President’s Team, Senators to Negotiate $1T Economic Rescue Deal
WASHINGTON (AP) — Members of President Donald Trump's economic team will convene on Capitol Hill to launch negotiations with Senate Republicans and Democrats racing to draft a $1 trillion-plus economic rescue package amid the coronavirus outbreak.
It's the biggest effort yet to shore up households and the U.S. economy as the pandemic and its nationwide shutdown hurtles the country toward a likely recession.
Senate Majority Leader Mitch McConnell has unveiled a sweeping economic rescue plan to pump $1,200 checks directly to taxpayers, $300 billion for small businesses to keep idled workers on payroll and $208 billion in loans to industries.
The negotiations are certain to encounter difficulties ahead, as some Republicans object and Democrats say it doesn't go far enough.