1 00:00:01,920 --> 00:00:06,200 Speaker 1: Live from our nation's capital. This is Bloomberg's sound On 2 00:00:07,520 --> 00:00:11,560 Speaker 1: talking about a huge issue here is investment in marginalized communities. 3 00:00:11,760 --> 00:00:14,760 Speaker 1: They want to deconstruct this package and cherry pick what 4 00:00:14,840 --> 00:00:18,160 Speaker 1: they like what they don't like. China is surgeon powered 5 00:00:18,200 --> 00:00:23,280 Speaker 1: with major investments. Bloomberg Sound On The Insiders, the influencers, 6 00:00:23,360 --> 00:00:26,880 Speaker 1: the insides. Biden has Thomas again and again that he 7 00:00:27,000 --> 00:00:30,479 Speaker 1: will unite the country. Who do you think Biden has 8 00:00:30,560 --> 00:00:35,040 Speaker 1: to watch in terms of moderate defectors. Infrastructure has always 9 00:00:35,080 --> 00:00:39,400 Speaker 1: been by part of them. Bloomberg Sound On on Bloomberg Radio. 10 00:00:41,200 --> 00:00:44,720 Speaker 1: It's Friday, it is five pm. Congratulations, you have made 11 00:00:44,720 --> 00:00:47,680 Speaker 1: it to the weekend. My name is Emily Wilkins. Your 12 00:00:47,760 --> 00:00:51,120 Speaker 1: host today, it has been an absolutely packed week for news. 13 00:00:51,120 --> 00:00:55,000 Speaker 1: Will be recapping President Biden's climate summit, catching up on infrastructure, 14 00:00:55,080 --> 00:00:57,840 Speaker 1: diving into the historic vote the House took this week 15 00:00:58,040 --> 00:01:01,760 Speaker 1: on DC Statehood. I am Emily Wilkins. If you've never 16 00:01:01,800 --> 00:01:03,600 Speaker 1: heard of me before, it is because this is my 17 00:01:03,800 --> 00:01:06,560 Speaker 1: very first time sitting in a host chair on sound On. 18 00:01:07,120 --> 00:01:09,960 Speaker 1: Very Luckily, I'm joined by two stalwarts of the show, 19 00:01:10,319 --> 00:01:14,120 Speaker 1: Bloomberg Politics contributors Jeannie s son Zano and Rick Davis. 20 00:01:14,440 --> 00:01:16,880 Speaker 1: We're just going to get right into it. Earlier today, 21 00:01:16,959 --> 00:01:21,240 Speaker 1: our colleague David Weston spoke with John Kerry, the Special 22 00:01:21,280 --> 00:01:26,040 Speaker 1: Presidential Envoy for Climate Change, to discuss President Biden's today 23 00:01:26,240 --> 00:01:30,399 Speaker 1: virtual Climate Summit and what he thought was accomplished. Here's 24 00:01:30,440 --> 00:01:33,400 Speaker 1: the sound on that. I mean, the world came together 25 00:01:33,440 --> 00:01:37,200 Speaker 1: in a rather extraordinary fashion for a virtual summit, with 26 00:01:37,319 --> 00:01:42,160 Speaker 1: President she and President Putin, Prime Minister Modi, President Macron, 27 00:01:42,240 --> 00:01:44,280 Speaker 1: the Chancellor of Germany and so on. I mean, you 28 00:01:44,360 --> 00:01:48,320 Speaker 1: had a global meeting at which more than fifty five 29 00:01:50,120 --> 00:01:54,600 Speaker 1: of global g d P committed to try to hold 30 00:01:54,640 --> 00:01:58,120 Speaker 1: the Earth's temperature increase to one point five degrees, which 31 00:01:58,160 --> 00:02:00,560 Speaker 1: is critical because that's what the scientist say we have 32 00:02:00,680 --> 00:02:04,760 Speaker 1: to do to avoid the worst consequences of climate and 33 00:02:04,760 --> 00:02:09,720 Speaker 1: and for anybody investing, with disclosure being talked about and 34 00:02:09,760 --> 00:02:13,919 Speaker 1: already in place in Europe and elsewhere, financial institutions are 35 00:02:13,919 --> 00:02:16,800 Speaker 1: going to increasingly being called on to be accountable for 36 00:02:16,840 --> 00:02:20,520 Speaker 1: their long term vision, for the investments that they're making 37 00:02:21,240 --> 00:02:24,239 Speaker 1: and the risk that is involved. So that's one thing. 38 00:02:24,880 --> 00:02:27,480 Speaker 1: In addition to that, you had an upping of ambition 39 00:02:27,919 --> 00:02:30,560 Speaker 1: among many nations. Japan stood up and said we're going 40 00:02:30,600 --> 00:02:34,640 Speaker 1: to reduce our emissions by you had a host of 41 00:02:34,720 --> 00:02:38,320 Speaker 1: countries say they're making some addition, they're going to try 42 00:02:38,320 --> 00:02:40,960 Speaker 1: and do more. They're gonna put out plans over the 43 00:02:41,000 --> 00:02:46,360 Speaker 1: course of the next months before the November Glasgow negotiation. UH. 44 00:02:46,400 --> 00:02:50,320 Speaker 1: And I think it's a very significant that everybody talked 45 00:02:50,320 --> 00:02:53,640 Speaker 1: about the crisis of climate so there's no avoiding it. 46 00:02:53,720 --> 00:02:56,320 Speaker 1: That's a global challenge. And that leads you to the 47 00:02:56,360 --> 00:02:59,200 Speaker 1: second part of your question, which is these banks and 48 00:03:00,200 --> 00:03:05,360 Speaker 1: financial institutions that are allocating a certain amount of investment 49 00:03:05,560 --> 00:03:10,680 Speaker 1: over the next years to climate investment, now that you 50 00:03:10,680 --> 00:03:14,280 Speaker 1: know we didn't. What we did was aggregate the amount 51 00:03:14,360 --> 00:03:16,519 Speaker 1: they've already been putting in, and some of them have 52 00:03:16,680 --> 00:03:19,280 Speaker 1: up the amount they're putting in. So you have Bank 53 00:03:19,280 --> 00:03:24,200 Speaker 1: of America and and UH City and others saying they're 54 00:03:24,200 --> 00:03:26,280 Speaker 1: gonna put about a trillion dollars over the course in 55 00:03:26,320 --> 00:03:29,680 Speaker 1: the next ten years minimum. That's a floor. And the 56 00:03:29,760 --> 00:03:33,640 Speaker 1: reason they're doing it is it's profitable. This is where 57 00:03:33,680 --> 00:03:37,720 Speaker 1: the marketplace is moving. There's an enormous interest in hydrogen 58 00:03:37,800 --> 00:03:43,880 Speaker 1: fuel potential, in storage, battery storage, in carbon capture. UH. 59 00:03:43,920 --> 00:03:46,520 Speaker 1: These are the technologies that are going to have to 60 00:03:46,560 --> 00:03:49,880 Speaker 1: go into place in order to avoid the worst consequences 61 00:03:49,920 --> 00:03:52,840 Speaker 1: of the climate crisis. And I think the marketplace is 62 00:03:52,880 --> 00:03:55,800 Speaker 1: already moving there. You've seen it move on coal. Coal 63 00:03:55,920 --> 00:04:00,720 Speaker 1: now more expensive than alternative and renewable. So I think 64 00:04:00,760 --> 00:04:04,000 Speaker 1: what we did was sort of aggregate what the marketplace 65 00:04:04,120 --> 00:04:06,480 Speaker 1: was already doing in a way that people see, WHOA, 66 00:04:06,920 --> 00:04:11,800 Speaker 1: there's four point one six trillion dollars from major banking institutions. 67 00:04:11,800 --> 00:04:14,160 Speaker 1: It is going to be investing in this sector. And 68 00:04:14,200 --> 00:04:19,039 Speaker 1: I think it's going to create even more investment in 69 00:04:19,200 --> 00:04:21,760 Speaker 1: that sector and others. And Mr Secretary of the President 70 00:04:21,800 --> 00:04:23,880 Speaker 1: President Biden really stepped up right at the very beginning 71 00:04:23,880 --> 00:04:27,080 Speaker 1: and said we're gonna have our greenhouse gas emissions compared 72 00:04:27,080 --> 00:04:30,600 Speaker 1: to two thousand and five by that helps. Perhaps we 73 00:04:30,760 --> 00:04:33,120 Speaker 1: established us as a leader in this area. Your job 74 00:04:33,120 --> 00:04:35,000 Speaker 1: in partners understands to go around the world as you 75 00:04:35,080 --> 00:04:37,120 Speaker 1: have been doing and working with other countries. As a 76 00:04:37,160 --> 00:04:39,440 Speaker 1: practical matter, You and I both know we're not gonna 77 00:04:39,440 --> 00:04:41,359 Speaker 1: be able to get done what we need without China, 78 00:04:41,400 --> 00:04:44,840 Speaker 1: without India. China did not make an additional commitments. Understand it. 79 00:04:44,960 --> 00:04:46,840 Speaker 1: India has promised to work with you but we don't 80 00:04:46,880 --> 