WASHINGTON - America's leaders face an urgent set of decisions on whether to extend history's biggest rescue effort - or let parts of it lapse.
These kind of cut-off dates, when past decisions dictate a big change in net government spending unless further action is taken, are sometimes known as"fiscal cliffs".The Trump administration wants another relief Bill, with a price tag not exceeding US$1 trillion, before lawmakers head out of town for summer recess in early August.
Republicans are concerned that the payments could deter people from resuming their jobs, and want some of the stimulus channelled into a"back-to-work bonus" instead. SMALL BUSINESS The deadline to apply for more than US$132 billion still available in the small-business relief programme has been extended until Aug 8.
MORTGAGE BORROWERS The CARES Act set up a forbearance programme that covered federally insured mortgages. The total payments on loans that qualify for the plan would be about US$55 billion a month, the New York Fed estimates.
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