schumer: good morning, everybody. [laughter] [indiscernible] [laughter] why don't you get a different color for each day? ok. well, it has been a momentous 24 hours here in congress. a legislative 1-2 punch that the american people rarely see. a little while ago the house voted to approve the largest investment to lowering costs, increasing manufacturing, investing in science and helping fix our semiconductor crisis. the chips and science bill, after three long years, now goes to the president's desk. last night, senator manchin and i announced an agreement on a reconciliation package, the inflation reduction act that will finally deliver on some of the biggest challenges facing the american people -- lowering costs, fighting inflation, fighting climate change, and making health care more affordable in this country. again, the past 24 hours have been a legislative 1-2 punch that americans rarely see and will benefit them immensely. a bill to supercharge american industry and a bill to fight inflation and mark day turn

schumer: i move to proceed to legislative session. the presiding officer: the question is on the motion. all those in favor say aye. all those opposed nay. the ayes have it. the motion is agreed to. mr. schumer: i move to proceed to executive session to conside. the presiding officer: the question is on the motion. all those in favor say aye. all opposed sayall opposed nay. all in favor aye. all opposed nay. the ayes appear to have it. the ayes do have it. the motion is is agreed to. the clerk will report the nomination. the clerk: nomination, the judiciary, elizabeth wilson hanes of virginia to be united states district judge of the united states of virginia. mr. schumer: i send apcloture motion to the desk. the presiding officer: the clerk will report. the clerk: , cloture motion, we, the undersigned senators, rule 22 of the standing rules of the senate do hereby move to bring bring to a close the nomination on calendar 1068 signed by 16 senators fools. the presiding officer: without objection. mr. schumer: i ask the reading be waiv

schumer, moves to concur in the house amendment to s. 3373. the presiding officer: without objection. mr. schumer: i move to done cur in the house amendment to s. 3373 with an amendment. the presiding officer: the clerk will report the motion with an amendment. the clerk: mr. schumer moves to concur in the house amendment to s. 3373 with an amendment numbered 5148. mr. schumer: i ask consent further reading of the amendment be dispensed with. the presiding officer: without objection. mr. schumer: i ask for the yeas and nays. the presiding officer: is there a sufficient second? there appears to be. the yeas and nays are ordered. mr. schumer: i have an amendment at the desk. the presiding officer: the clerk will report. the clerk: the senator from new york, mr. schumer, proposes an amendment numbered 5149 to amendment numbered 5148. mr. schumer: i ask consent further reading of the amendment be dispensed with. the presiding officer: without objection. mr. schumer: i move to refer s. 3373 to the committee on veterans' affairs with instructions to

the following year, in 2010, senator manchin agreed with senator schumer and president obama. y he said i do not think during a time of recession you mess with any of the taxes or increase in taxes. that is the old joe. that is the same senator who is now proposing to raise taxes on families in the middle of a recession. now, here's the real joke but i guess the joke is on all of us. they are calling at the inflation reduction act. what an insult to the inintelligence of the american people. do they think anybody will be fooled? do they think the american people are so stupid that they would believe this is an honest attempt to address inflation? there is not a chance. this proposal is a wolf in sheep'see clothing. our democratic colleagues can try to rebrand the build back bill they tried to pass earlier this year all they y want. but it is filled with the same rotten policies that will hurt families, small businesses, and energy producers. while the president by the way it goes to saudi arabia hat in hand asking the leader of the kingdom of saudi arabia to produce more oil o

chuck schumer never said -- the chips act, that we were not going to do reconciliation.e manchin said consistently all along, he had not stopped negotiating. he said i am down to a group of reporters on a thursday or friday. that does not mean who's done talking them now, that means he had enough. and he said next monday, no, i am still negotiating working on the stuff. i will talk to chuck, and let's take this thing forward. if joe manchin and chuck schumer will all be working on the still, and joe manchin was openly was quoted as saying as still working on it, the republicans are getting so angry that, somehow, the chips act passed, and then the reconciliation went forward -- i don't think that was a political device that chuck schumer put together. i think that was just how things broke. maybe they waited a couple of hours or not, i don't know, but i don't see what it has to do with same sex marriage. i don't see what it has to do with medical benefits for our veterans. >> how do democrats take on this achievement, if it does get passed and ultimately signed into law?

