Archive for the ‘Progressives’ Category

The last of the Progressives, Krishen Khanna told stories of a newly independent India – The Hindu

Artist Krishen Khanna has a new project. He takes out his phone to show me the beautiful sculpture being created in England based on his designs. Its inspired by a particular famous incident in the Ramayana, which he insists has been portrayed badly by painters and not at all by sculptors.

The sculpture transcends time and space to simultaneously evoke Persian, Welsh and Indian mythology. The fact that I see it on the day before Dussehra isnt lost on me, nor is the fact that though we celebrate Rams defeat of Ravana, a lot of creatures fought him. It was an army of animals, who supposedly had no agency or power, who won the war for Ram.

Khanna points to the painting hes working on in his drawing room. Its a black and white rendition of a bandwallah on a cycle. My son says I should colour it but its meant to be the bandwallah going home at night. Theres no need for colour, is there?

Khanna has an extraordinary body of work that spans pre- and post-Independence India. He first copied the Last Supper at the age of seven, which means hes been an artist for 89 years. I cant live without them, he says, as I ask about the Husains and Padamsees on his walls. When I look at him for clarification, he replies that he cant live without painting. But painting and his peers among the Progressive Artists Group (PAG) are equally compelling for Khanna. He has always been inextricably bound with PAG, a group of artists that included M.F. Husain, F.N. Souza, S.H. Raza, K.H. Ara, Ram Kumar, Bal Chhabda, Akbar Padamsee and Tyeb Mehta.

Each one of us did very different work. There was no dictate on the types of painting. We were all poets and existed in bonhomie. For example, Husain had an exhibition in Tokyo and he was short of paintings. Chhabda sent him his own collection of Husains works. When Husain came back and offered him the money that the paintings had sold for, he refused, saying that hed given Husain the paintings. They could have considered me an outsider, Khanna muses. A bada sahib. But they were big hearted and honest. Each one was an extraordinary person. Now Im lonely.

The reason Khanna, unlike the rest of the Progressives, could be considered a bada sahib was because he was a banker for 12 years before he resigned to become a painter. He came from a family of educators; went to study at the Imperial Service College in Windsor on a scholarship at the age of 13 and came back to Multan four years later because World War II broke out and he was evacuated. His family moved to India in 1947 and by 1948 he secured a job with Grindlays Bank and moved to Bombay where he met the Progressives. He was transferred to Madras and Kanpur by the bank while he continued painting on the side and only took the plunge in 1961 and quit Grindlays. He left the farewell party his bank colleagues threw for him to head straight to a party his artist friends threw in celebration. And from there he flew into a new life, first on a fellowship to the U.S. and then into a small house with his extended family in a resettlement area in Delhi called Bhogal as a full-time artist.

But he, like the rest of the Progressives, was not only creating a new international idiom in painting that contrasted with the more figurative Bengal masters in these heady days. They, especially Khanna and Husain, were also telling stories of the newly independent India as it was buffeted by war, penury, scarcity and migrations. In the early days of their friendship, Husain and Khanna would sketch refugee families at the New Delhi railway station. Bhogals wandering population and its proximity to the crowded tombs of Nizamuddin helped Khanna use it as his personal observatory of the changing character of Delhi and to tell stories of displaced refugees and humanity on the streets: the men in dhabhas; exhausted, sleeping people; labourers crowded into the back of trucks; the bandwallahs in their gaudy uniforms that served as reminders of British era princes. He also used figures from Hindu and Christian myths to reflect the turmoil of the 1970s: the midnight arrests, censorship of the press; the repression and hostility of state machinery. The differing styles of the Progressives can actually be compared by their immensely different treatment of the same biblical allegories. Khannas Christ became one of those itinerant pilgrims found around Nizamuddin even now, reflecting resistance against persecution by an oppressive system.

Khannas political lens is probably at its clearest in a place so public that no one notices it: the lobby of the ITC Maurya Sheraton hotel in Delhi where he both painted the dome over four years, and was involved in curating a collection of some of the greatest art of India. While the hotel itself was modelled on the ancient Buddhist Chaitya cave temples in Karla, Maharashtra, the heart of the hotel is Khannas glowing mural called the Great Procession in the lobby. In the artists words, it depicts the great procession that is India and Indian life. The scenes portrayed are typically Indian, including tea-sellers and old women gossiping. There is even a portrait of Khushwant Singh, an old friend of Khannas.

