The U.S. Senate's top Democrat said Tuesday that a deal has been reached with the White House on pumping an additional 300 billion U.S. dollars into a depleted emergency program to rescue small businesses ravaged by the coronavirus crisis.  

The negotiations were all but finalized on re-funding the popular Paycheck Protection Program (PPP), and the Senate could vote on the deal as early as Tuesday, Senator Chuck Schumer said.  

"There are still a few more "i"s to dot and "t"s to cross, but we have a deal," Schumer told CNN after staff were "up all night" finalizing the huge package. "And I believe that we will pass it this afternoon," he added. 

The measure would then go to the House of Representatives, where leaders said a vote could come as early as Thursday, before heading to President Donald Trump for his signature.   

Late last month, with shops and restaurants nationwide forced to shut down due to the coronavirus pandemic, the government launched the PPP to provide 350 billion U.S. dollars in what were essentially grants as long as businesses use the funds to pay their workers. Banks were flooded with requests and the money quickly ran out.  

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According to Schumer and Treasury Secretary Steve Mnuchin, who spoke of the negotiations Sunday, the new tranche would include 300 billion U.S. dollars in new small business funding, plus 75 billion U.S. dollars for critically underfunded hospitals and 25 billion U.S. dollars to expand coronavirus testing.  

On testing, "you need a national strategy, and the president and Mnuchin and (acting chief of staff Mark) Meadows agreed to that, to their credit, and it will be in the proposal." The deal also reportedly would provide for roughly 60 billion U.S. dollars in grants and loans for economic disaster aid.  

Republicans and Democrats have been battling for more than a week over what to include in the fourth round of financial stimulus intended to ease the heavy economic toll of a pandemic that has killed more than 42,000 Americans.

Republicans earlier had insisted on passing a clean, straightforward measure to fund just the small business program, but Democrats successfully fought for additions.  

There was no immediate announcement of a deal, however, from the Republican side. Republicans control the Senate, and aides cautioned there was no deal until that announcement was made.

But Schumer said Republicans resisted sending more money to state and local governments. 

If the Republican-majority Senate passes the bill on Tuesday, it could move to the Democratic-majority House as soon as Thursday, House leaders said.

(With input from AFP, Reuters)