1 00:00:01,960 --> 00:00:06,240 Speaker 1: Live from our nation's capital. This is Bloomberg Sound On. 2 00:00:07,160 --> 00:00:09,079 Speaker 1: We're on a timeline for two things for sure, and 3 00:00:09,160 --> 00:00:12,080 Speaker 1: that is the detonan And also, but Kiths trumpily been 4 00:00:12,200 --> 00:00:14,760 Speaker 1: seduced by the notion that we can get off the 5 00:00:14,760 --> 00:00:18,720 Speaker 1: fossil fuels much quicker than it can happen. Floomberg Sound 6 00:00:18,760 --> 00:00:23,560 Speaker 1: On Politics, Policy and perspective from DC's top names, fighting 7 00:00:23,720 --> 00:00:27,680 Speaker 1: with knowledgeable about the issues around affordable housing. Has anybody 8 00:00:27,840 --> 00:00:32,000 Speaker 1: there ever been around Excess government spending always causes inflation? 9 00:00:32,120 --> 00:00:36,559 Speaker 1: Inflation purchased the chorus families in this country. Bloomberg Sound 10 00:00:36,600 --> 00:00:42,479 Speaker 1: On with Joe Matthew on Bloomberg Radio. Democratic leaders say 11 00:00:42,479 --> 00:00:44,800 Speaker 1: they are close to a deal. And no, this is 12 00:00:44,840 --> 00:00:47,440 Speaker 1: not a rerun, this is a live broadcast. I know 13 00:00:47,560 --> 00:00:51,599 Speaker 1: you've heard this before. It's almost a Friday night tradition 14 00:00:51,760 --> 00:00:55,320 Speaker 1: these days. Now. After President Biden's town hall on CNN 15 00:00:55,320 --> 00:00:59,120 Speaker 1: and his breakfast today with Speaker Nancy Pelosi, will have 16 00:00:59,160 --> 00:01:02,040 Speaker 1: the latest from Capital Hill from Bloomberg's Emily Wilkins ahead, 17 00:01:02,400 --> 00:01:04,600 Speaker 1: and from the White House where today I spoke with 18 00:01:04,600 --> 00:01:07,640 Speaker 1: Connecticut Governor Ned Lamont, who's in Washington to data help 19 00:01:08,000 --> 00:01:10,120 Speaker 1: push for a deal, meet with his fellow governors. We 20 00:01:10,200 --> 00:01:13,199 Speaker 1: get into a number of issues, and later my conversation 21 00:01:13,240 --> 00:01:16,760 Speaker 1: with Kathleen Hicks, the Deputy Secretary of Defense, about efforts 22 00:01:16,760 --> 00:01:20,000 Speaker 1: to fight climate change, which the Pentagon now calls an 23 00:01:20,000 --> 00:01:23,880 Speaker 1: existential threat as it impacts the readiness of US troops. 24 00:01:24,000 --> 00:01:28,000 Speaker 1: The word from Speaker Pelosi is optimism after she and 25 00:01:28,040 --> 00:01:31,480 Speaker 1: Senate Majority Leader Chuck Schumer met this morning with President 26 00:01:31,480 --> 00:01:38,640 Speaker 1: Biden at the White House. Like I said, Pelosi and 27 00:01:38,640 --> 00:01:43,360 Speaker 1: Schumer talking about the infrastructure plan, the reconciliation deal, and 28 00:01:43,400 --> 00:01:46,560 Speaker 1: there are still questions about how Democrats will pay for 29 00:01:46,640 --> 00:01:49,720 Speaker 1: the spending plan, after President Biden acknowledged in his CNN 30 00:01:49,800 --> 00:01:52,840 Speaker 1: town hall last night that hiking the corporate tax rate 31 00:01:53,000 --> 00:01:57,200 Speaker 1: not likely with opposition from Senators Joe Mansion and Kirston Cinema, 32 00:01:57,200 --> 00:02:01,000 Speaker 1: though Press Secretary Jensaki today says, well, that's only one 33 00:02:01,120 --> 00:02:03,320 Speaker 1: way that major companies can help pay for this plan. 34 00:02:03,400 --> 00:02:05,360 Speaker 1: I would note that as it relates to the President's 35 00:02:05,360 --> 00:02:08,120 Speaker 1: comments last night, he was answering a question. These town 36 00:02:08,120 --> 00:02:12,280 Speaker 1: halls are conversations, that's what's so endearing and engaging about them. 37 00:02:12,440 --> 00:02:14,320 Speaker 1: But he was returning referring to the challenge of having 38 00:02:14,360 --> 00:02:16,679 Speaker 1: the votes to move forward on raising the corporate rate, 39 00:02:17,080 --> 00:02:19,320 Speaker 1: on not the ability to raise revenue through a range 40 00:02:19,320 --> 00:02:22,240 Speaker 1: of other tax fairness proposals. Pelosi and Schumer, We're not 41 00:02:22,280 --> 00:02:24,280 Speaker 1: the only ones visiting the White House today. A number 42 00:02:24,280 --> 00:02:26,640 Speaker 1: of Democratic governors were there too, as they arrived in 43 00:02:26,680 --> 00:02:30,120 Speaker 1: town for a meeting of the Democratic Governors Association, and 44 00:02:30,160 --> 00:02:31,760 Speaker 1: I was there for a bit. I spent some time 45 00:02:31,760 --> 00:02:35,120 Speaker 1: talking with Connecticut Governor Ned Lamont to get a state's 46 00:02:35,240 --> 00:02:37,200 Speaker 1: view on all of this, A little bit different conversation 47 00:02:37,240 --> 00:02:39,880 Speaker 1: that we've been having lately on sound On, and I 48 00:02:39,880 --> 00:02:42,360 Speaker 1: started by asking the governor what he learned today at 49 00:02:42,360 --> 00:02:45,400 Speaker 1: the White House about a possible timeline. I think they're 50 00:02:45,520 --> 00:02:48,480 Speaker 1: very optimistic that something is going to get past. Something's 51 00:02:48,520 --> 00:02:51,120 Speaker 1: gonna get passed very soon. I was there with a 52 00:02:51,120 --> 00:02:53,480 Speaker 1: lot of governors. I mean, I'm from an old state, Connecticut. 53 00:02:53,520 --> 00:02:56,840 Speaker 1: We have old infrastructures. So the infrastructure bill fixing our 54 00:02:56,919 --> 00:03:01,120 Speaker 1: roads and bridges absolutely vital. And I'm really please the daycare, 55 00:03:01,240 --> 00:03:04,639 Speaker 1: childcare universal pre K is staying in the final bill. 56 00:03:05,040 --> 00:03:06,760 Speaker 1: Is that going to be the case. That's what they 57 00:03:06,760 --> 00:03:09,760 Speaker 1: said today. I'm taking it home. Look, I'm a business guy. 58 00:03:09,960 --> 00:03:13,320 Speaker 1: That's news to getting people back to work is having 59 00:03:13,320 --> 00:03:17,560 Speaker 1: them that daycare and childcare university available that's in the bill. Well, 60 00:03:17,639 --> 00:03:19,239 Speaker 1: there are a lot of things in both bills. I'd 61 00:03:19,240 --> 00:03:20,640 Speaker 1: like to maybe pick through them a little bit. In 62 00:03:20,680 --> 00:03:22,960 Speaker 1: terms of the hard infrastructure Bill, as we've come to 63 00:03:23,000 --> 00:03:25,840 Speaker 1: call it, the bipartisan bill that passed the Senate, that 64 00:03:25,840 --> 00:03:28,040 Speaker 1: would give almost five and a half billion dollars, I 65 00:03:28,160 --> 00:03:30,880 Speaker 1: understand that the state of Connecticut over the next five 66 00:03:30,960 --> 00:03:33,720 Speaker 1: years or so. Would that make up for the lack 67 00:03:33,760 --> 00:03:37,040 Speaker 1: of infrastructure spending that's coming out of your General Assembly. Yeah, 68 00:03:37,160 --> 00:03:39,840 Speaker 1: that would help a lot. That would take a ten 69 00:03:39,880 --> 00:03:42,480 Speaker 1: minutes off your commute in each direction within the next 70 00:03:42,560 --> 00:03:44,800 Speaker 1: few years. We can fix some of those old bridges 71 00:03:44,920 --> 00:03:48,520 Speaker 1: where the trains slow down they speed up, make a 72 00:03:48,560 --> 00:03:51,200 Speaker 1: big difference. Look, we're a transit state, a lot of 73 00:03:51,200 --> 00:03:53,640 Speaker 1: people in and out in New York or Boston, and 74 00:03:54,040 --> 00:03:57,480 Speaker 1: that's really invaluable for us. How much work is already approved? 75 00:03:57,480 --> 00:03:59,960 Speaker 1: I understand you have billions of dollars worth of pride 76 00:04:00,080 --> 00:04:03,200 Speaker 1: jects that are ready to go. How much of that 77 00:04:03,240 --> 00:04:05,480 Speaker 1: work has already approved? And do you have the workers 78 00:04:05,520 --> 00:04:08,640 Speaker 1: to do the jobs? Well? Two questions. Hey, we got 79 00:04:08,680 --> 00:04:11,640 Speaker 1: the design and engineering, the make ready. We're ready to 80 00:04:11,720 --> 00:04:13,400 Speaker 1: hit the ground some of these grants. By the way, 81 00:04:13,480 --> 00:04:15,880 Speaker 1: Joe competitive, so I want to get in front of 82 00:04:15,880 --> 00:04:18,520 Speaker 1: the line. Your second question is about workers. That is 83 00:04:18,560 --> 00:04:21,880 Speaker 1: an issue across the country, and we're working with the trades. 84 00:04:21,920 --> 00:04:24,920 Speaker 1: We're training people right now, making sure we'll have people 85 00:04:25,240 --> 00:04:28,040 Speaker 1: uh ready when the jobs are ready to be filled. 