“A ferocious advertising campaign is underway with passage of President Donald Trump’s landmark policy bill hanging in the balance, as political groups and business interests spent at least $35 million just this month to try to sway key members of Congress and their constituents,” CNN reports.
Senate GOP Upends Rules with Accounting Gimmick
New York Times: “This time around, Senate Republicans are instead invoking an alternative accounting method that wipes away the cost of extending tax cuts already in place. Republicans argue that the tax cuts they originally passed in 2017, which expire at the end of the year, should be baked into the country’s fiscal forecasts even though Congress has not yet actually renewed them. By that logic, the $3.8 trillion cost of extending the 2017 cuts is zero, and those cuts can be extended for decades even though reconciliation’s rules prohibit long-term deficit increases.”
“The entire Senate Republican bill relies on this view of the tax cuts’ costs. Without this accounting assumption, the legislation would run afoul of Senate rules and require Republicans to rework the entire 940-page project, which President Trump has demanded be ready for his signature by July 4.”
Wall Street Journal: GOP declares tax-cut extensions “free” to obscure megabill’s cost.
Trump Celebrates Tillis Not Running for Re-Election
President Trump celebrated the retirement announcement of one of the two Republicans who voted against advancing his “big, beautiful bill,” Fox News reports.
Said Trump: “Great News! ‘Senator’ Thom Tillis will not be seeking reelection.”
He added: “For all cost-cutting Republicans, of which I am one, REMEMBER, you still have to get reelected. Don’t go too crazy! We will make it all up, times 10, with GROWTH, more than ever before.”
Trump Calls on Senate to Overrule Parliamentarian
President Trump urged Senate Republicans on Sunday to overrule the chamber’s parliamentarian in order to pass key parts of his sweeping domestic policy bill, The Hill reports.
A Few Thoughts on the ‘Big, Beautiful Bill’
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Bonus Quote of the Day
“This bill is a real piece of shit it and it would be excellent if that’s all anyone talked about for the next few days. Super interested in your think piece about the NYC mayor’s race but let’s get to that after we try to stop the biggest wealth transfer in American history.”
— Sen. Brian Schatz (D-HI), on X, about the GOP megabill.
Where the Big, Beautiful Bill Stands
Playbook: “At this 11th hour, the megabill is effectively duct-taped together.”
Louisiana Hospitals Predict ‘Devastation’
Every major health system in Louisiana is warning Speaker Mike Johnson and the rest of the state’s congressional delegation that the Senate GOP’s planned Medicaid cuts “would be historic in their devastation,” Politico reports.
Trump Will Give ‘Temporary Pass’ for Some Migrants
“President Trump said that there will be a temporary pass issued for migrants working at farms and in the hospitality industry to allow employers to have more control after the administration sent mixed messages about exceptions in its mass deportation efforts,” The Hill reports.
Thom Tillis Will Not Run Again
Sen. Thom Tillis, a Republican who has represented North Carolina in Washington for a decade and has clashed with President Donald Trump as recently as Saturday, announced Sunday he will not seek reelection, the Raleigh News and Observer reports.
Politico: “Tillis made the announcement after voting ‘no’ on a procedural vote to advance President Donald Trump’s ‘big, beautiful bill’ — the cornerstone of his domestic policy agenda. Trump subsequently attacked Tillis in a series of social media posts.”
Axios: Trump goes scorched earth on Thom Tillis over “big, beautiful bill.”
White House Eyes Lawmaker to Challenge Massie
“White House officials will host Kentucky state Sen. Aaron Reed in the coming weeks for a discussion about challenging GOP Rep. Thomas Massie in next year’s Republican primary,” Politico reports.
Quote of the Day
“I don’t think that we should have billionaires.”
— New York City mayoral candidate Zohran Mamdani, on NBC News.
Trump Threatens to Withhold Money from NYC
President Trump said that Democratic mayoral candidate Zohran Mamdani has to “do the right thing” if he’s elected, “or they’re not getting any money,” CNBC reports.
Said Trump: “Whoever’s mayor of New York is going to have to behave themselves, or the federal government is coming down very tough on them financially.”
Intercepted Call Downplayed Damage of U.S. Attack
“The United States obtained intercepted communication between senior Iranian officials discussing this month’s military strikes on Iran’s nuclear program and remarking that the attack was less devastating than they had expected,” the Washington Post reports.
“The communication, intended to be private, included Iranian government officials speculating as to why the strikes directed by President Donald Trump were not as destructive and extensive as they anticipated.”
Trump Doesn’t Expect to Extend Tariff Deadline
President Trump said he doesn’t think he’ll need to extend the July 9 trade deadline he has imposed on countries to secure deals with the US to avoid higher tariffs, Bloomberg reports.
Said Trump: “I don’t think I’ll need to.”
He then added: “I could, no big deal.”
Trump Says Iran Might Get Sanctions Relief
President Trump suggested he might back eventual sanctions relief for Iran “if they can be peaceful,” combining threats and the prospect of diplomacy after US strikes aimed at destroying Iranian nuclear sites, Bloomberg reports.
Said Trump: “We have the sanctions on. And if they do a job, and if they can be peaceful, and if they can show us they’re not going to do any more harm, I would take the sanctions off.”
GOP Megabill Would Add $3.3 Trillion to Debt
The CBO estimates that the Republican reconciliation bill that the Senate is considering will increase the deficit by nearly $3.3 trillion between 2025 to 2034, Bloomberg reports.
Punchbowl News says Senate Republicans and the White House reject the CBO estimate as inaccurate. The White House estimates it will cut the deficit by $4.9 trillion over the next decade.
Iran Could Restart Enriching Uranium in Months
“Iran could start producing enriched uranium again ‘in a matter of months’, the head of the UN’s nuclear watchdog said, adding there is no military solution to stop Iran from a nuclear weapon,” the Financial Times reports.
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