NEW: White House looking at using leftover/unspent FEMA funds to pay unemployment benefits unilaterally, 2 ppl familiar say

No final decision made/things are in flux

Experts question how WH can legally pay UI benefits w/o Congress

@ericawerner @karoun…
Believed to be tens of billions in hurricane relief money that has not been spent. Unclear if $ for Puerto Rico would be in the mix. White House has asked federal agencies to come up with lists of $ that could potentially be moved around for the executive orders
Have been informed that this is a House of Cards plot line but unsure what to do with that information

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More from @JStein_WaPo

Jun 21
New: Last year’s stimulus gave millions of Americans their first taste of real financial stability — only to watch it gradually dissipate b/c of expiration of aid + skyrocketing inflation. On the nation’s deepening economic discontent, from Bucks County:…
Jazmin Johnson, 22, mother of 2, had savings last year for the first time ever - $10K, thanks to CTC + checks etc

Those are all gone, & shes being hammered by high costs. She’s down to ~$500 & just told her 3 year old they could no longer afford his favorite Hawaiian Fruit punch Image
A lot of economic commentators have correctly pointed out that Americans’ savings are higher rn than historically. And that’s true. But the *direction* many people are feeling is an immensely painful loss. Take Colleen Lester, who I met at a Pa food bank: Image
Read 5 tweets
May 7
NEWS: White House alarm mounts over Commerce probe aides say is "smothering" US solar just as Biden seeks to massively increase clean energy

WH, Commerce say their hands are tied by federal law

Granholm, Kerry relaying concerns internally

W/ @evanhalper…
In a private conversation on March 31, Energy Secretary Granholm approached Commerce Secretary Raimondo and relayed industry's concerns about the investigation

Raimondo said she can't influence the investigation

The solar industry disagrees, says the WH has legal latitude
*80%* of U.S. solar firms say the Commerce investigation has jeopardized at least half the projects they planned to complete in 2022

Comes as Biden's climate agenda -- w/ its major tax credits for renewable energy -- appears dead in Congress right now…
Read 4 tweets
Apr 30
Scoop: White House *looking* at $10K or more of per-borrower debt forgiveness for earners under $125-150K single/$250-300K couples prior year, per sources

Overwhelming majority would qualify

***No final decision on amount canceled or means test***…
As the story says, cant stress enough that by all accounts the WH genuinely has not made a decision yet and this is subject to change
.@AOC: No means-test, & cut more than $10K

“I dont believe in a cutoff, especially for so many of the front-line workers who are drowning in debt... Canceling $50K in debt is where you really make a dent in inequality & the racial wealth gap. $10K isn’t"…
Read 6 tweets
Mar 21
The expanded Child Tax Credit has been dead for almost 3 months now due to Manchin/GOP opposition and as far as I can tell there's no reason to believe that changes. ~4 million kids thrust back into poverty; child poverty rate up ~41% -- totally disappeared from DC discourse
Many Dems had argued during BBB that they should create a large number of programs for a short period of time, bc once enacted they'd be impossible NOT to extend.

CTC suddenly dying, w/ no momentum to revive it, seems to run strongly against that theory…
One irony is some Ds wanted to apply this logic to programs with far LESS reach than CTC. CTC reached tens of millions every month w/ a highly visible impact (direct check!), & its death did little to move the needle. But public housing $ dying wouldve caused a sufficient outcry?
Read 5 tweets
Mar 2
New — U.S. preparing to dramatically expand list of sanctioned Russian oligarchs; new targets likely overlaps w/ EU sanctions Monday. WH weighs sanctions on Usmanov, mega-billionaire & mining magnate. Biden vowed to seize yachts, jets & luxury apartments…
We’ve seen just the beginning of US attempts to undermine Putin by going after Kremlin oligarchs

Russian billionaires extraordinarily powerful, control ~30% of nation’s wealth

“It will shake the rogue Putin regime to its core.” — @apmassaro3…
Amid sluggish economic growth, a handful of Kremlin elites have made fantastic sums of money largely kept offshore. The U.S. is about to launch an international “hunt” to confiscate billions stored abroad aimed at hitting Putin’s closest allies ImageImage
Read 4 tweets
Feb 17
🚨🚨🚨Columbia research: "The monthly child poverty rate increased from 12.1 percent in December 2021 to 17 percent in January 2022"

Biden Child Tax Credit expired at end of last year

3.7 million kids reenter poverty…
Number of kids in poverty, December 2021: 8.9 million

Number of kids in poverty, January 2022: 12.6 million

As far as I can tell, there is basically zero momentum in Washington for extending the Biden child benefit…
Read 5 tweets

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