Fusing past and present

Khanna uses the three-tiered curved surface to fuse scenes of the Mauryan past and the present day. As Khanna says, [it]...uses ordinary daily life incidents to show a continuous journey with no beginning and no end. If you look carefully, you can find yourself in it... One side of the dome isnt painted, so if you stand there, you are a part of it. While this is possible at the lobby, its far more apparent on the 12th floor where you find yourself equal in dimension to the girl painted on the dome to your right. Another friend, Manjit Bawa would climb up to help Khanna paint parts of the dome. Khanna got paid 5 lakh but ultimately only made 1 lakh after expenditures.

But Khanna has focussed on his bandwallahs for a while now, whom he says reflect the Indian preoccupation with pomp and relics of the British Raj while at the same time telling the stories of the groups of men who dress up to perform at weddings. Arun Vadehra, whos known Khanna since the foundation of Vadehra Art Gallery, says Khannas preoccupation is with form and colour. The bandwallahs, like Husains horses, are interesting in their blown-up cheeks and thick lines, but we shouldnt try to see what we want in the work of an artist, especially one of the greats like Khanna. Instead, we should look at the form and colour. But I still believe Khanna is one of the great raconteurs who tells the stories of ordinary men through his brushes.

Much like the miniature artists I love, Khanna speaks with a few strokes. But the forms and colours he uses are also delightful. His work is like Picassos it has got simpler over time but it is an allegory for an age.

The writer is the author of the fantasy series Weapons of Kalki, and an expert on South Asian art and culture.

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The last of the Progressives, Krishen Khanna told stories of a newly independent India - The Hindu

Spending bill passed but leftists got rolled, expert says: ‘Perfect storm of badness for House progressives’ – Fox Business

FOX Business host Larry Kudlow discusses Biden's economic agenda, inflation, the president's pick for Federal Reserve chair and the programs in the social spending package.

Progressives celebrated the passage of Democrats' nearly $2 trillion reconciliation spending bill Friday morning after months of negotiations but that bill is a shell of its former self and they have little leverage to keep it from shrinking further in the Senate.

"If I'm looking at the situation, I think the progressives didn't get anything, really," R Street Institute senior fellow for governance James Wallner told FOX Business. "They have a much more scaled down infrastructure package, you know, trillions of dollars less than what they originally were demanding, and that was dictated by moderates' pressure to not vote for it."

"Simultaneously on that, they ended up giving up their only leverage, which was letting the infrastructure bill go, which is now signed into law," Wallner added. "It like a perfect storm of badness for House progressives right now."

Rep. Alexandria Ocasio-Cortez, D-N.Y., speaks during a news conference to discuss legislation that would strengthen Social Security benefits, on Capitol Hill Oct. 26, 2021 in Washington, D.C. (Drew Angerer/Getty Images / Getty Images)

WHITE HOUSE STANDS BY CLAIM THAT RECONCILIATION BILL WON'T ADD TO DEFICIT, DESPITE CBO SCORE

Wallner worked on Capitol Hill for more than a decade and worked in both the House of Representatives and the Senate, including as the legislative director to Sens. Pat Toomey, R-Pa., and Jeff Sessions, R-Ala.

The Congressional Progressive Caucus (CPC) demanded for months that the House not touch the infrastructure bill until the Senate passed the reconciliation bill. House Speaker Nancy Pelosi, D-Calif., agreed.

Then Pelosi and progressives were demanding that the House should pass the reconciliation and infrastructure bills at the same time. But eventually it was Pelosi who strong-armed progressives into passing infrastructure first earlier this month.

Sen. Bernie Sanders, I-Vt., was fond of saying that he would prefer a $6 trillion bill and $3.5 trillion was the compromise. House progressives were behind him.

But the bill was whittled down slowly to just under $3 trillion, then just above $2 trillion, then just under $2 trillion.

Sanders said Friday he was glad the bill passed, but, "Nowthe legislation comes to the Senate where I hope to see it strengthened in a number of ways." Rep. Alexandria Ocasio-Cortez, D-N.Y., said it's "not just conservative changes" that are possible in the Senate but she hopes for "expansionary changes that could happen as well."

Unlikely.

