always in the same message, jack fitzpatrick.nt a good part of the weekend looking into some of the mathematics of the great surprise, and that is the latino vote which has shifted democrat to republican. i know the geography well, and that is east of colorado springs. it is thunderous how the republicans have taken the latino vote in selective geographies. how does that change washington in november? >> it definitely plays into the expectations. in november, it helps republicans in the midterms. also in the big picture, aside from taking some interesting reasons here and there, it makes republicans feel a lot better about the presidential -- their chances in the next presidential race. florida, especially. if you are talking about a major swing state that has not been very swingy lately, looking at florida, the cuban-americans were particularly conservative, the people who have been really open to republican arguments about democrats leaning socialist, as republicans would call it. it probably isn't even bi gger factor looking t

jack fitzpatrick joins us now. we moved away from the news this thursday morning.e go to richard rubin in the " wall street journal" and his wonderful, legendary tax work in the world of corporate taxes, filtering down to mere moral people. is that the intention of the senator from arizona, who is so important in this debate? >> that has gotten some attention and republicans think it will raise cost for consumers, not just companies. that is becoming a more significant talking point. one thing for the senator, she never signed off on the carried interest measure. if that had to come out, it would not necessarily break down revenue per she has raised concerns about who exactly the 15% minimum tax rate would apply to. there are some changes that might be able to be made. this will be on deducting investments for depreciating assets. i don't know necessarily that the joint committee on taxation's scores are raising costs for everybody else is the primary focus for her, but i do know that it is something republicans are playing up and you will hear about on the campaig

to 98, 97 in terms of recalibrating, we are going to recalibrate with our bloomberg reporter, jack fitzpatrickwhat they talk about is the candidate quality. a civics question of friday morning in the summer -- who picks the candidates? jack: that depends. in this case, one of the challenges you are alluding to is at least indirectly, former president trump, if he doesn't pick candidates, has a huge hand in republican primary victors and as it pertains to the senate outlook, look to pennsylvania, where the cook political report nudged that from a tossup to a lien democratic race, and it does look like mamet oz is having a edge. in the republican primaries come it can have a warping of fact as to who is the most electable person who might be in the general election. tom: the senate might be in axis of trump and mcconnell. is there in mcconnell part of house republicans or does president trump own the house? jack: the house and -- has been more trumpified then the senate. that is a big question that maybe the midterms will help answer. if you look at the impact that trump has had on the party in

jack fitzpatrick of bloomberg government, down in washington.is never easy to get a bill together and get everyone on board. lisa: especially now, when you have that much splintering within each party, let alone the dual parties very how much do you get people coalescing around a deal that really came together shockingly quickly and shockingly quietly, if you think about it. this is a strict bill back better rebranding of 2022. they are trying to push it through. jonathon: does actually reduce inflation? that is something we can talk about another time. no room for error at all in that tenet for these democrats. tom: that's true. it goes back to the heart of the matter, which is the victory we saw in 2020. it has been a struggle the entire way and still continues to be a struggle domestically. as we are talking -- as we were talking with jack about, i'm fascinated with the cohesive message to china into q4. jonathon: that's the number one debate, covid zero. lisa, do you have a complete picture of the market next year without understanding wheth

tom: thank you, jack fitzpatrick. why fitzpatrick is so good, fomc and trading, he has it all -- the rest. i take issue with the idea that if we go back after which guys a net when ownership, they're not going to serve. we independent bureaucracy may be like italians and draghi. that is the risk. but trading in and out of financial assets while you are in the game, i don't get it. lisa: if nothing else it creates the image of impropriety at a time when a lot of people have lost a sense of credibility in the government. i think that is the issue. how do you restore trust in institutions that are tasked with trying to make things better? tom: washington economics led by chris torres, i will get that on twitter as well. michael purves in the 8:00 hour on stock optimism. stay with us. this is bloomberg. tom: in one hour, claims. an extrapolation out, 300,000 claims arise in the middle of september based on a recent trend. michael mckee will act philosophical. he is alert -- looking at the larger claims statistic. futures

jonathan: thank you, jack fitzpatrick.he biggest issue is how do you balance the domestic economic tension with foreign policy issues? i think that captures it perfectly well. lisa: we saw it when there freeport lng export facility in texas went down because of disruption. and that is 1/5 of the exports to europe. we saw that actually lower natural gas prices in the u.s., so people started saying let's do this? other people, biden in particular, said absolutely not, we need to support our allies how much tension does this create between the energy secretary and him? jonathan: do you think they will listen to secretary granholm? lisa: no. i am not sure she has bipartisan support, even partisan support? but it goes into the uncertainty. jonathan: equities down.9 of 1% on the s&p. if you want to cash, you will be happy you want to cash. field higher on the 10 year and the two-year on a nominal basis. lisa put out a great chart this morning. tom: real yields are there and breaking higher, but by the time you get to the real yi

jack fitzpatrick joins us from washington right now.ning at the white house in terms of the politics of september? >> the politics of september, big picture, the white house is trying to accomplish everything it can, especially looking at student loan forgiveness measures to deliver probably more democrats, their supporters, who may wane or wax in enthusiasm heading into the midterms. probably more democrats even then persuadable voters, to try to get supporters to turn out in november. also understanding that they may not have many opportunities in the future congresses. tom: in pennsylvania, are you telling me student loan bates matter over choice there? >> that's what i'm getting at. i don't know the choice between federman and oz is going to come down to someone's views on student loan forgiveness. i think the focus on this kind of thing is doing what they campaigned on. giving democrats something to be enthusiastic about. and something like federman versus oz in pennsylvania, it is a truism to say it all comes down to turn out. it