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On one closely watched issue, Republican Sen. Joni Ernst of Iowa offered an amendment to prevent a hike in the minimum wage to $15 an hour during a pandemic

Democrats want to include a $15 minimum wage in the Covid relief bill, but her measure could have been complicated for centrist members

But before a roll call vote was called, Sen. Bernie Sanders, the Vermont Independent who is the chair of the Budget Committee and a champion of the $15 minimum wage, intervened and said his proposal would actually make the jump to $15 over five years, not right away as Ernst had formulated in her amendment.

The budget resolution that passed is not the Covid relief bill. It simply sets the stage for Democrats to be able to use a process known as "budget reconciliation" to pass the relief bill on a party-line vote, possibly in late February or March, after the impeachment trial of former President Donald Trump is complete in the Senate.

The House already passed the budget measure earlier in the week.

Biden has said he is willing to go forward without the support of Republicans, but he's also stressed that he's willing to make certain concessions if it will earn bipartisan support.

Congressional Democrats have also made clear that they think time is of the essence on the proposal, and a deep divergence remains between Biden's $1.9 trillion and the $618 billion GOP proposal.

The counterproposal still includes $160 billion to battle the pandemic, but Republican senators want to send smaller, more targeted relief checks and only extend unemployment benefits through June, not September.

White House press secretary Jen Psaki reiterated during a briefing this week there are certain "bottom lines" that Biden wants to be in the next round of Covid-19 relief

"His view is that at this point in our country, when 1-in-7 American families don't have enough food to eat, we need to make sure people get the relief they need and are not left behind,"

Republicans are unhappy Democrats are resorting to the aggressive tactic, though, arguing it will set a partisan tone for the rest of Biden's presidency and that he's not operating as the political unifier he pledged to be

The 10 Senate Republicans who met with the President to discuss his relief package are pushing for talks to continue

Biden's relief proposal now shifts to Congress, where it may change substantially as Democratic leaders transform it into a bill. They must decide whether they want to use a special legislative process called reconciliation, which would require only a simple majority of votes to pass the Senate -- eliminating the need for Republican support -- but would limit the provisions that could be included. Also, reconciliation also be used only sparingly each year.

In his speech Thursday night, Biden said he would like to work with members of both parties to enact his American Rescue Plan, indicating that he wants to go the traditional route, which would require the backing of at least 10 Republican senators.

Whatever leaders decide, the effort is expected to have an easier time passing in the House -- which approved a $3 trillion relief package last May that contained measures similar to those in Biden's plan -- even though Democrats now hold a slimmer majority there.

In coming weeks, senators will have their hands full with President Donald Trump's impeachment trial and with voting on the President-elect's Cabinet nominees, none of whom have been confirmed yet.

Democratic Rep. Alexandria Ocasio-Cortez of New York told The Washington Post on Thursday that people should get an additional $2,000 in stimulus checks on top of the $600 they received as part of the $900 billion relief package lawmakers passed last month -- more than the $1,400 top-off payment Biden is suggesting.

One of those senators is Joe Manchin, a moderate Democrat from West Virginia. He has recently expressed doubts over providing $2,000 in stimulus payments, preferring a more targeted approach.

President-elect Joe Biden unveiled a $1.9 trillion relief package Thursday that included more stimulus payments and other direct aid, but don't expect to see those funds in your bank account anytime soon.

Mr. Hoenig devised a list of three criteria for banks that could be exempted from some regulations without posing risks to the financial system and taxpayers.The winners: banks that hold no trading assets or liabilities, those that have no derivatives positions other than plain-vanilla interest-rate swaps and foreign exchange derivatives and, finally, banks whose notional value of all derivatives exposures totals less than $3 billion.

Roughly 6,100 of the more than 6,500 commercial banks would pass this test, according to the F.D.I.C. Of the remaining 400 that would not, many are behemoths: 310 of them have more than $250 million in assets.Clearly, this is a regulatory relief proposal that benefits bankers on Main Street, not Wall Street.

it’s not only small banks that could catch a break on regulations under the Hoenig plan. His office said it had identified 18 banks with total assets greater than $10 billion that would qualify

Banks meeting the criteria set out by Mr. Hoenig would not be exempt from the Volcker Rule, which was intended to separate banks’ risk-taking trading desks from their federally insured units. That’s because these banks aren’t engaging in these kinds of practices.

The clamor for regulatory relief from large and politically connected financial institutions has been a constant ever since Dodd-Frank was enacted five years ago. First, these institutions worked to water down the rules as the regulators were writing them. Now they are pushing for repeal.

“Obviously it’s an improvement, but I think that it is inadequate given the health care crisis that we’re in,” said Representative Ro Khanna, a progressive Democrat from California who favors the single-payer, government-run system called Medicare for All that has been embraced by Senator Bernie Sanders, independent of Vermont, and the Democratic left.

“We’re in a national health care crisis,” Mr. Khanna said. “Fifteen million people just lost private health insurance. This would be the time for the government to say, at the very least, for those 15 million that we ought to put them on Medicare.”

The stimulus bill would make upper-middle-income Americans newly eligible for financial help to buy plans on the federal marketplaces, and the premiums for those plans would cost no more than 8.5 percent of an individual’s modified adjusted gross income. It would also increase subsidies for lower-income enrollees.

Just when Mr. Biden or Democrats would put forth such a plan remains unclear, and passage in an evenly divided Senate would be an uphill struggle. White House officials have said Mr. Biden wants to get past the coronavirus relief bill before laying out a more comprehensive domestic policy agenda.

The Affordable Care Act is near and dear to Mr. Biden, who memorably used an expletive to describe it as a big deal when he was vice president and President Barack Obama signed it into law in 2010. It has expanded coverage to more than 20 million Americans, cutting the uninsured rate to 10.9 percent in 2019 from 17.8 percent in 2010.

Mr. Biden made clear when he was running for the White House that he did not favor Medicare for All, but instead wanted to strengthen and expand the Affordable Care Act. The bill that is expected to reach his desk in time for a prime-time Oval Office address on Thursday night would do that. The changes to the health law would cover 1.3 million more Americans and cost about $34 billion, according to the Congressional Budget Office.

Even so, some 30 million Americans were uninsured between January and June 2020, according to the latest figures available from the National Health Interview Survey. The problem has only grown worse during the coronavirus pandemic, when thousands if not millions of Americans lost insurance because they lost their jobs.

Republicans have always said that their plan was to repeal and replace the health law, but after 10 years they have yet to come up with a replacement. Mr. Ayres said his firm is working on “coming up with some alternative health care message” that does not involve “simply throwing everybody into a government-run health care problem.”

Yet polls show that the idea of a government-run program is gaining traction with voters. In September, the Pew Research Center reported that over the previous year, there had been an increase, especially among Democrats, in the share of Americans who say health insurance should be provided by a single national program run by the government.

“I would argue there is more momentum for Medicare expansion given the pandemic and the experience people are having,” said Mr. Khanna, the California congressman. “They bought time, but I think at some point there will be a debate on a permanent fix.”

But because those provisions last only two years, the relief bill almost guarantees that health care will be front and center in the 2022 midterm elections, when Republicans will attack the measure as a wasteful expansion of a health law they have long hated. Meantime, some liberal Democrats may complain that the changes only prove that a patchwork approach to health care coverage will never work.

Under the changes, the signature domestic achievement of the Obama administration will reach middle-income families who have been discouraged from buying health plans on the federal marketplace because they come with high premiums and little or no help from the government.

“For people that are eligible but not buying insurance it’s a financial issue, and so upping the subsidies is going to make the price point come down,” said Ezekiel Emanuel, a health policy expert and professor at the University of Pennsylvania who advised Mr. Biden during his transition.

WASHINGTON — President Biden’s $1.9 trillion coronavirus relief bill will fulfill one of his central campaign promises, to fill the holes in the Affordable Care Act and make health insurance affordable for more than a million middle-class Americans who could not afford insurance under the original law.

The Affordable Care Act is near and dear to Mr. Biden, who memorably used an expletive to describe it as a big deal when he was vice president and President Barack Obama signed it into law in 2010. It has expanded coverage to more than 20 million Americans, cutting the uninsured rate to 10.9 percent in 2019 from 17.8 percent in 2010.

The poll found that 36 percent of Americans, and 54 percent of Democrats, favored a single national program. When asked if the government had a responsibility to provide health insurance, either through a single national program or a mix of public and private programs, 63 percent of Americans and 88 percent of Democrats said yes.

Just when Mr. Biden or Democrats would put forth such a plan remains unclear, and passage in an evenly divided Senate would be an uphill struggle. White House officials have said Mr. Biden wants to get past the coronavirus relief bill before laying out a more comprehensive domestic policy agenda.

Republicans have always said that their plan was to repeal and replace the health law, but after 10 years they have yet to come up with a replacement. Mr. Ayres said his firm is working on “coming up with some alternative health care message” that does not involve “simply throwing everybody into a government-run health care problem.”

In January, he ordered the Affordable Care Act’s health insurance marketplaces reopened to give people throttled by the pandemic economy a new chance to obtain coverage.

Yet polls show that the idea of a government-run program is gaining traction with voters. In September, the Pew Research Center reported that over the previous year, there had been an increase, especially among Democrats, in the share of Americans who say health insurance should be provided by a single national program run by the government.

With its expanded subsidies for health plans under the Affordable Care Act, the coronavirus relief bill makes insurance more affordable, and puts health care on the ballot in 2022.

cludes rich new incentives to entice the few holdout states — including Texas, Georgia and Florida — to finally expand Medicaid to those with too much money to qualify for the federal health program for the poor, but too little to afford private covera

“Biden promised voters a public option, and it is a promise he has to keep,” said Waleed Shahid, a spokesman for Justice Democrats, the liberal group that helped elect Representative Alexandria Ocasio-Cortez and other progressive Democrats. Of the stimulus bill, he said, “I don’t think anyone thinks this is Biden’s health care plan.”

