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| Presented By Business Roundtable |
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| Axios Sneak Peek |
| By the Axios Politics team ·Mar 08, 2022 |
| Welcome back to Sneak. 📅 Join Axios' Neil Irwin and Alexi McCammond tomorrow at 12:30pm ET for a virtual event exploring the origins and impacts of the rising cost of living. Guests include White House Council of Economic Advisers member Heather Boushey and UC Berkeley professor Robert Reich. Register here. Smart Brevity™ count: 915 words ... 3.5 minutes. Edited by Glen Johnson. |
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| 1 big thing: Russia lesson sparks Asia concern |
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| Illustration: Shoshana Gordon/Axios |
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| While congressional leaders work to shore up support for $14 billion in aid to Ukraine, some lawmakers have sent a letter urging a fresh focus on China — and America's reliance on semiconductors from Asia, Axios' Hans Nichols and Andrew Solender report. Why it matters: International sanctions on Russia, and President Biden's announcement today banning the import of its oil, gas and coal, demonstrate how any country that's too reliant on one export — or import — can be brought to its economic knees by adversaries. - Senate Democrats say America needs to control its own supply lines.
In early February, the House passed a $335 billion bill — including $52 billion to bolster the semiconductors industry — with only one Republican voting "yea." - In a letter today, some 140 lawmakers, led by Sens. Mark Warner (D-Va.), John Cornyn (R-Texas) and Reps. Doris Matsui (D-Calif.) and Michael McCaul (R-Texas), urged congressional leaders to approve just the $52 billion for semiconductors on its own.
- They called on leaders to "immediately begin negotiations to allow votes in the House and Senate as soon as possible."
What they are saying: "But for Ukraine, we maybe would have gotten through at this point," Warner told Axios. "But Ukraine is one more reason why we need to make this investment." Keep reading. |
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| 2. Biden pummels "Putin's price hike" |
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| The Rough Rider looks on as President Biden discusses his ban of Russian energy imports. Photo: Win McNamee/Getty Images |
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| The president's announcement of a U.S. ban on Russian energy imports came loaded with two phrases he wants Americans to remember: "Putin's price hike" and "Putin's war." Why it matters: Already damaged by inflation and other repercussions of the COVID-19 economy, Biden is using this moment to redirect Americans' anger toward Russian President Vladimir Putin — and to try to insulate himself and the Democratic Party over crucial blame during this midterm year and beyond. Details: The U.S. president's short speech today included seven references to "Putin's war," one to "Putin's war machine," one to "Putin's aggression" and another to "Putin's assault." - It also included — notably — this line: "I'm going to do everything I can to minimize Putin's price hike here at home."
The big picture: The invasion of Ukraine is driving up already climbing gas prices ahead of midterm elections that could cost Democrats control of Congress. - How high they'll go — and what other literal and figurative costs Americans will face — are as unknowable as Putin's next moves.
- Even before the invasion, Republicans had made clear they'd try to blame Biden and Democrats for inflation and gas prices. Since it started, they've doubled down.
- The "Senate Republicans" account today tweeted a call for "energy independence now" and a link to a Wall Street Journal article with a photo of $7 a gallon gas in Los Angeles.
Keep reading. |
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| 3. Charted: Senate fundraising |
 Data: FEC; Chart: Baidi Wang/Axios Senate candidates in some of the most competitive states entered this election year with a running start from big fundraising totals in 2021, according to Federal Election Commission records reviewed by Axios' Sarah Mucha. The big picture: First and third place went to Sens. Raphael Warnock of Georgia and Mark Kelly of Arizona — two of the most-targeted Democrats. In between is Senate Majority Leader Chuck Schumer, who's been worried about a progressive challenger. Details: Schumer's tally doesn't include funds raised through his leadership PAC, which would generally be large. - Warnock's big numbers include runoff fundraising for the special election he won in January 2021, as well as fundraising for his re-election contest this November.
- Sen. Tim Scott of South Carolina, the chamber's only Black Republican lawmaker and mentioned as a potential presidential or vice presidential candidate, was the top recipient in his party.
- Michael Gibbons is one of the many primary contenders in Ohio's Senate race who's primarily self-funded. He donated $11.4 million to his own campaign.
What we're watching: Black lawmakers held three of the top 10 Senate fundraising spots — Warnock, Scott and Rep. Val Demings (D-Fla.). - She's seeking to topple Sen. Marco Rubio (R-Fla.).
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| A message from Business Roundtable |
| Billions of dollars in investments. Tens of thousands of American jobs |
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| That's how a competitive tax code benefits American workers, families and communities. A tax hike on U.S. businesses will undermine a strong U.S. economy and sustained growth. Now is not the time to go back to old ideas, old arguments and harmful fiscal policies. |
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| 4. Worthy of your time |
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| Sen. Lisa Murkowski (R-Alaska) is seen today after Senate luncheons in the Capitol. Photo: Tom Williams/CQ-Roll Call via Getty Images |
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| 📊 The president is seeing his poll numbers tick up in recent days, going from 41% approval last month to 45% this month in Politico/Morning Consult polling, and from 39% last week to 47% now in an NPR/PBS Marist poll, Axios' Andrew Solender writes in tonight's Sneak roundup. 💵 Senate Minority Leader Mitch McConnell said during a press conference the amount of humanitarian and military assistance funding to Ukraine that Congress plans to place in the annual budget bill now stands at $14 billion — up from a $10 billion request from the White House. 📜 Rep. Don Beyer (D-Va.) introduced legislation to create initiatives, including a commission and a grant program, to "support information and media literacy" and combat Russian disinformation, inspired by an anti-Russian propaganda program in schools in Finland. ⚕️Senate Majority Leader Chuck Schumer quipped during a floor speech that Sens. Ron Johnson (R-Wis.) and Rick Scott (R-Fla.) should create a "Hurting Working Families Caucus" after they expressed support for repealing the Affordable Care Act and requiring all Americans to pay income tax, respectively. 📱An alternative media landscape targeting conservatives is emerging in Colorado with diverse offerings that include content from former Trump adviser Steve Bannon and a gated social network, Axios Denver's John Frank writes for Sneak. |
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| 5. Pic du jour |
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| Photo: Anna Moneymaker/Getty Images |
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| FBI director Christopher Wray appeared with other national security leaders to discuss worldwide threats before the House Intelligence Committee. - Joining him (left to right) were Lt. Gen. Scott Berrier, the director of the Defense Intelligence Agency, Director of National Intelligence Avril Haines, CIA director William Burns and (obscured) director of the National Security Agency Gen. Paul Nakasone.
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| A message from Business Roundtable |
| Business leaders are creating opportunity for all Americans |
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| As major employers in every state, Business Roundtable CEOs are creating quality jobs with good wages, supporting the communities in which they operate and driving economic growth to build a better future for America. |
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| 📬 Thanks again for reading! As always, you can subscribe to Sneak or any of Axios' other free local and national newsletters through this link. |
 | It's called Smart Brevity®. Over 200 orgs use it — in a tool called Axios HQ — to drive productivity with clearer workplace communications. | | |
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