86 00:04:28,080 --> 00:04:30,160 Speaker 1: I understand you have an unemployment rate. I think it's 87 00:04:30,200 --> 00:04:33,839 Speaker 1: seven points supercent in Connecticut. You have more jobs open 88 00:04:33,920 --> 00:04:36,840 Speaker 1: than you have people applying for work. So I wonder 89 00:04:36,880 --> 00:04:38,680 Speaker 1: where you fall on this idea. It's been a big 90 00:04:38,760 --> 00:04:41,279 Speaker 1: argument down here in Washington and probably in your capital 91 00:04:41,320 --> 00:04:44,200 Speaker 1: as well. Are people staying home because of COVID? Are 92 00:04:44,240 --> 00:04:47,320 Speaker 1: people staying home because of a lack of childcare? Or 93 00:04:47,560 --> 00:04:50,080 Speaker 1: is it something different? Is that the enhanced benefits that 94 00:04:50,160 --> 00:04:53,240 Speaker 1: kind of retrained people's minds when it comes to looking 95 00:04:53,279 --> 00:04:55,919 Speaker 1: for work. We've been talking about that. We have the 96 00:04:55,960 --> 00:04:58,720 Speaker 1: fellow governors, you know, for the last two days. By 97 00:04:58,760 --> 00:05:00,480 Speaker 1: the way, we're at six point eight per sense or 98 00:05:00,600 --> 00:05:03,839 Speaker 1: unemployment rate is dropping. I'm really happy about that. But 99 00:05:03,960 --> 00:05:06,320 Speaker 1: more to the point, I got eighty thousand jobs that 100 00:05:06,400 --> 00:05:09,159 Speaker 1: we can't fill. One thing I can tell you is 101 00:05:09,160 --> 00:05:11,080 Speaker 1: we were hit. We were hit hard. A year and 102 00:05:11,120 --> 00:05:14,120 Speaker 1: a half ago. We suffered, along with New York and 103 00:05:14,160 --> 00:05:16,359 Speaker 1: New Jersey, a lot of fatalities. A lot of our 104 00:05:16,480 --> 00:05:20,760 Speaker 1: urban populations know somebody that didn't make it through COVID. 105 00:05:21,040 --> 00:05:24,240 Speaker 1: So I think there is some hesitancy. A lot of moms, 106 00:05:24,240 --> 00:05:25,960 Speaker 1: I gotta make it easier for their kids to go 107 00:05:26,040 --> 00:05:28,600 Speaker 1: to school and make sure they get daycare and childcare 108 00:05:28,680 --> 00:05:31,440 Speaker 1: going forward. So I think it's a multi facet to 109 00:05:31,440 --> 00:05:33,560 Speaker 1: get people back to work. But the good news is 110 00:05:33,839 --> 00:05:35,920 Speaker 1: our unemployment rate is going down to a number of 111 00:05:35,960 --> 00:05:39,080 Speaker 1: people collecting unemployment is one tenth what it was a 112 00:05:39,160 --> 00:05:41,119 Speaker 1: year and a half ago. Do you feel like people 113 00:05:41,200 --> 00:05:44,440 Speaker 1: have reimagined their careers or what it is to go 114 00:05:44,520 --> 00:05:47,000 Speaker 1: to work every day? I think so, don't you. Well, 115 00:05:47,040 --> 00:05:48,599 Speaker 1: I don't know this has been a real you and 116 00:05:48,600 --> 00:05:50,520 Speaker 1: I are here in person. But I think a lot 117 00:05:50,560 --> 00:05:52,400 Speaker 1: of people found hey, I kind of like doing it 118 00:05:52,480 --> 00:05:54,960 Speaker 1: by zoom. I think a lot of people found hey, 119 00:05:55,000 --> 00:05:57,159 Speaker 1: I'm gonna try and start my own thing. Here's my 120 00:05:57,240 --> 00:06:02,039 Speaker 1: opportunity to uh upgrade my skills and do something different. Uh. 121 00:06:02,080 --> 00:06:03,560 Speaker 1: But at some point you've got to take a job. 122 00:06:03,600 --> 00:06:05,440 Speaker 1: You gotta be able to feed your family. Yeah, well 123 00:06:05,440 --> 00:06:06,920 Speaker 1: we'll see. I guess if that's going to happen in 124 00:06:06,960 --> 00:06:09,760 Speaker 1: the new year. Will this plan help? I guess is 125 00:06:09,760 --> 00:06:13,120 Speaker 1: the question. Because we've heard in terms of the soft infrastructure, 126 00:06:13,240 --> 00:06:15,360 Speaker 1: a real debate about what should be and what should 127 00:06:15,400 --> 00:06:18,400 Speaker 1: not be. In this bill, it appears were given up on, 128 00:06:18,480 --> 00:06:21,839 Speaker 1: for instance, free community college, but holding onto pre K 129 00:06:22,120 --> 00:06:25,159 Speaker 1: education and there may be a shorter time span for 130 00:06:25,200 --> 00:06:28,320 Speaker 1: the child's care benefit. What does that mean for the 131 00:06:28,360 --> 00:06:30,680 Speaker 1: state of Connecticut and getting people back to work? Governors 132 00:06:30,720 --> 00:06:33,160 Speaker 1: don't like a shorter time span. You know, these guys 133 00:06:33,160 --> 00:06:36,119 Speaker 1: are negotiating. They say we'll have her for three years 134 00:06:36,160 --> 00:06:38,760 Speaker 1: and then there's a cliff. That doesn't help. I think 135 00:06:38,760 --> 00:06:42,520 Speaker 1: the childcare, the daycare, the universal pre K, I'd make 136 00:06:42,560 --> 00:06:44,479 Speaker 1: that permanent. I think that ought to be part of 137 00:06:44,480 --> 00:06:47,120 Speaker 1: what education is. And I don't think it should end 138 00:06:47,160 --> 00:06:49,800 Speaker 1: after twelfth grade. I think people need a certificate or 139 00:06:49,839 --> 00:06:52,760 Speaker 1: an extra skill going beyond twelve to fill a lot 140 00:06:52,800 --> 00:06:54,839 Speaker 1: of the jobs you need right now. I like the 141 00:06:54,839 --> 00:06:57,640 Speaker 1: community college ad on. If it's not in this bill, though, 142 00:06:57,720 --> 00:07:00,960 Speaker 1: you'll take what you can get. Absolutely, Okay, So there's 143 00:07:00,960 --> 00:07:02,839 Speaker 1: a failure, is not an option on this deal. I 144 00:07:02,960 --> 00:07:06,000 Speaker 1: understand that's the way most Democrats feel about it. Right now, 145 00:07:06,839 --> 00:07:09,720 Speaker 1: you oppose a natural gas plant for the town of 146 00:07:09,840 --> 00:07:11,960 Speaker 1: killing Lee, Connecticut, and I know that town. I grew 147 00:07:12,040 --> 00:07:15,560 Speaker 1: up in that area. I wonder if you're seeing from 148 00:07:15,560 --> 00:07:18,360 Speaker 1: the clean energy proposals in the reconciliation plan some of 149 00:07:18,400 --> 00:07:21,840 Speaker 1: the incentives out there for solar and for wind, would 150 00:07:21,840 --> 00:07:25,560 Speaker 1: there be enough in the reconciliation bill to make up 151 00:07:25,600 --> 00:07:28,560 Speaker 1: for that lack of a gas powered plant in Killingly. 152 00:07:29,480 --> 00:07:31,640 Speaker 1: I think the market will German where they're gonna build 153 00:07:31,680 --> 00:07:35,120 Speaker 1: the last natural gas plant in Killingly. Um, we just 154 00:07:35,200 --> 00:07:37,200 Speaker 1: made the biggest commitment in the history of the state 155 00:07:37,280 --> 00:07:39,720 Speaker 1: to win powers and but at the same time we've 156 00:07:39,760 --> 00:07:43,000 Speaker 1: got Millstone, so we've got carbon free nuclear power for 157 00:07:43,040 --> 00:07:45,400 Speaker 1: another fifteen years. So I think we have a pretty 158 00:07:45,400 --> 00:07:50,320 Speaker 1: good balance with an emphasis upon reliable, affordable energy and 159 00:07:50,400 --> 00:07:52,840 Speaker 1: green energy. To what extent are you're working with your 160 00:07:52,840 --> 00:07:56,560 Speaker 1: senators Bluemnthal and Murphy to influence the outcome of this debate. 161 00:07:56,840 --> 00:08:00,040 Speaker 1: Oh like this. You know those guys are invaluable and 162 00:08:00,120 --> 00:08:04,040 Speaker 1: went forward first and foremost transportation. I go around the state, 163 00:08:04,120 --> 00:08:07,160 Speaker 1: I try and tell people this is what a transportation 164 00:08:07,200 --> 00:08:10,160 Speaker 1: bill would mean you, guys in Stanford, Connectic get down 165 00:08:10,200 --> 00:08:12,680 Speaker 1: to New York City in ten minutes less time you're 166 00:08:12,720 --> 00:08:15,400 Speaker 1: from Putnam, Connecticut. Originally you know a little bit of 167 00:08:15,440 --> 00:08:17,840 Speaker 1: bus service so you can get to and from community 168 00:08:17,840 --> 00:08:20,440 Speaker 1: college at no cost. That's what we can offer if 169 00:08:20,440 --> 00:08:23,840 Speaker 1: we get this infrastructure bill done. How critical is the timeline? 170 00:08:23,880 --> 00:08:26,160 Speaker 1: We make a big deal about deadlines around here. Is 171 00:08:26,200 --> 00:08:29,240 Speaker 1: it October thirty one? Is it December three? Do you 172 00:08:29,360 --> 00:08:32,360 Speaker 1: care if it's done, for instance, before the end of 173 00:08:32,400 --> 00:08:36,680 Speaker 1: this year or or sooner? I do? I think get 174 00:08:36,679 --> 00:08:39,800 Speaker 1: it done, let us plan accordingly, let us make sure 175 00:08:39,840 --> 00:08:41,440 Speaker 1: we have the people in place. But I don't like 176 00:08:41,559 --> 00:08:45,559 Speaker 1: us this last minute brinksmanship. That doesn't help anybody, you uh. 177 00:08:45,559 --> 00:08:48,120 Speaker 1: Speaking of brinksmanship, it brings us back to this idea 178 00:08:48,120 --> 00:08:51,520 Speaker 1: of what ends up in the bill. There have been 179 00:08:51,559 --> 00:08:54,559 Speaker 1: a lot of conversations about what form that reconciliation bill 180 00:08:54,600 --> 00:08:57,320 Speaker 1: should take in what the price tag should be. Is 181 00:08:57,320 --> 00:08:59,680 Speaker 1: it three and a half trillion? Is it two trillion? 