WASHINGTON — The White House and Senate leaders reached an agreement early Wednesday morning on a massive $2 trillion coronavirus spending bill aimed at alleviating the economic impact of the outbreak.
“At last we have a deal,” Senate Majority Leader Mitch McConnell announced shortly before 2 a.m. Wednesday. “In effect, this is a war time investment.”
Although the full text of the bill is not yet known, lawmakers indicated on Tuesday that the Republican’s initial proposal for direct cash payments would be included.
Under the plan, people making up to $75,000 a year are expected to receive checks of $1,200. Couples making $150,000 will receive $2,400 with an additional $500 per child. The new agreement removed the phase-in provision that excluded lower-income Americans from receiving the full benefit.