americans losing their livelihoods amid the crisis.
The Senate’s lead negotiators — Mnuchin, Schumer, Senate Majority Leader Mitch McConnell and White House legislative affairs director Eric Ueland — have spent most of Tuesday huddling behind closed doors as they finalized policy details and legislative text. If those last-minute talks are successful, lawmakers say they could vote within hours.
“The timeline is as soon as possible,” Ueland said leaving a more than hourlong meeting with McConnell, Mnuchin and a half-dozen GOP senators who have been heavily involved in the rescue package.
“We’re trying to finalize all the documents, going through a lot of complicated issues, and we’re making a lot of progress,” Mnuchin said, flanked by Rep. Mark Meadows, who was recently tapped as Trump’s next chief of staff.
Schumer took to the Senate floor on Tuesday to declare that senators were “on the 2-yard line” and said there were no remaining disagreements that couldn’t be resolved over the next few hours.
“There are lots of good things here,” Schumer said. “In the last few days, we have made huge progress in achieving these goals.”
On the other side of the Capitol, Speaker Nancy Pelosi was also projecting confidence that a deal could be clinched on Tuesday. Pelosi, who is working from Washington while the vast majority of the House remains in their districts for recess, said she hopes to get unanimous consent on the bill — an agreement that would not only allow swift passage, but would also keep worried lawmakers away from the Capitol, where the virus has started spreading….
Democrats want several more pieces of legislation approved to deal with the economy and the virus…
Even as lawmakers in both chambers are racing this week to enact a massive coronavirus relief package — the third in as many weeks — House Democratic leaders are telling members to expect at least two more stimulus measures in the weeks and months ahead.
On a marathon conference call with the House Democratic Caucus Tuesday afternoon, House Majority Leader Steny Hoyer (D-Md.) told lawmakers there will likely be a fourth and fifth phase of pandemic relief, according to a source on the call.
Those would follow on the heels of an initial $8.3 billion package, which focused on the immediate health concerns surrounding the coronavirus, and a second $104 billion proposal, designed to ease the financial stress on those most directly affected by the fast-moving pandemic.
The third phase remains in flux, as Senate leaders and White House officials are scrambling to secure a deal on a massive economic relief package that could exceed $2 trillion….