182 00:09:00,160 --> 00:09:02,080 Speaker 1: That'll go a long way to determining what the people 183 00:09:02,080 --> 00:09:05,559 Speaker 1: of Connecticut received from this bill. What are you willing 184 00:09:05,559 --> 00:09:07,400 Speaker 1: to give up to get the rest I guess that's 185 00:09:07,400 --> 00:09:10,120 Speaker 1: the question. I'm pretty sure it's not going to be 186 00:09:10,440 --> 00:09:12,200 Speaker 1: three and a half Troy, and I think you've got 187 00:09:12,200 --> 00:09:14,680 Speaker 1: to make a deal. Um. You know, as a speaker 188 00:09:14,720 --> 00:09:17,600 Speaker 1: pointed out to us this morning, you know, when Fdr 189 00:09:17,720 --> 00:09:20,400 Speaker 1: put forward a big plan, he had ninety nine more 190 00:09:20,480 --> 00:09:23,560 Speaker 1: Democrats in the House of Representatives and then Joe Biden 191 00:09:23,600 --> 00:09:26,160 Speaker 1: has This is a pretty thin margin. So you've got 192 00:09:26,160 --> 00:09:28,880 Speaker 1: to make a deal that holds everybody together to get 193 00:09:28,960 --> 00:09:33,120 Speaker 1: a mat you already done. But again, my priorities are daycare, trailcare, 194 00:09:33,280 --> 00:09:36,319 Speaker 1: universal pre K, and if I can get some workforce 195 00:09:36,320 --> 00:09:38,959 Speaker 1: training at the community colleges on the backside, and that's 196 00:09:38,960 --> 00:09:41,400 Speaker 1: a pretty good start for me. The expansion of Medicare 197 00:09:41,480 --> 00:09:43,880 Speaker 1: was another component of that. The President talked about it 198 00:09:43,920 --> 00:09:47,160 Speaker 1: in his town hall last night on CNN. It's another 199 00:09:47,200 --> 00:09:50,040 Speaker 1: one of these given take deals, right, you might get dental, 200 00:09:50,080 --> 00:09:52,560 Speaker 1: but you might not get vision. Are you talking about 201 00:09:52,600 --> 00:09:55,520 Speaker 1: some of the alternatives with the President and with your 202 00:09:55,559 --> 00:09:58,560 Speaker 1: two senators, for instance, to get maybe those vouchers that 203 00:09:58,600 --> 00:10:02,600 Speaker 1: President Biden talked about for vision care. I think vision 204 00:10:02,640 --> 00:10:06,439 Speaker 1: care and hearing are really important. You lose touch with 205 00:10:06,600 --> 00:10:09,120 Speaker 1: reality if you don't have that as a basic need. 206 00:10:09,559 --> 00:10:11,760 Speaker 1: I think those two are affordable. I think they'll be 207 00:10:11,760 --> 00:10:14,800 Speaker 1: in the final bill. I hope they will. Getting back 208 00:10:14,840 --> 00:10:17,000 Speaker 1: to the matter of COVID, we talked about that for 209 00:10:17,040 --> 00:10:19,360 Speaker 1: a moment. With regard to the workforce, have you considered 210 00:10:19,400 --> 00:10:25,200 Speaker 1: an indoor mask mandate? Yeah? And why not? Because we've 211 00:10:25,240 --> 00:10:29,720 Speaker 1: got our adults are vaccinated increasingly at twelve to eighteen, 212 00:10:29,760 --> 00:10:33,360 Speaker 1: A vast majority of them are. I think if you're vaccinated, 213 00:10:33,600 --> 00:10:36,600 Speaker 1: you should have a little more flexibility. But that said, 214 00:10:36,640 --> 00:10:38,880 Speaker 1: if you're unvaccinated, you've got to wear the masks. That's 215 00:10:38,880 --> 00:10:41,200 Speaker 1: a rule in our state. So I left it up 216 00:10:41,240 --> 00:10:44,440 Speaker 1: to the mayors, and maybe half our mayors for a 217 00:10:44,440 --> 00:10:49,080 Speaker 1: while said where the mask indoors everybody? And increasingly they're saying, 218 00:10:49,480 --> 00:10:51,960 Speaker 1: if you're vaccinated, you don't have to one more reason, 219 00:10:52,080 --> 00:10:55,120 Speaker 1: if you need one more reason to get vaccinated. Are 220 00:10:55,160 --> 00:10:58,439 Speaker 1: you hearing from employers, those of larger scale a hundred 221 00:10:58,440 --> 00:11:01,720 Speaker 1: employers are more about this idea of a vaccine mandate 222 00:11:01,800 --> 00:11:05,560 Speaker 1: or requirement for workers to go back into the office. Yeah, 223 00:11:05,720 --> 00:11:10,200 Speaker 1: we've got healthcare workers had to get vaccinated, no alternatives. 224 00:11:10,520 --> 00:11:13,559 Speaker 1: The rest of our public sector workers vaccinated or testing 225 00:11:13,600 --> 00:11:15,960 Speaker 1: option and now we've got to think hard about some 226 00:11:16,000 --> 00:11:19,480 Speaker 1: of our major manufacturing, including into the defense industry. Big 227 00:11:19,480 --> 00:11:22,600 Speaker 1: piece of Connecticut their vaccine only and we've got to 228 00:11:22,640 --> 00:11:25,240 Speaker 1: really maneuver that carefully to make sure we have enough 229 00:11:25,240 --> 00:11:29,000 Speaker 1: workers to build submarines and jet engines and helicopter. So 230 00:11:29,040 --> 00:11:31,480 Speaker 1: if that mandate does take effect, that's something you would support. 231 00:11:32,120 --> 00:11:34,719 Speaker 1: It would I think a testing option may keep men 232 00:11:34,840 --> 00:11:37,080 Speaker 1: on the job, women on their job, But we'll see 233 00:11:37,080 --> 00:11:40,120 Speaker 1: what happens. Obviously, the vaccine is the best. Governor Lamont, 234 00:11:40,120 --> 00:11:41,960 Speaker 1: thanks so much for talking with us today on Bloomberg. 235 00:11:42,720 --> 00:11:45,920 Speaker 1: Fascinating view from outside the Beltway. Today on sound On, 236 00:11:46,040 --> 00:11:48,120 Speaker 1: coming up, we'll talk about the state of affairs with 237 00:11:48,200 --> 00:11:51,719 Speaker 1: reconciliation following a revealing conversation with the president last night 238 00:11:51,720 --> 00:11:57,920 Speaker 1: on CNN. Emily Wilkins. Next, this is Bloomberg. You're listening 239 00:11:58,000 --> 00:12:02,720 Speaker 1: to Bloomberg Sound On with Joe Matthew on Bloomberg Radio. 240 00:12:04,640 --> 00:12:07,719 Speaker 1: So it's a candid night out for President Biden. Did 241 00:12:07,720 --> 00:12:11,120 Speaker 1: you see the town hall in Baltimore may have actually 242 00:12:11,160 --> 00:12:13,840 Speaker 1: helped to move the ball on Capitol Hill as he 243 00:12:13,920 --> 00:12:17,080 Speaker 1: talked on CNN about the negotiations underway and the need 244 00:12:17,200 --> 00:12:20,360 Speaker 1: to cut a deal. Are you close to a gun deal? No, 245 00:12:20,360 --> 00:12:25,160 Speaker 1: no problems, all done. President talking with Anderson Cooper there, 246 00:12:25,880 --> 00:12:28,160 Speaker 1: well took another swing at that same question. Are you 247 00:12:28,200 --> 00:12:31,000 Speaker 1: close to a deal? I think so. You know, look, 248 00:12:31,040 --> 00:12:33,280 Speaker 1: I've been I was a senator for three d seventy 249 00:12:33,320 --> 00:12:38,360 Speaker 1: years and uh I was never I was relatively good 250 00:12:38,360 --> 00:12:40,760 Speaker 1: at putting together deals. Is this the toughest deal you've 251 00:12:40,760 --> 00:12:44,000 Speaker 1: worked on? No? No, I think banning assault weapons is 252 00:12:44,000 --> 00:12:46,480 Speaker 1: the toughest deal I worked on and succeeded. We'll see 253 00:12:46,480 --> 00:12:48,480 Speaker 1: if he still feels that way by the time this 254 00:12:48,640 --> 00:12:51,120 Speaker 1: is all done one way or the other. And we 255 00:12:51,200 --> 00:12:54,000 Speaker 1: bring in Bloomberg Government's Emily Wilkins, who spent a good 256 00:12:54,080 --> 00:12:56,440 Speaker 1: chunk of her day on Capitol Hill chasing all of 257 00:12:56,480 --> 00:12:59,600 Speaker 1: this down. It sounded like the Tonight Show in there 258 00:13:00,000 --> 00:13:02,920 Speaker 1: to Night Emily that was not canned laughter. Is this 259 00:13:03,000 --> 00:13:05,319 Speaker 1: the boy who cried Wolf? Or are they actually getting 260 00:13:05,320 --> 00:13:07,840 Speaker 1: close to a deal? As the question so right now, 261 00:13:08,200 --> 00:13:10,559 Speaker 1: where we're at in the process is that Democrats need 262 00:13:10,600 --> 00:13:13,680 Speaker 1: to take that three point five trillion dollar bill and 263 00:13:13,760 --> 00:13:17,120 Speaker 1: trim it down to about two trillion dollars, maybe a 264 00:13:17,120 --> 00:13:21,280 Speaker 1: little less. What we heard this week was Democrats actually 265 00:13:21,280 --> 00:13:24,000 Speaker 1: coming out and saying things like this is how we're 266 00:13:24,000 --> 00:13:26,360 Speaker 1: going to get there. We're not going to do tuition 267 00:13:26,400 --> 00:13:30,800 Speaker 1: free community college, the extended child care childcare tax credits 268 00:13:30,800 --> 00:13:32,880 Speaker 1: they might only last for a year. We can you 269 00:13:32,880 --> 00:13:36,280 Speaker 1: know that will save some money. And so in that sense, 270 00:13:36,400 --> 00:13:40,520 Speaker 1: we are seeing progress. But let's just be really clear here, 271 00:13:40,960 --> 00:13:44,280 Speaker 1: there is still so so much that Democrats have left 272 00:13:44,320 --> 00:13:48,080 Speaker 1: to figure out with this bill, the overall cost, what's 273 00:13:48,120 --> 00:13:50,280 Speaker 1: going to happen with the climate portion, if they're not 274 00:13:50,320 --> 00:13:53,720 Speaker 1: going to pursue clean energy plower plants like they were 275 00:13:53,760 --> 00:13:56,280 Speaker 1: initially talking about, what's going to happen with with the 276 00:13:56,320 --> 00:13:59,720 Speaker 1: funding if they if a Senator Kristen Sema doesn't go 277 00:13:59,840 --> 00:14:02,640 Speaker 1: for raising the corporate tax rate, Democrats are going to 278 00:14:02,679 --> 00:14:05,560 Speaker 1: have to find another way to raise five d forty 279 00:14:05,559 --> 00:14:09,360 Speaker 1: billion dollars for this bill. And you know, all these 280 00:14:09,360 --> 00:14:11,800 Speaker 1: things they have to be not only decided on from 281 00:14:11,800 --> 00:14:15,040 Speaker 1: a policy standpoint and put together, but then actually agreed 282 00:14:15,160 --> 00:14:19,080 Speaker 1: upon by Democrats. It's a reality check. No deal announced tonight, 283 00:14:19,720 --> 00:14:21,760 Speaker 1: not like because people were walking around saying that today 284 00:14:21,800 --> 00:14:25,680 Speaker 1: we're gonna deal tonight. By god, anything could happen. What's this? 285 00:14:25,920 --> 00:14:29,520 Speaker 1: What's the realistic view after actually speaking with lawmakers today, 286 00:14:29,960 --> 00:14:32,720 Speaker 1: this is weeks away. Could they get could they could 287 00:14:32,720 --> 00:14:34,800 Speaker 1: there be a vote next week? Or is that pipe 288 00:14:34,880 --> 00:14:38,520 Speaker 1: dream at this point? If you listen to the leaders 289 00:14:38,560 --> 00:14:41,600 Speaker 1: in Congress and President Biden, they do talk about having 290 00:14:41,600 --> 00:14:45,160 Speaker 1: a vote next week, And you know, my crystal ball 291 00:14:45,200 --> 00:14:47,200 Speaker 1: is currently in the shop, and so you know, it's 292 00:14:47,200 --> 00:14:49,840 Speaker 1: hard to say exactly well or if that will won't happen. 293 00:14:49,960 --> 00:14:52,600 Speaker 1: Right now, it's not looking great because of how much 294 00:14:52,640 --> 00:14:55,120 Speaker 1: they have left to get done. But also let's consider 295 00:14:55,200 --> 00:14:58,600 Speaker 1: what happened the last time that they had an arbitrary deadline. 296 00:14:58,840 --> 00:15:01,600 Speaker 1: Everyone worked all night, was no votes. They did work 297 00:15:01,640 --> 00:15:03,920 Speaker 1: all night, but you did see them start to get closer. 298 00:15:03,960 --> 00:15:06,520 Speaker 1: You saw some agreements emerge, You saw everyone a little 299 00:15:06,560 --> 00:15:08,640 Speaker 1: bit more be able to get on the same page 300 00:15:08,680 --> 00:15:11,680 Speaker 1: for the process for the top line number, and you 301 00:15:11,720 --> 00:15:15,120 Speaker 1: did see progress being made. The pressure of that deadline, 302 00:15:15,160 --> 00:15:18,680 Speaker 1: however arbitrary it was, did move things forward. And so 303 00:15:18,720 --> 00:15:20,880 Speaker 1: I think what we're keeping an eye out for next 304 00:15:20,880 --> 00:15:23,920 Speaker 1: week is how much progress is actually made. And I 305 00:15:23,960 --> 00:15:27,080 Speaker 1: think part of the question is as well, if enough 306 00:15:27,120 --> 00:15:30,600 Speaker 1: progress is made on that reconciliation package, that social spending 307 00:15:30,680 --> 00:15:33,800 Speaker 1: and tax package. If Democrats can get a really solid 308 00:15:33,880 --> 00:15:36,760 Speaker 1: framework that President Biden can but a stamp of approval on, 309 00:15:37,080 --> 00:15:40,280 Speaker 1: could they go ahead and move that bipartisan infrastructure bill 310 00:15:40,600 --> 00:15:44,040 Speaker 1: that so many lawmakers want to see get signed into 311 00:15:44,120 --> 00:15:48,280 Speaker 1: laws so the money can start going out to Rhodes highways, bridges, broadband, 312 00:15:48,400 --> 00:15:51,400 Speaker 1: all things that that lawmakers really of every party want 313 00:15:51,480 --> 00:15:54,680 Speaker 1: to see happen. So interesting comments from the President about 314 00:15:54,800 --> 00:15:57,600 Speaker 1: Senator Mansion and Senator Cinema for that matter, when he 315 00:15:57,680 --> 00:16:00,440 Speaker 1: was in the middle of answering a question about his 316 00:16:00,480 --> 00:16:06,479 Speaker 1: proposed expansion to Medicare. Mr Manson is uh as opposed 317 00:16:06,720 --> 00:16:11,160 Speaker 1: to that, as is uh. I think Senator Cinema is 318 00:16:11,200 --> 00:16:14,400 Speaker 1: apposed to all of them. Opposed to all three because 319 00:16:14,800 --> 00:16:17,160 Speaker 1: they don't want He says, he doesn't want to further 320 00:16:17,280 --> 00:16:21,200 Speaker 1: burden medic care so that because it will run out 321 00:16:21,200 --> 00:16:24,520 Speaker 1: of its ability to maintain itself in the next number 322 00:16:24,520 --> 00:16:27,480 Speaker 1: of years. There's ways to fix that on interest in 323 00:16:27,480 --> 00:16:30,680 Speaker 1: that part either. But look, Joe, Joe is not a 324 00:16:30,720 --> 00:16:32,960 Speaker 1: bad guy, and he's a friend, and he's always the 325 00:16:33,040 --> 00:16:35,240 Speaker 1: end of the day come around and voted. Joe is 326 00:16:35,280 --> 00:16:37,440 Speaker 1: not a bad guy. He's a friend. And when he 327 00:16:37,520 --> 00:16:40,680 Speaker 1: was talking about Kirston Cinema Emily, he said she's as 328 00:16:40,760 --> 00:16:44,520 Speaker 1: smart as the devil. Are these backhanded compliments or does 329 00:16:44,560 --> 00:16:47,160 Speaker 1: he actually have a good relationship with them. I mean, 330 00:16:47,520 --> 00:16:50,920 Speaker 1: you've seen President Biden. I mean he served with Mansion 331 00:16:51,040 --> 00:16:53,680 Speaker 1: when when they were in the Senate together. Obviously, Kirsten 332 00:16:53,760 --> 00:16:56,880 Speaker 1: Cinema has is a newer member to Congress. But you know, 333 00:16:56,920 --> 00:17:00,000 Speaker 1: Biden does pride himself on these relationships, on his ability 334 00:17:00,320 --> 00:17:02,680 Speaker 1: to work with senators, to sit down and to talk 335 00:17:02,680 --> 00:17:04,440 Speaker 1: with them. God knows, they keep going to the White 336 00:17:04,440 --> 00:17:06,880 Speaker 1: House for meetings they do. And to be honest, when 337 00:17:06,880 --> 00:17:10,240 Speaker 1: I talk to lawmakers Democrats on Capitol Hill, they'll be like, look, 338 00:17:10,760 --> 00:17:13,000 Speaker 1: we don't really agree with what Joe Manchin is doing. 339 00:17:13,200 --> 00:17:15,800 Speaker 1: We're not super happy with the policies that he isn't 340 00:17:15,880 --> 00:17:19,560 Speaker 1: isn't backing up, they say. But he's out there, he's negotiating, 341 00:17:19,800 --> 00:17:22,480 Speaker 1: he's being transparent, and he's being a part of the process. 342 00:17:22,520 --> 00:17:25,439 Speaker 1: Now there is a little more frustration with the senator 343 00:17:25,520 --> 00:17:29,120 Speaker 1: from Arizona, Kirsten Sema there. The lawmakers feel like she's 344 00:17:29,119 --> 00:17:32,639 Speaker 1: been a little less transparent, But according to President Biden, 345 00:17:32,720 --> 00:17:34,680 Speaker 1: she is working with the White House, and I think 346 00:17:34,680 --> 00:17:38,280 Speaker 1: this is just an acknowledgement. You're in a fifty fifty senate. Uh, 347 00:17:38,320 --> 00:17:40,679 Speaker 1: any one of those senators could wind up blocking this 348 00:17:40,760 --> 00:17:43,359 Speaker 1: bill overall. And so now now is not the time 349 00:17:43,400 --> 00:17:46,040 Speaker 1: to make enemies. I mean, you have seen Biden come 350 00:17:46,080 --> 00:17:48,760 Speaker 1: out kind of in the past and and and you know, 351 00:17:48,840 --> 00:17:51,760 Speaker 1: allude to them in a in a not so friendly way. Um. 352 00:17:51,840 --> 00:17:54,119 Speaker 1: But I think his tone sort of speaks the fact 353 00:17:54,160 --> 00:17:57,800 Speaker 1: that they are engaging. They are talking um and you 354 00:17:57,840 --> 00:18:00,320 Speaker 1: know we are we are learning more about Senator send 355 00:18:00,320 --> 00:18:03,040 Speaker 1: most positions on certain things he did acknowledge, as I 356 00:18:03,119 --> 00:18:06,480 Speaker 1: mentioned at the outside of the program, corporate tax hike 357 00:18:06,680 --> 00:18:09,280 Speaker 1: not likely. They're now looking for alternatives. We only have 358 00:18:09,320 --> 00:18:11,439 Speaker 1: about thirty seconds left, Emily, but that's going to be 359 00:18:11,440 --> 00:18:13,720 Speaker 1: a big part of the conversation in the next couple 360 00:18:13,760 --> 00:18:16,760 Speaker 1: of days, absolutely huge. We're hearing things such as potentially 361 00:18:16,760 --> 00:18:20,119 Speaker 1: an excise tax on companies that buy back their stocks. 362 00:18:20,160 --> 00:18:23,040 Speaker 1: There's been some discussion about attacks on millionaires or billionaires. 363 00:18:23,280 --> 00:18:25,679 Speaker 1: Lots of options out there, but it's gonna be a 364 00:18:25,720 --> 00:18:27,560 Speaker 1: long road to figure out what needs to be done. 365 00:18:27,600 --> 00:18:29,439 Speaker 1: Emily Wilkins will be back a little bit later on 366 00:18:29,480 --> 00:18:31,080 Speaker 1: this hour and coming up we turned to what the 367 00:18:31,080 --> 00:18:34,160 Speaker 1: Pentagon is calling an existential threat. It is not North 368 00:18:34,240 --> 00:18:38,280 Speaker 1: Korea or Iran or China for that matter, it's climate. 