“I think that argument has been fought and lost,” said Whit Ayres, a Republican pollster, conceding that the repeal efforts are over, at least for now, with Democrats in charge of the White House and both houses of Congress.

"It depends on when we get the paper from the Senate," Pelosi said on Monday. "It has to be very precise, and it takes time to do that. It has some changes that they have to precisely write. It could be that we get it tomorrow afternoon and then it has to go to Rules. And we'd take it up Wednesday morning at the latest."

House Majority Leader Steny Hoyer said Monday that the relief bill had not made its way back to the House yet. "I talked to Leader Schumer. He said as soon as they could get it ready, but it was complicated and they were working on it," Hoyer said when asked about the delay in sending the bill back to the House.

that a final vote on the bill could come Tuesday or Wednesday.

"We are very excited that this bill will pass imminently. If not today, it will be scheduled for a vote tomorrow," Clarke said

The Senate version of the bill largely mirrors the $1.9 trillion package first approved by the House and laid out by President Joe Biden in January.

The sweeping aid legislation originally passed the Democrat-controlled House at the end of February, but it needs to be taken up in the chamber again following changes made to the legislation in the Senate.

The nearly $2 trillion package includes a slate of Democratic priorities, including up to $1,400 stimulus checks to many Americans, and billions of dollars for states and municipalities, schools, small businesses and vaccine distribution. It also extends a 15% increase in food stamp benefits from June to September, helps low-income households cover rent, makes federal premium subsidies for Affordable Care Act policies more generous and gives $8.5 billion for struggling rural hospitals and health care providers.

Pelosi said she does not expect more Democrats to vote against the bill because of the changes that were made in the Senate, saying, "I think more will vote for it," and that she felt "sad" for Republicans who will vote against it

Asked about bipartisanship, Clark told Berman this is a "time of great divide" but said they'll find issues to work on together. She also said the lack of support by Republicans on certain measures was "stunning."

Progressive Democrats have expressed frustration over changes made to the legislation, but top progressives are not signaling that they will jeopardize its passage in the House.

"I don't think that the changes the Senate made were good policy or good politics," Jayapal said. "However, they were relatively minor in the grand scheme of things, with the exception of course in the $15 minimum wage."

An estimated 11.4 million workers will lose their unemployment benefits between mid-March and mid-April unless Congress passes its next coronavirus relief package quickly, a recent study by The Century Foundation found.

Key features of the plan include up to $1,400-per-person stimulus payments that will send money to about 90% of households, a $300 federal boost to weekly jobless benefits, an expansion of the child tax credit of up to $3,600 per child and $350 billion in state and local aid, as well as billions of dollars for K-12 schools to help students return to the classroom, to assist small businesses hard-hit by the pandemic and for vaccine research, development and distribution.

But the Senate kept the income thresholds the same for who gets the full payments: individuals earning less than $75,000 a year and married couples earning less than $150,000 will receive $1,400 per person, including children.

An estimated 11.4 million workers will lose their unemployment benefits between mid-March and mid-April unless Congress passes its next coronavirus relief package quickly, a recent study by The Century Foundation found.

The vote on the motion to adjourn failed by a tally of 149 to 235 with a significant number of Republicans voting in opposition, the largest number of Republicans to vote against Greene's motion to adjourn since the Georgia freshman started pulling the move.

“We need more direct relief flowing to families, small businesses, including finishing the job of getting people that $2,000 in relief direct payment—$600 is simply not enough,” he said.

Mr. Biden also pointed to historically low interest rates and the Federal Reserve’s limited ability to support credit to small businesses and municipalities as reasons to tolerate higher deficit spending to support economic growth.

you should be investing significant amounts of money right now to grow the economy,

Mr. Biden also said Mr. Trump was unfit to serve as president and that it was a good thing he wasn’t planning on attending his Jan. 20 inauguration. He said he would welcome Vice President Mike Pence to the event.

Mr. Trump said on Twitter hours before Mr. Biden’s appearance that he would not attend, breaking precedent with past outgoing presidents.

Mr. Biden also praised Republicans like Utah Sen. Mitt Romney and Senate Majority Leader Mitch McConnell for standing up to the president’s efforts to overturn the election result. Mr. Biden said Wednesday’s riot made his job of unifying the country easier in some ways since some Republicans were distancing themselves from Mr. Trump.

