kristen sinema's support for this legislation is essential. but the senate still has to pass this. so what's the state of play, what can go wrong? carl: yeah. there's some hurdles yet to come including a storied vote-a-rama where theepublicans will offer amendment after amendment to try and catch them, the democrats, in a politically difficult spot. and try tohange the bill. but the democrats are on track to pass this. sometime sunday, monday, depending on how things play out, i was talking to senators in the hall ware with you the other day, the democrats are really feeling it, you know, they're -- one said ecstatic that they think they can get th through. this was dead. just a few weeks ago. and now they're on the verge of walking out of town for august wi this big win after some other wins. and this is -- it isn't the same size of course as the original one. but there's summings in here the democrats have fought for for years on drug pricing. and even that bill by itself would have been a major accomplishment. the democrats think they finally got the best of mitch america connel

now with the support of senator kristen sinema. the votes are there, they pass this legislation inflation reduction act. tackling obviously our record inflation, but also taxes, climate change, health care. of course before they can get the passage the chamber has to go through a so-called vote aroma, where senator publicans can introduce all the amendments they want until they run out. and nbc's reporting that some senate democrats have signaled their plans to vote against all the amendments republicans demand. what can you tell us about where things are? . >> you good afternoon, raf. good to be with. you it is my hope an expectation that senate democrats will successfully be able to move the inflation reduction act and send it over to the house of representatives at some point over the next few days. and we will be back in session by the end of the week to pass the bill and get it to president biden's desk. and as you indicated, president biden, democrats in the house in the senate, or in the zone right now in delivering for the

. >> the only issues in the kristen sinema side. we'll make sure to have some counter support. julia, thank. you let's go -- to where the president departed earlier this morning. the white house is announcing today that biden has tested negative for a second day. tested negative for covid. this allowed him to safely return to travel and public engagement. tell us what the president's thinking here can you get a sense of how he is feeling? >> cora, we saw the president leaving the white house as this morning to go to delaware. you can see it on his face a big smile. as he walked, he briefly answered a few questions from reporters, saying that he is feeling really good. and you can see in the video here he is taking his mask off, walking out to leave for rehoboth beach, delaware, where he can be reunited with his wife, the first lady, after more than two weeks apart, because he had an initial covid positivity, and then the rebound case for the last week. when he was so consistently testing positive. when he left the white house this, morning reporters asked how he was feeling abo

keys to the democratic kingdom, but after this surprise deal was announced, all eyes turned to kristen sinemaable to get sent -- several changes into the bill. i want to bring in dan noah, he's the national politics editor for the arizona republic. dan, thank you for joining us on this. >> thanks for invitingly. >> all eyes were on your senator, these past couple of days. will she, or was she? i think one of the most outstanding questions i have first and foremost is her opposition to the tax loophole. closing the tax loophole when it came to hedge funds, for instance, and the go-rounds that they have, and how they're essentially paying less taxes than many americans are at the end of the day. why is she so opposed to closing this loophole? >> i don't know exactly why, but i know she's been on the record on that issue for a long time and i think everyone involved with this bill knew it which kind of makes you wonder if there's ever seriously thought that it would stay in. given that, so much on the record, there was so much opposition to it already. obviously, she's not the only senator who w

. >> sandra: to capitol hill where all eyes are on kristen sinema while she stays quiet on the fate ofing out after making that deal with chuck schumer and responding to direct charges from the home depot co-founder ken langone. >> i'm worried he's going to be tricked. the revenues won't be there and the expenses won't be there. that will be inflationary. by its very definition, inflationary. who are they doing? they're putting gas on the fire. >> it has consequences if either one of us don't keep our bargain. so from chuck schumer to nancy pelosi to the president of the united states, we have an agreement that we're going to do reform. if it doesn't happen, i said again, on either side, i'll keep my word and my garbage if they don't keep theirs. there's consequences. >> sandra: let's ask doug deacon, now president of american action forum. great to see you. i suppose this is a economic and political question. so put your political and economic hat on. you believe it's possible that joe manchin was tricked? >> i don't think he was tricked. i think he has made a good faith effort to neg

