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Manchin opposes corporate tax hike in Biden's infrastructure bill

Sen. Joe Manchin (D-W.Va.) forewarned in a radio interview Monday that he will not support a hike in the corporate tax rate from 21% to 28% as proposed in President Biden's infrastructure bill, adding that there are "six or seven other Democrats that feel very strongly about this.”

Why it matters: The tax hike is Biden's pitch on how to pay for the $2 trillion price tag on his American Jobs Plan. But pushback from moderate Manchin could scupper the bill, as a 50-50 split in the upper chamber has made each Democratic vote a must-have.

  • Manchin said he thinks the corporate tax rate should have "never been below [25%]" and that he would be comfortable with that number.

Between the lines: Senate Minority Leader Mitch McConnell said last week that he will fight against Biden's plan, signaling that there will be no Republican support for the measure.

  • And with the filibuster still in place, Democrats will also likely still need to pass the measure through a budget reconciliation process in order to avoid the need for 10 Republican votes, even if the entire Democratic caucus supports it.

What he's saying: "As the bill exists today, it needs to be changed ... Bottom line is that's what legislation is all about. This bill will not be in the same form you've seen it introduced..." Manchin said, adding that Biden's proposal might be broken up into three separate bills.

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Breaking down why Snowflake's massive IPO stood out from the stock market froth

Snowflake on Wednesday went public in the largest software IPO of all time, and then kept running like the Energizer Bunny on speed. By the time it was over, the company was worth over $80 billion.

Background: Snowflake was founded in 2012 to build data warehousing and analytics services for other businesses — audaciously seeking to both compete with Amazon while also building on top of it.

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UN: 12 million women denied access to birth control due to pandemic

Nearly 12 million women lost access to family planning services including birth control and contraceptives because of the COVID-19 pandemic, the United Nations Population Fund said in a report published Thursday.

Why it matters: The UNPF said the data from 115 low-and-middle-income countries shows the disruption for a total of 3.6 months caused by the pandemic over the past year led to 1.4 million unintended pregnancies.

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The post-pandemic battle against kids' screen time

After over a year in which parents let kids sit in front of screens pretty much all the time, reining in their digital fixation will be a challenge.

Why it matters: Some studies have suggested that certain types of digital content such as social media can have addictive qualities, and that consuming too much can be harmful to children, particularly adolescents.

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What more space flights would actually mean for emissions

Jeff Bezos says his suborbital space flight Tuesday reinforced his commitment to fighting climate change, but growth of this travel would also add a new source of carbon emissions.

By the numbers: S&P Global Sustainable1 offered some perspective on the amount of fuel burned and corresponding emissions from that type of commercial space launch.

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