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tv   Asia Business Report  BBC News  June 1, 2023 2:30am-2:45am BST

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i think that is a good point. and i think there is some credit here that they got more votes than republicans dead in the total, it looks like. just to bring in the numbers again, they need 200 members, they control the lower chamber of congress as we know they have 222 votes. then it will head to the senate, and there it takes 60 votes, and it would advance to president biden�*s desk. democrats control the senate with 51 votes. it looks like him as he had been saying, that the numbers line up there for that to pass safely as well with some amendments. imilli for that to pass safely as well with some amendments. with some amendments. _ with some amendments. with some amendments, with _ with some amendments. with some amendments, with some _ amendments, with some exceptions with both parties. butjust exceptions with both parties. but just a few, exceptions with both parties. butjust a few, i think.- but 'ust a few, i think. what will butjust a few, i think. what will that process _ butjust a few, i think. what will that process look - butjust a few, i think. what will that process look like i will that process look like when it gets to the senate? 50. when it gets to the senate? so, the senators — when it gets to the senate? so, the senators who _ when it gets to the senate? if, the senators who want when it gets to the senate? sr, the senators who want to when it gets to the senate? sf, the senators who want to do amendments, they will put that out. it will be in the system. and then, you know, ithink
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ultimately, chuck schumer decides how and which amendments will get a vote and debate and a vote, and i think he will be for us to go through that process because there have been demands, especially from republicans who winds amendments that they are amendments that they are amendment get a vote. and it's really about screen time, it's about getting a little bit of spotlights. it this is the issue that we care about. it's not really about whether those amendments will pass. but it's really about we are going to make a point of this issue, it is pegged into a very important to vote. everyone will be watching. everyone will be listening. so that some of the process. after all of that has wrapped, then you will move to the full senate for a vote. [30 the full senate for a vote. do ou the full senate for a vote. do you think _ the full senate for a vote. do you think anyone could hold up the vote in the senate? if you think anyone could hold up the vote in the senate?- the vote in the senate? if they wanted to. _ the vote in the senate? if they wanted to, yes. _ the vote in the senate? if they wanted to, yes. right - the vote in the senate? if they wanted to, yes. right now, . the vote in the senate? if they wanted to, yes. right now, it. wanted to, yes. right now, it doesn't sound like anyone is threatening to hold that vote
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passed the june five deadline. we have got a statement from the president that we are going to read to you now, this is a short time ago that the president released this statement and said tonight the house took a critical step forward ——... so, not exactly a victory lap, but, of course, the president they are saying, this is the critical first step.— they are saying, this is the critical first step. criticalfirst step. look, it's ast criticalfirst step. look, it's past the — criticalfirst step. look, it's past the house, _ criticalfirst step. look, it's past the house, i - criticalfirst step. look, it's past the house, i urge - criticalfirst step. look, it's past the house, i urge the| past the house, i urge the senate to pass this as well. relying on them very much to do so beforejune five. remind us, that date itself has moved. the treasury secretary originally said it'sjune one, then it's june five. at that sense of urgency has been there all along. urgency has been there all alonu. , ., ., urgency has been there all alonu. , ~ ., , along. yes. i think that is true. along. yes. i think that is
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true- we _ along. yes. i think that is true. we saw— along. yes. i think that is true. we saw the - along. yes. i think that is true. we saw the house i along. yes. i think that is - true. we saw the house right now has just read the final... and... now has 'ust read the final... and... , , ., and... yep, we 'ust hear those final numbers _ and... yep, we just hear those final numbers have _ and... yep, we just hear those final numbers have been - and... yep, we just hear those final numbers have been read. | final numbers have been read. let's listen and stop it a house of representatives, i write to inform you that the i am resigning my position at the member of the united states congress representing the first congressional _ congress representing the first congressional district - congress representing the first congressional district of - congress representing the first j congressional district of rhode island — congressional district of rhode island effective at the close of the — island effective at the close of the legislative day of may 31, 2023. it has of the legislative day of may 31,2023. it has been the honour_ 31,2023. it has been the honour of my lifetime to represent the first congressional district of rhode island — congressional district of rhode island in— congressional district of rhode island in the united states house _ island in the united states house of representatives. i am eternally— house of representatives. i am eternally grateful for their trust _ eternally grateful for their trust and faith that the people of the — trust and faith that the people of the first district placed in me to — of the first district placed in me to serve as a member of congress _ me to serve as a member of congress for the past 12 years. in close. — congress for the past 12 years. in close, find a copy of the letter _ in close, find a copy of the letter i _ in close, find a copy of the letter i have submitted to the rhode island governor, danielj mckee, — rhode island governor, danielj mckee, signed sincerely david cettini, — mckee, signed sincerely david cellini, member of congress. proceed _ cellini, member of congress.
