On The Money: Biden celebrates relief bill with Democratic leaders | Democrats debate fast-track for infrastructure package

Happy Friday and welcome back to On The Money , where we’re calling on Barack Obama Barack Hussein Obama On The Money: Biden celebrates r...


Happy Friday and welcome back to On The Money, where we’re calling on Barack ObamaBarack Hussein ObamaOn The Money: Biden celebrates relief bill with Democratic leaders | Democrats debate fast-track for infrastructure package Obama discusses racism, world leaders — and which states have the best food The Hill’s Morning Report – Presented by the National Shooting Sports Foundation – Biden: Back to ‘normal’ still means ‘beat the virus’ MORE to expose the worst food states in the union. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.

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THE BIG DEAL—Biden celebrates relief bill with Democratic leaders: President BidenJoe BidenPentagon takes heat for extending Guard’s time at Capitol Booker to try to make child tax credit expansion permanent Sullivan says tariffs will not take center stage in talks with China MORE on Friday celebrated his $1.9 trillion coronavirus relief bill as a measure that “puts working people in this nation first” but acknowledged that it would take “fastidious oversight” in order to ensure the bill is implemented as intended.

Biden gathered with Democratic congressional leaders in the Rose Garden Friday afternoon to declare that help is on the way for hurting Americans, a day after signing the massive relief bill into law. It marked his first major legislative achievement as president.

“It changes the paradigm. For the first time in a long time, this bill puts working people in this nation first,” Biden said. “For too long, it’s been the folks at the top.”

The Hill’s Morgan Chalfant takes us there.

‘We have to get this right’ The Rose Garden celebration capped off a remarkable legislative sprint for Biden and congressional Democrats, who stayed united behind the ambitious measure and sent it to the president’s desk in 50 days. Only one Democratic lawmaker opposed the measure on final passage, Rep. Jared Golden of Maine, when three defections in the House or one in the Senate could have killed it.

Even so, Biden acknowledged that implementing the bill would take a considerable amount of work.

“It’s one thing to pass the American Rescue Plan. It’s going to be another thing to implement it. It’s going to require fastidious oversight to make sure there is no waste or fraud and the law does what it’s designed to do,” Biden said. “We have to get this right. Details matter. Because we have to continue to build confidence in the American people that their government can function for them and deliver.”

LEADING THE DAY

Democrats debate fast-track for infrastructure package: A sweeping infrastructure and climate change package? Lowering prescription drug prices? A long-awaited immigration overhaul? With a nearly $2 trillion COVID-19 relief package now signed into law, Democrats on Capitol Hill have begun wrestling with this question: Which policy issues should they fast-track next?

The arcane budget reconciliation process would allow Democrats — who control razor-thin majorities in the House and Senate — to sidestep a GOP filibuster in the Senate and push through another massive legislation package with zero Republican votes, just as they did this month with President Biden’s American Rescue Plan. 

At the moment, Democrats are all over the map about what should be in that next package.

But fresh off his first major legislative victory, Biden himself says his nascent administration will turn next to a trillion-dollar infrastructure and clean energy jobs package. The Hill’s Scott Wong tells us more about the debate here.

ON TAP NEXT WEEK

Monday:

Tuesday:

  • The Senate Health, Education, Labor and Pensions Committee holds a confirmation hearing on the nomination of Julie Su to serve as Deputy Secretary of Labor at 10 a.m.
  • The Senate Finance Committee holds a hearing on the impact of the U.S. tax code on domestic manufacturing at 10 a.m.
  • The American Bankers Association kicks off its 2021 Washington Summit at 1 p.m.
  • The Senate Banking Committee holds a hearing on the state of U.S. housing at 2 p.m.

Wednesday:

  • The House Financial Services Committee holds a second hearing on the GameStop stock frenzy at 10 a.m.
  • The Select Subcommittee on the Coronavirus Crisis will hold a hearing entitled “From Rescue to Recovery: Building a Thriving and Inclusive Post-Pandemic Economy” at 11 a.m.
  • Federal Reserve Chairman Jerome Powell speaks to reporters after the FOMC’s March interest rate announcement at 2:30 p.m.
  • The Senate Small Business Committee holds a hearing on the Paycheck Protection Program (PPP) at 2:30 p.m.

Thursday:

  • A House Financial Services subcommittee holds a hearing on diversity and inclusion data at 10 a.m. 
  • The Senate Banking Committee holds a hearing on the financial risks of climate change at 10 a.m.
  • The Senate Finance Committee holds a hearing on using trade laws to fight forced labor at 10 a.m.
  • IRS Commissioner Charles Rettig testifies before a House Ways and Means subcommittee at 2:30 p.m.

GOOD TO KNOW

ODDS AND ENDS



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