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Speaker 3: As we get started here with the Thursday edition of
Speaker 3: Bloomberg Sound On, I'm Joe Matthew back.
Speaker 4: In Washington, d C. At least for a moment.
Speaker 3: We're New Hampshire bound this weekend, and for good reason,
Speaker 3: as we had for the first in the nation primary,
Speaker 3: and we'll bring you special coverage from the Granite State.
Speaker 4: Real doubts today about.
Speaker 3: The so called momentum behind Nikki Haley that we were
Speaker 3: talking about just a week ago. Quite a bit has
Speaker 3: changed since the Iowa caucuses. In a new poll by
Speaker 3: Saint Ansel kind of says it all finding as I
Speaker 3: read in the headline, Trump now enjoys majority support within
Speaker 3: likely New Hampshire Republican presidential primary voters.
Speaker 4: We saw a.
Speaker 3: Blowout win, of course in Iowa, and there are questions
Speaker 3: about what this might look like. Remembering again, it was
Speaker 3: just a week ago people were talking about a potential
Speaker 3: win for Nicki Haley, now governor christanninhu is talking about
Speaker 3: a strong second and that's where we begin our conversation
Speaker 3: today before we turn to our panel, and I'm looking
Speaker 3: forward to having Kristin Han on board with us.
Speaker 4: Genie is off today and we'll be back tomorrow.
Speaker 3: Chris Galdari one of the political voices we turned to
Speaker 3: in New Hampshire, a political scientist and professor at Saint
Speaker 3: Anselm College, which again cranked out this poll.
Speaker 4: It's great to see you, Chris.
Speaker 3: Were almost there, and I wonder your thoughts on what
Speaker 3: we're seeing today because your poll importantly reflects the departure
Speaker 3: of Chris Christie. And it looks like those votes, at
Speaker 3: least a majority of them did go to Nicky Haley,
Speaker 3: but not enough to make a difference.
Speaker 5: That's right, and I think, you know, I think the
Speaker 5: Iowa result took some of the wind out of Haley's sales.
Speaker 5: You know, her campaign had been talking about potential second
Speaker 5: place finish, DeSantis being in a distant third, and instead
Speaker 5: that's not what happened. Trump won by a huge margin
Speaker 5: in Iowa, but Desanta's finished ahead of Haley, and I
Speaker 5: really struggled, I think, to uh find her footing after that.
Speaker 5: You know, she talked about it being a two person race.
Speaker 5: But you know DeSantis, you know he's still in this,
Speaker 5: but he is down in South Carolina and talking about
Speaker 5: Super Tuesday. I just think, you know, this poll suggests
Speaker 5: that you know, Haley might have you know, might have
Speaker 5: hit her ceiling and maxed out her support that's out there.
Speaker 3: It's an interesting scenarios that kind of peak early in
Speaker 3: New Hampshire since it's so early in the process, but
Speaker 3: so people know what we're talking about here. Donald Trump
Speaker 3: at fifty two percent. That's up seven points since last week,
Speaker 3: up seven. Also up seven is Nikki Haley, and that
Speaker 3: would reflect what we saw with the Christie votes moving around.
Speaker 3: I think you might agree that's thirty eight percent, So
Speaker 3: fifty two thirty eight, that's a big spread here. Chris,
Speaker 3: what did you think yesterday when you heard Chris Sanunu
Speaker 3: talk about a strong second, because we've got to be honest,
Speaker 3: they were talking about winning this.
Speaker 5: Yeah, I mean, I think, you know, unless it's a
Speaker 5: strong second, like you know, remember the twenty twelve Iowa
Speaker 5: caucuses where there was like seven votes between Romney and Santorum,
Speaker 5: I think anything short of that is going to be
Speaker 5: a really significant blow to the Haley campaign to go
Speaker 5: from talking about winning to talking about a strong second.
Speaker 5: I mean, you don't want to be the candidate who's
Speaker 5: talking about a moral victory or placing a really really robust, bust,
Speaker 5: strong second, because you know, winning's the name of the game,
Speaker 5: and you know, in this sort of sequential primary system,
Speaker 5: you know there is not another state in the Union
Speaker 5: that is tailor made for Haley to do well as
Speaker 5: New Hampshire. I mean, if she can't do it here,
Speaker 5: you know, I struggle looking at the rest of the
Speaker 5: map to see other states where she's going to pull
Speaker 5: off an upset well.
Speaker 3: And a lot of folks are saying, even if she
Speaker 3: won New Hampshire, that there might not be a path here.
Speaker 3: And I realized a lot of things can change overnight
Speaker 3: when you win New Hampshire, Chris By talking about moral victories,
Speaker 3: I'd love to know what it felt like or what
Speaker 3: grown you might have heard of New Hampshire. When Nicky
Speaker 3: Haley and Ronda sam We're both on stage in Iowa,
Speaker 3: DeSantis saying we got our ticket punched in Iowa even
Speaker 3: though it was a distant second. And Nikki Haley, who
Speaker 3: came in third, says, now, two person race because she
Speaker 3: won one of ninety nine counties. That's not exactly Yeah,
Speaker 3: the momentum you need to fly into New Hampshire.
Speaker 4: Yeah, that's exactly right.
Speaker 5: I mean, I think I think there was a lot
Speaker 5: of willful self delusion going on on those stages on
Speaker 5: Monday night. You know, DeSantis had the endorsement of the governor,
Speaker 5: he had the endorsement of Bob vander Platz, an extremely
Speaker 5: influential evangelical conservative leader, and that got him to twenty
Speaker 5: one percent. Haley had been talking about coming on strong
Speaker 5: and surging into second place and giving Trump a scare
Speaker 5: and knocking Dessantis out of the race, and instead she
Speaker 5: finished behind DeSantis. You know, it is just, you know,
Speaker 5: really tough to look at that, and you know, look,
Speaker 5: you say what you have to say to get through
Speaker 5: the disappointing election result. I remember remember Joe Lieberman coming
Speaker 5: in fifth and saying it was a three way tie
Speaker 5: for third. And if you're really old, you remember Mike
Speaker 5: Dukaka saying he won a bronze medal in Iowa in
Speaker 5: nineteen eighty eight.
Speaker 4: Remember that.
Speaker 5: But yeah, it's just, you know, look, I mean it's
Speaker 5: winning is better than losing. Sure, sometimes a strong second
Speaker 5: can help when you've got when you've got a close race,
Speaker 5: when you've got you know, a delegate hunt going on,
Speaker 5: like you know, Clinton Obama in two thousand and eight.
Speaker 4: But this isn't that.
Speaker 5: This is a dominant front runner who won a big
Speaker 5: victory in Iowa and seems on track for a similarly
Speaker 5: sized victory in a state where you know, it's the
Speaker 5: best case for somebody else to win, and yet Trump
Speaker 5: seems to have been doing quite nicely here.
Speaker 3: Well, we're getting this straight deal from New Hampshire today
Speaker 3: with Chris Calderi at Saint Anselm College speaking of willful
Speaker 3: self delusion. I don't know if he just came up
Speaker 3: with that on the spot, but that was pretty good.
