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President Biden speaks about his economic plan in February as Treasury Secretary Janet Yellen listens. Photo: Stefani Reynolds-Pool/Getty Images

Political groups representing some of the biggest corporations in America — including Disney, Pfizer and ExxonMobil — are preparing a massive lobbying campaign against key pieces of President Biden's economic agenda, per the Washington Post.

Why it matters: The lobbying blitz could make passing the $3.5 trillion plan — Biden's signature domestic legislation — even more difficult. It already faces an uphill battle in the Senate where Democrats hold a slim majority and cannot lose a single vote.

Opposition is widespread and coming from many industries, including "drug manufacturers, big banks, tech titans, major retailers and oil-and-gas giants," per the Washington Post.

  • The U.S. Chamber of Commerce is taking on a significant role in lobbying against the legislation.
  • Other opponents include the RATE coalition, which includes Capital One, Disney and FedEx; the Business Roundtable, which has representatives from Apple and Walmart; and PhRMA, which represents the pharmaceutical industry.

Background: This represents a shift for the Chamber, which initially lobbied for the infrastructure bill that passed the Senate in August.

What they're saying: Neil Bradley, the Chamber's executive vice president, criticized the budget bill, saying it "proposes to fundamentally rewrite the rules of the road across virtually every major industrial sector.”

  • Senator Bernie Sanders (I-Vt.), who helped craft the bill, said earlier this summer that the opposition from major corporations is a “sign of the greed that pervades corporate America.”

Go deeper

Republicans scuttle voting rights proposal

Sen. Joe Manchin. Photo: Tom Williams/CQ-Roll Call via Getty Images

The Senate failed to advance a new voting rights bill in a 49-51 vote Wednesday, after Republicans successfully filibustered the bill.

Why it matters: The Freedom to Vote Act is the latest attempt by Democrats to counter Republican-led efforts to pass state laws restricting voting access. This marks the third time this year that Republicans have been able to scuttle voting rights legislation, the New York Times noted.

Oct 21, 2021 - Politics & Policy

Stymied by Sinema

Photo: Mandel Ngan/Pool/Getty Images

Congressional leaders say Sen. Kyrsten Sinema’s (D-Ariz.) potential opposition to any corporate or personal tax increase will complicate — and potentially delay — President Biden’s $2 trillion plan to expand the social safety net.

Why it matters: If tax hikes are out, lawmakers have to find new revenue streams to pay for child care and other administration priorities. Sinema may not be opposed to some drug pricing reforms or enhanced IRS enforcement, Axios has learned.

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest.

Why it matters: The atmospheric river, packing large amounts of moisture, was causing Northern California to whiplash from drought to flood, as it slowly moved south overnight. It's triggered widespread power outages, flooding and mudslides.