You can see that readiness at work already in the internal Republican debates about the latest round of coronavirus relief. These debates are somewhat mystifying if you believe that the party has been remade in Trump’s populist image, or alternatively if you just believe that the G.O.P. is full of cynics who attack deficits under Democrats but happily spend whatever it takes to stay in power. Neither theory explains the Republican determination to dramatically underbid the Democrats on relief spending three months before an election, nor the emergence of a faction within the Senate Republicans that doesn’t want to spend more money on relief at all.

these developments are easier to understand if you see the Republican Senate, in what feels like the twilight of the Trump presidency, instinctively returning to its pre-Trump battle lines. The anti-relief faction, with its sudden warnings about deficits, is eager to revive the Tea Party spirit, and its would-be leaders are ur-Tea Partyers like Rand Paul and Ted Cruz. The faction that wants to spend less than the Democrats but ultimately wants to strike a deal is playing the same beleaguered-establishmentarian role that John Boehner and Mitch McConnell played in the pre-Trump party — and of course McConnell is still leading it

the fact that neither approach seems responsive to the actual crisis unfolding in America right now doesn’t matter: The old Tea Party-establishment battle — a battle over whether to cut a deal at all, more than what should be in it — is still the Republican comfort zone, and the opportunity to slip back into that groove is just too tempting to resist.

Some of the Republicans rediscovering deficit hawkishness — including non-senators like Nikki Haley — are taking a Joe Biden presidency for granted and positioning themselves as the foes of a big-government liberalism before it even takes power, in the hopes of becoming the leaders of the post-2020 opposition

There is also that group my staffer friend mentioned, the senators who accept that Trumpism really happened, and who envision a different party on the other side.

You can identify the members of this group both by their willingness to spend money in the current crisis and by their interest in how it might be spent. That means Marco Rubio spearheading the small business relief bill. It means Josh Hawley pushing for the federal government to pre-empt layoffs by paying a chunk of worker salaries. It means Tom Cotton defending crisis spending against Cruz’s attack. It means Mitt Romney leading a push to put more of the federal stimulus payments in the hands of families with kids.

the trouble with both the Draper method and the “this happened, let’s learn from it” approaches to the Trump experience is that they assume not only that Trump will lose (a strong bet but of course not a certain one) but also that in defeat he will recede sufficiently to be willfully forgotten, or allow a more robust nationalism to supplant his ersatz, personalized version.

The Senate is expected to amend the House bill on the $1,400-per-person stimulus payments to tighten eligibility.

Individuals earning less than $75,000 a year and married couples earning less than $150,000 will receive $1,400 per person, including children. That will get money to about 90% of households.

The checks will phase out faster than previous rounds, completely cutting off individuals who earn more than $80,000 a year and married couples earning more than $160,000 -- regardless of how many children they have.

Unlike the previous two rounds, adult dependents -- including college students -- are expected to be eligible for the payments

In an effort to combat poverty, it would expand the child tax credit to $3,600 for each child under 6 and $3,000 for each child under age 18. Currently, qualifying families can receive a credit of up to $2,000 per child under age 17.

Out-of-work Americans will start running out of Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation benefits in mid-March, when provisions in December's $900 billion relief package begin phasing out. The $300 enhancement also ends in mid-March.

The parliamentarian ruled in late February that increasing the hourly threshold does not meet a strict set of guidelines needed to move forward in the reconciliation process, which would allow Senate Democrats to pass the relief bill with a simple majority and no Republican votes.The House legislation would increase the federal minimum wage to $15 an hour by 2025 in stages. It would also guarantee that tipped workers, youth workers and workers with disabilities are paid the full federal minimum wage.

The legislation would provide $350 billion to state and local governments, as well as tribes and territories. States and the District of Columbia would receive $195.3 billion, while local governments would be sent $130.2 billion to be divided evenly between cities and counties. Tribes would get $20 billion and territories $4.5 billion.

The House plan would extend the 15% increase in food stamp benefits through September, instead of having it expire at the end of June.It also contains $880 million for the Special Supplemental Nutrition Program for Women, Infants, and Children, known as WIC, to help increase participation and temporarily improve benefits, among other measures. Biden called for investing $3 billion in the program.

The legislation would send roughly $19.1 billion to state and local governments to help low-income households cover back rent, rent assistance and utility bills. About $10 billion would be authorized to help struggling homeowners pay their mortgages, utilities and property taxes. It would provide another $5 billion to help states and localities assist those at risk of experiencing homelessness.

Some senators were looking to make some changes to the House bill, including reducing the federal boost to unemployment benefits to $300 a week and extending the duration of pandemic jobless programs by another month. But these efforts have not progressed.The House bill calls for extending two key pandemic unemployment programs through August 29. It would also increase the federal weekly boost to $400, from the current $300, and continue it for the same time period.

Unlike Biden's proposal, the House bill would not reinstate mandatory paid family and sick leave approved in a previous Covid relief package. But it does continue to provide tax credits to employers who voluntarily choose to offer the benefit through October 1.

The bill would provide nearly $130 billion to K-12 schools to help students return to the classroom. Schools would be allowed to use the money to update their ventilation systems, reduce class sizes to help implement social distancing, buy personal protective equipment and hire support staff. It would require that schools use at least 20% of the money to address learning loss by providing extended days or summer school, for example.

The House bill now includes nearly $40 billion for colleges. Institutions would be required to spend at least half the money to provide emergency financial aid grants to students.