00:04:49,440 Speaker 1: have specifics there when they turn to you and you 81 00:04:49,520 --> 00:04:51,039 Speaker 1: go to them, and they turn to you and say, 82 00:04:51,040 --> 00:04:53,880 Speaker 1: look at your industrial nation. You've gotten the benefit of 83 00:04:53,880 --> 00:04:56,040 Speaker 1: all this, all these years. For you now to impose 84 00:04:56,040 --> 00:04:58,800 Speaker 1: these sort of limitations on us holds us back. What 85 00:04:58,839 --> 00:05:03,000 Speaker 1: do you say about the fairness argument, Well, what what 86 00:05:03,000 --> 00:05:08,599 Speaker 1: one has to point out is that Earth, planet Earth, 87 00:05:09,240 --> 00:05:13,800 Speaker 1: and the atmosphere doesn't measure who began when. It doesn't 88 00:05:13,800 --> 00:05:18,279 Speaker 1: measure who who particularly is doing it now. It measures 89 00:05:18,279 --> 00:05:20,919 Speaker 1: the total amount of c O two. That's what the 90 00:05:20,960 --> 00:05:24,240 Speaker 1: impact is from. And so China has as much interest 91 00:05:24,760 --> 00:05:28,960 Speaker 1: in seeing us reduce these emissions and create an equilibrium 92 00:05:29,160 --> 00:05:32,000 Speaker 1: as we do. China is thirty percent of the world's 93 00:05:32,000 --> 00:05:36,400 Speaker 1: emissions were uh and if you add Europe, we've got 94 00:05:36,440 --> 00:05:40,440 Speaker 1: more than right there, of all the world's emissions, twenty 95 00:05:40,520 --> 00:05:45,480 Speaker 1: countries equal of all the emissions, those twenty countries are 96 00:05:45,480 --> 00:05:48,480 Speaker 1: going to have to step up and cut those emissions 97 00:05:48,560 --> 00:05:52,520 Speaker 1: at a rate commensurate with what the scientists are telling 98 00:05:52,600 --> 00:05:55,680 Speaker 1: us we need to do. This is not politics, it's 99 00:05:55,720 --> 00:05:59,440 Speaker 1: not ideology, it's it's you know, two and two is four. 100 00:06:00,080 --> 00:06:03,479 Speaker 1: Scientists are telling us. This is exactly what's happening, and 101 00:06:03,480 --> 00:06:06,159 Speaker 1: this is why it's happening. And if you don't reduce 102 00:06:06,240 --> 00:06:08,440 Speaker 1: by more, you're going to be paying a hell of 103 00:06:08,480 --> 00:06:12,240 Speaker 1: a lot more money to clean up afterwards. And witness 104 00:06:12,960 --> 00:06:17,159 Speaker 1: a few years ago we had three major hurricanes, Irma, Maria, 105 00:06:17,360 --> 00:06:22,000 Speaker 1: and Harvey, and they dropped. They found up doing something 106 00:06:22,040 --> 00:06:25,039 Speaker 1: like two hundred and sixty billion dollars or so of 107 00:06:25,120 --> 00:06:28,240 Speaker 1: damage that we paid out just to clean up after 108 00:06:28,279 --> 00:06:32,800 Speaker 1: the storms. So the the economists will tell you we've 109 00:06:32,800 --> 00:06:35,800 Speaker 1: reached a point in the climate crisis where it is 110 00:06:35,839 --> 00:06:40,000 Speaker 1: now more expensive not to do something than it is 111 00:06:40,080 --> 00:06:43,440 Speaker 1: to do the something. And so we need to be responsible. 112 00:06:43,480 --> 00:06:46,680 Speaker 1: We need to get this done because most people will 113 00:06:46,760 --> 00:06:50,840 Speaker 1: tell you it's existential. If you don't do that, they're 114 00:06:50,880 --> 00:06:55,440 Speaker 1: going to be profound, dramatic impacts on our planet beyond 115 00:06:55,520 --> 00:06:59,200 Speaker 1: what we've already seen in terms of fires, mud slides, 116 00:06:59,600 --> 00:07:03,479 Speaker 1: fly drought, melding of the ice caps rising at the 117 00:07:03,480 --> 00:07:08,440 Speaker 1: sea level. We're inviting disaster if we don't respond to this. 118 00:07:08,520 --> 00:07:12,400 Speaker 1: And and and in the response, David, there's a remarkable 119 00:07:12,440 --> 00:07:18,080 Speaker 1: amount of energy. In economic terms, there's a huge, really 120 00:07:18,640 --> 00:07:21,920 Speaker 1: exciting economic future on the other side of this. Transition, 121 00:07:22,360 --> 00:07:29,040 Speaker 1: which means building out transmission lines, a grid, deploying renewable portfolios, 122 00:07:29,120 --> 00:07:33,280 Speaker 1: chasing hydrogen fuel or battery storage, or any of these 123 00:07:33,320 --> 00:07:36,960 Speaker 1: other things. New products are going to come online, and 124 00:07:37,080 --> 00:07:39,120 Speaker 1: some of them are going to make an enormous difference 125 00:07:39,160 --> 00:07:41,680 Speaker 1: scenar ability to be able to meet this goal, Mr 126 00:07:41,720 --> 00:07:43,800 Speaker 1: Secretary you, of course, they are a very accomplished diphilant 127 00:07:43,800 --> 00:07:46,080 Speaker 1: over the years you were the Secretary of State. I 128 00:07:46,160 --> 00:07:49,440 Speaker 1: wonder how you prioritize the various issues. As you said, 129 00:07:49,440 --> 00:07:52,240 Speaker 1: this is a cataclysmic situation if we don't address it. 130 00:07:52,280 --> 00:07:53,640 Speaker 1: At the same time, if you look at a place 131 00:07:53,680 --> 00:07:55,800 Speaker 1: like China, there are those that say, look at we 132 00:07:55,840 --> 00:07:57,840 Speaker 1: need a lot of solar panels. Most were made out 133 00:07:57,840 --> 00:08:01,160 Speaker 1: in jeong Jang, which is made by weakers, which raise 134 00:08:01,480 --> 00:08:03,640 Speaker 1: human rights issues. Also a lot of coal being used. 135 00:08:03,760 --> 00:08:06,160 Speaker 1: How do you prioritize them? Is there a tradeoff between 136 00:08:06,200 --> 00:08:09,360 Speaker 1: the two? Is this a zero sum game? No, it 137 00:08:09,480 --> 00:08:11,800 Speaker 1: is not. It is absolutely not. And that is one 138 00:08:11,840 --> 00:08:15,200 Speaker 1: of the things President Biden took pains to try to 139 00:08:15,240 --> 00:08:18,160 Speaker 1: point out today in the session of the summit where 140 00:08:18,200 --> 00:08:21,560 Speaker 1: we had Bill Gates and other entrepreneurs talking about the 141 00:08:21,600 --> 00:08:26,040 Speaker 1: remarkable entrepreneurial activity that is being engaged in. We had 142 00:08:27,640 --> 00:08:31,240 Speaker 1: folks who are CEOs of companies and folks who are 143 00:08:31,280 --> 00:08:36,000 Speaker 1: involved in labor all together supporting the notion that there 144 00:08:36,000 --> 00:08:40,040 Speaker 1: are unbelievable number of jobs to be created in this transition. 145 00:08:40,440 --> 00:08:43,640 Speaker 1: I mean, look at the transition right now to electric vehicles. 146 00:08:44,320 --> 00:08:47,920 Speaker 1: The highest valued automobile company in the world, I think 147 00:08:48,000 --> 00:08:53,040 Speaker 1: still is Tesla makes one product electric vehicles. It is 148 00:08:53,040 --> 00:08:55,600 Speaker 1: the future. People are betting on that. They understand that, 149 00:08:56,080 --> 00:08:59,320 Speaker 1: and I see all the other companies are beginning to 150 00:08:59,400 --> 00:09:03,840 Speaker 1: chase it. Saydie's Volkswagen, Ford GM GM is announced that 151 00:09:03,920 --> 00:09:06,920 Speaker 1: by the are going to make any other car other 152 00:09:07,000 --> 00:09:10,840 Speaker 1: than an electric car. That is the future. And I think, 153 00:09:11,760 --> 00:09:14,240 Speaker 1: you know the countries that get their first you know 154 00:09:14,280 --> 00:09:17,679 Speaker 1: how market share works. You grabbed that early market share, 155 00:09:17,720 --> 00:09:20,000 Speaker 1: you've got something that could last year if you're smart, 156 00:09:20,040 --> 00:09:23,040 Speaker 1: for a long time. And and I think the President 157 00:09:23,080 --> 00:09:26,360 Speaker 1: wants to make sure that America is grabbing its share 158 00:09:26,360 --> 00:09:30,200 Speaker 1: of the new technologies of the innovation, uh and of 159 00:09:30,280 --> 00:09:35,839 Speaker 1: this future. So much there that was my colleague David 160 00:09:35,880 --> 00:09:40,520 Speaker 1: Weston with John Kerry, the Special Presidential Envoy for Climate 161 00:09:41,320 --> 00:09:43,920 Speaker 1: Janine Rick. I know, we just heard a lot there 162 00:09:43,960 --> 00:09:46,920 Speaker 1: from Secretary Kerry, but I wanted to focus on the 163 00:09:46,920 --> 00:09:49,240 Speaker 1: amount of faith that he has really put in the 164 00:09:49,280 --> 00:09:53,680 Speaker 1: marketplace and in the marketplaces role for bringing about change 165 00:09:54,000 --> 00:09:56,640 Speaker 1: in the direction of acting on climate change. I mean, 166 00:09:56,760 --> 00:09:59,320 Speaker 1: he told David today that's become more expensive to not 167 00:09:59,480 --> 00:10:02,680 Speaker 1: act on climate change and that corporations are going to 168 00:10:02,720 --> 00:10:06,079 Speaker 1: be sort of leading in the private sector rather than governments. 