1 00:00:03,480 --> 00:00:07,760 Speaker 1: Live from our nation's capital. This is Bloomberg Sound On. 2 00:00:08,360 --> 00:00:10,760 Speaker 1: The parties are divided in terms of the effect that 3 00:00:10,800 --> 00:00:13,640 Speaker 1: the stimulus is going to have. This inflation debate has 4 00:00:13,720 --> 00:00:16,560 Speaker 1: really been heating up, the effect of what the Biden 5 00:00:16,560 --> 00:00:22,040 Speaker 1: administration is spending on political capital. Bloomberg Sound On the insiders, 6 00:00:22,160 --> 00:00:25,759 Speaker 1: the influencers, the insides, A group of centrists are the 7 00:00:25,880 --> 00:00:29,400 Speaker 1: key senators to watch. Jill Biden give number one focus 8 00:00:29,400 --> 00:00:32,839 Speaker 1: in addition to the COVID health crisis is jobs. I 9 00:00:32,840 --> 00:00:35,680 Speaker 1: don't quickly have red roads and blue roads, and that's 10 00:00:35,680 --> 00:00:38,760 Speaker 1: the way we're looking at this. Schoomberg Sound On with 11 00:00:38,840 --> 00:00:44,760 Speaker 1: Kevin surrel on Bloomberg Radio. A lucky lineup. We check 12 00:00:44,840 --> 00:00:49,600 Speaker 1: in as Senator Kevin Kramer of North Dakota to talk infrastructure. 13 00:00:49,760 --> 00:00:52,360 Speaker 1: My name is Kevin Currelian the chief Washington correspondent for 14 00:00:52,440 --> 00:00:56,240 Speaker 1: Bloomberg Television and for Bloomberg Radio. We begin tonight with 15 00:00:56,360 --> 00:01:00,040 Speaker 1: the big story that day in the Nation's capital. The 16 00:01:00,120 --> 00:01:03,120 Speaker 1: Chairman of the Federal Reserve, Jerome Powell, says that despite 17 00:01:03,560 --> 00:01:08,160 Speaker 1: the sharp acceleration toward herd immunity thanks to a ramped 18 00:01:08,200 --> 00:01:11,160 Speaker 1: up COVID vaccine rate, the FED will not be making 19 00:01:11,200 --> 00:01:14,800 Speaker 1: any adjustments to interest rates anytime soon. Take a listen 20 00:01:14,840 --> 00:01:16,919 Speaker 1: to the sound on this from fed Share J. Powell. 21 00:01:17,240 --> 00:01:19,720 Speaker 1: The paths of virus continues to be very important. We 22 00:01:19,840 --> 00:01:23,160 Speaker 1: we have these, um you know, new strains with which 23 00:01:23,200 --> 00:01:26,520 Speaker 1: which can be very quite virulent. Uh. And we're not 24 00:01:26,600 --> 00:01:30,360 Speaker 1: actually done yet. Meanwhile, did you see this interview that 25 00:01:30,440 --> 00:01:35,080 Speaker 1: President Biden gave to ABC News is George Stephanopolis. He 26 00:01:35,160 --> 00:01:37,319 Speaker 1: was asked about whether or not he is going to 27 00:01:37,600 --> 00:01:42,640 Speaker 1: increase taxes amongst earners earning or Americans earning more than 28 00:01:42,680 --> 00:01:45,640 Speaker 1: four hundred thousand dollars. Take a listen to the sound 29 00:01:45,680 --> 00:01:49,520 Speaker 1: on this from President Biden on taxes, anybody making more 30 00:01:49,560 --> 00:01:52,760 Speaker 1: than four hundred thousand dollars will see a small to 31 00:01:52,800 --> 00:01:55,640 Speaker 1: a significant tax increase. If you make lesson four hundred 32 00:01:55,640 --> 00:01:57,960 Speaker 1: thousand as you won't see it one single penny in 33 00:01:58,040 --> 00:02:01,040 Speaker 1: additional federal tax. He went on to talk about the 34 00:02:01,080 --> 00:02:04,600 Speaker 1: recently signed American Rescue Plan, the one point nine trillion 35 00:02:04,640 --> 00:02:08,440 Speaker 1: dollar stimulus plan, and the tax credits that are included 36 00:02:08,480 --> 00:02:12,200 Speaker 1: in it. President Biden said that he's hoping Republicans will 37 00:02:12,240 --> 00:02:15,920 Speaker 1: support future efforts to cut taxes for most other Americans. 38 00:02:16,000 --> 00:02:19,280 Speaker 1: More on taxes from President Biden. I may not get, 39 00:02:19,680 --> 00:02:22,040 Speaker 1: but I'll get the Democratic boats for a tax increase 40 00:02:22,360 --> 00:02:24,240 Speaker 1: if we just took the tax right back to what 41 00:02:24,320 --> 00:02:28,440 Speaker 1: it was when Bush was president. Top grade paid thirty 42 00:02:28,520 --> 00:02:31,760 Speaker 1: nine point six in federal taxes that would raise two 43 00:02:32,080 --> 00:02:37,000 Speaker 1: thirty billion dollars. Yep, they're complaining because I'm providing a 44 00:02:37,600 --> 00:02:41,400 Speaker 1: tax credit for childcare. I mean, this interview was really 45 00:02:41,680 --> 00:02:45,160 Speaker 1: really expansive, and coming up, we're gonna play a little 46 00:02:45,200 --> 00:02:47,600 Speaker 1: bit more of that interview that President Biden did with 47 00:02:48,360 --> 00:02:50,040 Speaker 1: ABC News and what do you had to say about 48 00:02:50,120 --> 00:02:54,240 Speaker 1: Russia in particular. Geopolitics back in focus, but we began 49 00:02:54,320 --> 00:02:57,640 Speaker 1: again with the economy. Earlier today, I was up on 50 00:02:57,680 --> 00:03:02,400 Speaker 1: Capitol Hill for an exclusive converse station with Senator Kevin Kramer. 51 00:03:02,760 --> 00:03:07,040 Speaker 1: He is a Republican from North Dakota and he is 52 00:03:07,040 --> 00:03:09,519 Speaker 1: a member of the Senate Banking Committee, and I asked 53 00:03:09,600 --> 00:03:12,560 Speaker 1: him about the legislation that he introduced that would stop banks, 54 00:03:12,600 --> 00:03:16,760 Speaker 1: he says, from discriminating discriminating against legal industries. These f 55 00:03:16,880 --> 00:03:20,120 Speaker 1: d i C banks that he says are unfairly forcing 56 00:03:20,120 --> 00:03:23,360 Speaker 1: out some industries like coal, for example. I asked him 57 00:03:23,400 --> 00:03:25,600 Speaker 1: to explain what the bill does through the prism of 58 00:03:25,639 --> 00:03:28,440 Speaker 1: the current state of the economic economy that we find 59 00:03:28,440 --> 00:03:30,440 Speaker 1: ourselves in and take a listen to what he told me. 60 00:03:31,120 --> 00:03:33,440 Speaker 1: So what it would do is it would prohibit banks 61 00:03:33,760 --> 00:03:39,040 Speaker 1: from creating categorical exclusions and industries entire industries, firearms industry, 62 00:03:39,240 --> 00:03:45,360 Speaker 1: fossil fuel, carbon industries, um, private prisons, you know industries 63 00:03:45,400 --> 00:03:49,280 Speaker 1: that the banks in many banks, large banks have categorically 64 00:03:49,400 --> 00:03:52,200 Speaker 1: um stated they are not going to support in the future. 65 00:03:52,640 --> 00:03:57,119 Speaker 1: And these are legal commerce you know, these are profitable 66 00:03:57,280 --> 00:04:00,440 Speaker 1: you know companies. I'm just saying that you can't scriminate 67 00:04:00,480 --> 00:04:02,600 Speaker 1: that way if you're an FDIC insured bank, and if 68 00:04:02,600 --> 00:04:05,040 Speaker 1: you do, you should probably lose your insurance. I want 69 00:04:05,040 --> 00:04:07,000 Speaker 1: to be crystal clear on this because there are some 70 00:04:07,040 --> 00:04:09,960 Speaker 1: capitalists who say capitalism ought to have a conscience and 71 00:04:09,960 --> 00:04:13,440 Speaker 1: that and that if they are privately funded or and 72 00:04:13,600 --> 00:04:16,160 Speaker 1: individuals deserve to put their money where they want to 73 00:04:16,200 --> 00:04:19,280 Speaker 1: put their money. Are you saying that the government just 74 00:04:19,320 --> 00:04:23,280 Speaker 1: shouldn't be able to to codify where folks can put 75 00:04:23,279 --> 00:04:27,039 Speaker 1: their money. Well, I'm saying any institution that enjoys the 76 00:04:27,080 --> 00:04:29,719 Speaker 1: backing of the federal government and the backing of the 77 00:04:29,760 --> 00:04:32,640 Speaker 1: taxpayers shouldn't be picking the winners and losers based on 78 00:04:32,680 --> 00:04:36,760 Speaker 1: anything other than the traditional cost benefit analysis and risk 79 00:04:37,240 --> 00:04:42,520 Speaker 1: analysis into the established criteria and rather than say this 80 00:04:43,040 --> 00:04:47,640 Speaker 1: wopeness or this pressure they're getting from proxies and advocacy groups. Um, 81 00:04:48,000 --> 00:04:50,280 Speaker 1: you know if unless, of course you don't want to 82 00:04:50,320 --> 00:04:53,080 Speaker 1: be FDIC insured, and of course that would have native impact. 