1 00:00:02,000 --> 00:00:06,240 Speaker 1: Live from our nation's capital. This is Bloomberg Sound on 2 00:00:07,360 --> 00:00:10,440 Speaker 1: the fundamentals are there for inflation. I take for a 3 00:00:10,600 --> 00:00:14,520 Speaker 1: why we don't necessarily need free money and zero interest 4 00:00:14,600 --> 00:00:17,239 Speaker 1: rates forever. Washington at this point doesn't want to add 5 00:00:17,280 --> 00:00:22,360 Speaker 1: regulation to bitcoin. Bloomberg Sound on. The insiders, the influencers, 6 00:00:22,440 --> 00:00:25,639 Speaker 1: the insights. Another six trainon dollars in spending is a 7 00:00:25,680 --> 00:00:28,159 Speaker 1: little hard to imagine right now. Let's look at the 8 00:00:28,200 --> 00:00:32,199 Speaker 1: student loan debt, which is absolutely staggering. The nation does 9 00:00:32,320 --> 00:00:34,479 Speaker 1: need some infrastructure with going. We need to get some 10 00:00:34,520 --> 00:00:37,920 Speaker 1: of this stuff done. Bloomberg Sound on with Joe Matthew 11 00:00:38,320 --> 00:00:43,240 Speaker 1: on Bloomberg Radio Live from Washington, where it's been a 12 00:00:43,360 --> 00:00:47,640 Speaker 1: day Bipartisan agreement announced on infrastructure. As you heard live 13 00:00:47,680 --> 00:00:51,680 Speaker 1: today on Bloomberg Radio, President Biden, a group of ten Senators, 14 00:00:51,720 --> 00:00:56,320 Speaker 1: Republicans and Democrats emerged from a White House meeting with 15 00:00:56,400 --> 00:01:01,960 Speaker 1: a breakthrough. Really good meeting and answer a direct question. 16 00:01:02,000 --> 00:01:04,360 Speaker 1: We have a deal coming up. We'll talk details with 17 00:01:04,400 --> 00:01:08,000 Speaker 1: Bloomberg Government's Emily Wilkins, who spent the day on Capitol Hill, 18 00:01:08,040 --> 00:01:10,880 Speaker 1: will spend time as well with j Timmins. An exclusive 19 00:01:10,880 --> 00:01:14,600 Speaker 1: conversation with the President of the National Association of Manufacturers 20 00:01:14,600 --> 00:01:17,600 Speaker 1: will talk about what this means for his industry for jobs, 21 00:01:18,000 --> 00:01:21,760 Speaker 1: and later our conversation with Congressman Brendan Boyle, Democrat from 22 00:01:21,760 --> 00:01:25,240 Speaker 1: Pennsylvania about the Grand Debate that now begins Joe Matthew 23 00:01:25,319 --> 00:01:28,680 Speaker 1: in Washington, where I think we can say it's officially 24 00:01:28,760 --> 00:01:32,440 Speaker 1: Infrastructure week. Yes, we have a deal, as President Biden 25 00:01:32,480 --> 00:01:35,880 Speaker 1: discussed today in a formal news conference in the East Room, 26 00:01:35,880 --> 00:01:40,080 Speaker 1: please the report that a bipartimal group of senators, five Democrats, 27 00:01:40,120 --> 00:01:43,800 Speaker 1: five Republicans, part of a larger group, has come together 28 00:01:43,880 --> 00:01:47,800 Speaker 1: and forge an agreement that will create millions of American 29 00:01:47,880 --> 00:01:51,800 Speaker 1: jobs and modernize our American infrastructure to compete with the 30 00:01:51,880 --> 00:01:54,120 Speaker 1: rest of the world and only one century. You want 31 00:01:54,120 --> 00:01:57,400 Speaker 1: to pick through details now with Bloomberg Government's Emily Wilkins. 32 00:01:57,400 --> 00:01:59,240 Speaker 1: It's great to have you, Emily. Thanks for all your 33 00:01:59,240 --> 00:02:02,880 Speaker 1: reporting today. Oh yeah, no, I have Look, people have 34 00:02:02,880 --> 00:02:06,400 Speaker 1: been calling infrastructure weeks. They're trying to find a title. 35 00:02:06,640 --> 00:02:09,520 Speaker 1: I E's been offering infrastructure Summer for a while, but 36 00:02:09,880 --> 00:02:11,959 Speaker 1: this is going to be with us well until the 37 00:02:12,040 --> 00:02:15,000 Speaker 1: end of summer, potentially in default. It's it's a it's 38 00:02:15,040 --> 00:02:16,760 Speaker 1: a big step today, but we still have a lot 39 00:02:16,800 --> 00:02:18,680 Speaker 1: to go. Yeah, we're going to roll up our sleeves 40 00:02:18,680 --> 00:02:20,040 Speaker 1: here in the d c v O for the next 41 00:02:20,040 --> 00:02:23,560 Speaker 1: couple of months. Let's talk specifics. They plan here includes 42 00:02:23,600 --> 00:02:28,520 Speaker 1: five hundred seventy nine billion dollars in new spending. An 43 00:02:28,520 --> 00:02:31,440 Speaker 1: important part here, The biggest chunk would go to transportation, 44 00:02:31,480 --> 00:02:35,280 Speaker 1: Emily Rhodes Bridges, tunnels, public transit. Is that all new 45 00:02:35,280 --> 00:02:39,560 Speaker 1: money for so called hard infrastructure. Yes, so the five 46 00:02:39,800 --> 00:02:43,000 Speaker 1: dred seventy nine billion, that is all new spending that 47 00:02:43,120 --> 00:02:45,760 Speaker 1: is meant to be going to projects to bolster what 48 00:02:45,880 --> 00:02:49,080 Speaker 1: we have come to start calling traditional infrastructure, as you 49 00:02:49,160 --> 00:02:51,919 Speaker 1: just pointed out. Joe Rhodes Bridges thinks of that nature. 50 00:02:52,400 --> 00:02:54,520 Speaker 1: The other thing that we're now hearing, and this is 51 00:02:54,560 --> 00:02:58,000 Speaker 1: from Speaker Nancy Closing, Majority Leader Chuck Shoomer and President 52 00:02:58,000 --> 00:03:03,720 Speaker 1: Biden's himself, is that as they move this bipartisan infrastructure bill, 53 00:03:04,160 --> 00:03:08,040 Speaker 1: Democrats are also going to be moving their own Democratic 54 00:03:08,080 --> 00:03:11,440 Speaker 1: backed reconciliation package. And that's some of the quote unquote 55 00:03:11,440 --> 00:03:16,520 Speaker 1: soft infrastructure or human infrastructure items, things like childcare, child 56 00:03:16,560 --> 00:03:21,280 Speaker 1: tax credit, potentially education, expanding healthcare, expanding medicare. So we're 57 00:03:21,280 --> 00:03:23,480 Speaker 1: going to see the details of that bill come out. 58 00:03:23,560 --> 00:03:25,960 Speaker 1: Senator Bernie Sanders is working on that that's got a 59 00:03:26,040 --> 00:03:29,280 Speaker 1: six trillion dollar price tag, and the idea is that 60 00:03:29,320 --> 00:03:32,040 Speaker 1: they want to move those two things together to make 61 00:03:32,040 --> 00:03:34,920 Speaker 1: sure that Progressives stay on board with the plan, because 62 00:03:34,920 --> 00:03:38,880 Speaker 1: if they just move the Biparts and Infrastructure Plan alone, 63 00:03:39,080 --> 00:03:41,680 Speaker 1: there is confirmed that that some progressives say, hey, this 64 00:03:41,760 --> 00:03:43,960 Speaker 1: isn't take en us and we can't support it. Yeah, 65 00:03:43,960 --> 00:03:46,880 Speaker 1: this stuff gets to be pretty complicated, and we're going 66 00:03:46,920 --> 00:03:49,520 Speaker 1: to be digging into this path forward throughout the hour. 67 00:03:49,760 --> 00:03:52,840 Speaker 1: With regard to the Bipartisan Plan, though the White House 68 00:03:52,880 --> 00:03:56,279 Speaker 1: says it's one point two trillion dollars, we've just identified 69 00:03:56,360 --> 00:03:59,440 Speaker 1: five hundred seventy nine billion dollars in new spending. What's 70 00:03:59,440 --> 00:04:03,240 Speaker 1: that other money? Uh, it's old spending. It's it's spending 71 00:04:03,280 --> 00:04:05,840 Speaker 1: that the government would have spent anyway on it. And 72 00:04:05,880 --> 00:04:08,040 Speaker 1: this is this has been a weird work throughout the 73 00:04:08,120 --> 00:04:11,400 Speaker 1: whole negotiating process where Republicans came up with the number 74 00:04:11,440 --> 00:04:14,280 Speaker 1: and they're like, oh, it's it's ex trilliont o hundred billion, 75 00:04:14,400 --> 00:04:17,400 Speaker 1: and it was actually, you know, with new spending, we 76 00:04:17,440 --> 00:04:19,359 Speaker 1: want to make sure where we're being accurate, with that. 77 00:04:19,520 --> 00:04:22,240 Speaker 1: So technically there are provisions in the bill that add 78 00:04:22,279 --> 00:04:24,760 Speaker 1: up to one point to trillion, But just there in 79 00:04:24,839 --> 00:04:28,200 Speaker 1: mind that for I think what billion of that that 80 00:04:28,200 --> 00:04:30,480 Speaker 1: would have been money that the federal government was already 81 00:04:30,480 --> 00:04:33,000 Speaker 1: planning to spend, because remember it's it's not uncommon for 82 00:04:33,040 --> 00:04:37,040 Speaker 1: the federal government to pass highway bills, transportation bills. I mean, 83 00:04:37,120 --> 00:04:39,280 Speaker 1: these are things that in the past have moved through 84 00:04:39,320 --> 00:04:42,239 Speaker 1: in a pretty fide partisan manner. It's just now they're 85 00:04:42,279 --> 00:04:45,039 Speaker 1: trying to bolster it up to really give the economy 86 00:04:45,080 --> 00:04:48,400 Speaker 1: a big boost after the downturn we've experienced over the 87 00:04:48,480 --> 00:04:51,160 Speaker 1: last year and a half of COVID well as you 88 00:04:51,240 --> 00:04:52,960 Speaker 1: put it on Twitter. Now all they have to do 89 00:04:53,000 --> 00:04:55,600 Speaker 1: is agree on a budget resolution, pass that, get