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American Airlines planes parked at Los Angeles International Airport. Photo: Alex Tai/SOPA Images/LightRocket via Getty Images

Congress' massive $2 trillion coronavirus stimulus package includes $58 billion for U.S. airlines, half in grants to cover 750,000 employees' paychecks, and the rest in loans or loan guarantees to help them keep operating during the worst travel downturn in history.

Why it matters: With some 80 million U.S. residents under mandatory stay-at-home orders and the coronavirus pandemic continuing to spread, hardly anyone is flying these days. But when the public health crisis ends, airlines want to be able to take off again quickly.

The big picture: The Treasury Department can demand stock warrants in exchange for the loans, which means U.S. taxpayers could wind up owning a chunk of America's best-known airlines.

  • Air cargo carriers get a chunk of the money, too — $4 billion in grants and $4 billion in loans.
  • Airports get $10 billion in grants and contractors like catering, ground crew and ticketing get $3 billion.

One of the most controversial recipients is Boeing, which, although not named, is believed to get up to $17 billion for loans and loan guarantees for "businesses critical to maintaining national security."

  • Boeing CEO Dave Calhoun told Fox Business that his company would refuse government assistance if it came with equity strings attached.
  • The company could tap other funds in the package and be subject to the same limits on stock buybacks and executive pay as other large employers, without giving up a stake in the company.

In total, the stimulus package includes $114 billion for transportation.

Go deeper: United CEO: Coronavirus impact for airlines "much worse" than 9/11 aftermath

Go deeper

Updated 11 mins ago - World

U.S. sanctions Russian officials over Navalny poisoning and detention

Pro-Navalny protesters in front of the Brandenburg Gate in Berlin. Photo: Omer Messinger/Getty Images

The U.S. will sanction 7 senior Russian officials over the poisoning and jailing of opposition leader Alexey Navalny, senior administration officials told reporters on Tuesday.

Why it matters: The sanctions represent the first penalties the U.S. has imposed on Kremlin-linked officials since President Biden took office and pledged to confront Russian aggression.

Democrats to take up immigration reform next week

Biden in the Oval Office in January. Photo: Chip Somodevilla/Getty Images

The House will vote on two immigration bills next week, including one to protect undocumented immigrants who came to the U.S. as children, Majority Leader Steny Hoyer (D-Md.) said Tuesday on a call with the Democratic caucus.

Why it matters: This is likely the only realistic shot the Biden administration has at this point to pass immigration reform.

Scoop: Biden briefing calls for 20,000 child migrant beds

President Biden, during a virtual meeting with Mexican President Andrés Manuel López Obrador. Photo: Anna Moneymaker-Pool/Getty Images

A briefing scheduled for President Biden this afternoon outlines the need for 20,000 beds to shelter an expected crush of child migrants crossing the U.S.-Mexico border, Axios has learned.

Why it matters: The rapid influx of unaccompanied children is building into the administration's first new crisis. A presentation created by the Domestic Policy Council spells out the dimensions with nearly 40 slides full of charts and details.