The bill would also provide $39 billion to child care providers. The amount a provider receives would be based on operating expenses and is available to pay employees and rent, help families struggling to pay the cost, and purchase personal protective equipment and other supplies.

Enrollees would pay no more than 8.5% of their income towards coverage, down from nearly 10% now. Also, those earning more than the current cap of 400% of the federal poverty level -- about $51,000 for an individual and $104,800 for a family of four in 2021 -- would become eligible for help.

The bill would provide $15 billion to the Emergency Injury Disaster Loan program, which provides long-term, low-interest loans from the Small Business Administration. Severely impacted small businesses with fewer than 10 workers will be given priority for some of the money. It also provides $25 billion for a new grant program specifically for bars and restaurants. Eligible businesses may receive up to $10 million and can use the money for a variety of expenses, including payroll, mortgage and rent, utilities and food and beverages.

The House bill provides $14 billion to research, develop, distribute, administer and strengthen confidence in vaccines. It would also put $46 billion towards testing, contact tracing and mitigation, including investing in laboratory capacity, community-based testing sites and mobile testing units, particularly in medically underserved areas.It would also allocate $7.6 billion to hire 100,000 public health workers to support coronavirus response.The legislation also provides $50 billion to the Federal Emergency Management Agency, with some of the funds going toward expanding vaccination efforts.The President's plan called for investing $20 billion in a national vaccination program.

Early successes are crucial for presidents, since they must harness their power when it is at its apex early in their terms. Political muscle is built for later legislative fights by enacting priorities and uniting party factions behind a common cause. Presidents who struggle to get early priorities passed are not necessarily doomed. But they risk creating an impression of disarray that can hurt them in their first midterm elections, as was the case with President Bill Clinton's collapsed effort to overhaul American health care.

And progressives who were dismayed by the removal of a hike in the federal minimum wage to $15 an hour elected to bank their gains, staying behind the effort and vowing to fight another day.

The President judged the $600 billion cost of an alternative package offered by 10 GOP senators as insufficient for the scale of the crisis. In votes so far in the House and the Senate, the bill has not attracted a single Republican supporter as Biden's opponents stake out early positions for the midterm elections on the basis of a pro-Trump base of activists who are keen to deny the new President an early victory.

Various polls show that more than 60% of the public supports it, which means some Republican and independent voters are on board.

Some economists, meanwhile, fear that it could trigger an inflationary spike in an economy that already appears to be in recovery and could overheat if there is a swift exit from the pandemic.

"It's a real tragedy when you look at that package. We know that the result of that package is going to be middle-class tax increases," the Wyoming Republican said.

The bill is sure to be a fulcrum of the Democratic midterm election campaign next year.

But if the current pace of vaccinations is maintained and the end game of the pandemic is not derailed by a wave of sickness and death caused by Covid-19 variants, Biden can expect a much faster and more robust economic rebound.

The bill is almost the inverse of Trump's sole major legislative triumph outside of a conservative refashioning of the judiciary: a massive tax cut that cost $1.5 trillion and was targeted mostly at corporations and more well-off Americans.

His initial $1.9 trillion request, not far off half the entire US annual federal budget, is playing into Republican claims that his administration will be rooted in out-of-control socialism.

The partisan nature of the votes on Biden's recovery package also has some Democrats pondering whether to seek to abolish filibuster rules that mean most major legislation needs a 60-vote majority to pass. The $1.9 trillion behemoth was advanced using a process known as reconciliation, which applies only to budget issues and can be used only sparingly.

But it seems equally certain that Democratic priorities like voting rights will die in a 50-50 Senate.

Fudge, who has represented parts of Cleveland and Akron in the House since 2008, was praised by Democrats for her years of work in Congress toward bolstering federal safety net programs and fighting racial inequities in the economy.

She is the former chair of the Congressional Black Caucus and served as mayor of Warrensville Heights, Ohio, from 2000 until she was elected to Congress.

Fudge announced her resignation from the House on Wednesday afternoon after voting for Biden's $1.9 trillion COVID-19 relief plan.

several Republicans fiercely opposed Fudge’s nomination over past heated criticisms of GOP lawmakers and her lack of expertise on housing policy issues.

Senators approved Fudge’s nomination to be HUD secretary on a 66-34 vote. She will be the first woman to hold the position since 1979 and the second Black woman and the third woman ever to lead the department.

More than 11 million U.S. households are facing homelessness after nearly a year of economic peril caused by the coronavirus pandemic.

The coronavirus pandemic has exacerbated the housing affordability crisis that began long before COVID-19 hit the U.S.

President BidenJoe BidenManchin cements key-vote status in 50-50 Senate The Memo: How the COVID year upended politics Post-pandemic plans for lawmakers: Chuck E. Cheese, visiting friends, hugging grandkids MORE is also seeking to dramatically expand public housing and make sorely needed maintenance upgrades to the country’s existing supply of federally supported homes, a longtime goal of Democrats and housing advocates.