169 00:10:06,720 --> 00:10:08,720 Speaker 1: Is he right? I mean, is it going to be 170 00:10:08,760 --> 00:10:11,520 Speaker 1: the private sector that's going to wind up really leading 171 00:10:11,640 --> 00:10:17,319 Speaker 1: everyone into a future with more renewable energy. Well, Emily, 172 00:10:17,400 --> 00:10:19,360 Speaker 1: let me jump in and first of all, thank you 173 00:10:19,400 --> 00:10:22,160 Speaker 1: for hosting today. This is great to have you on board. 174 00:10:22,200 --> 00:10:24,360 Speaker 1: It's uh, it's wonderful to have you as part of 175 00:10:24,360 --> 00:10:26,840 Speaker 1: the sound on team. UH. And and I would say, 176 00:10:27,040 --> 00:10:29,560 Speaker 1: you know, he laid out a very good carrot and 177 00:10:29,640 --> 00:10:33,599 Speaker 1: stick approach to where they think UH private investment is 178 00:10:33,600 --> 00:10:36,040 Speaker 1: going to be. He talked about the need for, you know, 179 00:10:36,160 --> 00:10:39,600 Speaker 1: disclosure by financial institutions on the risks inherent with climate 180 00:10:39,960 --> 00:10:41,959 Speaker 1: you know, people are going to have to start talking 181 00:10:42,000 --> 00:10:45,040 Speaker 1: about that in their annual reports and in their disclosures. 182 00:10:45,080 --> 00:10:48,040 Speaker 1: But he also talked about a trillion dollars of investment 183 00:10:48,080 --> 00:10:53,080 Speaker 1: capital going into places like hydrogen and batteries. He took 184 00:10:53,080 --> 00:10:55,439 Speaker 1: it a little further and got into Tesla, and I 185 00:10:55,640 --> 00:10:58,280 Speaker 1: would actually add to him, not only is is Elon 186 00:10:58,400 --> 00:11:02,559 Speaker 1: Muskin building electric cars and batteries for houses even, but 187 00:11:02,880 --> 00:11:07,120 Speaker 1: he's also got a major solar panel business and uh 188 00:11:07,160 --> 00:11:09,520 Speaker 1: and has really committed to this economy and and look 189 00:11:09,520 --> 00:11:12,640 Speaker 1: how well he's done. So I think as a part 190 00:11:12,679 --> 00:11:15,599 Speaker 1: of this overall E s G investment strategy, where E 191 00:11:15,840 --> 00:11:18,960 Speaker 1: is environment, I think you see a lot of businesses 192 00:11:19,040 --> 00:11:22,000 Speaker 1: now clamoring to find a way to get into this 193 00:11:22,000 --> 00:11:25,360 Speaker 1: this sector. And Genny, I know we've only got a 194 00:11:25,400 --> 00:11:28,559 Speaker 1: couple of seconds here of well, actually, how about this. 195 00:11:28,679 --> 00:11:30,160 Speaker 1: We're going to get back to you as soon as 196 00:11:30,160 --> 00:11:32,000 Speaker 1: we get back from the break. I want to continue 197 00:11:32,040 --> 00:11:35,319 Speaker 1: this conversation on climate, such a big thing this week 198 00:11:35,600 --> 00:11:38,480 Speaker 1: we're coming up. We're going to continue looking into climate 199 00:11:38,720 --> 00:11:41,680 Speaker 1: and talk about infrastructure as well as that ever crucial 200 00:11:41,760 --> 00:11:51,080 Speaker 1: DC statehood vote. Stay with us. This is Bloomberg sound 201 00:11:51,160 --> 00:11:58,079 Speaker 1: On on Bloomberg Radio. I'm Emily Wilkins, along with Bloomberg 202 00:11:58,120 --> 00:12:02,960 Speaker 1: Politics contributors Genie Sonzano and Rick Davis. Genie, I know 203 00:12:03,080 --> 00:12:05,120 Speaker 1: that when we left off for that commercial break. We 204 00:12:05,160 --> 00:12:08,480 Speaker 1: were just breaking down John Kerry's analysis of the Climate 205 00:12:08,559 --> 00:12:10,520 Speaker 1: change Summit. So I want to come to you. I 206 00:12:10,559 --> 00:12:13,320 Speaker 1: want to get your thoughts, you know, for this summit, 207 00:12:13,400 --> 00:12:16,839 Speaker 1: it was really supposed to be President Biden's big moment 208 00:12:16,920 --> 00:12:20,360 Speaker 1: on the global stage to really say, hey, America's back, 209 00:12:20,440 --> 00:12:24,960 Speaker 1: America is ready to be a leader again on climate change. Jennie. 210 00:12:25,440 --> 00:12:28,760 Speaker 1: Was he successful? It's so good to talk to you, 211 00:12:28,800 --> 00:12:32,079 Speaker 1: Emily on this Friday. And you know, I do think 212 00:12:32,120 --> 00:12:35,880 Speaker 1: he achieved that goal. I do think President Biden deserves 213 00:12:35,920 --> 00:12:38,319 Speaker 1: a lot of credit for doing this within his first 214 00:12:38,600 --> 00:12:43,079 Speaker 1: you know, ninety plus days in office, reasserting, as you said, 215 00:12:43,240 --> 00:12:46,280 Speaker 1: the United States leadership and commitment on this issue of 216 00:12:46,360 --> 00:12:49,360 Speaker 1: climate change. And that is a big step forward and 217 00:12:49,480 --> 00:12:52,320 Speaker 1: quite a change from where we were in the last 218 00:12:52,360 --> 00:12:56,200 Speaker 1: four years. That said, there are also a lot of 219 00:12:56,320 --> 00:13:00,280 Speaker 1: challenges here. We're talking in terms of the premises he's 220 00:13:00,360 --> 00:13:04,959 Speaker 1: making about an enormous, sweeping transformation of the US economy 221 00:13:05,120 --> 00:13:09,880 Speaker 1: and society, and there's also real questions about if President 222 00:13:09,920 --> 00:13:13,760 Speaker 1: Biden has the power the authority legally to do what 223 00:13:13,800 --> 00:13:16,520 Speaker 1: he's promised to do. We're starting to hear and I 224 00:13:16,559 --> 00:13:19,680 Speaker 1: know you hear this inklings that he's going to have 225 00:13:19,760 --> 00:13:22,520 Speaker 1: to make an end run around that Constitution because of 226 00:13:22,559 --> 00:13:24,720 Speaker 1: course he may not be able to get through what 227 00:13:24,760 --> 00:13:26,880 Speaker 1: he wants to get through and two with a two 228 00:13:26,920 --> 00:13:30,360 Speaker 1: thirds vote in the Senate. So a lot of questions remain. 229 00:13:30,520 --> 00:13:33,719 Speaker 1: But I do think in terms of reasserting our leadership 230 00:13:33,800 --> 00:13:37,280 Speaker 1: on this and as David and and and Secretary carry 231 00:13:37,280 --> 00:13:40,480 Speaker 1: Worth talking about getting the rest of the world in 232 00:13:40,520 --> 00:13:44,160 Speaker 1: a conversation, I think a big step forward here. I 233 00:13:44,200 --> 00:13:46,000 Speaker 1: think a lot is going to depend on what happens 234 00:13:46,000 --> 00:13:49,560 Speaker 1: in November and in Scotland at this point. One thing 235 00:13:49,600 --> 00:13:52,720 Speaker 1: I found really interesting about the Climate Summit today is 236 00:13:52,720 --> 00:13:55,920 Speaker 1: that we saw this pivot from the President. At the end, 237 00:13:56,280 --> 00:13:59,400 Speaker 1: he was less warning about climate change and sort of 238 00:13:59,440 --> 00:14:01,880 Speaker 1: the dangerous of what's going to happen if it's not addressed, 239 00:14:02,200 --> 00:14:04,840 Speaker 1: and he then changed sort of looking at the opportunity 240 00:14:05,120 --> 00:14:08,640 Speaker 1: that comes with climate change. And we have a little 241 00:14:08,640 --> 00:14:12,240 Speaker 1: bit of sound on this him talking about the importance 242 00:14:12,440 --> 00:14:16,600 Speaker 1: for American workers going transitioning from the fossil fuel industries 243 00:14:16,760 --> 00:14:20,120 Speaker 1: to a greener future. Let's listen to that sound. As 244 00:14:20,160 --> 00:14:24,480 Speaker 1: we transition to a clean energy future, we must ensure 245 00:14:24,520 --> 00:14:28,320 Speaker 1: that workers who have thrived in yesterday's and today's industries 246 00:14:28,720 --> 00:14:33,520 Speaker 1: have as brighted tomorrow in the new industries. Rick, I'm 247 00:14:33,520 --> 00:14:35,960 Speaker 1: wondering if you can weigh in a little bit on that. 248 00:14:36,120 --> 00:14:37,920 Speaker 1: I mean, I feel like this is a message that 249 00:14:37,960 --> 00:14:40,680 Speaker 1: we've been hearing for some time now that the future 250 00:14:40,720 --> 00:14:43,680 Speaker 1: and that jobs it's going to be in these renewable energies. 