The White House said Saturday that the third stimulus package would reach approximately $1.4 trillion—about 30 percent of all federal spending in a typical fiscal year— as negotiations on Capitol Hill over the relief effort are ongoing amid the coronavirus outbreak rocking the nation.White House Economic Adviser Larry Kudlow said that phase three of the stimulus package would reach between $1.3 and $1.4 trillion before leverage from the Federal Reserve for loan guarantees.CLICK HERE FOR COMPLETE CORONAVIRUS COVERAGE“We’re about $1.3 to $1.4 trillion programmatically, not including the leverage from the Fed,” Kudlow said Saturday. “We will generate some loan guarantee facilities from the Fed.”Kudlow explained that those loan guarantees are capitalized in the Exchange Stabilization Fund which is owned and run by the Treasury Department.“We’ll probably seek additional authorization for that,” Kudlow said, without providing a concrete figure. “It’s not a controversial point, but it’s something that both sides agree on because it’s going to help out some distressed areas…airplanes are one of them.”Kudlow’s comments come as negotiations between Trump administration officials and Senate Republicans and Democrats resumed over the massive stimulus package.Senate Majority Leader Mitch McConnell, R-Ky., who had anticipated working through the weekend to solidify a plan, had hoped for

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