Speaker 1: From the Bloomberg Interactive Brokers Studios. This is Bloomberg day
Speaker 1: Break for Friday, May nineteenth.
Speaker 2: Coming up today, Optimism grows on both sides of the
Speaker 2: aisle on a debt deal agreement.
Speaker 1: Ukraine's President Vladimir Zelenski plans to a Tamage seven meeting
Speaker 1: in Japan.
Speaker 2: The spat between Disney and Florida Governor Ron DeSantis heats up.
Speaker 1: And on top of Wall Street, strategist says sell this
Speaker 1: recent market rally.
Speaker 3: Funeral services are today for the New York subway writer
Speaker 3: who died after a choke hold. Plus the NYPD makes
Speaker 3: a grim discovery in the search for two missing boys.
Speaker 3: I'm Michael Barr Bore Ahead.
Speaker 4: I'm John Stash, Aaron's bord Twins for the Mets and Yankees.
Speaker 4: The Nuggets again beat the Lakers the Florida Panthers one
Speaker 4: in four overtime.
Speaker 5: That's all straight Ahead on Bloomberg day Break, the business
Speaker 5: news you need to starn your day in just one
Speaker 5: fifteen minute podcast each morning on Apples, Spotify, the Bloomberg
Speaker 5: Business Appen everywhere you get your podcasts.
Speaker 1: Good morning, I'm Amy Morris and I'm Karen Moscow. Here
Speaker 1: are the stories we're following today.
Speaker 2: First House Speaker Kevin McCarthy and Senate Majority Leader Chuck
Speaker 2: Schumer are making plans for votes in the coming days
Speaker 2: on a bipartisan deal to avert a US debt default.
Speaker 2: How Speaker McCarthy says he does see a path forward.
Speaker 6: Where we were a week ago and where we are
Speaker 6: today is a much better place because of him.
Speaker 7: We've got the right people in the room discussing it
Speaker 7: in a very professional manner, with all the knowledge and
Speaker 7: all the background from all the different leaders and what
Speaker 7: they want.
Speaker 2: I know, and I can see where a deal can
Speaker 2: come together. Senator Schumer says he's hopeful.
Speaker 8: I'm also pleased that the other side has recognized the
Speaker 8: best way forward is a bipartisan piece of legislation that
Speaker 8: can secure enough votes to get through both the House
Speaker 8: and the Senate.
Speaker 2: Meanwhile, the Senate will go forward with its planned recess
Speaker 2: next week. Senator Schumer told lawmakers they need to be
Speaker 2: ready to return to Washington within twenty four hours once
Speaker 2: there's a deal.
Speaker 1: Melami. There is also optimism among others in Congress to
Speaker 1: be caught up with Arizona's Senator Kirsten Cinema.
Speaker 9: Well, the good news is that we've now got the
Speaker 9: right people in the room to have the conversation and
Speaker 9: come to an agreement. And I am beginning to feel
Speaker 9: more and more confident each day that such an agreement
Speaker 9: will occur. We've got some really good news here. One
Speaker 9: is that Kevin McCarthy has said over and over he
Speaker 9: doesn't want to have a default. His folks are in
Speaker 9: the room negotiating to prevent a default and solve this challenge.
Speaker 1: And Arizona's Senator Kirsten Cinema made the comments in an
Speaker 1: interview with Bloomberg's Joe Matthew and Kaylee Lynes. Here more
Speaker 1: of that conversation.
Speaker 2: A little later in the program, President Biden meanwhile urging
Speaker 2: negotiators to keep pursuing a dead limit deal. The President
Speaker 2: is at the G seven meeting in Japan, and we've
Speaker 2: learned that Ukraine's President Voladimir Zelinski will also travel there
Speaker 2: to join the leaders in person. We get more on
Speaker 2: that from Bloomberg Steven Engel in Hiroshima.
Speaker 7: We are learning from sources that Zelensky of Ukraine will
Speaker 7: be coming here on Sunday after a stop in Saudi Arabia.
Speaker 2: For the Arab League.
