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situation is fluid. we ll be listening to what nancy pelosi has to say. and it gets to a larger question, is momentum building for some big wins, a bill that helps us compete with china now heads to the president s desk for signature. and democrats have senator manchin on board for a bill they are calling the inflation reduction act that addresses everything from climate change to health care. couldn t come at a better time with the midterms fast approaching and democrats fighting to hold on to control of congress. and there are policy challenges from the war in ukraine to securing the release of brittney griner. there is iran and russia and china whose leader the president spoke with yesterday amid rising tensions of pelosi s trip to the region and potentially taiwan. let s dig into all of this. wehave mike memoli and also ali vitali. and we have our mcrib contributors. ali, what more can you tell us about the situation of the bills? reporter: at this point it is rea ....
with a controversial stop in taiwan, not ruled out, not confirmed. a live report from kentucky where a deadly flood is deaf stath rural areas. this is by far the worst flooding disaster, at least of my lifetime, in kentucky. it has wiped out what we believe are hundreds of homes. we have half of some of our counties under water. we will lose double digit lives. in pete we trust. i will be joined by our legendary justice correspondent pete williams as we pay tribute to his remarkable career here to nbc news before he heads off for new adventures. we begin with the economy and the white house. joining me now are kristin welker and cnbc senior economics reporter steve leaseman. the white house trying to control the narrative on this economy. inflation continues to be a major drag on their messaging. reporter: you are right. they are trying to put the focus on the fact that the labor market is strong, that the unemployment rate is low. but it is a complicated argu ....
trump administration officials. details of that new reporting ahead as well. and later on, we don t have the manpower as the doj s january 6th probe expands, sources telling our team resources are at a breaking point. what we re learning about the most wide-ranging investigation in justice department history coming up as well. i m in for hallie jackson. want to get to ali vitali on capitol hill. what i am hearing as we wrap up this incredibly surprising week to say the least is that there is a procedural vote happening in the next couple minutes. walk us through what you know. reporter: yeah. certainly a week with a lot of twists and turns here between the senate and the house. the house leaving town now, at least for the next week or so, and doing it with a flurry of activity before they get there, setting up this vote, this procedural motion in just a few minutes that s going to be a vote on the rule to get onto the actual vote on an assault weapons ban. in talk ....
repercussions for u.s./china relations. can the two powers recover from this new low? is this the start of a cold war? i ve got the experts on it all. also justice has been delivered and this terrorist leader is no more. america kills a leader of al qaeda, once again. so just what is the state of terrorism today? how big is the threat to the west? but first, here s my take. the world s two most powerful nations find themselves in a hair-raising crisis that could spill into military conflict. and the strangest aspect of all this is how predictable it was. taiwan s status has long been known as the most sensitive issue for both the united states and china, one that has been carefully managed for five decades, and nancy pelosi had signaled her desire to go to taiwan months ago. but on the american side, a series of errors, many of them tactical and driven by domestic politics, have resulted in a dangerous reality. there is no serious working relationship between th ....
already big changes are being made to the bill s final form. let s get right to cnn s manu raju live on capitol hill. manu, walk us through the process. reporter: democrats are trying to get to final passage of this bill after this marathon voting session that started at 11:30 p.m. eastern time last night. it is still ongoing. there have not been any breaks. it s unclear exactly how this is going to play out because there has been some last-minute drama that s affected senate democrats ability to get to final passage, this dealing with the issue of the corporate minimum tax, a 15% tax that would be imposed on businesses with more than $1 billion in income. that is a central component in this bill that would help pay for a number of the provisions dealing with health care and climate change, energy issues and the like. but there has been some concerns from senator kyrsten sinema about the 15% corporate minimum tax and its impact on some businesses that may make less t ....