White House, Senate reach deal on $2 trillion coronavirus relief plan

Ayla Ellison (Twitter) - Print  | 

The White House and Senate leaders reached a deal early March 25 on a $2 trillion COVID-19 spending bill, according to CNBC

The Senate has not released the final terms of the legislation. Senate Majority Leader Mitch McConnell, R-Ky., said the bill would provide financial assistance to Americans, emergency loans to small businesses, more resources for hospitals and enhanced unemployment insurance, according to the report. 

Senate Minority Leader Charles E. Schumer, D-N.Y., told Senate Democrats the bill will invest $150 billion in the healthcare system and send an additional $150 billion to state and local governments facing costs related to COVID-19, according to The Wall Street Journal

The Senate will move to vote on the bill later today. House Speaker Nancy Pelosi, D-Calif., said March 24 that she hoped to quickly approve the final Senate agreement, according to The Wall Street Journal. President Donald Trump is pleased with the bill as it is written today and would "absolutely" sign it, Treasury Secretary Steven Mnuchin told WSJ

The $2 trillion spending bill is the largest economic stimulus package in modern history, according to The New York Times

More articles on healthcare finance:
Pennsylvania hospital needs $40M or it will close April 1
Hospitals face financial fallout from COVID-19: 6 things to know
West Virginia hospital closes despite pleas to stay open during COVID-19 outbreak

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