all 90 00:04:55,680 --> 00:04:58,599 Speaker 1: damns to agree on a reconciliation package passed that, and 91 00:04:58,760 --> 00:05:02,280 Speaker 1: raise the debt ceiling. Oh, in past spending bills, a 92 00:05:02,320 --> 00:05:06,680 Speaker 1: long hot summer ahead here, Emily, and we're just starting 93 00:05:06,680 --> 00:05:11,640 Speaker 1: to debate around this bipartisan deal. How long could this go? 94 00:05:11,800 --> 00:05:15,240 Speaker 1: You're suggesting fall for this to be wrapped up. Yeah, 95 00:05:15,279 --> 00:05:17,360 Speaker 1: I've been You're talking with people today on the hill, 96 00:05:17,480 --> 00:05:19,800 Speaker 1: other reporters just trying to get a symptom of what 97 00:05:19,880 --> 00:05:22,880 Speaker 1: they think. I mean, this will take time. And let's remember, 98 00:05:23,320 --> 00:05:26,320 Speaker 1: as of now, the the US Senate is gone for 99 00:05:26,400 --> 00:05:29,239 Speaker 1: a two week recest. They won't be back until mid July, 100 00:05:29,839 --> 00:05:32,560 Speaker 1: and then they have an August resets that that's potentially 101 00:05:32,560 --> 00:05:35,120 Speaker 1: coming up. Of course, the disclaimers, all of these could 102 00:05:35,120 --> 00:05:37,880 Speaker 1: be could be cut short at some point. But yeah, 103 00:05:37,960 --> 00:05:40,400 Speaker 1: this is going to take a while because for this 104 00:05:40,560 --> 00:05:44,640 Speaker 1: Democrat back budget reconciliation that we talk about, that can't 105 00:05:44,680 --> 00:05:48,799 Speaker 1: happen until they pass a budget resolution. And the idea 106 00:05:48,920 --> 00:05:51,320 Speaker 1: that oh, because it's Democrat back, it will be easy 107 00:05:51,360 --> 00:05:54,440 Speaker 1: to do, it's just one party is a really a 108 00:05:54,480 --> 00:05:58,479 Speaker 1: false notion because Democrats are pretty far apart on what 109 00:05:58,600 --> 00:06:00,520 Speaker 1: they want to see in a spending package. I mean, 110 00:06:00,560 --> 00:06:03,400 Speaker 1: I was just talking to lawmakers and you hear from 111 00:06:03,560 --> 00:06:07,600 Speaker 1: more moderate lawmakers. Josh Gottenheimer said that he felt proposed 112 00:06:07,640 --> 00:06:11,000 Speaker 1: six trillion package would be too aggressive. But then you're 113 00:06:11,040 --> 00:06:14,200 Speaker 1: hearing from progressives who stables six trillions the floor. We'd 114 00:06:14,240 --> 00:06:16,680 Speaker 1: really like to have a pen trillion dollar package, and 115 00:06:16,680 --> 00:06:18,920 Speaker 1: then a question of what's in the package. And so 116 00:06:19,000 --> 00:06:21,200 Speaker 1: there's still a lot of debate left to do on 117 00:06:21,240 --> 00:06:23,960 Speaker 1: the Democratic side to pass these two bills. And even 118 00:06:23,960 --> 00:06:27,000 Speaker 1: with that five partisan Senateville, everyone's on board, but the 119 00:06:27,120 --> 00:06:29,880 Speaker 1: devil's in the details, and we just haven't seen the 120 00:06:29,960 --> 00:06:33,480 Speaker 1: details yet. So a lot left to get done. And 121 00:06:33,480 --> 00:06:36,280 Speaker 1: and we're we're starting off with with the Senate completely 122 00:06:36,320 --> 00:06:40,880 Speaker 1: abandoning town for two weeks. Bloomberg Government's Emily Wilkins giving 123 00:06:40,960 --> 00:06:43,000 Speaker 1: us a sense of what we're waiting into. Emily, thanks 124 00:06:43,000 --> 00:06:45,960 Speaker 1: again for joining us from Capitol Hill. And we're glad 125 00:06:46,000 --> 00:06:49,320 Speaker 1: to bring in j Timmins, the president of the National 126 00:06:49,320 --> 00:06:53,599 Speaker 1: Association of Manufacturers that joins us exclusively today. The group 127 00:06:53,680 --> 00:06:58,360 Speaker 1: represents more than fourteen thousand companies nearly thirteen million workers 128 00:06:58,480 --> 00:07:01,919 Speaker 1: who stand to benefit from this plan. Jay, welcome to 129 00:07:01,960 --> 00:07:05,200 Speaker 1: Bloomberg Radio. Thank you very much. Joe, good to be here. 130 00:07:05,360 --> 00:07:07,719 Speaker 1: It's great to have you. We've heard time and again 131 00:07:07,839 --> 00:07:10,640 Speaker 1: from the President from lawmakers today supporting this bill. If 132 00:07:10,720 --> 00:07:15,200 Speaker 1: this is a job's plan, what does it mean for workers? Well, 133 00:07:15,200 --> 00:07:18,600 Speaker 1: it is very much a job's plan. I mean we um, 134 00:07:18,760 --> 00:07:22,040 Speaker 1: which which is kind of a double edged sword. Um 135 00:07:22,200 --> 00:07:25,280 Speaker 1: mostly good news. But right now in the economy, we 136 00:07:25,280 --> 00:07:29,880 Speaker 1: were looking at uh open jobs in manufacturing. You add 137 00:07:29,880 --> 00:07:32,800 Speaker 1: onto that construction jobs, that are open. We need people, 138 00:07:33,040 --> 00:07:35,160 Speaker 1: and we need people to actually do these things. I'm 139 00:07:35,200 --> 00:07:38,040 Speaker 1: not saying we shouldn't do this investment. In fact, we've 140 00:07:38,080 --> 00:07:41,760 Speaker 1: been pushing for ironically one point two to one point 141 00:07:41,760 --> 00:07:46,520 Speaker 1: three trillion dollars in spending on infrastructure since the very 142 00:07:46,560 --> 00:07:51,600 Speaker 1: beginning of this debate. Um, we really, honestly, I think 143 00:07:51,640 --> 00:07:54,520 Speaker 1: this is our time. It's been so many years that 144 00:07:54,560 --> 00:07:58,960 Speaker 1: we've been talking about the need for additional investment in infrastructure, 145 00:07:59,480 --> 00:08:01,040 Speaker 1: and I think we're actually on the path to get 146 00:08:01,040 --> 00:08:03,880 Speaker 1: it done. I'm pretty excited about it. The Association out 147 00:08:03,880 --> 00:08:08,840 Speaker 1: with the statements today Manufacturers ready for bold bipartisan infrastructure investment. 148 00:08:09,320 --> 00:08:11,600 Speaker 1: You've suggested in the past that you want to see 149 00:08:11,640 --> 00:08:15,280 Speaker 1: this happen. Obviously your group, your members are behind this. 150 00:08:15,760 --> 00:08:17,640 Speaker 1: But as you point out, this is happening in the 151 00:08:17,640 --> 00:08:20,680 Speaker 1: midst of a worker shortage and in the midst of 152 00:08:20,720 --> 00:08:23,880 Speaker 1: an economic recovery, both of those colliding. As we get 153 00:08:23,920 --> 00:08:25,520 Speaker 1: into the second half of the year. You're out with 154 00:08:25,560 --> 00:08:28,440 Speaker 1: your outlook for the second half. How do you do 155 00:08:28,520 --> 00:08:34,320 Speaker 1: it without labor? Well, you don't. How do you get 156 00:08:34,400 --> 00:08:37,440 Speaker 1: labor to come back? Then? Jay? Yeah, So that's that's 157 00:08:37,480 --> 00:08:41,240 Speaker 1: the question, and that is what we're grappling with. And 158 00:08:41,240 --> 00:08:44,959 Speaker 1: and honestly, this is not a new problem for manufacturers. 159 00:08:45,000 --> 00:08:47,880 Speaker 1: We have Even before the pandemic, we had a half 160 00:08:47,880 --> 00:08:51,200 Speaker 1: of minion jobs open and manufacturingly, we couldn't sill um 161 00:08:51,240 --> 00:08:55,240 Speaker 1: that number dropped too in the midst of the pandemic, 162 00:08:55,280 --> 00:08:57,600 Speaker 1: but we still had a number of jobs that were 163 00:08:57,600 --> 00:09:02,840 Speaker 1: opening today. As I said, number, according to data that's 164 00:09:02,880 --> 00:09:06,959 Speaker 1: been provided by the Manufacturing Institute and Deloitte, will grow 165 00:09:07,040 --> 00:09:10,199 Speaker 1: to about two point one million unfilled jobs if we 166 00:09:10,240 --> 00:09:12,760 Speaker 1: don't do anything about it. At the n A M 167 00:09:12,840 --> 00:09:16,920 Speaker 1: and the Manufacturing Institute, we've kicked off a pretty aggressive campaign, 168 00:09:17,800 --> 00:09:23,160 Speaker 1: really pretty inspired by it. It is. It's called Creators Wanted, 169 00:09:23,640 --> 00:09:27,839 Speaker 1: and it aims to appeal to the next generation of 170 00:09:27,880 --> 00:09:31,920 Speaker 1: the manufacturing workforce by showing them what jobs and manufacturing 171 00:09:32,000 --> 00:09:34,520 Speaker 1: can mean for them and for their families, what modern 172 00:09:34,520 --> 00:09:38,520 Speaker 1: manufacturing is all about. Sometimes there's this outdated vision of 173 00:09:38,520 --> 00:09:41,400 Speaker 1: what manufacturing is like. You know, during my grandfather's day 174 00:09:41,400 --> 00:09:44,480 Speaker 1: he worked in manufacturing. It's nothing like that. It's it's 175 00:09:44,600 --> 00:09:49,520 Speaker 1: very exciting, it's very technology driven. Uh And frankly, every 176 00:09:49,559 --> 00:09:52,640 Speaker 1: time a young person kind of comes into a factory 177 00:09:52,679 --> 00:09:55,120 Speaker 1: and sees what's going on to get pretty excited about it. 178 00:09:55,559 --> 00:09:57,160 Speaker 1: But we've got some work to do. We've got some 179 00:09:57,200 --> 00:09:59,240 Speaker 1: work to do to convince parents that this is a 180 00:09:59,280 --> 00:10:03,320 Speaker 1: good um pathway for success for their kids. And we 181 00:10:03,360 --> 00:10:06,600 Speaker 1: also have to remind everybody that manufacturing pays more than 182 00:10:06,640 --> 00:10:09,040 Speaker 1: any other sector of the economy. Our average wages are 183 00:10:09,040 --> 00:10:12,480 Speaker 1: about two dollars so um, we just need to get 184 00:10:12,520 --> 00:10:14,760 Speaker 1: that message out. When people hear it, they get excited, 185 00:10:14,840 --> 00:10:17,720 Speaker 1: they come into the sector and and uh and they 186 00:10:17,760 --> 00:10:19,760 Speaker 1: want to be a part of it. Talking with j Timmins, 187 00:10:19,840 --> 00:10:22,920 Speaker 1: president of the n a M, the National Association of Manufacturers, 188 00:10:23,440 --> 00:10:26,560 Speaker 1: in a special infrastructure edition here at Bloomberg sound On't 189 00:10:26,559 --> 00:10:29,000 Speaker 1: you here? The President asked about this today. J He said, 190 00:10:29,040 --> 00:10:31,520 Speaker 1: you want workers to come back, pay them more. Is 191 00:10:31,559 --> 00:10:34,559 Speaker 1: it as simple as that? Oh, It's not as simple 192 00:10:34,600 --> 00:10:37,040 Speaker 1: as that. But you know, the President's right, and that's 193 00:10:37,040 --> 00:10:42,120 Speaker 1: why manufacturers have have had really record increases and wages. 