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NEW DATA: Oxford Economics finds Durbin-Marshall Credit Card Mandates would hurt local economies, costing $227 billion and 156,000 jobs across the country.
![]() PRESENTED BY![]() BY JOHN BRESNAHAN, ANNA PALMER AND JAKE SHERMAN THE TOPReminder: Don’t forget to watch at 8:30 a.m. EDT to our conversation with Sen. Joni Ernst (R-Iowa) about the uneven recovery of women-owned small businesses. It’s the final event in our Road to Recovery Series sponsored by Goldman Sachs 10,000 Small Business Voices. RSVP to watch here! A tip: Believe Joe Manchin when he speaks Good Tuesday morning. Eighty-four days ago, Sen. Joe Manchin (D-W.Va.) laid out in a memo to Senate Majority Leader Chuck Schumer why he was only willing to support a reconciliation bill worth up to $1.5 trillion, less than half of what Democrats called for in their $3.5 trillion budget resolution. Manchin voted for the resolution two weeks after he and Schumer signed the now-famous memo. Yet even before that, Manchin had spent months telling reporters in the Capitol that he … → … wasn’t willing to spend much more than $1.5 trillion. → … believes vital programs like Medicare and Social Security are in danger of insolvency and wants to save them rather than expanding them. → … supports means testing on government programs, as he showed during last-minute negotiations over the $1.9 trillion American Rescue Plan in March. → … was opposed to the Democrats’ clean energy plans. Manchin has been remarkably consistent, and all the major media outlets have reported it time and time again. If you’re surprised by what Manchin is saying now, maybe you’ve been really busy, tied up on other endeavors and haven’t listened to or read what he’s said. That’s understandable. Life moves pretty fast. But if you have listened to Manchin and you’re still surprised by or enraged at his positions, that may be because you’re irrationally hopeful he will change his beliefs, or you’re engaging in wishful and likely unrealistic thinking. Maybe you’re just listening to what you want to hear. But don’t worry, you aren’t alone. Half of official Washington has decided that they’re going to ignore what Manchin says and believe he has a secret set of beliefs he’s waiting to unveil. Here’s what you have to understand about Manchin: He says what he means. When he gets heavy pressure from the left, it helps him back home. Here’s the reality: Joe Manchin is a filibuster-supporting conservative Democrat who is also an ardent supporter of coal, skeptical of big government and massive spending packages. He never pretends otherwise. Let’s all stop acting surprised when he says the same thing for the umpteenth time. The Coverage: → NYT’s Emily Cochrane: “Democrats Are Courting Manchin on Their Agenda. Here’s What He Wants.” → Politico’s Burgess Everett and Marianne LeVine: “The Manchin and Bernie show consumes Democrats” PRESENTED BY EXXONMOBIL Over the past 30 years, ExxonMobil has captured more man-made CO2 than any other company. Now we’re collaborating with others in industry to make an even bigger impact, and help society reach its net-zero ambitions. We’re one of 11 companies that have expressed interest in advancing carbon capture and storage technology in the Houston industrial area, setting out to remove about 100 million metric tons of C02 per year by 2040. BEHIND THE SCENES WITH DEMOCRATS Biden will huddle with House and Senate Dems on reconciliation ![]() Land the plane. That phrase — or some permutation of it — is what we kept hearing late Monday about what the White House is trying to accomplish in meetings and discussions with a group of House and Senate Democrats this week. It’s a critical moment for President Joe Biden and Democratic leaders on their multi-trillion dollar reconciliation proposal. If Biden wants to save his Build Back Better agenda — which is in trouble right now — and the $1 trillion bipartisan infrastructure bill, he’s got to find a way to bring warring moderates and progressives together. Biden had a phone call with Sen. Joe Manchin (D-W.Va.) on Monday night, CNN’s Kaitlin Collins reported. And Sen. Kyrsten Sinema (D-Ariz.) is expected to meet with Biden on Tuesday, per the Arizona Republic’s Yvonne Wingett Sanchez. “The in person meeting comes after a week of w/ calls Biden, WH staff, Schumer’s team, Senate, House folks,” Sanchez noted. There’s