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proceed to section three 2 of the house _ proceed to section three 2 of the house resolution- proceed to section three 2 of the house resolution five, i proceed to section three 2 ofl the house resolution five, the house — the house resolution five, the house stands _ the house resolution five, the house stands in _ the house resolution five, the house stands in adjournmentl house stands in adjournment untit— house stands in adjournment until ttamm _ house stands in ad'ournment until 11am. . _ until 11am. .. that was a preannounced - until 11am. .. that was a preannounced notice i until 11am. .. that was a i preannounced notice from until 11am. .. that was a - preannounced notice from david, the representative that was just read out there on the house floor. the governor from rhode island. that wasjust read out on the floor there. sophia, we havejust watched the vote to take place, so it's now completed. he saw statement from the president, it does move on to the next phase. we are talking about a debt ceiling limit that has become very politcised in recent years. we heard from our correspondent who said that he is to be standard practice that the debt ceiling would be raised, but it has become a real battle between democrats and republicans. how has it become so politcised? republicans know that they only have one chamber of congress. democrats control the presidency, democrats also control the senate. they note that this is something that must pass. and that is the thing that they are going to
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hold hostage in some ways. in order to get biden to negotiate on spending cuts, in order to get democrats to agree to some of the items they want because, you know, there really isn't otherwise legislation that must pass legislation that will move through both chambers. that's why you sigh republicans, aside from that debt limit do a lot of congressional oversight, investigations, that is the other way that they are sort of able to make a statement, because things can pass the house if it is, you know, a republican wish list. but it will not pass the senate. so thatis will not pass the senate. so that is why, you know, democrats and republicans have turned to one of the few must pass bills. turned to one of the few must pass bills-— pass bills. let's talk a little more about _ pass bills. let's talk a little more about what _ pass bills. let's talk a little more about what is - pass bills. let's talk a little more about what is exactly| pass bills. let's talk a little l more about what is exactly in this agreement as we look ahead to what we are going to see in the senate. we also saw that unspent covid funds would be returned, something that the biden administration agreed to fairly early on in negotiations, and then there is
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this ten year freeze on spending except for defence. so how significant was that for republicans to gain in these negotiations? i republicans to gain in these negotiations?— negotiations? i think republicans - negotiations? ithink republicans have i negotiations? i think i republicans have always negotiations? i think - republicans have always been negotiations? i think _ republicans have always been a party that has supported defence spending increases. it is significant is here because the us has spent a lot of money and send over equipment and, military equipment to ukraine to support the effort there supporting president zelensky of ukraine. so cimino, there is an argument to be made that especially this year and the next couple of years that us defence spending needs to increase. democrats, they acknowledge that there is a need. i acknowledge that there is a need. . need. i will cut in there because _ need. i will cut in there because it _ need. i will cut in there because it looks - need. i will cut in there because it looks like i need. i will cut in there | because it looks like the speaker of the house is about to start a press conference. let's listen to what he has to say about this boat passing.
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no, no, that's fine. have you -ot no, no, that's fine. have you got your— no, no, that's fine. have you got your folder? first of all, thank— got your folder? first of all, thank you _ got your folder? first of all, thank you all for it being here _ thank you all for it being here. before i began, ijust want— here. before i began, ijust want to— here. before i began, ijust want to start by saying how grateful _ want to start by saying how grateful i am to garrett graves and patrick mchenry. they have given _ and patrick mchenry. they have given a — and patrick mchenry. they have given a time and talents and efforts— given a time and talents and efforts for more than a month. we would not be here without them — we would not be here without them will stop our entire conference and country owes them — conference and country owes them a — conference and country owes them a great deal of debt for what — them a great deal of debt for what they have put themselves through — what they have put themselves through. i want to think our conference. you know, on february— conference. you know, on february one, i got my first meeting _ february one, i got my first meeting with the president. i have — meeting with the president. i have been thinking about this day before my vote for speaker, because — day before my vote for speaker, because i— day before my vote for speaker, because i knew the debt ceiling was coming. i wanted to make history — was coming. i wanted to make history i—
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was coming. i wanted to make history. i wanted to do something no other congress has done, _ something no other congress has done, that— something no other congress has done, that we would literally turn — done, that we would literally turn the _ done, that we would literally turn the ship, and for the first— turn the ship, and for the first time _ turn the ship, and for the first time in quite some time, we would spend less and we spent — we would spend less and we spent the year before. tonight, we all need history, because this— we all need history, because this is— we all need history, because this is the _ we all need history, because this is the biggest cut in savings _ this is the biggest cut in savings this congress has ever voted — savings this congress has ever voted for~ _ savings this congress has ever voted for. it is not that we are — voted for. it is not that we are just _ voted for. it is not that we are just voting for it, this is going — are just voting for it, this is going to be law. $2.1 trillion. you _ going to be law. $2.1 trillion. you have — going to be law. $2.1 trillion. you have all covered this entire _ you have all covered this entire battle. you are there in february— entire battle. you are there in february one when i walked out after talking to the president. that— after talking to the president. that was— after talking to the president. that was kind of hopeful because he told me in that meeting that we would meet agaih — meeting that we would meet again. he sat next to me at the prayer— again. he sat next to me at the prayer breakfast the next morning. he told the entire crowd — morning. he told the entire crowd that we would meet again. but for— crowd that we would meet again. but for 97— crowd that we would meet again. but for 97 days, he said no. people _ but for 97 days, he said no. people look at me and say why