he's been negotiating with chuck schumer on the inflation reduction act and the final agreement was made in a zoom call. democrats say the bill would reduce the deficit by $300 billion, revenue would come from a minimum corporate tax rate, expanded irs tax enforcement and by tightening the so-called carried interest loophole that benefits some investment managers. the bill would also make the largest investment in fighting climate change in u.s. history. nearly $370 billion will go to new tax credits for renewable forms of electricity, electric vehicles and grants to automakers to increase efficiency. on healthcare, the bill would keep the affordable care act premiums from increasing and cap out of pocket prescription drug costs for medicare recipients at $2,000 per year. medicare will also be able to directly negotiate prices with drug companies, reducing costs. we go now to west virginia democrat joe manchin. senator, welcome. i hope you're feeling better from the covid. let me start with -- >> i am, john. thanks for having me. i appreciate it. >> let me start with something you to sai

but he never felt he had gotten in the place but he gave credit to schumer and schumer does deserve credit. he stayed with him. even when the white house was fed up with manchin and president biden, you know, had -- was not happy when build back better fell apart but manchin got to a place where he thought there could be a deal and comfortable with what he'd seen and he feels like the country needs this kind of deal right now. yamiche: and a quick follow you mentioned build back better. what's the name change? what's in tha john: well, you know, what's funny because we were calling id nicknamed this bill back -- build back manchin and he didn't like that and calling it the inflation restriction act. yamiche: the build back better act? john: no, it is not. there are elements of it. medicare prescription drug negotiations. there is some corporate tax increases. or corporate minimum tax. there's three years of obamacare subsidies. there's a huge investment in climate change and energy credits. there's some very interesting energy tax credits on that. there's something on -- carried interest,

schumer was a big plus for him. had the big moment in december when joe manchin walked away from build back better, that was a huge embarrassment for the president and schumer. you had a big moment early in this year when joe manchin refused to move on the filibuster. that was a big embarrassment again for schumer. again, it looked like a couple wes ago that these talks were going to break down. manchin kept saying to me and some other reporters, i'm not walking away from the table. chuck says i am, but i'm not. they kept talking. senator schumer said, on july 18, joe manchin reached out to him after announcing the deal had fallen apart and sai i want to keep talking. they were able to come up with a deal this week. >> this agreement marks the most substantial effort to tackle climate change by the federal government in recent history. reduce carbon emissions by roughly 40% by 2030. it is not quite would president biden set out to do, but is that close enough for this white house? >> this white house is saying this

schumer and mansion did not get along with harry reid. schumer was a big plus. the big moment in december when mansion walked away from build back better, a huge embarrassment for the president and for schumer. the moment early this year when mansion refused to move on the filibuster. that was a big embarrassment again for schumer. but mansion put out a statement, i'm not walking away from the tae. chuck says i am but i'm not. they kept talking and senator schumer said on july 18, mansion reached out to him after he announced the deal had fallen apart and set i want to keep talking. they were able to come up with a deal this week. geoff: this marks the most substantial effort to tackle climate change by the federal government in recent history. reduce carbon emissions by roughl40% by 2030. it's not quite what president biden set out to do but is it close enough for this white house? laura: the white house is saying this is the most historic climate change legislation that has been passed to date. yes, biden definitely supports this. the president highlighted the

it's a frustration that schumer spoke to yesterday in regards to manchin.ngs have gotten heated over the course of the negotiations. listen. were you frustrated during this process? >> i've been frustrated for a long time, because i think we have so much we need to get done. my dad passed away six months ago. he taught me something. if you are doing the right thing and you persist, keep at it, god will make sure you succeed. so we kept at it. >> reporter: schumer noting the persistence he had in these meetings between himself and joe manchin. again, i think it's important to point out here that it was just these two men in the room. schumer even said to me yesterday, manchin wanted to keep it so close, not even extending the president into these negotiations. schumer told me the white house generally knew what was going on, but at the same time, this was a senate negotiated deal between these two key democratic senators. >> what about the economic implications? earlier larry summers was telling me he thinks this is a good bill it will bring down inflation a

