US relief deal falters again as new funding deadline looms
Patricia Zengerle and David Lawder
Dec 20, 2020 – 2.07pm
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Washington | US lawmakers struggled on Saturday (Sunday AEDT) to clear final hurdles to a $US900 billion ($1.2 trillion) coronavirus aid bill, including a dispute over Federal Reserve emergency lending authorities, pushing any deal closer to a Sunday night government funding deadline.
The US Senate adjourned a rare Saturday session with a call from Senate Republican leader Mitch McConnell to avoid last-minute disagreements that could delay new funding for Americans and small businesses struggling with the steep economic and health costs of the COVID-19 pandemic.
WASHINGTON (Reuters) -U.S. congressional leaders reached agreement on Sunday on a $900 billion package to provide the first new aid in months to an economy and individuals battered by the surging coronavirus pandemic, with votes likely on Monday.
The package would be the second-largest economic stimulus in U.S. history, following a $2.3 trillion aid bill passed in March. It comes as the pandemic accelerates, infecting more than 214,000 people in the country each day. More than 317,000 Americans have already died. At long last, we have the bipartisan breakthrough the country has needed, Republican Senate Majority Leader Mitch McConnell said on the Senate floor, following months of contentious debate.
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“We need to pass these measures with a big, bipartisan vote and get them signed into law without further delay,” he said.
As talks continued, no vote on the package was expected before Sunday afternoon.
Both Republicans and Democrats say they are close to a deal, but talks ran into a new stumbling block late this week when some Republicans, led by Senator Pat Toomey, began a push to rein in Federal Reserve lending programs for midsize businesses and municipal bond issuers intended to ease the pandemic’s sting.
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US$900 billion aid plan stalls in Congress
2020-12-20 HKT 10:58 Share this story
The last major sticking point to billions of dollars in aid is a Republican push to limit the ability of the Federal Reserve Bank to issue emergency loans to small businesses and state and local governments. Photo: Reuters US lawmakers are struggling to clear final hurdles to a US$900 billion coronavirus aid bill, including a dispute over Federal Reserve emergency lending authorities, pushing any deal closer to a Sunday night government funding deadline.
The US Senate adjourned a rare Saturday session with a call from Senate Republican leader Mitch McConnell to avoid last minute disagreements that could delay new funding for Americans and small businesses struggling with the steep economic and health costs of the Covid-19 pandemic.