Democrats are struggling to get the House to pass a $1.1 trillion package of relief from the economic damage caused by the devastating hurricane, which has shuttered more than 90 percent of U.S. banks.
The House is expected to take up the $1 trillion relief package Thursday.
The legislation will be unveiled at a news conference by Sen. Chuck Schumer (D-N.Y.), who will deliver a short address, followed by a House floor vote.
Democrats are still trying to make up ground in their bid to win over House Republicans, who have opposed much of the relief package and are divided on how to respond to the crisis.
“If you look at the numbers, this is a very, very expensive disaster,” said Democratic Rep. Adam Schiff of California, a member of the House Intelligence Committee.
“It’s a very expensive job for the federal government to do.”
Schiff said Democrats are trying to get a deal with Republicans that will not include the debt ceiling, which would have forced Congress to shut down for the rest of the year.
Democrats say they would use any money available to help businesses and families impacted by the hurricane to help rebuild, including billions of dollars in additional spending to pay down the national debt.
Republicans say the money should be used to pay for infrastructure and other things the country needs to help people, such as schools and housing.
Democrats have not been able to pass any significant measures in the past.
The last time the House approved a package of $1 billion in relief, Democrats passed the relief measure with no debt ceiling and nearly $2 trillion in deficit reduction.
In a sign of the political differences that remain, Schumer is expected only to speak briefly to members of his caucus, who are also eager to see the measure passed, and to offer some concessions on the debt limit.
Schumer has not ruled out a possible compromise on the tax bill.
“We’re still working through the details, but I am confident that we can come to a deal that does not add to the debt,” he said.
“The goal is to get as much relief as possible for the people who need it.”
He is not expected to address the continuing fiscal cliff, which requires the federal deficit to be reduced or eliminated in order to prevent another recession.
The fiscal cliff was created after the recession that led to the Great Recession.
It requires all federal spending to be cut by at least 10 percent by 2019, a goal that Democrats have set for themselves.
The bill will give Congress $1 in each $1 of additional spending the president sets aside for economic stimulus and $10 in each of the $10 billion set aside for the disaster relief package.
The deal will also allow lawmakers to take a $250 billion loan for a variety of emergency assistance programs.
Democrats also want to give $25 billion to the U.N. to help relief workers and $2 billion for state and local governments.
Republicans have been more willing to allow spending cuts.
They have said the $250 million for relief and the $2.5 billion loan should be sufficient to cover the costs of rebuilding, including $10 million for a disaster relief fund.
They say the $300 billion loan would be enough to make rebuilding work, but not enough to cover spending on other priorities.