Washington Weekend: Competing for Chips & Voting for Billions 8/5/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 5 August 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

President Biden is set to sign the Chips and Science Act, aimed to support US semiconductor manufacturing. Senator Maria Cantwell (D-WA) discusses the bipartisan effort to boost US competitiveness with China and other major chips producers. Also in Washington, Senator Kyrsten Sinema (D-AZ) has finally signed off on the Inflation Reduction Act, the Democrats’ reconciliation bill that includes hundreds of billions of dollars in spending on climate, health care initiatives. CNBC’s Ylan Mui reports that her support could cement the votes needed to pass the bill; the “vote-a-rama” starts this Saturday, so the Senate will be working through the weekend. The Biden administration has declared monkeypox a national health emergency, and former FDA Commissioner Dr. Scott Gottlieb answers questions about its spread, its virulence, and the health system’s path forward. Plus, Visa CEO Al Kelly has issued a statement on the MindGeek child pornography lawsuit, and Warner Bros. Discovery hosted its first earnings call since its merger. In this episode: Sen. Maria Cantwell, @SenatorCantwell Ylan Mui, @ylanmui Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:08.0	Two big moves in Washington.
0:10.0	For the life of me, cannot understand this.
0:13.8	The Democrats' latest deal, Arizona's Kirsten cinema, killing a chance to close a major
0:18.8	tax loophole for Wall Street, that will move the Giant Inflation Reduction Act forward.
0:23.7	I had great, I'd love Manchin and Cinema, and now I mean they're both dead to me, sort of kidding.
0:29.4	I'm kidding a little bit.
0:30.3	And the long-awaited Chips chips act finally heading to President
0:33.5	Biden's desk. Senator Maria Cantwell on the importance to the new economy.
0:37.8	Then I think Americans were like no no no this is as essential as wheat.
0:41.8	Monkey pox is now a U.S. health emergency,
0:45.0	former FDA head Scott Gottlie.
0:47.0	When doctors see patients presenting with unusual cases
0:50.0	of what they presume to be shingles,
0:52.0	where they presume to be herpes,les where they presumed to be herpes
0:53.7	they're now going to have to start testing for monkeypox as well.
0:56.8	And all the stories wrapping up a busy news week, Jobs, Visa in the hot seat,
1:01.7	with Joe Kernan and Andrew Ross Sorkin, the toast of Washington.
1:05.2	You love us equally.
1:06.4	I like the back and forth.
1:07.7	You do?
	...

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