After five days of negotiations, Senate leaders and the Trump administration said early Wednesday morning they had reached agreement on a $2 trillion stimulus package to help mitigate the economic impact of COVID-19. .

“Ladies and gentlemen, we are finished. We have a deal,” White House Director of Legislative Affairs Eric Ueland told reporters around 1 a.m. according to the Washington Post.

Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer, who negotiated with Ueland, Treasury Secretary Steven Mnuchin and other officials, are expected to discuss the deal in the Senate soon.

The deal still needs to be approved by the Senate and House of Representatives, but the stock market rose on Tuesday amid reports that a deal was imminent, with the Dow Jones Industrial Average rising more than 2,100 points or 11.4 %.

The size of the stimulus package has increased over the past week from the $850 billion that the Trump administration would have first asked to the current $2 trillion.

The deal includes a boost to unemployment insurance, $130 billion for hospitals, $1,200 in checks to many Americans and a $367 billion loan program for small businesses, among other provisions.

According For New York Times reporter Alan Rappeport, the deal also includes a provision, backed by Schumer, that prohibits companies controlled by the president, vice president, members of Congress and heads of executive departments from receiving loans. or Treasury program investments.

President Donald Trump suggested this week that he wants to lift emergency orders much faster than public health experts have suggested. yesterday’s trump told reporters he wants the nation to be “open and eager to get there this Easter,” despite warnings from public health experts that more time is needed to contain the spread of the novel coronavirus.

According data from Johns Hopkins Universitythere are currently more than 55,200 cases of COVID-19 in the United States, with a total of 801 deaths.