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Top House Republican McCarthy confirms deal reached on small business loan bill

FILE PHOTO: U.S. House Minority Leader Kevin McCarthy (R-CA) speaks to the media after a meeting in the office of House U.S. Senate Majority Leader Mitch McConnell (R-KY) to wrap up work on coronavirus economic aid legislation, during the coronavirus disease (COVID-19) outbreak, in Washington, U.S., March 22, 2020. REUTERS/Mary F. Calvert

WASHINGTON (Reuters) - The top Republican in the U.S. House of Representatives said on Tuesday that a deal had been reached to replenish funding for an emergency program that extends loans to small businesses hit by a drop in demand due to the coronavirus pandemic.

“There is a deal that is done,” House Republican leader Kevin McCarthy told Fox News Channel.

Reporting by Tim Ahmann; Editing by Chizu Nomiyama