194 00:10:42,200 --> 00:10:45,200 Speaker 1: It's been about three point three percent in the last year. 195 00:10:45,240 --> 00:10:48,360 Speaker 1: That is the best that is the best growth rate 196 00:10:48,600 --> 00:10:52,480 Speaker 1: in twenty one years. Um. We've had we've had and 197 00:10:52,600 --> 00:10:56,120 Speaker 1: a lot of this was because Joe, because of tax 198 00:10:56,160 --> 00:10:59,320 Speaker 1: cuts that was really rocket fuel for our sector. And 199 00:10:59,400 --> 00:11:02,480 Speaker 1: you saw record amounts of investment of manufacturing here in 200 00:11:02,480 --> 00:11:05,559 Speaker 1: the United States. You saw record amounts of hiring again, 201 00:11:05,600 --> 00:11:11,080 Speaker 1: the best in twenty years. Um. That followed that in manufacturing, 202 00:11:11,120 --> 00:11:14,000 Speaker 1: and you saw this really exponential wage growth even during 203 00:11:14,000 --> 00:11:17,520 Speaker 1: the pandemic. So I think, you know, I think the 204 00:11:17,559 --> 00:11:19,760 Speaker 1: President is making the point that there's a lot of 205 00:11:19,800 --> 00:11:24,360 Speaker 1: demand out there for for products and the supply is 206 00:11:24,400 --> 00:11:28,440 Speaker 1: restricted because we don't have enough workers. So um, you know, 207 00:11:28,640 --> 00:11:32,360 Speaker 1: we're responding and we're we're raising wages in the sector. 208 00:11:32,640 --> 00:11:36,840 Speaker 1: And the most important thing, though, I think is is 209 00:11:36,880 --> 00:11:42,520 Speaker 1: that we do focus on training and skills opportunities for 210 00:11:42,520 --> 00:11:44,680 Speaker 1: for workers. We've been doing that. We've been up skilling 211 00:11:44,720 --> 00:11:46,720 Speaker 1: our workers to kind of future proof the jobs of 212 00:11:46,760 --> 00:11:49,760 Speaker 1: those who are in the sector, and then providing training 213 00:11:49,760 --> 00:11:54,000 Speaker 1: opportunities like to our Heroes Make America program on military 214 00:11:54,040 --> 00:11:58,439 Speaker 1: basis and and the Fame apprenticeship program. There's lots of 215 00:11:58,480 --> 00:12:01,760 Speaker 1: opportunities for you folks to get involved and plugged into 216 00:12:01,760 --> 00:12:06,160 Speaker 1: the sector. You talk about taxes j and it brings 217 00:12:06,200 --> 00:12:08,520 Speaker 1: us to the question of how to pay for it. 218 00:12:09,160 --> 00:12:12,000 Speaker 1: President Biden was asked about that today in the East 219 00:12:12,040 --> 00:12:13,960 Speaker 1: Room here's what he said. We're gonna do it all 220 00:12:14,040 --> 00:12:19,400 Speaker 1: without raising a cent from earners below four hundred thousand dollars. 221 00:12:20,400 --> 00:12:24,920 Speaker 1: There's no gas tax increase, no fe and electric vehicles. 222 00:12:25,920 --> 00:12:28,640 Speaker 1: And the fact is we're going to help ensure that 223 00:12:28,880 --> 00:12:31,160 Speaker 1: will make sure that everybody in America is in a 224 00:12:31,200 --> 00:12:33,920 Speaker 1: position to be able to do what need be done. 225 00:12:34,040 --> 00:12:37,319 Speaker 1: So if the President says no gas tax and Republicans 226 00:12:37,320 --> 00:12:40,480 Speaker 1: on Capitol Hill say you can't hike the corporate tax rate, 227 00:12:40,480 --> 00:12:42,640 Speaker 1: and they seem pretty dug in on both of those, 228 00:12:43,000 --> 00:12:47,880 Speaker 1: does this become debt? Does this deficit spending? Well, you've 229 00:12:47,920 --> 00:12:53,320 Speaker 1: got several several issues there that are kind of colliding. Um. Look, 230 00:12:53,360 --> 00:12:55,240 Speaker 1: the President has been pretty clear and he's been pretty 231 00:12:55,240 --> 00:12:58,400 Speaker 1: consistent that he doesn't want user fees to pay for 232 00:12:59,120 --> 00:13:03,120 Speaker 1: infrastructure and governments. Um. It has been a long standing 233 00:13:03,160 --> 00:13:08,400 Speaker 1: practice of this country to have users pay for the system. 234 00:13:08,440 --> 00:13:11,640 Speaker 1: But the President is suggesting is really breaking from decades 235 00:13:11,720 --> 00:13:16,680 Speaker 1: of of of practice and doing something a different way. 236 00:13:17,440 --> 00:13:20,720 Speaker 1: He's the president, He's going to make that decision. Obviously, ultimately, 237 00:13:20,800 --> 00:13:23,480 Speaker 1: because he holds the pen that will sign her veto it. 238 00:13:23,960 --> 00:13:30,120 Speaker 1: For manufacturers, I think the President really is is in 239 00:13:30,240 --> 00:13:33,560 Speaker 1: a kind of an odd situation because he wants to 240 00:13:34,920 --> 00:13:38,520 Speaker 1: he wants to increase employment opportunities, and he wants to 241 00:13:38,559 --> 00:13:43,720 Speaker 1: see the economy grow and and you know, be able 242 00:13:43,760 --> 00:13:49,040 Speaker 1: to be a productive economy. But the reverse of what 243 00:13:49,080 --> 00:13:51,680 Speaker 1: we just saw over the last three years, where manufacturers 244 00:13:51,960 --> 00:13:55,880 Speaker 1: invested and hired and and grew their wages, if the 245 00:13:55,920 --> 00:13:59,400 Speaker 1: corporate text is increased, then you're going to see all 246 00:13:59,400 --> 00:14:02,480 Speaker 1: that disappear. And I don't think that's what the president wants. 247 00:14:02,960 --> 00:14:07,080 Speaker 1: So we've been very clear that we want to see 248 00:14:07,080 --> 00:14:10,640 Speaker 1: some alternatives, and we think that converse has listened to 249 00:14:10,720 --> 00:14:14,239 Speaker 1: us and they don't want to risk the manufacturing renaissance 250 00:14:14,280 --> 00:14:17,680 Speaker 1: that's going on right now in this country. So we're 251 00:14:17,720 --> 00:14:20,400 Speaker 1: hopeful that whatever this final packages is not going to 252 00:14:20,480 --> 00:14:23,680 Speaker 1: raise taxes on business. Then you ask about debt, well, 253 00:14:23,920 --> 00:14:27,240 Speaker 1: that's another way that we've funded infrastructure for for decades 254 00:14:27,280 --> 00:14:31,880 Speaker 1: as well. We've funded capital projects that is that is 255 00:14:31,920 --> 00:14:35,360 Speaker 1: the appropriate use of debt. People like, when you buy 256 00:14:35,360 --> 00:14:37,560 Speaker 1: a house, you don't pay cash for it up front. 257 00:14:37,680 --> 00:14:41,440 Speaker 1: Typically you finance it over over twenty or thirty years. 258 00:14:41,840 --> 00:14:45,320 Speaker 1: The same is true with infrastructure. These projects are designed 259 00:14:45,320 --> 00:14:49,280 Speaker 1: and built to last for sixty seventy years, so it 260 00:14:49,320 --> 00:14:52,120 Speaker 1: makes sense to pay for them over time. We would 261 00:14:52,120 --> 00:14:54,760 Speaker 1: like to see a revenue source that's dedicated to the users. 262 00:14:54,920 --> 00:14:58,320 Speaker 1: The President doesn't, but there are ways to debt finance 263 00:14:58,400 --> 00:15:01,360 Speaker 1: these types of projects. I also find it a bit 264 00:15:01,440 --> 00:15:05,880 Speaker 1: hypocritical from some members of Congress who has suddenly gotten 265 00:15:05,960 --> 00:15:08,880 Speaker 1: religion on the issue of debt. We just we just 266 00:15:09,000 --> 00:15:14,440 Speaker 1: debt financed five trillion dollars of general operating expenses. That 267 00:15:14,600 --> 00:15:17,640 Speaker 1: is not typically how you pay for general operating expenses. 