'Disagreement' on $1T coronavirus relief plan with Sunday procedural vote planned

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'Disagreement' on $1T coronavirus relief plan with Sunday procedural vote planned

Posted by Evie Fordham | FOXBusiness on

'Disagreement' on $1T coronavirus relief plan with Sunday procedural vote planned

'Disagreement' on $1T coronavirus relief plan with Sunday procedural vote planned

McConnell says procedural vote will still happen Sunday but the bill's shell will have to be filled out by Monday

Secretary Mnuchin on scope of coronavirus relief package and economic impact of efforts to slow the pandemic

Tens of millions of Americans directed to stay home as coronavirus crisis escalates; Treasury Secretary Steve Mnuchin joins John Roberts on 'Fox News Sunday.'

Senate Majority Leader Mitch McConnell said Sunday that Senate leaders were still talking about "issues where there is disagreement" on the $1 trillion-plus coronavirus economic package as a self-imposed Monday deadline approaches.

The lawmakers met Sunday morning to discuss the package before a procedural vote expected at 6 p.m. ET. McConnell said the procedural vote will still happen but the shell of the bill will have to be filled out by Monday.

With a population on edge, societal norms rewritten and financial markets shellshocked, all sides were hoping for an agreement that would provide some relief against the pandemic's twin health and economic crises, now believed likely to stretch for several months.

The Democratic leaders exiting the hour-long session at the otherwise empty Capitol said there was no deal yet.

"We're continuing to talk," said Senate Minority Leader Chuck Schumer, while House Speaker Nancy Pelosi said Democrats would be putting forward their own draft bill.

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Treasury Secretary Steven Mnuchin, who has been part of the discussions, told "Fox News Sunday" the group has a "fundamental understanding."

"We look forward to wrapping it up today," he told John Roberts. "It will get done."

McConnell announced late Saturday all sides were "very close" to a bipartisan resolution.

In this image from video, Senate Majority Leader Mitch McConnell, R-Ky., speaks on the Senate floor at the U.S. Capitol in Washington, Saturday, March 21, 2020. (Senate Television via AP)

McConnell instructed committee chairmen to assemble draft legislation. Officials put the price tag at nearly $1.4 trillion and said that with other measures from the Federal Reserve it could pump $2 trillion into the U.S. economy.

"We are poised to deliver the significant relief that Americans need with the speed that this crisis demands," McConnell said.

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A spokesman for Senate Democratic leader Chuck Schumer said there is "not yet an agreement." Spokesman Justin Goodman said Democrats look forward to reading the draft and further negotiations.

"Everybody's working hard and they want to get to a solution that's the right solution, I think we're very close," Trump said at Saturday's briefing, striking a confident tone about the nation's ability to defeat the pandemic soon.

President Donald Trump points towards the media during a coronavirus task force briefing at the White House, Friday, March 20, 2020, in Washington. (AP Photo/Evan Vucci)

Trump has largely stayed out of the details, but said Saturday that he would be lobbying the lead negotiators.

On one topic, Trump appears to be agreeing with Democrats as Washington tries to steer clear of the politically toxic bailouts from the last economic crises.

Trump expressed a clear distaste for any industry, including the airlines, that would use federal assistance to buy back its own stock in an effort to increase profits. Banning stock buy-backs is one of Democrats' top business priorities in the emerging package.

At issue is how best to keep paychecks flowing for millions of workers abruptly sidelined by the crisis. Talks also narrowed on a so-called Marshall Plan for hospitals as well as industry loans to airlines and others all but grounded by the virus outbreak and national shutdown. The post-World War II Marshall Plan helped to rebuild Western Europe.

The Associated Press contributed to this report.