Manchin Tax

Hey Influence Traders,

As President Kennedy once noted, “When written in Chinese, the word ‘crisis’ is composed of two characters. One represents danger and the other represents opportunity.”

With the world suffering from supply chain shortages and feckless leadership coming from DC, many see such crises as danger.

But I see profit opportunity.

That is why trading guru Andrew Giovinazzi and I are going live tomorrow night to discuss a sector in which we see great potential in the coming months.

We’ll go “insider deep” on the how and why of this sector and identify exclusive  trades for attendees to “Capitolize” on that opportunity.

Lock in your spot today.

I’m loading up for Wednesday night, so I’ll just give some quick thoughts.

Congress is back to negotiate the spending bill.

Sen. Bernie Sanders wanted a $6 trillion bill.

The consensus was a $3.5 trillion bill.

But now the odds makers are putting the final bill somewhere between $1.8-$2.2 trillion.

Chop It Up

One marquee provision on the block is $150 billion to promote the use of clean energy sources by utilities, a program opposed by Manchin.

After all, he comes from coal country.

That opposition has angered many in his party, particularly the progressive wing.

Perennial tweeter AOC tweeted that it “is a moral imperative for humanity and our planet’s future to reduce and eventually eliminate emissions … there are many ways to do it, but we can’t afford to give up. Biden admin is already backing too many pipelines – we need clean energy.”

Despite the opposition, President Biden is still confident that he can get a deal done that will “fundamentally alter” the American economy.

Some would argue that he’s done enough “altering” in his first 10 months.

The Democrats can’t lose Manchin since they are going to need all 50 Dem votes to pass their bill.

That is why the bill will drop in size and scope.

It’s also why many believe that the clean energy provisions are dead on arrival.

That has Dems scrambling to focus on other clean energy focus areas:

      • $300 billion to extend existing tax credits for utilities, commercial businesses and homeowners that use or generate electricity from zero-carbon sources such as wind and solar
      • $32 billion in tax credits for individuals who purchase electric vehicles
      • $13.5 billion for electric car charging stations
      • $9 billion to update the electric grid, making it more conducive to transmitting wind and solar power
      • $17.5 billion to reduce carbon dioxide emissions from federal buildings and vehicles

Regardless of what stays in or is chopped out, the final bill will still be massive.

Just like the ideas coming out of Wednesday’s event.

Be there for the October Surprise.

Cutting Through the Noise for You.

Frank

 

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