What to look out for in Joe Biden's second state of the union speech

President Joe Biden will speak to a joint session of Congress on Tuesday evening against the backdrop of renewed tensions with China and a brewing showdown with House Republicans over raising the federal debt ceiling. The downing of an alleged Chinese surveillance balloon that is hampering efforts to improve ties with Beijing and the specter of a US default that threatens to wreak havoc on the US economy will have investors, diplomats and lawmakers looking for reassurance as the president two challenges with international ramifications. Biden plans to call for a minimum tax on billionaires and quadrupling the levy on stock buybacks, items that stand little chance of passing through the divided Congress but could resonate with the public. Biden will also nod at the "Economic anxiety" many Americans are facing while also explaining how his policies will improve their situations, White House economic adviser Brian Deese said Monday.