Congress is closing in on a massive coronavirus stimulus deal

March 24, 2020 / Lauren Hirsch@LAURENSHIRSCH , Leslie Josephs@LESLIEJOSEPHS

Democrats and Republicans are closing in on a massive stimulus package to combat the economic impact of the coronavirus.

In perhaps the biggest signal that an agreement was close, House Speaker Nancy Pelosi, D-Calif., told CNBC on Tuesday morning that there is “real optimism” Congress can clinch a pact within a few hours. Senate Majority Leader Mitch McConnell later said the bill is at the “five yard line.”

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Pelosi’s remarks came after Senate Minority Leader Chuck Schumer told reporters late Monday that lawmakers and the Trump administration expected to reach an agreement Tuesday morning. Schumer, a Democrat of New York, had met with Treasury Secretary Steven Mnuchin six times Monday.

“There are still a few little differences. Neither of us think they are in any way going to get in the way of a final agreement,” Schumer said just before midnight.

Mnuchin arrived at Capitol Hill just after 9 a.m. Tuesday for a new round of negotiations with Schumer. Just before 11:00 a.m., Mnuchin, Schumer and Rep. Mark Meadows, Trump’s incoming chief of staff, went into Schumer’s office as part of the negotiations, according to a Democratic aide. 

White House officials expect a deal to be reached with Congress as early as this morning, but they also cautioned that the president still needs to sign off, NBC news reported. 

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