Biden retreats on BBB | Huge loss for Trump | Russia-Ukraine update

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VIEW IN BROWSER | SUBSCRIBE FRI, JAN 21, 2022 CNBC POLITICS EDITOR'S NOTE Good morning,   President Biden accepted defeat on his Build Back Better plan, but suggested a path forward. The Supreme Court dealt a heavy blow to former President Trump. And the U.S. made another bid to prevent Russia from invading Ukraine.   Here are some of the stories we're following at CNBC Politics: Build Back Better breakup: Biden conceded this week that he will likely have to break up his sprawling climate change and social safety net bill into "chunks" in order to get some priorities passed in Congress. The president's shift comes after conservative Democratic Sen. Joe Manchin effectively sunk the bill, which bore a price tag of about $1.75 trillion. Specifically, Biden said in a press conference that "he believes he can win support for more than $500 billion in spending to combat climate change," CNBC Politics reporter Jacob Pramuk writes.  Ukraine tension: The U.S. has spent much of the past few weeks trying to keep Russia from invading Ukraine. While the Kremlin denies it is looking to attack its ex-Soviet neighbor, American intelligence believes the 100,000 Russian troops near the Ukraine border indicate otherwise. On Friday, Secretary of State Antony Blinken met with his Russian counterpart, Foreign Minister Sergey Lavrov, in the latest U.S. bid to press Moscow to pull back. "If Russia wants to begin to convince the world that it has no aggressive intent toward Ukraine, a very good place to start would be by deescalating by bringing back and removing these forces from Ukraine's borders," Blinken said. Read CNBC Politics reporter Amanda Macias' story here. Jan. 6 committee can get Trump docs: The Supreme Court this week rejected Trump's attempt to block the House panel investigating the January 6 Capitol riot from getting hundreds of pages of White House documents. Investigators believe the documents will shed light on what Trump and his aides said and did while a mob of the former president's supporters invaded the Capitol and held up Congress's confirmation of Biden's victory in the 2020 election. The top court's ruling "also represents a sharp loss for the Republican former president, given that he appointed three of the Supreme Court's six conservative justices, with none of those three indicating support for his effort," writes CNBC Politics reporter Dan Mangan.   Thanks for reading CNBC Politics.    Thoughts? Tips? Email us at CNBCPolitics@nbcuni.com.   Have friends or colleagues who might like this newsletter? They can sign up here.  Mike Calia @Michael_Calia KEY STORIES  Biden says he thinks Congress can pass parts of broken-up Build Back Better plan Biden said he believes Congress will support climate and early childhood education policies contained in his Build Back Better plan. Secretary of State Blinken meets with Russian counterpart in bid to prevent Ukraine invasion Secretary of State Blinken told his Russian counterpart that the Kremlin could defuse concerns about an invasion by moving troops away from Ukraine's borders. Supreme Court rejects Trump request to block release of records to January 6 committee President Joe Biden had refused to invoke executive privilege, as Donald Trump wanted to prevent White House records from going to the January 6 riot panel. Energy Secretary Jennifer Granholm violated a stock disclosure law nine times last year The energy secretary failed to disclose at least nine stock sales within the required 45-day window. Yellen defends Biden's economic record, says she sees path to slower inflation Treasury Secretary Yellen defended the administration's economic achievements and said that she hopes to see inflation closer to 2% by the end of 2022. Supreme Court deals a setback to abortion providers' bid to quickly block Texas law "The Court may look the other way, but I cannot," Justice Sonia Sotomayor wrote in a fiery dissent joined by liberal Justices Stephen Breyer and Elena Kagan. January 6 riot probe invites Ivanka Trump to talk about her father's actions that day Ivanka evidently has direct knowledge about what went on at the White House during the Capitol riot, committee chairman Rep. Bennie Thompson, D-Miss., said. Senate Republicans block voting rights bills, join with two Democrats to prevent filibuster change Senate Republicans blocked two voting rights bills, while Democrats Sinema and Manchin joined the GOP in opposing filibuster rule changes. Texas man arrested for alleged threat to kill Georgia election official day before Trump Capitol riot The case against Chad Stark is the first prosecution filed by the Justice Department's Election Threats Task Force. Top Eric Adams appointee did business with Trump and a Russian oligarch who was sanctioned by the U.S. New York Mayor Eric Adams has appointed to a top city job an executive with ties to the Trump Organization and Russian oligarch Viktor Vekselberg. U.S. judge blocks Biden vaccine mandate for federal workers in latest blow to White House Covid agenda Biden's rule "amounts to a presidential mandate that all federal employees consent to vaccination against COVID-19 or lose their jobs," the judge wrote. Atlanta DA seeks special grand jury in Trump Georgia election interference probe Former President Donald Trump and others are being eyed in a criminal probe in Georgia in connection with the 2020 election against President Joe Biden.     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS