Lawmakers announce $2T federal coronavirus response deal

Senate Majority Leader Mitch McConnell (R-KY) leaves the Senate chamber during a brief recess during the impeachment trial proceedings at the U.S. Capitol. | Drew Angerer/Getty Images

WASHINGTON — U.S. Senate leaders announced a compromise with the White House on a massive $2 trillion spending package that would send checks to Americans and provide aid to small businesses in response to the COVID-19 pandemic.

The deal was announced early Wednesday morning after days of heated negotiations on Capitol Hill.

U.S. Senate Majority Leader Mitch McConnell (R-Ky.) said he expects the Senate to pass the legislation later on Wednesday.

“We have a bipartisan agreement on the largest rescue package in American history. This is not a moment of celebration, but one of necessity,” U.S. Senate Minority Leader Chuck Schumer (D-N.Y.) said on the Senate floor.

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The legislation would send checks of $1,200 to many Americans, create a $367 billion loan program to aid small businesses and fund a $500 billion lending program for industries, cities and states, the Washington Post reported.

The legislation would also ensure that these taxpayer-funded loans can’t be made to firms owned by President Donald Trump, other White House officials, or members of Congress, the Post reported. Another $150 billion would be included for state and local stimulus funds and $130 billion would go to hospitals.

The Advance will have more on this story Wednesday.