(WEHT) — Congress and the Trump Administration are nearing a deal on a new emergency funding plan. The package would be worth up to $450 billion and provide money to small businesses, hospitals and testing.
Now, lawmakers are signaling they may be just hours away from a deal on the next round of relief.
“We’re close again, we have common ground,” said Speaker of the House Nancy Pelosi.
“We should be reaching a deal tonight or tomorrow,” said Senate Minority Leader Chuck Schumer.
This bipartisan deal would include roughly $300 billion in funding for small business loans, plus billions more for hospitals, disaster loans and COVID-19 testing. However, some small businesses are running out of time. The government’s rescue loan fund, the Paycheck Protection Program, maxed out days ago. Treasury Secretary Steve Mnuchin says he hopes the new bill will be on the President’s desk by Wednesday.
While millions have received their stimulus direct deposits, many Americans are still waiting for paper checks to arrive by mail. Mnuchin now saying the decision to add the President’s signature to those paper checks did not cause a delay and they should go out next week.
“We did put the President’s name on the check. That was my idea. He is the president and I think it’s a terrific symbol to the american public,” said Mnuchin.
(This story was originally published on April 19, 2020)