83 00:04:53,080 --> 00:04:55,200 Speaker 1: How is this impact of the energy sector in order? Yea. 84 00:04:55,320 --> 00:04:58,160 Speaker 1: So so energy is a good example, because energies it 85 00:04:58,160 --> 00:05:01,000 Speaker 1: takes a lot of capital, whether you know, drilling a 86 00:05:01,040 --> 00:05:04,440 Speaker 1: well in the box and building an interstate pipeline. Um, 87 00:05:04,520 --> 00:05:09,159 Speaker 1: you know gas wells, coal mining utilities that maybe want 88 00:05:09,200 --> 00:05:12,640 Speaker 1: to retrofit their large uh you know they're large boiler 89 00:05:12,760 --> 00:05:17,359 Speaker 1: with clean coal technologies for example. Um, those take a 90 00:05:17,360 --> 00:05:19,520 Speaker 1: lot of capital. It takes all kinds of capital, you know, 91 00:05:19,560 --> 00:05:23,200 Speaker 1: equity capital and traditional financing and things like that. And 92 00:05:23,279 --> 00:05:25,400 Speaker 1: so you could put you know, you could put them 93 00:05:25,440 --> 00:05:27,560 Speaker 1: out of business. And what you'd be doing by that 94 00:05:27,680 --> 00:05:30,800 Speaker 1: is you'd be driving those same industries and businesses to 95 00:05:30,880 --> 00:05:33,680 Speaker 1: other countries that don't have the same type of high 96 00:05:33,720 --> 00:05:36,360 Speaker 1: standards of environmental protection that we do. In let's talk 97 00:05:36,360 --> 00:05:39,839 Speaker 1: about pipelines, let's talk about whole UHA lawmakers just passed 98 00:05:39,839 --> 00:05:42,599 Speaker 1: at one point nine trillion dollars stimulus bill. There's no 99 00:05:42,680 --> 00:05:46,680 Speaker 1: money for retraining. This new administration has proposed executive orders 100 00:05:46,720 --> 00:05:50,040 Speaker 1: that have that are clear shifts from the previous administration 101 00:05:50,200 --> 00:05:54,480 Speaker 1: on energy policy. Are you concerned about retraining purposes not 102 00:05:54,560 --> 00:05:58,599 Speaker 1: just for uh college age and newly graduate individuals, but 103 00:05:58,600 --> 00:06:01,200 Speaker 1: people in their forties, their fifties, their sixties who are 104 00:06:01,200 --> 00:06:05,080 Speaker 1: working in an energy environment that now is being restructured. Well, 105 00:06:05,120 --> 00:06:07,200 Speaker 1: I'm worried. Not only am I worried about them not 106 00:06:07,240 --> 00:06:09,360 Speaker 1: being able to be retrained, I'm worried about the fact 107 00:06:09,360 --> 00:06:12,640 Speaker 1: that they should be. You know, they are in legal, good, 108 00:06:12,760 --> 00:06:17,680 Speaker 1: solid industries with innovators who have made America more prosperous. 109 00:06:17,880 --> 00:06:21,520 Speaker 1: They've made they've made the world safer. Our national security 110 00:06:21,600 --> 00:06:23,720 Speaker 1: is dependent to a great degree on our on our 111 00:06:23,800 --> 00:06:27,679 Speaker 1: energy security, and so um I find the whole notion 112 00:06:27,920 --> 00:06:32,440 Speaker 1: of undoing America's energy dominance and retreating and acquiescing to 113 00:06:32,440 --> 00:06:34,920 Speaker 1: other countries ridiculous. I hear you on that point, but 114 00:06:35,160 --> 00:06:38,120 Speaker 1: I have to push here, should you and should lawmakers 115 00:06:38,120 --> 00:06:40,320 Speaker 1: on both sides of the I'll be doing more and 116 00:06:40,360 --> 00:06:43,920 Speaker 1: pushing for more funds in order for retraining purposes, especially 117 00:06:43,920 --> 00:06:46,920 Speaker 1: when the shift has already occurred in the first month. 118 00:06:47,440 --> 00:06:50,039 Speaker 1: I'm a strong advocate for that. Anyway, I'd much rather, 119 00:06:50,279 --> 00:06:55,839 Speaker 1: you know, uh, invest in people's education than their incarceration. Um. Frankly, 120 00:06:55,880 --> 00:06:58,000 Speaker 1: I think that in the education system in our country, 121 00:06:58,040 --> 00:07:00,719 Speaker 1: we ought to put more money towards skill training. We 122 00:07:00,760 --> 00:07:03,960 Speaker 1: have to put more emphasis towards training people to do 123 00:07:04,000 --> 00:07:06,280 Speaker 1: the jobs that are available, rather than the jobs they 124 00:07:06,279 --> 00:07:08,960 Speaker 1: wish they that were available. So I think we could, 125 00:07:09,480 --> 00:07:12,760 Speaker 1: in a by partisan fashion look at that very closely. Infrastructure. 126 00:07:12,800 --> 00:07:15,040 Speaker 1: How how are lawmakers are gonna pay for it? I 127 00:07:15,040 --> 00:07:17,280 Speaker 1: think there's their upwards at three trillion dollars on less 128 00:07:17,280 --> 00:07:20,320 Speaker 1: thants are putting in this set. Well, it all depends 129 00:07:20,360 --> 00:07:21,960 Speaker 1: on the perspective you bring. But if you look at 130 00:07:22,000 --> 00:07:24,520 Speaker 1: the fact that we just borrow two trillion dollars to 131 00:07:24,640 --> 00:07:26,960 Speaker 1: just cast this big wide and net and do all 132 00:07:27,040 --> 00:07:30,360 Speaker 1: kinds of crazy things, um, you know, borrowing it wouldn't 133 00:07:30,360 --> 00:07:33,040 Speaker 1: be a bad idea in that context. However, I don't 134 00:07:33,080 --> 00:07:34,480 Speaker 1: think there are a lot of Republicans who want to 135 00:07:34,480 --> 00:07:37,400 Speaker 1: borrow any more trillions of dollars to add to the 136 00:07:37,520 --> 00:07:41,840 Speaker 1: already depleting However, Um, Highway Trust Fund. We need to 137 00:07:41,880 --> 00:07:43,880 Speaker 1: figure out a way. I think one of the ways 138 00:07:43,920 --> 00:07:47,320 Speaker 1: with regard to to surface transportation is to find some 139 00:07:47,440 --> 00:07:49,960 Speaker 1: way to charge all of the users of the highway, 140 00:07:49,960 --> 00:07:52,800 Speaker 1: including electric vehicles. As you know that the trust fund 141 00:07:52,920 --> 00:07:55,760 Speaker 1: is going down because gas demand is going down, but 142 00:07:56,200 --> 00:07:58,720 Speaker 1: miles are not, we have to find a different way 143 00:07:58,760 --> 00:08:02,080 Speaker 1: to formulate that um. But I also think we ought 144 00:08:02,080 --> 00:08:03,840 Speaker 1: to get creative. I think we have to look at 145 00:08:03,880 --> 00:08:07,440 Speaker 1: things like, for example, fossil field development on federal lands. 146 00:08:07,520 --> 00:08:09,720 Speaker 1: Rather than shutting it down, how about we find it 147 00:08:10,000 --> 00:08:13,160 Speaker 1: use it as a way to appropriately fund the Highway 148 00:08:13,160 --> 00:08:17,280 Speaker 1: Trust Fund and other infrastructure. A lot of infrastructure can 149 00:08:17,320 --> 00:08:19,520 Speaker 1: be done by the private sector if you just get 150 00:08:19,720 --> 00:08:21,520 Speaker 1: get out of their way, rather than make it more 151 00:08:21,560 --> 00:08:24,200 Speaker 1: expensive to do things like pipelines. This is fascinating to 152 00:08:24,240 --> 00:08:27,280 Speaker 1: me because I think right there is the ideological debate 153 00:08:27,360 --> 00:08:30,520 Speaker 1: and difference that will shape the infrastructure debate as we 154 00:08:30,560 --> 00:08:33,360 Speaker 1: move forward. The other week I interviewed Senator Elizabeth Warren. 155 00:08:33,559 --> 00:08:38,319 Speaker 1: She is proposed, as you know, increasing taxes on billionaires 156 00:08:38,360 --> 00:08:41,280 Speaker 1: as well as the ultru wealthy. The administration, including Secretary 157 00:08:41,360 --> 00:08:44,000 Speaker 1: Yellow and have proposed in many ways raising the corporate 158 00:08:44,000 --> 00:08:48,120 Speaker 1: tax rate. Back to what I'm hearing from you is 159 00:08:48,160 --> 00:08:51,280 Speaker 1: that that would drive foreign investment and other investment and 160 00:08:51,360 --> 00:08:54,360 Speaker 1: capital away from the United States, and that there's other solutions. 