Speaker 7: He could potentially there be in the same room as
Speaker 7: Syria as asad that would be interesting, to say the
Speaker 7: least this weekend, but again he will be here at
Speaker 7: the Atomic Bomb Dome and the Peace Memorial Park just
Speaker 7: down the river here to make his case to get
Speaker 7: the G sevens perhaps give more aid for Ukraine's fight
Speaker 7: against Russia.
Speaker 2: Bloomberg, State and Angle and hiroshimasays officials have added an
Speaker 2: extra session to the summit's schedule on Sunday to accommodate
Speaker 2: Ze Lindsay's schedule.
Speaker 1: Meanwhile, Amy, the US and Taiwan have agreed on a
Speaker 1: trade initiative and a bid for even closer ties on
Speaker 1: Bloomberg's Ed Baxter has the story.
Speaker 10: This is the first tangible result under an initiative announced
Speaker 10: last year. It will do several things with a lot
Speaker 10: left to do. It will streamline customs, reduce way times
Speaker 10: for trucks and vessels, and improve regulation, but it isn't
Speaker 10: a formal free trade agreement. A dozen addressed issues like
Speaker 10: tariffs or semiconductors. This agreement was also announced just hours
Speaker 10: after the Chinese Embassy in Washington announced trade meetings between
Speaker 10: China and the US. Yet to be seen how this
Speaker 10: agreement could affect that In San Francisco, I'm at Baxter
Speaker 10: Bloomberg Daybreak.
Speaker 2: Thank you ed a bit of a political story. On
Speaker 2: a different front, Disney's high profile fight with Florida Governor
Speaker 2: Rond De Santis has taken another turn. Let's get the
Speaker 2: latest with Bloomberg's John Tucker, John.
Speaker 11: And Amy taking on Mickey Mouse and the force has
Speaker 11: its price. Disney has dropped plans for a new corporate
Speaker 11: campus in Florida. It would have brought with it two
Speaker 11: thousand workers. It was worth as much as nine hundred
Speaker 11: million dollars, and they're shutting down a luxury hotel at
Speaker 11: disney World Star Wars Galactic Star Cruiser. It was one
Speaker 11: of the most expensive attractions of the park. The company
Speaker 11: has also raised outs about billions of dollars in new
Speaker 11: investment in the state, while Disney is in the middle
Speaker 11: of cost cuts. Say it's hard not to see the
Speaker 11: moves as retaliation against Ron De Santis. Disney opposed a
Speaker 11: state law limiting the discussion of gender issues in public schools.
Speaker 11: In turn, DeSantis, to presume president contender took control of
Speaker 11: a board that oversees municipal services at Disney World. Now
Speaker 11: they're in court, you know, York. Come John Tucker Bloomberg daybreak, All.
Speaker 1: Right, John, Thanks, We'll be turned to the economy now,
Speaker 1: and bets are growing on another FED rate hike. Traders
Speaker 1: now have a June increase at forty percent. Federal Reserve
Speaker 1: Governor Phillip Jefferson says he's willing to be patient and
Speaker 1: wants to see the impact of past rate hikes.
Speaker 12: History shows that monetary policy works with long and variable legs,
Speaker 12: and that a year is not long enough period for
Speaker 12: demand to feel the full effects of higher interest rate.
Speaker 1: Thank Governor Philip Jefferson made the comments at an event
Speaker 1: hosted by the National Association of Insurance Commissioners in Washington.
Speaker 2: One prominent Wall Street strategist says FED high grates may
Speaker 2: not be over. That's one reason why he's recommending investors
Speaker 2: sell this recent rally, which saw stocks close at a
Speaker 2: nine month high yesterday. Bank of America as Michael Hartnett
Speaker 2: also says tech and artificial intelligence are forming a bubble. Hartnett,
Speaker 2: who correctly predicted last year that recession fears would fuel
Speaker 2: a stock exodus, recommended selling the s and p five
Speaker 2: hundred at forty two hundred, the indexes current level and Amy.
Speaker 1: A management shuffle may be in the works at Lazard.
Speaker 1: Bloomberg News has learned CEO Ken Jacob's plans to step
Speaker 1: down from the top job as the investment bank RETRENCHESHM
Speaker 1: at a slump in deal making and a plunge in
Speaker 1: the company's stock price. Sources say sixty four year old
Speaker 1: Jacobs are a main with the firm and be succeeded
Speaker 1: as CEO by Peter Orzag. Straight ahead your latest local
Speaker 1: headlines and this is Bloomberg.
Speaker 2: Thank you, Karen five seven on Wall Street, fifty five
Speaker 2: degrees in New York. Look for sunshine as we go
Speaker 2: up to seventy Today. Time now for a look at
Speaker 2: some of the other stories making news in New York
Speaker 2: and around the world. For that, we're joined by Bloomberg's
Speaker 2: Michael bar Good morning, Michael.
Speaker 3: Good morning. Amy. Funeral services will take place today in
Speaker 3: Harlem for a homeless New York City subway writer who
Speaker 3: died earlier this month after he was put in a
Speaker 3: choke hold. Neely's death on a New York City subway
Speaker 3: train sparked protests. Marine veteran Daniel Penny attempted to subdue
Speaker 3: Neely on an f train after Neely was said to
Speaker 3: be shouting in passengers. The medical examiner ruled Neely's death
Speaker 3: a homicide. Last week, Penny was arrained on a manslaughter charge.
Speaker 3: The NYPD made a grim discovery in the search for
Speaker 3: two missing boys. Authorities say the body of a boy
Speaker 3: missing from Harlem was pulled from the East River. The
Speaker 3: victim's family confirmed that the remains belonged to thirteen year
Speaker 3: old Garrett Warren. Warren and his friend, eleven year old
Speaker 3: Alpha Berry, when missing several days ago. Police in the
Speaker 3: Dayton suburb of Morein, Ohio say there was an active
Speaker 3: shooting incident at a diesel manufacturing plant. Police say two
Speaker 3: people were shot and one died at the scene. Iraine
Speaker 3: Police Sergeant Andrew Perrish our.
Speaker 4: Officers responded along with the fire department, quickly got here
Speaker 4: and were able to get into the scene and.
Speaker 13: Within just a few minutes confirmed the active threat inside
Speaker 13: the building was over.
Speaker 3: Sergeant Parrish says the suspect remains hospitalized for a self
Speaker 3: inflicted gunshot wound. A spokesperson for Democratic Senator Diane Feinstein,
Speaker 3: who was absent from the Capitol for months after being
Speaker 3: hospitalized with shingles, suffered serious complications. The complications included encephalitis
Speaker 3: and Ramsey Hunt syndrome, a neurological disorder that can arise
Speaker 3: from shingles virus. Weinstein, who is eighty nine, returned to
Speaker 3: the Capitol last week in a wheelchair. Experts are warning
Speaker 3: about a rise in the decades old bank fraud scam
Speaker 3: called check washing. Anyone who sends paper checks and the
Speaker 3: mail is vulnerable. John Breo with the National Consumers League
Speaker 3: says it starts with scammers plucking those checks, usually out
Speaker 3: of blue USPS mailboxes on the street.
Speaker 14: They take that check and they put it into a
Speaker 14: chemical solution. Usually it's something like acetone that you can
Speaker 14: find in most neo polish removers, and that allows them
Speaker 14: to get the ink that you have used to write
Speaker 14: the check off of the check.
Speaker 3: The National Consumers League John Breo says an easy way
Speaker 3: to protect against the scheme is to switch to paperless payments.
Speaker 3: Global News twenty four hours a day, powered by more
Speaker 3: than twenty seven hundred journalists d analysts in over one
Speaker 3: hundred and twenty countries. I'm Michael Barr. This is Bloomberg Gaming.
Speaker 2: All right, thank you, Michael. Time now for our Bloomberg
Speaker 2: Sports update. For that, we bring in John stash Hour.
Speaker 2: All right, Emmy.
Speaker 4: The Denver Nuggets KPE winning at home now eight to
Speaker 4: no in Denver, and the Nuggets are two wins from
Speaker 4: a place they've never been before. The NBA Finals were
Speaker 4: up to nothing on the Lakers. They trailed much of
Speaker 4: Game two. We got a big fourth quarter from Jamal Murray.
Speaker 4: That's what he scored twenty three of his thirty seven
Speaker 4: points in Denver. One one oh eight, one oh three.
Speaker 4: Yet another triple double for Nicolai Jokich, his seventh of
Speaker 4: the playoffs. Game two in the East is tonight in Boston.
Speaker 4: Miami up won up in the heat, trying to reach
Speaker 4: the finals as an eight seed. The hockey team in
Speaker 4: South Florida also seeded eighth. The Panthers played Game one
Speaker 4: at Carolina. This game was two to two for ninety
Speaker 4: six minutes.
Speaker 2: Sampette keeps see it out fuck Ka Chuck is Shuck
Speaker 2: Piece stars pieceas Matthew Good Chuck the overtime winner. The
Speaker 2: Pitters take game p wqem to.
Speaker 4: Chuck's goal came with thirteen seconds left in the fourth overtime,
Speaker 4: sixth longest game in NHL history. Yankees bounced back from
Speaker 4: the extra day loss in Toronto to win four to two.
Speaker 4: Aaron Judge got him going to run over first inning,
Speaker 4: his sixth in the last six games. He later nearly
Speaker 4: hit another it bounced off the top of the wall
Speaker 4: for a double. Nester Cortez had had a couple of
Speaker 4: recent shaky addings, but he was sharpened this one of
Speaker 4: the Yanks take three to four. They played tonight in
Speaker 4: Cincinnati the Mets. Tonight home for Cleveland. They beat Tampa
Speaker 4: Bay three to two, so they have their first two
Speaker 4: game win streaks since April twenty first. It's also their
Speaker 4: first series victory since then DJA Championship in Rochester. They'll
Speaker 4: finish the first round today. Then played the second. Thirty
Speaker 4: four year old American Eric Cole, playing in a Major
Speaker 4: for only the second time, is five under and he
Speaker 4: leads by one over bryceon De Shamba. Round two coverage
Speaker 4: today starting at four Here, I'm Bloomberg Great sham Stash.
Speaker 4: I went Bloomberg Sports.
Speaker 5: Live from coast to coast, from New York to San Francisco,
Speaker 5: Boston to Washington. D c nationwide on SIRIUSXAM, the Bloomberg
Speaker 5: Business app, and Bloomberg dot Com.
Speaker 2: This is Bloomberg Daybreak. Good Friday morning. I'm Ammy Morris.
Speaker 2: In recent days, President Biden and House Speaker McCarthy signalled
Speaker 2: progress on a debt default deal. There will be compromises
Speaker 2: to get to the finish line. Arizona Senator Kirsten Cinema says, well,
Speaker 2: compromise is needed to strike a deal that works for Americans.
Speaker 2: In an exclusive conversation on Bloomberg's Sound on yesterday, our
Speaker 2: Joe Matthew and Kaylee Lines spoke with the independent Arizona
Speaker 2: senator about the debt ceiling, bank turmoil and the southern border.
Speaker 2: Let's go to that conversation.
Speaker 6: I want to start with the matter at hand, that,
Speaker 6: of course, is the debt ceiling and an illoming apparent
Speaker 6: deal here. Kevin McCarthy says it's going to be on
Speaker 6: the floor next week. Then it becomes a question of passage,
Speaker 6: of course, Senator, and it appears he will need some
Speaker 6: Democratic votes. Can you tell our listeners and viewers where
Speaker 6: are your red lines on this?
Speaker 9: Well, first, one thing to remember is I'm proud to
Speaker 9: be the independent Senate from Arizona, and so I'm happy.
Speaker 2: To join you all today.
Speaker 9: I actually don't tend to talk in terms of red lines,
Speaker 9: and in fact, I think that when folks come around
Speaker 9: and start talking about red lines, that's how you tend
Speaker 9: to not get to a deal. So what we've got
Speaker 9: to do is really focus on coming together to find
Speaker 9: areas of shared agreement. The default, the possibility of default
Speaker 9: is a threat to every single one of us in
Speaker 9: this nation, regardless of whether they're a Democrat, Republican, or
Speaker 9: an independent. So our goal here has to be about
Speaker 9: solving the challenge and doing it together. Now, if you
Speaker 9: ask me about what should I think we do about
Speaker 9: the debt limit and default, the bottom line is that
Speaker 9: both political parties are guilty of playing fire when it
Speaker 9: comes to the debt limit. When either party is in
Speaker 9: the minority, they demand requirements from the other party in
Speaker 9: order to get to a deal. And unfortunately that's been
Speaker 9: happening for years, and it's a mistake. It's wrong. We
Speaker 9: should never play with fire when it comes to the
Speaker 9: full faith in credit the United States of America.
Speaker 13: Now here we are today, we know that you have
Speaker 13: had a long history of relationships with some of the
Speaker 13: key players in these negotiations, a long working relationship with
Speaker 13: how Speaker Kevin McCarthy, with Stever Shehetty, who is negotiating
Speaker 13: on the side of the White House, as well as
Speaker 13: the O and B director Shalanda Young. So what are
Speaker 13: you telling them directly? How have you been involved in
Speaker 13: these conversations.
Speaker 9: Well, the good news is that we've now got the
Speaker 9: right people in the room to have the conversation and
Speaker 9: come to an agreement, and I am beginning to feel
Speaker 9: more and more confident each day that such an agreement
Speaker 9: will occur. We've got some really good news here. One
Speaker 9: is that Kevin McCarthy has said over and over he
Speaker 9: doesn't want to have a default. His folks are in
Speaker 9: the room negotiating to prevent a default and solve this challenge.
Speaker 9: Shetty and I have negotiated many a deal together in
Speaker 9: the past several years, and he's a good voice for
Speaker 9: the president. And Shalanda Young, she's the smartest person in
Speaker 9: the building. She knows the budget and appropriations inside out.
Speaker 9: So with those folks at the table, I feel confident
Speaker 9: that they're going to come to an agreement and then
Speaker 9: we'll be able to stave off default and get back
Speaker 9: to the business of governing our country.
Speaker 6: Your confidence is refreshing, Senator. Though there are a lot
Speaker 6: of questions right now about work requirements, this seems to
Speaker 6: be where a lot of the action is in the
Speaker 6: negotiating room here, and I wonder where your line is.
Speaker 6: President Biden says he's open to additional work requirements for
Speaker 6: programs like SNAP, but draws the line at medicaid.
Speaker 3: Do you agree with him?
Speaker 9: It's funny because you keep mentioning the word line. And
Speaker 9: as I mentioned at the beginning of our conversation, when
Speaker 9: folks put up red lines, it makes it harder to
Speaker 9: solve the problem, not easier. The reality is, in our country,
Speaker 9: we've long had modest work requirements for some entitlement programs,
Speaker 9: and continuing those makes relevant sense. Conversation about whether or
Speaker 9: not we'll have fewer or more of those in the
Speaker 9: future is really a discussion that belongs in the negotiating room,
Speaker 9: not on television cameras.
Speaker 13: If ultimately, if ultimately that is included in the package, Senator,
Speaker 13: would you still vote yes to that deal?
Speaker 9: I like how you guys keep trying to come back
Speaker 9: to the redline question and I'll just tell you right
Speaker 9: here and now, I'm not going to answer it, but
Speaker 9: I am happy to talk about how I think we
Speaker 9: can move forward after this conversation to prevent a future
Speaker 9: situation like this one. In fact, I just introduced a
Speaker 9: bill with Senator Ernst that would ensure that Congress gets accurate,
Speaker 9: nonpartisan information every year about the true facts around the
Speaker 9: fiscal state of our nation. That way, as members of
Speaker 9: Congress and Senators, we're all informed about what our financial
Speaker 9: situation is like. And then, rather than playing politics and
Speaker 9: playing fire with the full faith in part of the
Speaker 9: United States of America, perhaps we might choose to get
Speaker 9: serious about fiscal discipline and taking care of the fiscal
Speaker 9: health of our nation.