Fudge will face those issues with a HUD staff depleted by years of attrition and insufficient hiring.

Fudge vowed during her confirmation process to turn HUD around at a critical moment for the U.S. with a special focus on narrowing the racial inequities in the housing market that have been deepened by COVID-19.

While 7 percent of white households reported being behind on rent or mortgage payments in December, 22 percent of Black households, 18 percent of Hispanic households and 13 percent of Asian households had missed payments,

And while roughly 75 percent of white Americans owned their homes in the fourth quarter of 2020, according to the Census Bureau, only 44 percent of Black Americans did.

Ahead of the vote on Wednesday, Rep. Jason Smith, R-Mo., reiterated Republican opposition to provisions they consider "unrelated" to the pandemic.

But income inequality, widespread child poverty and economic precarity are the problems of our time. It’s worth taking a risk to tackle all this. At first Biden seemed like the third chapter of the Clinton/Obama center-left era. But this is something new.

The law stretches far beyond Covid-19 relief. There’s a billion for national service programs. Black farmers will receive over $4 billion in what looks like a step toward reparations. There’s a huge expansion of health insurance subsidies. Many of these changes, like the child tax credit, may well become permanent.

I’m worried about a world in which we spend borrowed money with abandon.

As Michael Hendrix of the Manhattan Institute notes, America spent $4.8 trillion in today’s dollars fighting World War II. Over the past year, America has spent over $5.5 trillion fighting the pandemic.

There was a premise through American history that if you worked hard you would earn economic security. That’s not as true for millennials and Gen-Z, or many other people across America.

The role of government is being redefined. There is now an assumption that government should step in to reduce economic insecurity and inequality.

The Covid-19 relief law that was just enacted is one of the most important pieces of legislation of our lifetimes. As Eric Levitz writes in New York magazine, the poorest fifth of households will see their income rise by 20 percent; a family of four with one working and one unemployed parent will receive $12,460 in benefits. Child poverty will be cut in half.

This has been one of the most quietly consequential weeks in recent American politics.

There’s a billion for national service programs. Black farmers will receive over $4 billion in what looks like a step toward reparations.

There’s a huge expansion of health insurance subsidies. Many of these changes, like the child tax credit, may well become permanent.

As Michael Hendrix of the Manhattan Institute notes, America spent $4.8 trillion in today’s dollars fighting World War II. Over the past year, America has spent over $5.5 trillion fighting the pandemic.

the legislation is widely popular. Three-quarters of Americans support the law, including 60 percent of Republicans,

Somehow low-key Joe Biden gets yawns when he promotes progressive policies that would generate howls if promoted by a President Sanders or a President Warren.

This moment is like 1981, the dawn of the Reagan Revolution, except in reverse. It’s not just that government is heading in a new direction, it’s that the whole paradigm of the role of government in American life is shifting

Biden is not causing these tectonic plates to shift, but he is riding them

Reaganism was the right response to the stagflation of the 1970s, but Bidenism is a sensible response to a very different set of economic problems.

These realities have created a different emotional climate that the pandemic has magnified — a climate of insecurity and precarity. These realities have also produced an intellectual revolution.

It was assumed, even only a decade ago, that the Fed could not just print money with abandon. It was assumed that the government could not wrack up huge debt without spurring inflation and crippling debt payment costs. Both of these concerns have been thrown out the window by large numbers of thinkers

We are now experiencing monetary and fiscal policies that would have been unimaginable a decade ago. This is like the moment when the G.O.P. abandoned fiscal conservatism for the go-go excitement of supply-side economics

The role of government is being redefined. There is now an assumption that government should step in to reduce economic insecurity and inequality.

This is the Transfer State: government redistributing massive amounts of money by cutting checks to people, and having faith that they spend it in the right ways.

With the wind at their backs, Democrats are concluding that Biden’s decision to eschew bipartisanship to pass a relief package is better than Barack Obama’s attempts to attract it

Republicans have learned that in this new era it’s foolish to fight Democrats on redistribution policy, but they can win elections by fighting culture wars.

But income inequality, widespread child poverty and economic precarity are the problems of our time

It’s worth taking a risk to tackle all this.

At first Biden seemed like the third chapter of the Clinton/Obama center-left era. But this is something new.

Mr. Trump’s indication that he will not sign the legislation without changes, including more than tripling the size of the direct payments to individuals, from $600 to $2,000, could further delay both the distribution of any payments and the amount of time it takes for jobless workers to begin seeing their payments again. (The legislation, if signed, does ensure workers will receive back payments for the time missed.)

The House is set to convene on Thursday, Christmas Eve, in a so-called pro forma session, typically a brief meeting that requires one lawmaker be present and lasts for just a few minutes. In that session, House Democrats plan to bring up a stand-alone bill that would provide for $2,000 direct payments for American families.