161 00:08:54,400 --> 00:08:56,640 Speaker 1: There's no question. I mean, take the corporate income tax 162 00:08:56,880 --> 00:08:59,560 Speaker 1: going from twenty one to eight. Remember the reason that 163 00:08:59,679 --> 00:09:02,000 Speaker 1: we had such a solid economy prior to the pandemic 164 00:09:02,000 --> 00:09:04,400 Speaker 1: and the reason why it's growing so quickly back to 165 00:09:04,480 --> 00:09:07,440 Speaker 1: that now is because we were able to lower corporate 166 00:09:07,480 --> 00:09:09,440 Speaker 1: interest rates as well as other things. We made it 167 00:09:09,480 --> 00:09:14,200 Speaker 1: easier to repatriate, you know, stranded US funds that were 168 00:09:14,320 --> 00:09:17,880 Speaker 1: that were generated overseas um with our tax structure. To 169 00:09:18,280 --> 00:09:20,760 Speaker 1: go backwards on that at a time like this, well 170 00:09:20,800 --> 00:09:24,800 Speaker 1: at anytime, seems completely counterproductive. The final topic, just on 171 00:09:24,960 --> 00:09:28,960 Speaker 1: from a national security perspective, on the semi conductor chip shortage. 172 00:09:29,040 --> 00:09:32,320 Speaker 1: That host of different committees, including the Banking Committee, has 173 00:09:32,440 --> 00:09:37,520 Speaker 1: has started to discuss diversifying the supply chain away from China. Um. 174 00:09:37,559 --> 00:09:41,200 Speaker 1: There are some minerals in your state, how how do 175 00:09:41,360 --> 00:09:45,120 Speaker 1: you is that an area by partnerisanship that you think 176 00:09:45,280 --> 00:09:47,920 Speaker 1: there could be some cohesion on, especially in a week 177 00:09:47,920 --> 00:09:51,280 Speaker 1: where Secretary Blinket is traveling overseas well, so there are 178 00:09:51,280 --> 00:09:53,880 Speaker 1: a couple of things are but particularly the threat of China. 179 00:09:54,120 --> 00:09:57,200 Speaker 1: The threat of China has become a very bipartisan issue. 180 00:09:57,679 --> 00:09:59,400 Speaker 1: It took some people a while to get there, but 181 00:09:59,480 --> 00:10:02,080 Speaker 1: that is becoming low hanging fruit for those who like 182 00:10:02,160 --> 00:10:04,200 Speaker 1: to see bipartisan work, and I think you're going to 183 00:10:04,200 --> 00:10:06,160 Speaker 1: see some of that here soon. I think when it 184 00:10:06,160 --> 00:10:09,160 Speaker 1: comes to rare earth minerals and and that are necessary 185 00:10:09,200 --> 00:10:13,000 Speaker 1: for chip manufacturing, for example, the vulnerability of American supply 186 00:10:13,120 --> 00:10:17,720 Speaker 1: chains and lots of industries, including the chip industry, including pharmaceuticals, 187 00:10:17,720 --> 00:10:21,040 Speaker 1: including food. We've seen that vulnerability and what that can 188 00:10:21,080 --> 00:10:23,000 Speaker 1: do to us. Why we act, We asked a lot 189 00:10:23,040 --> 00:10:27,040 Speaker 1: of this stuff. It previously is unfortunate. I don't know why, 190 00:10:27,080 --> 00:10:29,200 Speaker 1: but now it's time to get it back. So I 191 00:10:29,240 --> 00:10:31,280 Speaker 1: do think there's a lot of biparts and support for 192 00:10:31,320 --> 00:10:33,439 Speaker 1: things like that. Senator House, Carson Wentzton and since he 193 00:10:33,559 --> 00:10:36,480 Speaker 1: left My Birds, Carson Wentz the last guy conversation I 194 00:10:36,480 --> 00:10:38,319 Speaker 1: had a couple of weeks ago. He's fired up, ready 195 00:10:38,360 --> 00:10:42,560 Speaker 1: to play for UM Super Bowl and when the see 196 00:10:42,640 --> 00:10:45,160 Speaker 1: Christine Barrada, our executive producer, just cut off the end 197 00:10:45,160 --> 00:10:48,480 Speaker 1: of that Carson Wentz talk because that was a clear 198 00:10:48,520 --> 00:10:51,079 Speaker 1: shot from Senator Kevin Kramer to the other Keev Kevin 199 00:10:51,080 --> 00:10:54,719 Speaker 1: Surreally that Carson Wentz needed a different team to win 200 00:10:54,720 --> 00:10:57,400 Speaker 1: the Super Bowl. Someone make the case that the Eagles 201 00:10:57,400 --> 00:11:00,720 Speaker 1: needed a new quarterback to uh to in a Super Bowl. 202 00:11:01,080 --> 00:11:05,280 Speaker 1: Jeanie Shanzano is with us. She is the Bloomberg Politics contributor. 203 00:11:05,280 --> 00:11:06,920 Speaker 1: You're happy St. Patrick's say, Jennie, what do you think 204 00:11:06,920 --> 00:11:10,000 Speaker 1: of the interview, your analysis? Happy St. Patrick's day to you, 205 00:11:10,280 --> 00:11:13,240 Speaker 1: I think that the issue of the Fair Access to 206 00:11:13,320 --> 00:11:15,840 Speaker 1: Banking Act is one that fascinates me. So I was 207 00:11:15,880 --> 00:11:19,000 Speaker 1: so happy you started there, but that you got through 208 00:11:19,000 --> 00:11:21,120 Speaker 1: so many other things too. But to me, it is 209 00:11:21,160 --> 00:11:25,760 Speaker 1: fascinating that you see Republicans here taking an issue and 210 00:11:25,880 --> 00:11:28,040 Speaker 1: you know, it's something I think that could lead to 211 00:11:28,080 --> 00:11:30,800 Speaker 1: a slippery slope. We've certainly heard. So I'm fascinated by 212 00:11:30,880 --> 00:11:33,920 Speaker 1: his answer to that, well exactly. We'll have much more 213 00:11:33,920 --> 00:11:56,400 Speaker 1: coming up next. I'm Kevin Surreley. This is Bloomberg. This 214 00:11:56,880 --> 00:12:01,319 Speaker 1: is Bloomberg Sound On with Kevin Surrele on Bloomberg Radio. 215 00:12:02,320 --> 00:12:05,920 Speaker 1: My name is Kevin CURRELLI. I'm the chief Washington correspondent 216 00:12:05,960 --> 00:12:10,440 Speaker 1: for Bloomberg Television and for Bloomberg Radio, accompanied by none 217 00:12:10,480 --> 00:12:14,360 Speaker 1: other then Bill McGinley, principal at the Vogel Group, former 218 00:12:14,440 --> 00:12:18,200 Speaker 1: White House Cabinets Secretary, and former Deputy Council at the 219 00:12:18,280 --> 00:12:23,959 Speaker 1: Republican National Committee, and of course Bloomberg Politics contributor Gannie 220 00:12:24,000 --> 00:12:28,520 Speaker 1: Sean zan No Genie. I've got my green shamrock socks 221 00:12:28,559 --> 00:12:32,640 Speaker 1: on and my green tie in honor of St. Patrick's Day. 222 00:12:32,720 --> 00:12:36,520 Speaker 1: I know you're Irish. I'm fifty percent Irish and Italian, 223 00:12:36,559 --> 00:12:38,520 Speaker 1: A hundred percent on my mom's side, a percent on 224 00:12:38,559 --> 00:12:41,240 Speaker 1: my dad's side. But you know you got your green on. 225 00:12:41,760 --> 00:12:43,720 Speaker 1: I have my green on, and you know I'm the 226 00:12:43,800 --> 00:12:47,840 Speaker 1: same as you. I'm gonna split, but I've got my 227 00:12:47,920 --> 00:12:52,080 Speaker 1: green on today, and I'm wishing everybody happy St. Patrick's Day, 228 00:12:52,120 --> 00:12:54,160 Speaker 1: and hoping next year we have a parade here in 229 00:12:54,200 --> 00:12:56,840 Speaker 1: New York City again and all across the country. Because 230 00:12:56,840 --> 00:12:59,400 Speaker 1: I missed that. You know, I always say, I grew 231 00:12:59,480 --> 00:13:01,839 Speaker 1: up in an iron Italian Catholic household. It was hard 232 00:13:01,840 --> 00:13:04,760 Speaker 1: to get a word in edgewise. So I saved up 233 00:13:04,800 --> 00:13:10,679 Speaker 1: for a radio shown And my mother, Chicken, that's her name, 234 00:13:10,720 --> 00:13:12,319 Speaker 1: she said to me the other week. keV I should 235 00:13:12,320 --> 00:13:14,720 Speaker 1: have a radio show. I thought, here we go. You 236 00:13:14,760 --> 00:13:17,120 Speaker 1: know I've belong said your mother should have a show, 237 00:13:17,200 --> 00:13:21,600 Speaker 1: so you know, give her an inch, she'll take him. 238 00:13:21,640 --> 00:13:25,559 Speaker 1: I love your mom. All right, let's talk geopolitics. Um, 239 00:13:26,360 --> 00:13:28,120 Speaker 1: she's the Irish mother, so you know I gotta give 240 00:13:28,120 --> 00:13:30,040 Speaker 1: her a shout up. Let's talk to geopolitics. Did you 241 00:13:30,120 --> 00:13:33,000 Speaker 1: see this Bill and Genie that President Byning. He gave 242 00:13:33,040 --> 00:13:35,080 Speaker 1: this interview with ABC News. I thought it was a 243 00:13:35,080 --> 00:13:39,320 Speaker 1: fascinating interview. Kudos to George Stephanopolis. I mean, it was 244 00:13:39,760 --> 00:13:42,040 Speaker 1: really fascinating. This was the sot as we call it 245 00:13:42,080 --> 00:13:44,360 Speaker 1: in the biz, that really jumped out at me because 246 00:13:44,360 --> 00:13:47,800 Speaker 1: I've got sound on this in Russia. President Biden. Sound 247 00:13:47,880 --> 00:13:51,319 Speaker 1: on Russia because he said he talked to Russian President 248 00:13:51,360 --> 00:13:55,360 Speaker 1: Vladimir Putin about election meddling back in January, but he 249 00:13:55,440 --> 00:13:59,880 Speaker 1: also believes that Putin is responsible for other human rights abuses. 250 00:14:00,520 --> 00:14:04,240 Speaker 1: Take a listen to the sound on this exchange, President Biden, 251 00:14:04,280 --> 00:14:08,679 Speaker 1: George stefanoflist talking about Russia. So you know Vladim Reputin, 252 00:14:08,679 --> 00:14:11,600 Speaker 1: you think he's a killer? I do, So what price 253 00:14:11,679 --> 00:14:13,880 Speaker 1: must he pay? The price is going to pay? Well, 254 00:14:13,960 --> 00:14:19,520 Speaker 1: you'll see shortly. Wow, Bill McGinley, your reaction. It sounds 255 00:14:19,560 --> 00:14:22,960 Speaker 1: like the Biden administrations putting its focus squarely on Russia, 256 00:14:23,000 --> 00:14:25,520 Speaker 1: will keeping an eye on China. Look, I think you 257 00:14:25,520 --> 00:14:28,360 Speaker 1: know that the intelligence community has come out with a 258 00:14:28,360 --> 00:14:31,280 Speaker 1: couple of reports saying that Russia has engaged in election 259 00:14:31,320 --> 00:14:36,760 Speaker 1: meddling in UH and obviously back in UM. The Biden 260 00:14:36,800 --> 00:14:39,360 Speaker 1: administration in a way ran on a platform that they 261 00:14:39,360 --> 00:14:41,680 Speaker 1: were going to stand up to Russia UM as a 262 00:14:41,720 --> 00:14:45,040 Speaker 1: result of the of the information contained in those reports. 263 00:14:45,120 --> 00:14:47,760 Speaker 1: I think the President Biden laid down a clear marker. 264 00:14:47,840 --> 00:14:49,880 Speaker 1: Now he's going to have to follow through. I would 265 00:14:49,920 --> 00:14:52,160 Speaker 1: have much rather seen him take a more measured approach 266 00:14:52,800 --> 00:14:55,960 Speaker 1: in that response. It was a very strident question, UM, 267 00:14:56,040 --> 00:14:58,040 Speaker 1: and we're just gonna have to see what they come forward. 268 00:14:58,080 --> 00:14:59,680 Speaker 1: Was but he's set a pretty high bar on how 269 00:14:59,720 --> 00:15:02,000 Speaker 1: he's to deal with Russia going forward on these issues, 270 00:15:02,280 --> 00:15:05,520 Speaker 1: and that that sound bite, uh A, Genie really jumped 271 00:15:05,560 --> 00:15:07,160 Speaker 1: out of me. I mean I had to. I had to. 272 00:15:07,560 --> 00:15:10,040 Speaker 1: When I saw the headline across the Bloomberg terminal earlier 273 00:15:10,360 --> 00:15:13,720 Speaker 1: this morning, I thought, wow, I mean I actually went 274 00:15:14,080 --> 00:15:16,800 Speaker 1: you here in the audio and the video, it even 275 00:15:17,040 --> 00:15:19,280 Speaker 1: I think illustrates the point further than the than the 276 00:15:19,280 --> 00:15:22,240 Speaker 1: transcript it does. And you know, this is calls him 277 00:15:22,240 --> 00:15:24,720 Speaker 1: a killer. He called him a killer, and this is 278 00:15:24,760 --> 00:15:27,119 Speaker 1: and I agree with that. It was a strident response. 279 00:15:27,200 --> 00:15:29,880 Speaker 1: And let's not forget you know, I kept thinking about 280 00:15:30,000 --> 00:15:33,400 Speaker 1: Obama with his red line. Very very difficult to lay 281 00:15:33,400 --> 00:15:36,320 Speaker 1: out a line like that, because now you have set 282 00:15:36,360 --> 00:15:39,320 Speaker 1: the bar. And I just want to also note we 283 00:15:39,400 --> 00:15:42,440 Speaker 1: need to work with Russia on things like the upcoming 284 00:15:42,480 --> 00:15:46,160 Speaker 1: withdrawal from Afghanistan. So you're using language like that on 285 00:15:46,200 --> 00:15:49,040 Speaker 1: the one hand, and yet we are working with them 286 00:15:49,080 --> 00:15:52,280 Speaker 1: in terms of what to do about Afghanistan. Those that 287 00:15:52,360 --> 00:15:55,280 Speaker 1: makes this very very complicated, and I'm curious to see 288 00:15:55,560 --> 00:15:57,960 Speaker 1: how he balances both of those. And it's not just 289 00:15:58,040 --> 00:16:00,840 Speaker 1: Afghanistan that we work with Russia on as well. Bill, 290 00:16:00,960 --> 00:16:05,200 Speaker 1: you do this so uh greatly in terms of your analysis. 291 00:16:05,280 --> 00:16:08,720 Speaker 1: And so I said this to my colleague Tom Keen 292 00:16:08,800 --> 00:16:11,160 Speaker 1: on Bloomberg Surveillance earlier in the week. But I want 293 00:16:11,200 --> 00:16:13,720 Speaker 1: to raise this issue here. On the one hand, you 294 00:16:13,760 --> 00:16:19,320 Speaker 1: get this development from President Biden talking about Russia at 295 00:16:19,360 --> 00:16:22,400 Speaker 1: the same time his Secretary of State, the nation's top diplomat, 296 00:16:22,960 --> 00:16:26,440 Speaker 1: is traveling overseas and and meeting with allies, and meeting 297 00:16:26,440 --> 00:16:32,680 Speaker 1: with Japan on on China, and this, from my reporting, 298 00:16:32,960 --> 00:16:36,600 Speaker 1: I think would be the most pressing week and so 299 00:16:36,680 --> 00:16:41,600 Speaker 1: far in Joe and President Biden's uh A time in office, 300 00:16:41,720 --> 00:16:45,680 Speaker 1: just as Secretary Blinkin is traveling and meeting in Alaska 301 00:16:46,000 --> 00:16:50,720 Speaker 1: tomorrow with his counterparts in Beijing, and now President Biden 302 00:16:50,960 --> 00:16:54,040 Speaker 1: is using language like killer for for Russia President Vladimir 303 00:16:54,040 --> 00:16:56,960 Speaker 1: Putin just try to capture that moment for US and 304 00:16:57,040 --> 00:17:00,160 Speaker 1: the significance of that, I think Number one, it's a 305 00:17:00,240 --> 00:17:03,000 Speaker 1: very consequential week. I mean, with the President laying down 306 00:17:03,760 --> 00:17:05,800 Speaker 1: the marker on Russia at the same time that the 307 00:17:05,880 --> 00:17:09,439 Speaker 1: US delegation is going to meet the Chinese delegation, and 308 00:17:09,440 --> 00:17:12,520 Speaker 1: the Chinese have already said their primary ask in that 309 00:17:12,560 --> 00:17:16,160 Speaker 1: meeting is going to be to completely change the US 310 00:17:16,240 --> 00:17:20,239 Speaker 1: policy for China uh in economic terms. And so there 311 00:17:20,280 --> 00:17:22,679 Speaker 1: are some very high stakes going on with each of 312 00:17:22,720 --> 00:17:26,600 Speaker 1: these meetings, and the Biden administration is once again being 313 00:17:26,640 --> 00:17:31,159 Speaker 1: reminded um that these geopolitical forces that we currently have 314 00:17:31,480 --> 00:17:35,240 Speaker 1: in this pandemic are multidimensional and that this is not 315 00:17:35,280 --> 00:17:36,760 Speaker 1: going to be These are not going to be easy 316 00:17:36,800 --> 00:17:40,159 Speaker 1: waters to navigate, and the Biden administration is going to 317 00:17:40,240 --> 00:17:43,080 Speaker 1: have to keep the pressure on China, both in terms 318 00:17:43,080 --> 00:17:46,520 Speaker 1: of the information warfare that's going on, uh the economic 319 00:17:46,560 --> 00:17:49,679 Speaker 1: warfare that's going on, but also a lot of the 320 00:17:49,680 --> 00:17:52,520 Speaker 1: aggressive moves that China is making in the South China 321 00:17:52,600 --> 00:17:55,719 Speaker 1: Sea and Russia continuing to be as aggressive as they 322 00:17:55,760 --> 00:18:00,479 Speaker 1: are um in terms of their cyber attacks. And these 323 00:18:00,520 --> 00:18:03,359 Speaker 1: are high stakes, high stakes, and the stakes continued to 324 00:18:03,359 --> 00:18:05,040 Speaker 1: get higher much more. Coming off next with the All 325 00:18:05,040 --> 00:18:26,000 Speaker 1: Star Policy Panel. I'm Kevin Siley. This is Bloomberg broadcasting 326 00:18:26,080 --> 00:18:31,399 Speaker 1: live from our nation's capital, Bloomberg to New York, Bloomberg eleven, 327 00:18:31,480 --> 00:18:36,879 Speaker 1: Frio to San Francisco, Bloomberg to the Country, Sirius XM 328 00:18:36,960 --> 00:18:40,720 Speaker 1: General one ninety and around the globe, the Bloomberg Business 329 00:18:40,720 --> 00:18:45,480 Speaker 1: app and Bloomberg Radio dot Com. This is Bloomberg Sound 330 00:18:45,520 --> 00:18:51,399 Speaker 1: On with Kevin Cirelli. A former journalist turns into a 331 00:18:51,560 --> 00:18:57,399 Speaker 1: house member. Don't miss my exclusive conversation with Florida Republican 332 00:18:57,520 --> 00:19:01,560 Speaker 1: Congresswoman Maria Salazar. You do not want to miss this interview. 