VIRUS CORONA -Â WASHINGTON. United State senators and Trump administration officials have reached an agreement on a massive economic stimulus bill to alleviate the economic impact of the coronavirus outbreak, the negotiators said on Wednesday.
The Senate will vote on the US$ 2 trillion package later in the day and the House of Representatives is expected to follow suit soon after.
"This is a wartime level of investment into our nation," Republican Senate Majority Leader Mitch McConnell said in a speech announcing the pact after days of negotiations between Republican and Democratic lawmakers, Treasury Secretary Steven Mnuchin and other top aides to President Donald Trump.
"We're going to pass this legislation later today," McConnell said.
Read Also: Airlines beg for rescue as coronavirus hit soars to US$ 250 billion
Senate Democratic Leader Chuck Schumer called the measure "the largest rescue package in American history," describing it as a "Marshall Plan" for hospitals and medical needs, in a reference to the U.S.-funded program that helped rebuild Europe after World War Two.
"Help is on the way, big help and quick help," Schumer said.
The text of the pact was not due to be available until later on Wednesday.
McConnell said the package would rush checks to help Americans pay bills during job layoffs related to the outbreak, expand unemployment insurance and deliver emergency loans to small businesses.
It would also "stabilize key national industries" and provide financial help for hospitals and healthcare providers struggling to get equipment for sick patients, he added.