Speaker 3: Your governor, Chris san Nunu might have something very much
Speaker 3: in common with the governor of Iowa, Kim Reynolds. They
Speaker 3: both went out on the line and endorsed somebody. It
Speaker 3: looks like who's not gonna win.
Speaker 4: Isn't that something?
Speaker 5: Yeah?
Speaker 2: It is, it is.
Speaker 5: And you know, Christian hu knew he thought about running
Speaker 5: for president himself in this cycle and decided against it,
Speaker 5: and then he spent a lot of the last year
Speaker 5: sort of courting and boosting all of the other Republican
Speaker 5: candidates who weren't Trump. He's talked about the need for
Speaker 5: a non Trump alternative, and basically he was you know,
Speaker 5: if you know, if you were a Republican running for president,
Speaker 5: he would show up at your events to to boost
Speaker 5: your profile here and ultimately settled on endorsing Haley. That said,
Speaker 5: he's also said, well, of course, if Trump's the nominee,
Speaker 5: I'll vote for him, which I think also sort of
Speaker 5: stepped down the Hailey campaign's message, which is that Republicans
Speaker 5: need somebody who's not Trump. You know, she's being very
Speaker 5: gentle in her criticism. It mainly comes down to electability,
Speaker 5: but she's you know, made the argument, Look, Donald Trump
Speaker 5: is not popular with the country at large. Republicans, you
Speaker 5: might love him, but everybody else does not. So go
Speaker 5: with go with a fresh face, go with somebody younger,
Speaker 5: go with somebody without the baggage. So I think for
Speaker 5: Sonunu to say, on the one hand, we have to
Speaker 5: have Haley as our nominee, and on the other to say,
Speaker 5: but if it's Trump, of course I'll vote for him.
Speaker 5: Over Biden is just you know, just you know, you're
Speaker 5: you're you're stepping on your own message.
Speaker 3: There, not that that is unusual here. We haven't really
Speaker 3: mentioned Ronda Santis because you know he's unchanged. Isn't that fascinating?
Speaker 3: In your poll? Haley and Trump are each up seven
Speaker 3: still with a wide gap, But Ronda Santis is stuck
Speaker 3: in the mud.
Speaker 4: And it's interesting.
Speaker 3: He's moving his staff out of New Hampshire now to
Speaker 3: South Carolina and it's going to be spending half the
Speaker 3: time between now in your primary and either Florida or
Speaker 3: South Carolina.
Speaker 4: So is this over?
Speaker 5: I you know, I never want to say it's over
Speaker 5: before voting happens. You know, events can take place, you know,
Speaker 5: you know, media could hit somebody's campaign bus or something.
Speaker 5: But you know DeSantis, you know, Uh, he's in a
Speaker 5: really tough spot of having been a candidate who came
Speaker 5: on very strong, had lots of lots of support, had
Speaker 5: tons of money, uh, and it just all evaporated. It
Speaker 5: just wasn't enough for him. He staked everything on Iowa.
Speaker 5: That didn't happen if he spent a year in Iowa,
Speaker 5: had the support of the governor and so on and
Speaker 5: couldn't get better than twenty one percent. I don't know
Speaker 5: how he's going to improve on that in someplace like
Speaker 5: South Carolina, where he's barely set foot in the last year.
Speaker 6: Uh.
Speaker 5: And then once you get to Super Tuesday, I mean,
Speaker 5: what what what is the plan there? I just you know,
Speaker 5: I just don't see what it is.
Speaker 4: Anybody care they canceled the debate after because I.
Speaker 5: Personally, like, I mean, I'm taking it personally. It's it's
Speaker 5: like they canceled the prom or something thing. But you
Speaker 5: know it it I mean, it's a huge event. It
Speaker 5: was a blow to our college that was going to
Speaker 5: host it. It's an opportunity to put you know, our
Speaker 5: our students, our our staff, our campus on the national map.
Speaker 5: You know, I don't think anybody's like taking it personally personally,
Speaker 5: but I think I think it was a blow to
Speaker 5: those of us in New Hampshire whose bread and butter
Speaker 5: is the presidential primary.
Speaker 4: I'm glad we finally got it from somebody in New Hampshire.
Speaker 4: When does the carnival begin?
Speaker 3: I know Donald Trump's doing the rally and I remember,
Speaker 3: by god, we've seen this before. The traveling road show
Speaker 3: that follows him will occupy downtown Manchester and Elm Street.
Speaker 3: You'll think, you know, you're tailgating before this thing. When
Speaker 3: does it all begin.
Speaker 5: I think his Manchester rally is on Sunday afternoon this year.
Speaker 5: Last year, I think it was the day before the primary,
Speaker 5: and I think I think we actually yes on TV
Speaker 5: that day, so I got to make my way through
Speaker 5: that to get to the studio. So that was a
Speaker 5: little Harriet. But yeah, he's doing that.
Speaker 7: He is.
Speaker 5: He's doing an event here and conquered on Friday night.
Speaker 5: And you know what's remarkable about Markable about this is
Speaker 5: he has not done a ton of in person campaigning here.
Speaker 5: He's put together a pretty professional campaign organization, but has
Speaker 5: not done a lot of in person stuff. And I
Speaker 5: think he's just really ramping it up. It's really clear
Speaker 5: that his campaign thinks they can put this away, and
Speaker 5: so they're they're pulling out all the stuff. In the contrast,
Speaker 5: Haley's sort of campaigning in second gear. It's just sort of,
Speaker 5: oh yeah, she did a couple of events, didn't take
Speaker 5: any questions, didn't talk to many voters, and it's just,
Speaker 5: you know, just just kind of mystifying from here.
Speaker 3: Strange take is does Donald Trump ever spend the night
Speaker 3: or does he fly home every time he speaks in
Speaker 3: New Hampshire.
Speaker 5: I think he flies home. And and of course this
Speaker 5: week he's dividing his time between the campaign trail and
Speaker 5: the courtroom, so that that just adds an extra wrinkle
Speaker 5: to his appearances. That's probably why the rallies.
Speaker 4: I'll meet you Monday. Yes, of course, I'm looking forward
Speaker 4: to seeing you. Chris.
Speaker 3: We'll be talking on the ground in Manchester starting next week.
Speaker 3: I'm sorry about the debate now, I feel sad about it.
Speaker 2: It's okay.
Speaker 3: He's at st Anselm College. I want to meet some
Speaker 3: of your students while we're there. Chris Calderry in New
Speaker 3: Hampshire with us here to get things rolling on Bloomberg
Speaker 3: sound on b Welser. As we assembled our panel, Rick Davis,
Speaker 3: Bloomberg Politics contributor, Republican strategist today is joined by Kristin Han,
Speaker 3: Democratic analyst Rock Solutions.
Speaker 4: It's great to have both of you here.
Speaker 3: Is Joe Biden excited looking at this, He said he
Speaker 3: wanted to run against Donald Trump, right, I mean.
Speaker 8: I think there it's gonna be tough. I mean, like
Speaker 8: Donald Trump. We're having lots of conversations about Nikki Helely
Speaker 8: and Rohndes Saint said this is gonna be over soon.