Speaker 6: Senator, you had a long list of questions today for
Speaker 6: the Vice Chair of the Federal Reserve, Michael Barr, and
Speaker 6: a Senate Banking Committee hearing looking into the causes and
Speaker 6: the fallout from the bank collapses that we've witnessed over
Speaker 6: the past couple of months. Here among your questions really
Speaker 6: got to authority, oversight, supervision here, and I wonder if
Speaker 6: at this point, following your conversation with Michael Barr today,
Speaker 6: you're satisfied with the FED exercising its full authority or
Speaker 6: does Congress need to mandate something here.
Speaker 9: Well, it's been clear from the last two times that
Speaker 9: Vice Chair bar has testified in the Banking Committee that
Speaker 9: he's acknowledged two things. One that the agency did have
Speaker 9: sufficient authority to provide oversight and failed to do so appropriately.
Speaker 9: Today he talked about making internal changes around the culture
Speaker 9: of his organization, and as you heard in my questions,
Speaker 9: I've encouraged him to create a detailed plan and report
Speaker 9: it quarterly to Congress so that he's accountable to us
Speaker 9: for actually implementing that plan. But one thing that we
Speaker 9: know is clear the agency, the FED, had the authority
Speaker 9: and chose not to exercise it over SVB and other
Speaker 9: banks that have faced failures, and that is a failure
Speaker 9: on their part. So as you saw today, I've encouraged
Speaker 9: them and tell them that we expect them to actually
Speaker 9: do their job and do it at the speed of business.
Speaker 9: One thing we've learned is that the FED was too
Speaker 9: slow in responding to elements or signs of risk. They
Speaker 9: would ask questions of the bank, but didn't hold them
Speaker 9: accountable and didn't do so in real time. That's something
Speaker 9: they need to do is modernize so they can actually
Speaker 9: respond to these threats in real time, just like we
Speaker 9: as consumers respond to the threats or challenges we face
Speaker 9: in real time.
Speaker 13: So, Senator, that's something you'd like to see the regulators
Speaker 13: do internally. But is there anything you'd like to see
Speaker 13: Congress do legislatively? Are there any measures bills that you
Speaker 13: would support to address the banking crisis.
Speaker 9: There are a number of pieces of legislation that we've
Speaker 9: introduced in a bipartisan way, including legislation it would claw
Speaker 9: back the executive bonuses and other inappropriately taken income on
Speaker 9: the part of these executives. But in terms of regulation,
Speaker 9: let's be clear, the FED and FDIC have said they
Speaker 9: do have the regulatory powers to prevent further bank failures
Speaker 9: and to hold banks accountable. It's their job to do it.
Speaker 9: It's Congress's job to hold them accountable and ensure.
Speaker 8: They do it.
Speaker 6: Senator Kerry Lake has been in town this Week's been
Speaker 6: her second visit here this week this year. I should
Speaker 6: stay talking with the nrsc Reuben Diego has been talking
Speaker 6: about you a lot in the media, and I wonder
Speaker 6: if you can tell us what your timeline is for
Speaker 6: making a decision on a potential run for reelection.
Speaker 9: I don't have anything to offer to you on that point.
Speaker 9: As you can tell, I am one hundred percent invested
Speaker 9: and focused on doing the work for Arizona in the
Speaker 9: United States Senate right now. As I say, politics can
Speaker 9: wait to another day. But right now, we have so
Speaker 9: many challenges on our plate. Arizonas can count on me
Speaker 9: to stay one hundred percent focused on meeting those challenges.
Speaker 13: But as you do your work in the Senate and
Speaker 13: look towards your future, can you rule out caucusing with
Speaker 13: the Republican Party.
Speaker 9: Well, I've asked, been asked, and answered that question numerous times,
Speaker 9: and as I said just about a week and a
Speaker 9: half ago, you don't leave one broken party to join another.
Speaker 9: Arizonans and Americans across this country are hungry for leaders
Speaker 9: who are not invested in one party or the other,
Speaker 9: and who don't march to the drum when they're told
Speaker 9: to do something, and who importantly are willing to get
Speaker 9: out of those partisan boxes and solve the challenges we
Speaker 9: face in our country. I've demonstrated to Arizonans over the
Speaker 9: last twenty years of service that I can be that
Speaker 9: person and have been that person, and I know they
Speaker 9: can count on me to continue doing that work. So
Speaker 9: folks can count on me to be the same independent
Speaker 9: voice I've always been.
