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Legislation. dana, for anyone who missed it yesterday, you were anchoring your show, state of the union, and you i stopped when i saw it pop up on the television because there you had a democratic senator and a republican senator sitting together. senator blumenthal and senator lindsey graham talking about working together. now, there were a lot of things they disagreed on, but they each made their points in a cordial, respectful way. and it was just a rare site in washington. and it also speaks to the fact that we have seen congress pass a number of key pieces of legislation in the last, you know, several weeks on a bipartisan basis. it just made me wonder is washington changing? i wish i could say the answer is yes, but one of the reasons we wanted to do this is because there is a lot of bipartisan discussion, bipartisan work that goes on behind the scenes every single day. bipartisan relationships. you mention that the bill we ....
Friday. quickly, before you go, one thing they didn t get is finally closing the carried interest loophole. the white house had really wanted this. there are a number of big names on wall street who also for years had been calling to close this, jamie dimon, warren buffett. explain to people how big a deal that would have been and why senator sinema didn t want it to happen. reporter: that was one of the pay fors they were going to use. it sounds pretty complicated but the best way to boil it down is that people who manage money, money managers, hedge fund managers, are able to get some of their money that is taxed at essentially capital gains rate, which is a lower tax rate, than if you were taxing wages. so, they re able to make more money at a lower tax bracket. and senator manchin wanted that in the bill. as you mentioned, the white house wanted that in the bill. it would have raised $14 billion, poppy. overall they were trying to raise $350 billion or so. it is a smaller piece ....
Puzzle. sinema said she looks forward to working with mark warner on that, another democrat, as they move forward. jessica dean, thanks very much. for more, let s bring in cnn chief political correspondent dana bash. great to see you. as we noted at the top of the show, this is far less than the build back better plan. it s $750 billion versus $3.5 trillion. democrats clearly seeing this as a major victory. going forward, especially into the midterms, how do they turn this from a legislative victory into a political victory? by talking about it nonstop and messaging it in a way that we re already starting to see democrats try to do to boil it down to how it will affect people s pocketbooks. jessica was just talking about medicare, allowing medicare to negotiate prescription drug prices. that s a really big deal. things that have to do with the climate are probably more are ....
See the president embark on the formal start of the g20 meetings. those are going to involve a lot of discussion about things like a global corporate minimum tax. the president had hoped to be able to come here saying the u.s. was on track or even had moved towards realizing that back in the u.s. but clearly coming here empty-handed. and that s going to make things somewhat more difficult on a very different second foreign trip, geoff. ali on capitol hill, when it comes to the bipartisan infrastructure bill and the social spending plan, is this a matter of when these bills pass and not necessarily if? i ask the question because there still seems to be a lot of mistrust from progressives after those statements from senators manchin and sinema didn t explicitly endorse the reconciliation, the social spending package. i think you re right to touch on both those things, geoff. i do get the sense in talking to lawmakers that it is a sense of not if but when on this. ....
He was buying himself some insurance to make sure senators manchin and sinema didn t change their mind on a carveout or getting rid of it altogether. but at the end of the day, we don t have an agreement on the underlying problem. democrats want reasons to join them in voting to raise the debt ceiling. the republicans are insisting since democrats are in the majority and are running this multitrillion dollar reckon stilluation package, they can include it and do it themselves. why do they have a problem with it anyway being they re being excluded from the bill itself. it s the president s agenda. it s something you want to do. you re not interested in what we have to say. this is the republican point of view. so you deal with it. and next time we re in the majority, it will be our problem. but here s my question with that line of thinking, david. with regards to the president s social safety yet bill, whatever you want to call it, that s new ....