Treasury Secretary Steven Mnuchin said Sunday that a $1.8 trillion financial package intended to boost the economy amid the coronavirus outbreak will be finalized later in the day.

“I‘ve been speaking to Mitch McConnell, Chuck Schumer, the speaker, and I think we have fundamental understanding,” Mnuchin told the “Fox News Sunday” program. “We look forward to wrapping it up today.”

The bill will include two weeks of loans to small businesses impacted by the emergency, along with average payments of $3,000 to a family of four. The legislation will also boost unemployment insurance and add extra liquidity to the economy.

“We need to get the money into the economy now - if we do that we think we can stabilize the economy,” Mnuchin added. “I think the president has every expectation that this is going to look a lot better 4 or 8 weeks from now.”

Mnuchin said that he was expecting a vote on the bill by Monday morning. The Senate was expected to finalize an agreement by Saturday afternoon, but Democrats and Republicans continued to disagree on some issues, such as student loan relief and economic assistance to state governments amid the crisis.

There are currently five U.S. states which have shut down all non-essential business due to the coronavirus pandemic: California, New York, Illinois, New Jersey and Connecticut. These states collectively make up 31% of the U.S. economy.

These orders are intended to contain the spread of infection but will drastically impact GDP and unemployment. Economists surveyed by the Wall Street Journal expect up to 5 million jobs to be lost due to the crisis, with output dropping by $1.5 trillion.

There are at least 26,747 cases of coronavirus in the United States, according to Johns Hopkins University, with the domestic death toll standing at 340. The longer the coronavirus outbreak lasts, the more damage it would do to the economy.

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