schumer: i send a cloture motion to the desk. the presiding officer: the clerk will report the motion to invoke cloture. the clerk: cloture motion, we, the undersigned senators, in accordance with the provisions of rule 22 of the standing rules of the senate do hereby move to bring to a close debate the don't on the nomination of executive calendar number 989, gregory brian williams, of delaware, to be united states district judge for the district of delaware, signed by 18 senators as follows. mr. schumer: i ask consent the reading of the names be waived. the presiding officer: without objection. mr. schumer: now, madam president, i move to proceed to legislative session. the presiding officer: the question is on the motion. all those in favor say aye. all opposed say no. the ayes appear to have it. the ayes do have it. the motion is agreed to. the presiding officer: i move to proceed to executive session to consider calendar number 971. the presiding officer: the question is on the motion. all those in favor say aye. all opposed

and let's talk about -- you have the schumer/manchin deal.t's still fragile. >> we shouldn't say success yet. right. >> right. something happens. in this case, they need all 50 democrats. and democratic senator kyrsten sinema has not given her approval, right? >> yeah. i think since early june, they haven't had all 50 senator, all 50 democrats, in the chamber mostly because of covid and senator leahy hurt his hip. covid is one of the biggest things they have to worry about. unlike the house, senators cannot vote remotely. they never instituted that during covid. that's a big fear. as you point out, this was a deal between manchin and schumer. there's some reporting out there that sinema is taking her time reviewing this and is letting the world know that, hey, she didn't sign off on anything. she's been the other senator that's been very, very difficult to wrangle. looks like all 48 other democrats are on board with whatever schumer can get out of manchin. but sinema is still a question mark, as you point out. >> yeah, i want to talk about so

what schumer and manchin both said is they kept these talks between them. it's not just on reconciliation, though. president biden, while he's been generally aware of the contours of these deals, was also not one of the negotiators in the gun bill that passed the senate democrats a few weeks ago. it's not entirely abnormal. there have certainly been other presidents who have not been deeply steeped in the weeds of legislating on capitol hill. but at the same time, as someone who covered biden's candidacy, now as president, despite the fact he campaigned as someone who was a master of the senate, who understood the inner workings of this body, he is someone who has largely stayed out of the legislative fray. i just think as people who love to cover politics, it's interesting to watch that play out. >> quickly, even though he is wasn't a part of the negotiation, was schumer picking up the phone and saying by the way this is quietly happening on the side despite what you may be hearing that man chinn is a no-go? >> i actually asked that question when i got som

he kept telling schumer that the end of the fiscal year septembea good deal to be had. the white house came around to where manchin basically always had been. that is the manchin point of view through the hill opinion piece there, kimberly. your thoughts on all of this? >> well, manchin did make it very clear that he never left the negotiating table so by the way more fool republicans. mitch mcconnell had said back in june that there would not be any chips semiconductor bill no republican support for it so long as democrats were still engaged in the reconciliation process. and then they basically just assumed that joe manchin wouldn't ultimately get there. that was a clearly a giant mistake. and their own interest in home state subsidies for the semiconductor industry ended up making them step up this week and give away that leverage and basically paveed the way for this deal to go ahead. sons if it does cross the finish line, republicans i don't think it's really correct for them to say they were duped. i think that's unfair to the two real dupes everywhere. >> bret: h

it games after chuck schumer and joe manchin announced an agreement on that bill. president biden: yesterday i spoke with both senator schumer and manchin and offered my support for historic agreement to fight inflation and lower costs for american families. it will be the most important investment, not hyperbole, the most important investment we've ever made in our energy security and developing cost-saving and job-creating clean energy solutions for the future. it's a big deal. also for first time if a long time, begin to restore fairness to the tax code. by making the largest corporate nations -- largest corporations in america pay their fair share, without any new taxes on people making under $400,000 a year. experts, even some experts who have criticized my administration in the past, agree that this bill, this bill will reduce inflationary pressures on the economy. this bill will in fact reduce inflationary pressure on the economy. it's a bill that will cut your cost of living and reduce inflation, lowers the deficit. it strengthens our economy for -- in the

