Biden to Meet McConnell, McCarthy Wednesday at Pivotal Point for Dealmaking

About This Source - Bloomberg QuickTake: Now

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.

It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

Recent from Bloomberg QuickTake: Now:

  • Biden Says He Feels Good About 8-Day European Trip Before Traveling Home
  • Moscow Orders Mandatory Covid Vaccinations as Hospitals Strain
  • Biden Says Tone of Putin Summit Was ‘Good, Positive’ in Geneva
  • Bloomberg Quicktake: Now published this video item, entitled “Biden to Meet McConnell, McCarthy Wednesday at Pivotal Point for Dealmaking” – below is their description.

    President Joe Biden is preparing for his first face-to-face meeting with the top two congressional Republicans, Mitch McConnell and Kevin McCarthy, just as the GOP is ramping up opposition to his $4 trillion economic plan, a rallying point for the party amid infighting over allegiance to former President Donald Trump.

    After McConnell declared last week that he’s “100%” focused on blocking Biden’s agenda and with McCarthy aligning himself with the faction in his party that questions the legitimacy of the 2020 election, there’s little expectation of a breakthrough.

    But the coming week still could prove pivotal for any chances of an agreement on the infrastructure portion of Biden’s suite of long-term economic proposals.

    The White House session, which also includes House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, will take place the same day a Senate committee attempts to advance a bipartisan China-focused manufacturing bill widely seen as a test case for deal-making.

    Both sides will be armed with Friday’s jobs report, which showed vastly weaker than expected U.S. job gains in April. Payrolls rose 266,000, less than half the median forecast, while unemployment edged up to 6.1%.

    The White House said the report demonstrated the need for the infrastructure and manufacturing-focused American Jobs Plan and social safety net-focused American Families Plan. “We’re still digging our way out of a very deep hole we were put in,” Biden said Friday.

    The president and other Democrats also said the data should quiet the alarms being raised by Republicans, including Maine Senator Susan Collins, that the flood of government spending will ignite inflation.

    Republicans countered that the hiring shortfall showed it was time to roll back expanded unemployment benefits, saying they were stopping people from going back to work. It also stiffened GOP opposition to the tax increases on the wealthy and corporations that are a central part of the Biden package.

    “This is a stunning economic setback, and unequivocal proof that President Biden is sabotaging our jobs recovery with promises of higher taxes and regulation on local businesses that discourage hiring and drive jobs overseas,” Texas Representative Kevin Brady, the top Republican on the House tax-writing committee, said.

    But previously, Republicans had cited stronger economic data as showing there was no need for additional government spending. That argument may resurface in coming months as more adults get vaccinated, spurring a return to the job market.

    The debate over the jobs report comes as Biden and top Democrats continue to say they want to explore moving at least part of the Biden plan through Congress with Republican cooperation before resorting to a partisan budget process to try to ram it through with only Democratic votes. Democrats say that moderates in their party will not consider the partisan approach until a sincere effort at a deal is made.

    Bloomberg Quicktake: Now YouTube Channel

    Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

    In This Story: Democrats

    “Democrats” usually refers to the The Democratic Party of the United States – one of the two major political parties in the country, along with its main, historic rival, the Republican Party.

    It was founded on 8th January 1828 and has its contemporary headquarters in Washington, D.C., United States. The present leadership is Nancy Pelosi (Party leader) and Jaime Harrison (Party chair).

    2 Recent Items: Democrats

  • FBI Warns Of Potential For More Violence From QAnon Followers
  • ‘Pure insanity’: See top Trump DOJ official’s response to election probe request
  • In This Story: Donald Trump

    Donald John Trump was the 45th President of the United States. Before entering politics, he was a businessman and television personality. Trump was born and raised in Queens, a borough of New York City, and received a bachelor’s degree in economics from the Wharton School.

    5 Recent Items: Donald Trump

  • Biden Says He Feels Good About 8-Day European Trip Before Traveling Home
  • Biden Urges ‘Stable and Predictable’ Relationship With Russia After Putin Summit
  • Biden Says He Warned Putin Against Cyberattacks on U.S. Infrastructure
  • Watch Joe Biden discuss his meeting with Russia’s Putin
  • Here are the highlights from Vladimir Putin’s post-summit press conference
  • In This Story: Joe Biden

    Joe Biden is an American politician serving as the 46th and current president of the United States. A member of the Democratic Party, he served as the 47th vice president from 2009 to 2017 under Barack Obama and represented Delaware in the United States Senate from 1973 to 2009.

    He is married to Dr Jill Biden.

    Books by Joe Biden #Ad

    6 Recent Items: Joe Biden

  • Watch LIVE: Pres. Joe Biden holds summit with Russian Pres. Vladimir Putin in Geneva (2021)
  • Key takeaways from the Biden-Putin summit | DW News
  • Biden Says He Feels Good About 8-Day European Trip Before Traveling Home
  • Biden Has Sharp Exchange With Reporter About Detainees
  • Biden Says Putin Knows There Are Consequences to Election Interference
  • Biden holds a news conference after talks with Putin – watch live
  • In This Story: Mitch McConnell

    Mitch McConnell is an American politician currently serving as Kentucky’s senior United States senator and as Senate majority leader.

    2 Recent Items: Mitch McConnell

  • Mitch McConnell Shamelessly Says “The Era of Bipartisanship Is Over”: A Closer Look
  • McConnell: Americans didn’t vote for this radical left-wing agenda
  • In This Story: Nancy Pelosi

    Nancy Patricia Pelosi is an American politician serving as a congresswoman from California and the speaker of the United States House of Representatives. A member of the Democratic Party, Pelosi is the only woman in U.S. history to serve as Speaker and the highest-ranking female elected official in United States history. She is also the dean of California’s congressional delegation. As House speaker, Pelosi is second in the presidential line of succession, after the vice president.

    Books #Ad

    2 Recent Items: Nancy Pelosi

  • ‘She’s a menace’: Ari Fleischer blasts Ilhan Omar for retweeting anti-Israel org
  • Joe Concha rips NPR for ‘anti-racist’ op-ed on Tom Hanks
  • In This Story: Republicans

    The Republican Party, sometimes also referred to as the GOP (Grand Old Party), is one of the two major contemporary political parties in the United States, along with its main, historic rival, the Democratic Party.

    It was founded on 20th March 1854 and has its contemporary headquarters in Washington, D.C., United States. The present leadership is Ronna McDaniel (chairwoman).

    2 Recent Items: Republicans

  • Keilar and Berman call out GOP who voted against honoring police
  • Here’s how Democrats can keep their majority in 2022
  • Leave a Comment