Rep. Alexandria Ocasio-Cortez, D-N.Y., introduces Sen. Bernie Sanders, I-Vt., U.S. 2020 Democratic Presidential Candidate during a rally at University of Michigan on Sunday, March 8, 2020 in Ann Arbor, Michigan. (Salwan Georges/The Washington Post via Getty Images / Getty Images)

PELOSI, THE MODERATES, AND THE PROGRESSIVES: SPEAKER'S SHIFTING ALLIANCES AS SHE PUSHED BIDEN'S SPENDING PLANS

Sen. Joe Manchin, D-W.Va., held firm for months to his topline demand of $1.5 trillion and wants to strip the paid leave provision out of the bill. Sen. Kyrsten Sinema, D-Ariz., hasn't committed to voting for anything yet. And even House moderates like Rep. Stephanie Murphy, D-Fla., are saying the bill needs to get smaller in the Senate if they're to vote for it when it comes back to the House.

"I continue to have reservations about the overall size of the legislation and concerns about certain policy provisions that are extraneous or unwise," Murphy said in a Thursday statement heavily couching her vote for the bill. "I will work with my Senate colleagues to improve this bill, and I hope to vote onand enacta more streamlined version of the bill once it returns from the Senate."

"The budget rules make it really hard to increase the spending in a reconciliation bill on the Senate floor," Wallner said. "The key stage is gonna be how Schumer handles the internal party discussions ahead of that floor debate... They have to have all their ducks in a row, they have to have a come-to-Jesus moment."

Rep. Ilhan Omar, D-Minn., introduces Democratic 2020 U.S. presidential candidate and Sen. Bernie Sanders, I-Vt., at a campaign event in Nashua, New Hampshire, Dec. 13, 2019. (REUTERS/Elizabeth Frantz / Reuters Photos)

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The fact is, Wallner said, moderates hold all the cards in shaping what the final reconciliation bill will look like. And it is not going to look very much like what the "Squad" or the CPC want it to.

"Obviously, you're gonna have to compromise," Wallner said of the legislative process. But progressives will have to ask themselves, "What did they get for all this effort?"

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But Rep. Ilhan Omar, D-Minn., said Friday that the legislative effort is not over.

"Today is a day to celebrate," she said. "Tomorrow is the day to continue to go back to the negotiations and push it in the Senate."

Fox News' Caroline McKee contributed to this report.

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Spending bill passed but leftists got rolled, expert says: 'Perfect storm of badness for House progressives' - Fox Business

Opinion | What Is the Winning Formula for Democrats? – The New York Times

To the Editor:

Re Alexandria Ocasio-Cortez on Why Democrats Talking Points Are Not Enough (news article, nytimes.com, Nov. 21):

A.O.C.s youth and lack of experience are showing. She is talking as if far-left progressives are the only people in the world. In fact, the voting public is made up of a majority of centrists and conservatives. That the Democratic Party is at war with itself further erodes the confidence of the American people.

The country was badly divided after the election. Only a year has gone by, and it has not been particularly successful for the Democrats. What is needed is for the Democrats to show they can govern and get things done. They have done so little in part because the progressives are acting like greedy children and insisting that they want the whole cake, and they want it now.

If this continues the Democrats will lose their majority and any chance of even moderate change. They will in fact see a concerted effort to roll back whatever changes have been enacted. It will be a self-inflicted wound.

Bruce HigginsSan Diego

To the Editor:

Re Democratic Socialists Need to Take a Hard Look in the Mirror, by Fredrik deBoer (Opinion guest essay, nytimes.com, Nov. 16):

The biggest problem Americans have with socialism is the word itself. After almost a century of Republicans using it as a cudgel to batter Democrats even Democrats who couldnt be further from socialism is it any wonder that the word gets no traction in this country?

Socialist ideas are deeply embedded in this country; the police, military, sanitation are socialist institutions, but fortunately nobody calls them that. The best thing socialists can do to help themselves is retire the name.

I would also question Mr. deBoers assumption that Americans twice rejected Bernie Sanders because of his socialist ideas. The ideas are, as he says, quite popular. Bernie lost by being Bernie a deeply flawed candidate.

Socialism is really just another word for government. The Build Back Better plan is based on the idea that government is ready and able to help its citizenry. Id call that socialism, but never out loud.

Andy EdelsteinBerkley, Mich.

