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Presented by PhRMA: POLITICO's must-read briefing on what's driving the afternoon in Washington. | | | | |  | | By Eugene Daniels and Garrett Ross | | | | 
President Joe Biden speaks at the White House on Tuesday, Aug. 9. | Evan Vucci/AP Photo | As President JOE BIDEN gears up to celebrate the passage of his signature Inflation Reduction Act this afternoon, it comes against the backdrop of the latest inflationary reading from the Labor Department, which dropped this morning.
- The topline finding: “Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices,” CNBC’s Jeff Cox writes.
- The overall figures: “The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy costs, CPI rose 0.6% from July and 6.3% from the same month in 2021.”
- The detailed numbers: “Energy prices fell 5% for the month, led by a 10.6% slide in the gasoline index. However, those declines were offset by increases elsewhere. The food index increased 0.8% in August and shelter costs, which make up about one-third of the weighting in the CPI, jumped 0.7% and are up 6.2% from a year ago.”
- The expectations: “Economists had been expecting headline inflation to fall 0.1% and core to increase 0.3%, according to Dow Jones estimates. The respective year-over-year forecasts were for 8% and 6% gains.”
Further reading: WSJ: “Inflation Infighting: Honey, Do We Really Need Those Pine Nuts?” … Bloomberg : “U.S. Inflation Tops Forecasts, Cementing Odds of Big Fed Hike” … POLITICO: “Get ready for a food fight: High grocery costs are here to stay” MEANWHILE, AT THE WHITE HOUSE — Playbook got a sneak peek at the preparations underway for this afternoon’s IRA celebration ceremony. Here’s what to expect:
- Biden will tout the IRA as “a win for the middle class,” according to a White House official. He’ll also knock Republicans for not supporting a $35-a-month cap on the price of insulin — a provision which made it into the final legislation for Medicare Part D beneficiaries.
- Climate activist and singer-songwriter JAMES TAYLOR will perform a few songs.
- Biden will be introduced by LOVETTE JACOBS, an electrical apprentice from Boston, who met the president (virtually) on the campaign trail after losing her job during the Covid-19 downturn. In prepared remarks, Jacobs will praise Biden for making good on a promise he made to her on that call: essentially, to bring back jobs like hers.
The gist of the message, per a White House statement this morning: “It will take more time and resolve to bring inflation down, which is why we passed the Inflation Reduction Act to lower the cost of healthcare, prescription drugs and energy. And my economic plan is showing that, as we bring prices down, we are creating good paying jobs and bringing manufacturing back to America.”
| | | | A message from PhRMA: According to new findings, insured Americans favor policy solutions that improve their ability to navigate and access their care while lowering their out-of-pocket costs – by tackling the barriers introduced by insurers and middlemen like PBMs. Read more. | | | PRE-PRIMARY READING — We’ve made it: Today marks the last slate of primaries ahead of the general elections in November. Voters in New Hampshire and Rhode Island will close out the primary calendar tonight — with the marquee race coming out of New Hampshire, in the GOP primary to take on Democratic Sen. MAGGIE HASSAN in November. — “5 Races To Watch In New Hampshire And Rhode Island,” by FiveThirtyEight’s Geoffrey Skelley HOT DOC — Sen. LINDSEY GRAHAM (R-S.C.) released the text of his much-anticipated national abortion ban legislation. The bill would ban abortion after 15 weeks of pregnancy (down from 20 weeks in previous versions of the bill), and provides exemptions for rape, incest and cases “necessary to save the life of a pregnant woman.” The bill also notably “leaves in place state laws that are more protective of unborn life.” Read the bill here … More from our colleagues At a news conference just after noon , Graham said Democrats’ efforts to pass national abortion protections motivated him to introduce today’s bill, which he said is “fairly consistent with the rest of the world.” Graham said if Republicans retake the House in the midterms, “I can assure you we'll have a vote” on the bill. — Worth noting: After the Supreme Court’s decision to overturn Roe v. Wade, Graham said the Dobbs ruling was a “long overdue constitutional correction allowing for elected officials in the states to decide issues of life.” Today, Graham struck a somewhat different position on the role of the states: “Abortion is not banned in America. It's left up to elected officials to define the issue. … And we have the ability in Washington to speak on this issue if we choose. I have chosen to speak.” — The White House response: “Today, Senator Graham introduced a national ban on abortion which would strip away women’s rights in all 50 states. This bill is wildly out of step with what Americans believe,” press secretary KARINE JEAN-PIERRE said in a statement. — FWIW: A WSJ poll taken last month found that “57% opposed a ban at 15 weeks with an exception only for the health of the mother.” Related read: “Republicans tried to sidestep the issue of abortion. Now they're seeking a reset,” by NBC’s Jonathan Allen, Marc Caputo and Allan Smith Good Tuesday afternoon.
| | | | A WOMEN RULE CONVERSATION ON LEADING FROM THE GROUND UP: Join POLITICO’s Women Rule on Sept. 15 for conversations focused on creating and leading sustainable, healthy and inclusive communities. The program will feature a Member Exchange panel followed by a keynote discussion exploring the most pressing issues facing women in their communities and women in leadership roles who are best positioned to solve these problems. REGISTER HERE. | | | | | CONGRESS TAKING STOCK — NYT’s Kate Kelly, Adam Playford and Alicia Parlapiano have a deep-dive look at stock trading among members of Congress: “From 2019 to 2021, 183 current senators or representatives reported a trade of a stock or another financial asset by themselves or an immediate family member. More than half of them sat on congressional committees that potentially gave them insight into the companies whose shares they reported buying or selling, an analysis by The New York Times has found.” “In some cases, the transactions appear to be routine or to have only a tangential connection to any influence the lawmaker might have had on an issue. In others, the trades were conducted by trusts or brokers who, the lawmakers say, were operating without any instructions or input from them. But many instances show how legislative work and investment decisions can overlap in ways that at a minimum can leave the appearance of a conflict and that sometimes form a troubling pattern — even if they technically fall within the rules.” THE AGE-OLD QUESTION — Insider is up with a big new project titled “Red, White, and Gray,” which “explores the costs, benefits, and dangers of life in a democracy helmed by those of advanced age, where issues of profound importance to the nation's youth and future — technology, civil rights, energy, the environment — are largely in the hands of those whose primes have passed.” The package posted today includes six stories, and the series is planning to publish new stories until early October.
- The mainbar: “The oldest government in history,” by Annie Fu, Walt Hickey, and Shayanne Gal: “America’s gerontocracy is disconnecting Congress from the rest of the country, an Insider data analysis reveals.”
WHISTLE WHILE YOU WORK — “Twitter whistleblower to Congress: Your data is at risk too,” by Rebecca Kern and Eric Geller: “It’s ‘not far-fetched to say that employees inside the company could take over the accounts of all of the senators in this room, ’ PEITER ‘MUDGE’ ZATKO testified to the Senate Judiciary Committee during the latest in a long round of hearings focused on Silicon Valley’s alleged failings.” THE WHITE HOUSE UNDER THE INFLUENCE — The Washington Examiner’s Katherine Doyle digs into lobbying records and finds that VP KAMALA HARRIS’ office isn’t a particularly popular destination among the influence industry. “About half as many companies and outside groups have hired lobbyists to influence Harris’s office during her first two years compared with her predecessor, MIKE PENCE . Among those lobbying Harris and her aides were representatives of drug companies, technology firms, and energy businesses, according to the records.” 2024 WATCH — First lady JILL BIDEN sat down for an interview that aired this morning on NBC’s “Today” show, where she was asked whether she and her husband have discussed a 2024 reelection run: “Not yet. We've been a little bit too busy. So, not yet. But, I'm sure it will be a discussion.” On whether they’re ready for a second campaign: “It is taxing, but look at all Joe has done. … So I think he just needs to keep going.” Watch the interview
| | | | A message from PhRMA:   New research examines how insured Americans navigate unclear and unaffordable insurance coverage. | | | ALL POLITICS AFTERNOON READ — As he runs his reelection campaign, Florida Gov. RON DeSANTIS has tiptoed up to the line of revealing 2024 presidential ambitions — hugging Trump while also pitching himself as the next in line. “In an extensive examination of his life and record — across more than 100 interviews with aides, allies, antagonists and peers who detailed several previously unreported episodes spanning his decade in elected office — the most consistent appraisal was that DeSantis, who turns 44 this month, believes his raw instincts are unrivaled and that he may well be correct,” NYT Magazine’s Matt Flegenheimer writes. HISTORY IN THE MAKING — A record number of Black candidates are running in Senate and gubernatorial races this fall, WaPo’s Tim Craig writes. “Since Reconstruction, voters have elected just seven Black senators and two Black governors. This year, 16 Black candidates — 13 Democrats and three Republicans — are major party nominees, from Florida and across the Deep South to traditional Midwestern battlegrounds like Wisconsin.” On the trail: “Most of them have not made explicit appeals based on race in their campaigns, but many of those running as Democrats have embraced issues popular with minority voters and with the liberal base more generally, including voting rights and student loan relief, as well as access to abortion, which has emerged as a key issue in this year’s midterm elections.” BEYOND THE BELTWAY WHAT THE BIDENS ARE READING — “Biden’s Delaware vacation home faces ‘extreme’ flood risk as climate change leads to rising seas,” by CNN’s Casey Tolan CHEMICAL REACTION — So-called “forever chemicals,” known as PFAS, are linked to a variety of health hazards, including cancer, and are contaminating much of the nation’s drinking water. “Now, as state lawmakers and federal regulators get serious about removing them, scores of governments and water suppliers are in pitched court battles over who is on the hook for hundreds of billions of dollars in damage — the companies that created the chemicals or the customers who are drinking them,” Ry Rivard and Jordan Wolman report. WAR IN UKRAINE PUMPING THE BRAKES — “U.S. leaders avoid victory dance in Ukraine combat advances,” AP ON THE GROUND — “‘We prayed to be liberated’: Inside a city recaptured by Ukraine after months of Russian occupation,” by CNN’s Rebecca Wright, Sam Kiley, Olha Konovalova and Peter Rudden
| | | | SUBSCRIBE TO POWER SWITCH: The energy landscape is profoundly transforming. Power Switch is a daily newsletter that unlocks the most important stories driving the energy sector and the political forces shaping critical decisions about your energy future, from production to storage, distribution to consumption. Don’t miss out on Power Switch, your guide to the politics of energy transformation in America and around the world. SUBSCRIBE TODAY. | | | | | AMERICA AND THE WORLD NUKE NEGOTIATIONS — As negotiators try to hammer out a retooled Iran nuclear deal, officials in the U.S. and Europe are “increasingly gloomy” about getting something official on the books before the midterms this fall, WSJ’s Laurence Norman writes. “U.S. officials say no decision has been taken by the administration to shelve the diplomatic effort, but a tightening political calendar at home leaves little time to reach a final agreement.” Secretary of State ANTONY BLINKEN: “What we’ve seen over the last week or so … is clearly a step backward and makes prospects for an agreement in the near term, I would say, unlikely. … I can’t give you a timeline except to say, again, that Iran seems either unwilling or unable to do what is necessary to reach an agreement.” DANCE OF THE SUPERPOWERS — “This Might Not Be a Cold War, but It Feels Like One,” news analysis by NYT’s Jane Perlez — Related read: “Challenges for Russia and China Test a ‘No-Limits’ Friendship,” by NYT’s Keith Bradsher, Anton Troianovski and Jane Perlez PLAYBOOKERS TRANSITIONS — Max Seltzer has joined the Senate Commerce Committee Dems as a professional staff member focused on aviation. He previously was a senior associate at ACG Advocacy. … Douglas Farrar is joining the Federal Trade Commission as the director of public affairs. He was most recently VP of comms and strategy at the Carnegie Endowment for International Peace. WELCOME TO THE WORLD — Alexandra Lescroart, enterprise partnerships manager for Google, and Jason McMahon, professional staff member with the Senate Appropriations Committee welcomed Oliver James McMahon on Sept. 10. Pic Correction: Monday’s Playbook PM misstated the results of the latest Suffolk/USA Today poll in the Ohio Senate race. Tim Ryan leads J.D. Vance, 47% to 46%.
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