Speaker 8: But I don't think anybody is saying that. You know,
Speaker 8: nobody on the president scene thinks this is going to
Speaker 8: be a landside and we're going to have to work
Speaker 8: hard to mind people who Joe Biden is is.
Speaker 3: I'm good to go running the right strategy going into
Speaker 3: New Hampshire.
Speaker 7: Rick.
Speaker 9: You know, look, I thought his I thought Chris's point
Speaker 9: about needing a meteor to even up this score a
Speaker 9: little bit was probably a good idea. I needed that
Speaker 9: media in a lot of campaigns I ran. But yeah, no,
Speaker 9: she should be going in overdrive. Forget this second drive.
Speaker 9: I mean she should be all out there. I mean,
Speaker 9: this is what the New hampshirets love, they love, you know,
Speaker 9: getting into those town halls and answering the questions and
Speaker 9: doing six of them in one day, plowing through the snow.
Speaker 9: I'm baffled myself by the second gear.
Speaker 3: So what's the job for her then this weekend? I mean,
Speaker 3: I suppose there's some time. Do you bring in the surrogates?
Speaker 3: Does she have an army like that to put some
Speaker 3: work in New Hampshire.
Speaker 9: You know, she's got the governor, and the governor is
Speaker 9: wildly popular and very active on his own, right. I mean,
Speaker 9: that's that's her secret weapon. But she has to prove
Speaker 9: herself to the New Hampshire voters. They don't take surrogates.
Speaker 9: You know, they want you.
Speaker 3: They want you, and they want to shake your hand
Speaker 3: more than once. Kristin, Was that a bad move for
Speaker 3: her to cancel on that debate?
Speaker 8: I mean, I don't see it made sense. I think
Speaker 8: because you know, she's she tried to spin her you know,
Speaker 8: third place finished in Iowa as a this is now
Speaker 8: a two person debate, and if it's a two persons
Speaker 8: between her and Trump and she does that, you know,
Speaker 8: it just kind of looks a little silly. So I
Speaker 8: think it probably was you know, her, you know, thinking
Speaker 8: on this, but it's it's silly to have these debates
Speaker 8: without Donald Trump in the room anymore too. So well, right,
Speaker 8: I don't.
Speaker 3: So you understand the logic, but maybe it wasn't the best. Look,
Speaker 3: I don't know. We'll figure that out. And want to
Speaker 3: get into this poll with Rick and Kristen coming up.
Speaker 3: The poll from Saint Anselme fascinating numbers here. We've got
Speaker 3: two great panelists with us, and we're going to spend
Speaker 3: some time on the pole next also with an eye
Speaker 3: on Washington. Are we shutting down on Friday? I'm Joe
Speaker 3: Matthew in Washington. This is Bloomberg.
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Speaker 3: A strong second is the new pitch from the ever
Speaker 3: popular governor of New Hampshire who went out on a
Speaker 3: limb to endorse Nicki Haley to try to make a difference.
Speaker 3: May have even convinced Chris Christy to get out of
Speaker 3: the race. That would be Chris Sanunu until I always
Speaker 3: talking about Nicki Haley winning this thing, and that is
Speaker 3: kind of what has changed here as we look at
Speaker 3: new polling from st Ansem College. We're just talking about
Speaker 3: that with Chris Calderia. We want to put it to
Speaker 3: the panel. A great combination today. Rick Davis is back
Speaker 3: from Iowa with us here Bloomberg Politics contributor Republican strategists,
Speaker 3: along with Democratic analyst Kristin Hahn, partner at Rock Solutions.
Speaker 3: Great to have you both here. Rick, your impressions on
Speaker 3: the poll. We've talked a lot about momentum. We thought
Speaker 3: it was going to be Nicki Haley these moments, and
Speaker 3: it appears to be Donald Trump's right now. He's up
Speaker 3: seven points now and just since last week, fifty two
Speaker 3: percent likely Republican primary voters.
Speaker 4: And while Nicki Haley.
Speaker 3: Scooped up all of Chris Christie's people, or at least
Speaker 3: a majority of them, it was far from enough to
Speaker 3: make a difference. Is a strong second the way we
Speaker 3: should look at this.
Speaker 9: Yeah, well it certainly looks like where we are today,
Speaker 9: and of course these polls are just a snapshot in time, right.
Speaker 9: I Mean, the question was could Nicky Haley's momentum that
Speaker 9: she clearly had going into Iowa continue coming out of Iowa?
Speaker 9: And would Donald Trump get a bump if he, you know,
Speaker 9: surpassed anybody's expectations, which I think is when in Iowa
Speaker 9: did so. What we're seeing in both this poll and
Speaker 9: the Globe Pole yesterday, very consistent, and both of them
Speaker 9: have Donald Trump over fifty percent. Both of them indicated
Speaker 9: a bounce coming.
Speaker 6: Out of Iowa.
Speaker 9: And even though you're right, I think that Nikki Haley
Speaker 9: has benefited from Chris Christy getting out of the race,
Speaker 9: it hasn't seemingly gone much beyond that. And so she's
Speaker 9: you know, in a trading range between the middle to
Speaker 9: high thirties, not enough to get you competitive against the
Speaker 9: present to win. And I'm sure that's one of the
Speaker 9: reasons why we're starting to hear from her folks internally,
Speaker 9: like Chris Sanunu that you know, setting expectations for a
Speaker 9: close second would be okay. New Hampshire is a funny
Speaker 9: place and it surprises you many times. There are a
Speaker 9: lot of pollsters who've lost their reputation for being accurate
Speaker 9: by going and pulling in New Hampshire. So I don't
Speaker 9: think you want to go to the bank with these numbers.
Speaker 9: And yet I think without a thing like a debate
Speaker 9: or you know, any major changes happening between now and Tuesday,
Speaker 9: you know, it seems to be on this trajectory.
Speaker 4: See we go again with the debate.
Speaker 3: She could have had a viral moment tonight, I still say, Kristin,
Speaker 3: how much stock are you putting in these numbers? I'd
Speaker 3: like to know how you're reading this poll, because there's
Speaker 3: some interesting stuff here with sixty percent of respondents that
Speaker 3: say they changed who they would support based on candidates
Speaker 3: suspending their campaigns. It's not just Chris Christy, but I
Speaker 3: suspect the theake Ramaswami.
Speaker 4: I won't mention Asa Hutchinson. Are turning to Nikki Haley?
Speaker 3: Could we see a light bump here a late search
Speaker 3: for her?
Speaker 8: Potentially New Hampshire is an interesting place. So you know,
Speaker 8: it's really that's why it's so hard. This is why
Speaker 8: we talk about it so much every time every cycle,
Speaker 8: because it's really hard to figure out what these voters
Speaker 8: are going to do. When you have such a high
Speaker 8: percentage of voters who identify as independence, they can go
Speaker 8: in and do whatever they want.
Speaker 1: Right.
Speaker 8: So, and what's interesting we go back to the debate.
Speaker 8: If she's not going to debate and spend time, you know,
Speaker 8: prepping for that, then why isn't she running around that
Speaker 8: state going from diner to diner, an event to an event.
