Madeline Sponsler, FISM News

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White House negotiators on Tuesday vowed to work “around the clock” with congressional Democrats to try to reach a deal on coronavirus relief by the end of this week, as the pandemic takes a heavy toll on American life.

Following an afternoon negotiations meeting,  Treasury Secretary Steven Mnuchin raised the possibility of a deal by week’s end, which could clear the way for votes in the Senate and House of Representatives.

Mnuchin said negotiators would now “work around the clock” and have set a timeline “so that the legislation can be then passed next week” if a tentative deal is in hand.

But Mnuchin also warned that “we’re not going anywhere close” to the $3.4 trillion that Democrats have been seeking. He did not elaborate.

Republicans say the proposed $600 benefit – which is on top of state unemployment payments – discourages people from taking lower-paying jobs. A Fed official on Monday said there was little evidence to support that view.

Two more negotiating sessions were expected on Wednesday.

Sourced from Reuters, FISM.tv