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are you — people look at me and say why are you always an optimist? because _ are you always an optimist? because i_ are you always an optimist? because i know as an american, tomorrow— because i know as an american, tomorrow will be better than todav — tomorrow will be better than todav i_ tomorrow will be better than today. i had to be an optimist, that— today. i had to be an optimist, that every day i woke up and said — that every day i woke up and said maybe today the change his mind _ said maybe today the change his mind. maybe today he would want to put _ mind. maybe today he would want to put the — mind. maybe today he would want to put the country first. maybe today— to put the country first. maybe today he — to put the country first. maybe today he would want to meet. but he — today he would want to meet. but he never did. not until our entire — but he never did. not until our entire conference past the hilt — entire conference past the hilt the _ entire conference past the bill. the senate never did. they— bill. the senate never did. they took no action. the democrats plan was a discharge position— democrats plan was a discharge position to only raise the debt ceiling — position to only raise the debt ceiling and have no savings. it would — ceiling and have no savings. it would take us further off the cliff — would take us further off the cliff but _ would take us further off the cliff. but when i finally got to meet _ cliff. but when i finally got to meet with the president, we couldn't— to meet with the president, we couldn't talk about the entire budget _ couldn't talk about the entire budget. he couldn't talk about it and — budget. he couldn't talk about it and look at places that we could — it and look at places that we could have savings. we could only— could have savings. we could only focus on 11% of the budget. but in that 11%, not only— budget. but in that 11%, not only did we give you the
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greatest savings of american history. _ greatest savings of american history, those people on welfare _ history, those people on welfare today that will no longer be on welfare, that they will find — longer be on welfare, that they will find a — longer be on welfare, that they will find a job because of the work— will find a job because of the work environment, and notjust when they— work environment, and notjust when they find that job, their self—worth, their attitudes are going — self—worth, their attitudes are going to — self—worth, their attitudes are going to change postop people will believe in themselves. they— will believe in themselves. they are _ will believe in themselves. they are going to be able to buy a — they are going to be able to buy a house and send their kids to college — buy a house and send their kids to college because of the boat we took — to college because of the boat we took tonight. because of the vote we — we took tonight. because of the vote we took tonight, the largest— vote we took tonight, the largest rescissions in american historv — largest rescissions in american history. all the covid money, the billions of dollars sitting out there that they said that they— out there that they said that they would never bring back, you know _ they would never bring back, you know what's coming to the taxpayer, _ you know what's coming to the taxpayer, to your hard—working americans, we stood up for you. we brought that money back. for those _ we brought that money back. for those who — we brought that money back. for those who are afraid that they
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are going to get audited
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because the president
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great to be with you, a huge relief to the american economy and the economy around the world. �* , ., ., ., , ., world. i'm proud to have been a art of world. i'm proud to have been a part of something _ world. i'm proud to have been a part of something to _ world. i'm proud to have been a part of something to ensure i world. i'm proud to have been a part of something to ensure we | part of something to ensure we didn't default on this manufactured crisis by our republican colleagues. the good news is our government will continue with the full faith and credit of the usa. what made you — and credit of the usa. what made you decide _ and credit of the usa. what made you decide to - and credit of the usa. what made you decide to support this agreement? i made you decide to support this agreement?— made you decide to support this agreement? i am the chair was a u-rou agreement? i am the chair was a group that's _ agreement? i am the chair was a group that's called _ agreement? i am the chair was a group that's called a _ agreement? i am the chair was a group that's called a new - group that's called a new democrat coalition, and we are
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all about the economy, jobs and opportunity. we are very compassionate, and at the end of the day, i believe the agreement negotiated by president biden and by his advisers is the best deal possible for us. look, i don't think we should have been in this position. i don't think the republicans should hold our economy hostage. but once we were here, we needed to negotiate, first of all a clean debt ceiling, and second of all, and the —— an agreement going forward on future spending. and i'm confident we got the very best deal for our constituents.— constituents. confidence that this was not _ constituents. confidence that this was not the _ constituents. confidence that this was not the best - constituents. confidence that this was not the best deal i constituents. confidence that | this was not the best deal they could have gotten, and some talked about the caps on federal spending... your colleague in the senate bernie sanders said he is going to
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vote no, and he said,

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