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On The Money: Biden says compromise inevitable on infrastructure plan | Chance for bipartisan breakthrough? | Democrats mull tax hikes

THE BIG DEAL Biden says compromise inevitable on infrastructure plan: President Biden “Compromise is inevitable, changes are certain,” Biden said in remarks from the White House. “We’ll be open to good ideas and good faith negotiations. But here’s what we won’t be open to. We will not be open to doing nothing. Inaction simply is not an option.” Biden’s next steps: The White House says that Biden plans to meet with Republicans and Democrats after they return to Washington next week on how to move forward. Biden specifically said Tuesday he is open to negotiation on how to pay for the package, after Republicans and Sen. Joe Manchin

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On The Money: Biden says 100 million relief payments will go out in next 10 days | White House hires Gene Sperling to be relief chief | Yellen eyes global minimum tax on multinationals

The breakdown: The White House says it expects 158.5 million households to receive relief checks from the $1.9 trillion rescue package signed into law Thursday. The Treasury Department began sending out direct payments over the weekend, though some banks won’t process them until later in the week. “It’s one thing to pass a historic piece of legislation like the American rescue plan and it’s quite another to implement it. The devil is in the details. It requires fastidious oversight to make sure the relief arrives quickly, equitably and efficiently with no waste or fraud,” Biden said Monday. The Relief Chief: To that end, the White House is bringing on Gene Sperling, a former top economic adviser to former presidents Clinton and Obama, to oversee implementation of the legislation.

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The Hill s 12:30 Report — Presented by Facebook — Dems face headaches in passing Biden agenda

The risk: “Biden proposed a slew of tax increases during his presidential campaign that are expected to be on the table as part of the discussions. But they will face fierce opposition from Republicans and business groups, jeopardizing any attempt to pass an economic package on a bipartisan basis.” THE INFRASTRUCTURE DEBATE WON’T BE A WALK IN THE PARK: Via The Hill’s Jordain Carney, “Democrats are facing big headaches as they try to craft a sweeping infrastructure and jobs package.” https://bit.ly/2Q9kOJg Not to give Democrats headaches or anything, but: “The goal could test Democratic unity due to razor-thin margins in both chambers and early signs of contention over how to pay for the spending, including talk of a tax hike, and whether the bill should be narrowed in order to make it bipartisan.”

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On The Money: Biden signs COVID-19 relief bill, will address nation tonight | First stimulus checks could hit bank accounts this weekend

On The Money: Biden signs COVID-19 relief bill, will address nation tonight | First stimulus checks could hit bank accounts this weekend
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On The Money: House passes COVID-19 relief bill in partisan vote | Biden to sign Friday

On The Money: House passes COVID-19 relief bill in partisan vote | Biden to sign Friday | Senate confirms Fudge to lead HUD Sylvan Lane © Greg Nash Speaker Nancy Pelosi (D-Calif.) and Majority Leader Charles Schumer (D-N.Y.) enroll the American Rescue Plan Happy Wednesday and welcome back to On The Money, where we want to hear how you plan on spending your stimulus check. I m Sylvan Lane, and here s your nightly guide to everything affecting your bills, bank account and bottom line. See something I missed? Let me know at slane@thehill.com or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

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