Senate Democratic Leader Chuck Schumer says a deal has been reached on major elements of a nearly $US500 billion ($A800 Billion) coronavirus aid package for small businesses, including additional help for hospitals and virus testing.
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Schumer said post-midnight talks among Democratic and Republican leaders, along with Trump administration officials, including White House Chief of Staff Mark Meadows, produced a breakthrough agreement on the package.
"We have a deal and I think we'll pass it today," Schumer said on CNN on Tuesday.
He cautioned that staff are still "dotting the I's and crossing the T's."
A Tuesday afternoon Senate session could provide an opportunity to quickly pass the legislation if it comes together quickly, though the Democratic-controlled House is planning on calling lawmakers to Washington for a vote later in the week.
A senior Senate GOP leadership aide cautioned that the measure is not finalized and that Majority Leader Mitch McConnell, R-Ky., has yet to publicly sign off on it.
Schumer said that Meadows and Treasury Secretary Steven Mnuchin were in close contact with McConnell during the endgame talks.
"Every major issue was resolved," Schumer said.
"So yes, I believe we have a deal."
Most of the funding, more than $300 billion, would go to boost a small-business payroll loan program that ran out of money last week. Additional help would be given to hospitals, and billions more would be spent to boost testing for the virus, a key step in building the confidence required to reopen state economies.
The emerging draft measure - originally designed by Republicans as a $250 billion stopgap to replenish the payroll subsidies for smaller businesses - has grown into the second largest of the four coronavirus response bills so far. Democratic demands have caused the measure to balloon, though they likely will be denied the money they want to help struggling state and local governments.
The Senate met for a brief pro forma session Monday that could have provided a window to act on the upcoming measure under fast-track procedures requiring unanimous consent to advance legislation, but it wasn't ready in time.
McConnell, Republican from Kentucky, set up the Tuesday session in the hope that an agreement will be finished by then. McConnell warned, however, that he wouldn't know whether the Senate could pass it by voice vote until the measure is unveiled.
The House has announced a vote on the pending package could come later in the week, possibly on Thursday, according to a schedule update from Majority Leader Steny Hoyer. Hoyer also announced that the chamber will vote on a temporary rules change to permit limited proxy voting during the COVID-19 crisis.
Australian Associated Press
