MNI BRIEF: BOC Says Time For Rate Cut Is Nearing

BOC REITERATES TIME FOR RATE CUT IS GETTING NEARER

MNI: Macklem Says BOC Getting Closer To Rate Cut Conditions

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

GDP Deflator Moderates In Q1 As Unit Profits Soften

Canada March Trade Balance Surprises With Deficit Of -CAD2.3B

MNI: US MAR TRADE GAP -$69.4B VS FEB -$69.5B

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 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.