his remarks came a day after senate majority leader chuck schumer and senator jones manchin announced an agreement on that bill. [background noises] >> good afternoon. yesterday i spoke with both senator schumer and manchin and offered my support for stork agreement to fight inflation at lower cost for american families. it is called the inflation reduction act of 2022. some of you will see a lot of similarities between the buildn that better initiative not all of it we have moved a long way. i'll be going into detail in a minute. but simply put the bill will healthcare costs for millions of americans and it will be the most important investment, not hyperbole the most important investment we have ever made inner energy security and developing cost savings and job creating clean energy solutions for the future. it is a big deal. also for the first time in a long time, began to restore fairness by making the largest corporation in america pay their fair share without any new taxes people making under $40000 a year. experts, even simple experts have criticized my menstruation in the pas

but, no, i never rusted chuck schumer. i -- trusted chuck schumer.he was going to continue trying to put together some reckless tax and spending bill until the final moment of the final day of the fiscal year. i knew he wasn't going to stop. no republican should ever believe chuck schumer. with regard to the bill that passed, there were republicans and democrats who know we have a specific problem with china. i say never again can we be dependent on china for medicines, for materials, for important minerals. never again. they're trying to get at a problem. i just think it didn't provide what we needed to do to prevent china from stealing our trade secrets. i've been on the conference committee for that bill, the votes were there. i'm not surprised it passed. what i am surprised is that joe manchin has signed on to chuck schumer's bill. i'm not surprised that chuck schumer will continue to tell people anything that will help him go very, very liberal with his agenda. maria: well, senator, i guess what i'm asking you is shouldn't the republicans be doi

and one of the first things that i started getting text messages about, was this schumer and manchin,ling out the rug from underneath mcconnell after they passed chips in the senate. it could complicate things for republicans in the house from a political stand point because it is a bill that would have national security implications because of the way that it allows the u.s. to better compete with china, but at the same time, there's still a likelihood that it is going to pass anyway and this does look like a moment where politically manchin and schumer are going to allow democrats to do both of the things that they wanted and completely changing the threat around chips and legislation. >> it certainly seems like a rarity, mitch mcconnell may have been out maneuvered. let's look at reconciliation package. two part question. first, we know joe manchin is on board but do we know anything about kyrsten sinema, who has been an obstacle to the legislative agenda before. but if this does go through, it becomes suddenly a transformative moment for the democrats controlling both houses of co

just one day earlier schumer and west virginia democrat joe manchin sent shot waves through congress by -- shock waves through congress by introducing the inflation reduction act of 2022 seemingly out of left field. planning to bring it to a vote at the senate floor next week and democrats are expressing cautious optimism about the chances of moving forward and that includes president biden who had this to say at the white house yesterday. >> i know it can be sometimes seem like nothing gets done in washington. and i know that never crossed any of your minds but the work of the government can be slow and frustrating and sometimes even infuriating. then the hard work of hours and days and months for people who refuse to give up pays off. history is made. lives are changed. with this legislation, we're facing up to some of our biggest problems and taking a giant step forward as a nation. my message to congress is this. this is the strongest bill you can pass, to lower inflation, to cut the deficit, and reduce health care costs, tackle the climate crisis and promote energy security. >>

democrats are jubilant right now over this manchin-schumer deal. if you remember, we used to call this build back better. democrats, progressives, moderates fought for this package for an entire year last year. if you remember all those twists and turns, and it was left for dead. if you look at all these different things in it, $400 billion for tax reform, climate and energy, deficit reduction, health care subsidies, lower prescription drugs. there's a lot for democrats to like. they are quietly celebrating, some more boisterously. they really feel like this is within grasp. so there are a couple big hurdles in the way right now. number one, kyrsten sinema, the other key moderate. we don't quite know where she is. she is not commenting. she was not part of these negotiations. let's hear a little bit about what joe manchin had to say about his colleague kyrsten sinema and the state of play of this new legislation. >> first of all, with keir sten, our people are working intensely. our people wrote the bill, wrote the context. that's why everything wa

this deal was cut ex-cclusively between joe manchin and chuck schumer.y where she will come down. she's declining to comment, she would not answer questions about it today. she did not even go to a senate democratic caucus meeting where they discussed these issues. her office is waiting for the senate parliamentarian's review of this bill to move ahead. that is the other big obstacle here, jake. the senate parliamentarian needs to decide whether this can pass muster under the senator's budget rules. if she does say that, then the bill can pass along straight party lines avoiding a filibuster, meaning they don't need any republican votes to get this done. so these are the two cheap hurdles. but chuck shumer is optimistic this will move ahead after he and joe manchin reengaged in talks and cut this deal. manchin told me and other reporters today that he was alarmed at the inflation numbers that came out in june, mid july about the june numbers. that's why he initially stepped back. but he continued to talk and a deal was reached. take a listen. >> that 9.1

