This predicted Phase 4 stimulus bill probably won’t be the last outflow of taxpayer money to prop up the economy….
Trump has indicated he will go along with the deal….
The White House and congressional Democrats on Sunday closed in on an agreement for a $450 billion economic relief package to replenish a depleted emergency fund for small businesses and to expand coronavirus testing around the country, with votes on the measure possible early this week.
Treasury Secretary Steven Mnuchin described the broad outlines of the package in an appearance on CNN on Sunday. The agreement would include $300 billion to replenish the emergency fund, called the Paycheck Protection Program; $50 billion for the Small Business Administration’s disaster relief fund; $75 billion for hospitals and $25 billion for testing.
Speaker Nancy Pelosi and Senator Chuck Schumer, Democrat of New York and the minority leader, said in separate television appearances Sunday morning that a deal appeared to be in the offing.
“We’ve made very good progress, and I’m very hopeful we could come to an agreement tonight or early tomorrow morning,” Mr. Schumer said, appearing shortly after Mr. Mnuchin on CNN’s “State of the Union.” He said the White House was “going along with” some of the Democrats’ requests, “so we feel pretty good.”
Mr. Mnuchin said President Trump approved of the framework, and the president himself expressed optimism on Sunday night about an agreement. “We are very close to a deal,” Mr. Trump said.
Mr. Mnuchin said he hoped that the Senate could vote on the bill as early as Monday and the House on Tuesday.
That would represent a significant breakthrough after nearly two weeks of stalemate over the bill, even as the $349 billion small-business fund ran dry Thursday with many applicants still in line, a move that risked adding more bankruptcies, business failures and job losses to an already stunning economic toll….