Negotiations lag on US$1 trillion stimulus for virus-hit US

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US lawmakers urgently negotiating a $1 trillion emergency package to salvage an economy ravaged by the coronavirus missed a Republican-imposed ...

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Senate Majority Leader Mitch McConnell (L), Treasury Secretary Steven Mnuchin and top Senate Democrat Chuck Schumer (R) have launched negotiations on the $1 trillion stimulus plan AFP/SAUL LOEBWASHINGTON: US lawmakers urgently negotiating a US$1 trillion emergency package to salvage an economy ravaged by the coronavirus missed a Republican-imposed deadline to reach an agreement by the end of Friday (Mar 20).

"That would allow a bipartisan package focused on immediate challenges to pass the Senate Monday" before it goes to the House of Representatives, McConnell said. Republicans have signalled they could come back with an additional emergency funding Bill after this Phase Three legislation passes Congress, but Schumer rejected that approach.The race to approve a relief package came as New York and Illinois became the latest states to order residents to stay at home, after California issued similar dramatic containment measures.

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