Child tax credit tussle reflects debate over work incentives
President Joe Biden and leading Democratic lawmakers, including Colorado Sen. Michael Bennet and Connecticut Rep. Rosa DeLauro, have been fighting to make permanent a child tax credit that would give families at least $300 a month per child.
Evictions are about to restart as tenants wait on billions in unspent rental aid
Overall just 36 out of more than 400 states, counties and cities reporting data to the Treasury Department were able to spend half of the money allotted them by the end of June. Another 49 hadn’t spent any funds at all.washingtonpost.com
Path from Clinton to Biden takes U-turn on debt, trade, more
Biden is taking the opposite approach of the Clinton administration to help the economy. White House aides are comparing the scope of Biden's policy ambitions to Franklin Delano Roosevelt's after the Great Depression. Biden was probably the best about this.”AdCelinda Lake conducted polling for both the Clinton and Biden campaigns. The Biden administration is now challenging China, which never embraced the values of democracy as trade advocates once believed it would. But he sees the Biden administration as pursuing new policies to help workers.
Harris back on the road after opening weeks in Washington
Vice President Kamala Harris gives her order to Germaine Turnbow, while stopping for lunch at Tacotarian, Monday March 15, 2021, in Las Vegas. President Joe Biden, Vice President Kamala Harris and their spouses are opening an ambitious, cross-country tour to highlight the $1.9 trillion coronavirus relief plan and its benefits. After weeks of swearing in Cabinet members, appearing alongside President Joe Biden and making stops in the Washington area, the vice president was on the road on her first big outing since taking office. As the first woman, Black person and Indian American to be elected vice president, Harris has plenty of eyes on her in her new position. ___Associated Press writer Michelle Price in Las Vegas and Kathleen Ronayne in Sacramento, Calif., contributed to this report.
In Pennsylvania, Biden showcases aid to small businesses
Salazar, a small business owner for 30 years, told Harris that help from the Small Business Administration has "kept me afloat but more is needed.”In Pennsylvania, meanwhile, Smith Flooring had 23 employees during peak times but currently is employing 12 workers. In Washington, the Senate confirmed Isabel Guzman, Biden’s pick to lead the Small Business Administration on Tuesday. It’s a sharp turn from the start of the Biden administration, when vaccination goals were relatively modest and Americans were warned the country might not return to normal until Christmas. AdThe Biden administration estimates that 400,000 small businesses have closed because of the pandemic and millions more are barely surviving. It recently qualified for a federal Paycheck Protection Program loan during a two-week window in which the Biden administration focused the program exclusively on helping businesses with 20 or fewer employees.
Biden taps Gene Sperling to oversee implementation of $1.9 trillion American Rescue Plan
Washington — President Biden has tapped Gene Sperling, a longtime economic adviser under Democratic administrations, to oversee implementation of his $1.9 trillion coronavirus relief plan, the White House announced Monday. The president said Sperling is charged with ensuring the benefits in the package "go out quickly and directly to the American people, where they belong." Sperling will be working remotely until he receives his coronavirus vaccine, press secretary Jen Psaki told reporters during the White House press briefing. "The president felt it was important to have a point-person who could of course pull all of these levers," Psaki said during the White House press briefing. The president is also slated to deliver remarks on implementation of the measure at the White House on Monday afternoon.cbsnews.com
Former NEC director Gene Sperling tapped to implement Biden Covid relief plan
Former National Economic Council director Gene Sperling will oversee the implementation of President Joe Biden's $1.9 trillion coronavirus relief plan, the White House announced Monday. Sperling, who led the National Economic Council under Presidents Barack Obama and Bill Clinton, will play a role similar to Biden's when the latter was vice president during the 2009 financial crisis. Biden at the time was in charge of initiating the the Obama Recovery Act. Biden signed the coronavirus relief package on Thursday. As CNBC reported in February, Sperling was being floated to replace Neera Tanden as the administration's nominee to lead the Office of Management and Budget.cnbc.com
Biden taps Gene Sperling to oversee COVID-19 relief package
Sperling, a veteran of the Clinton and Obama administrations, will lead the oversight for distributing funds from President Joe Biden's $1.9 trillion coronavirus rescue package, a White House official said Monday. (AP Photo/Jacquelyn Martin)Gene Sperling, a veteran of the Clinton and Obama administrations, will lead the oversight for distributing funds from President Joe Biden's $1.9 trillion coronavirus rescue package. Sperling will take a role similar to the one Biden had as vice president in the aftermath of the 2008 financial crisis. He will work with the heads of the White House policy councils and federal agencies to get funds out quickly and optimize their effectiveness, just as Biden did with the Obama administration's stimulus package. AdSperling, 62, has twice served as director of the White House National Economic Council, making him one of the defining economic policymakers of the past several decades.
Budget nominee Tanden withdraws nomination amid opposition
Neera Tanden, President Joe Biden's nominee for Director of the Office of Management and Budget (OMB), appears beofre a Senate Committee on the Budget hearing on Capitol Hill in Washington, Wednesday, Feb. 10, 2021. (AP Photo/Andrew Harnik, Pool)WASHINGTON – President Joe Biden's pick to head the Office of Management and Budget, Neera Tanden, has withdrawn her nomination after she faced opposition from key Democratic and Republican senators for her controversial tweets. Thirteen of the 23 Cabinet nominees requiring Senate approval have been confirmed, most with strong bipartisan support. But without Manchin’s support, the White House was left scrambling to find a Republican to support her. White House chief of staff Ron Klain initially insisted the administration was “fighting our guts out” for her.
Yellen's encore: Lending economic heft to Biden's virus plan
“Yellen is uniquely poised," said Brian Deese, director of Biden’s National Economic Council. "She has as much experience and expertise of addressing the challenges of our time as any living economic policymaker today. AdYellen juggled parenting with her work as a professor at the University of California, Berkeley, in the 1980s, helping to build her son’s pinewood derby car as a colleague fed economic data into a computer. It’s an argument cultivated from years of research that fully blossomed during Yellen’s time as Fed chair. She said Yellen values differences of opinion and diversity because that helps her get a fuller sense of the economy.
Biden allies lobbying White House to find potential replacement for budget nominee Tanden as senators oppose her
Numerous Biden allies, including those in the business community, are lobbying the White House, these people added. Biden's allies are encouraging his advisors to prepare for the possibility that the Senate may not confirm Tanden, according to the people. The White House has continued to stand by Tanden, including at Monday's press briefing. White House press secretary Jen Psaki said at the briefing that the administration has been calling on lawmakers from both sides of the aisle to support Tanden's nomination. Representatives for the White House and the Center for American Progress, the think tank Tanden runs, did not respond to CNBC's requests for comment.cnbc.com
Biden warns of growing cost of delay on $1.9T econ aid plan
Biden signaled on Friday for the first time that he's willing to move ahead without Republicans. “I support passing COVID relief with support from Republicans if we can get it," he told reporters. "But the COVID relief has to pass. Some Biden allies have expressed frustration that the administration has not more clearly defined what the massive legislation would actually accomplish. He said, “The American Rescue Plan — it’s a plan geared toward the future, bridging the gap between January and September, when people will be able to spend more freely.”
Economist says Biden's COVID-19 relief bill is "right on the mark"
Economist says Biden's COVID-19 relief bill is "right on the mark" President-elect Joe Biden unveiled his "American Rescue" plan to stimulate the U.S. economy, which has been crippled by the COVID-19 pandemic. Gene Sperling, a former director for the National Economic Council, joins CBSN to discuss Mr. Biden's coronavirus relief package.cbsnews.com