To the Editor:

Re Bill Clinton Saved His Presidency. Heres How Biden Can, Too (Opinion guest essay, nytimes.com, Nov. 8):

I could not agree more with Mark Penn and Andrew Stein. I do not believe that Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez represent the core values of most Democrats, and I count myself a lifelong Democrat.

I used to think that Senators Joe Manchin and Kyrsten Sinema were outliers, even obstructionists, but I no longer feel that way. It is Bernie Sanders and A.O.C. who are the obstructionists.

I am a white male in my early 70s, a Vietnam veteran, a retired police deputy chief, a former New Hampshire state representative, and a moderate Democrat who never believed that throwing money at a problem was an effective means of solving it.

Here is my recipe for how the Democrats can maintain majorities in the House and the Senate in 2022, and win the White House in 2024:

1) Start controlling the message! Pound the airways every day, the way Republicans would, touting the infrastructure bill just passed.

2) Have President Biden appear regularly at White House news conferences, answering questions and educating the public on what the Democrats are doing for the country.

3) Please, for the sake of the country, move firmly away from extreme progressive platforms. Communities do not want to see their police forces defunded. They want to see the southern border dilemma resolved. They want to see more moderate spending bills. Democrats want their party to move back toward the center of the political spectrum.

Len DiSesaDresher, Pa.

To the Editor:

Re The Diminishing Democratic Majority (column, Nov. 21):

Ross Douthat writes that once Covid-era interventions are finally in the rearview mirror, it may be that the critical race theory debate recedes somewhat, ignoring 50 years of Republican electoral strategy. Issues that once defined the G.O.P., including fiscal responsibility, moral fitness and free trade, have been discarded and replaced with an endless buffet of racial grievance platters, with critical race theory simply a new menu item.

As with previous boogeymen of busing, crime and affirmative action, critical race theory feeds into the G.O.P. story line that the economic prospects of hardworking white citizens are being undermined by an increasingly diverse Democratic Party. With nothing tangible left to offer its voters, critical race theory scaremongering is now firmly within the canon of Republican scripture.

Eric R. CareyArlington, Va.

To the Editor:

Re F.B.I. Tracks Threats Made to Personnel at Schools (news article, Nov. 17):

Attorney General Merrick Garland did the right thing when he ordered the F.B.I. to create a threat tag to track incidents of harassment of teachers by some parents.

When people issue death threats to teachers and their families, and when they stalk those teachers and their families menacingly, thats terrorism. School personnel have had to hire protection from these terrorists.

It would be an act of cowardice for the Justice Department to bend to Republicans objections to this new policy.

Myrna LueckYpsilanti, Mich.

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Opinion | What Is the Winning Formula for Democrats? - The New York Times

Progressives win again: No infrastructure vote Thursday | TheHill – The Hill

House Democratic leaders abandoned a third attempt on Thursday to clear a Senate-passed bipartisan infrastructure bill, as progressives held firmly opposed without deeper assurances that a larger package of social benefits is a slam dunk.

The third punt in a month came after President BidenJoe BidenWhite House unveils strategy for 2050 net-zero goal Southwest investigating report pilot said 'Let's go Brandon' on flight House Rules Committee won't meet Monday on reconciliation package MORE made a rare visit to the Capitol to beseech House Democrats to help him advance his agenda as a matter of demonstrating that American democracy can still function.

The visit was hailed by lawmakers of all stripes, but it did little to convince the liberals to vote immediately on the infrastructure bill. And the delay has sparked a new round of finger-pointing from lawmakers already frustrated with the months-long impasse and Bidens sinking approval numbers.

Not good optics. Its terrible optics, conceded Rep. Alan LowenthalAlan Stuart LowenthalProgressives see infrastructure vote next week Progressives win again: No infrastructure vote Thursday Pelosi vows to bring infrastructure to vote on Thursday MORE (D-Calif.), who wanted the House to pass the infrastructure bill on Thursday.

People are frustrated right now, added Rep. Jim CostaJames (Jim) Manuel CostaInfrastructure setback frustrates Democrats nearing victory on spending Progressives win again: No infrastructure vote Thursday Biden leaves meeting saying 'it doesn't matter' when bill is passed MORE (D-Calif.), a moderate Blue Dog. Theres a lack of trust, and you got a lot of members here that have been here four years or less and they dont seem to understand how you get things done.

