After haggling for days over the final details, Senate Democrats and the White House agreed Wednesday to a nearly $2-trillion stimulus package to combat the economic fallout of the coronavirus outbreak, including direct payments to most Americans and a half-trillion-dollar fund to shore up struggling companies.
The stimulus bill — by far the largest ever proposed — comes with a price tag equivalent to 9% of the nation’s gross domestic product and is meant to provide direct financial aid to help individuals, hospitals and businesses. It includes $300 billion for small businesses, $150 billion for local and state governments and $130 billion for hospitals, according to those involved in the negotiations.
Treasury Secretary Steven T. Mnuchin and Senate Minority Leader Charles E. Schumer (D-N.Y.) negotiated through Monday night and all day Tuesday to resolve outstanding issues.
A Senate vote on the deal could occur by midday Wednesday, with the House potentially following soon after.