Speaker 8: You know, I mean, if she's putting so much stake
Speaker 8: in this, you know, it baffles the mind.
Speaker 7: And then even.
Speaker 8: Looking forward past New Hampshire to South Carolina, I mean
Speaker 8: we're all thinking that. I mean, all signs point that
Speaker 8: she's going to get troused in her own state by
Speaker 8: Donald Trump. It just I don't know. I mean, even
Speaker 8: if she does surge in New Hampshire, it doesn't mean
Speaker 8: that she's got, you know, the resources or has put
Speaker 8: in the work to do what she needs to do.
Speaker 8: You know, come South Carolina Super Tuesday. You know all
Speaker 8: those things.
Speaker 3: Rick, I want to hear from you on this decision
Speaker 3: by Ronda Santis to start moving people out of New Hampshire.
Speaker 3: Most most of the staff is redeployed to South Carolina,
Speaker 3: almost closing the doors on the state here. And he's
Speaker 3: going to be sharing time between Florida and South Carolina
Speaker 3: while Nikki Haley's running around New Hampshire. You've been in
Speaker 3: campaigns that have made late decisions, changes in strategy in
Speaker 3: the flow here.
Speaker 4: What does this mean?
Speaker 9: Yeah, I think it's just a practical political consideration. First
Speaker 9: of all, they're doing no good sitting in Iowa, and
Speaker 9: if you like them, keep them. I moved all of
Speaker 9: our Iowa team to Florida when I was running the
Speaker 9: McCain campaign in two thousand and eight, because we we
Speaker 9: had a set group already in place in New Hampshire obviously,
Speaker 9: and we had a pretty good team, you know, with
Speaker 9: people like Mark Sandford and Lindsay Graham in South Carolina yep.
Speaker 9: And we were naked in Florida. So I was like,
Speaker 9: I got to use the resources I got, put people
Speaker 9: in cars and tell them to drive.
Speaker 4: They were not disappointed to leave.
Speaker 9: I was cold Florida's warmth, so I didn't have to
Speaker 9: pay anything extra for that.
Speaker 3: Have you thought out, by the way, people have no
Speaker 3: idea how difficult it was for people to get out
Speaker 3: of Des Moines. I mean, you know, the airplanes weren't
Speaker 3: working basically because it was so cold. Nothing was working. Rick,
Speaker 3: You're home safe, right.
Speaker 4: Well.
Speaker 9: I think that the the Santus campaign ought to hope
Speaker 9: that they actually a arrive in South Carolina by primary
Speaker 9: day as quickly as we were able to get out
Speaker 9: of there, and so yeah, there's been a lag effect.
Speaker 9: But look, I mean the real question there is what
Speaker 9: in the world does he think he's going to do
Speaker 9: in South Carolina? Now I move my people a practical consideration,
Speaker 9: he's going to spend time there.
Speaker 4: Okay, I get it.
Speaker 9: He's at you know, six percent in New Hampshire. He's
Speaker 9: not going to be competitive, but he's like at two
Speaker 9: percent in South Carolina. Like, that's a pretty good leap
Speaker 9: of faith to go there and look people in the eye,
Speaker 9: voters and say, hey, I can win this thing, especially
Speaker 9: when all the elected officials are for somebody else. I mean,
Speaker 9: I got to tell you, I think that he is
Speaker 9: trying to pretend that he doesn't see the future, because
Speaker 9: the future is too bleak to actually see.
Speaker 3: Ronda Santis is unchanged at six percent in this pool. Well,
Speaker 3: the two other candidates each gained seven points here, Kristen
Speaker 3: is does this end in South Carolina?
Speaker 8: No? I mean I think so people saw who ronescientasys
Speaker 8: And I always said, like, you know, you can listen
Speaker 8: to people these candidates like policy priorities, but if you
Speaker 8: don't like them, you know, people vote with how they
Speaker 8: feel and how they feel about the character of the
Speaker 8: person and who the person is. And he showed himself
Speaker 8: over and over again, you know in Iowa, the way
Speaker 8: he would react to the voters, the way he'd react
Speaker 8: to the press, you know, I just don't see how
Speaker 8: there's a path forward for him. He's just not likable.
Speaker 8: And that sounds simple, but it can be as easy
Speaker 8: as that.
Speaker 3: It's interesting to me when we consider rick the exceptions
Speaker 3: that surround Donald Trump, things that other candidates would have
Speaker 3: to do to be taken seriously. The fact that he's
Speaker 3: never spent the night there and he's going to do
Speaker 3: a couple more rallies in the next few days. Is
Speaker 3: Chris call Derry mentioned earlier this hour, He's got a
Speaker 3: matinee on Sunday, he's got something going on Friday, and conquered,
Speaker 3: he drives all the way back to me, flies all
Speaker 3: the way back to New York on that jet just
Speaker 3: so he can sleep in his own bed to go
Speaker 3: back the next morning. Could any other candidate get away
Speaker 3: with that?
Speaker 9: No, and no other candidate would want to get away
Speaker 9: with that. I mean, frankly, don't you want a good
Speaker 9: night's sleep and wake up where you're going to have
Speaker 9: your next event the next day and not spend all
Speaker 9: that money flying around? But he did this in twenty sixteen,
Speaker 9: and he did it in twenty twenty, so it's a
Speaker 9: learned behavior. He doesn't like to sleep outside his own bedroom.
Speaker 9: If I were his campaign manager, I think I'd be
Speaker 9: pulling my hair out because it just makes absolutely no
Speaker 9: sense other than your own personal interests.
Speaker 4: You know, Christen.
Speaker 3: It reinforces this idea that we've never seen two incumbents,
Speaker 3: if you will, running in the same race, because that
Speaker 3: might be normal for a president. Right, He's going to
Speaker 3: take Air Force one back if Joe Biden's doing an
Speaker 3: event somewhere, but that's going to be both of them.
Speaker 3: Just to consider the cost of securing both of these
Speaker 3: exercises and transporting these massive groups of people for the
Speaker 3: general election.
Speaker 8: He doesn't care. I mean, he just you know, I mean,
Speaker 8: he's not doing this because he wants to connect with anybody.
Speaker 8: And also, I mean I agree, like if I were
Speaker 8: his you know, campaign staff, I'd be pulling my hair out.
Speaker 8: But he also won Iowa and a landslide, and like
Speaker 8: didn't have to do much me because in court more
Speaker 8: than he was doing events in Iowa. So I mean,
Speaker 8: he just defies all, you know, all there are no
Speaker 8: rules when it comes to him.
Speaker 3: I guess maybe he has no choice on some days, guys,
Speaker 3: because he always has to go back to court. Somewhere
Speaker 3: the next morning, and that's going to be the narrative
Speaker 3: for the next year. A great conversation with Rick and Christner.
Speaker 3: We're going to turn to Capitol Hill in the White
Speaker 3: House next after the big meeting yesterday. Two big questions,
Speaker 3: are we going to avoid a government shutdown on Friday?
Speaker 3: And was progress actually made on a potential border deal.
Speaker 1: You're listening to The Bloomberg Sound on podcast. Catch us
Speaker 1: live weekdays at one Eastern.
