It’s Tuesday, the traditional day for elections and for our pause-and-consider newsletter on politics and policy. 

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WHAT WE KNOW ABOUT THE CORONAVIRUS RESCUE DEAL
By Lisa Desjardins, @LisaDNews ([link removed])
Correspondent

I write to you from a cavernous room in the U.S. Senate complex, full of marble and the smell of bleach.

Several hundred feet away, senators and staffers are trying to put together the final elements of what looks to be a $2 trillion megadeal to try to rescue both the American economy and many lives in the nation, as hospitals struggle with and fear an expected surge in coronavirus cases.

Senators have not yet reached a final agreement on what will be an unprecedented rescue package, but they have resolved many of the key issues. Here is what we know, per sources in both parties.

* For the unemployed. The tentative deal would boost unemployment benefits by up to $600 per week for four months. This would mean that among those Americans who are laid off, many of them would get full pay while they are unemployed during that time. A source familiar with this portion of the deal said the cost estimate for this is around $240-250 billion.
* Keeping small businesses open. Lawmakers hope to avoid mass unemployment by helping float the payroll of many businesses, especially small businesses. This deal would provide $350 billion in small business loans that would be forgiven later, essentially becoming grants, if the businesses use the money for payroll and to stay afloat.
* Larger companies. The framework currently provides $500 billion in loans for larger companies, with more than 500 workers. These would have to be paid back, according to the current deal. There is a possible exception for airlines. See below.
* Cash money to Americans now. The deal seems to be circling around a $1,500 direct one-time payment for most Americans. It has been $1,200 in some iterations, so watch this closely.
* Hospitals. Senators are looking at providing $120-130 billion in direct aid to hospitals, a kind of “Marshall Plan” to stand up facilities to deal with the outbreak.
* States, counties, cities. And they are looking at some $150 billion in aid to states.
* Student loans. The package would freeze federal student loan payments for a few months.
* Pensions. There is talk of adding several billion dollars to bolster pensions.


Why hasn’t this moved forward yet? What is the hold up? Among the issues still to be resolved: money for the ailing airline industry. Most of the help for large companies is in the form of loans, to be repaid in better times. But a Republican leadership source tells me that Democrats would like some of the airline funding to be floated without any requirement that it be repaid. The two sides are trying to agree on how to approach this, with Republicans preferring a loans-only approach.

And there is more. The bill is expected to contain a vast array of proposals, large and small, targeting specific needs and industries in this crisis. We may not know the full extent of what’s on the table until text is finalized and published.

When will we see that text? I have the same question. Negotiators had hoped to complete it earlier today, but a final deal remains elusive for the time being. Stay tuned.

I’ll keep sharing what I learn on my Twitter feed — follow along if you’d like @LisaDNews. You can find up-to-the-minute news there or on our main account @NewsHour.

FIVE OVERLOOKED POLITICAL STORIES FROM THE PAST WEEK
By Alex D’Elia, @AlexDEliaNews ([link removed])
Politics production assistant

The new coronavirus economy: A gigantic experiment reshaping how we work and live ([link removed]) -- March 21. The novel coronavirus has forced people around the world to alter the way they work and interact -- largely digitally and remotely. Why it matters: If these shifts hold for long, they could drastically exacerbate job loss in already-shifting industries, like local retail and dining, while spurring further growth for services like online retailers, grocery delivery and streaming video. -- The Washington Post

Ohio’s attorney general told providers to stop abortions during the coronavirus pandemic ([link removed]) -- March 22. The order was issued in accordance with federal guidance to postpone elective surgeries in an effort to divert resources toward patients with coronavirus. Why it matters: Though abortions can be scheduled in advance, critics of the order -- also implemented in Texas ([link removed]) -- argue that abortion procedures are essential, and also time-sensitive, and the move is one to restrict abortion rights. -- Vox

DNC insists its convention is on — but many Democrats aren't buying it ([link removed]) -- March 23. The committee’s communications director said Monday that there are no plans to cancel the convention and they are not considering rule changes. Why it matters: If the convention were to go ahead as planned, tens of thousands of people from around the country could be expected to attend in the sort of mass gathering health officials around the world are advising against because it would almost certainly hasten the spread of the novel coronavirus. If the convention does not go ahead as planned, the DNC and state committees would have to structure a new way to select the party’s presidential nominee in just months. -- POLITICO

The Fed’s message: The money-printing presses are fired up and ready to go ([link removed]) -- March 23. The Federal Reserve is tackling two crises in play: the breakdown of the financial markets; and the threat of tanking businesses, bankruptcy, and unemployment posed by the coronavirus. Why it matters: The Fed is the only organization with the power to create dollars out of nothing, and there is a developing shortage of dollars across the economy as investors sell assets to hoard cash, which has in turn caused credit to dry up. An infusion of freshly printed money could lessen the severity and length of the current economic downturn spurred by the pandemic. -- The New York Times

Dumped amid coronavirus, former Bloomberg campaign aides sue for pay and benefits ([link removed]) -- March 23. Former campaign staffers say that Bloomberg’s campaign broke its promise to continue pay and benefits through November, regardless of whether Bloomberg remained in the race. Why it matters: The former employees say they resigned from good jobs and are now facing unemployment and the loss of health insurance, at a time when the spread of coronavirus is an increasing threat to public health and putting many Americans out of work. -- Reuters

#POLITICSTRIVIA
By Kate Grumke, @KGrumke ([link removed])
Politics producer

On this day in 1934, President Franklin Delano Roosevelt signed an act that paved the way for a U.S. colony to become an independent country.

Our question: What country was that?

Send your answers to [email protected] (mailto:[email protected]) or tweet using #PoliticsTrivia. The first correct answers will earn a shout-out next week.

Last week, we asked: Which first lady is credited with planting the first two cherry trees in 1912 in Washington, D.C.? The answer is Helen Taft!

Congratulations to our winners: Larry Hall and John Turano!!

Thank you all for reading and watching. We’ll drop into your Inbox next week.

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