333 00:19:01,600 --> 00:19:04,760 Speaker 1: She's a rising star in Republican politics and she just 334 00:19:04,880 --> 00:19:07,960 Speaker 1: visited the US Mexico border my name is Kevin c Reli. 335 00:19:07,960 --> 00:19:11,120 Speaker 1: I'm the chief Washington correspondent for Bloomberg Television and for 336 00:19:11,240 --> 00:19:15,800 Speaker 1: Bloomberg Radio. I'm accompanied none other than by Janie Schanzo, 337 00:19:15,840 --> 00:19:19,720 Speaker 1: Bloomberg Politics contributor, and Bill McGinley, who is former Deputy 338 00:19:19,760 --> 00:19:23,600 Speaker 1: council at the Republican National Committee and a principal at 339 00:19:23,920 --> 00:19:29,680 Speaker 1: the Vogel Group. Let's continue to talk about geopolitics, especially 340 00:19:29,720 --> 00:19:33,800 Speaker 1: in light of President Biden's interview with ABC News, a 341 00:19:33,920 --> 00:19:36,480 Speaker 1: rare interview, might I said when I add UH, he 342 00:19:36,560 --> 00:19:40,639 Speaker 1: was asked about the situation along the US Mexico border, 343 00:19:40,680 --> 00:19:45,040 Speaker 1: which has continued to intensify. UH and and and grab 344 00:19:45,119 --> 00:19:48,760 Speaker 1: the attention of lawmakers in the halls of Congress. I 345 00:19:48,840 --> 00:19:51,760 Speaker 1: mentioned this because coming up, we're gonna hear from Congresswoman 346 00:19:51,760 --> 00:19:56,280 Speaker 1: Maria Salazar, who's a Republican from Miami Dade County in Florida, 347 00:19:56,560 --> 00:19:59,560 Speaker 1: and she just visited the border. But President Biden was 348 00:19:59,600 --> 00:20:02,959 Speaker 1: asked about this on Good Morning America earlier, and he 349 00:20:03,000 --> 00:20:05,800 Speaker 1: says that the recent migrant surge at the US Mexico 350 00:20:05,880 --> 00:20:08,919 Speaker 1: border could be the worst that's been seen in a 351 00:20:08,960 --> 00:20:13,639 Speaker 1: few years, but also says that his team is setting 352 00:20:13,680 --> 00:20:17,280 Speaker 1: up a process to allow people to apply for asylum 353 00:20:17,359 --> 00:20:21,119 Speaker 1: in their home nations. Take a listen to the sound 354 00:20:21,160 --> 00:20:25,399 Speaker 1: on immigration from President Biden. Yes, I can say quite cooarly, 355 00:20:25,440 --> 00:20:27,439 Speaker 1: don't come on. What we're in the process of getting 356 00:20:27,480 --> 00:20:29,440 Speaker 1: set up, and it's not going to take a whole 357 00:20:29,480 --> 00:20:32,480 Speaker 1: long time is to be able to apply for asylum 358 00:20:32,760 --> 00:20:35,840 Speaker 1: in place. We have brought in brought in HHS and 359 00:20:36,000 --> 00:20:41,400 Speaker 1: also brought in FEMA to provide for enough safe facilities 360 00:20:41,440 --> 00:20:43,320 Speaker 1: for them to not to get out of the control 361 00:20:43,720 --> 00:20:45,920 Speaker 1: of the border patrol, which are not designed to hold 362 00:20:45,960 --> 00:20:50,040 Speaker 1: people for a long period of time, particularly children. Genie Schanzano, 363 00:20:50,119 --> 00:20:52,520 Speaker 1: you and I have talked about this over the last 364 00:20:52,560 --> 00:20:58,400 Speaker 1: couple of weeks. UH. The immigration policy issue does pose 365 00:20:58,760 --> 00:21:03,800 Speaker 1: a political risk to upend the administration's plans to tackle 366 00:21:03,920 --> 00:21:10,320 Speaker 1: other policy items such as infrastructure and UH taxes as 367 00:21:10,680 --> 00:21:15,080 Speaker 1: UH before they address this issue. Does it not? It does? 368 00:21:15,200 --> 00:21:17,960 Speaker 1: And I think one thing I'm fascinated by is that 369 00:21:18,040 --> 00:21:21,240 Speaker 1: you know, Joe Biden did finally say in that interview, 370 00:21:21,600 --> 00:21:26,359 Speaker 1: which was don't come just yet. UM. But I've heard 371 00:21:26,480 --> 00:21:31,560 Speaker 1: from Democrats on the border, and these are obviously not conservatives, 372 00:21:31,640 --> 00:21:35,399 Speaker 1: that the message needs to be a lot clearer than that. 373 00:21:35,480 --> 00:21:39,640 Speaker 1: You can't just say don't come yes yet, because they 374 00:21:39,640 --> 00:21:42,679 Speaker 1: are getting very different messages elsewhere. And so one of 375 00:21:42,720 --> 00:21:44,320 Speaker 1: the things I think the President is going to need 376 00:21:44,320 --> 00:21:46,600 Speaker 1: to think about is his messaging on this. And the 377 00:21:46,680 --> 00:21:49,440 Speaker 1: other thing is, of course, how much is he going 378 00:21:49,520 --> 00:21:53,560 Speaker 1: to invest in pushing for immigration reform in a Congress 379 00:21:53,680 --> 00:21:56,000 Speaker 1: in which it is going to be very difficult to 380 00:21:56,040 --> 00:21:59,160 Speaker 1: get that done. Um, and he's got this looming crisis 381 00:21:59,200 --> 00:22:02,120 Speaker 1: of obviously on the border. He can't turn his back 382 00:22:02,160 --> 00:22:04,520 Speaker 1: on that. And we heard that in the interview Bill. 383 00:22:04,720 --> 00:22:08,560 Speaker 1: I mean, you know, look, let's be candid. Republicans. Under 384 00:22:08,560 --> 00:22:12,400 Speaker 1: President Trump's time in office, took a lot of criticism 385 00:22:12,560 --> 00:22:15,639 Speaker 1: for for the divisiveness of this issue. But now you 386 00:22:15,680 --> 00:22:18,240 Speaker 1: know President Biden's turn. What's President Biden going to do 387 00:22:18,920 --> 00:22:23,280 Speaker 1: on immigration? I mean, is there an opportunity for there 388 00:22:23,320 --> 00:22:28,720 Speaker 1: to be uh any type of consensus building around what 389 00:22:28,880 --> 00:22:33,040 Speaker 1: is largely eclipsed policymakers in both parties for I would 390 00:22:33,080 --> 00:22:36,080 Speaker 1: say more than a decade. And I think, you know, 391 00:22:36,119 --> 00:22:38,320 Speaker 1: it's it's time to recognize that immigration is one of 392 00:22:38,359 --> 00:22:41,880 Speaker 1: the most complicated policies to get any legislation through Congress. 393 00:22:41,960 --> 00:22:44,919 Speaker 1: On I would think it's even worse than healthcare. And 394 00:22:44,960 --> 00:22:48,159 Speaker 1: I think that. But at the end of the and 395 00:22:48,359 --> 00:22:51,760 Speaker 1: and and I think the reason is is because, um, 396 00:22:51,800 --> 00:22:54,960 Speaker 1: you know, America is built on immigrants. Um. But you 397 00:22:54,960 --> 00:22:57,320 Speaker 1: know what the American people want is they want to 398 00:22:57,359 --> 00:23:00,560 Speaker 1: have a system that works that permits legal immigration, will 399 00:23:00,640 --> 00:23:03,440 Speaker 1: stopping illegal immigration so that people have to go through 400 00:23:03,440 --> 00:23:06,880 Speaker 1: the process before gaining entry. In the cornerstone of that 401 00:23:07,040 --> 00:23:10,520 Speaker 1: policy has got to be border security. Um. And right 402 00:23:10,520 --> 00:23:14,080 Speaker 1: now the Biden administration seems to be UM kind of 403 00:23:14,080 --> 00:23:16,080 Speaker 1: in the mumble tank a little bit on how they're 404 00:23:16,080 --> 00:23:19,840 Speaker 1: going to address the border security issue, especially during a 405 00:23:19,880 --> 00:23:24,080 Speaker 1: pandemic where people are not being screened before they're gaining entry. Um. 406 00:23:24,119 --> 00:23:27,080 Speaker 1: But