Details Of House’s Swiftly Moving Package: Unemployment Insurance, Food Aid, Free Coronavirus Testing

The New York Times: Democrats And White House Race To Strike Deal For Coronavirus Relief Package
The White House and Democrats rushed on Wednesday to reach agreement on emergency legislation to provide a first tranche of economic assistance to help Americans cope with the fast-moving coronavirus pandemic, with the hope of sending it to President Trump for his signature by the end of the week. As the White House and Democrats were divided over what a broader economic stimulus package should look like, the two parties were trying to coalesce around the idea of a narrower short-term bill, while deferring discussion over other economic measures until after Congress returns from a weeklong recess. The bill would focus on paid leave, enhanced unemployment insurance, food assistance and help for small businesses. (Stolberg, Tankersley and Rappeport, 3/11)

Reuters: U.S. House Leaders Unveil Coronavirus Bill; Capitol Tours Suspended
Other provisions in the 124-page "Families First Coronavirus Response Act" introduced late on Wednesday include unemployment insurance to furloughed workers and hundreds of millions of dollars in additional funding for children's, seniors' and other federal nutrition programs. An additional $500 million would be provided to help feed low-income pregnant women or mothers with young children who lose their jobs or are laid off because of the virus outbreak. Another $400 million would help local food banks meet increased demand. The legislation also would guarantee free coronavirus testing for anyone who requires it, including uninsured people. (Cowan and Cornwell, 3/12)

Politico: House Democrats Introduce Multi-Billion Dollar Coronavirus Package
Democrats spent the week drafting a package that would focus on hourly workers who would be especially hard-hit if forced to self-quarantine, as well as provisions to ensure workers won’t be penalized for taking sick days. Their plan is in contrast with Trump’s proposals, which have mainly focused on calling for tax cuts and aid to tourist-based industries including airlines, hotels and cruise companies. “I hope it’ll be very generous so we can really be accountable to those who are suffering with losing their jobs, who have no access to food, et cetera,” said Rep. Nita Lowey (D-N.Y.), chairwoman of the House Appropriations Committee and one of the authors of the package. "We put a proposal together as effectively as we could, as soon as we could, and I hope all the other parts of government will respond," Lowey said, when asked about GOP support. "I would hope the other side of the aisle understands what an emergency is." (Ferris, Caygle and Bresnahan, 3/11)

Los Angeles Times: Democrats Propose Economic Stimulus To Soften Coronavirus Blow
By passing the House bill, Democrats may also hope to insulate themselves from public criticism that Congress is moving too slowly to respond to the health crisis. Lawmakers are scheduled to leave town Thursday afternoon for a weeklong recess. The legislation is moving quickly and it is uncertain whether the Trump administration might support it. Senate Republicans huddled Wednesday and said they haven’t made any decisions on whether they will support the bill because they haven’t seen the specifics. (Haberkorn, 3/11)

The Washington Post: Coronavirus Rescue Proposal Addresses Unemployment Insurance, Paid Sick Leave And Food Assistance.
The House effort shows the urgency with which political leaders are moving to contain the economic turmoil caused by the coronavirus outbreak. Although the Senate may not have time to act before a congressional recess scheduled for next week, a number of Republican senators indicated openness Wednesday to at least some elements of the House plan and said it was important to act quickly. “The sick leave is certainly something we need to take a close look at, I think that’s a very practical, very significant help to folks,” said Sen. Josh Hawley (R-Mo.). “I think we shouldn’t rule anything out at this point and I think, you know, it’s a very fluid situation.” (Werner, DeBonis and Kim, 3/11)

ABC News: House Democrats Rush To Finalize Bill To Address Economic Pain Of Coronavirus Outbreak Ahead Of Recess 
"We don't want to panic, but on the other hand, nor do we want to give any impression that this is not a major, critical health challenge confronting us that we need to handle responsibly," House Majority Leader Steny Hoyer told reporters in his Capitol Hill office Wednesday morning. "Tomorrow we're going to be addressing -- and I'm sure in the future addressing -- the economic consequences to individuals and trying to assure that they don't fall through the cracks." (Parkinson, 3/11)

