Congress close to coronavirus deal that includes stimulus checks

Senate and House leaders are closing in on a coronavirus relief deal that would include direct stimulus payments, according to sources familiar with the talks.

The package is based largely on a $748 billion relief bill that a bipartisan group of Senate and House moderates unveiled Monday plus a new round of stimulus checks, although at an amount lower than the payments of up to $1,200 per adult included in the CARES Act passed by Congress in March.

It will leave out $160 billion in funding for state and local governments, which was originally included in a $908 billion compromise proposal that Democratic leaders endorsed in early December, as well as liability protection for businesses, a top priority of the GOP leadership.

Two House lawmakers, one Republican and one Democrat, confirmed Wednesday that a new round of stimulus payments are part of the emerging deal.

The entire cost of the various items in the package is expected to stay below $1 trillion, an upper boundary set by Senate Majority Leader Mitch McConnell (R-Ky.) and Senate Republicans earlier this year.

Congressional leaders are closing in on agreement after negotiating late into the evening Tuesday.

The size and eligibility requirements for the second round of payments weren't immediately clear. The CARES Act payments of up to $1,200 per adult and $500 per child cost almost $300 billion, but lawmakers are looking at a second round that has a lower price tag. The White House last week had proposed direct payments of $600 per adult and per child, which analysts estimate would cost about $170 billion.