US Congress reaches deal on COVID-19 relief package

for millions of Americans as the nation struggles against the world's largest outbreak of the virus.

Democratic House Speaker Nancy Pelosi and Senate minority leader Chuck Schumer confirmed an agreement had been reached with Republicans and the White House on a deal that"delivers urgently needed funds to save the lives and livelihoods of the American people as the virus accelerates." This will require passage of a stopgap measure by midnight Sunday to keep the federal government funded an extra 24 hours and avert a shutdown.

Republicans had sought to limit the Fed's ability to provide credit for businesses and other institutions, claiming Democrats were trying to use the legislation to create a"slush fund" for state and local governments they control. Even as the pandemic continues to take a record toll in US cases and deaths, the economy has been gravely battered, with jobless numbers rising in the past two weeks.

The initial $2.2 trillion package passed in March was credited with preventing a much more severe economic downturn.

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