As negotiations continued into the evening, Mr. Schumer told reporters, “I think tonight is hard.”
Cementing the deal will require both Republicans and Democrats smooth over divides among themselves over how to deliver aid to families and businesses quickly and fairly. Lawmakers, emerging briefly from ongoing negotiations over the course of the day, acknowledged that the pressure to act under remarkable circumstances would help ease the sting of policy disagreements and a price tag that could eclipse the $1 trillion proposed by the administration.
Mr. McConnell introduced a bill on Thursday that would send checks of up to $1,200 to taxpayers who earn up to $99,000; deliver large corporate tax cuts; and put into place loans for businesses and industries. It would also curb an emergency paid leave program enacted this week. But elements of that package are facing opposition from Democrats — and even some Republicans.
Mr. Schumer spoke twice by phone with President Trump on Friday to discuss the details of the package, including an idea Senate Democrats are calling a “Marshall Plan” to send substantial federal funds to hospitals, particularly small and rural institutions, increasing unemployment insurance and expanding paid leave.
At the White House shortly after, Mr. Trump appeared optimistic about the prospects for a quick agreement, saying, “We’re not so far away, we’re not very far away.”
The president, speaking at a news conference, also endorsed the idea of preventing companies who use government aid from buying back shares, saying he discussed the limitations with Mr. Schumer.
“I don’t want some executive saying we’re going to buy 200,000 shares of stock,” Mr. Trump said. “I want that money to be used for the workers and also for the company, to keep the company going.”
On Capitol Hill, Mr. McConnell and Mr. Schumer met with more than a dozen top Democratic and Republican senators, as well as administration officials, led by Steven Mnuchin, the Treasury secretary, and Larry Kudlow, the top White House economic adviser. In a cavernous hearing room across from the Capitol, they sat at long tables several feet apart from one another, in line with public health guidelines that advise social distancing to curb the spread of the virus. At least one negotiator, Senator Sherrod Brown, Democrat of Ohio, went a step further and joined the meeting by phone.