369 00:18:38,320 --> 00:18:41,040 Speaker 1: We'll talk about it with the Deputy Secretary of Defense 370 00:18:41,119 --> 00:18:44,200 Speaker 1: Kathleen Hicks. Coming up next here on sound On, Stay 371 00:18:44,200 --> 00:18:51,080 Speaker 1: with us. I'm Joe Matthew. This is Bloomberg broadcasting live 372 00:18:51,240 --> 00:18:57,520 Speaker 1: from our nation's capital. Bloomberg to New York, Bloomberg to Boston, 373 00:18:57,800 --> 00:19:01,920 Speaker 1: Bloomberg one six one to send Cisco, Bloomberg nine six 374 00:19:02,320 --> 00:19:05,639 Speaker 1: to the country, serious x M General one nine and 375 00:19:05,720 --> 00:19:09,080 Speaker 1: around the globe, the Bloomberg Business app and Bloomberg Radio 376 00:19:09,240 --> 00:19:13,920 Speaker 1: dot Com. This is Bloomberg Sound On with Joe Matthew. 377 00:19:15,240 --> 00:19:19,000 Speaker 1: The headline on the terminal climate change damaging troop readiness. 378 00:19:19,560 --> 00:19:22,440 Speaker 1: Pentagon's Hicks says, coming up, we'll talk with her. That's 379 00:19:22,520 --> 00:19:26,080 Speaker 1: Kathleen Hicks, the Deputy Secretary of Defense, about a new 380 00:19:26,080 --> 00:19:29,159 Speaker 1: climate risk analysis out from the Pentagon, the risks to 381 00:19:29,240 --> 00:19:33,040 Speaker 1: readiness and the funding needed to fix it. We've talked 382 00:19:33,040 --> 00:19:36,600 Speaker 1: about the Biden administration's new approach to climate change. White 383 00:19:36,640 --> 00:19:38,280 Speaker 1: House is out with the report just about a week 384 00:19:38,280 --> 00:19:41,960 Speaker 1: ago showing the impact of climate specifically on the economy, 385 00:19:42,000 --> 00:19:45,359 Speaker 1: everything from supply chains to the mortgage market. But you 386 00:19:45,400 --> 00:19:48,400 Speaker 1: can add the military to that list. As the Pentagon 387 00:19:48,480 --> 00:19:51,000 Speaker 1: releases a new risk assessment on climate change, we talk 388 00:19:51,080 --> 00:19:53,719 Speaker 1: about the impact now, the impact on readiness and national 389 00:19:53,760 --> 00:19:59,600 Speaker 1: security with the Deputy Secretary of Defense, Kathleen Hicks. Secretary, 390 00:19:59,600 --> 00:20:03,119 Speaker 1: welcome to Bloomberg Radio. Thank you so much, Joe. So 391 00:20:03,160 --> 00:20:06,680 Speaker 1: the Pentagon is treating climate change as an existential threat 392 00:20:06,720 --> 00:20:10,159 Speaker 1: those words from Secretary Austin, and after reading through your 393 00:20:10,200 --> 00:20:13,719 Speaker 1: new climate risk analysis, there's a lot here. Is the 394 00:20:13,800 --> 00:20:17,160 Speaker 1: threat from climate is serious as those posed by North 395 00:20:17,240 --> 00:20:21,919 Speaker 1: Korea or Iran. Well, just the challenge for the Defense 396 00:20:21,960 --> 00:20:24,840 Speaker 1: Department always is we have to manage multiple risks at 397 00:20:24,840 --> 00:20:27,320 Speaker 1: any given time. We never really have the luxury of 398 00:20:27,359 --> 00:20:30,840 Speaker 1: looking at only one thing. On climate change, it affects 399 00:20:30,960 --> 00:20:33,600 Speaker 1: what we're called to do to span the range of 400 00:20:33,680 --> 00:20:36,119 Speaker 1: missions were called to do, our readiness to do it, 401 00:20:36,640 --> 00:20:40,000 Speaker 1: and the costs for executing those missions. So it's it's 402 00:20:40,040 --> 00:20:43,520 Speaker 1: incredibly important that we have a strong understanding of the 403 00:20:43,600 --> 00:20:46,960 Speaker 1: risks of climate change and that we have a strong 404 00:20:47,040 --> 00:20:50,080 Speaker 1: plan in place to deal with those risks. Has our 405 00:20:50,119 --> 00:20:54,160 Speaker 1: troop readiness been impacted by climate change? Already sure has 406 00:20:54,520 --> 00:20:57,800 Speaker 1: um it uh. Climate change and extreme weather events caused 407 00:20:57,840 --> 00:21:01,240 Speaker 1: by climate change effect everything from the number of days 408 00:21:01,240 --> 00:21:03,920 Speaker 1: we can be flying in the air and training. UM. 409 00:21:03,960 --> 00:21:07,720 Speaker 1: It certainly affects for those installations that are have sea 410 00:21:07,840 --> 00:21:10,680 Speaker 1: level or drought issues, that affects the ability to use 411 00:21:10,760 --> 00:21:14,479 Speaker 1: those installations. We people often think of the coastlines. We 412 00:21:14,560 --> 00:21:17,280 Speaker 1: had it off at Air Force based in in um, 413 00:21:17,560 --> 00:21:22,440 Speaker 1: Nebraska several years ago, a storm that caused billions that's 414 00:21:22,480 --> 00:21:25,000 Speaker 1: with a b billions of dollars of damage that took 415 00:21:25,000 --> 00:21:29,760 Speaker 1: out the air um the runway excuse me there at 416 00:21:29,800 --> 00:21:32,440 Speaker 1: off it um. So that sort of thing is happening 417 00:21:32,480 --> 00:21:35,680 Speaker 1: every day um And as I mentioned on just the 418 00:21:35,840 --> 00:21:40,320 Speaker 1: fuel line piece and the endurance capability for instance of 419 00:21:40,359 --> 00:21:44,159 Speaker 1: our aircraft absent having fuel. Those sort of day to 420 00:21:44,240 --> 00:21:47,840 Speaker 1: day readiness implications also can have significant implications for how 421 00:21:47,840 --> 00:21:50,280 Speaker 1: we think about the way we fight in the future. 422 00:21:51,040 --> 00:21:54,520 Speaker 1: You point out over the past several years that extreme 423 00:21:54,520 --> 00:21:57,280 Speaker 1: weather has cost the Pentagon billions at Camp Les June 424 00:21:57,320 --> 00:21:59,920 Speaker 1: in North Carolina at Tendal Air Force Base in floor 425 00:22:00,040 --> 00:22:03,320 Speaker 1: to what physical changes do you need to make a 426 00:22:03,440 --> 00:22:06,600 Speaker 1: facilities like those? Have you gotten that for you? Yeah? 427 00:22:06,600 --> 00:22:08,760 Speaker 1: We have. I I had a chance earlier this year 428 00:22:08,840 --> 00:22:11,479 Speaker 1: to travel down to Florida actually and visit Naval Air 429 00:22:11,560 --> 00:22:15,640 Speaker 1: Station Pensacola in the aftermath of Hurricane Sally, to really 430 00:22:15,680 --> 00:22:19,960 Speaker 1: see firsthand what's happening in many of these installations UM 431 00:22:20,000 --> 00:22:23,239 Speaker 1: and you're seeing everything from of course, roofsoft buildings, from 432 00:22:23,320 --> 00:22:27,920 Speaker 1: high winds. You're seeing sea walls UM taken down. I mentioned, 433 00:22:27,960 --> 00:22:31,720 Speaker 1: we've seen runways taken out. Of course, Tindle was all 434 00:22:31,760 --> 00:22:34,679 Speaker 1: but wiped off the map and has to be completely rebuilt. 435 00:22:35,320 --> 00:22:40,000 Speaker 1: We have instituted an offense department a Installation Assessment tool, 436 00:22:40,240 --> 00:22:45,080 Speaker 1: which we're using UM for fourteen hundred installations and UH 437 00:22:45,240 --> 00:22:48,560 Speaker 1: that will really help us get a handle on what 438 00:22:48,840 --> 00:22:52,320 Speaker 1: both the current effects and likely effects of climate change are. 439 00:22:52,359 --> 00:22:55,760 Speaker 1: What the biggest risk factors are UM. Drought is a 440 00:22:55,800 --> 00:22:59,160 Speaker 1: major one. I mentioned sea level is another sea level rise, 441 00:22:59,640 --> 00:23:02,280 Speaker 1: but there others UM and that will also help us 442 00:23:02,280 --> 00:23:06,919 Speaker 1: prioritize our asked to Congress for installation improvements to increase 443 00:23:06,920 --> 00:23:10,439 Speaker 1: our resiliency. Well, that runs to my next question, and 444 00:23:10,480 --> 00:23:13,480 Speaker 1: that's does Depentagon have the funding to handle this or 445 00:23:13,520 --> 00:23:15,520 Speaker 1: are you now seeking that funding? I think you just 446 00:23:15,600 --> 00:23:19,920 Speaker 1: answered me. We have always had to have funding for 447 00:23:20,000 --> 00:23:24,360 Speaker 1: this kind of resiliency. Uh, the funding levels are increasing, 448 00:23:24,400 --> 00:23:28,480 Speaker 1: that costs are rising, that is certainly true. We will 449 00:23:28,520 --> 00:23:31,439 Speaker 1: begin with this fiscal year twenty three budget that we 450 00:23:31,480 --> 00:23:35,000 Speaker 1: are putting out in the spring, that the President would 451 00:23:35,000 --> 00:23:40,640 Speaker 1: put forward in spring of the fullest accounting we can 452 00:23:40,960 --> 00:23:45,240 Speaker 1: of what constitutes those sorts of costs. The Department that 453 00:23:45,280 --> 00:23:48,080 Speaker 1: instead of has long paid these costs, but we haven't 454 00:23:48,240 --> 00:23:50,840 Speaker 1: tagged them, if you will, we haven't identified them as 455 00:23:50,880 --> 00:23:53,720 Speaker 1: related to climate. So I think going forward will have 456 00:23:54,000 --> 00:23:57,119 Speaker 1: a much more transparency for the American publican for the 457 00:23:57,200 --> 00:24:01,280 Speaker 1: Congress around what the costs are for resiliency. I ask 458 00:24:01,359 --> 00:24:04,200 Speaker 1: you that because you know we're we're obsessed with negotiations 459 00:24:04,280 --> 00:24:06,399 Speaker 1: on Capitol Hill right now and we're reporting on them 460 00:24:06,440 --> 00:24:09,960 Speaker 1: throughout the day in terms of the President's infrastructure agenda, 461 00:24:10,080 --> 00:24:13,320 Speaker 1: and there are climate provisions in here, and I wonder 462 00:24:13,359 --> 00:24:15,800 Speaker 1: how much of what the Pentagon wants to do in 463 00:24:15,840 --> 00:24:18,240 Speaker 1: the coming years depends on the outcome of these talks, 464 00:24:18,400 --> 00:24:21,680 Speaker 1: or or how much of that is already underweg Secretary. 