Republicans and Democrats seem close to bridging disagreements that have stalled a deal on the approximately $2 trillion financial stimulus package. House Speaker Nancy Pelosi said a Senate agreement could be 'done in the next few hours.'
House Speaker Nancy Pelosi arrives Monday to speak outside her office on Capitol Hill. The day was filled with back-and-forth in the Senate over the House Democrats' financial stimulus package.House Speaker Nancy Pelosi arrives Monday to speak outside her office on Capitol Hill. The day was filled with back-and-forth in the Senate over the House Democrats' financial stimulus package.
Among the changes he said Democrats have secured is a major expansion of the Unemployment Insurance program. Schumer said he expects the bill will provide four months of full salary payments for people who lose their jobs because of the coronavirus. The proposal would allow more people to qualify for unemployment, including those who are furloughed, freelancers, and other contract or gig employees, according to a Democratic aide familiar with the negotiations. It would work by increasing the benefit by $600 a week for four months on top of the weekly rate states give as a base for unemployment assistance.
The potential for a deal was good news for U.S. stocks that have been battered by the uncertainty surrounding the coronavirus. The Dow Jones Industrial AverageSenate Majority Leader Mitch McConnell, R-Ky., echoed the optimism, saying he believes a deal can be reached Tuesday.
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