Lawmakers reach deal for $7.8 billion coronavirus response package

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Negotiators in Congress have struck a deal on a sweeping spending package to dedicate billions to dealing with the coronavirus outbreak, according to two sources involved with the talks. A trader passes a hand sanitizing station on the floor of the New York Stock Exchange, Tuesday, March 3, 2020. Federal Reserve Chairman Jerome Powell noted that the coronavirus “poses evolving risks to economic activity.”

Negotiators in Congress have struck a deal on a sweeping spending package to dedicate billions to dealing with the coronavirus outbreak, according to two sources involved with the talks.

The White House is expected to back the deal, which is expected to be voted on by the House of Representatives later Wednesday.

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The agreement would be for $7.8 billion in new appropriations, plus another $500 million to replenish an account drained by the initial federal response, according to two other sources.

Lawmakers have been meeting for days to hammer out a package to respond to the coronavirus outbreak. The $7.8 billion figure is in line with what sources told CNN over the weekend, a level far higher than the $2.5 billion White House request. Senate Minority Leader Chuck Schumer proposed $8.5 billion to deal with the outbreak last week.

By Phil Mattingly and Manu Raju, CNN

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