MNI POLITICAL RISK ANALYSIS - US Daily Brief 16-12-22

Executive Summary:

• The Senate has passed a short-term measure to fund federal government agencies through December 23. The measure will provide time for lawmakers to conclude work on a USD$1.7 trillion omnibus and set up final votes next week.
• The National Defence Authorisation Act passed the Senate yesterday authorising USD$45 billion more than President Biden requested but Senator Joe Manchin's (D-WV) energy permitting bill fails again.
• House Minority Leader Kevin McCarthy’s (R-CA) bid to become the next Speaker of the House of Representatives is continuing to damage intra-party unity.
• The Inflation Reduction Act will likely be on the agenda as Deputy Treasury Secretary Wally Adeyemo departs on a three-day trip to Belgium and Germany.
• Treasury Secretary Janet Yellen has issued a statement on the EU directive to move forward with implementation of a global minimum tax on corporations.
• The three-day US-Africa Leaders’ Summit has wrapped up with President Biden pledging USD$55 billion of investment on the continent and Secretary of State Blinken taking a swipe at China's Belt and Road Initiative.
• Blinken will hold a bilateral meeting with his Mexican counterpart Marcelo Ebrard today as the US and Mexico fail to make progress resolving a trade dispute over Mexico’s energy policy.
• Poll of the Day: Democrat and Republican voters diverge on Congressional priorities.

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MNI POLITICAL RISK ANALYSIS - US Daily Brief 16-12-22 .pdf