A highlight from Pay Fors, Price Tags, and Politics
Plus a big announcement from the biden administration on vaccine diplomacy and finally the race for new york city. Mayor heats up at a fiery debate at any given moment in these ongoing negotiations between the biden administration and senate republicans. This is either moving towards a path. Where a bipartisan. Deal is possible or the two sides are so far apart. There's no chance whatsoever for a deal at any given moment. You can have people telling you both versions of that but what we learned today of what took place in yesterday's meeting between president biden and the lead republican senate negotiator shelley moore. Capito of west. Virginia is that biden's going along way to trying to make a deal here so as you know he's already brought down the overall price tag by about half of what he originally proposed circling around this top line of a trillion dollars. Now the biden team has made clear. They want that to be in new spending and senate. Republicans have made clear. They're not interested in quite that much new spending on infrastructure but one of the biggest roadblocks to date has been. How is it going to get paid for it no matter what. The top line number is joe biden. Really wanted to raise the corporate tax rate in order to pay for his infrastructure. Plan that mitch. Mcconnell and other republicans have said is a total red line. They're not willing to cross well. Looks like joe biden is coming a little bit to the republicans saying okay. I'll think of another way to pay for this. So apparently behind closed doors. The president offered a different pay for which is to charge a minimum corporate tax of fifteen percent. The goal here is to try and get some money out of those incredibly wealthy corporations who seem to avoid any kind of tax liability whatsoever under the current tax code so this isn't touching the corporate tax rate but it is saying that a company like amazon that could get away with paying nothing actually is going to have to meet a minimum corporate tax of at least fifteen percent white house press secretary. Jen psaki addressed this piece of the proposal today from the podium. The president did a thorough review of all of the tax reforms. He's proposed many them on the campaign so he talked about this on the campaign and he looked to see what could be a path forward with his republican colleagues on this specific negotiation. So what's really going on here. Well we'll know more tomorrow after there's a follow up between biden and shelley moore capito as this clearly is a trial balloon out there to see what kind of response it gets. But here's what we know. Joe biden is doing everything to publicly show. He wants a bipartisan deal. Now at the end of the day he may not get a bipartisan deal. The republicans just may not come aboard. But this is now a game a strategic game of. How do you walk away from these negotiations and still come out a winner for joe biden the calculus is look like you are bending over backwards to try and get a republican on board or enough republicans on board for successful bipartisan. Deal and that if that falls apart that it will look like. The republicans are being unreasonable. That you came so far in the negotiation towards the republicans and they still walked away. And then you can turn to joe mansion and say see. I did what you wanted. I tried everything possible to get a bipartisan deal. Now i need you to come along with the democratic only strategy to get this across the finish line. That's what you're seeing at. Play right now in these infrastructure negotiations that may come to a head next week although there seems to be a disconnect transportation secretary booted said next week is sort of a hard deadline. Bipartisan deal or democratic version alone. Jen psaki today in the white house. Briefing indicated no such hard deadline.