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White House, Senate Agree To $2 Trillion Coronavirus Rescue Package

The Trump administration and Senate Majority Leader Mitch McConnell confirmed early Wednesday that the White House and Senate had reached a deal for an unprecedented $2 trillion spending package aimed at propping up individuals, businesses and the nation’s health care system amid the economic onslaught of the coronavirus pandemic.

White House legislative affairs director Eric Ueland made the announcement at about 1 a.m. ET. McConnell appeared on the Senate floor shortly after to say he had “good news.”

The agreement means that the package could be on track for quick approved by Congress.

“Ladies and gentlemen, we are done. We have a deal,” Ueland said.

The agreement followed days of intense wrangling amid pressure to do a deal quickly as much of the country went into lock down to contain the spread of the virus and global markets crashed.

The sudden movement on the legislation occurred after House Speaker Nancy Pelosi said Tuesday that Republicans and Democrats had seemed close to bridging disagreements that had previously stalled the package.

“I think there is real optimism we could get something done in the next few hours,” Pelosi said in an interview on CNBC.

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