US congressional leaders are nearing a deal on economic relief legislation worth roughly $900bn that would include a fresh round of stimulus cheques for Americans struggling amid the Covid-19 pandemic.
Crunch talks were set to continue on Capitol Hill on Wednesday after hours of negotiations on Tuesday between Nancy Pelosi, the Democratic Speaker of the House, and Mitch McConnell, the Republican Senate majority leader.
A breakthrough would end a political impasse that has lasted for months while also providing much-needed fiscal support for the world’s largest economy amid a new surge of coronavirus cases, which is expected to worsen until a mass vaccination campaign starts to slow the spread.
Support appeared to be growing earlier this week for a slimmed-down package worth $748bn, which included aid to small businesses and funding for unemployment benefits.
But by Wednesday, Ms Pelosi and Mr McConnell — along with Kevin McCarthy and Chuck Schumer, the…