$15 minimum wage: What's next?

Your guide to how Washington shapes business and the economy

VIEW IN BROWSER | SUBSCRIBE FRI, FEB 26, 2021 CNBC POLITICS EDITOR'S NOTE Hello,   President Biden's $1.9 trillion Covid relief and stimulus bill remains on track in Congress. The House is prepared to pass it as soon as today, and the Senate will take it up next.   But there was one major hiccup Thursday night: The Senate parliamentarian ruled that the bill could not include a $15 minimum wage hike.   Why is an unelected official making this decision? Because Democrats intend to pass the Covid relief package through a process called budget reconciliation, which only requires a simple majority for approval in the Senate. There's a catch, though: provisions of a bill must change budget-related items such as taxes and certain spending. The parliamentarian determined that raising the minimum wage in the legislation, as is, didn't meet the standards for inclusion.    The House still intends to pass its version of the bill with the minimum wage increase. The Senate, then, will have to strip out the provision and pass a version without it. Even before the parliamentarian's ruling, however, it wasn't clear whether the bill would pass with the minimum wage portion intact.   Moderate Democratic Sens. Joe Manchin and Kyrsten Sinema have expressed skepticism about raising the minimum wage to $15. Without either of their votes, Democrats would be short of the 50 votes they would need to pass the entire bill. (Vice President Harris would be the tiebreaking vote.)   Still, several key Democrats, including Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi, said they would continue pressing to raise the minimum wage. Progressive Sen. Bernie Sanders, the chairman of the chamber's powerful budget committee, was prepared to go even further.   A longtime proponent of increasing the minimum wage, Sanders on Thursday proposed adding an amendment to the Senate's version of the bill that could potentially earn an OK from the parliamentarian. It would aim "to take tax deductions away from large, profitable corporations that don't pay workers at least $15 an hour and to provide small businesses with the incentives they need to raise wages."   The Democrats face a tight deadline, March 14, before certain Covid relief programs run out and need to be replenished. We'll see in the meantime whether they have the will, or patience, to fight over the minimum wage.   Thoughts? Email Politics Editor Mike Calia at CNBCPolitics@nbcuni.com.   Have friends or colleagues who might like this newsletter? They can sign up here.    Subscribe to CNBC's daily new podcast The News with Shepard Smith, which provides deep, non-partisan coverage and perspective on the day's most important stories. Mike Calia @Michael_Calia KEY STORIES  House set to approve Biden's $1.9 trillion stimulus package, send bill to the Senate Democrats are trying to pass the $1.9 trillion relief bill, which includes direct payments and unemployment benefits, by March 14. $15 minimum wage not allowed in Biden's Covid relief bill, Senate official says Senate parliamentarian Elizabeth MacDonough's ruling on the minimum wage derails a Democratic priority in the $1.9 trillion relief bill. Trump tax returns are now in the hands of the Manhattan district attorney After the Supreme Court allowed the transfer to Manhattan DA Cy Vance, Trump accused the prosecutor of pursuing a "fishing expedition." Biden stresses human rights in call with Saudi king before report on Khashoggi killing released The U.S. is preparing to release an intelligence assessment that will reportedly implicate Saudi Crown Prince MBS in the murder of Jamal Khashoggi. U.S. partners in Asia may not wait around as Biden prioritizes domestic issues In recent years, Asia-Pacific countries have signed two mega trade agreements — the CPTPP and RCEP — that exclude the U.S. House passes Equality Act which would expand LGBTQ protections The House on Thursday passed legislation that would extend existing civil rights law to include sexual orientation and gender identity as protected characteristics. Biden isn't going to make Saudis a 'pariah' despite Khashoggi, says foreign policy expert Michael O'Hanlon explains why President Joe Biden will not make Saudi Arabia "a pariah" due to the economic and military relationship at stake. China seems to be living up to trade deal pledges, Biden's Agriculture secretary says Agriculture Secretary Tom Vilsack believes China is making good on promises it made as part of the phase one trade deal.     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS