Congressional leaders have resolved the final major issue delaying passage of a nearly $1-trillion economic aid package to extend federal unemployment payments and forgivable loans for small businesses, and to give direct cash payments to many Americans, according to a Democratic aide. With time running out, the bipartisan deal among the top four congressional leaders must be passed by the House and Senate and signed by President Trump to become law. The additional federal unemployment aid created by Congress in March in the so-called CARES Act expires Saturday, and most other benefits lapse before the end of the year. The aid package will be included as part of a must-pass $1.4-trillion package to fund the operations of federal agencies through this fiscal year ending Sept. 30. Congress has passed several short-term resolutions to extend federal departments’ funding and keep the government open while the aid package was being negotiated, with the current deadline being the end of Sunday.

Source: Los Angeles Times December 20, 2020 15:00 UTC