of a spending bill vote about to go down while democrats are scrambling to get arizona senator kristen sinema the line. taiwan scrambling jets after 27 chinese war planes entered the defense zone today. china plans to surround the island for live fire exercises set to be gavin newsome within hours. as nancy pelosi wraps up her visit to taiwan. welcom

you're waiting to see whether the other tough to convince democrats, kristen sinema, is gonna land onings she's questioning. according to his vice, he wants to get rid of the provision bill that closes the loophole which is a loophole that benefits certain wealthy americans, specifically investment managers. have you conveyed a message to senator sinema? do you know where she stands right now? what are your thoughts on this but? >> look, i'm not gonna talk about private conversations. you knew i wouldn't. >> i had to ask. >> but, exactly, but let me just make clear what we're talking about here. we're talking about a special tax break for rich people. we're talking about how folks who live in a little tiny very high tax bracket are able to pay taxes on their incomes at a lower rate than, you know, the guy who runs the local restaurant, the guy who's the local computer programmer. americans understand that's just not right. what i really love about the direction we're going in with this bill, which i hope will get through in the next day or two, is that it really is a ground breaker in

and today, reporting on what kristen sinema wants. we'll have congresswoman katie porter answer the future of the inflation fighting bill. and later, one of our upcoming guest says that he had seen a lot of law in order. but never a twist as good as what happened today in the trial of alex jones! the 11th hour, just getting underway on a wednesday night! dnesday night! can slow me down. now, skyrizi helps me get going by treating my skin and joints. along with significantly clearer skin, skyrizi helps me move with less joint pain, stiffness, swelling, and fatigue. and skyrizi is just 4 doses a year after two starter doses. skyrizi attaches to and reduces a source of excess inflammation that can lead to skin and joint symptoms. with skyrizi, 90% clearer skin and less joint pain is possible. serious allergic reactions and an increased risk of infections or a lower ability to fight them may occur. tell your doctor if you have an infection or symptoms, had a vaccine, or plan to. with skyrizi, there's nothing like the feeling of improving

and today, reporting on what kristen sinema wants. we'll have congresswoman katie porter answer the future of the inflation fighting bill. and later, one of our upcoming guest says that he had seen a lot of law in order. but never a twist as good as what happened today in the trial of alex jones! the 11th hour, just getting underway on a wednesday night! i can't. ah, my toes! turns out, it is hard walking a mile in someone else's shoes. and it turns out the general is a quality insurance company that's been saving people money for nearly 60 years. i gotta go, ah. for a great low rate, and nearly 60 years of quality coverage, go with the general. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without find

of a spending bill vote about to go down while democrats are scrambling to get arizona senator kristen sinema to vote for it. john cornyn is coming up. first, crossing the line. taiwan scrambling jets after 27 chinese war planes entered the defense zone today. china plans to surround the island for live fire exercises set to be gavin newsome within hours. as nancy pelosi wraps up her visit to taiwan. welcome. i'm charles payne in for neil cavuto. this is "your world" to peter doocy on how the white house is dealing with this. peter? >> communist china still wants taiwan to be part of communist china. that means speaker pelosi's words on the ground have upset them. >> in terms of governance, we command taiwan for being one of the freest societies in the world. >> well, the chinese official is writing the u.s. must pay the price for its own mistake and we mean what we say. that has g-7 leaders now saying we're concerned by recent and announced threatening actions by the prc, particularly live fire exercises and economic coercion, which risks unnecessary escalation. even though speaker pelosi's

