1 00:00:00,040 --> 00:00:01,840 Speaker 1: I will say this before we get to our reporter. 2 00:00:01,920 --> 00:00:04,920 Speaker 1: I did see Larry Summers on CNN this morning, and 3 00:00:04,960 --> 00:00:07,840 Speaker 1: he was he's a democratic economist, but he was more 4 00:00:07,880 --> 00:00:10,800 Speaker 1: than willing to call out all those other bills as inflationary. 5 00:00:10,960 --> 00:00:13,119 Speaker 1: He was warning the White House this is gonna make 6 00:00:13,119 --> 00:00:15,920 Speaker 1: inflation worse. He says, this is going to help with inflation. 7 00:00:16,120 --> 00:00:18,360 Speaker 1: So right, well, and there was the big Chip bill 8 00:00:18,400 --> 00:00:21,320 Speaker 1: as well. To discuss this. Uh my gosh, what a day. 9 00:00:21,400 --> 00:00:25,720 Speaker 1: Sarah Westwood, investigative reporter for the Washington Examiner, joins us, Sarah, welcome, 10 00:00:25,720 --> 00:00:28,840 Speaker 1: how are you. I'm great, thanks for having me. I 11 00:00:28,840 --> 00:00:31,680 Speaker 1: can only assume that somebody but Joe manson a yacht. 12 00:00:31,760 --> 00:00:34,000 Speaker 1: Is that how he changed his mind or would we 13 00:00:34,040 --> 00:00:38,320 Speaker 1: have any idea how that came about. It's completely unclear 14 00:00:38,479 --> 00:00:41,519 Speaker 1: how it came about. The win of it is certainly 15 00:00:41,800 --> 00:00:45,040 Speaker 1: almost certainly earlier than yesterday afternoon. I mean, I think 16 00:00:45,080 --> 00:00:48,520 Speaker 1: Republicans were really burned by the timing of his announcement 17 00:00:48,520 --> 00:00:50,360 Speaker 1: that he was going to back this deal, because, if 18 00:00:50,400 --> 00:00:54,120 Speaker 1: you remember, Mitch McConnell said, we are not going to 19 00:00:54,160 --> 00:00:57,000 Speaker 1: offer support for the semi conductor bill, the chips bill 20 00:00:57,080 --> 00:01:00,880 Speaker 1: that you guys mentioned unless you guys, you know, agree 21 00:01:00,920 --> 00:01:03,720 Speaker 1: not to move forward on a reconciliation build. Does all 22 00:01:03,720 --> 00:01:06,440 Speaker 1: this stuff fund climate change? You know that the Democrats 23 00:01:06,440 --> 00:01:08,800 Speaker 1: have been wanting. And he held up that bill until 24 00:01:08,840 --> 00:01:11,000 Speaker 1: he was pretty sure that build back better or some 25 00:01:11,160 --> 00:01:13,679 Speaker 1: version of it was dead. Then he lent his support 26 00:01:13,760 --> 00:01:16,480 Speaker 1: to it, and just a few hours later, Mansion and 27 00:01:16,520 --> 00:01:18,960 Speaker 1: Chumor come out and say they have a reconciliation deal. 28 00:01:19,040 --> 00:01:21,959 Speaker 1: So I think Republicans feel really burned right now by 29 00:01:21,959 --> 00:01:25,360 Speaker 1: that bait and switch. And it's why House Republicans are saying, well, 30 00:01:25,400 --> 00:01:27,640 Speaker 1: you may have tricked us in the Senate, but we're 31 00:01:27,680 --> 00:01:29,720 Speaker 1: not going to support it in the House. And they 32 00:01:29,760 --> 00:01:35,800 Speaker 1: are whipping against the Chips bill. Now, Wow, even though 33 00:01:35,800 --> 00:01:38,200 Speaker 1: the Republicans like the Chips bill, they're just using it 34 00:01:38,240 --> 00:01:41,000 Speaker 1: as a bargaining chip. If you'll pardon the use of 35 00:01:41,000 --> 00:01:46,440 Speaker 1: the word chips too many times, Um, if you'll excuse me, 36 00:01:46,480 --> 00:01:48,800 Speaker 1: I'm enjoying some pringles. Well that is kind of from 37 00:01:48,920 --> 00:01:51,880 Speaker 1: from a Yeah, that's interesting from a drama standpoint, because 38 00:01:52,040 --> 00:01:55,880 Speaker 1: I saw the headlines middle of the day that before 39 00:01:55,960 --> 00:01:59,200 Speaker 1: the we're on the I'm on the we're broadcasting the 40 00:01:59,200 --> 00:02:00,640 Speaker 1: show is centered on the West coast. So it was 41 00:02:00,640 --> 00:02:02,400 Speaker 1: the middle of the day for me that the whole 42 00:02:02,600 --> 00:02:04,920 Speaker 1: new bill back better paired down thing was dead. I 43 00:02:04,960 --> 00:02:06,720 Speaker 1: saw the headlines that that was dead, and then all 44 00:02:06,720 --> 00:02:08,799 Speaker 1: of a sudden, just like Tony Dow the other day, 45 00:02:09,000 --> 00:02:12,320 Speaker 1: was not dead. Briefly, Um, you were following that story. 