Ambition and reality

Your guide to how Washington shapes business and the economy

VIEW IN BROWSER | SUBSCRIBE FRI, FEB 19, 2021 CNBC POLITICS EDITOR'S NOTE Hello,   Since he was elected, President Biden has stressed that he wanted to take big, bold action on a number of pressing issues, from contending with the Covid crisis and repairing the nation's infrastructure to fixing immigration and improving health care.   His $1.9 trillion Covid relief measure is making its way through Congress. The House hopes to vote on it next week, according to House Speaker Nancy Pelosi. The administration and Democrats in Congress expect the law to be a done deal by mid-March.   Biden has also started talks about infrastructure, his next priority, in a bid to deliver another boost to the economy following the Covid bill. Democrats appear divided, however, about how big the bill should be. And there has been debate about how the bill could be paid for. Treasury Secretary Janet Yellen told CNBC on Thursday that tax increases, slowly phased in, are on the table.   Immigration looks even trickier, as it has for several previous administrations. Democrats unveiled a sprawling bill Thursday that would, among other provisions, create an eight-year path to citizenship for undocumented immigrants who arrived in the U.S. before Jan. 1 of this year. It's unlikely to get much Republican support, which it will need to reach 60 votes to break the filibuster in the Senate, without some heavy compromises.   That leaves Obamacare, which hasn't gotten much attention in the early going of the Biden administration. The president and other mainstream Democrats are onboard with expanding the health care law, which has increased in popularity over the past decade, particularly with a public option insurance plan. Even though two moderate Democrats unveiled a public option proposal this week, it looks like boosting Obamacare is lower on the list of priorities, which is surprising.    You would think that broadening the popular health care law would take precedence during a once-in-a-century public health crisis. And yet it's unclear whether Biden and Congress will take it up any time soon. With a midterm election campaign looming next year, that could turn out to be a risky choice.   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 aims to vote on Covid relief bill by the end of next week, Pelosi says Democrats are trying to pass their $1.9 trillion coronavirus relief bill before March 14, when key unemployment programs expire. Biden tax hikes would likely phase in slowly, Treasury Secretary Yellen says Treasury Secretary Janet Yellen said Thursday that any tax increases sought by the Biden administration would be introduced gradually. 'We're not here to steal jobs' — immigration agency's delays jeopardize international students' legal status The delays constitute another challenge to the country's ability to recruit and retain highly educated, highly skilled students and workers from abroad. Biden team takes a major step in offering to start talks with Iran as Tehran's sanctions deadline approaches Iran set a deadline of Feb. 21, vowing that if oil and banking sanctions are not lifted, it will expel the U.N.'s nuclear inspectors from the country. Sen. Ted Cruz flies back to Texas earlier than planned amid backlash over Cancun trip Sen. Ted Cruz came back to Texas earlier than planned amid backlash over taking a trip to Cancun during the power outage. Shepard Smith reports. Texas grid failure ignites feud over Republican oversight of the energy industry The Texas grid failure that's left millions without power has fueled outrage over Republicans' decades-long oversight of the state's energy industry. Biden to order review of U.S. reliance on overseas supply chains for semiconductors, rare earths President Biden will order a review of key U.S. supply chains including semiconductors, high-capacity batteries and rare earth metals. NATO hasn't reached decision on whether to leave Afghanistan as deadline looms NATO Secretary-General Jens Stoltenberg has not yet decided if the 10,000 troops it has in Afghanistan will leave the country by May. Bob Dole, former senator and Republican presidential candidate, diagnosed with stage four lung cancer The 97-year-old former U.S. senator and presidential candidate announced that he was diagnosed with stage four lung cancer. Dolly Parton tells Tennessee lawmakers to stop trying to build a statue of her Parton said that "given all that is going on in the world, I don't think putting me on a pedestal is appropriate at this time."     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