we heard from the senate majority leader chuck schumer.ow let's hear from mitch mcconnell, senate minority leader, about issues of the economy, including these proposals by the democratic party on the democratic side. here senator mcconnell from yesterday. [video clip] senator mcconnell: democrats inherited an economy that is primed for a comeback and probably ran it straight into the ground. -- promptly ran it straight into the ground. of course, they don't need statistics to tell them today's democratic party is a walking, talking economic disaster. democrats' ale years are causing working families personal pain on a daily basis. americans know democrats cannot be trusted. they know every time they fill a gas tank, every time they check out at the supermarket, every time parents stay up late at the kitchen table trying to figure out which bills they can afford to pay. because democrats fed us into inflation. 90 million american households say they are having a hard time meeting expenses. 90 million american households. the average househ

what is chuck schumer doing exactly? and why?will tell you after the break. ♪ ♪ ♪ ♪ >> tucker: congress is meant to vote on a bill that would give more than $50 billion to the semiconductor that fried billions for "domestic science investment in education" so because it is for domestic production it would have borrowed u.s. tax dollars from funding semiconductor manufacturing and research in china. but then senate majority leader, the adverse silty chuck schumer stepped in and remove that from the bill thereby helping china. the prebegin reporting that republicans were caught off guard, what is this about? and what effects will it have? jonathan tolson is the author of 5g and footing back, joining us tonight. thank you so much for coming on. and i should say that this was the business you are in for quite some time, deeply grounded in this topic. why would chuck schumer do something like this and what will the effect be? >> well, china has figured out how to play our congress like a fiddle. they have -- they know that american co

explain why you targeted not the republicans but the senate majority leader chuck schumer.s, amy. part of this action was kind of an alarm bill that we were ringing from the inside. we were trying to direct people toward the senate majority leader, and frankly, the president of the united states to say these are the people that need to be negotiating like our lives depend on it, which they do. we have seen senator manchin go back and forth with industry, and we thought was needed here was a boost for senator schumer to keep negotiating, to not get discouraged, to keep going. we have no option. there is a huge age divide here. we hope this had an impact, but there are hundreds of congressional staffers who are doing different things to try to get this bill back to life. we are going to live through the chronic crisis. -- climate crisis. i am hoping that my goddaughter grows up in a livable world. we were on track for that. hopefully we are more livable. amy: we spoke to your father, who was arrested twice last week. you were arrested once. a lot of arrests in your family. ta

the senate leader chuck schumer says he has one coming.al with senator joe manchin on an economic bill that will be ready for a vote as early as next week. among other things, he says it would provide $369 billion for energy and climate programs, with the goal of reducing carbon emissions by 40% by 2030, allow medicare to negotiate drug prices, cap out of pocket prescription cost for drugs and set a 15% corporate minimum tax. schumer says it will be, quote, the greatest pro-climate legislation that has ever been passed by congress. but will it actually pass? let's ask a member of the -- house congressman ro khanna joins me along with former senator doug jones and jonah goldberg. i'm so glad you are here, thank you for staying gentlemen. and welcome to the program congressman khanna. wondering what you know about the steal? should there be enthusiasm behind it? this is over 300 billion dollars of common investment. the estimates are that there -- >> this is over 300 billion dollars of climate investment. the estimates are it would have 40%

senate leader chuck schumer says he's got one coming.ator joe manchin on an economic bill that will be ready for a vote as early as next week. it would provide $369 billion for energy and climate program with the goal of reducing climate emissions by 2030. allow medicare to petition drug prices, cap out pocket price for drugs, and set a 15% corporate minimum tax. schumer says it will be, quote, the greatest pro-climate legislation that has ever been passed by congress. but will it actually pass. congressman roe khanna joins. thank you for staying with us. what do you know about this deal? what should we know? should there be enthusiasm or apt mims behind it? >> we should be excited and enthusiastic. this is over $300 billion of climate investments. the estimates are that it would have 40% reduction of co2 emissions. it's going to have a tax on corporations not paying tax. i haven't seen all the details. it is significant progress. is it what i would have wanted? no, i would have written more. but it is much, much better than anything tha