also because how they're going to do the asylum process, 407 00:23:28,000 --> 00:23:30,320 Speaker 1: because it sounds a lot like what they're gonna do 408 00:23:30,400 --> 00:23:32,280 Speaker 1: is catch and release, which is the people are brought 409 00:23:32,280 --> 00:23:35,400 Speaker 1: into custody their process, they're supposed to get a trial date, 410 00:23:35,440 --> 00:23:38,160 Speaker 1: but they're released and supposed to come back um for 411 00:23:38,200 --> 00:23:43,080 Speaker 1: that immigration hearing. It's an extremely complicated topic. Um. And 412 00:23:43,200 --> 00:23:45,399 Speaker 1: right now the Biden administration, I think is learning the 413 00:23:45,400 --> 00:23:48,960 Speaker 1: hard realities of what these border surges were like in 414 00:23:49,000 --> 00:23:51,600 Speaker 1: the Trump administration. Well, and I mean and and this 415 00:23:51,760 --> 00:23:56,240 Speaker 1: only further complicates the issue, which is the filibuster reform um. 416 00:23:56,280 --> 00:23:58,439 Speaker 1: If you look at the New York Daily News, uh, 417 00:23:58,480 --> 00:24:01,200 Speaker 1: they report President Biden is not ruling out a push 418 00:24:01,240 --> 00:24:04,600 Speaker 1: for reforming the Senate filibuster rule in order to pass 419 00:24:04,640 --> 00:24:07,520 Speaker 1: a sweeping immigration plan that would provide a path to 420 00:24:07,600 --> 00:24:10,240 Speaker 1: citizenship for the millions of people who are in the 421 00:24:10,320 --> 00:24:13,800 Speaker 1: United States illegally. Take a lesson to what President Biden 422 00:24:13,840 --> 00:24:17,080 Speaker 1: had to say about the filibuster reform and his interview 423 00:24:17,280 --> 00:24:20,080 Speaker 1: with ABC News. Here's the sound on the filibuster. So 424 00:24:20,200 --> 00:24:22,760 Speaker 1: you're for that reform, You're for bringing back the talking filibusters. 425 00:24:22,840 --> 00:24:24,720 Speaker 1: I am, That's what it was supposed to be. I 426 00:24:24,720 --> 00:24:26,679 Speaker 1: don't think you have to eliminate the filibuster. You have 427 00:24:26,760 --> 00:24:28,399 Speaker 1: to do it what it used to be when I 428 00:24:28,440 --> 00:24:30,280 Speaker 1: first got to the Senate, so you had to stand 429 00:24:30,320 --> 00:24:32,439 Speaker 1: up and command the floor. It almost is getting to 430 00:24:32,480 --> 00:24:35,439 Speaker 1: the point where there's you know, democracy is having a 431 00:24:35,440 --> 00:24:41,080 Speaker 1: hard time functioning. So then Senator Joe Manchin Jennie came 432 00:24:41,080 --> 00:24:45,000 Speaker 1: out today, the centrist Democrat from West Virginia, and he 433 00:24:45,080 --> 00:24:51,879 Speaker 1: has said essentially that he he closed this door, um, 434 00:24:51,920 --> 00:24:54,439 Speaker 1: and so that he was not. They're not in favor 435 00:24:54,640 --> 00:24:57,440 Speaker 1: of it. But either way, it's a bargaining ship from 436 00:24:57,520 --> 00:25:01,080 Speaker 1: President Biden's perspective. It is a bargneing chip from his perspective, 437 00:25:01,119 --> 00:25:03,720 Speaker 1: Joe Mansion. To me, at least in the last several weeks, 438 00:25:03,760 --> 00:25:07,399 Speaker 1: I've been confused by his responses, sometimes seeing being open 439 00:25:07,480 --> 00:25:10,439 Speaker 1: to some type of reform and other times not. But 440 00:25:10,520 --> 00:25:15,200 Speaker 1: I'll tell you who's completely taken a very strong view 441 00:25:15,240 --> 00:25:17,439 Speaker 1: of this, and that's Mitch McConnell. As he said on 442 00:25:17,480 --> 00:25:20,199 Speaker 1: the floor the other day, um that this would be 443 00:25:20,240 --> 00:25:22,360 Speaker 1: what did he say, a one hundred car pile up 444 00:25:22,359 --> 00:25:25,160 Speaker 1: where nothing moves. Now, it can't get much worse than 445 00:25:25,200 --> 00:25:27,439 Speaker 1: it has been the last few years, quite frankly, with 446 00:25:27,480 --> 00:25:30,720 Speaker 1: nothing moving in Congress. But if that's the threat, because 447 00:25:30,760 --> 00:25:33,760 Speaker 1: what Democrats have to remember, we're at a fifty fifty Senate, 448 00:25:33,920 --> 00:25:37,480 Speaker 1: so you know this is you know, really really going 449 00:25:37,520 --> 00:25:39,760 Speaker 1: to be tough if they try to move this forward. 450 00:25:40,040 --> 00:25:43,240 Speaker 1: But if Joe Biden doesn't, what are the progressives going 451 00:25:43,280 --> 00:25:46,280 Speaker 1: to do? They will not be happy about things like 452 00:25:46,440 --> 00:25:50,520 Speaker 1: voting reform, let alone immigration and everything else on their agenda. 453 00:25:50,640 --> 00:25:53,720 Speaker 1: It comes down to the cloture motion and whether or 454 00:25:53,760 --> 00:25:57,440 Speaker 1: not there's that sixty vote threshold, and wow, it would 455 00:25:57,480 --> 00:26:00,840 Speaker 1: forever change the dynamics of the risk much more. Coming 456 00:26:00,880 --> 00:26:18,480 Speaker 1: up next, I'm Kevin's Really this is Bloomberg. You're listening 457 00:26:18,560 --> 00:26:22,560 Speaker 1: to Bloomberg Sound On with Kevin Sirel on Bloomberg Radio. 458 00:26:23,720 --> 00:26:26,800 Speaker 1: My name is Kevin Sirelli. I'm the chief Washington correspondent 459 00:26:26,920 --> 00:26:31,600 Speaker 1: for Bloomberg Television and Bloomberg Radio. What's head out to 460 00:26:31,720 --> 00:26:36,360 Speaker 1: my exclusive conversation with Florida Republican Congresswoman Maria Salazar, who 461 00:26:36,440 --> 00:26:40,200 Speaker 1: just visited the southern border to see the crisis firsthand 462 00:26:40,280 --> 00:26:43,439 Speaker 1: along with House Republican Leader Kevin McCarthy. I asked her 463 00:26:44,119 --> 00:26:47,240 Speaker 1: what needs to be done about what's happening at the border. 464 00:26:47,800 --> 00:26:50,960 Speaker 1: Take a listen to what she told me. They presented 465 00:26:51,040 --> 00:26:54,760 Speaker 1: today what I call the Dignity Path or the Dignity 466 00:26:54,920 --> 00:26:58,560 Speaker 1: Plan in order to finish writing it with the Democrats, 467 00:26:58,600 --> 00:27:00,680 Speaker 1: And what does it say that we have to bring 468 00:27:00,720 --> 00:27:04,119 Speaker 1: out of the shadows eleven million people that have lived 469 00:27:04,119 --> 00:27:06,800 Speaker 1: here for more than five years. I'm not sure if 470 00:27:06,800 --> 00:27:11,600 Speaker 1: you know that of the eleven million plus undocumented people 471 00:27:11,680 --> 00:27:13,960 Speaker 1: in the United States have been here for more than 472 00:27:14,080 --> 00:27:18,359 Speaker 1: five years. Have American children, they have, they have they 473 00:27:18,400 --> 00:27:21,440 Speaker 1: have pay taxes, they have not committed a crime, they 474 00:27:21,440 --> 00:27:24,439 Speaker 1: have possessions, and all they want to do is work 475 00:27:25,000 --> 00:27:28,879 Speaker 1: and have dignity. So when I hear the Democrats talking 476 00:27:28,920 --> 00:27:31,200 Speaker 1: about that we're going to give you an immigration reform 477 00:27:31,320 --> 00:27:33,160 Speaker 1: law and that we're going to give you a path 478 00:27:33,280 --> 00:27:36,040 Speaker 1: to citizenship, all that is fine and dandy, but in 479 00:27:36,080 --> 00:27:39,600 Speaker 1: reality is that it hasn't happened. So I am very upset, 480 00:27:39,760 --> 00:27:43,199 Speaker 1: and they are very concerned that the Democrats are are 481 00:27:43,200 --> 00:27:46,880 Speaker 1: going to continue playing political football with the Hispanics. Well, 482 00:27:46,880 --> 00:27:49,880 Speaker 1: because the empirical evidence is that they haven't done anything 483 00:27:49,880 --> 00:27:54,040 Speaker 1: since Ronald Reagan in Congressman, I say this respectfully, but 484 00:27:54,160 --> 00:27:56,480 Speaker 1: let me press you here. I don't think any party 485 00:27:56,520 --> 00:27:59,000 Speaker 1: has done anything to be able to find a solution. 486 00:27:59,080 --> 00:28:02,119 Speaker 1: This has been an issue you for predating the Trump years, 487 00:28:02,320 --> 00:28:06,840 Speaker 1: and so I want to tell you Democrats have always promised. 