465 00:24:22,040 --> 00:24:24,720 Speaker 1: We are absolutely part of building back better here in 466 00:24:24,760 --> 00:24:28,359 Speaker 1: the United States, and we have significant infrastructure needs just 467 00:24:28,600 --> 00:24:32,560 Speaker 1: like uh, you know roads that the public depends on. 468 00:24:32,640 --> 00:24:35,520 Speaker 1: We depend on those roads. We depend on our ports 469 00:24:35,560 --> 00:24:40,919 Speaker 1: being effective, UM, railways, etcetera. For us, we also have 470 00:24:41,040 --> 00:24:45,480 Speaker 1: costs that will not be captured UM in these infrastructure discussions. 471 00:24:45,480 --> 00:24:48,480 Speaker 1: So when you think about electric vehicle charging stations for 472 00:24:49,240 --> 00:24:52,280 Speaker 1: the fleets of vehicles, think about rental cars, but put 473 00:24:52,320 --> 00:24:55,280 Speaker 1: them on you know, military basis, as our government vehicles 474 00:24:55,320 --> 00:24:58,600 Speaker 1: that are our civilians and military used to get from 475 00:24:58,640 --> 00:25:02,240 Speaker 1: one place to another first fitial business. As those switch 476 00:25:02,359 --> 00:25:06,480 Speaker 1: over as all of American cars which over to electric vehicles, 477 00:25:06,520 --> 00:25:10,720 Speaker 1: for instance, we will need charging stations. That's one small example. 478 00:25:11,200 --> 00:25:15,880 Speaker 1: Congress has required us to move to resilient electricity, so 479 00:25:16,080 --> 00:25:19,800 Speaker 1: setting up micro grid UM for all our installations. Those 480 00:25:19,800 --> 00:25:22,600 Speaker 1: are costs that will be beyond what's being discussed today 481 00:25:22,760 --> 00:25:26,560 Speaker 1: in the infrastructure build But all of those UM advantages 482 00:25:26,560 --> 00:25:29,840 Speaker 1: and improvements that are made on the commercial sector, we 483 00:25:29,920 --> 00:25:32,720 Speaker 1: will want to take advantage of all of that innovation. 484 00:25:33,040 --> 00:25:36,080 Speaker 1: For the military. These are big projects. And of course 485 00:25:36,160 --> 00:25:38,600 Speaker 1: you know there's there are two different approaches here. I 486 00:25:38,640 --> 00:25:42,240 Speaker 1: suspect one is mitigating the impacts of climate change. The 487 00:25:42,240 --> 00:25:46,080 Speaker 1: other is lowering our own impact on climate and It's 488 00:25:46,119 --> 00:25:48,240 Speaker 1: been said that the Department of Defense is one of 489 00:25:48,240 --> 00:25:50,639 Speaker 1: the biggest polluters in the nation simply through its scale. 490 00:25:50,640 --> 00:25:53,919 Speaker 1: Your footprint is bigger than any corporation in the US 491 00:25:54,000 --> 00:25:57,520 Speaker 1: with thousands of facilities. Where are you investing, Secretary, how 492 00:25:57,600 --> 00:26:00,680 Speaker 1: much do you need to invest to reverse your own 493 00:26:00,680 --> 00:26:05,159 Speaker 1: impact on climate? Well, we're building that fifty year budget 494 00:26:05,280 --> 00:26:07,520 Speaker 1: right now. How much more after what we think the 495 00:26:07,600 --> 00:26:11,199 Speaker 1: costs are? And you're absolutely right, man, We're just going 496 00:26:11,240 --> 00:26:15,360 Speaker 1: to get a very major admitter. Um. That's that happens 497 00:26:15,359 --> 00:26:17,920 Speaker 1: in a number of ways, the fuel that we buy, 498 00:26:18,280 --> 00:26:22,560 Speaker 1: the way in which we operate our military. Um, think 499 00:26:22,600 --> 00:26:27,000 Speaker 1: of planes, uh, think of our tanks, etcetera. So bottom line, 500 00:26:27,040 --> 00:26:29,000 Speaker 1: there are a lot of lines of effort in the 501 00:26:29,119 --> 00:26:35,560 Speaker 1: adaptation strategy that we're we've just put out. Kathleen Hicks, 502 00:26:35,640 --> 00:26:37,960 Speaker 1: Deputy Secretary of Defense, we thank you for being with 503 00:26:38,000 --> 00:26:41,760 Speaker 1: us on Bloomberg Radio. Thank you. Joe's my pleasure. Coming up, 504 00:26:41,760 --> 00:26:44,240 Speaker 1: we'll talk about what we just learned from the secretary 505 00:26:44,359 --> 00:26:47,840 Speaker 1: and focus more on the climate components of the Reconciliation 506 00:26:47,920 --> 00:26:51,159 Speaker 1: Bill with Bloomberg. Government's Emily Wilkins will also talk to 507 00:26:51,200 --> 00:26:55,960 Speaker 1: Bloomberg Climate reporter Peter Martin help us digest and learn 508 00:26:56,000 --> 00:26:58,240 Speaker 1: from what we just heard. Stay with us on sound On. 509 00:26:58,359 --> 00:27:01,399 Speaker 1: We'll check markets and try affic. Next. I'm Joe Matthew. 510 00:27:01,600 --> 00:27:05,720 Speaker 1: This is Bloomberg. You're listening to Bloomberg. You Sound on 511 00:27:06,119 --> 00:27:11,680 Speaker 1: with Joe Matthew on Bloomberg Radio. We just heard from 512 00:27:11,680 --> 00:27:15,119 Speaker 1: the second in charge at the Pentagon climate change is 513 00:27:15,240 --> 00:27:19,320 Speaker 1: damaging troop readiness. Based on what the Deputy Secretary of 514 00:27:19,359 --> 00:27:21,320 Speaker 1: Defense just told us, it will cost a lot to 515 00:27:21,440 --> 00:27:23,880 Speaker 1: keep up with mother Nature. So let's talk about it 516 00:27:24,280 --> 00:27:27,960 Speaker 1: with our reporter's panel. Emily Wilkins is back from Bloomberg 517 00:27:28,040 --> 00:27:30,920 Speaker 1: Government Congressional reporter. We're also joined right now by Bloomberg 518 00:27:30,960 --> 00:27:34,919 Speaker 1: Defense policy reporter Peter Martin, who turned this into a 519 00:27:34,960 --> 00:27:37,560 Speaker 1: story on the terminal, and Peter, we thank you for that. 520 00:27:37,600 --> 00:27:40,840 Speaker 1: I just wonder what your reaction is to hear from 521 00:27:40,840 --> 00:27:44,320 Speaker 1: the second in command at the Pentagon talk about troop 522 00:27:44,359 --> 00:27:47,080 Speaker 1: readiness in fact already being damaged. This is not a 523 00:27:47,200 --> 00:27:49,800 Speaker 1: threat in the future, it's it's already happening now. Is 524 00:27:49,800 --> 00:27:53,160 Speaker 1: the Pentagon ready to handle this? Yeah? I think it's 525 00:27:53,160 --> 00:27:55,639 Speaker 1: it's striking the emphasis that they're putting on this and 526 00:27:55,760 --> 00:28:01,080 Speaker 1: almost ranking climate change up with your career and Irana's threats, 527 00:28:01,119 --> 00:28:04,800 Speaker 1: and and kind of emphasizing that the ability of the 528 00:28:04,800 --> 00:28:07,080 Speaker 1: potential impact this can have on the ability of the 529 00:28:07,160 --> 00:28:11,040 Speaker 1: US to wage war in the future. It shows just 530 00:28:11,040 --> 00:28:14,520 Speaker 1: just how higher prayer and the the Administration spaces on it. Yeah, 531 00:28:14,560 --> 00:28:16,560 Speaker 1: do you have a sense of what this might cost that. 532 00:28:16,640 --> 00:28:19,080 Speaker 1: I'm not sure that the Pentagon has has actually crunched 533 00:28:19,119 --> 00:28:22,760 Speaker 1: the numbers yet, but we're talking billions right right, We're 534 00:28:22,800 --> 00:28:27,160 Speaker 1: talking very considerable amounts of money. I mean everything from 535 00:28:27,160 --> 00:28:32,160 Speaker 1: from installing uh, you know, electric vehicle charging stations, through 536 00:28:32,280 --> 00:28:37,040 Speaker 1: to making sure that USUM military facilities are equipped to 537 00:28:37,119 --> 00:28:40,840 Speaker 1: handle the challenges of extreme weather and rising sea levels. 