House Democrats' coronavirus relief bill expected to cost $3T

The House Democrats' new coronavirus relief package is expected to cost $3 trillion as the party prepares to release legislative text on the bill later today and vote on Friday

"Looking like this bill will be $3 trillion," one House Democrat told The Hill.

The bill is expected to include at least $800 billion in funds for state and local governments, along with funding to subsidize rent and mortgage payments, protect elections, assist the struggling U.S. Postal Service and help students facing loan payments.

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"We will move forward in a big way, because we have a big challenge to our country," Speaker Nancy PelosiNancy PelosiKamala Harris makes history — as a Westerner On The Money: McConnell says it's time to restart coronavirus talks | New report finds majority of Americans support merger moratorium | Corporate bankruptcies on pace for 10-year high McConnell: Time to restart coronavirus talks MORE (D-Calif.) said in a Friday interview on C-SPAN, noting that the price tag would be "big."

When C-SPAN's Steve Scully asked if the bill would approach $2 trillion, she responded, "you're getting warmer."

If passed, the bill would become the largest piece of legislation in U.S. history, eclipsing the $2.2 trillion CARES Act that was passed in late March to deal with the initial response to COVID-19.

However, Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellMcConnell warns control of Senate 'could go either way' in November On The Money: McConnell says it's time to restart coronavirus talks | New report finds majority of Americans support merger moratorium | Corporate bankruptcies on pace for 10-year high McConnell: Time to restart coronavirus talks MORE (R-Ky.) has indicated he has no intention of bringing the bill up for consideration in the upper chamber, saying that the GOP is in wait-and-see mode.

"We're basically assessing what we've done already. I'm in constant communication with the White House, and if we decide to go forward, we'll go forward together,” McConnell told reporters on Monday. "I don’t think we have yet felt the urgency of acting immediately. That time could develop, but I don’t think it has yet.”

Pelosi criticized McConnell's plan of action on Monday night, telling MSNBC's Chris Hayes that hunger, rent and hardship do not “take a pause" — a reference to a previous comment by the Kentucky Republican on how the Senate planned to proceed legislatively.

House Majority Leader Steny HoyerSteny Hamilton HoyerLawmakers of color urge Democratic leadership to protect underserved communities in coronavirus talks The Hill's Morning Report - Presented by Facebook - Trump to Democratic negotiators: 'They know my phone number' House will be out of session for additional week in September MORE (D-Md.) told House Democrats on a conference call Tuesday that his "expectation" is the Democratic bill will be released later on Tuesday, setting lawmakers up for a vote on Friday.