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July 14, 2022: A warm welcome abroad, but headline headaches at home
July 14, 2022: A warm welcome abroad, but headline headaches at home
ratings:
Length:
6 minutes
Released:
Jul 14, 2022
Format:
Podcast episode
Description
Inflation hit a 41-year high on Tuesday, as the consumer price index
accelerated to 9.1% in June. More from WSJ
That, in turn, affects what might be Biden’s last, best shot at a deal
on reconciliation. Sen. Joe Manchin (D-W.Va.) said the new numbers make
him “more cautious than I’ve ever been” in reconciliation talks, he told
reporters. “Everything needs to be scrubbed, anything that can be
inflationary.”
AP’s Alan Fram: “It was unclear what impact Manchin’s comments would
have on his closed-door talks with Schumer, which have shown progress
lately. But they suggested he believed the day’s inflation report
strengthened his leverage in that bargaining and, beyond that, in
winning enough Democratic votes to push any agreement through the
tightly divided Congress.”
Which brings us to an emerging source of anxiety for Dems in
negotiations: Taxes. Democrats have long campaigned on raising tax rates
on the wealthiest Americans and large corporations — and Manchin himself
wants to use reconciliation to revisit the issue in the context of
deficit reduction. But now, Dems are agonizing over the potential
political pitfalls that come with raising taxes in an election year, as
Burgess Everett and Sarah Ferris write this morning.
Subscribe to the POLITICO Playbook newsletter
Raghu Manavalan is the Host of POLITICO's Playbook.
Jenny Ament is the Executive Producer of POLITICO Audio.
accelerated to 9.1% in June. More from WSJ
That, in turn, affects what might be Biden’s last, best shot at a deal
on reconciliation. Sen. Joe Manchin (D-W.Va.) said the new numbers make
him “more cautious than I’ve ever been” in reconciliation talks, he told
reporters. “Everything needs to be scrubbed, anything that can be
inflationary.”
AP’s Alan Fram: “It was unclear what impact Manchin’s comments would
have on his closed-door talks with Schumer, which have shown progress
lately. But they suggested he believed the day’s inflation report
strengthened his leverage in that bargaining and, beyond that, in
winning enough Democratic votes to push any agreement through the
tightly divided Congress.”
Which brings us to an emerging source of anxiety for Dems in
negotiations: Taxes. Democrats have long campaigned on raising tax rates
on the wealthiest Americans and large corporations — and Manchin himself
wants to use reconciliation to revisit the issue in the context of
deficit reduction. But now, Dems are agonizing over the potential
political pitfalls that come with raising taxes in an election year, as
Burgess Everett and Sarah Ferris write this morning.
Subscribe to the POLITICO Playbook newsletter
Raghu Manavalan is the Host of POLITICO's Playbook.
Jenny Ament is the Executive Producer of POLITICO Audio.
Released:
Jul 14, 2022
Format:
Podcast episode
Titles in the series (100)
Dec. 3, 2021: Crisis averted after conservatives cave: Congress avoided a government shutdown after Senate conservatives dropped their demands to nix President Joe Biden's vaccine mandates in the funding bill — and Senate Majority Leader Chuck Schumer gave them a way out. by POLITICO Playbook Daily Briefing