Punchbowl News: “The climate in Washington and across the country — both politically and economically — is making it much more difficult for Republicans to pass a massive tax-and-cut plan. Equity markets are getting rocked. Economists are already saying that a recession is possible. It will be difficult for Republicans to make the case that they should cut government spending. One almost wonders if the president should’ve waited on his tariff regime until after the reconciliation bill was passed.”
“The last two weeks especially – with Trump’s tariff frenzy and the Signal scandal dominating – have left Senate Republicans exhausted and more grumpy than usual during their closed-door meetings, per our conversations with GOP senators this week.”
“And for the budget reconciliation package, the costs of failure could not be higher. A vast majority of Americans would see a tax increase. Remember, too, that Republicans are trying to use the legislation to raise the debt limit, which likely needs to be done by late spring or early summer.”
