Joe Biden will announce ... something (most likely) this morning

Joe Biden will make an announcement this morning. What that announcement is isn't known at this point but it's definitely getting lots of hype. According to this article, "The topline number of the reconciliation framework President Biden is expected to announce to House Democrats Thursday is $1.75 trillion, Fox News' Jacqui Heinrich reports." Already, the Squad is making demands, though they're softening their complaints a bit:

Rep. Alexandria Ocasio-Cortez, D-N.Y., said Thursday morning that President Biden's reconciliation framework will have to be better than something "on the back of an envelope" for her to vote for the bipartisan infrastructure bill this week, according to Fox News' Chad Pergram.

"I think we need to have certainty either through legislative text, through a uniform agreement that we can trust because there's been so many changes in this process," she also said. "I think legislative text is one mechanism of us getting there."

"No doing the hokey-pokey, one foot in, one foot out. So we need certainty that we're going to be able to deliver," she said.

Fox News is reporting this, too:

The reconciliation framework President Biden plans to announce to House Democrats at their 9 a.m. caucus meeting will include an estimated $1.995 trillion pay-fors, including a tax on stock buybacks, efforts by the IRS to stop tax dodgers and more.

The plan will also include a child tax credit, universal preschool, and a modified Medicaid expansion, among other things. Notably not in the plan are universal community college, paid family leave, and other policies.

"The president believes this framework will earn the support of all 50 Democratic senators and pass the House," a senior administration official said of the plan Thursday morning. "He will defer to Speaker Pelosi... on the specific timing of votes, but he will be full-throated that he believes each of these bills should pass when they come."

Weasel word alert "The president believes this framework will earn the support of all 50 Democratic senators." That means he doesn't have an agreement at this point. If Biden had an agreement, he'd announce it with great fanfare, pomp and circumstance. Ed Morrissey has more here:

Given all the above, it’s easy to conclude that Washington doesn’t have a deal. And that may well mean that thousands of transportation workers will have to get laid off by this weekend, thanks to the BIF’s inclusion of funding for the Department of Transportation. Unless Congress passes a separate CR for Transportation, the funding will run out on Saturday — which will make the supply chain crisis even worse.

To those transportation workers, that will be the equivalent of Democrat-caused government shutdown. At a time when inflation is running rampant, that won't play well. Weasel word alert 2.0:

Squawk Box reporter: "If everything comes together, they may vote on the Bipartisan Infrastructure Bill today." This is still a month away. Further, the child tax credit is a major sticking point that shouldn't get glossed over. That's been a point of contention for Joe Manchin, especially if it isn't means-tested and doesn't include workfare. Those shouldn't be glossed over.