MNI BRIEF: Fed's Daly Says No 'Urgency' To Lower Rates

MNI BRIEF: Powell Says US Is 'Far' From Fiscal Dominance

MNI BRIEF: US Firms Wary of Tariff-Related Inflation - Fed

MNI NBP WATCH: Rates Held, Outlook Unchanged

MNI BRIEF: Barkin Aims For 'Somewhat Restrictive' Fed Rates

MNI China Daily Summary: Wednesday, Dec 4

EZ/UK Bond Supply Calendar: Spain, France Auction, UK Tender

US EIA: CRUDE OIL STOCKS EX SPR -5.07M TO 423.4M NOV 29 WK

MNI: US ISM NOV SERVICES COMPOSITE INDEX 52.1

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI POLITICAL RISK ANALYSIS-Legislation Boosts Dems' Nov Hopes

Executive Summary

  • There was a shock announcement from the Hill yesterday. Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV) announced a breakthrough in negotiations on the reconciliation bill once known as Build Back Better, twice scuttled by Manchin, and feared dead and buried by most Democrats.
  • The final deal, now known as the Inflation Reduction Act, is far larger than Democrats had expected during talks earlier this month and includes a 15 percent corporate minimum tax, prescription drug reform, enhanced IRS enforcement, the closing of the carried interest loophole, funding for ACA subsidies and, and USD369bn to address climate change and energy policy.
  • The announcement appeared to come to a surprise to President Joe Biden who called the pair to congratulate them on their agreement. Manchin and Schumer said in the statement that "investments will be fully paid for by closing tax loopholes on wealthy individuals and corporations."

Full article PDF attached below:

MNI POLITICAL RISK ANALYSIS-Democrats Boost November Hopes With Major Legislation .pdf

Political Market NewsPolitical Risk
Political Market NewsPolitical Risk

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.