251 00:14:44,200 --> 00:14:47,040 Speaker 1: How much progress has the US realistically made on this 252 00:14:47,120 --> 00:14:49,920 Speaker 1: in the previous a decade and how much can we realistic, 253 00:14:50,040 --> 00:14:54,080 Speaker 1: realistically expect going forward. Thanks, Emily, and I think you're 254 00:14:54,160 --> 00:14:56,000 Speaker 1: you've hit right on. I mean, how much of this 255 00:14:56,080 --> 00:14:58,000 Speaker 1: is going to happen without a government mandate? And then 256 00:14:58,000 --> 00:14:59,720 Speaker 1: how much is the government going to have to either 257 00:15:00,480 --> 00:15:04,040 Speaker 1: uh force or cajole out of corporate America to get 258 00:15:04,040 --> 00:15:06,320 Speaker 1: them on the right track. Certainly, in the last four 259 00:15:06,400 --> 00:15:09,680 Speaker 1: years during the Trump administration, we took a big step backwards. 260 00:15:10,040 --> 00:15:13,880 Speaker 1: Any effort to try and spur renewable energy, uh you know, 261 00:15:14,040 --> 00:15:16,480 Speaker 1: a more efficient electrical grids, things like that were put 262 00:15:16,520 --> 00:15:18,840 Speaker 1: on hold. We kind of you know, talked about doing 263 00:15:18,880 --> 00:15:23,360 Speaker 1: other things and and and actually reducing pressure on corporate America. 264 00:15:23,440 --> 00:15:26,080 Speaker 1: But but I think corporate America has seen a light UH. 265 00:15:26,360 --> 00:15:29,920 Speaker 1: More and more companies are announcing, as pointed out by 266 00:15:30,040 --> 00:15:33,720 Speaker 1: UH former Secretary Kerry Uh, that they're going to like 267 00:15:33,800 --> 00:15:37,400 Speaker 1: automobile companies going to e vs UM. More and more 268 00:15:37,440 --> 00:15:41,280 Speaker 1: green energy is being developed offshore wind UM. I think 269 00:15:41,360 --> 00:15:43,800 Speaker 1: that it's the kind of thing where the government needs 270 00:15:43,800 --> 00:15:46,440 Speaker 1: to set up pace. They need to set US standard. 271 00:15:46,600 --> 00:15:48,680 Speaker 1: And Biden has done a good job in the last 272 00:15:48,680 --> 00:15:53,480 Speaker 1: two days of reasserting as as Genie said, are American 273 00:15:53,640 --> 00:15:57,680 Speaker 1: dominance in this issue and then let corporate America get 274 00:15:57,680 --> 00:15:59,840 Speaker 1: the message and start following suit. And I think it's 275 00:15:59,840 --> 00:16:03,400 Speaker 1: in their economic self interests UH to do that. I 276 00:16:03,440 --> 00:16:07,120 Speaker 1: think that e s g. Those kinds of programs that 277 00:16:07,160 --> 00:16:10,040 Speaker 1: companies can put into effect can help their balance sheet, 278 00:16:10,080 --> 00:16:13,520 Speaker 1: not hurt it. Well, Ricky kind of mentioned something interesting there. 279 00:16:13,560 --> 00:16:17,120 Speaker 1: I mean, as we're talking about corporations kind of beginning 280 00:16:17,160 --> 00:16:21,600 Speaker 1: to move towards taking action on climate change, what are 281 00:16:21,640 --> 00:16:24,680 Speaker 1: we going to see the same from our lawmakers, notably 282 00:16:24,800 --> 00:16:27,040 Speaker 1: from Republicans. I mean, I know a lot of them 283 00:16:27,080 --> 00:16:30,160 Speaker 1: represent districts that have jobs that are tied to coal 284 00:16:30,280 --> 00:16:33,360 Speaker 1: and other fossil fuels, But when are they going to 285 00:16:33,400 --> 00:16:36,000 Speaker 1: sort of feel the tug of these companies and might 286 00:16:36,040 --> 00:16:39,240 Speaker 1: have to start shifting their policies and how they talk 287 00:16:39,280 --> 00:16:42,200 Speaker 1: about climate change. You know, it is interesting you you 288 00:16:42,280 --> 00:16:44,480 Speaker 1: point that out. I mean, you know, they're they're the 289 00:16:44,560 --> 00:16:47,920 Speaker 1: constituencies around coal in America have been getting smaller as 290 00:16:48,040 --> 00:16:50,600 Speaker 1: coal has had a smaller and smaller footprint in our 291 00:16:50,680 --> 00:16:53,320 Speaker 1: energy grid, almost to the point where it's it's got 292 00:16:53,360 --> 00:16:56,960 Speaker 1: no real power other than the unions associated with with 293 00:16:57,000 --> 00:16:59,560 Speaker 1: coal miners. And that's really a democratic function, not a 294 00:16:59,600 --> 00:17:02,120 Speaker 1: republic and one. But Republicans have been very slow to 295 00:17:02,160 --> 00:17:05,320 Speaker 1: the table. I can remember working with John McCain and 296 00:17:05,400 --> 00:17:07,680 Speaker 1: Joe Lieberman on the very first cap and trade bill, 297 00:17:08,080 --> 00:17:10,080 Speaker 1: and we had quite a bit of Republican support in 298 00:17:10,080 --> 00:17:12,520 Speaker 1: those days. And since the cap and trade has become 299 00:17:12,560 --> 00:17:16,159 Speaker 1: a horrible term, uh, politically to use. And so what 300 00:17:16,240 --> 00:17:18,680 Speaker 1: will it take Republicans to to get going. I think 301 00:17:18,720 --> 00:17:21,280 Speaker 1: it's going to be their constituents, um more and more. 302 00:17:21,600 --> 00:17:26,560 Speaker 1: The pressure is not going to come to Republican officeholders 303 00:17:26,640 --> 00:17:29,480 Speaker 1: by corporations. I think they are going to do whatever 304 00:17:29,520 --> 00:17:32,520 Speaker 1: they think is in their self interests. But as constituents 305 00:17:32,560 --> 00:17:36,280 Speaker 1: see things happening in their own communities, uh, they're gonna say, hey, look, 306 00:17:36,280 --> 00:17:38,360 Speaker 1: we've got to get something done about this. And they 307 00:17:38,359 --> 00:17:41,800 Speaker 1: are informed by what leaders like Biden and carry are doing, 308 00:17:41,880 --> 00:17:44,879 Speaker 1: because if you don't point out the problem to them, 309 00:17:44,920 --> 00:17:47,600 Speaker 1: they're not going to understand that they need solutions supported 310 00:17:47,600 --> 00:17:50,439 Speaker 1: by their Republican members of Congress. Absolutely, and I know 311 00:17:50,480 --> 00:17:53,240 Speaker 1: we've seen a couple of Republicans Lindsey Graham going ahead 312 00:17:53,240 --> 00:17:55,680 Speaker 1: and saying that climate change is human cause. Well, look, 313 00:17:55,720 --> 00:17:57,879 Speaker 1: we still got more coming up. We still have that 314 00:17:58,000 --> 00:18:00,479 Speaker 1: DC statehood vote that we are going to talk about. 315 00:18:00,680 --> 00:18:04,960 Speaker 1: It's coming up next. Please stay with us. I'm Emily Wilkins. 316 00:18:04,960 --> 00:18:13,000 Speaker 1: This is Bloomberg broadcasting live from our nation's capital, Bloomberg 317 00:18:14,280 --> 00:18:18,560 Speaker 1: to New York, Bloomberg eleven, Frio to San Francisco, Bloomberg 318 00:18:18,680 --> 00:18:22,440 Speaker 1: nine sixty to the country, Sirius XM Channel one nine 319 00:18:23,160 --> 00:18:26,399 Speaker 1: and around the globe, the Bloomberg Business app and Bloomberg 320 00:18:26,480 --> 00:18:33,200 Speaker 1: Radio dot Com. This is Bloomberg's Sound. I'm Emily Wilkins. 