268 00:15:17,680 --> 00:15:20,000 Speaker 1: That's that's the page. That's where pay as you go 269 00:15:20,120 --> 00:15:23,280 Speaker 1: really needs to come in. So we do think that 270 00:15:23,320 --> 00:15:27,280 Speaker 1: there's a role for debt in UH in infrastructure financing, 271 00:15:27,920 --> 00:15:30,280 Speaker 1: among other options, and we've outlined those in our Building 272 00:15:30,320 --> 00:15:33,400 Speaker 1: to Win proposal that we released, I think four years ago, 273 00:15:34,000 --> 00:15:36,840 Speaker 1: which folks confined to an am dot org slash Building 274 00:15:36,880 --> 00:15:40,160 Speaker 1: to Win, Jay, we're out of time. You said in 275 00:15:40,200 --> 00:15:43,120 Speaker 1: the past, though, that hiking the corporate tax rate could 276 00:15:43,120 --> 00:15:45,840 Speaker 1: eliminate as many as a million manufacturing jobs. Do you 277 00:15:45,840 --> 00:15:49,600 Speaker 1: still believe that? So it's a million We've we've done, 278 00:15:49,640 --> 00:15:52,480 Speaker 1: we crunched the numbers. We've had some analysts look at 279 00:15:52,480 --> 00:15:55,000 Speaker 1: it as a million jobs in just the first year, 280 00:15:55,160 --> 00:15:58,200 Speaker 1: it's actually six million dollars. So your members are not 281 00:15:58,200 --> 00:16:00,880 Speaker 1: going to stand for a higher tax rate of Well, 282 00:16:00,920 --> 00:16:03,040 Speaker 1: we don't want to lose six million jobs every ten years, 283 00:16:03,040 --> 00:16:06,560 Speaker 1: so no, I don't think anybody does. J. Timmins, president 284 00:16:06,560 --> 00:16:09,360 Speaker 1: of the National Association of Manufacturers, Thanks for a smart talk. 285 00:16:09,360 --> 00:16:12,680 Speaker 1: Thanks for being with us exclusively on Bloomberg Radio. Turned 286 00:16:12,720 --> 00:16:16,080 Speaker 1: to a lawmaker. Now, welcome Congressman Brendan Boyle, a Democrat 287 00:16:16,120 --> 00:16:19,600 Speaker 1: from Pennsylvania. As part of our infrastructure our thank you 288 00:16:19,640 --> 00:16:22,320 Speaker 1: for joining us on a busy day. Congressman, I'm so 289 00:16:22,400 --> 00:16:27,520 Speaker 1: glad it's finally infrastructure hour in America, if not infrastructure summer. 290 00:16:27,600 --> 00:16:30,160 Speaker 1: As our friend Emily Wilkins was saying, you represent part 291 00:16:30,200 --> 00:16:33,320 Speaker 1: of Philadelphia, most of suburban Montgomery County. Will you vote 292 00:16:33,320 --> 00:16:36,360 Speaker 1: for this bill? Yeah? Well, I still want to see 293 00:16:36,600 --> 00:16:39,080 Speaker 1: all the details which need to be fleshed out, but 294 00:16:39,240 --> 00:16:42,320 Speaker 1: I certainly at this point I would be very likely 295 00:16:42,440 --> 00:16:47,800 Speaker 1: to go down this twin track approach. Um. A lot 296 00:16:47,800 --> 00:16:50,560 Speaker 1: of the things that are that are in the outline 297 00:16:50,880 --> 00:16:53,960 Speaker 1: of the infrastructure bill are things that I've been pushing 298 00:16:54,000 --> 00:16:57,080 Speaker 1: for for a long time, including willing to vote on 299 00:16:57,120 --> 00:17:00,640 Speaker 1: a bipartisan basis if if President Trump was willing to 300 00:17:00,760 --> 00:17:03,480 Speaker 1: come out for them, uh four years ago, which would 301 00:17:03,480 --> 00:17:05,880 Speaker 1: have actually been a more challenging vote for me. So 302 00:17:06,280 --> 00:17:10,040 Speaker 1: I'm excited about it. I will say, though, um, we're 303 00:17:10,080 --> 00:17:14,200 Speaker 1: not there yet. And what I mean by that is twofold. First, 304 00:17:15,119 --> 00:17:20,000 Speaker 1: Miss McConnell is the biggest, uh, most successful obstructionists in 305 00:17:20,119 --> 00:17:24,000 Speaker 1: Congress in my lifetime. Let's see what he does in 306 00:17:24,119 --> 00:17:27,359 Speaker 1: terms of those ten Republican senators and whether or not 307 00:17:27,440 --> 00:17:30,240 Speaker 1: they really hold. And then the second challenge is this 308 00:17:30,359 --> 00:17:33,320 Speaker 1: sort of delicate dance that needs to be done with 309 00:17:33,359 --> 00:17:37,320 Speaker 1: both the bipartisan infrastructure bill that was announced today as 310 00:17:37,359 --> 00:17:40,639 Speaker 1: well as the second human infrastructure bill that will be 311 00:17:40,720 --> 00:17:45,680 Speaker 1: strictly on a Democratic reconciliation basis. The dance here is 312 00:17:45,720 --> 00:17:48,840 Speaker 1: going to be important um to getting this past both 313 00:17:48,880 --> 00:17:51,800 Speaker 1: the Senate but then also especially the House where we 314 00:17:51,840 --> 00:17:56,000 Speaker 1: have a very slim majority. President Biden had a message 315 00:17:56,119 --> 00:18:00,920 Speaker 1: today for progressives in the party who have end skeptical 316 00:18:01,200 --> 00:18:04,000 Speaker 1: of his working with Republicans coming up with this deal. 317 00:18:04,080 --> 00:18:08,919 Speaker 1: You mentioned potentially skepticism that the Republican senators in this 318 00:18:09,000 --> 00:18:11,560 Speaker 1: deal stay on board. Here's what the President said. I 319 00:18:11,600 --> 00:18:14,320 Speaker 1: know there are some of my party who discouraged me 320 00:18:14,400 --> 00:18:17,720 Speaker 1: from CQ to degreement with our Republican colleagues who said, 321 00:18:18,359 --> 00:18:22,560 Speaker 1: and we should go bigger and go alone. To them, 322 00:18:22,600 --> 00:18:27,199 Speaker 1: I say this, I've already shown my young presidency, but 323 00:18:27,280 --> 00:18:29,159 Speaker 1: I'm prepared to do whatever needs to get down to 324 00:18:29,200 --> 00:18:31,639 Speaker 1: move the country forward. Congressman Boyle, did he do it 325 00:18:31,680 --> 00:18:34,919 Speaker 1: the right way? Or should he have gone bigger and alone? Now? 326 00:18:35,000 --> 00:18:37,439 Speaker 1: I look, I completely agree with the President and approach 327 00:18:37,560 --> 00:18:40,280 Speaker 1: that he's taken. I think today is a very good day, 328 00:18:40,680 --> 00:18:43,240 Speaker 1: and I felt quite proud as I was watching that 329 00:18:43,320 --> 00:18:46,640 Speaker 1: press conference on the White House grounds. Um. I mean, 330 00:18:46,680 --> 00:18:50,320 Speaker 1: it seemed like what was the old norm um, but 331 00:18:50,400 --> 00:18:53,479 Speaker 1: before the last ever year is a big group working 332 00:18:53,480 --> 00:18:57,680 Speaker 1: together on a bipartisan basis. Hearkening back to an age 333 00:18:57,720 --> 00:19:01,600 Speaker 1: where you had a little bit less in terms of lerization. Um. 334 00:19:01,760 --> 00:19:04,359 Speaker 1: So I think he took exactly the right approach, and 335 00:19:04,400 --> 00:19:06,960 Speaker 1: I'm hoping that over the next month we will get 336 00:19:06,960 --> 00:19:10,720 Speaker 1: there and there'll be as signing ceremony for two truly 337 00:19:10,760 --> 00:19:15,399 Speaker 1: transformative bills. I'm also realistic enough to know that you know, 338 00:19:15,440 --> 00:19:17,600 Speaker 1: we're not quite there yet, but today is a very 339 00:19:17,600 --> 00:19:19,800 Speaker 1: good day. The President went out of his way, as 340 00:19:19,800 --> 00:19:22,280 Speaker 1: did the senators who were with him at the White 341 00:19:22,280 --> 00:19:25,600 Speaker 1: House earlier, that this was a true compromise, that both 342 00:19:25,680 --> 00:19:28,480 Speaker 1: sides gave up stuff they wanted. We're looking at three 343 00:19:28,880 --> 00:19:31,760 Speaker 1: and twelve billion dollars for transportation, the stuff that people 344 00:19:31,800 --> 00:19:33,760 Speaker 1: can get their heads around on both sides of the 345 00:19:33,800 --> 00:19:39,840 Speaker 1: Aisle Rhodes bridges, tunnels, public transit. What is your district need, Congressman, 346 00:19:39,840 --> 00:19:44,240 Speaker 1: And is that enough all of the above and more so? 347 00:19:44,800 --> 00:19:47,840 Speaker 1: It's not I know when I say, I mean, I 348 00:19:47,880 --> 00:19:50,199 Speaker 1: was being a little bit flippant when I say and 349 00:19:50,280 --> 00:19:53,280 Speaker 1: more because in my view, you can't spend enough really 350 00:19:53,359 --> 00:19:56,679 Speaker 1: on on infrastructure. Um. I like the three billion that 351 00:19:56,800 --> 00:19:59,800 Speaker 1: that's outlined in terms of transportation. Actually, I think that 352 00:20:00,000 --> 00:20:03,760 Speaker 1: three hundred billion figure does not include public transit and 353 00:20:03,840 --> 00:20:06,480 Speaker 1: passenger and freight rail, which I saw separated out when 354 00:20:06,480 --> 00:20:13,720 Speaker 1: you add them in, and then another public transit you correct, right, yeah, so, 355 00:20:14,000 --> 00:20:17,080 Speaker 1: which is very important. I mean, representing one of the 356 00:20:17,119 --> 00:20:20,679 Speaker 1: biggest cities in the country. Without our public transit system, 357 00:20:20,720 --> 00:20:24,840 Speaker 1: which is in Philadelphia's accepta, um our economy doesn't run. 358 00:20:24,920 --> 00:20:28,840 Speaker 1: So that's incredibly important. Uh amtrack I say, you know, 359 00:20:28,960 --> 00:20:32,400 Speaker 1: as a user myself in representing a city that's smacked 360 00:20:32,440 --> 00:20:35,720 Speaker 1: ab in the middle of the Northeast corridor. That is 361 00:20:35,760 --> 00:20:42,160 Speaker 1: incredibly important, and frankly, our our rail system lags behind 362 00:20:42,240 --> 00:20:46,119 Speaker 1: almost every one of our European and Asian competitors. But 363 00:20:46,119 --> 00:20:49,440 Speaker 1: I would also point out the traditional roads and bridges. 