screengrab cedric leighton
US announces new military assistance to Ukraine. Hear what it means for the ground game
01:25 - Source: CNN
CNN  — 

Get '5 Things' in your inbox

  • If your day doesn’t start until you’re up to speed on the latest headlines, then let us introduce you to your new favorite morning fix. Sign up here for the ‘5 Things’ newsletter.

    Last month saw the most tornadoes ever recorded in March in the US, and it was the second record-breaking March in a row. In general, scientists are seeing more severe weather earlier in the year, and yes, climate change is likely a factor.

    Here’s what you need to know to Get Up to Speed and On with Your Day.

    (You can get “5 Things You Need to Know Today” delivered to your inbox daily. Sign up here.)

    1. Ukraine

    The Senate on Sunday afternoon passed Democrats’ $750 billion health care, tax and climate bill, in a significant victory for President Joe Biden and his party. The final, party-line vote was 51-50, with Vice President Kamala Harris breaking the tie. The Democrat-controlled House, which is expected to take up the legislation on Friday, must approve the bill before Biden can sign it into law. The measure includes a handful of important but narrow provisions to lower prescription drug prices and extend enhanced Affordable Care Act subsidies for three years. The bill would also be the biggest climate investment in US history, slashing US greenhouse gas emissions by 40% by 2030, Senate Majority Leader Chuck Schumer’s office said. To boost revenue, the legislation would impose a 15% minimum tax on the income large corporations report to shareholders, raising $258 billion over a decade. While the deal is far smaller than the slimmed-down $1.75 trillion version the House passed in October, Democrats and the White House say the bill could still have a massive impact on many Americans. 

    2. Oil and gas

    The International Energy Agency is planning to hold an emergency meeting today to discuss ways to stabilize oil markets – possibly following suit with President Joe Biden’s decision to release millions of barrels of oil from emergency reserves. Oil prices dropped sharply after Biden’s announcement yesterday, but even the release of a million barrels a day would only cover about a third of lost production from Russia. Industry experts warn that gas prices could still hit new highs in the US this spring and summer. Biden also announced plans yesterday to ramp up domestic production of minerals needed to manufacture batteries for electric vehicles and long-term energy storage. The hope is that by doing so, the US can lessen its dependence on fossil fuels – and be less vulnerable to wild swings in oil prices during international conflicts. 

    House Judiciary Committee Chairman Rep. Jerrold Nadler (D-NY) speaks during a hearing on oversight of the Justice Department and a probe into the politicization of the department under Attorney General William Barr on Capitol Hill, June 24, 2020 in Washington, DC.
    'This race couldn't be closer': Democrat heavyweights compete in NY congressional primary
    02:43 - Source: CNN </