and schumer shot it down.ate sources are telling "primetime" that schumer has now agreed to toomey's amendment and the bill jon stuart and all of us care about is expected to pass early next week. and this ginned up drama will be over. i'm not going to blame jon for not knowing all the facts. going forward, let's do this. i will do the research, and jon stuart can handle the farming. it's better for everybody that way. and we do sincerely appreciate his support for our veterans. chuck devore is a retired army intelligence officer who joins us now. so, it's a little more complicated than jon stuart leads everybody to believe but it is important, chuck, to understand exactly i think stewartshould offer "jesse watts primetime." >> have you done your homework and thank goodness you have. i appreciate jon stewart's advocacy for veterans. it's something that we all appreciate something jon stewart should know veterans care very deeply about their nation. that's why many of them signed up and put their lives on the l

we worked with schumer's staff, they were very constructive. everybody would give and take a little bit and the white house, they were basically kept apprised of what was going on to a certain extent. >> reporter: so manchin bringing us behind the scenes there both in terms of the strategy with republicans and also the strategy within his own caucus. i think what's clear is the fact that he hasn't talked to senator kyrsten sinema. you're also getting a little bit of behind the scenes because that's what our zoom booth looks like because senator manchin is at home with covid. >> quite luxurious. i had forgotten how fabulous it is there. i want to go back to this big picture, if i can, eugene, which is the point of the new york magazine headline that biden has been brought back from the dead. i guess one argument is the president's numbers have been so low, there was nowhere to go but up. the other is the victory was snatched from the jaws of defeat. what are they feeling at the white house? are you sensing from them that they think now there's t

senate majority leader chuck schumer talks to reporters about house passage of a bill to boost computer chip production which now heads to the president for his signature. senator schumer also spoke about a compromise to deal in the senate to address prescription drug prices, climate change and the budget deficit. [inaudible conversations] why don't we get a different color for each day. okay. well it's been a momentous 24 hours in congress. the legislative punch the american people rarely see. a little while ago the house voted to approve the largest investment to lowering costs, increasing manufacturing, investing in science and helping to fix our semi conductor crisis. the chips and science bill after three long years now goes to thh president's desk. and last night senator mansion and i announced an agreement on the reconciliation package.io the inflation and the challenges facing the american people lowering the cost, fighting climate change and making healthcare more affordable in this country. again the past 24 hours have been a one-two punch that americans rarely see and will be

plus with ten days to go before the august recess, chuck schumer is urging democrats to stick together to pass that spending bill. we'll go live to capitol hill when "morning joe" comes right back. for too long, big pharma has been squeezing americans for every penny, and inflation has only added to the pain. but congress has a historic opportunity to deliver relief, by passing a bill to let medicare negotiate lower drug prices and put money back in the pockets of seniors. 87% of americans support the plan, and applaud the senators who are standing up to big pharma. let's make history. vote yes to let medicare negotiate lower drug prices. finding the perfect project manager isn't easy. but, at upwork, we found him. he's in adelaide between his color-coordinated sticky note collection and the cutest boxed lunch we have ever seen. and you can find him right now on upwork.com when the world is your workforce, finding the perfect project manager, designer, developer, or whomever you may need... tends to fall right into place. find top-rated talent who can start today on upwork.com in the n

he said chuck schumer came back and said let's do a deal. let's scrub it and get rid of everything you don't like, and let's it through. this begins a mad rush through august to get this through the house and senate, and to the president's desk. republicans will say it is a tax increase during a soft economy. there is truth to that. it does increase taxes. it gets rid of the carried interest loophole that private equity folks have relied on for many years. it institutes a minimum corporate tax. the democrats feel like it raises revenue and it will enact a huge swath of their priorities. to make it raises taxes, but it's a 50% minimum tax. this will have lowering prescription drug costs. the progressives have had these things on the list for many years. the question is, will the pastor reconciliation, they need all 50 votes, and kamala harris to break the tie. that does open the question to representative cinema. was to go with this? to make joe manchin made the case that the tax hikes are so narrow on corporations that do not pay 15% minimum