364 00:20:49,920 --> 00:20:52,320 Speaker 1: You know, five years ago when sixty minutes did report 365 00:20:52,359 --> 00:20:55,959 Speaker 1: about the crumbling infrastructure in the United States. Literally the 366 00:20:55,960 --> 00:20:59,720 Speaker 1: state they came to as exhibit A was Pennsylvania and 367 00:20:59,760 --> 00:21:02,520 Speaker 1: the district they came to as my district, where a 368 00:21:02,600 --> 00:21:06,119 Speaker 1: good part of my which in Philadelphia, is mostly series 369 00:21:06,119 --> 00:21:10,760 Speaker 1: of bridges. It's actually falling apart. So this is needed nationally, 370 00:21:10,920 --> 00:21:13,840 Speaker 1: but I would say that certainly in my city and 371 00:21:13,840 --> 00:21:18,800 Speaker 1: in my district, it is really needed. Electric vehicles. Electric 372 00:21:18,920 --> 00:21:22,119 Speaker 1: vehicle infrastructure that includes a lot of different components, including 373 00:21:22,160 --> 00:21:24,800 Speaker 1: the charging stations. Fifteen billion dollars, it's a lot less 374 00:21:24,800 --> 00:21:27,520 Speaker 1: than the President asked for. How much of an issue 375 00:21:27,720 --> 00:21:31,679 Speaker 1: is that for you? As we continue this conversion away 376 00:21:31,680 --> 00:21:35,520 Speaker 1: from fossil fuels, it's really exciting when you talked to 377 00:21:35,800 --> 00:21:38,879 Speaker 1: as I have, the the US domestic automakers and what 378 00:21:38,960 --> 00:21:41,600 Speaker 1: they're planning to roll out over the next several years. 379 00:21:41,920 --> 00:21:43,600 Speaker 1: I mean, we're going to see over the decade of 380 00:21:43,600 --> 00:21:47,720 Speaker 1: the twenties just an incredible transformation. But in order to 381 00:21:47,800 --> 00:21:53,080 Speaker 1: accelerate that, we need to have a better infrastructure right now. Um, 382 00:21:53,119 --> 00:21:55,320 Speaker 1: you know, a decade ago, I was someone who was 383 00:21:55,359 --> 00:21:58,800 Speaker 1: interested in electric vehicle myself, I realized there wasn't an 384 00:21:58,800 --> 00:22:01,880 Speaker 1: option for me because I've someone who's doing long distance driving. 385 00:22:02,520 --> 00:22:06,240 Speaker 1: Now those electric vehicles are being able to go farther, 386 00:22:06,720 --> 00:22:09,040 Speaker 1: but there still need to be far more charging stations, 387 00:22:09,040 --> 00:22:12,480 Speaker 1: and that's a proper role for government. So I would 388 00:22:12,560 --> 00:22:14,480 Speaker 1: like to see that beefed up in the bill. I 389 00:22:14,520 --> 00:22:17,879 Speaker 1: think the President's number was right on that. Um. I 390 00:22:17,880 --> 00:22:20,480 Speaker 1: wouldn't be surprised though, if they're in that second bill, 391 00:22:20,560 --> 00:22:22,480 Speaker 1: if there's more that we can do in terms of 392 00:22:22,520 --> 00:22:26,919 Speaker 1: accelerating the transition to clean energy. There's a lot of 393 00:22:26,960 --> 00:22:31,439 Speaker 1: Tesla's parked and driveways in suburban Montgomery County, well, you know, 394 00:22:31,520 --> 00:22:34,359 Speaker 1: not just Teslas, to which obviously you know has a 395 00:22:34,400 --> 00:22:38,680 Speaker 1: certain image right as a very sort of upper income 396 00:22:38,760 --> 00:22:41,800 Speaker 1: type person. But now when you see the price points 397 00:22:42,200 --> 00:22:44,959 Speaker 1: of these electric vehicles and where they're projected ahead over 398 00:22:45,000 --> 00:22:48,320 Speaker 1: the next several years, I mean, we're just we're not 399 00:22:48,480 --> 00:22:51,840 Speaker 1: that far away from seeing the time in which there 400 00:22:51,920 --> 00:22:55,159 Speaker 1: is little to no price difference between an electric vehicle 401 00:22:55,400 --> 00:22:58,600 Speaker 1: and your traditional or hybrid vehicle. Just wait for Ford 402 00:22:58,600 --> 00:23:01,199 Speaker 1: and GM to show up. They have big plans in 403 00:23:01,280 --> 00:23:06,240 Speaker 1: the next several years. Congressman Brendan Boyle, Democrat from Pennsylvania, 404 00:23:06,320 --> 00:23:07,879 Speaker 1: I know you're a busy man. Today, I want to 405 00:23:07,880 --> 00:23:10,040 Speaker 1: thank you for joining us as part of our Infrastructure 406 00:23:10,040 --> 00:23:13,119 Speaker 1: Hour on Bloomberg sound on. Yeah. I'm happy to thank you. 407 00:23:14,680 --> 00:23:17,760 Speaker 1: The bipartisan deal on infrastructure that we're talking about wasn't 408 00:23:17,760 --> 00:23:20,880 Speaker 1: asked today. At the White House around lunchtime, the ten 409 00:23:20,960 --> 00:23:23,800 Speaker 1: senators behind the bill emerged from a meeting with the 410 00:23:23,840 --> 00:23:27,600 Speaker 1: President wearing big smiles, and I'm pleased to see today 411 00:23:27,600 --> 00:23:30,440 Speaker 1: we're able to come together on a core infrastructure package. 412 00:23:30,520 --> 00:23:34,600 Speaker 1: This is not non infrastructure items without new taxes, and 413 00:23:34,680 --> 00:23:37,320 Speaker 1: with the commitment from Republicans and Democrats alike that we're 414 00:23:37,320 --> 00:23:39,760 Speaker 1: gonna get this across the finish line. Senator Rob Portman, 415 00:23:39,800 --> 00:23:42,840 Speaker 1: Republican from Ohio earlier in the White House driveway, and 416 00:23:42,840 --> 00:23:46,719 Speaker 1: we're joined now by Brandon Neil, Democratic strategist, senior director 417 00:23:46,760 --> 00:23:50,720 Speaker 1: at APCO, former political director for the Democratic National Committee, 418 00:23:50,720 --> 00:23:54,040 Speaker 1: former advisor to Pete Buddha Jedge, former political director for 419 00:23:54,080 --> 00:23:57,880 Speaker 1: Congresswoman Karen Bass long business Carden as well. Lonnie chan 420 00:23:58,240 --> 00:24:01,280 Speaker 1: fellow in public policy st He's at the Hoover Institution 421 00:24:01,760 --> 00:24:06,080 Speaker 1: and former policy director for Mitt Romney's presidential campaign, has 422 00:24:06,080 --> 00:24:10,000 Speaker 1: also senior advisor to Marco Rubio's campaign four years later. 423 00:24:10,359 --> 00:24:12,320 Speaker 1: So we have a couple of experts with us. Welcome 424 00:24:12,359 --> 00:24:14,720 Speaker 1: to both of you, Lonnie, want to start with you. 425 00:24:15,280 --> 00:24:19,080 Speaker 1: Known as the orchestra leader behind the Romney campaign. Of course, 426 00:24:19,080 --> 00:24:21,720 Speaker 1: Mitt Romney was one of those ten senators behind this deal. 427 00:24:21,840 --> 00:24:24,720 Speaker 1: Was standing there in the driveway and he spoke today 428 00:24:24,760 --> 00:24:26,679 Speaker 1: at the White House. One of the big surprises I 429 00:24:26,720 --> 00:24:29,880 Speaker 1: had coming to Washington was the sense that while everybody 430 00:24:29,920 --> 00:24:31,400 Speaker 1: was fighting with each other, you know what, we get 431 00:24:31,400 --> 00:24:33,560 Speaker 1: along really well. This group gets along very well. My 432 00:24:33,640 --> 00:24:36,440 Speaker 1: colleagues in the Senate we worked together. And it's been 433 00:24:36,520 --> 00:24:38,960 Speaker 1: years and years people have been talking about the infrastructure 434 00:24:39,040 --> 00:24:41,440 Speaker 1: needs of our country. We know that we recognize the 435 00:24:41,480 --> 00:24:44,960 Speaker 1: crumbling infrastructure, and this group came together and actually got 436 00:24:44,960 --> 00:24:47,840 Speaker 1: a job done. Got it done, Lonnie, what's motive annie 437 00:24:47,840 --> 00:24:51,720 Speaker 1: Mitt Romney and his colleagues is nine colleagues to play 438 00:24:51,760 --> 00:24:54,600 Speaker 1: along with the president here. It's a lot easier to 439 00:24:54,640 --> 00:24:59,240 Speaker 1: pendarty your base, it's your leadership. Well, I think there's 440 00:24:59,240 --> 00:25:02,119 Speaker 1: a recognition that infrastructure is one of those issues that 441 00:25:02,160 --> 00:25:05,640 Speaker 1: can benefit both Republicans and Democrats. Republicans and Democrats drive 442 00:25:05,680 --> 00:25:09,159 Speaker 1: on the same roads, they utilize the same infrastructure resources, 443 00:25:09,200 --> 00:25:12,679 Speaker 1: and so it's important for the two sides to come 444 00:25:12,720 --> 00:25:15,080 Speaker 1: together and recognize that there can be mutual benefit in 445 00:25:15,160 --> 00:25:18,159 Speaker 1: doing something like this. In terms of a Senator Romney, 446 00:25:18,000 --> 00:25:20,920 Speaker 1: I think in particular, he has always been someone who 447 00:25:20,960 --> 00:25:23,640 Speaker 1: has been willing to speak his mind and has been 448 00:25:23,640 --> 00:25:26,879 Speaker 1: willing to be involved in in these conversations to to 449 00:25:26,960 --> 00:25:30,240 Speaker 1: get good policy done. And I think that's what's motivating 