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Illustration: Aida Amer/Axios

Facebook said on Thursday that the company has made an initial commitment of $130 million to fund a trust for its global content oversight board. The board was proposed in 2018 as an independent authority to help users appeal Facebook's content moderation decisions.

Yes, but: The company disclosed that it was behind on announcing its board members, of which it could appoint up to 40. Facebook was planning to announce them by year's end, but said, "we've decided to take additional time to consider the many candidates who continue to be put forward."

Details: In a blog post, Facebook estimated that the money should allow the board to operate for at least two full terms, or six years in total. It says the money will go toward office space, staff and travel expenses.

  • Facebook explained that it expects the board's staff to include "a director, case managers and dedicated staff members (or contracted services) who can support things such as the board’s communications, legal, human resources and research needs."
  • It also said the trust will have at least three individual trustees and a corporate trustee. The tech giant added it's currently conducting a search for the individual trustees, which will be announced next year.
  • The board will be required to submit an annual budget to the trust for approval and to receive funds.

The bottom line: Facebook is funding a trust that will have funding discretion over the board to ensure the board remains independent.

Go deeper:

Editor's note: This story has been corrected to note that the content oversight board was proposed in 2018 (not established).

Go deeper

2 hours ago - Politics & Policy

Democrats propose raising debt ceiling through midterms

Speaker of the House Nancy Pelosi and Senate Majority Leader Chuck Schumer. Photo: Stefani Reynolds/Bloomberg via Getty Images

House and Senate leadership announced on Monday that they plan to attach a proposal to raise the debt ceiling through Dec. 2022 to a short-term, government funding bill. The bill must pass before the end of the month or Congress risks a shutdown.

Why it matters: Democrats are taking a huge risk by trying to force through an increase of the debt limit in its must-pass funding bill. The move is wishful thinking on behalf of Democrats who are hoping they can get at least 10 centrist Republicans to balk, as well as an effort to put Republicans on record opposing it.

Biden to stress U.S. does not seek new Cold War in UN speech

Photo: Al Drago/Getty Images

President Biden will use his first address before the UN General Assembly to lay out his vision for an era of "intensive diplomacy" with allies and "vigorous competition" with great powers — without a Cold War with China.

Why it matters: Biden will take the podium in New York on Tuesday with his own international credibility in question after the chaotic withdrawal from Afghanistan. His administration also is struggling to build international momentum to fight climate change, the pandemic and rising global authoritarianism.

7 hours ago - Health

Biden administration to lift travel ban for fully vaccinated international travelers

Photo: Win McNamee/Getty Images

White House COVID-19 response coordinator Jeff Zients announced on Monday that the Biden administration will allow fully vaccinated travelers from around the world to enter the U.S. beginning in November.

Why it matters: The announcement comes as President Biden seeks commitments from countries to donate vaccines to the global COVAX initiative. He is expected to host a COVID summit on the sidelines of the UN General Assembly this week, and many of the countries attending have expressed frustration with the travel ban.