321 00:18:33,280 --> 00:18:36,600 Speaker 1: Coming up, we hear from DC's non voting but still 322 00:18:36,640 --> 00:18:41,000 Speaker 1: standing representatives Eleanor ort Nolms Gnomes on an historic vote 323 00:18:41,040 --> 00:18:45,200 Speaker 1: this week on DC statehood. Emily Wilkins along with Bloomberg 324 00:18:45,240 --> 00:18:50,159 Speaker 1: Politics contributors Jamie schon Zano and Rick Davis. Earlier today, 325 00:18:50,320 --> 00:18:53,720 Speaker 1: our colleague David Weston spoke to Washington d CS delegate 326 00:18:53,760 --> 00:18:58,600 Speaker 1: to the United States House of Representatives, Congresswoman Eleanor Holmes Norton, 327 00:18:58,720 --> 00:19:02,280 Speaker 1: about legislation us by the House this week that would 328 00:19:02,280 --> 00:19:06,800 Speaker 1: make the District of Columbia the fifty feet state of 329 00:19:06,840 --> 00:19:10,399 Speaker 1: the Union. David asked, Congresswoman, what's at stake for the 330 00:19:10,440 --> 00:19:14,680 Speaker 1: residents of the district. We have the sound I'm a 331 00:19:14,800 --> 00:19:18,440 Speaker 1: third generation Washington in and nobody in on the Holmes 332 00:19:18,520 --> 00:19:22,600 Speaker 1: family has ever had equal rights. Uh, and my constituents, 333 00:19:23,280 --> 00:19:27,200 Speaker 1: who have been in the Union for two twenty years 334 00:19:27,240 --> 00:19:29,760 Speaker 1: haven't had equal rights. So what is at stake is 335 00:19:29,800 --> 00:19:33,640 Speaker 1: to give the district the same representation in the Congress 336 00:19:33,680 --> 00:19:38,240 Speaker 1: that every other state, smallest, largest, that every other state has. 337 00:19:38,400 --> 00:19:42,320 Speaker 1: We're getting close to it because Democrats control the House, 338 00:19:42,359 --> 00:19:46,480 Speaker 1: Senate and the Presidency. Well that's an interesting point. When 339 00:19:46,520 --> 00:19:49,200 Speaker 1: you get over the Senate side, they have these pesky rules, 340 00:19:49,240 --> 00:19:52,919 Speaker 1: things like filibuster rules. They need sixty votes. Is it 341 00:19:52,960 --> 00:19:54,600 Speaker 1: clear to you that they're not going to have to 342 00:19:54,600 --> 00:19:57,760 Speaker 1: get past the filibuster to get this done well. It's 343 00:19:57,760 --> 00:20:00,919 Speaker 1: clearer than ever because the reason that Momocrats got control 344 00:20:01,000 --> 00:20:04,760 Speaker 1: of the Senate in the first place is because Republicans 345 00:20:04,760 --> 00:20:10,040 Speaker 1: filipbustered everything and got nothing done. So the people gave 346 00:20:10,119 --> 00:20:15,920 Speaker 1: the Senate two Democrats, and Democrats held up organizing the 347 00:20:15,960 --> 00:20:20,359 Speaker 1: Senate over the issue of filibusters because they recognized that 348 00:20:20,400 --> 00:20:23,320 Speaker 1: if they didn't do something about it, they'd lose the 349 00:20:23,359 --> 00:20:27,360 Speaker 1: Senate as well. Now the fellow busters so far has 350 00:20:27,440 --> 00:20:32,440 Speaker 1: been preserved. But you will see that during this pandemic 351 00:20:32,520 --> 00:20:35,639 Speaker 1: they were have been able to get important bills, including 352 00:20:35,720 --> 00:20:41,159 Speaker 1: the the bill that was most important past uh. And 353 00:20:41,359 --> 00:20:45,480 Speaker 1: it gives me great hope that we will add Democratic 354 00:20:45,560 --> 00:20:49,320 Speaker 1: senators and that we are on our way to becoming 355 00:20:49,359 --> 00:20:52,240 Speaker 1: the fifty first state. So we have a viewer writing in, 356 00:20:52,359 --> 00:20:54,040 Speaker 1: and I think it's worth asking because it gives you 357 00:20:54,080 --> 00:20:56,320 Speaker 1: an opportunity to explain something to people. The viewer says, 358 00:20:56,560 --> 00:21:00,320 Speaker 1: why don't you just join Virginia or joined Maryland. Well, 359 00:21:00,320 --> 00:21:02,880 Speaker 1: you can't join Virginia because the part of the district 360 00:21:02,960 --> 00:21:08,040 Speaker 1: that Virginia gave they took back. In terms of Maryland, 361 00:21:08,160 --> 00:21:11,480 Speaker 1: we are left with the Maryland portion of the district 362 00:21:11,480 --> 00:21:15,400 Speaker 1: of Columbia but you can't just give it back to Maryland. 363 00:21:15,440 --> 00:21:20,480 Speaker 1: Maryland gave it in perpetuity to form the nation's capital, 364 00:21:21,240 --> 00:21:26,840 Speaker 1: and both of the Senators favor statehood, and all of 365 00:21:26,920 --> 00:21:32,600 Speaker 1: the representatives except the sole Republican favor our statehood bill. 366 00:21:33,440 --> 00:21:35,400 Speaker 1: So all that's left is to give it to us, 367 00:21:35,760 --> 00:21:39,159 Speaker 1: to give it to the nation. So if I'm a 368 00:21:39,240 --> 00:21:41,840 Speaker 1: resident of District Columbia, as you say, your family has 369 00:21:41,840 --> 00:21:45,000 Speaker 1: been for three generations now, and you got the statehood tomorrow, 370 00:21:45,119 --> 00:21:48,960 Speaker 1: what difference would it make in my life? The greatest 371 00:21:49,000 --> 00:21:51,200 Speaker 1: difference it would make is not that I would get 372 00:21:51,240 --> 00:21:53,199 Speaker 1: the final vote on the House floor after all our 373 00:21:53,280 --> 00:21:56,720 Speaker 1: voting committee now and have all the rights except that 374 00:21:56,840 --> 00:22:00,560 Speaker 1: final right on the House floor. The most importan difference 375 00:22:00,600 --> 00:22:04,040 Speaker 1: it would mean that the district would have two senators. 376 00:22:04,080 --> 00:22:07,480 Speaker 1: As it is, I passed bills in the House. In fact, 377 00:22:07,520 --> 00:22:12,159 Speaker 1: I've been voted last year the most productive House member. 378 00:22:12,320 --> 00:22:16,119 Speaker 1: But I can't just hand the bill off to two senators. 379 00:22:16,160 --> 00:22:18,520 Speaker 1: I've got to go over there and find find allies. 380 00:22:19,480 --> 00:22:23,040 Speaker 1: Fortunately I have been able to often find allies. But 381 00:22:23,160 --> 00:22:24,919 Speaker 1: what it would mean that the district is that we 382 00:22:24,960 --> 00:22:27,600 Speaker 1: wouldn't have to find allies, would have our own senators 383 00:22:27,640 --> 00:22:30,280 Speaker 1: as well, and take us back to January six, something 384 00:22:30,280 --> 00:22:32,800 Speaker 1: that's etched on all of our minds. It was horrific 385 00:22:32,840 --> 00:22:35,840 Speaker 1: to watch that attack on the capitol. If the District 386 00:22:35,880 --> 00:22:39,119 Speaker 1: of Columbia or the Douglas Commonwealth had been a state 387 00:22:39,160 --> 00:22:41,320 Speaker 1: at that time, would it have made a difference in 388 00:22:41,359 --> 00:22:44,520 Speaker 1: the response to that invasion of the capital, Well, I 389 00:22:44,560 --> 00:22:48,600 Speaker 1: think it would have been. However, I should mention that 390 00:22:49,119 --> 00:22:52,120 Speaker 1: the reason is that we would have had control over 391 00:22:52,160 --> 00:22:56,000 Speaker 1: our own national guard. And then President Trump refused to 392 00:22:56,040 --> 00:22:59,840 Speaker 1: call out the national guard. Every state has control overs 393 00:23:00,040 --> 00:23:03,760 Speaker 1: national guard, but I should say that that doesn't even 394 00:23:03,760 --> 00:23:06,280 Speaker 1: take statehood. I have a bill and expected to be 395 00:23:06,359 --> 00:23:09,720 Speaker 1: passed this session that would give the district control over 396 00:23:09,800 --> 00:23:13,000 Speaker 1: its national guard. It would have met a tremendous difference 397 00:23:13,680 --> 00:23:17,399 Speaker 1: and the damage to the capital and in the outbreak 398 00:23:17,880 --> 00:23:21,479 Speaker 1: itself if the district could have called out its national 399 00:23:21,480 --> 00:23:24,160 Speaker 1: guard instead of waiting for the president who had provoked 400 00:23:24,880 --> 00:23:27,200 Speaker 1: the insurrection in the first place, to call it out. 401 00:23:29,200 --> 00:23:33,440 Speaker 1: That was my colleague David