and they use their campaign contributions there's a stack of checks going to joe manchin and kristen sinema and every one of these lawmakers as we speak because corporations want to be at the table to write this new law the way they want it written so it can get water down over the course of the next few months or it can stay exactly as you said in his section about which will correct this problem starbucks pretending they make all their coffee in ireland. the thing that makes me the craziest about this is that one of the explanations that corporations use and you'll see that about 200 st corporations came out against the entire biden tax plan irif as you write yesterday orthe day before. what they say is if you raise their taxes , your taxing job creators. they are the job creators. are these people job creators? >> that's the most ridiculous idea. no, they're not job creators. >> they employed thousands of people, isn't he a job s creator? >> if you were a restaurant in starbucks the people that create your jobs are the people paying six dollars for those cups of latte coffee. not the peo

part of what it took for democrats to get here to this point is to get senator kristen sinema on boardaking out attacks position that would have closed the loophole which would've -- that loophole allows the wealthiest americans pay less in taxes. does this work against the messaging that the rich should pay its fair share. >> certainly there's going to be controversy around this. not everyone's going to be support this. it's not going to affect the support the legislation is the bottom line. this is how legislative sausage making works. is a term in basketball, survive and advance. that's what you're seeing play out in realtime. when it comes to pass the inflation reduction act. but i personally love seeing right now, on the floor, is that, yeah, you've got some members who maybe didn't get everything they wanted, but they understand the magnitude of this moment. they understand that we cannot let perfect be the enemy of the good. they also understand that kyrsten sinema is a key vote. we cannot get this passed without her. making a few concessions here in there, again, not ideal, but

i want to ask you about arizona senator, kristen sinema. she did come to an agreement with senate democrats this week on this pretty robust and massive package on climate and health care and tax increases, but she did so by demanding the removal of the so-called closing of the carry interest loophole, from the reconciliation package. i understand the governor and secretary are different positions. but you do serve the same constituents, do you support the removal of the carry interest loophole? >> look, what i can say is that i spent eight years in the legislator. i know that legislation is a game of compromise, and i am someone who has a charge record of getting legislation passed in a republican nominated like slater. it is all about compromise. this legislation are all over all esper important to address rising prices, to address the critical issues we are facing with common change. it is important legislation, historic legislation, and i am glad to see it get over the finish line. >> did not quite here and answer their, do you support c

we're hearing some drama over that involving arizona senator, kristen sinema also john thune as well. talk me through that. >> what is happening is senator john thune, he's a leadership on the republican side, he is expected to bring up this amendment that would tweak the corporate tax provision. this is an issue because senator manchin, of course, one of all of these things in the bill. he wanted it to remain as, is even without the carried interest loophole being taken out. son of arson and already had her way on some of these things. what's senator sun's amendment would do is it would remove some smaller businesses in private equity land from being taxed under this corporate minimum tax. essentially, what senator sinema is now saying after hearing from the arizona chamber of commerce who she knows -- this might hurt some of those businesses. we expect her to vote for senator thune's amendment. the problem here is that the pay for it that he will use in place of this provision under the 15 minimum -- percent corporate minimum tax is the state and local tax cap, which northeast senat

but, we should have had kristen sinema and joe manchin say, we should at least be making an exceptionto the filibuster for purposes of saving our democracy and protecting the fundamental right to vote. we did not have them on board. it is why i'm excited about candidates like john fetterman and mandela barnes, in pennsylvania and wisconsin respectively, tim ryan and ohio, sherry bisbee and -- my great colleague in the judiciary committee running against marco rubio. the last poll i saw said it is tied up. we have a real chance of not just keep our majority in senate but to grow up majority. the bigger hurdle will be keeping the house, and we have to make sure we do that through messaging effectively and continuing to deliver for the american people. >> congressman, before we go, i wanted to ask you a question about new york. you represent new york, which has become one of the epicenters of the monkeypox outbreak. the biden administration criticize for the slow response. how do you think the administration is handling the public health issue? >> i think they are doing better than they