488 00:28:07,720 --> 00:28:11,520 Speaker 1: Republicans have not led the chart in this issue. So 489 00:28:11,560 --> 00:28:14,360 Speaker 1: if in two thousand and nine presidents of Barack Obama 490 00:28:14,400 --> 00:28:16,840 Speaker 1: said to Spanish television where I used to work at, 491 00:28:17,160 --> 00:28:19,760 Speaker 1: that he was going to do an immigration reform law, 492 00:28:20,040 --> 00:28:23,159 Speaker 1: the first one hundred years of his presidency, and what 493 00:28:23,160 --> 00:28:26,159 Speaker 1: did he do. He gave that political capital to Obamacare. 494 00:28:26,400 --> 00:28:29,080 Speaker 1: That's fine, you can put your political capital whatever you 495 00:28:29,160 --> 00:28:33,360 Speaker 1: think it's best. But then don't promise sixty million Hispanics, 496 00:28:33,400 --> 00:28:37,080 Speaker 1: the largest minority in the country of the population of 497 00:28:37,119 --> 00:28:39,800 Speaker 1: this country, that you're going to do an immigration reform law. 498 00:28:39,840 --> 00:28:42,360 Speaker 1: And then on top of that, do not promise President 499 00:28:42,440 --> 00:28:46,040 Speaker 1: Biden now in the same thing, within my first one 500 00:28:46,160 --> 00:28:48,400 Speaker 1: hundred days of my presidency, I'm going to do on 501 00:28:48,440 --> 00:28:51,080 Speaker 1: immigration reform law. You know what, they have presented something 502 00:28:51,120 --> 00:28:54,400 Speaker 1: that they know will never pass. Let's talk business, because 503 00:28:54,400 --> 00:28:56,520 Speaker 1: the business community has a rule here. But the business 504 00:28:56,520 --> 00:28:58,440 Speaker 1: community has a rule here, whether it's Silicon Valley or 505 00:28:58,440 --> 00:29:00,680 Speaker 1: whether it's Wall Street or the main street, even in 506 00:29:00,720 --> 00:29:03,240 Speaker 1: small and medium sized companies. What do you what should 507 00:29:03,240 --> 00:29:05,960 Speaker 1: the business community be pushing for in this immigration debate 508 00:29:06,040 --> 00:29:09,200 Speaker 1: because this affects them absolutely. And I think that's exactly 509 00:29:09,240 --> 00:29:12,120 Speaker 1: why I'm here, because everybody that is watching us people 510 00:29:12,200 --> 00:29:15,920 Speaker 1: that need hands to fill those jobs. Last year, we 511 00:29:16,040 --> 00:29:20,280 Speaker 1: had six million jobs more than hands in two thousand 512 00:29:20,280 --> 00:29:24,760 Speaker 1: and thirty five. According to the experts, thirty of the 513 00:29:24,840 --> 00:29:29,200 Speaker 1: labor force needs to come from immigrants because we don't 514 00:29:29,240 --> 00:29:31,480 Speaker 1: have enough people, thank God, because we have such a 515 00:29:31,480 --> 00:29:34,320 Speaker 1: fantastic economy. So what do we need. We need to 516 00:29:34,400 --> 00:29:38,960 Speaker 1: bring whoever the marketplace needs, whether it's an engineer, a doctor, 517 00:29:39,080 --> 00:29:41,120 Speaker 1: or somebody that needs to pick up Halapania peppers in 518 00:29:41,160 --> 00:29:44,920 Speaker 1: southern California. Is whatever the market dictates. That's what I 519 00:29:44,960 --> 00:29:47,720 Speaker 1: agree that, that's what I think we should do, market reform. 520 00:29:47,880 --> 00:29:50,880 Speaker 1: But then on top of that, I mean merrit based 521 00:29:51,120 --> 00:29:54,480 Speaker 1: for the market to decide. But then the immigration reform 522 00:29:54,680 --> 00:29:58,040 Speaker 1: needs to include the asylum process, which we know the 523 00:29:58,080 --> 00:30:00,800 Speaker 1: coyotes and the traffickers are gay need the system. We 524 00:30:00,840 --> 00:30:03,360 Speaker 1: cannot do that anymore, and then we cannot get we 525 00:30:03,400 --> 00:30:07,920 Speaker 1: cannot incentivize those families that are being promised. Hey yeah, 526 00:30:07,960 --> 00:30:10,920 Speaker 1: you're paying me ten thousand dollars, I'm gonna gonna I'm 527 00:30:10,920 --> 00:30:13,200 Speaker 1: gonna put you over the border, and you're gonna be 528 00:30:13,240 --> 00:30:15,680 Speaker 1: able to find a job. We cannot do that anymore 529 00:30:15,720 --> 00:30:18,600 Speaker 1: because that is not good for the Hispanic Americans. What 530 00:30:18,640 --> 00:30:20,680 Speaker 1: should happen with the wall of the border. I think 531 00:30:20,720 --> 00:30:24,280 Speaker 1: that we should have the best technology we could find. 532 00:30:24,680 --> 00:30:28,760 Speaker 1: That involves many different things like guards and whatever you need. 533 00:30:28,920 --> 00:30:31,480 Speaker 1: I'm not an expert in technology, but I think that 534 00:30:31,640 --> 00:30:34,960 Speaker 1: we need to secure the border and then in that 535 00:30:35,040 --> 00:30:39,000 Speaker 1: border have very wide doors that will allow people in 536 00:30:39,080 --> 00:30:42,320 Speaker 1: a legal fashion, people that will come to contribute to 537 00:30:42,360 --> 00:30:44,120 Speaker 1: the country. I gotta say, how come we're still talking 538 00:30:44,120 --> 00:30:46,120 Speaker 1: about a wall. I mean, I thought this was supposed 539 00:30:46,160 --> 00:30:48,680 Speaker 1: to be settled. I thought this was something that Congress 540 00:30:48,720 --> 00:30:51,920 Speaker 1: is supposed to address. Well, I'm talking about technology. I 541 00:30:51,920 --> 00:30:53,600 Speaker 1: know you, I know, I know, I'm not achnology or 542 00:30:53,640 --> 00:30:55,560 Speaker 1: whatever work. I guess what I'm saying is what is 543 00:30:55,560 --> 00:30:57,360 Speaker 1: going to be different. Do you feel that now is 544 00:30:57,720 --> 00:31:01,040 Speaker 1: a marked difference in the debate right now for lawmakers 545 00:31:01,040 --> 00:31:04,480 Speaker 1: to actually pass something. Well, I certainly hope, and that 546 00:31:04,640 --> 00:31:07,320 Speaker 1: is what I am reaching out across the island, across 547 00:31:07,400 --> 00:31:10,200 Speaker 1: the country, and I'm inviting all the business groups to 548 00:31:10,320 --> 00:31:13,040 Speaker 1: come and join us Republicans, because you know, one of 549 00:31:13,080 --> 00:31:14,600 Speaker 1: the things that I do want to say is that 550 00:31:14,680 --> 00:31:18,280 Speaker 1: Republicans we are also compassionate. We are not a bunch 551 00:31:18,320 --> 00:31:22,240 Speaker 1: of racists. We're not incompassionate. We feel for those people 552 00:31:22,240 --> 00:31:24,640 Speaker 1: that are crossing the border and for those who live 553 00:31:24,640 --> 00:31:27,520 Speaker 1: in the shadows. We want to solve both ends of 554 00:31:27,640 --> 00:31:30,160 Speaker 1: the spectrum. But we need the other side. And that's 555 00:31:30,200 --> 00:31:34,000 Speaker 1: why I'm saying, I'm reaching out to my Hispanic colleagues 556 00:31:34,160 --> 00:31:37,280 Speaker 1: in in the house to sit with us so we 557 00:31:37,320 --> 00:31:40,000 Speaker 1: can finalize this issue, and then we'll be able to 558 00:31:40,080 --> 00:31:43,080 Speaker 1: protect two communities, the ones who live here and the 559 00:31:43,120 --> 00:31:44,840 Speaker 1: ones who are trying to come in. Before we got 560 00:31:44,880 --> 00:31:47,800 Speaker 1: on air, you describe to me the situation for those 561 00:31:47,840 --> 00:31:52,000 Speaker 1: three thousand teenagers who are and their families who are 562 00:31:52,040 --> 00:31:56,720 Speaker 1: down in Texas right now. It's it's it's so sad 563 00:31:57,200 --> 00:32:01,080 Speaker 1: that you have I went to help Asso, and what 564 00:32:01,120 --> 00:32:03,440 Speaker 1: I can say to you is that the facility is clean. 565 00:32:04,320 --> 00:32:08,240 Speaker 1: The kids are divided by age group, so the thirteen 566 00:32:08,360 --> 00:32:10,800 Speaker 1: or the thirteen and the seventeen or with the seventeen. 