Washington Post:
Senate passes $140 billion to aid unemployed: “The Senate approved a $140 billion package of tax breaks and aid to the unemployed Wednesday, the most substantial effort by the chamber to boost the nation’s economy since it passed the stimulus bill last year.”
No rush to restructure Fannie and Freddie: “Sixteen months after they were seized to prevent collapse, companies remain wards of the state, running a tab that has now exceeded $125 billion.”
New York Times:
Leaders in House Block Earmarks to Corporations: “The ban, announced by House Democratic leaders, wipes out one of the most lucrative and controversial means of awarding no-bid contracts to private firms.”
U.S. Jobless Filings Fall, but Not as Much as Expected: “A new report on weekly filings for first-time jobless claims was the latest indication of a slow recovery in the labor market.”
Wall Street Journal:
Trade Gap Narrows: “The U.S. trade deficit unexpectedly narrowed to $37.29 billion in January as imports and exports both declined and oil import volumes hit their lowest in more than a decade.”
Illinois Governor Urges Tax Boost: “Gov. Pat Quinn says a 1% increase is needed to avoid major cuts to schools that would require laying off thousands of teachers within weeks.”
U.S. Monthly Budget Deficit Balloons: “The U.S. government ran its largest ever monthly budget deficit in February as the country’s fiscal year-to-date deficit ballooned more than 10% to a record of $651.60 billion.”
LA Times:
Senate approves $138-billion spending bill: “The legislation, which must be reconciled with the House version, would extend jobless benefits and tax measures created to boost the economy, and help states pay for Medicaid.”
Unemployment tops 20% in eight California counties: “For many California areas, unemployment rates moved persistently higher in January, indicating that the national economic recovery hasn’t yet translated into jobs for the Golden State.”
USA Today:
Kansas City closes 26 schools to meet $50 million budget shortfall: “The Kansas City school board has voted to close 26 schools because of budgetary pressures, The Kansas city Star reports.”
AP source: Obama pushing new U.S. export initiative: “President Barack Obama is pushing a new initiative to boost U.S. exports by enforcing trade deals and promoting American-made products overseas.”
Treasury gets $11.15M by selling Signature Bank warrants: “The Treasury Department has received $11.15 million from the sale of warrants it received from New York’s Signature Bank as part of the support it provided during the financial crisis.”
Politico:
Earmark ban ruffles feathers: “Dems and GOP-ers are speaking against the ban.”
Senators want answers on fighter: “Levin and McCain call hearing featuring top Pentagon officials on future of F-35.”
The Hill:
Small-business lobby repositions on estate tax, now ready to deal: “Democratic control of Congress has prompted the National Federation of Independent Business (NFIB) to change its tune on estate tax repeal and support a less ambitious approach.”
