Plus: Top 10 Halloween costumes | Tuesday, October 26, 2021
| | | | | | | Presented By American Edge Project | | | | Axios PM | | By Mike Allen ·Oct 26, 2021 | | Good afternoon: Today's PM — edited by Justin Green — is 389 words, a 1.5-minute read. - 🚨Breaking: The White House is telling lawmakers that the climate portion of President Biden's roughly $2 trillion social spending plan will likely cost more than $500 billion, Axios' Alayna Treene scoops.
📲 Join Axios' Erica Pandey tomorrow at 12:30pm ET for a virtual event on the keys to breaking down traditional barriers in education. Register here. | | | | | | 1 big thing: New sticker shock |  | | | Illustration: Aïda Amer/Axios | | | | Expect holiday bargains to be sparse this year, as retailers revel in the "pricing power" of short supply and heavy demand. The big picture: "For retailers, the newfound pricing power — after years of rampant discounting and deflation — is boosting profits at a time when sales are still recovering from the pandemic," The Journal notes. - "[C]onsumers should expect to pay closer to full price on a range of products this holiday season, including on Nike sneakers, Coach handbags and Ralph Lauren Polo shirts."
Reality check: Smaller retailers — who can't manage their own shipping networks and logistics — aren't reaping the same rewards, AP notes. The small-business horror show includes: - Vendors not honoring delivery guarantees.
- Shipping prices from China up 400% since last year.
- Wait times for ocean freight up 45%.
|     | | | | | | 2. La Niña winter looms |  Data: NOAA; Map: Kavya Beheraj/Axios A second consecutive year of La Niña conditions favors a drier-than-average winter for much of the Southwest. - Foreshadowing: The ongoing atmospheric river event is delivering far less rain to Los Angeles and San Diego compared to San Francisco, Axios' Andrew Freedman reports.
| | | | | | | | A message from American Edge Project | | There's virtually no constituency for anti-competitive legislation | | |  | | | | Only 14% of voters support recent efforts in Congress to advance bills that would hurt America's ability to compete technologically. The reason: Voters believe it would harm the economy, national security and small businesses. See the new survey released by Ipsos and AEP. | | | | | | 3. Too big to cover alone |  | | | Illustration: Annelise Capossela/Axios | | | | News outlets are increasingly willing to work together on big stories, Axios' Sara Fischer and Bethany Allen-Ebrahimian report. - That includes the Facebook Consortium — the roughly two dozen news outlets who agreed to hold stories based on leaked materials from whistleblower Frances Haugen.
- The group was formed quickly and had to set its own publishing terms, which were hard to manage in real time.
This results in a blizzard of different headlines from the same raw material. | | | | | | | | 4. Top 10 Halloween costumes | | Illustration: Aïda Amer/Axios 10 most popular Halloween costumes this year, via Google's fun FrightGeist tracker (tip of the cape to USA Today): - Witch
- Rabbit
- Dinosaur
- Spider-Man
- Cruella de Vil
- Fairy
- Harley Quinn
- Cowboy
- Clown
- Chucky
Full list. | | | | | | | | A message from American Edge Project | | Here's what frontline district voters think about tech | | |  | | | | Poll results make it clear that policymakers who are pushing misguided tech regulation are out of touch with voters. What this means: Elected officials should focus on the issues that are top-of-mind for American voters instead of prioritizing bills to break up U.S. tech companies. Learn more. | | |  | | It'll help you deliver employee communications more effectively. | | | | | | Axios thanks our partners for supporting our newsletters. If you're interested in advertising, learn more here.
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