The Trump administration and Congress expect an agreement Monday on an aid package of up to $450 billion to boost a small-business loan program that has run out of money and add funds for hospitals and COVID-19 testing, The Associated Press reported.
As negotiations continued, President Donald Trump said there’s a “good chance” of reaching a bipartisan agreement with Democrats. “We are very close to a deal,” Trump said Sunday at the White House.
Along with the small business boost, Trump said the negotiators were looking at “helping our hospitals,” particularly hard-hit rural health care providers, AP noted.
The Senate is scheduled for a pro forma session Monday, but no vote has been set.
The House announced it could meet as soon as Wednesday for a vote on the pending package, according to a schedule update from Majority Leader Steny Hoyer, D-Md.
With small-business owners reeling during a coronavirus outbreak that has shuttered much economic activity, Treasury Secretary Steven Mnuchin said he was hopeful of a deal that could pass Congress quickly and get the Small Business Administration program back up by midweek.
“I’m hopeful that we can get that done,” Mnuchin said Sunday.
Senate Minority Leader Chuck Schumer, D-N.Y., also said he believed a deal could be reached. “We still have a few more details to deal with,” he said.
The emerging accord links the administration’s effort to replenish a small-business with Democrats’ demands for more money for hospitals and virus testing, AP adds.
It would provide $300 billion for small-business payroll program, and $50 billion would be available for small business disaster fund. Additionally, it would bring $75 billion for hospitals and $25 billion for testing, according to those involved in the talks.