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| Presented By Facebook |
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| Axios AM |
| By Mike Allen · Aug 17, 2022 |
| 🐪 Happy Wednesday. Smart Brevity™ count: 1,118 words ... 4½ mins. Edited by Noah Bressner. ⚖️ Situational awareness: Prominent defense lawyers are telling former President Trump "no," putting him in a bind as he faces potential criminal exposure from his dispute with the National Archives, the WashPost reports. |
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| 1 big thing: Battery Belt reshapes heartland |
 Data: Center for Automotive Research. Map: Jared Whalen/Axios The climate bill President Biden signed yesterday will open up tens of billions of dollars in subsidies for high-tech electric-vehicle plants across the South and the Midwest. - Why it matters: The package is a major economic jolt for a big swath of the country — being called the new Battery Belt — where manufacturers are building lots of electric-vehicle-related factories, Axios transportation correspondent Joann Muller writes from Detroit.
💨 Catch up quick: The auto industry poured billions into EV and battery manufacturing facilities across North America over the last couple of years. - Now, automakers and battery suppliers will be eligible for billions in federal loans and tax credits to offset those costs and spur additional investment.
What's happening: Automakers' scramble to meet domestic-content requirements for EVs will fuel a rapid build-out of manufacturing capacity for electric vehicles and batteries, and their components. - As the N.Y. Times put it in a story from Georgia this weekend, "In the near future, the so-called Rust Belt, along with the Deep South, could become the Battery Belt."
👀 On the map above, you can see the sprawling battery footprint being assembled by Tesla, Ford, GM and more. |
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| 2. ✒️ Biden's history-book day |
| President Biden in the State Dining Room yesterday. Photo: Mandel Ngan/AFP via Getty Images "This bill is the biggest step forward on climate ever — ever," President Biden said as he signed Democrats' climate, health care and tax bill. - "Folks, the Inflation Reduction Act does so many things that, for so many years, so many of us have fought to make happen."
Why it matters: The package, while scaled back from his original Build Back Better ambitions, gives Biden and his party a historic achievement that caps an unexpected summer spurt of White House wins. - 🥊 Former President Obama tweeted: "This is a BFD."
Sen. Joe Manchin speaks to reporters outside the West Wing yesterday after the signing ceremony. Photo: Andrew Harnik/AP What's inside: The Inflation Reduction Act ... - Invests roughly $370 billion into initiatives to promote clean energy and reduce greenhouse gas emissions.
- Increases health-care spending by $98 billion.
- Imposes a 15% minimum tax on corporations that earn more than $1 billion in annual profits.
- Allows Medicare to negotiate some prescription drug prices with pharmaceutical companies.
Go deeper: More bill highlights ... EV tax credits. |
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| 3. 🗳️ Liz Cheney plans to go national |
| Photo: David Stubbs/Reuters Allies of Rep. Liz Cheney (R-Wyo.) tell me that after last night's primary loss, they expect her to start a super PAC — which would attract lots of wealthy, anti-Trump Republican donors. - Why it matters: Forming a national group would signal a run in the '24 GOP primaries, giving a real voice to anti-Trump Republicans.
It sure looked like a presidential-campaign stage (above) when Cheney — vice chair of the House Jan. 6 committee — conceded last night in Jackson, Wyo. She immediately teased a '24 presidential run. - "[O]ur work is far from over," she began.
"The great and original champion of our party, Abraham Lincoln, was defeated in elections for the Senate and the House before he won the most important election of all," she added. - "Lincoln ultimately prevailed, he saved our Union and he defined our obligation as Americans for all of history."
Harriet Hageman speaks in Cheyenne last night. Photo: David Williams/Bloomberg via Getty Images Cheney lost, 66% to 29%, to Trump-endorsed Harriet Hageman, a ranching industry attorney who finished third in a 2018 bid for the GOP gubernatorial nomination. - "Two years ago," the third-term congresswoman said, "I won this primary with 73 percent of the vote. I could easily have done the same again. The path was clear, but it would have required that I go along with President Trump's lie about the 2020 election. ... That was a path I could not and would not take."
🔭 Zoom out: Cheney is the fourth Republican to lose renomination among the 10 who voted for former President Trump's impeachment. - Four are retiring. Reps. Dan Newhouse (Wash.) and David Valadao (Calif.) won their primaries. Valadao faces a highly competitive general election.
Go deeper: "How Team Trump systematically snuffed out Liz Cheney's reign in Congress" (Politico). ⚡ In Alaska, Republican Sarah Palin advanced to the November general election in the race for the state's only House seat. Get the latest. |
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| A message from Facebook |
| Facebook is taking action to keep its platform safe |
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| Over 40 million people use Facebook Privacy Checkup each month. That's nearly 60 times the population of Washington, D.C. That's just one example of the work we're doing to create safer connections. Learn more about our work ahead. |
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| 4. 🔮 1,000 words: Supersonic future |
| Boom's supersonic Overture. Photo: Boom Supersonic via AP American Airlines made a non-refundable deposit on 20 supersonic jets, with an option for 40 more. The plane debuts in 2029, with tickets costing $4,000-$5,000 to fly from New York to London in 3½ hours. - American becomes the second U.S. customer of Denver-based Boom Supersonic, after a similar announcement last year from United Airlines for 15 jets, AP reports.
Boom says the plane will have a top speed of 1.7 times the speed of sound (1,300 mph), and will carry 65-80 passengers. - The plane is about twice the speed of today's fastest commercial aircraft.
Go deeper on Boom's plane. |
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| 5. 🧠 Poll: What we REALLY think |
 Data: Populace. Chart: Axios Visuals "Self-silencing" — people saying what they think others want to hear rather than what truly feel — is skewing our understanding of how Americans really feel about abortion, COVID, schools and other hot-button issues, Axios' Margaret Talev and Stef Kight write from a new study. - Why it matters: "When we're misreading what we all think, it actually causes false polarization," said Todd Rose, co-founder and president of Populace, the Massachusetts-based firm that did the study.
Keep reading. |
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| 6. 🐦 Musk double-header |
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| Via Twitter |
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| ⚽ A joke: Elon Musk tweeted last night: "I'm buying Manchester United ur welcome." - He followed up 4½ hours later: "this is a long-running joke on Twitter. I'm not buying any sports teams. ... Although, if it were any team, it would be Man U. They were my fav team as a kid."
💰 Not a joke: The Tesla CEO attended a donor event hosted by House Republican Leader Kevin McCarthy yesterday in Teton Lodge, Wyo., while Rep. Liz Cheney was losing her primary for the state's only House seat, per Bloomberg. - McCarthy didn't comment. Tesla didn't respond to Bloomberg.
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| 7. 🏠 Charted: House-price record |
 Data: National Association of Realtors. Chart: Will Chase/Axios The median single-family existing-home price rose to a record $413,500 in the second quarter, the National Association of Realtors said. - Prices rose from a year ago in 184 of the 185 metro areas tracked — every one except Trenton, N.J., where median prices fell 0.7%, The Wall Street Journal reports.
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| 8. 🗽 1 for the road: No place to park |
| Baby Brasa restaurant in Manhattan this week. Photo: Jeenah Moon/Bloomberg via Getty Images With some New Yorkers shunning the subway in the COVID era, one measure of car ownership in the city surged 224% last year, Bloomberg reports. - Why it matters: "A spike in car ownership, dining sheds and the comeback of alternate-side parking are making it tougher than ever to find spaces."
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