46 00:02:12,720 --> 00:02:17,520 Speaker 1: So so some Shenanigans are lying or is it? How 47 00:02:17,600 --> 00:02:22,360 Speaker 1: upset are the Republicans about this? Republicans are pretty upset. 48 00:02:22,360 --> 00:02:25,320 Speaker 1: I mean, they definitely feel like there was deception involved 49 00:02:25,639 --> 00:02:29,800 Speaker 1: in in the way the details of the new Democratic 50 00:02:29,800 --> 00:02:32,400 Speaker 1: Reconciliation Bill came out. And it's almost certainly was the 51 00:02:32,440 --> 00:02:36,200 Speaker 1: case that Mansion and Schumer didn't magically arrive at this 52 00:02:36,280 --> 00:02:39,480 Speaker 1: conclusion hours after the Chips bill passed. It's clear this 53 00:02:39,560 --> 00:02:43,000 Speaker 1: deal probably came together in the days or even weeks 54 00:02:43,040 --> 00:02:46,160 Speaker 1: before Chips advanced out of the Senate and then it 55 00:02:46,280 --> 00:02:49,560 Speaker 1: was announced. Also not clear what part of this bill 56 00:02:49,880 --> 00:02:53,800 Speaker 1: would be, you know, anti inflationary. I mean, it's subsidies 57 00:02:53,840 --> 00:02:58,200 Speaker 1: for green energy, it's subsidies for solar panels and electric cars, 58 00:02:58,320 --> 00:03:02,320 Speaker 1: it's tax increases on businesses. So it's not clear where 59 00:03:02,360 --> 00:03:05,560 Speaker 1: Democrats are really getting this idea that it's going to 60 00:03:05,600 --> 00:03:10,320 Speaker 1: fight inflation, and it's really bad timing for them to float, 61 00:03:10,480 --> 00:03:13,040 Speaker 1: you know, more than three fifty billion dollars worth of 62 00:03:13,080 --> 00:03:15,720 Speaker 1: government spending at the same time that we're getting these 63 00:03:15,720 --> 00:03:19,760 Speaker 1: GDP numbers. That suggests to all sentient economists that the 64 00:03:19,800 --> 00:03:22,160 Speaker 1: economy is now in a recession on top of the 65 00:03:22,160 --> 00:03:26,320 Speaker 1: inflation that we're experiencing. So can you we've skipped to 66 00:03:26,400 --> 00:03:29,840 Speaker 1: the politics, and the politics are are really interesting actually 67 00:03:29,880 --> 00:03:34,240 Speaker 1: this time. But what is in this gigantic fourty three 68 00:03:35,120 --> 00:03:40,200 Speaker 1: billion dollar bill just the quick drive by while the 69 00:03:40,240 --> 00:03:42,720 Speaker 1: part that Democrats seem most excited about is a lot 70 00:03:42,760 --> 00:03:47,720 Speaker 1: of the climate change um UH measures that are in 71 00:03:47,760 --> 00:03:51,240 Speaker 1: this bill obviously, like I mentioned, their subsidies for electric vehicles, 72 00:03:51,280 --> 00:03:55,320 Speaker 1: for solar panel production, for transitioning more towards clean energy. 73 00:03:55,400 --> 00:03:59,160 Speaker 1: There's some new UH carbon emission regulations. I can just 74 00:03:59,240 --> 00:04:01,280 Speaker 1: jump in and make These are my words, not yours. 75 00:04:01,560 --> 00:04:03,400 Speaker 1: I just I get the feeling, you know. My My 76 00:04:03,480 --> 00:04:05,360 Speaker 1: first thought when I hear those words is that's gonna 77 00:04:05,360 --> 00:04:07,440 Speaker 1: be a bunch of crap, a whole bunch of useless crap, 78 00:04:07,600 --> 00:04:09,400 Speaker 1: A whole bunch of money is gonna get spent. It's 79 00:04:09,440 --> 00:04:11,800 Speaker 1: not gonna help the environment in any way people are 80 00:04:11,800 --> 00:04:14,800 Speaker 1: gonna get rich. We're not gonna use less fossil field. 