Speaker 2: On Bloomberg dot com, the iHeartRadio app and Park Business app,
Speaker 2: or listen on demand wherever you get your podcast.
Speaker 3: Welcome to our two Bloomberg sound On Live from Washington.
Speaker 4: Kayley.
Speaker 3: I was in New York yesterday, which was part of
Speaker 3: my John Candy trip home and planes, trains and automobiles,
Speaker 3: which they became Escape from.
Speaker 10: New York yes and I was in the same.
Speaker 3: Room I did succeed. I got back at some point
Speaker 3: last night. I was in the same room as Charlie Pellett.
Speaker 3: He almost poked me when he was finishing his newscast,
Speaker 3: and it was great to see everybody up there, including
Speaker 3: Tim and Carroll, who were going to start seeing a
Speaker 3: little bit more often and talking with on Monday. We've
Speaker 3: got actually pretty big news because when we come back
Speaker 3: on Monday, this program will start at noon, it's going
Speaker 3: to be twelve to two Washington time, and we've got
Speaker 3: some cool surprises in store for you, and amazingly, we'll
Speaker 3: try to actually do all of that from New Hampshire because.
Speaker 8: That's where we'll be.
Speaker 4: That's where that's where we'll be.
Speaker 3: Where we are in sports here in Washington is another question,
Speaker 3: because it's looking like we will avoid a government shutdown. Yes,
Speaker 3: normally we've had countdown clocks on cable news and people
Speaker 3: would be holding news conferences yelling and blaming each other.
Speaker 4: But everyone's kind of quiet about this. We talked about
Speaker 4: it a little bit yesterday.
Speaker 3: They're sliding this thing through today so they can get
Speaker 3: out of town now before a snowstorm.
Speaker 10: I guess third time's a charm, Joe. There was a
Speaker 10: lot of drama to avoid that first potential shutdown.
Speaker 6: On September three.
Speaker 10: Behavior man, a lot of drama November seventeenth, and now
Speaker 10: maybe no drama here in January. The first deadline in January, mind,
Speaker 10: you were going to do this two step thing yet
Speaker 10: again with this current stop gap measure.
Speaker 3: But this would replace that, right, So the February date
Speaker 3: now it's March first, in March eighth if they passed this,
Speaker 3: so we don't have to freak out in February.
Speaker 4: But that's coming, by the way, two days.
Speaker 3: That'll be two days or the same week as the
Speaker 3: State of the Union, right the ends, that'd be the
Speaker 3: night after.
Speaker 4: Oh my god, I don't know how we're going to
Speaker 4: do all that.
Speaker 3: Yeah, Super Tuesday government shut down, State of the Union
Speaker 3: all in the same week.
Speaker 10: And I'm also pretty sure it's March where President Biden
Speaker 10: is supposed to deliver his budget for the next fiscal year,
Speaker 10: and we'll just be sorting out the budget for the
Speaker 10: fiscal year. We've already been in for almost six months
Speaker 10: at that point.
Speaker 3: I'm going to call the boss and get that week off.
Speaker 3: I think they'll say yes, Mike Dorning is going to
Speaker 3: come in to talk to us here, because Mike's going
Speaker 3: to be working overtime that week, of course. Bloomberg Politics reporter, Hey, Mike,
Speaker 3: it's great to see you. I'm wondering your thoughts here.
Speaker 3: Since we're not going to shut down, are we going
Speaker 3: to get something done on the border?
Speaker 7: Well, that's what we're hoping that's what Senator Schumer keeps
Speaker 7: holding out optimism that they'll try to work out something soon.
Speaker 7: And Joe Biden today was asked about it, and he
Speaker 7: also was saying that he was hopeful on that. But
Speaker 7: then you have Donald Trump, who is, you know, the
Speaker 7: front runner for the Republican nomination, his position as the
Speaker 7: leading Republican just reaffirmed by the Iowa Caucuses, you know,
Speaker 7: throwing cold water on all of this and saying, hey,
Speaker 7: Republicans in Congress shouldn't agree to this unless they get
Speaker 7: absolutely everything they want.
Speaker 10: Yeah, this is a question, Mike, We've been bringing up
Speaker 10: frequently on this program to what extent the former president
Speaker 10: is actually pulling the strings of congressional leadership, especially when
Speaker 10: the House Speaker, Mike Johnson admitted in an interview last
Speaker 10: night that he talks to Trump frequently about the border.
Speaker 7: Yeah. No, and he says he's talking with Trump frequently
Speaker 7: about a variety of issues. And remember, he was a
Speaker 7: very loyal Trump follower. He was one of the people
Speaker 7: who came up with the legal strategy to try to
Speaker 7: overturn the election. So he's very close with Trump, and
Speaker 7: a lot of the House Republicans are very closely tied
Speaker 7: to him that said it in the past. Johnson has
Speaker 7: gone along as he just did again with keeping the
Speaker 7: government open and avoiding a shutdown. You have people like
Speaker 7: Texas Governor Habit saying, hey, let's do something on the
Speaker 7: border instead of keeping this open as an issue. So
Speaker 7: there is some pressure on Republicans to actually do something
Speaker 7: and not just have a pretend fite full year long
Speaker 7: for the election campaign. And same thing on the Democratic side.
Speaker 7: It's not just that the Republicans are holding hostage the
Speaker 7: Ukraine aid. President Biden has Democratic mayors who are saying,
Speaker 7: you know, something needs to be done here. And if
Speaker 7: you look at the public polling, there are a lot
Speaker 7: of Americans, even Democrats, who want something done on the border.
Speaker 7: So there's still a reasonable prospect despite the potential cold
Speaker 7: water Trump is throwing on things.
Speaker 3: Boy well, I don't know if then we should be
Speaker 3: encouraged that Speaker Mike Johnson has sort of brushed off
Speaker 3: this request from Freedom Calock is to tie border to
Speaker 3: the stopgap that would keep the government open on Friday,
Speaker 3: and that would guarantee I suspect a shut down for
Speaker 3: some period of time if they did that, is he
Speaker 3: capable of rebuffing Donald Trump if it means doing something
Speaker 3: for the good of the Congress or the country.
Speaker 7: Here, Mike, I think he's capable of rebuffing Donald Trump
Speaker 7: as long as it's kind of a low key effort
Speaker 7: by Trump, like some posts on truth social or something
Speaker 7: like that and Trump while Trump is focusing on other things.
Speaker 7: But if Trump makes this something that is front and
Speaker 7: center and is issuing repeated demands, it'll be hard for
Speaker 7: him to actually openly break with Trump. So as long
Speaker 7: as this is just something where Trump is throwing a
Speaker 7: little bit of cold water on things, I think he
Speaker 7: is capable of breaking and going his own way and
Speaker 7: trying to do something. He's clearly made the calculation that
Speaker 7: he does not want a government cutdown if he can
Speaker 7: avoid it. Well, he's also clearly made the calculation that
Speaker 7: he's much better off focusing on the border and immigration
Speaker 7: than anything else. And in fact, all year long we've
Speaker 7: been hearing economies the number one issue. Well, in the
Speaker 7: entrance polls for the Iowa caucuses, you saw that immigration
Speaker 7: is now even a bigger issue for Republicans than the
Speaker 7: common Yeah.