450 00:25:30,359 --> 00:25:33,600 Speaker 1: people like Rob Portman and others who are involved in 451 00:25:33,640 --> 00:25:36,679 Speaker 1: these discussions, who I think very much are interested in 452 00:25:36,720 --> 00:25:39,040 Speaker 1: getting to the right outcome, and in this case, I 453 00:25:39,040 --> 00:25:41,120 Speaker 1: think they got there as far as we can tell 454 00:25:41,160 --> 00:25:44,560 Speaker 1: from the reporting. The idea of support for a physical 455 00:25:44,680 --> 00:25:48,119 Speaker 1: set of infrastructure reforms that will be that will be 456 00:25:48,119 --> 00:25:51,480 Speaker 1: paid for in substantial part I think that's largely where 457 00:25:51,520 --> 00:25:54,000 Speaker 1: at least the Republicans wanted to get and I think 458 00:25:54,160 --> 00:25:56,440 Speaker 1: they should see this as a success, and Democrats showed 459 00:25:56,440 --> 00:25:58,359 Speaker 1: as well. It's one of the rare opportunities that we 460 00:25:58,400 --> 00:26:01,439 Speaker 1: have to celebrate by partisanship Washington. It sure is. But 461 00:26:01,480 --> 00:26:04,439 Speaker 1: Mitt Romney has been isolated in many cases by his 462 00:26:04,520 --> 00:26:08,119 Speaker 1: own party for for seeking a bipartisan route. What brings 463 00:26:08,200 --> 00:26:12,600 Speaker 1: him back to the table again and in this case again, Well, 464 00:26:12,640 --> 00:26:14,960 Speaker 1: I mean, look, as I said, I think he's interested 465 00:26:14,960 --> 00:26:17,440 Speaker 1: in getting to a solution, and he's always been interested 466 00:26:17,440 --> 00:26:20,040 Speaker 1: in getting to a solution. And that's what you saw here. Uh. 467 00:26:20,080 --> 00:26:22,920 Speaker 1: He saw potential, he saw opportunity, and there were other 468 00:26:22,920 --> 00:26:25,480 Speaker 1: Republicans who joined him in that effort, and other Democrats too, 469 00:26:25,480 --> 00:26:28,080 Speaker 1: I mean, Joe Mansion. Here's some cinema obviously on the left, 470 00:26:28,480 --> 00:26:31,000 Speaker 1: and you know people like Susan Collins and uh and 471 00:26:31,400 --> 00:26:34,159 Speaker 1: Rob Portman who I mentioned earlier, uh, and others on 472 00:26:34,200 --> 00:26:36,320 Speaker 1: the right. So I think this was one of those 473 00:26:36,320 --> 00:26:40,520 Speaker 1: examples of where people saw opportunity. And again, you know, 474 00:26:40,560 --> 00:26:42,840 Speaker 1: you don't have Republican roads or Democratic roads, you just 475 00:26:42,920 --> 00:26:45,359 Speaker 1: have opportunities to bring the two sides together. And I 476 00:26:45,400 --> 00:26:48,800 Speaker 1: think hopefully, uh, the agreement they they reach, we'll get 477 00:26:48,800 --> 00:26:51,359 Speaker 1: across the finish line. Brandon Neil is great to have 478 00:26:51,440 --> 00:26:52,840 Speaker 1: you with us as well. Today. I want to ask 479 00:26:52,840 --> 00:26:55,639 Speaker 1: you about progressives in the Democratic Party who do not 480 00:26:55,800 --> 00:26:59,919 Speaker 1: favor compromise in this case where the President dealing with 481 00:27:00,200 --> 00:27:03,679 Speaker 1: Republicans or trusting Republicans as he said, on their word 482 00:27:04,680 --> 00:27:07,520 Speaker 1: and President Biden, it seemed, had a message for them 483 00:27:07,560 --> 00:27:12,840 Speaker 1: today in talking about the way this is being handled, 484 00:27:12,920 --> 00:27:16,480 Speaker 1: speaking directly to the money that was delivered already to 485 00:27:16,560 --> 00:27:20,760 Speaker 1: many Americans and the money that has yet to come. God, 486 00:27:20,880 --> 00:27:25,840 Speaker 1: the one point nine jillion dollars relief so far whispering 487 00:27:25,840 --> 00:27:27,720 Speaker 1: and they're gonna be getting checks in the mail that 488 00:27:27,760 --> 00:27:32,720 Speaker 1: are consequential this week for childcare. A lot has been 489 00:27:32,760 --> 00:27:36,520 Speaker 1: happened already. Number one, Number two, I'm going to fight 490 00:27:36,600 --> 00:27:39,359 Speaker 1: like heck to get them the rest of what I 491 00:27:39,400 --> 00:27:41,560 Speaker 1: think has to be done. Does Joe Biden, I don't 492 00:27:41,560 --> 00:27:46,000 Speaker 1: know why we're whispering now risk losing progressives in his 493 00:27:46,119 --> 00:27:50,160 Speaker 1: party on this bipartisan deal. Well, first of all, thank 494 00:27:50,160 --> 00:27:53,639 Speaker 1: you for having me. Secondly, uh, I did not you 495 00:27:53,680 --> 00:27:56,040 Speaker 1: didn't mention. I spent all eight years in the Obama 496 00:27:56,040 --> 00:27:59,760 Speaker 1: administration at the US Department of Transportation in the Office 497 00:27:59,760 --> 00:28:03,080 Speaker 1: of the Secondary, so I know infrastructure. I know transportations. 498 00:28:03,320 --> 00:28:08,159 Speaker 1: I need a second page for your bio, Brandon. Oh no, 499 00:28:08,280 --> 00:28:11,800 Speaker 1: it's listen. I know transportation, I know the infrastructure, I 500 00:28:11,840 --> 00:28:13,600 Speaker 1: know how it's done. Today is a great day for 501 00:28:13,680 --> 00:28:15,879 Speaker 1: to buy an administration in terms the putting points on 502 00:28:16,000 --> 00:28:19,600 Speaker 1: the scoreboard in terms of progressive Since day one, he's 503 00:28:19,600 --> 00:28:21,880 Speaker 1: been running on and he's been sharing that he can 504 00:28:21,920 --> 00:28:24,520 Speaker 1: at the office, promising to find common ground to get 505 00:28:24,560 --> 00:28:27,920 Speaker 1: things done, and he's delivering on that promise. So today's 506 00:28:27,960 --> 00:28:31,080 Speaker 1: announcement it's more or less follow up to leave them 507 00:28:31,080 --> 00:28:34,440 Speaker 1: the campaigning on talking about the largest long term investment 508 00:28:34,440 --> 00:28:38,120 Speaker 1: in our infrastructure and our competitiveness in this country, and 509 00:28:38,200 --> 00:28:41,760 Speaker 1: that speaks to our economy, so it could be more sustainable, 510 00:28:41,960 --> 00:28:45,720 Speaker 1: resilient and just and very similar to my colleague said, 511 00:28:46,680 --> 00:28:49,000 Speaker 1: I'm gonna use a quote that a former Secretary Railarhood 512 00:28:49,000 --> 00:28:52,160 Speaker 1: said there is no such thing in a democratic road 513 00:28:52,440 --> 00:28:55,520 Speaker 1: or Republican bridge. So with that said, I think it's 514 00:28:55,520 --> 00:28:58,640 Speaker 1: a wonderful opportunity to bring everyone to the table. You 515 00:28:58,680 --> 00:29:02,240 Speaker 1: only have a minute left before we move on to 516 00:29:02,600 --> 00:29:05,520 Speaker 1: the reconciliation, but I'd like to hear from both of 517 00:29:05,520 --> 00:29:09,200 Speaker 1: you just on the big number here, five hundred seventy 518 00:29:09,280 --> 00:29:11,680 Speaker 1: nine billion dollars, more than three hundred billion of that 519 00:29:11,760 --> 00:29:15,760 Speaker 1: is for transportation. Is that enough, Brandon? That's never enough. 520 00:29:15,800 --> 00:29:17,920 Speaker 1: But I will say this though, I think it will 521 00:29:18,000 --> 00:29:22,080 Speaker 1: bring opportunity for jobs, more jobs for this economy, especially 522 00:29:22,120 --> 00:29:25,240 Speaker 1: for small businesses. So we talk about building this economy, 523 00:29:25,320 --> 00:29:28,400 Speaker 1: about bringing breen new, It's back better. I think it's 524 00:29:28,400 --> 00:29:31,640 Speaker 1: a wonderful opportunity to put more people to work rebuilding 525 00:29:32,080 --> 00:29:34,600 Speaker 1: and also modernizing some of our bridges and some of 526 00:29:34,640 --> 00:29:39,240 Speaker 1: our instructure as well. This is Bloomberg Son On with 527 00:29:39,480 --> 00:29:45,160 Speaker 1: Joe Matthew on Bloomberg Radio Live from Washington. Thank you 528 00:29:45,240 --> 00:29:49,760 Speaker 1: for joining us on a special infrastructure edition of Bloomberg Sound. 529 00:29:49,800 --> 00:29:54,080 Speaker 1: On a bipartisan deal finally reached today by ten senators 530 00:29:54,080 --> 00:29:58,360 Speaker 1: Republicans Democrats, the President says he will not sign that 531 00:29:58,520 --> 00:30:03,840 Speaker 1: bill unless Senate passes his human infrastructure bill through reconciliation. 532 00:30:03,920 --> 00:30:08,040 Speaker 1: And that follows a very similar take earlier in the 533 00:30:08,120 --> 00:30:11,719 Speaker 1: day from how Speaker Nancy Pelosi. She brief reporters before 534 00:30:12,320 --> 00:30:15,000 Speaker 1: we even heard about a deal. In fact, I use 535 00:30:15,080 --> 00:30:20,760 Speaker 1: the word ain't there ain't going to be an infrastructure 536 00:30:20,800 --> 00:30:25,840 Speaker 1: bill unless we have the reconciliation bill passed by the 537 00:30:25,960 --> 00:30:29,480 Speaker 1: United States Senate. We're joined the seller by Brandon Neil, 538 00:30:29,560 --> 00:30:33,520 Speaker 1: democratic strategist, senior director at APCO, former political director for 539 00:30:33,520 --> 00:30:38,080 Speaker 1: the Democratic National Committee the Obama administration, and spent quite 540 00:30:38,080 --> 00:30:40,600 Speaker 1: a number of years at the Transportation Department. Lottie Chan 541 00:30:40,800 --> 00:30:43,800 Speaker 1: is also here, currently with the Hoover Institution, former policy 542 00:30:43,800 --> 00:30:50,480 Speaker 1: director for Mitt Romney's presidential campaign in among others. Brandon 543 00:30:50,960 --> 00:30:52,960 Speaker 1: Joe Biden has made it clear he will not sign 544 00:30:53,120 --> 00:30:57,240 Speaker 1: the bill without his human Infrastructure Bill moving through reconciliation. 