81 00:04:14,120 --> 00:04:18,000 Speaker 1: But back to you, Sarah, Celinda, right, Celenda is what 82 00:04:18,040 --> 00:04:19,960 Speaker 1: comes to mind. Right, That's often been the case is 83 00:04:20,040 --> 00:04:23,200 Speaker 1: that it's been a boondoggle for technology that has not 84 00:04:23,320 --> 00:04:25,960 Speaker 1: yet succeeded on the free market, that is not ready 85 00:04:26,000 --> 00:04:30,760 Speaker 1: for mass production and doesn't impact climate change in any 86 00:04:30,800 --> 00:04:32,520 Speaker 1: meaningful way. So you have the climate piece of it. 87 00:04:32,720 --> 00:04:35,880 Speaker 1: The Democrats are really excited about. There's an increase in 88 00:04:35,880 --> 00:04:38,960 Speaker 1: the corporate minimum tax. That will actually be an interesting 89 00:04:38,960 --> 00:04:43,560 Speaker 1: component because UH Senator Kirsten Cinema out West has repeatedly 90 00:04:43,600 --> 00:04:47,240 Speaker 1: said she does not support raising taxes on businesses in 91 00:04:47,279 --> 00:04:50,360 Speaker 1: any form, and her opposition to tax increases has been 92 00:04:50,520 --> 00:04:53,240 Speaker 1: part of what prevented Democrats from moving forward on a 93 00:04:53,240 --> 00:04:56,440 Speaker 1: bill like this before. Even though Mansion, you know, has 94 00:04:56,480 --> 00:04:58,920 Speaker 1: opposed a whole host of other things, she's been standing 95 00:04:58,960 --> 00:05:01,760 Speaker 1: against corporate tax increases. It will be interesting to see 96 00:05:01,760 --> 00:05:04,359 Speaker 1: if she's gonna shift her stance now because she doesn't 97 00:05:04,360 --> 00:05:06,640 Speaker 1: want to be the one in the hot seat like 98 00:05:06,680 --> 00:05:11,279 Speaker 1: Mansion has been. You also have some UH pharmaceutical company 99 00:05:11,360 --> 00:05:16,240 Speaker 1: reforms that allows Medicare to negotiate prescription drug prices with 100 00:05:16,279 --> 00:05:19,279 Speaker 1: the pharmaceutical companies, the government things that will help lower 101 00:05:19,279 --> 00:05:21,680 Speaker 1: prescription drug prices for senior So it's sort of a 102 00:05:21,720 --> 00:05:24,360 Speaker 1: grab bag of some of the stuff that Democrats wanted 103 00:05:24,360 --> 00:05:27,560 Speaker 1: and build back better. It's nowhere near as ambitious, but 104 00:05:27,680 --> 00:05:30,440 Speaker 1: it does in a lot of areas dump money into 105 00:05:30,440 --> 00:05:32,599 Speaker 1: the economy at a time when it's already overheated, and 106 00:05:32,680 --> 00:05:34,960 Speaker 1: that's obviously going to be the line that Republicans use 107 00:05:35,000 --> 00:05:37,200 Speaker 1: against it. Yeah, I just saw one item that it 108 00:05:37,240 --> 00:05:39,720 Speaker 1: was I think it was sixty billion dollars given to 109 00:05:40,279 --> 00:05:44,520 Speaker 1: disadvantaged neighborhoods who have been disproportionately affected by climate change 110 00:05:44,600 --> 00:05:47,440 Speaker 1: or something like that, which having grown up in Chicago 111 00:05:47,520 --> 00:05:50,400 Speaker 1: with the corrupt, corrupt money handout system they have there, 112 00:05:50,680 --> 00:05:54,080 Speaker 1: I know, a slush fund. When I see just just unbelievable, 113 00:05:54,240 --> 00:05:58,560 Speaker 1: just unbelievable that the UM. When I hear the biggest 114 00:05:58,600 --> 00:06:02,920 Speaker 1: investment in climate change fighting ever, I just I want 115 00:06:02,920 --> 00:06:05,960 Speaker 1: to hold onto my wallet. Maybe I'm too cynical, but 116 00:06:06,040 --> 00:06:09,080 Speaker 1: I doubt it. So now, because this is a budget 117 00:06:09,160 --> 00:06:13,159 Speaker 1: reconciliation bill, the filibuster does not factor incorrect, and it 118 00:06:13,160 --> 00:06:16,440 Speaker 1: will probably pass the House. So don't need any Republicans. Correct, 119 00:06:17,600 --> 00:06:20,040 Speaker 1: no Republicans will be needed. But the interesting thing is 120 00:06:20,080 --> 00:06:23,120 Speaker 1: they are going to need all fifty Democrats, so they 121 00:06:23,120 --> 00:06:27,040 Speaker 1: can use Senator Vice President Kamala Harris as a tiebreaker. 