Speaker 6: I have to ask you about an important issue for
Speaker 6: your state, and I know it's something that you take
Speaker 6: very personally, Senator, and that's what's happening at our southern border.
Speaker 6: You're up with a bipartisan bill to extend Title forty
Speaker 6: two was just rescinded. Are you getting support in that
Speaker 6: effort in the Senate?
Speaker 9: Well, I'm so glad you've asked about this because it's
Speaker 9: the number one issue on Arizona's mind right now. When
Speaker 9: the administration ended Title forty two without an appropriate plan
Speaker 9: in place, once again the burden falls on the shoulders
Speaker 9: of Arizona's border communities, and of course this is a
Speaker 9: growing humanitarian crisis for the migrants themselves. So Senator Tillis
Speaker 9: and I have introduced a bill to extend the elements
Speaker 9: of Title forty two so that the administration can do
Speaker 9: what it should have done over the last two years,
Speaker 9: which is prepare for the end of this program. We
Speaker 9: are growing in support and have gathered six co sponsors
Speaker 9: of both political parties, Because people all across the country
Speaker 9: are seeing what's happening in states like Arizona and Texas,
Speaker 9: they see migrants coming to their own states in the interior,
Speaker 9: and they know that this system is broken. It's time
Speaker 9: for us to give more opportunity for the administration to
Speaker 9: prepare for the end of Title forty two. In the meantime,
Speaker 9: Senator Tillis and I are continuing to work on our
Speaker 9: bipartisan framework in a bi cameraal way to actually address
Speaker 9: the deeper causes that are creating this problem, So securing
Speaker 9: our border, solving all that you mentioned its about them
Speaker 9: addressed by cameras, and continuing to work to solve this
Speaker 9: in a bipartisan and bicamera way.
Speaker 13: On the subject of being bi cameraal, of course, ahead
Speaker 13: of the end of Title forty two, we did see
Speaker 13: an immigration measure passing in the House. They called it
Speaker 13: the Secured the Border Act. Are there parts of that
Speaker 13: you could get on board with? Where is the opportunity
Speaker 13: here for a compromise?
Speaker 9: Well, it was an important step forward that House Republicans
Speaker 9: passed a border security package. There are parts of that
Speaker 9: package that are very useful, in some parts that aren't
Speaker 9: very practical or helpful.
Speaker 2: But what's important is that there was movement.
Speaker 9: We haven't seen movement in a bi cameraal way in
Speaker 9: over twenty years in Congress on immigration, so this was
Speaker 9: an important first step. Now it'll be no surprise when
Speaker 9: I tell you that I've been working with my colleagues
Speaker 9: in the House for months as they were developing this legislation,
Speaker 9: and we're continuing to work together as the Senate will
Speaker 9: create a bipartisan package to overlay and make changes to
Speaker 9: their piece of legislation and to add in elements that
Speaker 9: are important like asylum reform, visa issues, and our dreamers.
Speaker 9: So we have work to do, but I'm heartened by
Speaker 9: the facts that they're moving forward in.
Speaker 2: Our remaining moments here.
Speaker 6: Senator President Biden has taken fire from both sides of
Speaker 6: the aisle on this issue of the border. What does
Speaker 6: he not understand about this?
Speaker 1: Well?
Speaker 9: I invite President Biden and Vice President Harris to come
Speaker 9: actually visit the Arizona Mexico border. If they were to
Speaker 9: do so, like many of my colleagues have joined me
Speaker 9: in recent months, they'll see the devastation not just to
Speaker 9: our border communities, but to the migrants and those families themselves.
Speaker 9: The reality is the system is broken, and we need
Speaker 9: both enforcement on the part of the administration and changes
Speaker 9: on the part of Congress to fix the law and
Speaker 9: solve this problem once and for all.
Speaker 2: You're listening to Bloomberg Daybreak today, your morning brief on
Speaker 2: the stories making news from Wall Street to Washington and beyond.
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