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McConnell: 'Very close' on rescue package topping $1T

Posted at 8:11 AM, Mar 22, 2020
and last updated 2020-03-22 08:11:11-04

BY JONATHAN LEMIRE, LISA MASCARO and ANDREW TAYLOR — Top-level talks between Congress and the White House are pushing toward agreement on a ballooning $1 trillion-plus economic rescue package to beat back the impact of the coronavirus.

Senate Majority Leader Mitch McConnell says negotiators are “very close” to a bipartisan deal.

Democratic leader Chuck Schumer says good progress is being made, but a spokesman for the Democratic leader says there is “not yet” an agreement.

Top leaders including House Speaker Nancy Pelosi will meet privately early Sunday.

Officials put the price tag at nearly $1.4 trillion and say that with other measures from the Federal Reserve it could pump $2 trillion into the U.S. economy.