122 00:06:27,680 --> 00:06:30,279 Speaker 1: But one issue for Democrats right now in terms of 123 00:06:30,279 --> 00:06:34,400 Speaker 1: the timing is that, uh, their members keep getting COVID. 124 00:06:34,440 --> 00:06:36,840 Speaker 1: I mean, I believe Senator Dick Durbin is the latest 125 00:06:36,880 --> 00:06:39,800 Speaker 1: to be out for at least two weeks because of COVID, 126 00:06:40,080 --> 00:06:42,560 Speaker 1: So we can't pably be there. The Senate, unlike the House, 127 00:06:42,600 --> 00:06:45,320 Speaker 1: does not have proxy voting, so everybody has to physically 128 00:06:45,360 --> 00:06:47,719 Speaker 1: be there, so their plans keep getting pushed back and 129 00:06:47,760 --> 00:06:51,320 Speaker 1: push back and push back because members are out with COVID, 130 00:06:51,400 --> 00:06:53,680 Speaker 1: and so even though all the details of the bill 131 00:06:53,839 --> 00:06:56,120 Speaker 1: seem to have been hammered out, they might not be 132 00:06:56,160 --> 00:06:58,800 Speaker 1: able to get it done before August recess, which pushes 133 00:06:58,839 --> 00:07:04,080 Speaker 1: this into September because of the COVID outbreak that Washington's experiencing. 134 00:07:04,160 --> 00:07:06,920 Speaker 1: All right, Sarah, I'm gonna ask you to not listen 135 00:07:06,960 --> 00:07:09,520 Speaker 1: to the next few sentences. This is private to Jack. 136 00:07:12,080 --> 00:07:16,000 Speaker 1: The Republicans have to send people into the Capitol to cough. 137 00:07:18,520 --> 00:07:21,080 Speaker 1: That's that's stupid that they're still holding onto the you 138 00:07:21,200 --> 00:07:23,560 Speaker 1: gotta be there to vote. That's that's a vestige of 139 00:07:23,560 --> 00:07:28,360 Speaker 1: the eight hundred. But whatever, that's a different topic. Um uh. 140 00:07:28,400 --> 00:07:31,880 Speaker 1: Sarah Westwood, investigative reporter of the Washington Examiners on the line, 141 00:07:31,880 --> 00:07:33,720 Speaker 1: and do you want to touch on the giant chips? See, 142 00:07:33,760 --> 00:07:35,560 Speaker 1: I suppose we should before we run out of time. 143 00:07:35,640 --> 00:07:38,000 Speaker 1: So what's the big deal on the on the chip bill? 144 00:07:38,040 --> 00:07:42,640 Speaker 1: Why is this big? Well, chip bill would offer subsidies 145 00:07:42,680 --> 00:07:47,160 Speaker 1: to UH semiconductor manufacturing here in the US to sort 146 00:07:47,160 --> 00:07:50,640 Speaker 1: of full sort the US of competitiveness against China, who's 147 00:07:50,680 --> 00:07:54,800 Speaker 1: also a big manufacturer of semi conductor. And these are 148 00:07:54,880 --> 00:07:57,880 Speaker 1: chips that are using basically all kinds of technology that 149 00:07:57,920 --> 00:08:01,040 Speaker 1: we use. So it's important bills. But there were also 150 00:08:01,400 --> 00:08:04,800 Speaker 1: deficit concerns, inflationary concerns, because anytime you're talking about a 151 00:08:04,800 --> 00:08:07,320 Speaker 1: subsidy or a hand out to an industry, you're talking 152 00:08:07,360 --> 00:08:11,000 Speaker 1: about the government dumping money into an economy that's already 153 00:08:11,120 --> 00:08:14,480 Speaker 1: you know, struggling too many dollars, chasing too a few goods. 