McConnell expects coronavirus relief package to be finalized 'in a matter of hours'

We look forward to Congress sending a bill to his desk imminently for signature."House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., said in a joint statement their goal is to "crush the virus and put money in the pockets of the American people." "Today, we have reached an agreement with Republicans and the White House on an emergency coronavirus relief and omnibus package that delivers urgently needed funds to save the lives and livelihoods of the American people as the virus accelerates," it said.SEN. (AP)Senators held talks on Capitol Hill late Saturday when Sen. Pat Toomey, R-Pa., hit the Senate floor with a list of grievances on the $900 billion package.But Fox News learned late Saturday that Toomey agreed to compromise language from his initial proposal that would have prevented the Federal Reserve chairman from establishing federal lending programs similar to those set up in March to help credit markets function during massive U.S. economic shutdowns."These new emergency lending facilities were always intended to sunset at end of this year," McConnell said on Sunday. It also redirects the dormant money in these accounts toward the urgent needs of working Americans and ensures that these expiring programs cannot be simply restarted or cloned without another authorization from Congress, all while preserving both the independence of the Federal Reserve and proper authority of Congress."TOOMEY, SCHUMER REPORTEDLY REACH AGREEMENT ON COVID RELIEF BILL LANGUAGEThe apparent compromise, following discussions between Toomey and Schumer, appeared to open a path to a final agreement on the coronavirus package.The plan was to load the $900 billion coronavirus bill onto a $1.4 trillion omnibus spending plan to fund the government through Sept. Senate Majority Leader Mitch McConnell, of Kentucky, speaks during a news conference with other Senate Republicans on Capitol Hill in Washington, while Sen. John Barrasso, R-Wyoming, listens at left.