Weston with Congresswoman Eleanor Holmes Norton, 402 00:23:34,119 --> 00:23:38,240 Speaker 1: Jennie Sanz. No, let's get real here. This debate around 403 00:23:38,480 --> 00:23:42,199 Speaker 1: d C statehood. How much of it is about voting 404 00:23:42,280 --> 00:23:46,680 Speaker 1: rights and representation for the seven hundred twelve thousand residents 405 00:23:46,680 --> 00:23:49,320 Speaker 1: of DC more than the state of Wyoming, I should mention, 406 00:23:49,840 --> 00:23:53,399 Speaker 1: And how much is this about those two additional US 407 00:23:53,480 --> 00:23:57,960 Speaker 1: senators that would almost certainly be two additional Democratic Senators 408 00:23:58,359 --> 00:24:00,600 Speaker 1: that would get to join the Senate should d C 409 00:24:00,760 --> 00:24:05,520 Speaker 1: become a state. Emily, it's the exact question that you 410 00:24:05,560 --> 00:24:08,760 Speaker 1: can have to ask people, and you hear from Republicans 411 00:24:08,800 --> 00:24:12,440 Speaker 1: one thing and from Democrats something else. So Republicans tell 412 00:24:12,480 --> 00:24:15,760 Speaker 1: you this is not about equal representation, but it is 413 00:24:15,800 --> 00:24:19,200 Speaker 1: a real power grab by the Democrats to get one 414 00:24:19,240 --> 00:24:22,879 Speaker 1: representative and two senators on their side. And Democrats come 415 00:24:22,920 --> 00:24:26,880 Speaker 1: back and say, no, it's about disenfranchisement that disproportionately has 416 00:24:26,920 --> 00:24:30,399 Speaker 1: impacted people of color. And to top it off, what 417 00:24:30,560 --> 00:24:33,840 Speaker 1: happened on January six, we heard David Weston asked um 418 00:24:34,000 --> 00:24:37,280 Speaker 1: asked the delegate Norton about that and also the pandemic 419 00:24:37,680 --> 00:24:40,760 Speaker 1: where d C did not get the funding that it 420 00:24:40,840 --> 00:24:44,359 Speaker 1: would have if it was a state. And so you know, 421 00:24:44,480 --> 00:24:47,280 Speaker 1: it depends on who you ask. Is the short answer 422 00:24:47,320 --> 00:24:50,919 Speaker 1: to this question, and what some Republicans like, some of 423 00:24:50,920 --> 00:24:53,960 Speaker 1: the more moderate Republicans are saying, why not just give 424 00:24:54,359 --> 00:24:56,760 Speaker 1: nor in voting rights? Why not just give her a 425 00:24:56,880 --> 00:24:59,400 Speaker 1: voice instead of make this a state. In other words, 426 00:24:59,400 --> 00:25:01,800 Speaker 1: they're trying to find a middle ground. But of course 427 00:25:01,920 --> 00:25:05,919 Speaker 1: that's something that Democrats do not favor. And let's not 428 00:25:05,960 --> 00:25:08,760 Speaker 1: forget they Democrats passed this on a party line boat 429 00:25:09,000 --> 00:25:11,600 Speaker 1: last year, did it once again this year, but it 430 00:25:11,720 --> 00:25:14,840 Speaker 1: is essentially dead on arrival in the Senate because they 431 00:25:14,880 --> 00:25:17,639 Speaker 1: need ten Republicans to go along with it. There's no 432 00:25:17,760 --> 00:25:20,119 Speaker 1: question that they don't have that support in the Senate, 433 00:25:20,280 --> 00:25:22,760 Speaker 1: and there's even some Democrats who might not support it 434 00:25:22,800 --> 00:25:25,520 Speaker 1: as well. Right, this is the first time that House 435 00:25:25,640 --> 00:25:28,600 Speaker 1: members have passed the DC statehood bill. They have a 436 00:25:28,680 --> 00:25:32,239 Speaker 1: Democrat controlled Senate, but it doesn't matter. It's still not 437 00:25:32,280 --> 00:25:35,080 Speaker 1: going anywhere. At this point, we're coming up. We're going 438 00:25:35,160 --> 00:25:37,359 Speaker 1: ahead to a commercial break, but we have to cover 439 00:25:37,480 --> 00:25:40,400 Speaker 1: the biggest news in d C. The infrastructure bill will 440 00:25:40,440 --> 00:25:44,280 Speaker 1: cover Vice President Harris's visit to New Hampshire. That is 441 00:25:44,400 --> 00:25:53,000 Speaker 1: up next. I'm Emily Wilkins. This is Bloomberg. This is 442 00:25:53,040 --> 00:26:01,600 Speaker 1: Bloomberg sound On on Bloomberg Radio. I'm Emily Wilkins along 443 00:26:01,640 --> 00:26:04,360 Speaker 1: with Jennie and Rick, we are back. We are going 444 00:26:04,400 --> 00:26:06,760 Speaker 1: to travel all the way up to New Hampshire today 445 00:26:06,800 --> 00:26:11,000 Speaker 1: where Vice President Kamala Harris was this afternoon. She's talking 446 00:26:11,000 --> 00:26:15,440 Speaker 1: to union workers about the President's infrastructure plan. VP Harris 447 00:26:15,440 --> 00:26:18,400 Speaker 1: told the group of electrical workers that the White House 448 00:26:18,520 --> 00:26:21,679 Speaker 1: is ready to make a major investment in unions like 449 00:26:21,840 --> 00:26:24,720 Speaker 1: theirs to make sure that America stays on the cutting 450 00:26:24,840 --> 00:26:28,359 Speaker 1: edge of technology and that key key word for every 451 00:26:28,400 --> 00:26:32,320 Speaker 1: politician that they continue to create jobs. Here's the sound 452 00:26:32,359 --> 00:26:35,800 Speaker 1: on that. We're gonna focus on putting the money in 453 00:26:36,760 --> 00:26:39,200 Speaker 1: the jobs that are necessary to get the job done. 454 00:26:39,680 --> 00:26:42,400 Speaker 1: We're gonna put the money in the in the places 455 00:26:42,440 --> 00:26:47,560 Speaker 1: like IBW that are going to train the workforce. Rick Denine, 456 00:26:47,680 --> 00:26:50,439 Speaker 1: let's break this down. I know that unions were a 457 00:26:50,480 --> 00:26:53,720 Speaker 1: big focus for President Biden when he was running for president. 458 00:26:53,800 --> 00:26:56,000 Speaker 1: It was a group that he's really focused on. He 459 00:26:56,080 --> 00:26:59,160 Speaker 1: has used the word union a lot in his big speeches. 460 00:26:59,560 --> 00:27:04,000 Speaker 1: What's a role of unions going forward as this infrastructure 461 00:27:04,000 --> 00:27:08,240 Speaker 1: plan comes together? Well, I think it depends upon which 462 00:27:08,280 --> 00:27:10,680 Speaker 1: industry you're talking about. I mean, we all know that 463 00:27:11,359 --> 00:27:15,040 Speaker 1: unions dominate uh construction trades like roads and bridges and 464 00:27:15,040 --> 00:27:17,760 Speaker 1: tunnels and and those things that are sort of what 465 00:27:17,880 --> 00:27:22,080 Speaker 1: a lot of Republicans like to call hardcore infrastructure opportunities. 466 00:27:22,440 --> 00:27:25,600 Speaker 1: But also I B D, I B E W and 467 00:27:25,720 --> 00:27:32,360 Speaker 1: other UH unions also populate the ranks of technology industry. 468 00:27:32,560 --> 00:27:36,280 Speaker 1: UH slightly less manpower wise, but um still important, but 469 00:27:36,600 --> 00:27:40,480 Speaker 1: especially important states like New Hampshire where frankly it's a 470 00:27:40,480 --> 00:27:43,359 Speaker 1: battleground state, you know. So we do notice that a 471 00:27:43,400 --> 00:27:46,359 Speaker 1: lot of the road show that Vice President Harris is 472 00:27:46,400 --> 00:27:49,359 Speaker 1: going to or key places like North Carolina and in 473 00:27:49,400 --> 00:27:52,879 Speaker 1: New Hampshire. But but they will, at least by the 474 00:27:52,960 --> 00:27:58,040 Speaker 1: Biden administration standpoint, be the workforce that gets enhanced by 475 00:27:58,080 --> 00:28:02,840 Speaker 1: their infrastructure bill. And so it seems like their support 476 00:28:02,960 --> 00:28:06,600 Speaker 1: here is going to be pretty critical than going forward. 