154 00:08:14,560 --> 00:08:17,880 Speaker 1: And the politics of the chips build were also sort 155 00:08:17,880 --> 00:08:20,800 Speaker 1: of surrounded in controversy, I think because of Paul Pelosi, 156 00:08:21,160 --> 00:08:25,840 Speaker 1: Nancy Pelosi's husband, making some pretty lucrative trades in the 157 00:08:25,880 --> 00:08:28,840 Speaker 1: semiconductor industry on the stock market. So there was a 158 00:08:28,880 --> 00:08:32,400 Speaker 1: lot of sort of scandal involved in this bill. And regardless, 159 00:08:32,440 --> 00:08:35,200 Speaker 1: I think it's going to have a hard time getting 160 00:08:35,200 --> 00:08:37,400 Speaker 1: through the House if all the Republicans are going to 161 00:08:37,440 --> 00:08:39,600 Speaker 1: vote against it. But you know, if if if Nancy 162 00:08:39,640 --> 00:08:43,079 Speaker 1: Pelosi can get keep all of her Democrats in line 163 00:08:43,160 --> 00:08:44,840 Speaker 1: to support it, then you know there's a good chance 164 00:08:44,880 --> 00:08:47,440 Speaker 1: that that it does become law. And Republicans are going 165 00:08:47,480 --> 00:08:49,720 Speaker 1: to be really unhappy about that. So the Republicans, all 166 00:08:49,760 --> 00:08:53,480 Speaker 1: the Republicans are against the chip bill. Also, well, leadership 167 00:08:53,520 --> 00:08:56,480 Speaker 1: is whipping against it, which means leadership has sent out 168 00:08:56,520 --> 00:09:00,679 Speaker 1: memos to all the hundreds of GOP members and said 169 00:09:00,800 --> 00:09:03,640 Speaker 1: the official position of the conference is that we would 170 00:09:03,640 --> 00:09:05,440 Speaker 1: like you to vote against this. Now, they don't do 171 00:09:05,480 --> 00:09:08,240 Speaker 1: this for every bill. Sometimes they don't whip against things. 172 00:09:08,240 --> 00:09:10,880 Speaker 1: They let members vote their conscience, as they say, but 173 00:09:11,160 --> 00:09:17,280 Speaker 1: this is an instant when conscience, yeah, saying we would 174 00:09:17,280 --> 00:09:19,319 Speaker 1: like you to vote against the spill. That doesn't mean 175 00:09:19,400 --> 00:09:22,080 Speaker 1: everyone will tow the line, but most well, But is 176 00:09:22,120 --> 00:09:25,520 Speaker 1: that as a leverage against the build back better Light 177 00:09:26,000 --> 00:09:28,120 Speaker 1: or is that because they actually are against the chip bill. 178 00:09:29,640 --> 00:09:31,360 Speaker 1: I think it's the former, you know, I think there 179 00:09:31,400 --> 00:09:33,640 Speaker 1: was a good chance this was honest way to passage 180 00:09:33,800 --> 00:09:36,320 Speaker 1: beforehand it had by partisan support. Okay, so I did 181 00:09:36,400 --> 00:09:37,800 Speaker 1: have Republicans, right, I just want to make sure I 182 00:09:37,840 --> 00:09:40,000 Speaker 1: understand that. So it had Republican support outside of the 183 00:09:40,040 --> 00:09:42,959 Speaker 1: whole using its leverage, all right, Yeah, that was pretty 184 00:09:42,960 --> 00:09:45,880 Speaker 1: solid bipartisan support. I mean, it was not uncontroversial. But 185 00:09:46,080 --> 00:09:48,120 Speaker 1: Sarah Westwood of the Examiner on the line in the 186 00:09:48,240 --> 00:09:50,200 Speaker 1: few seconds we have left, Sarah, could you give us 187 00:09:50,200 --> 00:09:52,800 Speaker 1: the brief list of government programs that have been cut 188 00:09:53,000 --> 00:09:57,760 Speaker 1: to help pay for the giant new one? So I'm 189 00:09:57,760 --> 00:09:59,320 Speaker 1: glad we only have a few seconds. So that's the 190 00:09:59,320 --> 00:10:02,079 Speaker 1: sort of thing. You are. You are. You are really 191 00:10:02,080 --> 00:10:04,960 Speaker 1: good at your job, and most people aren't. I'm not 192 00:10:05,200 --> 00:10:07,079 Speaker 1: most people are not good at the jobs. You are 193 00:10:07,080 --> 00:10:09,240 Speaker 1: really good at your job. Yeah, it's always a pleasure. 194 00:10:09,280 --> 00:10:15,199 Speaker 1: Thanks at Million, You're terrific. Thanks bye bye, farm Strong 195 00:10:15,360 --> 00:10:16,160 Speaker 1: and Jetty