MNI POLITICAL RISK - Biden's State Of The Union Debrief

Executive Summary:

• President Biden delivered a State of the Union Address to the United States Congress yesterday which was watched as closely for Biden’s delivery as it was for the contents of the speech.
• Facing a raft of headwinds, including sagging approval ratings, backlash over his immigration policy, and concerns over US involvement in two wars, Biden made the case for Washington’s continued global leadership; attacked former President Donald Trump’s faction of the Republican Party; and laid out a populist economic agenda for a second term. We have a full breakdown of Biden's SOTU and reaction from the Beltway inside.
• The Senate will meet today to overcome any Republican amendments to the House-passed Fiscal Year 2024 spending package before holding a vote this evening.
• The House Energy and Commerce Committee yesterday voted 50-0 to approve legislation that would force the Chinese company Bytedance to divest its ownership of the social media app TikTok within 165 days.
• Senator Todd Young (R-IN) has encouraged other Republican Senators to back the House-passed USD$78 billion bipartisan tax deal which is currently stalled in the Senate Finance Committee.
• US Secretary of State Antony Blinken yesterday accepted Sweden's ratified Instruments of Accession and deposited them at the Department of State to formally confirm Sweden's membership of NATO.
• Poll of the Day: Voters who supported former South Carolina Governor Nikki Haley in the GOP primary are likely to break for Biden.

Please find the full article attached below:

MNIPOLRISKUSDaily080324.pdf