477 00:28:06,720 --> 00:28:09,800 Speaker 1: And I know that for this to President Biden is 478 00:28:09,800 --> 00:28:13,760 Speaker 1: really hoping to appeal to those groups. Um, Janine, do 479 00:28:13,800 --> 00:28:16,760 Speaker 1: you think that Harris's visit today is really going to 480 00:28:16,840 --> 00:28:19,159 Speaker 1: have a big impact? I mean, how many more of 481 00:28:19,200 --> 00:28:22,560 Speaker 1: these visits might she and President Biden need to do 482 00:28:22,680 --> 00:28:24,760 Speaker 1: to really make sure they are selling their plan to 483 00:28:24,880 --> 00:28:28,960 Speaker 1: the American people. Is anybody else suspicious that she's in 484 00:28:29,080 --> 00:28:32,439 Speaker 1: New Hampshire of all places I think, you know, I 485 00:28:32,480 --> 00:28:38,000 Speaker 1: feel like four is looming Emily very very fast. That's 486 00:28:38,080 --> 00:28:40,720 Speaker 1: not it wasn't a mistake that she's there. I'm surprised 487 00:28:40,760 --> 00:28:44,120 Speaker 1: it wasn't Iowa. That's right, And it'll be Iowa next. 488 00:28:44,200 --> 00:28:46,560 Speaker 1: Then she'll flip right back to New Hampshire. But you know, 489 00:28:46,640 --> 00:28:50,640 Speaker 1: I think obviously the union's critical to the Biden administration. 490 00:28:50,760 --> 00:28:52,560 Speaker 1: I think they got a big win with the coal 491 00:28:52,600 --> 00:28:57,120 Speaker 1: miners union coming out supporting the infrastructure bill, so you 492 00:28:57,160 --> 00:29:00,320 Speaker 1: know they they're gonna be pushing hard on this. But 493 00:29:00,520 --> 00:29:03,280 Speaker 1: I don't think any of that changes what is the 494 00:29:03,360 --> 00:29:07,239 Speaker 1: real question here, which is are they going to go 495 00:29:07,360 --> 00:29:09,720 Speaker 1: big and are they going to go on their own 496 00:29:09,800 --> 00:29:13,520 Speaker 1: on reconciliation on this and then they have to hold 497 00:29:13,640 --> 00:29:17,240 Speaker 1: all these people together, including Mansion, all these Democrats, or 498 00:29:17,320 --> 00:29:20,320 Speaker 1: are they going to compromise because this is going to 499 00:29:20,360 --> 00:29:23,240 Speaker 1: take passage in the Senate. So while unions and other 500 00:29:23,360 --> 00:29:26,160 Speaker 1: and other groups are critical in terms of you know, 501 00:29:26,440 --> 00:29:30,240 Speaker 1: pushing and prompting for their representatives and senators to support 502 00:29:30,560 --> 00:29:33,720 Speaker 1: or oppose the bill, um, the real question comes down 503 00:29:33,760 --> 00:29:35,960 Speaker 1: to how they're going to try to get this done. 504 00:29:36,160 --> 00:29:40,200 Speaker 1: Where do Joe Mansion, Kristen cinema go and is Biden 505 00:29:40,280 --> 00:29:43,640 Speaker 1: willing to do this on reconciliation in a partisan manner. 506 00:29:43,680 --> 00:29:46,840 Speaker 1: I think that's still the big looming question here, Jennie. 507 00:29:46,840 --> 00:29:49,840 Speaker 1: I love your point about Vice President Harris being in 508 00:29:49,880 --> 00:29:53,920 Speaker 1: New Hampshire, UH for for potentially political purpose. The last 509 00:29:53,920 --> 00:29:56,040 Speaker 1: time she was actually in New Hampshire was for the 510 00:29:56,080 --> 00:30:02,920 Speaker 1: presidential debates. Are here just to remind everybody. But but 511 00:30:02,960 --> 00:30:05,880 Speaker 1: the point you make I think is really important then 512 00:30:05,920 --> 00:30:08,600 Speaker 1: that is that that regardless of what the current bill 513 00:30:08,640 --> 00:30:11,760 Speaker 1: looks like, it's going to go through a very tough 514 00:30:11,800 --> 00:30:15,320 Speaker 1: spin cycle in the United States Senate, where members of 515 00:30:15,920 --> 00:30:20,120 Speaker 1: Joe Biden's own party have already had significant questions, But 516 00:30:20,240 --> 00:30:22,280 Speaker 1: there is a deal to be done. I mean, we 517 00:30:22,320 --> 00:30:25,520 Speaker 1: know that there are bipartisan groups working together at a 518 00:30:25,560 --> 00:30:29,000 Speaker 1: slim down version of the over two trillion dollar bill 519 00:30:29,480 --> 00:30:32,480 Speaker 1: UH in order to find something that could get bipartisans 520 00:30:32,520 --> 00:30:36,360 Speaker 1: support to be passed. That would be probably enough for 521 00:30:36,520 --> 00:30:39,600 Speaker 1: President Biden to declare victory, sign that bill and then 522 00:30:39,600 --> 00:30:42,280 Speaker 1: move on to the budget that also is almost two 523 00:30:42,280 --> 00:30:45,720 Speaker 1: trillion dollars of lobbying on the hill. So I think 524 00:30:45,760 --> 00:30:47,920 Speaker 1: you're spot on one of the questions. It's going to 525 00:30:48,000 --> 00:30:50,760 Speaker 1: be is what gets dropped out and what gets kept in. 526 00:30:50,880 --> 00:30:54,840 Speaker 1: And I do think the the the pure infrastructure pieces 527 00:30:54,880 --> 00:30:57,959 Speaker 1: are what seemed to be gaining momentum in the Senate. Well, ric, 528 00:30:58,160 --> 00:31:00,800 Speaker 1: it seems like you and Senator Joe Mansion are on 529 00:31:00,840 --> 00:31:04,080 Speaker 1: the same wavelengths today. Uh, the key moderate from West 530 00:31:04,160 --> 00:31:07,560 Speaker 1: Virginia came out saying that Congress should focus on conventional 531 00:31:07,680 --> 00:31:12,000 Speaker 1: infrastructure projects. Conventional is in quotation marks there, that's roadways, 532 00:31:12,080 --> 00:31:14,960 Speaker 1: that's bridges, and that sort of another sign that there 533 00:31:15,000 --> 00:31:19,200 Speaker 1: might be some resistance within the Democratic caucus to Joe 534 00:31:19,240 --> 00:31:23,800 Speaker 1: Biden's larger two point to five trillion plan. I'm wondering 535 00:31:23,880 --> 00:31:26,680 Speaker 1: that you guys, do you think that Joe mansions are 536 00:31:26,720 --> 00:31:28,800 Speaker 1: of coming out today and saying that there needs to 537 00:31:28,840 --> 00:31:31,719 Speaker 1: be focused on infrastructure, does this sort of make it 538 00:31:31,800 --> 00:31:35,320 Speaker 1: more likely that we are going to see a bipartisan 539 00:31:35,360 --> 00:31:42,000 Speaker 1: infrastructure bill between Democrats and Republicans. So sorry, I was 540 00:31:42,040 --> 00:31:44,560 Speaker 1: just gonna say, you know, he is, you know, he's 541 00:31:44,720 --> 00:31:47,080 Speaker 1: the equivalent of like the swing vote on the Supreme 542 00:31:47,080 --> 00:31:49,760 Speaker 1: Court these days, he's the most powerful man. So the 543 00:31:49,960 --> 00:31:52,840 Speaker 1: two Rick's point, And you know, I do think when 544 00:31:52,880 --> 00:31:55,960 Speaker 1: he comes out and says something like this, the President's 545 00:31:56,040 --> 00:31:57,840 Speaker 1: really going to have to listen. Of course, this comes 546 00:31:57,880 --> 00:32:01,680 Speaker 1: one day after Republicans under Shelley more Capital release this 547 00:32:01,760 --> 00:32:03,920 Speaker 1: plan you know, around a little less than a billion, 548 00:32:03,960 --> 00:32:06,280 Speaker 1: you know, six eight or so billion dollars and hundred 549 00:32:06,280 --> 00:32:08,800 Speaker 1: billion dollars. And people are spotting at that as if 550 00:32:08,840 --> 00:32:11,280 Speaker 1: it's nothing that used to be a lot of money. 