567 00:32:10,800 --> 00:32:12,560 Speaker 1: We don't want to mix those. And the girls are 568 00:32:12,560 --> 00:32:15,200 Speaker 1: with the girls and the boys are with the boys. 569 00:32:15,200 --> 00:32:17,600 Speaker 1: But we do not know what happened to those children 570 00:32:17,600 --> 00:32:20,760 Speaker 1: while they were coming here. And I was saying that 571 00:32:21,600 --> 00:32:27,320 Speaker 1: child's child sex trafficking is increasing in this country. That's 572 00:32:27,360 --> 00:32:31,080 Speaker 1: horrible to say. Kids that have been kidnapped from their 573 00:32:31,120 --> 00:32:35,120 Speaker 1: parents and now being trafficked for sexual activities. On top 574 00:32:35,200 --> 00:32:37,000 Speaker 1: of that, all the girls that are being raped by 575 00:32:37,000 --> 00:32:39,080 Speaker 1: the coyotes and the traffickers. Do you think that they 576 00:32:39,120 --> 00:32:42,360 Speaker 1: really care now? They promise false hopes to their parents 577 00:32:42,880 --> 00:32:45,960 Speaker 1: and everybody wants to come to the United States. Absolutely, 578 00:32:46,200 --> 00:32:47,560 Speaker 1: and then at the end, you know we need to 579 00:32:47,600 --> 00:32:50,000 Speaker 1: do We need to give incentives to the American companies 580 00:32:50,040 --> 00:32:52,280 Speaker 1: to go to Nicaragua, to go to Gatemala, to go 581 00:32:52,360 --> 00:32:56,360 Speaker 1: to indoors, with tax breaks, with whatever it takes for 582 00:32:56,400 --> 00:32:59,440 Speaker 1: them to be able to provide those jobs and keep 583 00:32:59,480 --> 00:33:02,600 Speaker 1: those bowl home. Connor Simon, you're a member of the 584 00:33:02,640 --> 00:33:06,959 Speaker 1: House Foreign Relations, the subcommittee for the Americas and and 585 00:33:07,200 --> 00:33:10,040 Speaker 1: those countries that you just named. China's making a play 586 00:33:10,040 --> 00:33:15,160 Speaker 1: for via technology and we're allowing it. So how how 587 00:33:15,240 --> 00:33:18,080 Speaker 1: can we stop it? We got to create a martial plan. 588 00:33:18,600 --> 00:33:21,200 Speaker 1: It's our backyard. I used to live there because I 589 00:33:21,280 --> 00:33:24,800 Speaker 1: was a Central American bureau chief for Univision during the 590 00:33:24,840 --> 00:33:29,000 Speaker 1: Salvadoran Civil War. I know them very well. They love 591 00:33:29,200 --> 00:33:32,640 Speaker 1: the grain goes, they love the Americans. What are we doing. 592 00:33:32,920 --> 00:33:36,000 Speaker 1: We're just giving that territory to the Chinese. What we 593 00:33:36,040 --> 00:33:38,320 Speaker 1: have to do is we have to invade the territory 594 00:33:38,440 --> 00:33:42,480 Speaker 1: with American companies, with American families. Everybody that wants to 595 00:33:42,520 --> 00:33:44,840 Speaker 1: go down to Central America should go right now. Any 596 00:33:44,920 --> 00:33:47,000 Speaker 1: business that wants to set up shop there should go 597 00:33:47,160 --> 00:33:50,240 Speaker 1: right now, because it's our natural background. And you know, 598 00:33:50,280 --> 00:33:53,080 Speaker 1: on top of that, they love the Americans because everybody 599 00:33:53,080 --> 00:33:56,840 Speaker 1: wants to come to this country. Those Democratic Socialist colleagues 600 00:33:56,840 --> 00:33:58,640 Speaker 1: on the other side that and say that they are 601 00:33:58,680 --> 00:34:02,160 Speaker 1: saying that the system doesn't work. Listen, the American system 602 00:34:02,240 --> 00:34:06,400 Speaker 1: is still the best. The American exceptionality everybody wants to 603 00:34:06,480 --> 00:34:10,120 Speaker 1: live in. That was Congresswoman Maria Salazar. She's a Republican 604 00:34:10,200 --> 00:34:14,560 Speaker 1: from Florida, Miami Dade County. Genie Shanzano Bloomer Politics contributor. 605 00:34:15,120 --> 00:34:17,360 Speaker 1: She's clearly a rising star within the party. I was 606 00:34:17,520 --> 00:34:20,560 Speaker 1: thrilled to be able to interview her today to get 607 00:34:20,600 --> 00:34:24,879 Speaker 1: her perspective, especially on immigration uh and and she talks 608 00:34:24,920 --> 00:34:30,319 Speaker 1: about geopolitics in UH, in the Latin American region uh 609 00:34:30,320 --> 00:34:32,520 Speaker 1: and we went on to talk about China and the 610 00:34:32,560 --> 00:34:36,120 Speaker 1: influence of them UH influencing that particular region. She is 611 00:34:36,160 --> 00:34:40,200 Speaker 1: going to be a dominant voice in this party potentially 612 00:34:40,239 --> 00:34:42,399 Speaker 1: for many years to come. She is and I think 613 00:34:42,400 --> 00:34:45,680 Speaker 1: a very important voice, particularly for Democrats. To listen to. 614 00:34:45,840 --> 00:34:49,600 Speaker 1: David Shore, the data scientists, the Democrat Barack Obama pointed 615 00:34:49,640 --> 00:34:55,480 Speaker 1: to his recap of and said, Democrats are overstating Hispanic support, 616 00:34:55,520 --> 00:34:59,279 Speaker 1: which they lost in the election, because they're exaggerating their 617 00:34:59,320 --> 00:35:02,839 Speaker 1: liberal view. And she is a representative of what some 618 00:35:02,920 --> 00:35:05,680 Speaker 1: Democrats are saying that data doesn't support in terms of 619 00:35:05,760 --> 00:35:09,400 Speaker 1: views towards its Hispanic voters, particularly as it pertains to immigration. 620 00:35:09,440 --> 00:35:13,239 Speaker 1: And by the way, I mean identity politics aside a 621 00:35:13,360 --> 00:35:17,080 Speaker 1: leader in her own right, the former bureau chief for 622 00:35:17,080 --> 00:35:20,760 Speaker 1: for Univision, I mean no small feat to someone who's 623 00:35:20,760 --> 00:35:23,480 Speaker 1: in the media industry. Uh And and to see that 624 00:35:23,560 --> 00:35:26,959 Speaker 1: transformation that she went and the reinvention that she went under, 625 00:35:27,040 --> 00:35:30,920 Speaker 1: just a fascinating political figure in you know, Florida, a 626 00:35:30,960 --> 00:35:34,719 Speaker 1: state that has been trending more Republican in recent years. 627 00:35:35,640 --> 00:35:39,040 Speaker 1: The way that she's pitching immigration, um, I would argue 628 00:35:39,080 --> 00:35:42,839 Speaker 1: as much more akin to the Bush years, that compassionate conservatism. 629 00:35:42,840 --> 00:35:45,440 Speaker 1: You heard her use the word compassionate. So a fascinating 630 00:35:45,480 --> 00:35:50,400 Speaker 1: development in the immigration debate. Great to speak with her earlier. Today, 631 00:35:50,880 --> 00:35:55,280 Speaker 1: February is Women's History Month, and Bloomberg Radio is looking 632 00:35:55,280 --> 00:35:56,960 Speaker 1: back at some of those who played a vital role 633 00:35:57,000 --> 00:35:59,719 Speaker 1: in American history, and here with today's installment is Bloomberg's 634 00:35:59,719 --> 00:36:02,440 Speaker 1: renew to Young on this day in Women's History. In 635 00:36:02,560 --> 00:36:06,240 Speaker 1: nineteen sixty nine, Golden Mayor is elected as Israel's first 636 00:36:06,320 --> 00:36:10,200 Speaker 1: female prime minister. She was only the country's fourth prime minister. 637 00:36:10,640 --> 00:36:14,719 Speaker 1: Mayor began her career as a Zionist labor organizer. Later on, 638 00:36:14,800 --> 00:36:18,600 Speaker 1: she held several positions in the Israeli government, including Minister 639 00:36:18,680 --> 00:36:21,759 Speaker 1: of Foreign Affairs and Minister of Labor, and upon the 640 00:36:21,800 --> 00:36:25,560 Speaker 1: sudden death of Prime Minister Levyshkal in nineteen sixty nine, 641 00:36:25,840 --> 00:36:29,560 Speaker 1: Mayor was chosen as his successor. During her tenure, Mayor 642 00:36:29,600 --> 00:36:33,200 Speaker 1: gained a reputation as a savvy diplomat. She saw the 643 00:36:33,200 --> 00:36:36,120 Speaker 1: country through the Yam Kippur War in nineteen seventy three, 644 00:36:36,280 --> 00:36:39,960 Speaker 1: after Syria and Egypt launched a surprise attack on Israel, 645 00:36:40,480 --> 00:36:43,600 Speaker 1: and partially due to her ailing health and age, Mayor 646 00:36:43,719 --> 00:36:48,400 Speaker 1: resigned in October nineteen seventy four. That's today in Women's History. 647 00:36:48,680 --> 00:36:53,879 Speaker 1: I'm Nita Young, Bloomberg Radio and have Patrick's stay From 648 00:36:54,080 --> 00:37:07,360 Speaker 1: Mimi's grandson Kevin Sireli, this is Bloomberg say