investing.com 20 Dec, 2020 07:15 am

Congress poised to vote on COVID aid package after Fed compromise By Reuters

Congress poised to vote on COVID aid package after Fed compromise

31, when they expire under the CARES Act COVID-19 relief legislation passed in March.Toomey spokesman Steve Kelly said the senator's agreement with Schumer "rescinds more than $429 billion in unused CARES Act funds; definitively ends the CARES Act lending facilities by December 31, 2020; stops these facilities from being restarted; and forbids them from being duplicated without congressional approval.Congress appeared poised to vote on Sunday on a $900 billion coronavirus aid package after senators struck a late-night compromise to clear one of the final hurdles, a dispute over Federal Reserve pandemic lending authorities." Congressional leaders plan to attach the coronavirus aid package, which includes $600 direct payments to individuals and a $300 per week unemployment compensation supplement, to a $1.

Senator Pat Toomey, a Pennsylvania Republican, had insisted on language that would guarantee that the central bank could not renew emergency lending programs for small businesses and state and local governments after Dec." The Senate adjourned a rare Saturday session with a call from Republican leader Mitch McConnell to avoid last-minute disagreements that could delay new funding for Americans and small businesses.

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