>> senator schumer took the lead in these negotiations.sn't one of these big gangs or a public event of some kind. i'm sure the white house, i know, is involved in working on this as well. and we appreciate the presidents work. but in the end, it really came down to senator manchin having to make a decision while these fires are burning in california and across the west, while we've seen higher and higher temperatures, record temperatures across the country, at some point, we can put our heads in the sand anymore. and he made, what i think, was a good decision to move forward on the climate provisions, not just leave them behind. >> we fight a lot about inflation. you just said yourself, this bill will help ease inflationary pressures. we also heard a lot about the r-word. i'm talking about recession. the white house has adequately fought the use of the r-word to the point where now, folks like me on television or having to debate about what is the definition of a recession. but let's just take the ballistics out of it, how would you expla

it starts with senator schumer work in introducing this legislation more than two years ago. senator schumer's great work with senator young on this, was an eye-opening change in the way we make investments. it was a concept novel then, but we have a lot of understanding of it now. that is to move the rnd into faster translation, products, and services. why? because the rest of the world is doing that and we need to hurry as well.on i also want to point out thereis are lots of contributions for members in this bill paid senator peters on ai scholarships, center court has amassed so our national science technology strategies, senate rose an uncritical mineral comments under nasa authorization, senator warnock on semiconductor supply chain, senator brown and coons on manufacturing usa institute, center also on cybersecurity education grants. senator menendez on supply chain issues. many, many things in thisy legislation contributed by any different members to a regular order process. but let's get specific about it. there are five or six things in this bill that really matter t

they let chuck schumer take the lead.suspicion is that you are going to start seeing white house get more involved trying to close or at least help close a lot of these so when they come back in the post labor day period they can at least have some momentum and some accomplishments to tout to the voters. >> by the way, you mentioned the burn pit. we will talk about that more because that was -- from all of the supporters, we have covered this for years, really, john stewart, those 9/11 first responders who got no benefits, some of them have died since we started interviewing them, since they have been testifying and for the last minute -- i don't know how to describe the fact that the vote failed, the procedural vote last night, after it had been given bipartisan support. ali, carol, gillian, sam, michael, thanks for starting us off. >>> we will speak to u.s. secretary of state -- excuse me, u.s. secretary of commerce gina raimondo. russian roulette. is there movement to getting brittney griner and paul whelan home? we wi

senator joe manchin and joe schumer have agreed -- and chuck schumer have agreed on a 15% minimum corporate and would allow negotiated drug price cuts. a u.s. aircraft carrier and other navy vessels have entered the disputed south china sea at a time of rising tensions between washington and beijing. china is unhappy that house speaker nancy pelosi may visit taiwan, which china considers part of its territory. president biden and china's leader xi jinping are expected to speak on the phone today. u.s. secretary of state antony blinken plans to speak with his russian counterpart about a deal to free imprisoned basketball star brittney griner and another jailed american. the u.s. would swap them for a russian arms dealer it holds. the kremlin says there is no deal yet. shell has reported record profits for the second quarter in a row. the company also announced it would i back a further $6 million of shares in the third quarter. second-quarter net income was almost $7.5 billion. this is bloomberg. ♪ >> i worry that the story of this year will be the fed lagging. what is the most likely outcom

which have been frozen, may be on the move again with a surprise deal between joe manchin and chuck schumer. cnn will bring you the president's remarks when they begin. let's start with the new gdp report. with me is matt egan. walk us through the report, the numbers, what you see. >> so broadly consumers were still spending. it is a slowdown for sure but overall that was a positive contributor to gdp. on the other hand, government spending slowed down. when we look at where consumers are spending, it's an acceleration of what we've seen. we spent less on physical items. services, however, think airfare, which is why airports are so busy these days, hotels and restaurants, that really accelerated. business spending declined and inventories, which we have been hearing from a lot of retailers for sure but also other companies they are trying to move out their inventory, there has been a mismatch of what they have. that was reflected here, too. i think to put it simply, it is clearly showing a slowdown. >> matt, this is -- you've written a lot about this. this is one of the big indicators that

schumer's staff would look at it and negotiate.hrough them. >> so president biden was not involved? >> president biden was not involved. >> president biden not involve ed in the negotiations. but happy to scelebrate the end product, if you can get it to the finish line. i want to show you a little bit. slashed greenhouse gas emissions by 2030 is a goal. $30 billion for wind, solar and battery storage. that's the climate stuff. those are things the democrats wanted to do from the beginning. they failed. they failed again. now this is back to life. are we done? are we going to get to the finish line? >> we can't say it's done until it's voted opt and sent to the president's desk because we now how things work here in washington, but this is potentially a big win for biden because this is something he wanted a all along. and just fall when things imploded with senatorm manchin, the white house has taken a big step back in terms of their day-to-day involvement. they would not talk about the conversations they were having and all my sou

