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China's government issues warning after sending record 28 planes over Taiwan

China's government issued a warning to "foreign forces" after Taiwan reported a record 28 Chinese military planes flew over the self-governed island's airspace Tuesday, per Reuters.

Why it matters: The statement and deployment of aircraft including fighter jets and bombers comes after G7 leaders issued a statement Sunday urging the Chinese government to respect human rights and calling on peace and "stability across the Taiwan Strait."


28 PLA aircraft (Y-8 ASW, H-6*4, Y-8 EW, KJ-500 AEW&C*2, J-16*14 and J-11*6) entered #Taiwan’s southwest ADIZ on June. 15, 2021. Please check our official website for more information: https://t.co/JnfN8bOwgl pic.twitter.com/MBJv2jbNMZ

— 國防部 Ministry of National Defense, R.O.C. 🇹🇼 (@MoNDefense) June 15, 2021

What they're saying: "We will never tolerate attempts to seek independence or wanton intervention in the Taiwan issue by foreign forces, so we need to make a strong response to these acts of collusion," said Chinese government spokesperson Ma Xiaoguang, according to Reuters.

The big picture: The status of Taiwan, which the Chinese government claims is a breakaway province, is one of the most sensitive political issues between Washington and Beijing.

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Federal Reserve expands lending program for small businesses

The Federal Reserve said on Friday it would again lower the minimum loan size for its pandemic-era small business program.

Details: Businesses and nonprofits will be able to borrow a minimum of $100,000 from the facility, down from $250,000 — a move that might attract smaller businesses that don't need as hefty of a loan. Since the program launched earlier this year, the minimum loan size has been reduced twice.

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GOP senators quietly meet with White House on infrastructure, happy with what they hear

Top White House officials have quietly been meeting — on the Hill and over the phone — with Republican senators who drafted a counterproposal to President Biden's infrastructure plan, multiple sources tell Axios.

What we're hearing: The GOP senators say they're optimistic the Biden administration is open to concessions and can reach a compromise. They've been heartened by their talks with White House Chief of Staff Ron Klain, counselor to the president Steve Ricchetti and legislative affairs director Louisa Terrell.

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