Biden, Senator Joe Manchin, Alan Fram discussed on POLITICO Playbook Audio Briefing
Presented by pharma a good morning playbook or some Rogue One of Allen, it's Thursday. Today's show, how inflation is impacting the latest round of reconciliation talks. It's her Politico playbook daily briefing. Inflation hit a 41 year high on Tuesday as the consumer price index accelerated to 9.1% in June. That, in turn, affects one might be Biden's last best shot at a deal on reconciliation. Senator Joe Manchin told reporters, but the new numbers make them quote more cautious than I've ever been. Everything needs to be scrubbed. Anything that can be inflationary. From Alan fram from The Associated Press, quote, it was unclear what impact mansion's comments would have on his closed door talks, with Schumer, which have shown progress lately, but they suggested he believed that days 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 Democrats 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, dumbs are agonizing over the potential political pitfalls that come with raising taxes in an election year, as Politico's Burgess Everett, and Sarah Ferris right in playbook this morning. The policy considerations at play, quote, there's relatively broad agreement on using any party line bill to increase taxes on some high earning Americans who run so called pass through businesses to pay for Medicare solvency. But Democrats are undecided on including a proposed surtax on people making more than $10 million and an increase in minimum taxes on large corporations, and Manchin says he won't support any tax increases that aggravate inflation. Democrats are aiming to raise $1 trillion to pay for their long sight legislation. Medicare taxes and prescription drug reform get them roughly halfway there. Their warmer tour 15% corporate minimum tax that on Sur taxes on individual high earners. According to a person briefed on the discussions. But no final decision has been made. Each would raise roughly $200 billion. The party is also considering other ways of raising revenue, including a new global tax deal and increased IRS enforcement, which is highly favored by moderates. The political considerations, quote, though tax increases on high income Americans and big companies poll well, Republicans are eager to disregard that nuance and cast Democrats as broadly raising taxes amid inflation, as well as a possible recession. The GOP plans to hammer any tax increases to Democrats include in their bill ahead of November's midterms. But even if the politics of an election year tax hike and record setting inflation are potentially toxic for Democrats, Biden sees one thing on the political horizon, working in his favor, a potential Trump 2024 run. In an Israeli TV interview, Biden was asked whether he thought he would face Donald Trump for a rematch in 2024. Per Bloomberg's Jordan Fabian and Jennifer Jacobs, he had this to say, quote, I'm not predicting I'll face him, but I would not be disappointed. As Trump tries to land on the best time to announce his 2024 candidacy, he's convening quite confabs with some of his wealthiest and highest profile supporters, but because Alex eisenstadt scoops. Quote, the gatherings have taken place in Houston, Nashville, and last Friday evening in Las Vegas, where billionaire casino mogul and longtime Trump friend Phil ruffin implored the ex-president to launch another run for The White House soon. The consensus has been that Trump should run again. The only question being when he should announce, with the most echoing ruffins view, but others saying Trump would be better served by waiting until after the midterm elections. The informal off the record dinners are not designed to focus on the 2024 race, and typically center on other issues. During one, South Carolina senator Lindsey Graham got into a contentious back and forth with country music star John rich, over coronavirus vaccines, and the Las Vegas group talked about the Ultimate Fighting Championship. Here's what's up in Washington today starting with The White House, president Joe Biden already this morning, as participated in a bilateral meeting with Israeli prime minister yair lapid and participated in the first meeting of the aitu YouTube group with the leaders of Israel, India, and the United Arab Emirates. At 7 a.m., Biden will participate in a news conference with lapid at 9 45 Biden will meet with Israeli president Isaac Herzog at ten 20, he'll meet with former prime minister Benjamin Netanyahu, and at 1120, president Joe Biden will receive the Israeli presidential Medal of Honor. Here's what's on the vice president's calendar, this morning she'll head to Orlando, Florida, where to one 50, vice president Kamala Harris will hold a roundtable with Florida legislative leaders to discuss reproductive rights with HHS secretary Javier becerra. At 4 p.m., she'll head to Tampa, Florida, where she'll meet with service members, representing United States.