Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Saul Loeb/AFP via Getty Images

Expanded unemployment benefits are set to lapse for millions of struggling Americans after President Trump resisted calls to sign the stimulus bill before the end of Saturday.

Why it matters: "States cannot pay out benefits for weeks that begin before the bill is signed, meaning that if the president does not sign the bill [Saturday], benefits will not restart until the first week of January. But they will still end in mid-March, effectively trimming the extension to 10 weeks from 11," the New York Times reports.

  • Such inaction could trigger a federal government shutdown "when money runs out at 12:01 a.m. Tuesday in the middle of a pandemic," AP notes.

Context: Trump blindsided lawmakers on Tuesday when he indicated that he would not sign the $900 billion coronavirus relief bill and $1.4 trillion government funding measure passed by Congress if it's not amended to increase stimulus payments.

By the numbers: As of Nov. 28, there were 14 million people receiving unemployment benefits through the Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) programs, an increase of 958,000 from the previous week, Axios' Dion Rabouin reports.

  • 1.4 million Americans filed unemployment claims for the first time earlier this month, with 935,000 filing for traditional unemployment benefits and 455,000 filing claims for the PUA program.

What they're saying: "It is the day after Christmas, and millions of families don’t know if they’ll be able to make ends meet because of President Donald Trump’s refusal to sign an economic relief bill approved by Congress with an overwhelming and bipartisan majority," President-elect Biden said in a statement on Saturday.

  • "This abdication of responsibility has devastating consequences. Today, about 10 million Americans will lose unemployment insurance benefits. In just a few days, government funding will expire, putting vital services and paychecks for military personnel at risk."
  • Trump urged lawmakers Saturday night in a Twitter post ahead of the midnight deadline to meet his calls to increase stimulus payments from the agreed $600 that his Treasury Secretary Steven Mnuchin helped negotiate to $2,000.
  • "Remember, it was China’s fault!" he added, in reference to the virus that has killed and infected more people in the U.S. than any other country.

Go deeper ... Pelosi on Trump's call to increase stimulus payments: "Let's do it!"

Editor's note: This article has been updated with details of the deadline passing, Trump's comments and further context.

Go deeper

Jan 21, 2021 - Health

Biden set to immediately ramp up federal pandemic response

President Biden signs executive hours just hours after being inaugurated. Photo: Chip Somodevilla/Getty Images

On his first full day on the job, President Biden will move quickly to translate his promise of a stronger federal response to the pandemic into policy — starting with 10 executive orders and other directives.

Why it matters: The hands-on federal effort marks a significant change from the Trump administration, which put states in charge of many of the logistical details of their pandemic responses.

Federal Reserve scales back expectations for economic recovery as Delta variant weighs

Fed chair Jerome Powell during a congressional hearing last year. (Photo: Stefani Reynolds/Bloomberg via Getty Images)

The Fed downgraded near-term expectations for the economy and the labor market, alongside hotter-than-expected inflation, in new estimates out on Wednesday.

Why it matters: It's the first time those closely-watched estimates reflect impact from the delta variant that's already rattled the labor market.

Bipartisan police reform negotiations end without deal

Rep. Karen Bass (D-Calif.) with Sens. Tim Scott (R-S.C.) and Cory Booker (D-N.J.) in the Capitol in May 2021. Photo: Drew Angerer/Getty Images

Bipartisan talks on reforming police tactics and accountability, prompted by George Floyd's murder in May 2020, have ended without a compromise, Sen. Cory Booker (D-N.J.), a key negotiator, said Wednesday.

Why it matters: Lawmakers, led by Rep. Karen Bass (D-Calif.) and Sens. Tim Scott (R-S.C.) and Booker, had been working toward a bipartisan deal for months but they fell apart due to disagreements on qualified immunity and other issues.