MNI POLITICAL RISK - Harris Breaks With Biden On Capital Gains

Executive Summary:

• Vice Kamala President Harris continued her slow drip approach to policy, proposing yesterday in a New Hampshire speech that she would increase capital gains tax to 28% for those earning more than USD$1 million - another tack to the centre and a clear break from the 44.6% effective rate Biden called for in a July budget request.
• House Speaker Mike Johnson (R-LA) has embraced a plan backed by hardline conservatives to include the SAVE Act in his short-term funding bill to extend FY24 funding beyond the September 30 deadline.
• Former high-profile Republican House rep Liz Cheney, whose opposition to Trump effectively ended her congressional career, yesterday publicly endorsed Harris for president.
• President Biden is reportedly preparing to block Nippon Steel’s proposed USD$14.9 billion acquisition of US Steel over national security concerns.
• Trump is reducing his campaigning presence in several ‘reach states’ that appeared in play when Biden was the Democrat candidate.
• Treasury Secretary Janet Yellen will deliver remarks today in swing state North Carolina on how the Inflation Reduction Act is helping lower energy costs.
• Israel Prime Minister Benjamin Netanyahu again restated that IDF forces must remain deployed in the strip of land between Gaza and Egypt, known as the Philadephi Corridor. A senior US official suggested that Netanyahu's hardline position isn't "particularly helpful" to ongoing ceasefire negotiations.
• Russian President Vladimir Putin said he would prefer Vice President Kamala Harris to win the US presidential election.
• Poll of the Day: Democrat Senate candidates are “broadly outrunning Harris” in presidential election swing states.

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MNIPOLRISKUSDaily050924.pdf