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Scoop: McConnell alerted White House before congratulating Biden

Dec. 15, 2020 11:59PM EST
 Dan Ackermann

Senate Majority Leader Mitch McConnell called White House chief of staff Mark Meadows Tuesday morning to say he planned on congratulating Joe Biden on winning the Electoral College and would officially address him as president-elect on the Senate floor, two sources familiar with the call tell Axios.

Why it matters: The Senate leader had resisted public demands to acknowledge Biden's victory despite the president's losing court battles, holding off until electors had formally given Biden the 270 votes he needed to secure his win on Monday. The delay underscored that McConnell still needs President Trump to back must-pass legislation before leaving office, one of the sources said.

  • The Kentucky Republican — whose wife, Elaine Chao, serves in the president's Cabinet — did not speak directly with Trump.

Beyond Trump's help in the Senate, McConnell also needs the support of Trump voters in the pivotal Georgia Senate runoff elections next month. Republicans must win both races or face a 50-50 split Senate with the Democrats, and Vice President Kamala Harris, casting tie-breaking votes in her party's favor.

  • McConnell also made clear during a phone call Tuesday afternoon he doesn’t want Senate Republicans doing anything to jeopardize incumbents up for reelection in the critical 2022 midterms.

Yes, but: McConnell's courtesy call to the White House didn’t stop Trump from tweeting an article quoting Rep. Mo Brooks. The Alabama Republican asserted: "‘Trump Won the Electoral College' - I Can Be a Part of the ‘Surrender Caucus‘ or I Can Fight for Our Country,” just moments after McConnell spoke.

  • A spokesperson for McConnell declined to comment. The White House did not immediately respond to a request for comment.

Schumer says Democrats are "delighted" Ron Johnson is forcing relief bill to be read out loud

Senate Majority Leader Chuck Schumer (D-N.Y.) accused Sen. Ron Johnson (R-Wis.) of going to "ridiculous lengths" to show his opposition to a COVID relief package widely supported by the American public, after Johnson demanded that the entire 600-page bill be read on the Senate floor.

The state of play: Johnson's procedural move will likely add 10 hours to the 20 hours already allotted for debate, during which Republicans will propose amendments to force uncomfortable votes for Democrats. Schumer promised that the Senate will stay in session "no matter how long it takes" to finish voting on the $1.7 trillion rescue package.

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Data: EIA and FactSet; Chart: Axios Visuals

Gas prices are hitting new post-pandemic highs across the country, but this isn't a story of America reopening. It's really just a function of the price of oil going up.

By the numbers: Gasoline cost $2.71 on average as of Monday, per the Energy Information Administration. The highest average price was $3.59 in Los Angeles, while the lowest was $2.33 in Houston.

  • All of these prices represent the highest level seen since 2019.

The big picture: The price of crude oil reflects more than half of the cost of a gallon of gasoline. (The rest is refinery costs, distribution costs, and taxes.)

  • Demand for oil has actually been declining, per the New York Fed, but supply has been falling even faster, with the result that prices have now topped $64 for a barrel of Brent crude.

What central bank digital currencies mean for crypto

Central bank digital currencies, or CBDCs,represent the ultimate ratification of digital finance: Its adoption by the most venerated guardians of the international monetary architecture.

Why it matters: Crypto-evangelists often talk about CBDCs in awed terms. But it's far from clear that the bitcoin-and-ethereum crowd would ultimately benefit from money going digital.

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By the numbers: Just 9% of Americans consider China a "partner," while 55% see Beijing as a "competitor" and 34% as an "enemy."

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Driving the news: In the week ending March 1, the Border Patrol referred to HHS custody an average of 321 children per day, according to documents obtained by Axios. That's up from a weekly average of 203 in late January and early February — and just 47 per day during the first week of January.

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Researchers keep finding new ways to reveal that nations are together showing very few signs of getting on track to meet the Paris Agreement's goals.

One big question: That's whether a spate of recent analyses to that effect, and scientific reports coming later this year, will move the needle on meaningful new policies (not just targets).

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Data: FactSet; Chart: Axios Visuals

Investors holding the ultra-popular Nasdaq 100 and S&P 500 index funds have been hard hit over the last two weeks as tech shares have been roiled by rising U.S. Treasury yields.

Why it matters: Even though the economy is growing and many U.S. stocks are performing well, most investors are seeing their wealth decline because major indexes no longer reflect the overall economy or even a broad swath of public companies — they reflect the performance of a few of the country's biggest companies.

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