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plus the u.s. and russia debating a prisoner swap. antony blinken speaking with sergey lavrov. and a breakthrough on capitol hill. chuck shchumer and joe manchin striking a deal after a year of negotiations. >> there's a lot in this bill, including tax changes. we begin with major developments on the u.s. economy. the gross domestic product fell 0.9%, following a 1.6% drop in the first part of this your, blamed in part on the omicron surge, all of this adding to fears the u.s. could be in a recession. joining me to talk about all this, white house national economic director brian dee...

Violent clashes continued this week at colleges and and universities across the country as Police Departments from New York City to los angeles moved in to clear propalestinian encampments and Arrest Protesters in scenes reminiscent of the vietnam war era. After more than a week of silence, President Biden addressed the growing campus chaos on thursday. Theres the right to protest but not the the right the cause chaos with. Vandalism, trespassing, breaking windows, shutting down campuses, forcing the cancellation of classes and graduations, none of this is a peaceful protest. Dissent is essent...

The tax cut jobs act under trump, the corporate side was almost revenue neutral. we brought into the base we extended the stuff internationally and cut the rate what biden is proposing is taking a corporate rate back up about halfway but he is keeping the base broadening. relative to the obama tax code, it is a massive tax hike. when obama went after it -- biden is taking us where no man has ever gone before. shatner going into outer space. paul: that will have a dampening effect on investment in supply. one of the untold stories that came out this week, corporate tax revenues soared 75% year-...

To 35. >> right, but he did not want so many offsetting, base-broadening things in the tax code that would generate more revenue. the thing the president is proposing is a small tax increase. that's why republicans object to it. if you came to republicans and said, let's cut the corporate tax rate by seven points, they'd be happy to do that. if you wanted to pair that with an infrastructure deal, i think you could get republicans on board with that. the sticking point for the republicans is the base broadening, the component that raises taxes on a lot of businesses. >> as much as i'd love to t...

Encourages companies, when they can be mobile to look for lower tax environments in which to place economic activity. if we want to create investment incentives here for u.s. companies and foreign companies and jobs here, we have to start with a competitive corporate tax rate. that's the first step, bringing the rate down. the second step is paying for that by getting rid of the kind of loopholes, preference, credits, subsidies that have been added to the code over the past 30 years. that really distort the code. economists worry a lot about distortions. why do you prefer one sector to another...