Billy House

Talks to break an impasse over a new virus relief package become increasingly urgent this week with millions of jobless Americans left without additional aid, and the Senate scheduled to leave for an extended break on Friday.

The House gave final last-minute congressional approval Wednesday to extending the popular loan program for small businesses until Aug. 8, hours after the deadline for applications lapsed with more than $130 billion still available.

Under the Senate legislation, if a company can’t show that it is not under control of a foreign government, or the PCAOB isn’t able to audit the company for three consecutive years to determine that is the case, the company’s securities would be banned from the exchanges.

The measure, passed 208-199, would give cash-strapped states and local governments more than $1 trillion while providing most Americans with a new round of $1,200 checks

House Speaker Nancy Pelosi dismissed President Donald Trump’s call for a payroll tax cut and changes in the capital gains tax, saying it wouldn’t help millions of unemployed workers and others struggling in an economy shut down by the pandemic.