“We need to send a clean bill with just $2,000 survival checks and a separate spending/covid relief bill,” Representative Ilhan Omar, Democrat of Minnesota and a frequent target of Mr. Trump’s ire, wrote Tuesday evening on Twitter, adding, “since Trump wants to sign a bill with survival checks, let’s send one to his desk right away.”

All legislation dies with a Congress, so without Mr. Trump’s signature in the next 10 days, the behemoth legislation would have to be reintroduced and voted on a second time, further delaying funding of the government and providing relief to struggling Americans and businesses.

Biden, over the course of his first month in office, has relentlessly pressed lawmakers to pass his cornerstone legislative proposal, which includes funding for schools, vaccine distribution and infrastructure, states and localities, direct payments and extensions of expiring unemployment insurance programs.

Among those signed onto the letter are bold faced names including David Solomon, chairman and chief executive officer at Goldman Sachs; Stephen Schwartzman, the chairman and CEO of Blackstone; Sundar Pichai, the CEO of Google; John Zimmer, the co-founder and president of Lyft; Brian Roberts, the chairman and CEO of Comcast and John Stankey the CEO of AT&T.Read More

Republican support, to this point at least, has remained non-existent, with even moderate GOP senators amenable to talks calling Biden's proposal too large in scale and scope given the trillions in emergency aid deployed over the first year of the pandemic.

Biden, however, has been steadfast that his mandate is to "go big," and in recent days has challenged opponents of his plan to outline specifically what they'd like to strip from the package.

"Now critics say the plan is too big," Biden said at the White House on Monday. "Let me ask the rhetorical question -- what would you have me cut? What would you have me leave out?"

"Strengthening the public health response to coronavirus is the first step toward economic restoration," the executives wrote. "The American Rescue Plan mobilizes a national vaccination program, delivers economic relief to struggling families, and supports communities that were most damaged by the pandemic."

Since we’re nowhere close to that point — in particular, testing is still far behind what’s needed — we’re months away from a safe end of the lockdown. This is causing severe hardship for workers, businesses, hospitals and — last but not least — state and local governments, which unlike the federal government must balance their budgets.

Yet at the moment further relief legislation is stalled. And let’s be clear: Republicans are responsible for the impasse.

But the special loan program for small businesses has already been exhausted. State and city governments are reporting drastic losses in revenue and soaring expenses. And the Postal Service is on the edge of bankruptcy.

So we need another large relief package, targeted at these gaps. Where would the money come from? Just borrow it. Right now, the economy is awash in excess savings with nowhere to go. The interest rate on inflation-protected federal bonds is minus 0.56 percent; in effect, investors are willing to pay our government to make use of their money

What policy can and should do is mitigate that hardship. And the last relief package did, in fact, do a lot of the right things. But it didn’t do enough of them.

It’s true that Senate Republicans are trying to push through an extra $250 billion in small-business lending — and Democrats are willing to go along. But the Democrats also insist that the package include substantial aid for hospitals and for state and local governments. And Mitch McConnell, the Senate majority leader, is refusing to include this aid.

Everyone, and I mean everyone, knows what is really happening: McConnell is trying to get more money for businesses while continuing to shortchange state and local governments. After all, “starve the beast” — forcing governments to cut services by depriving them of resources — has been Republican strategy for decades

At a basic level, then, anti-government ideologues are preventing us from responding adequately to the worst economic disaster since the Great Depression.

Their obstructionism will cause vast suffering, as crucial public services are curtailed. It will also compound the economic damage.

In the near future, we’ll see millions of unnecessary job losses as impoverished families cut back spending, as local governments lay off teachers and firefighters, as the post office, if it survives at all, becomes a shadow of its former self.

And many of these job losses will probably persist even after the pandemic subsides.

If there’s a silver lining to all this, it is that the people sabotaging our response to Covid-19 economics may also be sabotaging their own political future. Trump is, after all, counting on rapid economic recovery to erase public memories of his disastrous handling of the pandemic itself. Yet he and his allies in the Senate are making such a recovery much less likely.

But Democrats counter that the bill takes a holistic look at the entire American economy and how it was affected by the pandemic.

Senate Democrats agreed to lower the income cutoff at which payments phase out from $100,000 to $80,000 for individuals, and from $200,000 to $160,000 for couples filing jointly, following demands from moderate Democrats.

Progressive Democrats vigorously pursued including a minimum wage hike in this legislation, which would have gradually increased the federal minimum wage to $15 an hour by 2025.

Individuals earning up to $75,000 and couples earning up to $150,000 would receive the full direct payments of $1,400 per person. Individuals will also receive an additional $1,400 payment for each dependent claimed on their tax returns.

"The major pieces of the bill — payments to individuals, extended unemployment, money for states and localities, money for schools — all of those things were in the COVID package that passed last year that all the Republicans voted for. So they were OK then, but they're not OK now, and I frankly can't really figure out that argument."

Under the Senate version, federal unemployment insurance payments will remain at $300 per week — down from $400 per week

The bill includes $7.25 billion in new money for the small-business loan program known as PPP and would allow more nonprofits to apply, including those groups that engage in advocacy and some limited lobbying. It also allows larger nonprofits to be eligible.