Speaker 10: That's a really good point, Mike Dorning Bloomberg, Congressional Deputy editor.
Speaker 10: Thank you so much for joining us and right on
Speaker 10: que while we've been talking a lot about the House,
Speaker 10: the Senate now has the votes to pass that stop
Speaker 10: gap funding bill, and then, of course we expect it.
Speaker 10: We'll go right to the House, which will vote on
Speaker 10: it today and it's a suspension of the rules, so
Speaker 10: you need two thirds of the members of that chamber
Speaker 10: to pass this.
Speaker 4: That's actually a really good point.
Speaker 3: So I won't I won't drive by. I'll go down
Speaker 3: the other side of the river afterwork tonight. It will
Speaker 3: not go by the airport, is what you're saying, because, yeah,
Speaker 3: the vast exodus.
Speaker 10: The jet themes will be got it in the air well.
Speaker 10: Joining us now for more on this before we get
Speaker 10: to the jet fumes is Bill hoglint He is the
Speaker 10: senior vice president at the Bipartisan Policy Center. Bill, always
Speaker 10: a great to have you on the show. It looks
Speaker 10: like we're going to get another cr the third we've
Speaker 10: seen in what less than six months. Are you confident
Speaker 10: this will be the last?
Speaker 11: No, I'm not confident this will be the last. Thank
Speaker 11: you for having me. But as you say, the Senate
Speaker 11: literally as we speak has just passed sixty four votes,
Speaker 11: so they will send the Continuing Resolution on the Teering
Speaker 11: System March one and March eight over to the House
Speaker 11: this evening, and as you've already recorded in concern about
Speaker 11: it possible snowstorm tomorrow. It's interesting how weather it impacts policy.
Speaker 11: The Senate or the House will probably take it up
Speaker 11: early this evening and try to pass it under the
Speaker 11: suspension this evening. But this is not the last we've
Speaker 11: seen of this, so we've still got a ways to go.
Speaker 11: And getting a Talking.
Speaker 3: About your long CR bill, well, I just wonder what
Speaker 3: the options are, because I can't imagine the world which
Speaker 3: we figure out how to fund the government for real.
Speaker 11: Yeah, the problem with the long term CR is under
Speaker 11: the Fiscal Response Ability Act, it triggers some sequesters, and
Speaker 11: the defense people will not like these questions that would
Speaker 11: be coming along with a full year CR. But quite
Speaker 11: quite frankly of them as you are. In some ways,
Speaker 11: I'm beginning to think, hey, we're six months or half
Speaker 11: of the way through the fiscal year. By March, let's
Speaker 11: just admit that we've were finished with fiscal year twenty four.
Speaker 11: President will submit his budget for the next fiscal year.
Speaker 11: Right around then, as you say around State of the
Speaker 11: Union address, let's admit that we've finished up fiscal twenty
Speaker 11: four and move on to twenty five.
Speaker 10: But then the one percent cuts kick in, right So
Speaker 10: I totally get what you're saying, Bill, Why even bother
Speaker 10: if you're only talking a few months by the time
Speaker 10: you actually sort it out, just start fresh in the
Speaker 10: new fiscal year. But isn't that problematic?
Speaker 11: I think it's problematic because people do not want to
Speaker 11: have those cuts kick in. And yes, I think the
Speaker 11: Senate's further along than the House obviously. But one of
Speaker 11: the big hang ups that I now see coming, and
Speaker 11: this is maybe it's in the weeds a little bit.
Speaker 11: In the letter that the news Speaker put out on
Speaker 11: when the agreement was reached basically about twelve days ago
Speaker 11: to set the top line appropriations for twenty four, he
Speaker 11: had one particular piece of language in a letter to
Speaker 11: his college which he said, and they will fight to
Speaker 11: include important policy writers in the House bills. At the
Speaker 11: same time, mister Schumer put out a statement saying, we
Speaker 11: will not accept any poison pills. We're going to see
Speaker 11: a fight over writers in these appropriation bills that could
Speaker 11: potentially put us into the position which I said, maybe
Speaker 11: another continuing resolution or a CR for the end of
Speaker 11: the year.
Speaker 4: Unbelievable. So we get this done.
Speaker 3: Presumably there's something we haven't addressed yet, and that's a
Speaker 3: potential deal on the border. We're spending a lot of
Speaker 3: plates right now for a Congress that can't seem to
Speaker 3: get out of bed in the morning here bill. But
Speaker 3: that meeting at the White House appeared to be at
Speaker 3: least not depressing. They came out saying relatively nice things
Speaker 3: because Speaker Johnson is not going to only adhere to
Speaker 3: HR two. At one point he said that was it
Speaker 3: the immigration bill that Republicans in the House already passed
Speaker 3: without a single Democrat.
Speaker 4: You're a creature of the Senate.
Speaker 3: How concerned is the House about getting jammed by what's
Speaker 3: going on next door? And will that deal broker dos
Speaker 3: presumably in the Senate even have a chance in the House.
Speaker 11: Well, I am a creature of the Senate, and yes,
Speaker 11: there are times when the Senate takes action without the
Speaker 11: involvement of the House deliberations and on this particular set
Speaker 11: of discussions had been going on. The House has not
Speaker 11: been involved and something is important as the border that
Speaker 11: affects everybody. And I do think that this is an
Speaker 11: issue that's going to come even if the Senate could
Speaker 11: put together and get an agreement in sixty votes to
Speaker 11: pass some immigration reform. Obviously, the Senate is working very
Speaker 11: hard to do and mister Schumer and mister Connor are
Speaker 11: on the same wavelength here. The House has not been involved,
Speaker 11: and the new Speaker is probably going to have a
Speaker 11: very difficult time of simply taking whatever it is that
Speaker 11: the Senate sends over. And is it fearful, quite frankly,
Speaker 11: of being jammed from that perspective, I am. I'm not
Speaker 11: a I don't follow the immigration issue as closely as
Speaker 11: due on some of the fiscal issues. But I am
Speaker 11: very concerned that there are House members and you just
Speaker 11: had a discussion as it relates to the former president's
Speaker 11: involvement here, that maybe they want there not to be
Speaker 11: an agreement so that this becomes a political issue this
Speaker 11: fall for re election purposes.
Speaker 6: I am.
Speaker 11: While the Senate seems to be on board and there
Speaker 11: seems to be some nice happy talk coming out out
Speaker 11: of the out of the White House yesterday, I think
Speaker 11: we are still a long way from any kind of
Speaker 11: an agreement on border issues, particularly on the issue as
Speaker 11: it relates to uh parole, perrole and the powers given
Speaker 11: to the president on parole.
Speaker 10: Well, Bill, we just have a few minutes left with you,
Speaker 10: but I'm glad you brought up the twenty twenty four
Speaker 10: election and its role in all of this. Considering that
Speaker 10: former President Trump posted on True Social I do not
Speaker 10: think we should do a border deal at all unless
Speaker 10: we get everything needed to shut down the invasion. I
Speaker 10: have no doubt our wonderful Speaker of the House, Mike Johnson,
Speaker 10: will only make a deal that is perfect on the border.
