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Key senators and White House negotiators said Wednesday they had reached a deal on a key piece of their stimulus package, setting the stage for the release of their long-awaited full proposal. Senate Appropriations Chairman Richard Shelby, an Alabama Republican, announced the "fundamental agreement" on the funding piece of the GOP plan, which would include $105 billion for schools and additional billions in funds for testing. (Mattingly, Fox and Barrett, 7/22)

After three marathon days of talks, Senate Republican leaders and White House officials expressed confidence on Wednesday evening that they had reached an agreement in principle on a proposal that would dole out more than $100 billion to schools, send additional checks directly to Americans and provide $16 billion for states to conduct testing and contact tracing. But some of the biggest issues, including what to do with enhanced unemployment insurance and Mr. Trump’s payroll tax cut idea, were not finalized. (Cochrane, Fandos and Tankersley, 7/22)

Facing a GOP revolt, Senate Majority Leader Mitch McConnell was preparing a “handful” of separate COVID-19 aid bills, according to a top lawmaker involved in the negotiations. McConnell is set to unveil the package on Thursday, according to a Republican unauthorized to discuss the private talks and granted anonymity. “Very productive meeting,” Treasury Secretary Steven Mnuchin said while exiting a session late Wednesday at the Capitol. A key holdup remains President Donald Trump’s push for a payroll tax cut, according to a Republican granted anonymity to discuss the private talks. Hardly any GOP senators support the idea. (Mascaro, 7/23)

The Republican coronavirus relief plan will extend enhanced unemployment insurance “based on approximately 70% wage replacement,” Treasury Secretary Steven Mnuchin said Thursday. (Pramuk, 7/23)

Senate Republicans are set to start unveiling at least part of their forthcoming coronavirus relief proposal on Thursday. The package will not be one bill, but instead be broken up into several bills, according to Sen. Roy Blunt (R-Mo.), a member of GOP leadership, with the goal of releasing them all on Thursday. (Carney, 7/22)

In related news —

New Jersey Gov. Phil Murphy on Wednesday called congressional Republicans’ emerging economic relief plan a “slap in the face,” saying that his state is confronting its worst fiscal crisis since the Great Depression and that the latest proposals in Washington would do nothing to address the state’s coronavirus-inflicted $10 billion budget hole. (Wood, Tornoe and Steele, 7/22)