White House, Senate hammer out stimulus

WASHINGTON—Leaders from both parties announced overnight they had agreed on a $2 trillion bill to pump aid into a struggling economy during the coronavirus crisis. The Senate expects to pass the measure in the next couple of days.

What changed during negotiations? The deal already included significant funding for hospitals, a massive loan program to help small businesses meet payroll, and tax rebate checks for most Americans. Democrats also won concessions such as four months of pay for furloughed workers as opposed to an initial three months, plus aid for gig workers like Uber drivers.

The bill also stipulates that businesses owned by members of Congress, Trump administration officials, and the president cannot get loans or investment assistance from new Treasury Department programs. House Speaker Nancy Pelosi, D-Calif., has not given her full endorsement of the deal, so it’s uncertain how House Democrats will treat the measure.

Dig deeper: Read David Bahnsen’s analysis of the stimulus bill.