inflation reduction act after a republican amendment in the vote-a-rama past with democrats like kristen sinema, voting in favor of it. this is making the legislative marathon even longer as republicans continue to try to make this process as painful as possible. democrats are painting the eventual expected passage of the bill as a major victory, hailing what is in it for the american people. >> vote after vote after vote we have done this with no sleep 11 hours straight. why? because we know this bill is finally going to do something about climate change. lift the ban on negotiating less expensive drugs under medicare. and then as the name of the bill says, bring inflation down by 305 billion dollars a deficit reduction. >> oil need 50 votes. we don't need 60 we don't need any republican votes to do something significant for working families in this country. unfortunately, for fairly well known reasons we have conservative democrats. we couldn't get the 50 votes that we need really, to impact the needs of working families. >> let's go to the senate floor now where i believe we also have vice p

what's your sense of where we are with this bill and have you had a chance to speak with kristen sinemabout her concerns? i've talked to her about other issues this week, including the electoral count act, game urge, she is supportive. she puts that into law. and i know she is negotiating with senator schumer. she is somebody that believes in doing something about climate change, and in arizona they have had issues with fires, heat, as you know. we will get this done. but let's talk about what this bill will be, and is. this bill is the game-changer. 300 billion dollars in deficit reduction, and all of the economists that have looked at it have said that is why it is called the inflation reduction act. number two, taking on pharmaceuticals. the first time that i have been leading this effort for years, and finally we are telling the pharma companies, no, you wrote into law this ban on negotiating for less expensive drugs under medicare. that is going away, we are lifting. it investment and climate change, to the point where we are going to see a 40% reduction by the year 2030. we are bu

all 50 democratic senators on board, including the critical support of arizona senator kristen sinema, who oked the bill after negotiating to drop a 14 billion dollar tax front increase on hedge fund managers and private -- the next step is overcoming republican roadblocks. here is democratic senator brian schatz urging members of his own party to keep their eyes on the price. >> this really is a delicately negotiated compromise. there are lots of things i would put in, even a few things i would remove, if i brought it myself. but to get to 50, we had to get this finally calibrated. i think the other things to point out, look, the voter -- we have a bill, and they have one objective, and one objective only. which is to kill it and kill it with amendments. therefore, i will propose all the amendments. >> republican senators were not on board with the bill. in fact, minority leader mitch mcconnell called the bill reckless spending. as you're about to see, senator schumer did not let that talking point fly. >> democrats want to run through hundreds of billions of dollars in contracts and

let's get to unpacking joe manchin, kristen, you have news this morning fromother senator who is the star, kyrsten sinemayes on kyrsten sinema. she and her team said they would review the bill over the weekend. i've been talking to a source close to the senator, though who points to the fact that this new reconciliation bill includes the carry interest provision, that she has long said that she opposes. now, manchin's team says tough, they're not taking it out, but this could be where battle lines get drawn. the question is, though, chuck, there is too much pressure on sinema, does she need to find a way to support this, does she find compromise in some other area like prescription drugs? that's where you have some democrats saying, look, they might be able to move a little bit and give her a win. she wasn't a part of the final rounds of discussions, and that could create a last minute snag here. >> jonathan what do you think? >> it is an extraordinary thing if she were to be the lone vote that sinks a package that has so many democratic priorities and they have been trying so long and so hard to get don

sinema agreed to the deal. nbc's ali vitali is on capitol hill. >> reporter: peter and kristen, good morning. we are hours away now from the starting bell of democrats trying to pass the reconciliation package. it is a big one and lengthy process as they pass the deficit reduction deal. democrats marching in lock step. >> we are feeling good. >> reporter: set to kickoff a rare saturday afternoon. a package of deficit reduction and $350 billion in energy and climate provisions and new tax reforms that force the wlthy and corporations to pay more. moderate democrats joe manchin and krysten sinema. manchin negotiating with chuck schumer. sinema holding out until the carried interest loophole and $4 billion for drought relief. sinema announcing subject to the review, i'll move forward. now with sinema on board, it is full steam ahead. not the road to passage is without speed bumps? >> it will be like hell. they deserve this. >> reporter: republicans vowing to make it as political painful as possible. democrats bracing for that. >> they will do lots of amendments. i believe we will have 50 votes t