Biden wants Congress to take action on gun reform

During her weekly press conference, House Speaker Nancy Pelosi defended the decision to impeach then-President Donald Trump, insisting the trial set to begin on Tuesday is not a waste of time. She said she believes Republicans could be swayed to convict the former president once the evidence is presented.

She also responded to critics who say "why bother" with the Trump impeachment trial now that he's out of office.

"'Why bother?’ Ask our founders why bother. Ask those who wrote the Constitution. Ask Abraham Lincoln," Pelosi said. "Ask anyone who cares about our democracy why we are bothering. You cannot go forward until you have justice."

Pelosi pushed back when reporters noted that the House impeachment managers are walking into a Senate that is poised to acquit Trump.

"They don't know that. They don't know that. They haven't heard the case," Pelosi said. "We'll see if it will be a Senate of courage or cowardice."

On COVID-19 relief, Pelosi defended the price tag of the $1.9 trillion plan Biden is pushing for. She signaled she's not going to support the GOP slimmed down rescue package offer of $600 billion.

"Are we going to feed fewer children?" Pelosi said. "I just don't see how you have to make those choices on who you cut out when you decide to cut the funding."

Pelosi also said Congress can take up a bill raising the minimum wage to $15 in bills other than the COVID-19 relief bill if it doesn't pass muster with the Byrd rule during the reconciliation process. The Byrd Rule ensures other legislation not related to the budget doesn't make it into the final bill.

"It’s not the last bill we’ll pass. This is the rescue package," Pelosi said.

-ABC News' Mariam Khan

It's been two weeks since Biden's inauguration and the Senate has so far confirmed six of his Cabinet nominees.

Boston Mayor Marty Walsh, Biden's pick to lead the Department of Labor, is testifying Thursday morning before the Senate Health, Education, Labor and Pensions Committee.

Vermont Sen. Bernie Sanders, who Biden had said he was also considered for the role of labor secretary, asked Walsh where he stood on the minimum wage on a federal level.

“I definitely support raising the minimum wage. I know that President Biden has made that part of his economic plan as well," Walsh said, to which Sanders replied, "Good."

Asked about Biden's Cabinet confirmations at Wednesday's press briefing, White House press secretary Jen Psaki said there has "certainly" been a delay in the confirmation of his nominees, saying, "Some of them were slower-paced than they should have been, early on," and calling out Republicans for so far blocking a hearing for Attorney General-designate Merrick Garland.

Since Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell reached a power-sharing agreement Wednesday, Democrats will not get the gavel at all committees, likely speeding up the confirmation process for Biden's Cabinet picks.

At the 2021 National Prayer Breakfast, lawmakers from both sides of the aisle spoke of unity and oneness under God, and every living former president gave a video contribution to the virtual event -- except former President Donald Trump. 

In some ways, Trump's legacy was still present, as Biden focused his remarks on healing the divisions caused by the 45th president. 

"We know now we must confront and defeat political extremism, white supremacy and domestic terrorism. For so many in our nation, this is a dark dark time. So where do we turn? Faith," Biden said.

Biden said that while he's attended many prayer breakfasts over the years, "with a nation at war and struggle and strife, and a nation at peace and prosperity," this year was different than any other before, citing the coronavirus pandemic and civil unrest.

"This is not a nation that can or will simply stand by and watch this. It's not who we are. It's not who faith calls us to be. In this moment, we cannot be timid or tired. We have too much work to do. And it's by our work, not just our words, that we're going to be judged," he said. 

The devout Catholic ended with his conviction that faith will sustain Americans through the pandemic, citing Psalm 30:5: "weeping may endure for a night, but joy cometh in the morning."

At last year's event, which came right after the Senate voted to acquit his first impeachment charges, Trump held up newspaper headlines reading "Trump acquitted" and took swipes at Sen. Mitt Romney's Mormon faith, as well a House Speaker Nancy Pelosi's penchant for saying she prays for him.

-ABC News' Sarah Kolinovsky

In an exclusive interview on ABC's "Good Morning America," Treasury Secretary Janet Yellen said she would be meeting Thursday with representatives from the Securities and Exchange Commission, the Commodities Future Trading Corporation and the Federal Reserve to discuss the recent trading activity around GameStop and look into whether more regulatory action is needed.

"We really need to make sure that our financial markets are functioning properly, efficiently and that investors are protected and we're going to discuss these recent events and discuss whether or not that the recent events warrant further action," Yellen said. 

When pushed to confirm whether steps would be taken, Yellen said only that she and other financial leaders need to "understand deeply what happened" before making any moves.

In a nod to Yellen's appointment as the first female treasury secretary, when asked what she hopes to achieve and leave as her mark on the Treasury Department, Yellen spoke not about her own place in history, but about lifting up American families, especially those who are disadvantaged, and plugged Biden's COVID-19 relief plan.

"I want to make sure that this package gets into law and that we build back better and address long-term problems in the labor market and issues of structural racism, so I would feel if I can make a contribution to that, I would feel that that's a great legacy for me and for the country," Yellen said.

-ABC News' Sarah Kolinovsky