America's labor market is years away from healing, the nonpartisan Congressional Budget Office said Monday.
U.S. Policy
The GOP proposal would significantly narrow eligibility for a new round of $1,400 stimulus checks Biden wants to send to individual Americans.
Republicans chafed openly Thursday over Democrats’ go-it-alone strategy on President Biden’s $1.9 trillion coronavirus relief bill, warning they might come to regret it, even as Democrats formalized plans to move forward on their own.
How will the government react to an expose?
Only 38 Senate Democrats support the measure, and it is expected to face unified Republican opposition.
Powell’s comments come as Biden administration ups pressure on Congress to pass relief bill with massive funding for vaccines.
In a 2:30 ET press conference, Powell is expected to take questions on the economic outlook, the role of fiscal policy and what more the Fed can do to aid the recovery.
The legislation includes a new round of $1,400 stimulus checks; an increase and extension of emergency unemployment benefits that are set to expire in mid-March; an increase in the minimum wage to $15 an hour; and hundreds of billions of dollars for state and local governments, schools, vaccine production and distribution, increased testing, and more.
The Trump administration also attempted to have the federal government buy more goods made in the U.S.
The former chair of the Federal Reserve faces a daunting list of economic projects.
The private Zoom call Sunday that included key centrist lawmakers from both parties was an early test of whether Biden’s relief plan has a chance of passing Congress with bipartisan backing.
Biden may find he can get a big plan or a bipartisan plan — but not both.
Biden is asking the Department of Agriculture to allow states to increase Supplemental Nutrition Assistance Program (SNAP) benefits — food assistance formerly called food stamps, and to increase by 15 percent benefits awarded through a school meals programs for low-income schools started during the pandemic, according to Biden officials. That could give a family of three children more than $100 in extra benefits every two months, according to administration officials.
Senior Democratic lawmakers are drafting legislation to have the IRS send recurring monthly payments to tens of millions of American families.
President-elect Joe Biden plans to sign a slew of executive orders Wednesday afternoon aimed at unwinding President Trump’s environmental legacy, from restoring boundaries to national monuments to rejoining the Paris climate accord to reviving the government's role in protecting the air, water and endangered species.
Millions of renters are at risk of eviction if the current moratorium is allowed to lapse. Biden will extend it through March.
The D.C. Circuit Court of Appeals vacated a Trump administration rule on carbon dioxide emissions, effectively restoring President Barack Obama's Clean Power Plan, which limited those pollutants from power plants.
The U.S. is an outlier for its lack of mandatory paid sick leave. Biden's plan seeks to eliminate loopholes that prevented some 100 million workers from accessing it during the pandemic.
The incoming treasury secretary is expected to face major decisions crucial to the global economy.
