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Photo: Ron Antonelli/Bloomberg via Getty Images

New York will offer one-time payments of up to $15,600 to undocumented immigrants who lost work due to COVID-19, the state legislature announced this week.

Why it matters: Part of the state's 2021-2022 budget, the $2.1 billion fund is the biggest of its kind in the U.S., signaling the state's progressive-driven agenda, the New York Times reports.

How it works: Undocumented workers will be able to receive the equivalent of $300 per week for the last year, up to $15,600. They must verify that they were New York residents, ineligible for federal unemployment benefits and lost income because of the pandemic.

  • Those who can prove at least their residency and identity with some work documentation are eligible for a smaller sum up to $3,200.

For comparison: California set up a similar fund last year but capped it at $75 million, offering immigrants a $500 one-time payment on a first-come, first-served basis.

The big picture: The fund was an issue of contentious debate among lawmakers.

  • Republicans accused Democrats of enacting a "radical agenda" rather than helping other struggling New Yorkers, per Spectrum News.
  • Some Democrats from swing districts privately said the program could be weaponized against them in future elections, according to the Times.
  • A group of progressive lawmakers camped out overnight in the Capitol after budget discussion broke down.

Go deeper

Sarah Palin tests positive for COVID, delaying defamation trial

Sarah Palin. Photo: Matthew Staver/Bloomberg via Getty Images

Former Alaska Gov. Sarah Palin (R) tested positive for COVID-19 on Monday, delaying the start of her defamation trial against the New York Times.

Why it matters: The trial will be closely watched, as it's a rare instance of a major media company defending its editorial practices before an American jury.

S&P 500 slides into correction territory

Data: FactSet; Chart: Axios Visuals

Stocks suffered their worst drop of the year, pushing the S&P 500 on track to fall into a "correction."

Driving the news: The benchmark S&P 500 dropped for its fifth straight day, with losses nearing 3% in early trading.

Updated 2 hours ago - Politics & Policy

Omicron dashboard

Illustration: Aïda Amer/Axios

  1. Health: Fauci: "Confident" Omicron cases will peak in February — FDA OKs antiviral drug remdesivir for non-hospitalized patients — Walensky: CDC language "pivoting" on "fully vaccinated."
  2. Vaccines: The shifting definition of fully vaccinated — Annual vaccine preferable to boosters, says Pfizer CEO — Team USA 100% vaccinated ahead of Beijing Olympics.
  3. Politics: Virginia school boards sue Gov. Youngkin for lifting mask mandate — Gonzaga University revokes NBA great John Stockton's tickets over mask stance — Arizona governor sues Biden administration over funds tied to mandates.
  4. World: Beijing Olympic Committee lowers testing threshold ahead of Games — Beijing officials urge "emergency mode" before Winter Olympics — Austria approves vaccine mandate for adults.
  5. Variant tracker