Tuesday, January 11, 2022

🤫 Biden's dead end

Plus: Targeting kleptocracy | Tuesday, January 11, 2022
 
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Axios Sneak Peek
By the Axios Politics team ·Jan 11, 2022

Welcome back to Sneak. The president traveled to Georgia to push for preserving voter rights.

Smart Brevity™ count: 968 words ... 3.5 minutes. Edited by Glen Johnson.

 
 
1 big thing: Biden's dead end
President Biden is seen through the screen of a TelePrompTer as he speaks in Georgia on Tuesday.

President Biden is seen through a TelePrompTer screen today as he calls for preserving voting rights. Photo: Jim Watson/AFP via Getty Images

 

Voting reform looks as unlikely this year as Build Back Better:

  • Although President Biden is now championing voting protection as the most pressing domestic issue, top Democratic lawmakers see little path to passage of anything like what the party's base is demanding.

Why it matters: As midterm campaigning ramps up, Biden's biggest accomplishments could well be in his rear-view mirror, Axios' Alayna Treene writes.

  • "All the Democrats in the Senate are anxious about delivering on our promises," Sen. Elizabeth Warren (D-Mass.) told Axios. "We know what's at stake. And we're working hard to try to find a path to get there. But it's hard."
  • "It's a lot of hope, not a lot of detail at this moment," Rep. Jamaal Bowman (D-N.Y.) told Axios' Andrew Solender.
  • "Frustration, in Washington, D.C.?" Sen. Mark Kelly (D-Ariz.) sarcastically said when asked about Democrats' strategy. "I've been here about 14 months now. The U.S. Senate — the organization — doesn't run like anything else I've ever seen before."
  • Sen. Bernie Sanders (I-Vt.) told the Guardian "it's absolutely important that we do a major course correction."
  • "People can understand that you sometimes don't have the votes. But they can't understand why we haven't brought up important legislation that 70% or 80% of the American people support," Sanders said.

What they're saying: White House spokesman Andrew Bates told Axios: "The president's leadership just delivered the best year for job creation in American history and reduced the unemployment rate to 3.9%."

  • "He's fighting to protect the most American right — the vote — and the rule of law against the worst threat to the integrity of our elections since the Civil War. ... Like he said today, 'Keep the faith.'"

Keep reading.

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2. First look: White House view on inflation
A chart shows inflation projections.

Photo: Courtesy of the White House

 

The White House is bracing for another bad report tomorrow on inflation — but now expects it to slow down by the end of the year, administration officials tell Axios' Hans Nichols.

Why it matters: The Biden administration had been labeling price hikes as "transitory." By publicly warning the Consumer Price Index December reading shows inflation will linger through 2022, officials are trying to temper public expectations and minimize the bad-news blow.

  • They also want to put U.S. inflation, which economists forecast will be 7% for the year in the report, into the context of surging global prices.
  • Eurozone inflation increased to an all-time high of 5% in December.
  • "We expect the print to be firm, as we have seen in the past few months," Michael Pyle, the chief economic adviser to Vice President Kamala Harris, told Axios. "But we expect the trend lines, as we roll into 2022, to turn toward deceleration."

Between the lines: The White House's goal is to focus attention on the trajectory of inflation, rather than a single percentage.

  • However, even based on those projections, voters would head to the polls for the midterm elections with inflation hitting above 4% for most of the year.

Keep reading.

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3. First Look: Dem data startup Civitech raises $10M
An illustration shows a donkey holding a $100 bill in its jaws.

Illustration: Sarah Grillo/Axios

 

Civitech, a public benefit corporation building data tools for progressive candidates and causes, is raising over $10 million in a series A funding round led by Higher Ground Labs, an investment group backing progressive campaign tech companies.

Why it matters: The investment signals a renewed focus on down-ballot data and technology to help Democrats recruit local candidates ahead of this fall's midterms. The round values Civitech at $50 million, executives tell Sara Fischer, author of the weekly Axios Media Trends.

Catch up quick: Civitech provides data, tools and technology to thousands of down-ballot progressive campaigns.

Details: Higher Ground Labs led the new round, with participation from investment firms Scout Ventures, Gaingels and other investors.

  • Civitech will use the new funds to scale its product, marketing and engineering teams, CEO and co-founder Jeremy Smith said.

Keep reading.

Go deeper: "Civitech acquires data and tech from Alloy"

✍️ Subscribe: Get Axios Media Trends delivered free to your inbox each Tuesday through this link.

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4. Anti-corruption alliance targets "uniting force of dictators"
Illustration of a stack of money as the bait in a bear trap.

Illustration: Aïda Amer/Axios

 

U.S. and European lawmakers gathered on Capitol Hill today for the inaugural meeting of the Inter-Parliamentary Alliance against Kleptocracy, whose objective is to harmonize the Western world's approach to countering corruption.

Why it matters: Members of the cross-border, cross-party coalition view corruption as "the uniting force of dictators" — a systemic threat undermining trust in democracy, and siphoning trillions of dollars in stolen funds from the global financial system, Axios' Zachary Basu reports.

  • "To me, the transnational threats today have moved from an ideological communism to a crony capitalist threat," Rep. Joe Wilson (R-S.C.) told a small group of reporters after the IPAK meeting.
  • "The bad guys hate it when we get together," said Rep. Tom Malinowski (D-N.J.). "They're much more threatened when United States, European Union and our democratic allies around the world speak in a single voice."

What's happening: "In a number of spots around the world, this combination of attacks on fundamental freedoms and democracy — combined with stealing citizens' money — is getting more severe," said Daniel Freund, a German member of the European Parliament.

"This is not just a foreign problem that's happening in faraway countries," Freund said.

  • An increasingly authoritarian government in Hungary is using EU funds to entrench its power and enrich its elites.
  • London has become a black hole for wealth plundered by the world's oligarchs, including those close to Russia President Vladimir Putin.
  • U.S. real estate, meanwhile, is the world's No. 1 destination for money laundering.

Keep reading.

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5. Pics du jour
Family members are seen looking on as President Biden and Vice President Kamala Harris pay their respects at the tomb for Martin Luther King Jr. and Coretta Scott King.

Photos: Jim Watson/AFP via Getty Images

 

President Biden and Vice President Kamala Harris honored Martin Luther King Jr. — and the late Coretta Scott King — during their visit to Atlanta to speak about preserving voting rights.

  • They were greeted at Ebenezer Baptist Church by Sen. Raphael Warnock (D-Ga.), who remains senior pastor of King's former congregation.
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