545 00:30:57,320 --> 00:31:01,800 Speaker 1: This is a delicate dance. Will it work. I believe 546 00:31:01,840 --> 00:31:05,000 Speaker 1: in our president, and I believe in our leader, and 547 00:31:05,040 --> 00:31:07,320 Speaker 1: I do think it will work. I do think. However, 548 00:31:08,080 --> 00:31:11,040 Speaker 1: it is tricky looking at any time you do reconciliation, 549 00:31:11,040 --> 00:31:14,560 Speaker 1: and it's always it's always a tricky uh pieces. Considering 550 00:31:15,080 --> 00:31:19,240 Speaker 1: the move on filibustering, you know, filibustering is something that 551 00:31:19,240 --> 00:31:23,840 Speaker 1: has always been historically, uh, something negative as related to 552 00:31:24,320 --> 00:31:27,080 Speaker 1: passion things because of the history of it. It was 553 00:31:27,120 --> 00:31:31,000 Speaker 1: trailibustering during the Civil rights at selibustering pre reconstruction as 554 00:31:31,040 --> 00:31:35,720 Speaker 1: well too, and those filibustering laws, so to speak. We're 555 00:31:35,800 --> 00:31:40,200 Speaker 1: there to prevent people, uh, particularly people of color. Are 556 00:31:40,240 --> 00:31:43,440 Speaker 1: those working class people from moving ahead. So in this 557 00:31:43,560 --> 00:31:46,240 Speaker 1: particular case, you know, if we have people, if the 558 00:31:46,360 --> 00:31:52,120 Speaker 1: Democrats who are uh supportive, addition to on the other 559 00:31:52,160 --> 00:31:54,440 Speaker 1: side as well too, I think we could die. We 560 00:31:54,480 --> 00:31:56,400 Speaker 1: could possibly do it, But I do have faith in 561 00:31:56,480 --> 00:32:00,720 Speaker 1: the president and face my leadership. Do you think about 562 00:32:00,800 --> 00:32:03,960 Speaker 1: this strategy? Is is it workable? And and how about 563 00:32:04,080 --> 00:32:09,440 Speaker 1: Brandon's point on the filibuster, Well, it's workable to the 564 00:32:09,480 --> 00:32:11,760 Speaker 1: extent that Democrats could do it if they wanted to. 565 00:32:12,000 --> 00:32:15,640 Speaker 1: They have the votes obviously to advance a budget reconciliation 566 00:32:15,680 --> 00:32:18,680 Speaker 1: package on a party line vote in the Senate, and uh, 567 00:32:18,840 --> 00:32:20,560 Speaker 1: you don't get that across the finish line. I think 568 00:32:20,560 --> 00:32:25,160 Speaker 1: the question is does that compromise the ability of them 569 00:32:25,200 --> 00:32:28,280 Speaker 1: to garner Republican support on this infrastructure package. I think 570 00:32:28,280 --> 00:32:32,360 Speaker 1: a number of Republicans are um are leery frankly of 571 00:32:32,560 --> 00:32:36,200 Speaker 1: going along with this package if one of the preconditions 572 00:32:36,240 --> 00:32:40,040 Speaker 1: for it is that at Nancy Pelosi says that the 573 00:32:40,480 --> 00:32:42,600 Speaker 1: infrastructure bill can't come to the floor of the House 574 00:32:43,120 --> 00:32:47,120 Speaker 1: until they've got a reconciliation package first, And you know, 575 00:32:47,160 --> 00:32:48,800 Speaker 1: I think Republicans will see that as an act of 576 00:32:48,840 --> 00:32:51,520 Speaker 1: bad faith, and I think a number of them, uh, 577 00:32:51,680 --> 00:32:54,040 Speaker 1: you know, as a result, probably won't sign on. Now, 578 00:32:54,040 --> 00:32:57,360 Speaker 1: will it be enough to jeopardize the infrastructure package? I'm 579 00:32:57,400 --> 00:33:00,520 Speaker 1: not sure because remember you've already got five or Publicans 580 00:33:00,560 --> 00:33:04,280 Speaker 1: who are supporting the infrastructure package because they helped negotiate it, 581 00:33:04,800 --> 00:33:07,480 Speaker 1: and you know, getting another five probably wouldn't be that difficult. 582 00:33:07,960 --> 00:33:11,880 Speaker 1: But if Democrats insist on this sort of notion of 583 00:33:11,920 --> 00:33:15,200 Speaker 1: doing reconciliation first, uh, you know, it may get a 584 00:33:15,200 --> 00:33:17,800 Speaker 1: little bit harder to get those five Republicans on the 585 00:33:17,840 --> 00:33:22,600 Speaker 1: margin to pass infrastructure in the traditional way. So I 586 00:33:22,640 --> 00:33:25,200 Speaker 1: think Democrats will be very careful not to overplay their hand. 587 00:33:25,360 --> 00:33:27,920 Speaker 1: I think they have an opportunity here to score when win, 588 00:33:28,480 --> 00:33:30,880 Speaker 1: and it's a question of sequencing and timing and what 589 00:33:30,920 --> 00:33:33,360 Speaker 1: the President decides to do. So this could come down 590 00:33:33,480 --> 00:33:37,080 Speaker 1: to just a couple of votes. It sounds like, Lonnie, 591 00:33:37,120 --> 00:33:39,600 Speaker 1: what do you make of the number? Uh? I wanted 592 00:33:39,600 --> 00:33:42,960 Speaker 1: to ask you this earlier billion dollars When it comes 593 00:33:43,040 --> 00:33:46,360 Speaker 1: time to actually debate this, how would you be advising 594 00:33:46,480 --> 00:33:50,920 Speaker 1: Republican lawmakers? Is that enough money? Well? Yeah, I think 595 00:33:50,960 --> 00:33:53,640 Speaker 1: that given the amount of fiscal stimulus we've had over 596 00:33:53,680 --> 00:33:56,720 Speaker 1: the last several months. It's enticing to think that five 597 00:33:57,160 --> 00:33:59,440 Speaker 1: seventy nine billion or or order, the final figure they 598 00:33:59,480 --> 00:34:02,720 Speaker 1: arrived at not substantial. It is It is that a 599 00:34:02,760 --> 00:34:05,600 Speaker 1: substantial amount of money. Um. You know, the package as 600 00:34:05,600 --> 00:34:07,840 Speaker 1: a whole, according to some estimates, is going to be 601 00:34:07,840 --> 00:34:11,080 Speaker 1: priced over a trillion dollars. There was a day in 602 00:34:11,080 --> 00:34:13,520 Speaker 1: in not too distant memory when a trillion dollars with 603 00:34:13,560 --> 00:34:16,000 Speaker 1: a lot of money, and so there there is a 604 00:34:16,000 --> 00:34:18,799 Speaker 1: lot in here for physical infrastructure. I'm just seeing in fact, 605 00:34:19,000 --> 00:34:21,640 Speaker 1: a fact sheet that's coming across from the senators who 606 00:34:21,880 --> 00:34:24,520 Speaker 1: were involved in the negotiations. There's a lot of investment 607 00:34:24,560 --> 00:34:27,120 Speaker 1: here and things we need in our country physical infrastructure, 608 00:34:27,160 --> 00:34:30,600 Speaker 1: water infrastructure, things that are badly needed in urban areas, 609 00:34:30,680 --> 00:34:34,279 Speaker 1: rural areas. So you would hope that the Democrats don't 610 00:34:34,280 --> 00:34:36,960 Speaker 1: compromise this by trying to stuff more into the package 611 00:34:37,360 --> 00:34:39,520 Speaker 1: when there's been an agreement already on an amount of 612 00:34:39,520 --> 00:34:41,759 Speaker 1: money that Republicans are comfortable with and believed can be 613 00:34:41,800 --> 00:34:46,359 Speaker 1: paid for. Brandon Neil, as we consider the Human Infrastructure Bill, 614 00:34:46,440 --> 00:34:48,520 Speaker 1: as I guess people are now calling it, that's what 615 00:34:48,520 --> 00:34:52,480 Speaker 1: we're gonna go with. Uh. The President talked about this 616 00:34:52,800 --> 00:34:55,600 Speaker 1: today as well, and he was in the driveway with 617 00:34:55,680 --> 00:34:59,359 Speaker 1: the ten senators looking at his Republican colleagues. He put 618 00:34:59,400 --> 00:35:02,239 Speaker 1: his hand on Rob Portman's shoulder and he said, you know, 619 00:35:02,400 --> 00:35:05,760 Speaker 1: not everybody's on board with this. Republicans and this group 620 00:35:05,840 --> 00:35:08,360 Speaker 1: did not want to go along with one of my 621 00:35:08,480 --> 00:35:12,640 Speaker 1: family plan issues, that childcare tax credits, the human infrastructure, 622 00:35:12,600 --> 00:35:15,799 Speaker 1: and I talked about and uh that we'll see what 623 00:35:15,880 --> 00:35:18,680 Speaker 1: happens in a reconciliation, build on the budget process, and 624 00:35:18,840 --> 00:35:22,759 Speaker 1: start talking about human infrastructure, the carrying economy, some of 625 00:35:22,800 --> 00:35:25,080 Speaker 1: the semantics we've been hearing from the White House and 626 00:35:25,160 --> 00:35:30,160 Speaker 1: from Democrats on Capitol Hill. Brandon, do we need to 627 00:35:30,200 --> 00:35:34,160 Speaker 1: define this more specifically before we bring this to the 628 00:35:34,200 --> 00:35:37,440 Speaker 1: American people the sales pitch. I can only assume we'll 629 00:35:37,480 --> 