steven mnuchin

Updated at 5:30 p.m. ET

Republican senators and the White House have reached an agreement on major elements of an upcoming coronavirus aid bill but have yet to settle on how to address unemployment benefits that are set to expire at the end of this month.

Senate Majority Leader Mitch McConnell, R-Ky., announced late Thursday afternoon that the administration is reviewing the "agreement in principle" and the legislation will be introduced next week.

Updated at 5 p.m. ET

Employers added a record 4.8 million jobs last month, as the U.S. economy continued to slowly bounce back from a deep and painful coronavirus recession. The unemployment rate dipped to 11.1%.

Job growth accelerated from May, when revised figures show employers added 2.7 million jobs.

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Updated at 5:11 p.m. ET

The U.S. Senate has approved a measure to add roughly $484 billion in new funds to bolster the already record-breaking coronavirus response legislation.

The Senate passed the legislation by unanimous consent on Tuesday. House leaders were planning a vote for Thursday.

Senate Majority Leader Mitch McConnell announced the full Senate will not plan to return to the Capitol before May 4 — a delay from a planned return next Monday.

McConnell said the decision to change the schedule was made "following the advice of health experts" and in consultation with Senate Minority Leader Chuck Schumer.

McConnell, R-Ky., stressed that Congress continues to work remotely to respond to the economic impact of the coronavirus.

Updated at 12:15 p.m. ET

U.S. taxpayers will have a three-month extension to file their taxes because of the coronavirus pandemic, Treasury Secretary Steven Mnuchin said Friday.

He said that at the president's direction, "we are moving Tax Day from April 15 to July 15."

"All taxpayers and businesses will have this additional time to file and make payments without interest or penalties," Mnuchin added.

At the same time, he encouraged people who are set to receive refunds to file earlier so that they can get their money more quickly.

Updated at 10:19 p.m. ET

President Trump said Monday that the White House is planning to ask Congress to pass a payroll tax cut and relief for hourly wage earners in order to assist workers who may be feeling the financial pinch amid the coronavirus outbreak.

Trump said that top administration officials will be meeting with Republican members of the House and Senate on Tuesday to discuss the possible payroll tax cuts and help for hourly workers.

National Retail Federation / Facebook

The Treasury Secretary came to Columbus to promote Republican lawmakers’ $1.5 trillion tax reform plan, which they say will grow the economy, make the tax code simpler and create a middle-class tax cut. But not everyone agrees.

Stephen Jaffe/IMF / Flickr

U.S. Treasury Secretary Steven Mnuchin will speak Tuesday afternoon in Columbus about the Trump administration's tax reform plan.

The Senate voted to confirm Steven Mnuchin as President Trump's Treasury secretary in a 53-47 vote Monday.

Mnuchin's approval came over the objections of some Democratic senators who pointed to Mnuchin's business record running a bank that hastily foreclosed on homeowners. It also drew fire from those who say that with the appointment of Mnuchin and other former bankers to key roles close to the White House, the administration is going back on its promise to get tough on Wall Street.

Updated 1:15 p.m. ET

A day after Democrats on the Senate Finance Committee boycotted votes to advance the nominations for President Trump's nominees to lead the departments of the Treasury and Health and Human Services, the panel's Republicans met in a surprise meeting Wednesday morning and voted to suspend committee rules to vote on those nominees without Democrats present.

Updated at 1:50 p.m. ET.

Democrats on the Senate Finance Committee boycotted planned votes on Tuesday morning to advance the nominations of two Trump Cabinet nominees.

In a tense hearing Thursday morning, the new administration's Treasury secretary nominee, Steven Mnuchin, faced scrutiny from Democratic senators concerned about him profiting handsomely off homeowners who lost their homes during the housing crisis.