Top congressional leaders and Treasury Secretary Steven Mnuchin will meet Sunday, as the Senate moves towards a key procedural vote on a massive $1.6 trillion-plus economic stimulus package to deal with the coronavirus crisis.
And while Senate Republicans and Democrats say they are close to an agreement, they have yet to announce any deal.
Senate Majority Leader Mitch McConnell (R-Ky.) will meet in his office with Mnuchin, Senate Minority Leader Chuck Schumer (D-N.Y.), Speaker Nancy Pelosi (D-Calif.) and House Minority Leader Kevin McCarthy (R-Calif.) at 11 a.m.
Schumer and Pelosi have stayed in close touch with Mnuchin throughout the negotiations. Pelosi flew back to Washington Saturday.
Late Saturday evening, McConnell instructed chairmen of key committees to draft language that senators can review before a floor vote Sunday that advances the legislation, in an effort to meet a Monday deadline for passage. Democrats insist though that there’s no final deal.
While outstanding issues remain, Democrats are expected to see a win with $250 billion allocated to unemployment insurance — one of the major sticking points in the negotiations. In addition, billions are expected to go to hospitals to address the influx of patients due to the pandemic. Schumer has called for a “Marshall Plan” for hospitals.
In addition, Sens. Marco Rubio (R-Fla) and Susan Collins (R-Maine) reached an agreement in principle Saturday evening with Sens. Ben Cardin (D-Md.) and Jeanne Shaheen (D-N.H.), on the package’s small business provisions. The final deal on small businesses will amount to $350 billion, covering 58 million American workers and more than 30 million small businesses, Rubio tweeted Saturday.
Meanwhile, hundreds billions of dollars are expected to go to distressed industries, including airlines. Democrats are insisting that the stimulus package include provisions to stop stock buybacks or increases in pay for top executives.
Democrats have also been pushing for expanded paid leave provisions. But Republicans are showing little interest, with GOP aides noting that the House-passed second stimulus package already included provisions to expand paid sick leaves.
Republicans are also pushing for $250 billion in direct cash payments to workers. Under the original GOP proposal, individuals and families would receive $1,200 and $2,400 in direct cash payments, depending on their income level. Sens. Josh Hawley (R-Mo.) and Mitt Romney (R-Utah) have raised concerns that the original language of the provision penalizes lower-income Americans who do have a taxable income. But Republican aides say the issue will be resolved in the final text.
