More than just stimulus checks

Your guide to how Washington shapes business and the economy

VIEW IN BROWSER | SUBSCRIBE TUE, MAR 09, 2021 CNBC POLITICS EDITOR'S NOTE Hello,   Everywhere you look, you see "stimulus checks" in headlines. Of course, they're referring to the $1.9 trillion Covid relief package the House is set to approve before President Biden signs it this week.   But that big pricetag covers much, much more than stimulus checks. Critics have called the bill a liberal "wish list" that will overheat an already-resurgent economy, leading to inflation. The legislation's defenders, however, say that it will lift millions out of poverty and give an extra jolt to an economy that's recovering in some ways but leaving many behind. And that's even without the federally mandated $15 minimum wage that was in an earlier version of the bill.   Here's a look at some other key economic provisions in the measure: It continues paying $300 in additional weekly unemployment benefits through Sept. 6. It also makes the first $10,200 in jobless benefits last year non-taxable for households that earned under $150,000. For one year, it boosts the child-tax credit from $2,000 to $3,600 for each child under 6 and to $3,000 for kids aged 6 to 17, up to certain income levels. The credit would be paid out periodically, instead of as the usual lump sum, essentially acting as a form of guaranteed income.  Billions to help low-income families pay for heating and cooling costs, as well as additional food voucher money for women and children in the program known as WIC.  More than $10 billion for agriculture, with half of that total going to disadvantaged farmers, many of whom are Black. About $25 billion in rental assistance. It also sets aside $350 billion for state, local and tribal governments that lost revenues and cut jobs during the pandemic recession. Be sure to follow along at CNBC.com for the latest news on the Covid relief plan and what's next out of Washington.   Thoughts? Email Politics Editor Mike Calia at CNBCPolitics@nbcuni.com.   Have friends or colleagues who might like this newsletter? They can sign up here.    Subscribe to CNBC's daily new podcast The News with Shepard Smith, which provides deep, non-partisan coverage and perspective on the day's most important stories. Mike Calia @Michael_Calia KEY STORIES  House prepares to pass $1.9 trillion Covid relief bill, and Biden is expected to sign it this week President Biden is expected to sign the $1.9 trillion Covid relief bill this week, and stimulus checks are set to go out starting this month. Lawyers picked for Cuomo sexual harassment probe New York Gov. Andrew Cuomo has said he will not resign in the face of claims he sexually harassed several women. Pentagon uncertain of U.S. troop withdrawal in Afghanistan as deadline looms The Pentagon said Monday that it has not decided on whether to withdraw U.S. troops in Afghanistan. Republican Sen. Roy Blunt of Missouri won't seek reelection in 2022 "I won't be a candidate for reelection to the United States Senate next year," GOP Sen. Blunt said in a video posted onTwitter. Covid relief bill gives $86 billion bailout to failing union pension plans The $1.9 trillion American Rescue Plan would let multi-employer pension plans apply for grants to pay retirement benefits. Almost 10% face shortfalls. Tattoo artist linked to Trump friend Roger Stone arrested on Capitol riot charges A New York resident linked to longtime Trump friend Roger Stone has been arrested on criminal charges related to the Jan. 6 Capitol riot. 23 House Dems ask Facebook about role of weapons ads in wake of Jan. 6 insurrection The lawmakers also called on Facebook to provide greater transparency to its advertisers on the context in which their promotions would appear to users. Biden wants the Yemen war to end. One expert says his actions may be making it worse President Joe Biden ended support for offensive operations in Yemen in a bid to end the war there, but one political analyst says that might make things worse.     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS