House unlikely to vote on historic $2 trillion coronavirus stimulus bill Wednesday

   < < Go Back
from CNBC,

The White House and Senate leaders reached a deal early Wednesday on a massive $2 trillion stimulus bill to combat the economic impact of the coronavirus outbreak.

Majority Leader Mitch McConnell said the Senate will vote and pass the legislation later Wednesday.

Senate Minority Leader Chuck Schumer called it “the largest rescue package in American history.”

Treasury Secretary Steven Mnuchin agreed to enhanced oversight of a $500 billion bailout fund that Democrats had criticized, according to a senior administration official.

As of Wednesday morning, though, the Senate was still drafting the final details of the text. A senior Democratic aide told CNBC that due to procedural reasons, including how long it is taking the Senate to send over a draft of the bill, it is unlikely the House will vote on it Wednesday. The House needs to pass the bill before it can reach President Donald Trump’s desk.

More From CNBC: