| | | | | | | Presented By HCA Healthcare | | | | Axios Sneak Peek | | By the Axios Politics team ·Sep 15, 2021 | | Welcome back to Sneak. Capitol Hill was riveted by testimony from four former gymnasts appearing in a different arena. 🚨Breaking: President Biden will host British Prime Minister Boris Johnson at the White House next week, Axios' Hans Nichols scooped tonight. 📅 Join Axios' Andrew Freedman and Ben Geman tomorrow at 12:30pm ET for a virtual event about the new industries and stakeholders propelling clean energy job options. Guests include Sen. Alex Padilla (D-Calif.) and executive director of BlueGreen Alliance Jason Walsh. Register. Smart Brevity™ count: 1,415 words ... 5.5 minutes. Edited by Glen Johnson. | | | | | | 1 big thing: Biden's muddled China policy |  | | | President Biden looks at Australia Prime Minister Scott Morrison as British Prime Minister Boris Johnson joins them in virtual announcement of a trilateral nuclear submarine agreement. Photo: Brendan Smialowski/AFP via Getty Images | | | | President Biden came into office with a plan for dealing with China that sounded great in theory but's failing in practice, Axios' Jonathan Swan and Zachary Basu write. Why it matters: The idea was to confront China aggressively on a range of issues — from trade abuses to human rights — while working cooperatively on areas of mutual interest, including climate change. A new plan to help Australia acquire nuclear submarines makes that both-ways approach even less realistic. - The subtext is hardly subtext: Despite declining to cite China by name, the announcement sends a strong signal about the U.S. commitment to countering China's naval activities in the Indo-Pacific region, and will undoubtedly draw backlash in Beijing.
- A senior administration official who briefed reporters ahead of the formal announcement was grilled about why they refused to state the obvious about China being at the center of the decision.
- The official responded curtly: "I have nothing further to add than what I've said. This is not aimed at any one country."
Biden has labeled his approach to China as "extreme competition," but the Chinese aren't buying it. - Under the president's theory, the Chinese would be willing to compartmentalize.
- China, the argument goes, would be willing to overlook America's criticisms of their state-sponsored hacking, genocide in Xinjiang and trade theft, and sit down with Biden's climate envoy, John Kerry, to hash out a deal on climate change — one of Biden's top international priorities.
But, but, but: Chinese officials have already made it abundantly clear they won't accept the theories. They humiliated Kerry when he visited China two weeks ago. - As Axios reported, President Xi Jinping's senior officials would only speak with Kerry by video call, sending a junior official to meet the former secretary of State in person.
- The same Chinese officials met with a Taliban delegation in person just weeks earlier.
- Biden's team has seemingly acknowledged it's not making progress with the Chinese. The president himself called Xi last Thursday night to see if leader-to-leader dialogue would break the impasse.
Keep reading. |     | | | | | | 2. Pence seeks $18 million war chest |  | | | Former Vice President Mike Pence speaks in Des Moines in July. Photo: Rachel Mummey/Bloomberg via Getty Images | | | | Mike Pence is positioning himself for a 2024 presidential run by aiming to raise a whopping $18 million this year, Axios' Lachlan Markay has learned. Why it matters: While polls show Donald Trump as an early Republican favorite, his former vice president also has been making moves to be a candidate. His group, Advancing American Freedom, is shaping up as a vehicle for testing the waters and building the infrastructure needed for a White House bid. Driving the news: The group is staffed by some of Pence's top allies and ex-aides, including former chief of staff Marc Short, political adviser Marty Obst and former senior Trump White House staffer Paul Teller. - Donors at a recent retreat in Jackson Hole, Wyoming, were asked to chip in a percentage of the target sum, the source said.
- AAF has also enlisted three fundraising firms to help build up its war chest, according to filings with state charity regulators.
- A source familiar with the group's operations told Axios it's aiming to raise $18 million during its first year — a huge sum for a new nonprofit group that doesn't offer its donors a tax break.
Between the lines: AAF has served as a post-government platform for Pence to pursue his brand of social conservative advocacy and promote his various media appearances. - Since the group launched in April, it's spent about $60,000 on digital ads promoting the Indiana Republican and asking for contributions.
- If Pence seriously eyes a 2024 run, AAF could provide a platform for pre-campaign activities such as polling and candidate travel. If he enters the race, it could pour a chunk of its funds into a supportive political group.
The big picture: A Pence run is looking like a stronger possibility as he attends political events in key presidential swing states. - He's also been fundraising for high-profile Republicans this year, including House Minority Leader Kevin McCarthy (R-Calif.), Virginia gubernatorial candidate Glenn Youngkin and Iowa Republican Rep. Randy Feenstra.
- AAF also is burnishing Pence's social conservative bona fides with a pair of briefs filed with the Supreme Court.
- One seeks to overturn Roe v. Wade and the other aims to strike down limits on state education funding for religious schools.
Keep reading. | | | | | | | | 3. White House fights for extra IRS funding |  | | | Illustration: Sarah Grillo/Axios | | | | The Biden administration is aggressively defending its plan to invest $80 billion in the IRS to bring in an estimated $700 billion in new revenue, a memo obtained by Hans shows. Why it matters: President Biden and his team view tax enforcement as one of the most politically palatable ways to help pay for their new spending plans, from universal preschool to free community college — especially in light of Republican criticism. - The memo shows the White House is coordinating its strategy with congressional allies and outside groups.
- Collectively, they seek to dispel what they call "several pernicious myths" about enhanced reporting requirements.
Between the lines: The memo reads: - "Fact: This proposal does not mandate reporting of individual transactions to the IRS. ... The president's proposal requires that banks report the most basic, high-level information on account inflows and outflows."
- While Rep. Richard Neal (D-Mass.), chairman of the House Ways and Means Committee, supports the administration's proposal, he didn't include any new bank reporting requirements in his initial bill.
- Conservative groups have seized on the plan by running ads against Democrats — and Republicans — claiming Biden plans to unleash an army of snooping IRS agents.
But, but, but: Simply giving the agency more money to hire more agents won't capture the amount of revenue the White House estimates is lost by Americans who underreport their earnings, known as the tax gap. - To close it, the Treasury Department needs new authorities, as well as cooperation from the banks.
- Information-sharing would help it gather general information about account irregularities, such as an account showing $10,000 in income but $1 million routinely flowing in and out.
- "Having this summary information will help flag for the IRS when high-income people under-report their income," the memo states.
The big picture: Democrats are increasingly divided about how much revenue they can actually raise to fund their new priorities. Keep reading. | | | | | | | | A message from HCA Healthcare | | How HCA Healthcare helps caregivers advance their careers | | |  | | | | HCA Healthcare invests in caregivers through education, technology, capital investments, infrastructure and more. Last year, 10,880 colleagues participated in HCA Healthcare's tuition reimbursement program, including 7,170 colleagues working towards a nursing degree. | | | | | | 4. The debt ceiling stare down |  | | | Illustration: Aïda Amer/Axios | | | | Congress is fast approaching its deadline to raise the debt ceiling or risk defaulting on the nation's debt, and, as of now, there's no serious plan to stave off what many members are calling the worst-case scenario, writes Axios' Alayna Treene. Why it matters: The U.S. has never defaulted on its debt. If Congress doesn't take "extraordinary measures" to finance the government, it would "likely cause irreparable damage to the U.S. economy and global financial markets," Treasury Secretary Janet Yellen warned last week. Driving the news: Democrats are banking on at least 10 Republicans to eventually give in and vote for a debt increase. - But Republicans insist they're not bluffing and have remained united in their insistence that if the U.S. defaults on its debt, the blood will be on Democrats' hands.
- "It's their obligation. They should step up. It's hard being in the majority. They are the ones who will raise the debt limit," Senate Minority Leader Mitch McConnell (R-Ky.) told Punchbowl News.
What we're hearing: Axios spoke with more than a dozen senators this week about how they think Congress should handle the stalemate. - Democrats largely told us they think Republicans are willing to get as close to the deadline as possible but then will fold after banks, lobbyists and donors call them.
- "Oh come on, they're not gonna let us default," said Sen. Chris Coons (D-Del.). He said he and his Democratic colleagues think the most likely scenario is Republicans "fuss, fuss, fuss, then do it" in a continuing resolution.
- Some Republicans, though, said they're willing to let a default happen and blame it on Democrats.
- "It's going to be entirely determined by the Democrats," said Sen. Susan Collins (R-Maine), one of the few moderate Republicans usually willing to break with her party. "They are the ones whose actions are making the increase in the debt limit necessary."
Keep reading. Go deeper: "Democrats plot debt-limit options" | | | | | | | | 5. Pic du jour: Teammates, still |  | | | Photo: Chip Somodevilla/Getty Images | | | | Olympians Aly Raisman (left) and McKayla Maroney arrive for a news conference in the Russell Senate Office Building. - They had just joined Simone Biles and Maggie Nichols in testifying before the Senate Judiciary Committee about abuse the champion gymnasts experienced from team doctor Larry Nassar.
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