Congress closing in on nearly $2 trillion virus aid package

WASHINGTON (AP) — Top congressional and White House officials say they expect to reach a deal Tuesday on a nearly $2 trillion measure aimed at easing the economic damage inflicted by the coronavirus pandemic.

Treasury Secretary Steven Mnuchin and Senate Democratic leader Chuck Schumer said they had spoken by phone with President Donald Trump during the long night of negotiations. While the two sides have resolved many issues in the sweeping package, some remain.

Ahead of the resumption of talks Tuesday morning, U.S. futures rose sharply after the leaders signaled resolution was in sight.

“We look forward to having a deal tomorrow,” Mnuchin told reporters after exiting Schumer's office late Monday.

“The president is giving us direction," Mnuhcin said. "The president would like to have a deal, and he's hopeful we can conclude this.”

Moments later, Schumer agreed that a deal was almost within reach. “That's the expectation — that we finish it tomorrow and hopefully vote on it tomorrow evening," he said.

The long evening of shuttle negotiations came after a long day trying to close the deal. The massive package is a far-reaching effort to prop up the U.S. economy, help American households and bolster the health care system amid the growing crisis.

Tensions had flared Monday as Washington strained to respond to the worsening coronavirus outbreak, with Congress arguing over a nearly $2 trillion economic rescue package and an impatient Trump musing openly about letting the 15-day shutdown expire next Monday, March 30.

As the U.S. braces for an onslaught of sick Americans, and millions are forced indoors to avert a spike that risks overwhelming hospitals, the most ambitious federal intervention in modern times is testing whether Washington can act swiftly to...