538 00:28:41,120 --> 00:28:45,320 Speaker 1: It's going to be a hefty price tag. Yeah, Emily 539 00:28:45,400 --> 00:28:48,640 Speaker 1: is with us in studio. I'm talking to Emily. By 540 00:28:48,680 --> 00:28:51,240 Speaker 1: the way, Uh, Peter, maybe you can jump off that 541 00:28:51,400 --> 00:28:54,840 Speaker 1: speaker phone. We can get a better sound quality for 542 00:28:54,880 --> 00:28:56,440 Speaker 1: you to actually hear what you're saying. This is a 543 00:28:56,480 --> 00:28:58,800 Speaker 1: big deal, Emily, across the government, right, it's coming to 544 00:28:58,800 --> 00:29:02,080 Speaker 1: this with the BI administration likes to call it's all 545 00:29:02,080 --> 00:29:05,920 Speaker 1: of government approach, and the Pentagon is of course a 546 00:29:05,960 --> 00:29:07,840 Speaker 1: big part of that. As I just mentioned with the 547 00:29:07,880 --> 00:29:11,000 Speaker 1: Deputy Secretary. It is one of the biggest polluters of 548 00:29:11,160 --> 00:29:13,200 Speaker 1: you know, kind of a single entity, more than any 549 00:29:13,240 --> 00:29:16,720 Speaker 1: corporation in this country, and it's also dealing with its 550 00:29:16,720 --> 00:29:20,560 Speaker 1: own risks all over the world, those climate risks that 551 00:29:20,680 --> 00:29:25,440 Speaker 1: other countries aren't necessarily addressing. That's absolutely right. I mean, 552 00:29:25,880 --> 00:29:29,320 Speaker 1: you've seen the military just be very blunt and forthcoming 553 00:29:29,440 --> 00:29:32,200 Speaker 1: with the fact that they are hit being hit hard 554 00:29:32,640 --> 00:29:35,520 Speaker 1: by the impacts of climate change. And you're also seeing 555 00:29:35,520 --> 00:29:38,480 Speaker 1: the Biden administration try and take you know, multiple tax 556 00:29:38,480 --> 00:29:41,440 Speaker 1: They've put out a lot of executive orders, you know, 557 00:29:41,520 --> 00:29:45,720 Speaker 1: asking various departments of the government, Pentagon, Department of Defense included, 558 00:29:46,040 --> 00:29:48,640 Speaker 1: to find ways to be more climate friendly, to not 559 00:29:48,760 --> 00:29:52,000 Speaker 1: invest in polluters, things of that nature. But really, you know, 560 00:29:52,080 --> 00:29:54,600 Speaker 1: the big stuff, the big long term stuff that's going 561 00:29:54,680 --> 00:29:57,719 Speaker 1: to stick, it needs to be done through legislation. And 562 00:29:57,760 --> 00:30:00,520 Speaker 1: that's why the provisions in this social spending and tax 563 00:30:00,560 --> 00:30:04,600 Speaker 1: bill that deal with climate are so important and why 564 00:30:04,640 --> 00:30:06,960 Speaker 1: there was a lot of discussion right now about what's 565 00:30:07,000 --> 00:30:10,080 Speaker 1: going to happen now that one of the key provisions, uh, 566 00:30:10,160 --> 00:30:12,480 Speaker 1: the clean energy doesn't seem like it's going to be 567 00:30:12,560 --> 00:30:14,760 Speaker 1: able to make the final bills. So let's get into 568 00:30:14,800 --> 00:30:18,840 Speaker 1: that that this was a pretty big component of the 569 00:30:18,920 --> 00:30:22,200 Speaker 1: original plan for reconciliation, right. It was essentially a plan 570 00:30:22,320 --> 00:30:25,920 Speaker 1: to incentivize utilities to use green energy and in fact 571 00:30:25,920 --> 00:30:28,680 Speaker 1: penalize them when they do not. When you're the Senator 572 00:30:28,720 --> 00:30:31,560 Speaker 1: from West Virginia, that's not a great idea. Apparently it's not. 573 00:30:31,760 --> 00:30:34,240 Speaker 1: And that's why this provision is having so much trouble 574 00:30:34,360 --> 00:30:37,840 Speaker 1: right now is because Senator Joe Mansion does not approve 575 00:30:37,880 --> 00:30:40,280 Speaker 1: of it. Now. When I talked to Democrats who had 576 00:30:40,320 --> 00:30:43,440 Speaker 1: come back from meeting with Biden earlier this week, they 577 00:30:43,440 --> 00:30:45,640 Speaker 1: were kind of resigned that it didn't look like this 578 00:30:45,680 --> 00:30:48,760 Speaker 1: program was going to make the final cut, but they 579 00:30:48,800 --> 00:30:51,479 Speaker 1: said that the key thing for them is that we 580 00:30:51,520 --> 00:30:53,760 Speaker 1: need to be on track for the US to meet 581 00:30:53,760 --> 00:30:57,520 Speaker 1: that emissions goal of a fifty percent reduction and admissions 582 00:30:57,560 --> 00:31:01,280 Speaker 1: by the end of the decade. So and lawmaker said, look, 583 00:31:01,280 --> 00:31:03,520 Speaker 1: as long as we can come up with policies that 584 00:31:03,560 --> 00:31:07,200 Speaker 1: will reduce emissions, then we will be supportive of a 585 00:31:07,280 --> 00:31:10,720 Speaker 1: final bill, even if it doesn't include this one program. 586 00:31:10,960 --> 00:31:14,000 Speaker 1: We're back on the line with Peter. I appreciate your 587 00:31:14,040 --> 00:31:16,640 Speaker 1: doing that Forest Peter to reconnect. We just want to 588 00:31:16,640 --> 00:31:18,960 Speaker 1: hear you're a little bit better because the Pentagon is 589 00:31:19,000 --> 00:31:22,160 Speaker 1: looking at this truly from a global perspective. It's not 590 00:31:22,320 --> 00:31:24,680 Speaker 1: limited to the borders of our country here, whether you're 591 00:31:24,720 --> 00:31:27,520 Speaker 1: in Guam or whether you're in the Middle East. This 592 00:31:27,600 --> 00:31:29,920 Speaker 1: is something that the Pentagon has to deal with no 593 00:31:29,960 --> 00:31:32,600 Speaker 1: matter where it is or where we're deployed in the world. 594 00:31:32,640 --> 00:31:34,800 Speaker 1: How do you manage that when you're essentially at the 595 00:31:34,800 --> 00:31:38,840 Speaker 1: mercy of other countries policies as well. Well, you know, 596 00:31:39,000 --> 00:31:41,120 Speaker 1: what was what was really interesting I thought was the 597 00:31:41,160 --> 00:31:44,360 Speaker 1: way the Deputy Secretary Hicks put this in the context 598 00:31:44,400 --> 00:31:47,320 Speaker 1: of the rise of China. Right, So, this is it's 599 00:31:47,320 --> 00:31:50,480 Speaker 1: going to be a threat which is seen on US 600 00:31:50,600 --> 00:31:54,520 Speaker 1: military installations at home and overseas. It's going to be 601 00:31:54,560 --> 00:31:59,080 Speaker 1: something that requires National Guard deployment, um but it's also 602 00:31:59,120 --> 00:32:01,680 Speaker 1: going to be something that that might create instability in 603 00:32:01,760 --> 00:32:04,840 Speaker 1: regions like the Middle East and potentially in Asia that 604 00:32:05,200 --> 00:32:08,680 Speaker 1: the Pentagon worries China could take advantage of. So it's 605 00:32:08,840 --> 00:32:10,720 Speaker 1: you know, it's not just a kind of nice to have, 606 00:32:10,880 --> 00:32:13,200 Speaker 1: but from the perspective of the Pentagon, this is a 607 00:32:13,200 --> 00:32:17,000 Speaker 1: really crucial national security issue. Is it Peter, something that 608 00:32:17,000 --> 00:32:20,280 Speaker 1: the Pentagon will do through the next defense spending bill, 609 00:32:21,480 --> 00:32:24,840 Speaker 1: or how how is that funding going to be generated 610 00:32:24,880 --> 00:32:28,440 Speaker 1: here in Washington. I think they still need to figure 611 00:32:28,480 --> 00:32:30,520 Speaker 1: that out, but you know what's clear is that it's 612 00:32:30,520 --> 00:32:33,640 Speaker 1: going to be it's going to be a hefty price tag. 613 00:32:33,920 --> 00:32:37,560 Speaker 1: You know, we're talking about installing electric vehicle charging stations, 614 00:32:37,640 --> 00:32:41,800 Speaker 1: We're talking about making sure that military bases um are 615 00:32:41,840 --> 00:32:44,080 Speaker 1: equipped to handle rising sea level. This is you know, 616 00:32:44,120 --> 00:32:47,040 Speaker 1: this is gonna cost a lot of money. Peter Martin, 617 00:32:47,080 --> 00:32:50,360 Speaker 1: Bloomberg Defense Policy Reporter. Many thanks for chiming in. Let's 618 00:32:50,400 --> 00:32:53,000 Speaker 1: get you back in studio next time, and thanks for 619 00:32:53,040 --> 00:32:55,760 Speaker 1: your coverage today on that. Emily Wilkins, this is the 620 00:32:55,800 --> 00:32:58,760 Speaker 1: White House Press Secretary Jansaki talking about this today. He 621 00:32:58,840 --> 00:33:02,760 Speaker 1: has proposed the largest investment in addressing the climate crisis 622 00:33:02,800 --> 00:33:06,760 Speaker 1: in American history. So pay no attention to that, to 623 00:33:06,880 --> 00:33:10,520 Speaker 1: that utility plan. What what alternatives are there? And can 624 00:33:10,560 --> 00:33:14,040 Speaker 1: they actually make up the difference in terms of climate 625 00:33:14,280 --> 00:33:17,920 Speaker 1: change mitigation? That that's the big question here because if 626 00:33:17,960 --> 00:33:20,200 Speaker 1: they can't, there are some lawmakers who have indicated that 627 00:33:20,280 --> 00:33:23,160 Speaker 1: they will vote against the bill. And really, right now, 628 00:33:23,320 --> 00:33:26,240 Speaker 1: we don't have a very clear idea of what some 629 00:33:26,360 --> 00:33:29,640 Speaker 1: of the new proposals would actually mean. It could be 630 00:33:30,000 --> 00:33:33,880 Speaker 1: a different block grants that also promote emissions reduction, but 631 00:33:34,040 --> 00:33:37,760 Speaker 1: maybe don't penalize some of the power plants in Senator 632 00:33:37,840 --> 00:33:41,640 Speaker 1: Joe Mansion's home state of West Virginia. Could mean funding 633 00:33:41,640 --> 00:33:44,080 Speaker 1: current other programs in the bill that are to address 634 00:33:44,120 --> 00:33:47,400 Speaker 1: client A climate change and just putting more money into those. 