Politico: Pelosi Ignores Trump Taunts As She Steers Through Another Crisis
For any other leader, the rapid turnaround on the recovery plan would be a herculean feat at best. But for Pelosi, successfully negotiating a multi-billion-dollar economic package with a hostile and often antagonistic Trump administration was just another day in the speaker’s suite. It’s also a reminder that for all Trump’s omnipresence on Twitter and cable TV, Pelosi remains the dominant figure on Capitol Hill when it comes time to actually getting something accomplished. “She understands what has to be done, and will do so in a very limited time frame and scope while trying to be inclusive with a very diverse caucus that also has a lot of their own ideas on how to solve the problem,” said Rep. John Larson (D-Conn.). “While there can be some consternation going forward, at the end of the day, she has the trust of the caucus.” (Caygle and Bresnahan, 3/12)

The Wall Street Journal: Mnuchin Urges Congress To Pass Stimulus To Counter Coronavirus Impact
Treasury Secretary Steven Mnuchin urged lawmakers to quickly approve a stimulus measure to ease the economic pain inflicted by the novel coronavirus. He added the administration’s first priority is helping businesses and employees, including paid family leave for workers who are sick or under quarantine at home. (Davidson, 3/11)

The Wall Street Journal: House Democrats Release Coronavirus Response Proposal
Republicans were also considering policy steps Wednesday evening, leaving open the possibility that Capitol Hill could cobble together a bipartisan compromise to address the economic consequences of the pandemic in just a matter of days. House Republican leadership met Wednesday to discuss possible legislation, and House Minority Leader Kevin McCarthy (R., Calif.) was in contact with Mr. Mnuchin on Wednesday. Prospects of a bipartisan agreement have fallen to Mr. Mnuchin and Mrs. Pelosi. Senate Majority Leader Mitch McConnell (R., Ky.) said he would defer to the Trump administration and House Republicans indicated they would also fall in line behind the White House. (Andrews and Duehren, 3/11)

Meanwhile, a look at what President Donald Trump is considering in terms of economic responses —

Reuters: U.S. Eyes Direct Deposit To Workers, Tax Delays, Airline Aid In Fight Against Coronavirus
The White House aims to propose several phases of relief measures to Congress, including a delay of the April 15 tax filing deadline, reimbursements for lost wages to sick and quarantined workers, aid to small and mid-size businesses and support for airlines, hotels and other travel firms, Mnuchin said. The Democratic-led House of Representatives plans to vote on the first phase of aid on Thursday, a bill that includes expanding unemployment benefits for those who have lost work because of the virus-driven slowdown. (Lawder and Shalal, 3/11)

The New York Times: Trump’s Payroll Tax Cut Would Dwarf The 2008 Bank Bailout
The centerpiece of Mr. Trump’s stimulus proposal, which remains a work in progress, is a temporary tax cut that by itself would add nearly $1 trillion to the national debt: a suspension of all Social Security payroll taxes through the end of the year. Some economists have cheered the idea as the right move at a fraught moment when workers are quarantined, schools are closing and large gatherings are being canceled. But others — including those who have called for aggressive congressional action — say the plan would be an inefficient way of stoking consumer demand at a time of supply shortages and a growing number of quarantines. (Tankersley, 3/12)

The Wall Street Journal: Coronavirus Puts Trump’s Economic Policy-Making To The Test
As the coronavirus affects almost every aspect of business, a collection of Trump administration officials—at times at odds with one another—are seeking to coordinate government action to soften the anticipated blow to the economy. So far, that coordination has been more ad hoc than organized or torn from the classic crisis playbook, which has administration policy makers acting in concert with the Federal Reserve and seeking buy-in from congressional leaders from both parties before announcing a policy response. (Davidson, Restuccia and Timiraos, 3/11)