Pelosi Statement on Senate Coronavirus Bill Agreement

"America is facing a grave health crisis with a serious impact on our economy. I salute the strong leadership of Chuck Schumer and Senate Democrats. I especially thank our House Democratic Committee Chairmen, who worked hard to move the Republican proposal from corporations-focused to workers-first and who will now review the legislative text of this agreement with our Caucus.

"The Republican bill proposed by Senator McConnell on Sunday was a non-starter.

"This bipartisan legislation takes us a long way down the road in meeting the needs of the American people. While the compromise does not go as far as our Take Responsibility for Workers and Families Act, thanks to the unity and insistence of Senate and House Democrats, the bill has moved a great deal closer to America's workers.

"Bold legislation is desperately needed to protect the health and well-being of the American people:

• For fighting the coronavirus, Democrats fought for and won a large investment in hospitals, health system and state and local governments in this agreement, to give them the resources they desperately need during this emergency.

• For our workers, we secured a massive increase in Unemployment Insurance benefits to match the average paycheck of laid-off or furloughed workers.

• For our small businesses, we won a significant expansion of fast relief for small businesses and made rent, mortgage and utility costs eligible for SBA loan forgiveness.

• For our students, we secured billions in emergency education funding and eliminated income tax on student loan repayment assistance by an employer.

• For accountability and oversight, we prevented secret bailouts and added special oversight requirements.

"House Democrats will now review the final provisions and legislative text of the agreement to determine a course of action."