635 00:33:47,840 --> 00:33:50,120 Speaker 1: Once again, this is why earlier in the show we 636 00:33:50,120 --> 00:33:53,360 Speaker 1: were talking about the likelihood of this package being done 637 00:33:53,760 --> 00:33:55,920 Speaker 1: by this weekend or even by next week. This is 638 00:33:55,960 --> 00:33:59,440 Speaker 1: why there's not a lot of optimism that that's actually 639 00:33:59,480 --> 00:34:02,360 Speaker 1: going to happen. I mean, sure, you'll you'll hear the speaker, 640 00:34:02,440 --> 00:34:06,000 Speaker 1: Nancy Pelosi and Joe biden't you know, be very optimistic, 641 00:34:06,240 --> 00:34:08,920 Speaker 1: very positive on this. But for those of us who 642 00:34:08,960 --> 00:34:11,839 Speaker 1: are really watching this process closely, we're realizing how much 643 00:34:11,880 --> 00:34:14,000 Speaker 1: they have left to do here. Well, it's fascinating. We 644 00:34:14,040 --> 00:34:16,279 Speaker 1: go from one week we're talking about the big the 645 00:34:16,320 --> 00:34:18,160 Speaker 1: big jam up is how we're going to pay for it. 646 00:34:18,239 --> 00:34:21,280 Speaker 1: Right then it becomes expansion of medicare. But now, I guess, 647 00:34:21,600 --> 00:34:23,560 Speaker 1: ironically is the only word I can find. As the 648 00:34:23,560 --> 00:34:26,880 Speaker 1: President prepares to go to the COP twenty summit in Scotland. 649 00:34:27,440 --> 00:34:29,799 Speaker 1: That's what just that's a week away, it's a week 650 00:34:29,880 --> 00:34:33,440 Speaker 1: from tomorrow or something that he's heading overseas. That this 651 00:34:33,560 --> 00:34:35,879 Speaker 1: is what's holding things up now, this is the one 652 00:34:35,920 --> 00:34:38,600 Speaker 1: thing he wants done before he goes to Scotland. Yes, 653 00:34:38,719 --> 00:34:41,000 Speaker 1: I mean, this is what President Biden wants to go 654 00:34:41,080 --> 00:34:43,959 Speaker 1: to Scotland, go in front of other countries and say, hey, 655 00:34:44,000 --> 00:34:46,640 Speaker 1: the US is back, we are back as a leader 656 00:34:46,719 --> 00:34:49,400 Speaker 1: in climate change. And it's hard to make that case 657 00:34:49,840 --> 00:34:52,920 Speaker 1: when you have to point to a domestic agenda where 658 00:34:53,040 --> 00:34:55,480 Speaker 1: things aren't getting done, things aren't being agreed to, your 659 00:34:55,600 --> 00:34:59,000 Speaker 1: entire plans being stymied by one senator from from West Virginia. 660 00:34:59,400 --> 00:35:01,680 Speaker 1: And so that is something that has come up this 661 00:35:01,719 --> 00:35:04,240 Speaker 1: week when I've been talking with lawmakers who have mentioned 662 00:35:04,280 --> 00:35:06,160 Speaker 1: again and again that they want to make sure that 663 00:35:06,200 --> 00:35:08,520 Speaker 1: Biden's going there with a really strong hand and a 664 00:35:08,600 --> 00:35:10,920 Speaker 1: strong argument to make. And I think this is one 665 00:35:10,920 --> 00:35:13,719 Speaker 1: of those things where if they don't, you can't necessarily 666 00:35:13,719 --> 00:35:16,000 Speaker 1: get a bill done, but they can get a framework 667 00:35:16,080 --> 00:35:19,440 Speaker 1: done that might lend Biden some of that credibility. And 668 00:35:19,480 --> 00:35:22,000 Speaker 1: also important to know, I mean there are a lot 669 00:35:22,040 --> 00:35:24,200 Speaker 1: of lawmakers who are going to be going to this 670 00:35:24,280 --> 00:35:27,839 Speaker 1: conference as well, both Democrats and Republicans. I was at 671 00:35:27,880 --> 00:35:31,520 Speaker 1: a Republican House Leader Kevin McCarthy's presser this week or 672 00:35:31,560 --> 00:35:34,080 Speaker 1: listening in, and he actually made a point of talking 673 00:35:34,120 --> 00:35:36,719 Speaker 1: about climate change and the importance of climate change. From 674 00:35:36,760 --> 00:35:39,640 Speaker 1: the Republican leader of the House, boy, we've I guess 675 00:35:39,680 --> 00:35:42,520 Speaker 1: we're beyond the science part of this and actually on 676 00:35:42,560 --> 00:35:45,640 Speaker 1: how to manage it. Is that fair to say? Yes? 677 00:35:45,719 --> 00:35:48,160 Speaker 1: I mean, even if you look at Republicans right now, yes, 678 00:35:48,360 --> 00:35:52,120 Speaker 1: there are some Republicans who still, you know, deny that 679 00:35:52,120 --> 00:35:55,160 Speaker 1: that climate change is brought about by humans. But you 680 00:35:55,160 --> 00:35:58,960 Speaker 1: actually saw a group of Republicans form their own sort 681 00:35:59,000 --> 00:36:02,080 Speaker 1: of Republican I'm at caucus and when I talked to 682 00:36:02,080 --> 00:36:04,120 Speaker 1: them about it, they said, you know, Republicans need to 683 00:36:04,120 --> 00:36:07,000 Speaker 1: have a seat at the table for some of these negotiations, 684 00:36:07,000 --> 00:36:09,000 Speaker 1: Like we have our own ideas about how to best 685 00:36:09,000 --> 00:36:11,640 Speaker 1: solve these problems. We can't ignore them, we can't pretend 686 00:36:11,680 --> 00:36:14,160 Speaker 1: they don't exist. But we also want to come at 687 00:36:14,200 --> 00:36:16,800 Speaker 1: them in a way that's pro business and it's helpful 688 00:36:16,840 --> 00:36:19,200 Speaker 1: for for companies that are also trying to figure out 689 00:36:19,239 --> 00:36:21,319 Speaker 1: what their path forward is all right, So back to 690 00:36:21,400 --> 00:36:24,200 Speaker 1: reality check time, Emily Wilkins. It's just you and me. Now, 691 00:36:24,840 --> 00:36:28,160 Speaker 1: let's pretend nobody's listening. What happens next week? Or we're 692 00:36:28,160 --> 00:36:31,320 Speaker 1: gonna see any votes Monday Tuesday like some we're talking 693 00:36:32,040 --> 00:36:36,200 Speaker 1: a big game about earlier today. Or is it more like, well, 694 00:36:36,239 --> 00:36:38,799 Speaker 1: we got a framework and we've heard that before by 695 00:36:38,840 --> 00:36:41,640 Speaker 1: the end of the week at this point, I mean, 696 00:36:41,840 --> 00:36:44,279 Speaker 1: you'll see votes next week. But the question is, of course, 697 00:36:44,320 --> 00:36:46,440 Speaker 1: will you see the vote on the infrastructure, will you 698 00:36:46,440 --> 00:36:49,080 Speaker 1: see the vote on the social spending plan? At this 699 00:36:49,080 --> 00:36:51,759 Speaker 1: could you see a vote on infrastructure without a real 700 00:36:51,920 --> 00:36:55,440 Speaker 1: bill on reconciliation. So I've been asking lawmakers about that 701 00:36:55,480 --> 00:36:59,200 Speaker 1: because at first progressive lawmakers were like, absolutely not gotta 702 00:36:59,239 --> 00:37:01,560 Speaker 1: pass the Senate, It's gotta pass the House. But the 703 00:37:01,560 --> 00:37:04,960 Speaker 1: head of the Progressive Congress, Congressman from Lagia Paul, actually 704 00:37:05,080 --> 00:37:07,000 Speaker 1: seemed to tell reporters this week that there might be 705 00:37:07,040 --> 00:37:09,160 Speaker 1: some leeway there. She's like, you know, if there is 706 00:37:09,880 --> 00:37:13,680 Speaker 1: a really solid framework, I don't know exactly how solid 707 00:37:13,719 --> 00:37:15,760 Speaker 1: it needs to be. But a key thing also seems 708 00:37:15,800 --> 00:37:17,560 Speaker 1: to be that President Biden signs off of it, that 709 00:37:17,640 --> 00:37:20,080 Speaker 1: President Biden says, I'm happy with all of this. And 710 00:37:20,120 --> 00:37:22,360 Speaker 1: I talked to even some some members, a member of 711 00:37:22,400 --> 00:37:26,520 Speaker 1: the squad, a very very progressive Congressman Jamal Bowman, and 712 00:37:26,520 --> 00:37:28,080 Speaker 1: he said, yeah, you know, if if we get a 713 00:37:28,080 --> 00:37:30,759 Speaker 1: framework that Biden can sign off on, I think that's 714 00:37:30,800 --> 00:37:33,920 Speaker 1: how they might be able to get a vote this week, 715 00:37:33,960 --> 00:37:36,880 Speaker 1: if they have something that that's far more detailed than 716 00:37:36,920 --> 00:37:39,600 Speaker 1: what we're seeing right now. Fascinating. So that's really Joe 717 00:37:39,640 --> 00:37:42,640 Speaker 1: Biden the mediator, right He's in the room saying, Okay, 718 00:37:42,680 --> 00:37:45,080 Speaker 1: I'm the one saying this is the real framework, and 719 00:37:45,280 --> 00:37:47,600 Speaker 1: and the Democrats are lining up behind him. They realize 720 00:37:47,640 --> 00:37:49,759 Speaker 1: that he's president, they realize he's one, and they see 721 00:37:49,800 --> 00:37:51,640 Speaker 1: it as a safe bet on how to move forward. 722 00:37:51,800 --> 00:37:55,440 Speaker 1: The straight scoop from Emily Wilkins, Bloomberg government Congress reporter 723 00:37:55,520 --> 00:37:57,840 Speaker 1: and of course a dear friend of this broadcast, just 724 00:37:57,920 --> 00:37:59,720 Speaker 1: spent some time in this year. I have a great weekend. 725 00:37:59,719 --> 00:38:02,880 Speaker 1: I hope you're not working. I'm Joe Matthew. This is Bloomberg. 726 00:38:05,000 --> 00:38:05,040 Speaker 1: M