Speaker 10: And Bill, we know that Johnson and Trump talk frequently.
Speaker 10: How do you think about the former president in the scenario,
Speaker 10: I think.
Speaker 11: The former president. I think Republicans broadly should think about
Speaker 11: this very carefully as to what whether or not any
Speaker 11: kind of a next Congress, if the next even if
Speaker 11: the even if the Senate switches and the House may
Speaker 11: not switch, this may be the best opportunity for any
Speaker 11: kind of reform of the border in an interfuture. Because
Speaker 11: I had fear that a House made up of Democrats
Speaker 11: next year if they take over, which seems to be
Speaker 11: the prognosis right now, and even if the Senate was
Speaker 11: to become Republican, I do think that the opportunities for
Speaker 11: a border agreement is the best time is right now,
Speaker 11: as opposed to putting it off until next year. And
Speaker 11: by the way, that's too long anyway, we need to
Speaker 11: be dealing with this now.
Speaker 4: Bill.
Speaker 3: It's great to see you and appreciate the straight talk.
Speaker 3: Bill Hoagland at the Bipotters Policy Center from just next
Speaker 3: door here in Washington. We thank you for the insights
Speaker 3: as always, Kaylee, A lot of questions after a meeting
Speaker 3: that was supposed to bring answers.
Speaker 10: Yeah, that's right. We know that Speaker Johnson coming out
Speaker 10: of that meeting said the border has to be the
Speaker 10: top priority. Maybe it's a priority for the Biden administration
Speaker 10: as well, but so is Ukraine. And therein lies the
Speaker 10: red Oh true.
Speaker 3: Congressman Frenchhill's coming in next. We'll get this straight from
Speaker 3: a lawmaker who's in the middle of the action, the
Speaker 3: Republican from Arkansas. We'll be here next. On the fastest
Speaker 3: show in politics, This is Bloomberg.
Speaker 1: If you're listening to the Bloomberg sound on podcast, catch
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Speaker 1: Bloomberg eleven thirty.
Speaker 3: This is looking like a done deal, Kayley. The Senate's
Speaker 3: got the votes. Congressman french Hill is waiting right now
Speaker 3: for that bill to come across the Rotunda so they
Speaker 3: can vote on it in the House.
Speaker 4: Then everybody goes home before the snow. Don't be done.
Speaker 10: Well, we're not quite at the finish line, and a
Speaker 10: few members of the House we're trying to make some
Speaker 10: last minute changes in regard to attaching HR two or
Speaker 10: similar border security measures to this stop gap continuing resolution,
Speaker 10: and yet according to Speaker Johnson's office, that's a no go,
Speaker 10: no changes.
Speaker 4: That's kind of a big deal.
Speaker 3: I feel like you're going to look back at that
Speaker 3: as a moment when he said no to the Freedom
Speaker 3: Caucus and something actually got passed.
Speaker 4: But it's not for me to make that judgment.
Speaker 3: He's with us right now from the Rotunda and the
Speaker 3: Cannon House Office building, where all the big stuff happens.
Speaker 3: Congressman French Hill, the Republican from Arkansas.
Speaker 4: Great to see you, sir. You got your snowboots on.
Speaker 12: I'm ready. It's cold. It's colder in Arkansas than vis
Speaker 12: in the district Columbia. So we're trying to see if
Speaker 12: we can finish our work today.
Speaker 4: Well, it looks like you got it right.
Speaker 3: I mean, I'm expecting that this will arrive in the
Speaker 3: House and pass pretty easily based on what we're hearing.
Speaker 6: How about you, I think so.
Speaker 12: I think when you saw the cloture vote earlier in
Speaker 12: the week in the Senate, where overwhelmingly senators were ready
Speaker 12: to do this very short term extension to buy more
Speaker 12: time to get these bills written right, get the negotiations finished,
Speaker 12: and move the continuing resolution deadline from the nineteenth tomorrow
Speaker 12: to March first and March eighth. I think it's just
Speaker 12: where we find ourselves in Congress after wasting so much
Speaker 12: time inefficiently last fall in things like fighting about a
Speaker 12: spending number that we've already agreed to and trying to
Speaker 12: throw our speaker out. So that's where we find ourselves.
Speaker 10: When you talk about buying more time, more up time
Speaker 10: has been bought twice, a continuing resolution passed to the
Speaker 10: end of September, another in mid November. This will be
Speaker 10: the third. Are you confident that it will be the last?
Speaker 6: Well, of course I can't say that.
Speaker 12: I can't say it because people have squandered time so
Speaker 12: ineffectively over the past few months. We had the Speaker
Speaker 12: McCarthy effort to do this before the middle of November,
Speaker 12: before Thanksgiving, and instead of doing it, a small group
Speaker 12: of eight people threw the Speaker out of his job.
Speaker 12: And so then Chuck Schumer squandered the time between Thanksgiving
Speaker 12: and Christmas not continuing to move forward in the Senate
Speaker 12: on agreeing to the House spending levels or working on
Speaker 12: this appropriate supplemental appropriation very effectively. So, look, this is
Speaker 12: where we find ourselves. I hope we can get this
Speaker 12: work done. I know we can. We should be able
Speaker 12: to do it because we've agreed to the spending levels
Speaker 12: and now each of those appropriations committee subcommittee chairman will
Speaker 12: work on the policy. And this is just what's important
Speaker 12: to Republicans. We got the spending level that we can
Speaker 12: live with. Now we want to make sure that we
Speaker 12: get the policy changes that we want in each of
Speaker 12: those bills before March.
Speaker 4: First, let's talk of a border deal emerging.
Speaker 3: We saw the players at the White House yesterday, Congressman,
Speaker 3: the Big Four along with President Biden. There seemed to
Speaker 3: be some optimism coming out of that meeting. But I
Speaker 3: keep hearing that the House refuses to be jammed by
Speaker 3: the Senate and then it could be doa in your chamber.
Speaker 12: What do you think, hey, Joe, such a good question.
Speaker 12: I think the meeting at the White House was good
Speaker 12: for about four months in a row. President Biden reiterated
Speaker 12: that he's happy to change policy at the border and
Speaker 12: happy to work with Republicans on solutions. He keeps saying that,
Speaker 12: but we don't get anything on paper and get that negotiated.
Speaker 12: We've got a leader on this project, a frustrating, a
Speaker 12: frustrating project.
Speaker 6: James Langford, the Senator.
Speaker 12: From Oklahoma, is prying to put together a policy that
Speaker 12: cuts off this flow by telling President Biden to make
Speaker 12: these policy changes on asylum and parole particularly, that could
Speaker 12: cut as much as seventy percent of the flow. That's
Speaker 12: the kind of policy change House Republicans are waiting to
Speaker 12: see in writing.
Speaker 10: Well, you talk about getting things in writing, but the
Speaker 10: Senate seems more optimistic they're going to be able to
Speaker 10: do that soon. That was at least the message from
Speaker 10: Chuck Schumer yesterday. Once it is, and if the Senate
Speaker 10: were to pass this, what's its fate in the House.