this is between senate majority leader chuck schumer and west virginia democratic senator joe manchin. this is a major piece of legislation, one that they say would pay down the national debt, cut health care costs, fight climate change and battle inflation. joining us now is someone who may have been a key player in making this happen according to the "washington post," former treasury secretary under bill clinton lawrence summers. he also served as director of the white house economic council in the obama administration. thanks so much for being with us this morning. the "post" reports you had a pretty important phone call with joe manchin. talk to us about your role here. >> oh, i talked to officials from -- fairly frequently from time to time, but in order to do that i never talk about the confidential conversations that i have, but this is a good bill. this is an important step forward on inflation, which has been my preoccupation this last year, it's historic on the environment, it's going to make our society more fair and equal at long last, getting rid of the carried interest

does that mean chuck schumer. not for the going to have to trim it down the going to have to find something that's under manchin will agree too. the last thing you don't you head into a recession when the economy's in this of shape, raising taxes on job creators certainly do not need see anymore the green energy investment going on for the more regulations constraining oil supply at making our economy far, far worse with the pain of pompous and robust. that's at the time is slowing, elastic people is higher taxes. how significant are the tax increases? the reconciliation opportunity you think they'll be able to do something? >> are going to have to completely recalibrate because joe manchin is taken a big chunk out of this package that they wanted to show through. particularly how the going to pay for it right to pay for the somewhat more on the backs of americans in corporate texas who thanks paying the corporate taxes? it's a higher price is more inflation at one robust, less investment is going to occur as well

one on the schumer/manchin bill, a billion dollars for electric garbage trucks and buses, a billion. other hand what about that semi conductor enrichment bill. 17 republicans signed onto that in the senate and sent it to the house. you want to talk about spending mistakes. some of those republicans are part of the problem. >> that's right. let me tell you, when we get our majorities, dagen, the republican party for the first time -- they will lose the people. >> republicans try to play the game that they are anti-deficit. donald trump added to deficit more than barack obama did. all you guys did was print money which is why we have the inflation we have today. we had the pandemic and had to do it. don't try to point fingers and say all the democrats want to do is spend money. that's all you did for four years. >> you and i will get along great. i criticize republicans more than they like and they spend way too much money. it's on the wrong side of history and economics. >> let me add this the federal reserve $2 trillion spending bill from president biden last year, the federal reserv

schumer doesn't fear these guys.is embarrassing and insulting. >> harris: former utah republican congressman jason chaffetz. what's is your response? >> shame on the democratic congressmen who sent staffers over for a publicity stunt. that inside chuck schumer's office, not outside. shame on them for doing that. it is a publicity stunt. they didn't leave when asked. it's not the way to get things done. you should go out and make your case. you don't do so inside the majority leader's office. i'm sure it will smooth things over so that chuck schumer is getting along better with the house. this is not the way to do it. i'm glad they were arrested and they should be prosecuted. >> harris: i'm trying to understand and said it to our viewers just now, what about the threats on the lives of u.s. -- sitting u.s. supreme court justices, conservatives not just them but going to places where they are with their family, with people they know and having to tolerate so much more incursion and potential threat of something more ha

he knew, i assume, i'm told, that the manchin-schumer negotiations were going on. he knew about them all along. he knows every day when he gets up that there is going to be something on the desk having to do either with china or something that happened in indiana. there is something every single day. he doesn't get a lot of publicity for it, nor does he speak a lot of publicity for it. that is part of the problem may be with the medications in this ministration. but the nature of the job -- you have been close to the presidency. the nature of the job is so all- consuming, but i think eventually he must accept the hips that you take every day with regards to the economy, and you say how come i didn't get credit for helping with the manchin-schumer stuff, which he did. >> that is the presidency. you get blamed for stuff you don't deserve, you also get credit for things you don't deserve. but i think that all things being equal, this is probably the best stretch for the biden administration. you are beginning to see some domestic political victories. it is also a pret