One of the Blue Dog Coalition leaders, Rep. Stephanie MurphyStephanie MurphyProgressives win again: No infrastructure vote Thursday Democratic chairmen say they are not giving up on adding drug pricing measure Democrats call for removing IRS bank reporting proposal from spending bill MORE (D-Fla.), later issued a statement, saying the group is extremely frustrated that legislative obstruction of the[infrastructure bill] continues not based on the bills merits, but because of a misguided strategy to use the bill as leverage on separate legislation.

Some of the frustration was also directed toward the Senate centrist holdouts Joe ManchinJoe ManchinWhite House unveils strategy for 2050 net-zero goal Biden sets off high-stakes scramble over spending framework Buttigieg twins dress as 'twinfrastructure' for Halloween MORE (D-W.Va.) and Kyrsten SinemaKyrsten SinemaBiden sets off high-stakes scramble over spending framework Officials, lawmakers express optimism that infrastructure, spending vote is near Buttigieg on passing spending packages: 'We are the closest we have ever been' MORE (D-Ariz.) who have resisted large parts of Bidens agenda and forced him to settle far below his initial request of $3.5 trillion in new spending.

Basically its the [dis]trust of Manchin and Sinema, said Rep. Steve CohenStephen (Steve) Ira CohenProgressives win again: No infrastructure vote Thursday Liberals defy Pelosi, say they'll block infrastructure bill Can the US Navy fight and win a war? MORE (D-Tenn.). Thats the problem.

But there was also grumbling that Biden and his administration have bungled the negotiations from the start by focusing initially on the Senate and leaving House members feeling left out.

"Even in the beginning of the summer, this was about the White House and the Senate, and the House was excluded," said Rep. Alexandria Ocasio-CortezAlexandria Ocasio-CortezHillicon Valley Feds zero in on groups critical to national security Ocasio-Cortez defends climate provisions in spending bill: 'I have to live in this future' On The Money The big business wins in Build Back Better MORE (D-N.Y.). "This is, I think, the result of that omission."

Despite the delay, Democrats were optimistic that negotiators could reach a deal within days on the social benefits bill, paving the way for both proposals to hit the floor next week.

Still, Speaker Nancy PelosiNancy PelosiBiden sets off high-stakes scramble over spending framework Biden expresses confidence domestic agenda will pass by end of week Are the 'Baptists' or 'bootleggers' calling the shots in electric vehicle tax credit debate? MORE (D-Calif.) and her leadership team wanted to expedite that timeline by clearing the bipartisan infrastructure bill on Thursday to give Biden a big legislative victory as he left for Europe for a global climate change summit. Leadership also hoped to boost Democratic gubernatorial candidates in Virginia and New Jersey, where voters go to the polls on Tuesday.

Democrats are particularly anxious about the fate of Terry McAuliffe in Virginia, who was the favorite months ago but is now running neck and neck with Glenn Youngkin, the GOP candidate, in the final stretch.

A Fox News poll released Thursdayfound Youngkin leading by 8 points among likely voters. Among registered voters, the same poll showed the candidates1 point apart, well within the survey's 2.5 percentage point margin of error.

Rep. Don Beyer (D-Va.), a former Virginia lieutenant governor, said it was frustrating that House Democrats were repeatedly falling short of deadlines to pass the bipartisan infrastructure bill.

It would have demonstrated a strong president and a unified Democratic Party, Beyer said of the idea of the House clearing the bill before Tuesdays gubernatorial race in his state.

The bipartisan infrastructure bill would also renew federal highway programs that are currently set to expire on Oct. 31. Faced with the impasse, Democratic leaders instead hastily scheduled a vote Thursday night on a short-term extension through Dec. 3, which lawmakers passed handily on a bipartisan basis.

Lawmakers similarly had to enact a short-term patch for expiring highway programs last month when House Democratic leaders also had to postpone plans to vote on the bipartisan infrastructure bill due to progressive resistance.

Pelosi originally made a commitment to a group of moderate Democrats in August that the House would take up the bipartisan bill by Sept. 27. The vote was pushed to Sept. 30, then to Oct. 1, and then delayed again as progressives held firm in their position.

Thursdays vote to renew the highway programs capped a long day for Democrats in Washington racing to advance Bidens sweeping economic agenda.

It began, in an unexpected move, when the White House unveiled a $1.75 trillion framework Thursday morning for the social spending package that includes funding for universal preschool, an expansion of Medicare to include hearing coverage, and a new surtax on multimillionaires.

But progressives insisted that they at least needed legislative text to feel confident enough in backing the bipartisan infrastructure bill.

With House Democrats able to afford only three defections and still pass legislation on their own, progressives made clear that they could prevent the bipartisan bill from passing even if a handful of Republicans voted for it.

This is the whole thing: We need to see what were doing because we didnt want delays, and we wanted to make sure that we could go from a framework to legislation. And because of our clear position on that, we got legislation, said Rep. Pramila JayapalPramila JayapalBiden sets off high-stakes scramble over spending framework Officials, lawmakers express optimism that infrastructure, spending vote is near Infrastructure setback frustrates Democrats nearing victory on spending MORE (D-Wash.), head of the Congressional Progressive Caucus (CPC).

Other progressives attempted to spin Thursdays developments as a win for Biden and his party, even though the pair of bills remained stuck in limbo. Rep. Veronica EscobarVeronica EscobarProgressives see infrastructure vote next week Progressives win again: No infrastructure vote Thursday Lack of trust mangles Democratic efforts to reach deal MORE (D-Texas), a senior whip for the Congressional Progressive Caucus, argued that Bidens Build Back Better framework won a critical endorsement from the roughly 100-member CPC and that progressives and moderates significantly narrowed their differences, agreeing which key policy provisions were in or out.

It is going to make a deep and lasting impact on families in economically disadvantaged communities like mine. And the amount between infrastructure and the framework for climate change that amount combined is nearly $1 trillion, Escobar, who represents El Paso, told The Hill.

I think the president should embrace this as a victory, she said, because what he got from the Progressive Caucus was an endorsement of the framework and a commitment that we will help him get those bills across the finish line with our votes.

--Updated at 8:38 p.m.

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Progressives win again: No infrastructure vote Thursday | TheHill - The Hill

On The Money Presented by Citi Progressives shrug off Manchin warning | TheHill – The Hill

Happy Monday and welcome to On The Money, your nightly guide to everything affecting your bills, bank account and bottom line. Subscribe here: thehill.com/newsletter-signup.

Todays Big Deal: High tensions and high stakes between House progressives and Sen. Joe ManchinJoe ManchinWhite House unveils strategy for 2050 net-zero goal Biden sets off high-stakes scramble over spending framework Buttigieg twins dress as 'twinfrastructure' for Halloween MORE (D-W.Va.) Well also look at the latest on the debt ceiling and stablecoin rule proposals.

For The Hill, Im Sylvan Lane. Write me at slane@thehill.com or @SylvanLane. You can reach my colleagues on the Finance team Naomi Jagoda at njagoda@thehill.com or @NJagoda and Aris Folley at afolley@thehill.com or @ArisFolley.

Lets get to it.

Manchin frustratesDems with latest outburst

Sen. Joe Manchin (D-W.Va.) on Monday refused to sign off on a $1.75 trillion social spending and climate measure at the heart of President BidenJoe BidenWhite House unveils strategy for 2050 net-zero goal Southwest investigating report pilot said 'Let's go Brandon' on flight House Rules Committee won't meet Monday on reconciliation package MOREs economic agenda, throwing a wrench into plans for a swift House vote this week.

The upshot: His words had a deflating effect on Democratic colleagues who had hoped Manchin would be more of a team player,taking a potential Tuesday vote on the infrastructure bill off the table.

I say at some point, close the deal, Senate Democratic Whip Dick DurbinDick DurbinBiden sets off high-stakes scramble over spending framework Manchin, Sinema put stamp on party, to progressive chagrin Manchin signals he'll support .75T price tag for spending plan MORE (Ill.) said with a little exasperated sigh when asked by reporters about Manchins comments.

Sen. Mazie HironoMazie Keiko HironoDemocrats face ire of women over loss of paid leave Patience wears thin as Democrats miss deadlines Democrats face critical 72 hours MORE (D-Hawaii) also expressed her growing impatience and frustration.

I would like to ask Joe Manchin, You know what Joe, we really need to be moving.' ... I don't think we're moving too fast, she said.

Jordain Carney and Alexander Bolton have the latest here.

House Democrats brush off Manchin: While liberals were exasperated, Democratic negotiators in the House said theyre on the brink of sealing a deal on Bidens economic agenda despite Manchins barbs.

We intend to pass both bills through the House in the next couple of days, Rep. Pramila JayapalPramila JayapalBiden sets off high-stakes scramble over spending framework Officials, lawmakers express optimism that infrastructure, spending vote is near Infrastructure setback frustrates Democrats nearing victory on spending MORE (D-Wash.), the head of the Congressional Progressive Caucus, told CNN Monday not long after Manchins press conference.

The state of play: Negotiators worked through the weekend and into Monday to iron out the last stubborn wrinkles in the $1.75 trillion plan talks that seemed to focus most intently on a contentious provision to rein in prescription drug prices.

I believe that the president is speaking out of the experience that he has had of negotiating ... with these senators, she said. So I trust the president; he's going to deliver 51 votes. And I think we just need to bring all the temperature down a little bit.

Mike Lillis and Scott Wong bring us up to speed.

A MESSAGE FROM CITI

Tackling the startup worlds gender, race and ethnic funding gap.

With our $200 million Impact Investment Fund we are seeking opportunities to invest in businesses that are led or owned by women and minority entrepreneurs, helping to create equitable access to venture capital funding.

LEADING THE DAY

Yellen says reconciliation a 'viable' way to tackle debt limit

Treasury Secretary Janet YellenJanet Louise YellenG-20 leaders endorse global minimum tax On The Money The big business wins in Build Back Better Yellen says spending bill would lower inflation, reduce household costs MORE said using a budget procedure known as reconciliation is a viable solution to raising the debt ceiling for Democrats if Republicans wont take action to prevent the nation from defaulting on its national debt.

In a recent interview with The Washington Post, Yellen reiterated that tackling the debt ceiling should absolutely be done on a bipartisan basis, as it has in the past. But if a current standoff between Republicans and Democrats over the debt ceiling doesnt let up, Yellen said Democrats may have to handle the problem themselves.

If Democrats have to do it by themselves, thats better than defaulting on the debt to teach the Republicans a lesson, she said.

To me, as the person who has to pay the bills and watches this on a daily basis our funds dwindling in our account over time I very much want to make sure that this is addressed. And this Section 304 procedure is one way in which that could occur, Yellen said, referring to a section of the budget procedure she said could be used to tackle the debt ceiling.

Aris Folley has more here.

REALM OF THE COIN

White House, bank watchdogs call for tougher stablecoin oversight

Two federal bank regulators and a White House commission on Monday called for increasing federal supervision and regulation of digital tokens with values tied to government currencies or other financial assets.

In a Monday report, the Federal Deposit Insurance Corp. (FDIC), Office of the Comptroller of the Currency (OCC) and the Presidents Working Group on Financial Markets said Congress should pass legislation bringing so-called stablecoins under close federal watch.

I break it down here.

JES WALKS AWAY

Barclays CEO stepping down after Epstein probe

Barclays CEO Jes Staley is stepping down from his post following an investigation into his ties to convicted sex offender Jeffrey Epstein.

In a statement on Monday, Barclays said the company and Staley were informed of the probes preliminary findings on Friday evening, which led to the resignation decision.

In view of those conclusions, and Mr Staleys intention to contest them, the Board and Mr Staley have agreed that he will step down from his role as Group Chief Executive and as a director of Barclays, the bank said, according to CNBC.

While it did not reveal many details on those conclusions, Barclays did say the investigation makes no findings that Mr. Staley saw, or was aware of, any of Mr Epsteins alleged crimes, which was the central question underpinning Barclays support for Mr Staley following the arrest of Mr Epstein in the summer of 2019.

Mychael Schnell has more here.

A MESSAGE FROM CITI

Tackling the startup worlds gender, race and ethnic funding gap.

With our $200 million Impact Investment Fund we are seeking opportunities to invest in businesses that are led or owned by women and minority entrepreneurs, helping to create equitable access to venture capital funding.

Good to Know

A group of about 250 millionaires on Monday urged top Democrats to include a proposal to tax billionaires' investment gains annually in their social-spending package, after the proposal was left out of a framework the White House released last week.

Heres what else have our eye on:

Thats it for today. Thanks for reading and check out The Hills Finance page for the latest news and coverage. Well see you tomorrow.

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On The Money Presented by Citi Progressives shrug off Manchin warning | TheHill - The Hill