Speaker 10: What is the House realistically going to be willing to
Speaker 10: vote for?
Speaker 12: Well, look, here's what I think a majority of House
Speaker 12: members want is concrete policy changes by the Biden administration
Speaker 12: on their southwest border policy.
Speaker 6: They could do.
Speaker 12: Many of those by executive action, but they have not.
Speaker 12: So President Biden in the conversation of the White House,
Speaker 12: offered to do some things by executive action and agree
Speaker 12: to other.
Speaker 6: Things in law with Congress. We needed to see that
Speaker 6: in writing lead in.
Speaker 12: We need to see how many Republican Senators get behind
Speaker 12: that effort to support it in the Senate, and I
Speaker 12: think that will really set the tone when that bill
Speaker 12: attached to funding for Ukraine, Israel, and Taiwan comes back
Speaker 12: to the House.
Speaker 3: We've got a couple of things, not just a government
Speaker 3: funding to deal with with the seasonal expirations here a congressman,
Speaker 3: we've talked about the renewal of PAISA, the warrantless spying
Speaker 3: program that is also up for renewal, and I'm wondering
Speaker 3: if that's going to get bogged down as well by
Speaker 3: the debates that are being had here.
Speaker 4: Nothing seems to have an easy path.
Speaker 12: Well, again, on the FAISO reform, Speaker Johnson has asked
Speaker 12: Chairman Mike Turner and Chairman Jim Jordan to put together
Speaker 12: where there's consensus on that. And let me remind you
Speaker 12: that the Senate Intelligence Committee and the House Intelligence Committee
Speaker 12: are fully on the same page for these reforms of
Speaker 12: the FBI reforms of PISA to protect Americans privacy but
Speaker 12: maintain our surveillance outside the US. Those reforms have by
Speaker 12: camera and bipartisan support. So Speaker Johnson has set a timeline.
Speaker 6: For Chairman Turner and Chairman Jordan.
Speaker 12: To reach that conclusion, and we need to pass that
Speaker 12: before April nineteenth.
Speaker 10: Speaking of things that you'd like to see passed in
Speaker 10: the House, Congressmen, you of course sit on the Financial
Speaker 10: Services Committee. You chaired the Subcommittee on Digital Assets, and
Speaker 10: last year you had success in passing two bills out
Speaker 10: of that committee related to cryptocurrencies. My understanding, according to
Speaker 10: a few reports, Congressmen, as you're shopping around some changes
Speaker 10: to that legislation. Could you detail that for us?
Speaker 12: Well, we had our what we call our Fit for
Speaker 12: Purpose for the twenty first Century Act that set up
Speaker 12: the regulatory framework that directs the SEC and the CFTC
Speaker 12: precisely what to do in the regulation and oversight for
Speaker 12: digital assets. This is good for innovators, good for American companies,
Speaker 12: good for consumers and investors.
Speaker 6: We made all the changes that came out of our
Speaker 6: more last July.
Speaker 12: We're now showing that to our colleagues on both sides
Speaker 12: of the aisle, and I think that bill is prepared
Speaker 12: to come to the floor when the Speaker and the
Speaker 12: Majority Leader are ready for it to be considered. The
Speaker 12: second bill that you reference, Kaylee, is the stable coin legislation.
Speaker 12: This is how to take a fiat currency like a
Speaker 12: dollar and have a dollar based stable coin to be
Speaker 12: used on a.
Speaker 6: Blockchain as a payment.
Speaker 12: That bill also we've worked with our Democratic colleagues, who
Speaker 12: has bipartisan support. We are trying to make final corrections
Speaker 12: to that to also get that to the floor, and
Speaker 12: we're just continuing those consultations. They've been constructive, they've been bipartisan.
Speaker 12: So I hope we finished that work soon and can
Speaker 12: get it also to the House floor, all.
Speaker 10: Right, And one more regulatory matter to ask you about,
Speaker 10: as I know you've been vocal about this in past hearings,
Speaker 10: the capital requirements that BOSEL three end game reform for banking.
Speaker 10: There's been some noise around that coming from the Federal
Speaker 10: Reserve in recent days. Michelle Bowman talking about how it
Speaker 10: might need to be changed for Waller. Her colleague was
Speaker 10: as well, we're actually going to be speaking with Michael Sue,
Speaker 10: the acting director of the OCC leader. Congressman, what would
Speaker 10: you like to tell him about how this regulation should
Speaker 10: change proposally.
Speaker 12: This is the basle endgame that affects capital for large
Speaker 12: financial institutions. But when you affect large institutions, you affect
Speaker 12: all four thousand commercial banks in our country. It has
Speaker 12: to be pro American competitiveness, not put us at a
Speaker 12: disadvantage when.
Speaker 6: We compete abroad.
Speaker 12: And it has to make sure it doesn't dislocate important
Speaker 12: business and consumer lending.
Speaker 6: Products in our country.
Speaker 12: Those are the things I would urge the regulators to
Speaker 12: be very careful about. That's why you've heard concerns from
Speaker 12: Governor Bowman, Governor Waller, others. And this was the comment
Speaker 12: period week came to a conclusion this year this week,
Speaker 12: and I'm going through all those to see what the
Speaker 12: best parts of the rule making and what are the
Speaker 12: parts that need serious change. And I think my colleagues
Speaker 12: and I are all folks on that for the next
Speaker 12: few weeks. We want to make sure the FED has
Speaker 12: the right capital structure for our institutions. But we don't
Speaker 12: want to make America less competitive, and we don't want
Speaker 12: to dislocate consumers and household and business borrowing needs. We
Speaker 12: need that in our economy for growth.
Speaker 4: Right Congressman, I want you to know we were channeling
Speaker 4: you over the weekend. In Iowa. It was twenty degrees
Speaker 4: below zero. There was a drifting snow on the you saw.
Speaker 3: I'm going to I can complain all day about it,
Speaker 3: and I'm going to stop down. But I remember the
Speaker 3: story that you told us about getting on the road.
Speaker 3: I think it was your lonely drive to Cedar Rapids.
Speaker 3: You almost didn't make it too, and we were thinking about, God,
Speaker 3: if french Hill made it, we can do it too.
Speaker 12: Worse than that, it was des Moines to Sioux City
Speaker 12: over a So let me tell you it's cold, but
Speaker 12: it's the American tradition. I'm glad you now have those
Speaker 12: for making it. Congratulations.
Speaker 4: I'm not even sure that's true, but I like the idea.
Speaker 3: Congressman Frenchhill, we thank you as always say hi to
Speaker 3: your college legs. There and Cannon sounds like a busy day, Kaylie.
Speaker 4: He knows because he's been there.
Speaker 10: Yeah, experienced it before he.
Speaker 4: Was in Congress.
Speaker 3: He was working as a surrogate and an organizer in Iowa.
Speaker 3: He's been there from the grassroots or the snow.
Speaker 10: I think our cold was colder than his cold, though
Speaker 10: it was. It was a record, a record, Congress. I
Speaker 10: know we were there when the record was set, Kaylee.
Speaker 4: They could never take that. Thanks for listening to the
Speaker 4: sound on podcast.
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Speaker 4: d C.
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