Democrats, White House Close on Deal Aimed to Help Small Businesses Hurt by COVID-19
The deal will replenish the $350 billion COVID-19 emergency fund
Sunday, U.S. Treasury Secretary Steven Mnuchin said Democrats and the White House are inching closer to a deal that will replenish the $350 billion coronavirus (COVID-19) emergency fund and said the vote could be as early as next week.
Mnuchin told CNN that he hopes that the $450 billion package will be voted on in the Senate on Monday, and pass the House on Tuesday. President Donald Trump talked about the package during an evening press briefing and told reporters that he thinks “you could have a nice answer tomorrow, but we’ll see.”
Trump released a three-phase strategy to re-open the country, sending the S&P 500 index up 28 percent since its low late last month. The U.S. economy has been stung by COVID-19 due to state shelter-in-place orders and concerns about a second wave once restrictions are lifted.
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