551 00:32:11,320 --> 00:32:13,760 Speaker 1: But for me, what I think I'm really watching for 552 00:32:13,960 --> 00:32:17,520 Speaker 1: next week is President Biden's State of the State or 553 00:32:17,920 --> 00:32:19,320 Speaker 1: you know, can't call the State of the Union, but 554 00:32:19,400 --> 00:32:21,680 Speaker 1: State of the State on his you know, his hundred 555 00:32:21,720 --> 00:32:24,400 Speaker 1: day speech, because he is supposed to lay out his 556 00:32:24,480 --> 00:32:27,840 Speaker 1: America's Famili's plan. And I can imagine based on what 557 00:32:27,880 --> 00:32:30,680 Speaker 1: you said, Emily, that Joe Mansion is going to like 558 00:32:31,080 --> 00:32:35,000 Speaker 1: the amount of spending there or what's defined as infrastructure there. Yeah, 559 00:32:35,080 --> 00:32:37,800 Speaker 1: and remember too, I mean today was Climate Day at 560 00:32:37,840 --> 00:32:39,960 Speaker 1: the White House. We had this great summit going on. 561 00:32:40,040 --> 00:32:42,880 Speaker 1: Everybody's talking about how much they hate Cole. Where's Joe 562 00:32:42,880 --> 00:32:45,920 Speaker 1: Mansion from a coal state, so he had to have 563 00:32:46,080 --> 00:32:49,040 Speaker 1: something different to talk about, and infrastructure is probably right 564 00:32:49,120 --> 00:32:51,720 Speaker 1: up his alley. Uh and uh and and so I 565 00:32:51,760 --> 00:32:54,720 Speaker 1: do think that there is a division of labor in 566 00:32:54,800 --> 00:32:57,800 Speaker 1: the White House right now where this week clearly has 567 00:32:57,840 --> 00:33:01,160 Speaker 1: been you know, from Wednesday's speech by the President on 568 00:33:01,520 --> 00:33:05,560 Speaker 1: US activity related to UM climate in our in our 569 00:33:05,600 --> 00:33:08,480 Speaker 1: reductions that he plans to do as president, and this 570 00:33:08,480 --> 00:33:12,840 Speaker 1: this global Climate summit on Thursday and Friday, uh and 571 00:33:12,840 --> 00:33:16,520 Speaker 1: and and that was all designed to correspond with UM 572 00:33:16,960 --> 00:33:20,600 Speaker 1: Vice President Harris moving around the country drumming up popular 573 00:33:20,640 --> 00:33:23,480 Speaker 1: support for an infrastructure plan that if they think they 574 00:33:23,480 --> 00:33:27,200 Speaker 1: can get people involved in this bill, thinking this will 575 00:33:27,240 --> 00:33:29,920 Speaker 1: increase the opportunity for jobs, make their lives better in 576 00:33:29,960 --> 00:33:32,520 Speaker 1: the communities they are in, they'll put the heat on 577 00:33:32,560 --> 00:33:35,920 Speaker 1: some of these members too and hopefully drive them towards 578 00:33:35,920 --> 00:33:39,000 Speaker 1: the bargaining table. And so kudos to Joe Mansion for 579 00:33:39,040 --> 00:33:41,240 Speaker 1: finding a graceful way to not have to talk about 580 00:33:41,400 --> 00:33:45,080 Speaker 1: climate by actually leaning into one of the other top 581 00:33:45,120 --> 00:33:48,880 Speaker 1: priorities of the Biden administration on on infrastructure. Well, Jennie, 582 00:33:49,080 --> 00:33:51,560 Speaker 1: I want to flip this conversation around a little bit 583 00:33:51,640 --> 00:33:54,640 Speaker 1: and and ask you if you think that Senator Mansions comments, 584 00:33:54,920 --> 00:33:57,040 Speaker 1: his says, his saying that we need to focus on 585 00:33:57,200 --> 00:34:00,720 Speaker 1: traditional infrastructure, is this a death knell at all to 586 00:34:01,040 --> 00:34:05,400 Speaker 1: the more social infrastructure plan that President Biden has coming 587 00:34:05,400 --> 00:34:11,000 Speaker 1: out on child tax credits, education, potentially healthcare. I think 588 00:34:11,120 --> 00:34:14,000 Speaker 1: it is a movement in that direction. And you know, 589 00:34:14,200 --> 00:34:16,279 Speaker 1: the concept of death knell is going to be a 590 00:34:16,320 --> 00:34:19,680 Speaker 1: big problem if it is for President Biden, because of 591 00:34:19,719 --> 00:34:22,680 Speaker 1: course he's got Progressives that he has to answer to. 592 00:34:23,320 --> 00:34:25,799 Speaker 1: And you know, I think what what Joe Mansion is 593 00:34:25,880 --> 00:34:29,399 Speaker 1: introducing into the discussion gets back to something that we've 594 00:34:29,440 --> 00:34:33,279 Speaker 1: all been talking about, how do you define infrastructure? And 595 00:34:33,320 --> 00:34:35,560 Speaker 1: to your point, Joe Mansion wants to define it in 596 00:34:35,600 --> 00:34:38,600 Speaker 1: a much more conventional way, the way Republicans Shelley Moore, 597 00:34:38,600 --> 00:34:42,040 Speaker 1: Capital and others Romney have in the past and continue 598 00:34:42,080 --> 00:34:45,680 Speaker 1: to want to, and Joe Biden, working with the Progressives, 599 00:34:45,960 --> 00:34:49,120 Speaker 1: wants to next week. And this speech introduced a whole 600 00:34:49,200 --> 00:34:52,640 Speaker 1: new way of thinking about infrastructure. And I'm not sure 601 00:34:52,640 --> 00:34:55,040 Speaker 1: where this ends up, but you know, to your point, 602 00:34:55,480 --> 00:34:58,640 Speaker 1: if they can't get Mansion to come along, they can't 603 00:34:58,640 --> 00:35:02,000 Speaker 1: even do this thing on reckon refiliation. So unless they 604 00:35:02,000 --> 00:35:04,680 Speaker 1: get another Republican, of course, which seems far FETs so 605 00:35:05,000 --> 00:35:07,640 Speaker 1: to me, it is a big challenge for the Biden 606 00:35:07,680 --> 00:35:11,359 Speaker 1: administration if he puts his foot down on this absolutely 607 00:35:11,400 --> 00:35:13,600 Speaker 1: and I think we're all gonna be watching very closely 608 00:35:13,800 --> 00:35:17,120 Speaker 1: next week a make sure that your calendars are marked. 609 00:35:17,400 --> 00:35:20,319 Speaker 1: That's when President Biden is going to give. Everyone keeps 610 00:35:20,360 --> 00:35:22,239 Speaker 1: calling it the State of the Union. This is just 611 00:35:22,280 --> 00:35:24,520 Speaker 1: like the stickler in me. It's not the State of 612 00:35:24,560 --> 00:35:26,680 Speaker 1: the Union because it's his first time giving. The speech 613 00:35:26,880 --> 00:35:29,680 Speaker 1: is a joint address to Congress, and it'll be an 614 00:35:29,680 --> 00:35:32,799 Speaker 1: interesting one. We're only going to see about two lawmakers 615 00:35:32,800 --> 00:35:35,480 Speaker 1: in the chamber. It won't be packed thanks to COVID, 616 00:35:35,880 --> 00:35:39,040 Speaker 1: so definitely a different environment. But that's when we're going 617 00:35:39,080 --> 00:35:42,960 Speaker 1: to expect President Biden to really roll out that next 618 00:35:43,000 --> 00:35:46,080 Speaker 1: plan with the child tax care care credit as well 619 00:35:46,120 --> 00:35:49,759 Speaker 1: as other social infrastructure that's what they're calling it now, 620 00:35:50,040 --> 00:35:53,640 Speaker 1: uh things. I mean, I also want to make sure 621 00:35:53,680 --> 00:35:56,480 Speaker 1: that we are touching on real quick sort of the 622 00:35:56,760 --> 00:35:59,640 Speaker 1: big news that just broke right as the show was 623 00:35:59,680 --> 00:36:03,920 Speaker 1: star mean, which is that CDC advisors are reaffirming the 624 00:36:04,000 --> 00:36:07,359 Speaker 1: Johnson and Johnson vaccine. After the pause. They're going to 625 00:36:07,400 --> 00:36:09,880 Speaker 1: allow people to take it again. They're going to probably 626 00:36:09,880 --> 00:36:12,200 Speaker 1: come out with a little bit of guidance on what 627 00:36:12,320 --> 00:36:15,319 Speaker 1: people who take the shot needs to look for. And 628 00:36:15,360 --> 00:36:19,280 Speaker 1: so I'm wondering is this is this good news for vaccine? 629 00:36:19,320 --> 00:36:22,160 Speaker 1: Is this going to sort of help more Americans get 630 00:36:22,160 --> 00:36:24,839 Speaker 1: that vaccine? Real quick? Thirty seconds, Rick, do you want 631 00:36:24,840 --> 00:36:27,120 Speaker 1: to take that? Emily? For sure? I think it's you know, 632 00:36:27,200 --> 00:36:30,400 Speaker 1: the J and J stumbling block has muddled the message 633 00:36:30,400 --> 00:36:33,400 Speaker 1: a little bit about people who want to get a vaccine, 634 00:36:33,440 --> 00:36:36,160 Speaker 1: but aren't you sure about the safety and effectiveness. Uh 635 00:36:36,239 --> 00:36:39,640 Speaker 1: CDC and the FDA coming out strongly today saying they 636 00:36:39,680 --> 00:36:43,200 Speaker 1: reaffirmed the safety nous of this vaccine is going to 637 00:36:43,239 --> 00:36:46,520 Speaker 1: help the momentum. This administration convinced people almost a third 638 00:36:46,840 --> 00:36:49,399 Speaker 1: in our country who haven't gotten vaccine yet. Well, Rick, 639 00:36:49,520 --> 00:36:53,080 Speaker 1: thank you, Denin, thank you. That is it for today's show. Everyone, 640 00:36:53,239 --> 00:36:56,200 Speaker 1: enjoy your Friday, enjoy your weekend. Thank you for listening. 641 00:36:56,239 --> 00:36:59,799 Speaker 1: We'll be back on Monday. I'm Emily Wilkins. This is 642 00:37:00,040 --> 00:37:00,440 Speaker 1: Lumberg