Biden administration extends federal student loan payment pause until May
A moratorium was scheduled to expire early in 2022.
By Nick Anderson and Jeff SteinDecember 22, 2021Biden aides see March 2021 rescue package as initial economic buffer against omicron
Restaurants are closing and people are canceling plans because of the virus’s latest surge, but the White House doesn’t see the need for a big cash infusion — yet.
By Jeff SteinDecember 22, 2021Manchin’s private offer to Biden included pre-K, climate money, Obamacare — but excluded child benefit
The West Virginia Democrat tried to pare back a tax and spending package, stripping out pieces the White House wanted to keep.
By Jeff Stein and Tyler PagerDecember 20, 2021More than 40 House Democrats urge Treasury Department to unfreeze Afghanistan’s bank reserves
The letter comes as experts warn of an increasingly dire humanitarian situation in Afghanistan.
By Jeff SteinDecember 20, 2021Lawmakers, business leaders begin to raise alarms about dwindling federal aid, as omicron cases rise across U.S.
Over the course of the nearly two-year pandemic, Congress has committed more than $5 trillion toward combating the contagion. But some of the most significant programs to keep businesses afloat and help families pay their bills have expired or run out of funds, raising new risks for a fragile recovery now trying to withstand the fast-spreading omicron variant.
By Tony RommDecember 19, 2021Manchin says he ‘cannot vote’ for Democrats’ $2 trillion spending package, drawing sharp White House rebuke
"I cannot vote to continue with this piece of legislation, I just can’t,” Manchin said on "Fox News Sunday," citing the impacts of rising prices, the arrival of a new coronavirus variant and other domestic and international challenges.
By Tony RommDecember 19, 2021Biden says resolving differences on $2 trillion spending package could take ‘weeks’
The stunning acknowledgment after months of negotiations — some even involving Biden personally in recent days — reflected a party struggling to overcome its own, long-simmering divides and finalize a spending proposal that has bedeviled them for months.
By Tony RommDecember 16, 2021Fed pivots toward tackling inflation, forecasting three rate hikes in 2022
The change in policy marks a significant shift in how the Fed is responding to economic pressures during the coronavirus pandemic, and could affect everything from mortgages and car loans to business investments.
By Rachel SiegelDecember 15, 2021Democrats’ $2 trillion spending plan in political peril as talks between Biden, Manchin appear to hit snag
The sticking points include the fate the child tax credit, a Democratic priority that Manchin hopes to strip from the bill in full, sources said.
By Tony Romm and Seung Min KimDecember 15, 2021Congress approves measure that would raise debt ceiling by $2.5 trillion
Congressional Democrats were racing to approve the measure so the Treasury Department can continue borrowing money.
By Tony RommDecember 15, 2021Manchin, Biden discuss ‘different iterations’ of spending bill as Democrats seek consensus
The West Virginia Democrat has expressed caution about size and scope of spending package.
By Tony RommDecember 13, 2021Inflation pinch challenges Biden agenda, but president says worst will soon pass
Prices keep climbing and the president is working to convince critics that his agenda will help, not hurt.
By Jeff Stein and Ashley ParkerDecember 10, 2021Republicans help Senate Democrats approve bipartisan deal to avert debt ceiling crisis
The compromise, which now heads to President Biden’s desk, essentially puts to rest a fierce, months-long battle between Democrats and Republicans and appears to postpone the next round of wrangling over the country’s financial health until after the 2022 midterm election.
By Tony RommDecember 9, 2021Democrats face race against the clock to extend soon-expiring child tax credit payments
A new federal program that provides monthly payments to an estimated 35 million families with children is set to expire at the end of December.
By Tony RommDecember 9, 2021Senate votes to repeal key Biden administration vaccine and testing policy
In their most public, forceful protest to date, Republicans muscled to passage a proposal that aims to repeal the Biden administration’s rules ordering large private businesses to require vaccination or implement comprehensive coronavirus testing for workers.
By Tony RommDecember 8, 2021House adopts bill opening door for lawmakers to raise debt ceiling, after Democrats, Republicans strike deal
Democrats and Republicans said Tuesday they had secured a deal to raise the country’s debt ceiling.
By Tony Romm and Mike DeBonisDecember 7, 2021Manchin renews criticism of Democrats’ $2 trillion economic package, raising fresh obstacles to passage
For Manchin, the package may be too large in size and scope, it may not be financed it full, it might intensify a recent uptick in prices and it could inflict other harm on the economy, he said Tuesday at an event hosted by The Wall Street Journal.
By Tony RommDecember 7, 2021Treasury officials raised concerns about new minimum tax on corporations, key to Biden spending plan
Officials in the department’s Office of Tax Policy felt the new 15 percent minimum tax could lead to unintended consequences and prove difficult to enforce.
By Jeff SteinDecember 7, 2021Senate revs up work on $2 trillion spending proposal, aiming to complete vote on Biden-backed bill before Christmas
Writing to lawmakers on Monday, Senate Majority Leader Charles E. Schumer (D-N.Y.) affirmed the aggressive timeline, warning that there are “long days and nights, and potentially weekends,” ahead of the chamber for it to finish a fuller array of legislative legwork before the end of the year.
By Tony RommDecember 6, 2021Advocates push nationwide movement for land return to Blacks after victory in California
Would the Bruce’s Beach case be a one-off, or a tipping point in a national struggle over Black land ownership?
By Erica Werner and Troy McMullenDecember 6, 2021