also an array of other Democrats heading down to 1600 Pennsylvania Ave. today. At 2 p.m., a group of House progressives will be at the White House. Invited lawmakers include: Reps. Katherine Clark (Mass.), Barbara Lee (Calif.), Jimmy Gomez (Calif.), Jared Huffman (Calif.), Pramila Jayapal (Wash.), Ritchie Torres (N.Y.), Mark Pocan (Wis.), Debbie Dingell (Mich.) and Ro Khanna (Calif.). At 4:30 p.m., the following moderates are slated to meet with Biden: Reps. Suzan DelBene (Wash.), Josh Gottheimer (N.J.), Tom O’Halleran (Ariz.), Ami Bera (Calif.), Mike Thompson (Calif.) and Sens. Mark Warner (Va.), Jon Tester (Mont.) and Catherine Cortez Masto (Nev.). A few notes: With razor-thin majorities in the House and Senate, every single Democrat is critical, so you’re obviously going to miss some important people. Count us a bit surprised that Reps. Jared Golden (Maine), Stephanie Murphy (Fla.), Scott Peters (Calif.), Ed Case (Hawaii) or Kurt Schrader (Ore.) aren’t on the invite list. Is this a negotiating session or a time for Biden to be bucked up? FRONT PAGE OF THE POST Woodward publishes July interview with Colin Powell ![]() It’s no secret that Bob Woodward is pretty well sourced in the military. His books have deep reporting from high-ranking officials about their decision making, and the decision-making process of presidents dating back decades. So this morning, upon Colin Powell’s death, the Washington Post put a Woodward interview with the former secretary of state and four-star general on A1. Here’s the Woodward story, with some audio.
PRESENTED BY EXXONMOBIL ExxonMobil is advancing climate solutions like carbon capture and storage to help create a lower-carbon energy future. FRONTS ![]() ![]() MOMENTS 9:30 a.m.: President Joe Biden will get his daily intelligence briefing. 11:30 a.m.: Senate Majority Leader Chuck Schumer will speak about climate change at the Senate Swamp. 1 p.m.: Jen Psaki will brief. 2 p.m.: Biden, Vice President Kamala Harris and Treasury Secretary Janet Yellen will meet with progressives about the administration’s legislative agenda. … Senate leadership will speak to reporters. 4:30 p.m.: Biden, Harris and Yellen will meet with moderates to discuss the administration’s legislative agenda. CLIP FILE NYT → “Biden’s Paid Leave Plan at Risk as Lawmakers Look to Shrink Package,” by Madeleine Ngo → “Jefferson Statue Will Be Removed From N.Y.C. Council Chambers,” by Jeffrey C. Mays and Zachary Small WaPo → “What is Tommy Tuberville doing here?” by Ben Terris → “FDA to allow ‘mix-and-match’ approach on coronavirus booster vaccines,” by Laura McGinley → “University of North Carolina can consider race in admissions, federal judge rules,” by Bryan Pietsch WSJ → “SEC’s GameStop Report Questions ‘Game-Like’ Trading Apps,” by Paul Kiernan and Alexander Osipovich AP → “Seoul says North Korea tested possible submarine missile,” by Kim Tong-Hyung and Hyung-Jin Kim in Seoul, South Korea → “Texas lawmakers pass new congressional maps bolstering GOP,” by Acacia Coronado and Paul J. Weber in Austin, Texas → “‘A dangerous time’: Portland, Ore., grapples with record homicides,” by Sara Cline PRESENTED BY EXXONMOBIL Many climate experts around the world agree that carbon capture and storage is a critical technology to help enable a lower-carbon future. That’s why, at ExxonMobil, we’re advancing readily available climate solutions like carbon capture and storage to help reduce emissions at scale and advance climate solutions. We’re one of 11 companies that have expressed interest in advancing CCS technology in the Houston industrial area. Together, the 11 companies believe we could capture and store about 100 million metric tons of CO2 per year by 2040 from the Houston industrial area. That’s equivalent to taking more than 20 million cars off the road today. With the appropriate public and government support, we believe we could have a big impact, sooner than later. This collaborative effort is just one way ExxonMobil is working to advance climate solutions. ![]() Enjoying Punchbowl News AM? ![]() Subscribe 10 friends with your unique link (below) and get a Punchbowl News hat! Your referral link is: Or share via You currently have: 0 referrals
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NEW DATA: Oxford Economics finds Durbin-Marshall Credit Card Mandates would hurt local economies, costing $227 billion and 156,000 jobs across the country.