There are over $128 billion in grants to state educational agencies, with 90% allocated to local educational agencies, plus $39 billion in grants to higher education institutions.

The bill includes $4.5 billion for the Low Income Home Energy Assistance Program, known as LIHEAP, to help families with home heating and cooling costs.

The bill provides $37 million to the Commodity Supplemental Food Program for low-income seniors.

The Centers for Disease Control and Prevention is set to receive $7.5 billion to track, administer and distribute COVID-19 vaccines. Another $46 billion would go toward diagnosing and tracing coronavirus infections, and $2 billion would go toward buying and distributing various testing supplies and personal protective equipment.

There is $25 billion for emergency rental assistance, including $5 billion for emergency housing vouchers for people experiencing homelessness, survivors of domestic violence and victims of human trafficking.

The provisions would cut the poverty rate among Black Americans by 38%, Hispanic Americans by 43% and White and Asian Americans by around 24%

In total, 16 million fewer people will be living in poverty in 2021

But there's one big catch. The benefits are all temporary -- a mix of one-time infusions and assistance that lasts no longer than a year.

"Getting this far is a huge win and a sign of progress in the conversation, as well as immediately putting money in people's pockets," said Elizabeth Lower-Basch, director of the income and work supports team at The Center for Law and Social Policy, a left-leaning group.

"I certainly don't think it's a done deal, but I think there's a lot more opportunity than there has been in the time that I've been working on these issues," she continued.

The enhanced portion of the credit will be available for single parents with annual incomes up to $75,000 and joint filers making up to $150,000 a year.

The key change is that the tax credit will become fully refundable so that more low-income parents could take advantage of it.

Families can receive a credit of $3,600 for each child under 6 and $3,000 for each one under age 18, up from the current credit of up to $2,000 per child under age 17.

It provides direct payments worth up to $1,400 per person to married couples earning less than $160,000 a year, heads of households making less than $120,000 and individuals with incomes below $80,000.

Those who have lost their jobs will continue to receive federal support through September 6. The relief package extends the $300 weekly boost to unemployment benefits and two key pandemic jobless benefits programs.

The bill also calls for making the first $10,200 of unemployment payments tax-free for households with annual incomes under $150,000.

Food stamp recipients will see a 15% increase in benefits continue through September, instead of having the enhancement expire at the end of June.

This amounts to about $25 more per person per month, or just under $100 per month for a family of four.

The package nearly triples the maximum credit childless workers can receive to $1,502, up from $543.

The minimum age to claim the childless credit will be reduced to 19, from 25, and the upper age limit will be eliminated.

This is the largest expansion to earned income tax credit since 2009.

Biden is expect to announce plans to secure an additional 100 million doses of Johnson & Johnson's coronavirus vaccine, according to a White House official.

Still, Biden will encounter significant challenges in the second half of his first 100 days as he looks to take steps toward marshalling through further legislation to boost the economic recovery, rebuild infrastructure, address climate change and repair the immigration system. Much of his legislative agenda faces an uncertain fate in the 50-50 Senate.

At the same time, Biden is facing pressure to hold his first press conference, after waiting notably longer to do so than his predecessors.

The president also made good on his promises to roll back a host of Trump-era orders and initiatives by rejoining the Paris climate accords and World Health Organization, halting construction of the border wall and ending the so-called travel ban on Muslim-majority nations.

The White House has also used its initial actions to convey the sense that Biden is getting right to work; his array of early executive actions far outpaced those of previous presidents.

But the administration has offered mixed messaging on the reopening of schools, at first setting a low bar by stating that one day of in-person learning would qualify as reopening.

Biden has sought to manage expectations on the pandemic and regularly underscores the need to wear masks and social distance, an approach public health experts say has been a welcome change from the previous administration.

Biden said in an NBC News interview after the election that he wanted to send an immigration proposal to Congress in his first 100 days. He accomplished that on his first day in office, but the bill was introduced by lawmakers weeks later and passage appears unlikely anytime soon, if at all.

Biden has done much of his work behind the scenes, engaging with elected officials and other stakeholders to confront multiple crises he has had to manage since taking office Jan. 20.

Biden’s relief proposal has made its way through Congress along partisan lines, and calls have increased among Democrats to do away with the filibuster in the Senate in order to avoid seeing the president’s agenda stonewalled by Republicans.

Democrats are cognizant of the limitations of their majority in Congress, but they note that there is still one more opportunity to use the budget reconciliation process to pass a major bill without GOP support

The ongoing surge of immigrant children at the southern border has also threatened to overwhelm the new administration

And while Biden has secured legislation to address the pandemic, the public health crisis will remain atop his priorities.

The administration projects the U.S. will have enough vaccines for all adults by the end of May, but officials need to overcome hurdles to distributing vaccines and addressing concerns of those who are hesitant to receive them while ensuring Americans continue to follow public health guidelines as the country inches toward herd immunity.