Update 876 – Reconciliation vs. Clock:GOP Struggles to Meet Trump Deadline Hill Republicans are currently racing to pass a massive reconciliation bill – coined the “One Big Beautiful Bill Act” (OBBB) – comprising much of Trump’s economic agenda for his second term. The problem? Trump’s relentless pressure to get the measure to his desk by …
Update 876: GOP Struggles to Meet Trump Deadline Read More »
Update 877 – Rulings and OBBB Process,Mamdani Win, Prices, Entitlement Reports The Senate parliamentarian continued her review of the GOP’s reconciliation bill (OBBB) this week, shooting down Medicaid cuts crucial to the fiscal balance of the bill. This straw may have broken the camel’s back, as calls to overrule or dismiss the Senate’s referee following …
Update 876: GOP Struggles to Meet Trump Deadline Read More »
Update 875 – OBBB Senate Obstacles,Fed Freeze, Genius Act Vote Lead Week With the Senate Finance Committee’s text for the GOP One Big Beautiful Bill (OBBB) released this week, we now have a full picture of the Senate’s approach to reconciliation. Though expected to be a more moderate version of the House bill that passed …
Update 872– The Trump-Musk Meltdown:Elon Attacks OBBB… But to Any Effect? Yesterday, President Trump and Elon Musk’s disagreement over the projected deficit impact of Trump’s reconciliation package erupted into public view on social media. While the dust seems to have settled somewhat as of today, this split raises questions about Musk’s political influence going forward. …
Update 868 – Reconciliation Halted:House Budget Stops Massive Tax Bill In a somewhat surprising turn of events today, the House Budget Committee rejected the GOP reconciliation blueprint, with four Republicans joining Democrats in opposition. The Republican defectors cited concerns over the proposal’s overall deficit impact, as well as delays in implementing cost-reduction measures like Medicaid …
Update 867 – House Marathon Mark-ups:Reconciliation Tax, Spending Cuts OK’ed This week, the House Ways and Means, Energy and Commerce, and Agriculture Committees approved their portions of the GOP’s reconciliation bill following grueling, multiday markups. The harmful committee proposals pair $3.8 trillion in net tax cuts over ten years – a fourth of which would …
Update 866 – GENIUS Fails Senate Test;Reconciliation Faces Test next Tuesday Yesterday, after trying to muscle Democrats into moving forward with the first major piece of crypto legislation this Congress, Senate Majority Leader John Thune faced an embarrassing setback when the GENIUS Act failed to get cloture, falling short by a surprisingly wide margin. The …
Update 864 – GDP Contracts by 0.3%;Trump Skins FY26 Domestic Spending Three key pieces of economic data were released this week. The Fed’s preferred measure of inflation ticked down to 2.3 percent in March, nearing the Fed’s two percent target, while a strong 177,000 jobs were added to the economy and unemployment remained unchanged at …
Update 863 – A Tariffying 100 Days:GDP, Markets, Polling All in Retreat Yesterday marked 100 days since Trump began his second term, a period marked by chaotic and unpredictable shifts in economic policy and a prioritization of Wall Street and the wealthy at the expense of everyday people. His administration, with acquiescence by congressional Republicans, …
Update 859: Less Enforcement, Broader BreaksTrump IRS Could Threaten America’s Tax System Millions of Americans filed their taxes this week ahead of yesterday’s filing deadline. But this year’s tax day comes amid the Trump administration’s attempts to dismantle the Internal Revenue Service (IRS), the very body responsible for collecting tax revenue used to fund important …
