Wear your green today . We have a look at Saint Patricks Day Festivities throughout the bank. From the areas local news station. Youre watching the kron. 4 morning news at 7. Good morning. Thank you so much for joining us here on the kron. 4 morning news. Im stephanie lin. It is sunday march. The 17th. Lets get you started with a look at your Saint Patricks day weather with dave sphar. Good morning day. Well, good morning, stephanie. Good morning, everybody. And for today, one good turn deserves another beautiful saturday. Be a nice sunday as well. Temperatures pretty much on the button or we were from yesterday. Maybe a touch warmer in some of those inland spots. But for right now, not much the way of cloud intrusion at all. And well see upstream actions. Could that lower level moisture a little in the way . Some morning fog expected for tomorrow. Heres a live shot of what it looks like at the Golden Gate Bridge. You can see some of those fog clouds kind of hanging out there, but a go
joining. time for joe to go. who would be the democratic nominee in 2024? we will tell you. a short time ago the senate passed a massive spending bill called the inflation reduction act after more than 24 hours of debate. democrats were able to get it passed using a process called budget reconciliation which allows them to get around the senate filibuster. vice president kamala harris had to cast the deciding vote. on this vote, it is 50/50. the senate being equally divided the vice president votes in the affirmative and the amendment is passed. [cheering and applause] democrats made it happen even though senator bernie sanders agreed with the congressional budget office. economists and a bipartisan congressional study that found that the bill would not meaningfully reduce inflation. i want to take a moment to say a few words about the so-called inflation reduction act. i say so-called according to the cbo and other economic organizations that have studied this bill.
People to get health insurance, and a phaseout of the tax cuts. Sahilget the report from kapur, and josh green. Josh is the author of doubles bargain, devils chronicling the rise of steve bannon. Sahil, lets start with you. Is the house coming closer together . Certainly changes take the senate further apart from the house bill. You have a series of its deep cuts that steep tax expire for december 31. To rate was cut from 35 20 . This is going to be a political problem. The optics do not look good. The obamacare individual mandate being repealed, how wide is it for them to bring back this issue . It makes obamacare mixes obamacare with tax reform. Republicans decided this was necessary because they needed. 300 billion in budget saving. Problemare has been a that has bedeviled republicans in congress, but also because if you look at the democratic route , this elections last week takes health care and injected into tax reform. David this was a matter of saying, some of these tax cuts ar
That is what ive been hearing. Lets look at the risk off tone in europe that is being hit the hardest. We are now at eight straight down days and have not seen that kind of streak since 2014, the dax hit particularly hard. A bit of a safe haven bid as far as bund yields. That does not feel like a risk off move in bunds. The dollaryen down 6 10 of 1 . The bloomberg Commodity Index down 3 10 of 1 . Not just oil and copper, the base metals across the board hurt. David now we turn to emma chandra. Emma Senate Republican leaders may have made tax reform a little more complicated. They decided to add repeal of the obamacare individual mandate to their tax package to help them meet the fiscal target but will change the vote calculations in the senate and house. Twice the senate tried and failed this year. The russians have agreed to restructure more than in venezuelan debt. The Credit Rating firm declared venezuela and its state oil company to be in default after missing payments. In zimbabwe
Rig count at 1 00 p. M. Eastern time. Our road map begins with a big set back for Prime Minister may. Yesterdays snap election ending in the Hung Parliament. What does it mean for the looming brexit talks . Plus, stock futures are pointing to new records as investors shake off that political turmoil in the uk and back here in washington, d. C. And complete vindication, thats the take away from the president on the testimony by comey but the reality may be a bit murkier. Well talk about that. But first, the uk is the lead. Mays conservative party lost the majority after the election. Resulting in a Hung Parliament meaning no party has the 326 seats that are necessary for an outright majority. May had called for the snap election in the hope of strengthening her hand in brexit talks after her meeting with the queen, the Prime Minister spoke about forming a Coalition Government. What the country needs more than ever is certainty. And having secured the largest number of votes and the grea