US Senate on the cusp of approving Biden’s $1tn infrastructure package
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 10 August 2021
⏱️ 9 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/7822a4a7-d31a-40ce-8217-ebbafc4acb09
Oil prices continue to slide on investor concerns over the spread of the coronavirus Delta variant, especially in China, and DraftKings buys Golden Nugget Online Gaming for $1.56bn. Plus, the FT’s Washington correspondent, Lauren Fedor, explains how the US Senate is getting closer to approving president Joe Biden’s $1tn infrastructure package.
US Senate set to pass $1tn infrastructure package in bipartisan vote
https://www.ft.com/content/67880a94-55c9-468c-a749-35463a08e6c5
Oil slides as Delta worries dent outlook for Asia demand
https://www.ft.com/content/ba4ab9a0-4e89-4979-b794-c7e5593724a6
DraftKings buys Golden Nugget Online Gaming in $1.56bn deal
https://www.ft.com/content/f857e397-adab-4b95-b308-caa59b8d2b49
Cryptocurrency exchanges target sport sponsorships
https://www.ft.com/content/a93e9ad5-31d6-4048-9ca8-2f38cc6c43f4?
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Our intern is Zoe Han. Additional help by Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Tuesday, August 10th. This is your FT news briefing. |
| 0:08.7 | Oil prices are sliding on fears about the spreading delta coronavirus variant, |
| 0:13.2 | and a leading player in online sports gambling is betting on growth with a one and a half |
| 0:18.3 | billion dollar acquisition. But first, the US Senate is set to approve a one trillion dollar |
| 0:23.8 | infrastructure package today. We'll find out how divided lawmakers got to this point. |
| 0:28.8 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:38.0 | The US Congress is about to put another trillion dollars of fiscal stimulus into the economy. |
| 0:43.6 | Today, the Senate is expected to pass President Joe Biden's infrastructure package. |
| 0:48.0 | It'll steer billions of dollars towards big projects like roads and bridges, |
| 0:52.3 | freight rail and public transportation. After months of debate, the bill is getting off the ground |
| 0:57.5 | because a surprising number of Republicans crossed the aisle. I spoke to the FTs |
| 1:02.4 | Lauren Fedor about why so many Republicans joined their Democratic colleagues. |
| 1:06.7 | There are a couple of reasons for that. The first, I think, is public opinion. These policies, |
| 1:12.1 | these investments are very, very popular with the American people. People see crumbling roads |
| 1:18.2 | and bridges, airports, trains in their communities, and they want to see them fixed. They want |
| 1:24.0 | to see them improved. So I would say that that's the number one thing. But we've also seen that |
| 1:29.1 | this is not just a bipartisan vote, but a bipartisan effort. So Republicans have been involved |
| 1:34.9 | through many stages of this process. Now, originally, the White House came out with a wish list that |
| 1:40.3 | was many times the size of this package. But the winning formula proved to be this small group, |
| 1:45.7 | which had five Democrats, five Republicans, they came together, they came up with a deal, |
| 1:51.2 | and then those five Republicans brought along several of their colleagues. |
| 1:56.2 | I guess it's still surprising, Lauren, because Republicans for so long when discussing this bill |
... |
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