00:35:38,680 Speaker 1: have a lot to do with this. How do we 630 00:35:38,800 --> 00:35:48,560 Speaker 1: define human infrastructure? Brandon? And you're still with us, Yeah, yeah, 631 00:35:49,480 --> 00:35:52,000 Speaker 1: how do you define human infrastructure in this case? And 632 00:35:52,040 --> 00:35:54,600 Speaker 1: do we need to be more specific about it? So 633 00:35:54,680 --> 00:35:56,920 Speaker 1: when I hear it, I hear it goes back to 634 00:35:57,080 --> 00:35:59,799 Speaker 1: his original campaign slogan of build back better, a vision 635 00:35:59,840 --> 00:36:03,200 Speaker 1: of reality for Americans, And so I think immediately of 636 00:36:03,320 --> 00:36:05,920 Speaker 1: some of the things that are not necessarily are weren't 637 00:36:05,920 --> 00:36:09,000 Speaker 1: considered a part of roads, bridges and infrastructure, but something 638 00:36:09,080 --> 00:36:12,359 Speaker 1: that we became heavily reliable on during this patch here 639 00:36:12,480 --> 00:36:15,280 Speaker 1: during obviously during the COVID, so like high speed internet 640 00:36:15,640 --> 00:36:19,920 Speaker 1: and having making sure that broadband adoptions and broad bandability 641 00:36:20,200 --> 00:36:24,600 Speaker 1: and capability and access is for all Americans, making sure 642 00:36:24,920 --> 00:36:28,239 Speaker 1: that jobs are available as well to the expansion of 643 00:36:28,360 --> 00:36:31,239 Speaker 1: renewable energy. I think about energy and clean water and 644 00:36:31,360 --> 00:36:35,839 Speaker 1: areas that particularly weren't always u scene as having clean water, 645 00:36:36,120 --> 00:36:38,360 Speaker 1: and I think this is an opportunity to really the 646 00:36:38,440 --> 00:36:41,320 Speaker 1: level of playing field for for everyone. So as it 647 00:36:41,360 --> 00:36:44,000 Speaker 1: relates to human infrastructure, I think we brought in the 648 00:36:44,200 --> 00:36:47,440 Speaker 1: term uh and it's no longer just the roads and bridges, 649 00:36:47,480 --> 00:36:51,880 Speaker 1: but other daily activities that affect our lives. You know, 650 00:36:52,040 --> 00:36:54,040 Speaker 1: you look at transit, you also have to think about 651 00:36:54,239 --> 00:36:57,239 Speaker 1: urban areas and communities, what people take the train and 652 00:36:57,280 --> 00:36:59,239 Speaker 1: get to work or take the bus to get to work, 653 00:36:59,400 --> 00:37:02,760 Speaker 1: and so these particular areas are not at its best 654 00:37:03,160 --> 00:37:05,960 Speaker 1: or it's a broken down system, but in effectually everyday 655 00:37:06,000 --> 00:37:08,480 Speaker 1: person in the human life. A lot of those items 656 00:37:08,520 --> 00:37:11,320 Speaker 1: though broadband, for instance, you've got sixty five billion dollars 657 00:37:11,320 --> 00:37:14,000 Speaker 1: for broadband. There's a lot of money for clean water 658 00:37:14,120 --> 00:37:17,880 Speaker 1: in the in the so called hard infrastructure bill, Lonnie 659 00:37:17,960 --> 00:37:24,320 Speaker 1: is the sale two Republicans on human infrastructure already lost. 660 00:37:24,560 --> 00:37:27,160 Speaker 1: I haven't heard a republic lawmaker at least we've had 661 00:37:27,200 --> 00:37:29,919 Speaker 1: on Bloomberg Radio warm up to this, even if it's 662 00:37:30,000 --> 00:37:32,440 Speaker 1: regard to childcare, to get people back to work or 663 00:37:32,440 --> 00:37:35,840 Speaker 1: however it's frank, Yeah, you know, I think it's going 664 00:37:35,880 --> 00:37:38,640 Speaker 1: to be a very tough sell. I think that there 665 00:37:38,680 --> 00:37:41,560 Speaker 1: are a number of progressive priorities that are included in 666 00:37:42,239 --> 00:37:45,719 Speaker 1: UH in the President's he wants to call it human infrastructure, 667 00:37:45,719 --> 00:37:48,120 Speaker 1: you can call it a progressive wish list as well. 668 00:37:48,160 --> 00:37:50,520 Speaker 1: I think there's a number of ideas in there that 669 00:37:50,480 --> 00:37:52,839 Speaker 1: the Republicans have made very clear from day one there 670 00:37:52,920 --> 00:37:54,239 Speaker 1: they're not going to support, and they're not going to 671 00:37:54,280 --> 00:37:57,600 Speaker 1: support for policy reasons because it's bad policy, but also 672 00:37:57,640 --> 00:38:00,919 Speaker 1: because in some cases it's it's simply a fist really unsustainable. 673 00:38:01,160 --> 00:38:03,680 Speaker 1: For whatever reason you oppose it, though, it is pretty 674 00:38:03,680 --> 00:38:09,040 Speaker 1: clear that that pursuing this approach again of advancing you know, 675 00:38:09,120 --> 00:38:11,880 Speaker 1: one package and making that a prerequisite for considering that 676 00:38:11,920 --> 00:38:14,680 Speaker 1: bipartisan deal on physical infrastructure. That to me as a 677 00:38:14,719 --> 00:38:18,120 Speaker 1: recipe for failure. And if the President wanted bipartisan win, 678 00:38:18,160 --> 00:38:20,359 Speaker 1: there's an easy bipartisan win sitting in front of him 679 00:38:20,440 --> 00:38:23,319 Speaker 1: right now. He can claim victory and work on the 680 00:38:23,360 --> 00:38:26,160 Speaker 1: other stuff down the road. He's got opportunities to do that. So, 681 00:38:26,560 --> 00:38:28,960 Speaker 1: you know, I think they can be politically smart about it, 682 00:38:29,160 --> 00:38:31,360 Speaker 1: and hopefully they'll do that, But they may not have 683 00:38:31,400 --> 00:38:34,080 Speaker 1: a choice. Nancy Pelosi and and the progressives in the 684 00:38:34,120 --> 00:38:36,600 Speaker 1: House may not give the president that choice. They may 685 00:38:36,640 --> 00:38:39,919 Speaker 1: in fact insist on, as Pelosi has done so far, 686 00:38:40,000 --> 00:38:43,120 Speaker 1: insist on this uh you know, so called human infrastructure 687 00:38:43,160 --> 00:38:46,000 Speaker 1: bill coming first. And I think that sequencing again would 688 00:38:46,040 --> 00:38:48,239 Speaker 1: be a recipe for disaster for the president. Well, and 689 00:38:48,239 --> 00:38:50,600 Speaker 1: the President did make clear he's he's on board with that, 690 00:38:50,680 --> 00:38:53,680 Speaker 1: that that is the path that has been chosen there 691 00:38:53,760 --> 00:38:57,239 Speaker 1: in agreement on both sides of Pennsylvania Avenue. Can I 692 00:38:57,280 --> 00:38:59,880 Speaker 1: ask you both before you leave about the timeline he 693 00:39:00,280 --> 00:39:04,799 Speaker 1: will this take until fall? Brandon Neil, I don't think so. 694 00:39:04,920 --> 00:39:07,640 Speaker 1: I think that we're in a good space. I think, uh, 695 00:39:07,880 --> 00:39:10,600 Speaker 1: through conversations of Bullshi, I think the President and the 696 00:39:10,680 --> 00:39:13,640 Speaker 1: Vice President are doing a great job bringing both parties 697 00:39:13,640 --> 00:39:17,440 Speaker 1: together as we saw this past twenty four hours. Do 698 00:39:17,520 --> 00:39:21,560 Speaker 1: I think it will happen before they go on recess? 699 00:39:22,040 --> 00:39:25,480 Speaker 1: You know? Uh, I'm for yes, I'm being positive, so 700 00:39:25,520 --> 00:39:28,359 Speaker 1: I will sue for the future. So, yes, we're talking 701 00:39:28,360 --> 00:39:33,200 Speaker 1: about votes in July, Lonnie Chen, Is that realistic? Well, 702 00:39:33,239 --> 00:39:35,040 Speaker 1: it's a tight time frame. The Senate is not in 703 00:39:35,080 --> 00:39:37,080 Speaker 1: all that much in July, so if they're going to 704 00:39:37,160 --> 00:39:38,880 Speaker 1: get it through the Senate by July, they've got to 705 00:39:38,920 --> 00:39:41,480 Speaker 1: move quickly and work out some of these details, particularly 706 00:39:41,520 --> 00:39:47,200 Speaker 1: on the financing of the package. Brandon Neil Democratic strategists, 707 00:39:47,360 --> 00:39:52,880 Speaker 1: Lonnie Chen at the Hoover Institution, Republican policy strategist and advisor. 708 00:39:53,320 --> 00:39:55,360 Speaker 1: It's great to have both of you with us today 709 00:39:55,360 --> 00:39:59,000 Speaker 1: on Bloomberg Sound On. Thanks for your insights. We're just 710 00:39:59,040 --> 00:40:06,719 Speaker 1: getting started with this whole thing. Months likely left in 711 00:40:06,760 --> 00:40:14,160 Speaker 1: this debate. Don't make the president whisper again the one 712 00:40:14,360 --> 00:40:17,680 Speaker 1: point nine billion dollars. We're going to be back with 713 00:40:17,760 --> 00:40:19,839 Speaker 1: more of this tomorrow, of course, as we work our 714 00:40:19,880 --> 00:40:24,600 Speaker 1: way through what's gonna be infrastructure summer and a special 715 00:40:24,760 --> 00:40:29,240 Speaker 1: edition of Bloomberg Sound On our infrastructure. Our so glad 716 00:40:29,239 --> 00:40:31,600 Speaker 1: that you could spend time with us as we learn 717 00:40:31,640 --> 00:40:34,880 Speaker 1: a little bit together every day here on sound On 718 00:40:34,960 --> 00:40:38,480 Speaker 1: I'm Joe Matthew in Washington. We'll check the markets, will 719 00:40:38,560 --> 00:40:41,840 Speaker 1: check traffic straight ahead right here on Bloomberg