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Treasury Secretary Scott Bessent was asked a question by CNN’s Kaitlan Collins:
COLLINS: About the $1.8 billion fund. Is it accurate that the general counsel of the Treasury Department resigned over that?
BESSENT: I will not be taking any other questions.
New York Times: “After Mr. Paxton trounced Senator John Cornyn of Texas by close to 30 points on Tuesday night, transforming Texas into a battleground state, Republicans have performed a very awkward pivot.”
“They quickly memory-holed months of scathing charges against Mr. Paxton that were as withering as any that Democrats might conjure up. And, swallowing their anger about the snub of Mr. Cornyn and its potential political consequences, they lined up to express varying levels of ‘all in’ on Mr. Paxton’s campaign, if not his character.”
“The only thing I want to hear from Jill Biden is I’m sorry.”
— Rep. Adam Smith (D-WA), quoted by CNN, on the former first lady’s book tour.
CBS News: “The White House has yet to release a summary of the results of President Trump’s latest physical exam, following his Tuesday visit to Walter Reed National Military Hospital.”
“Bruce Springsteen, Foo Fighters, Dave Matthews, Brittany Howard and Joan Baez will headline a star-studded protest festival set for the Washington, D.C., area a month before the midterm elections,” the Associated Press reports.
New York Times: “U.S. officials are closing in on a framework for negotiations with Iran that could extend the cease-fire, lead to the reopening of the Strait of Hormuz and set the table for more substantive talks, according to three U.S. officials with knowledge of the discussions.”
“Mr. Trump has not signed off on the emerging framework, and it was not clear if it matched Iran’s understanding.”
Washington Post: “Vice President JD Vance said he is concerned about how artificial intelligence will be used in warfare and urged the military on Thursday to be cautious about the technology, remarks he made as the Pentagon moves forward with using AI on the battlefield.”
CBS News: “Some artists who were announced as performers for what’s being billed as a Great American State Fair amid President Trump’s push for a major American birthday bash this summer in Washington, D.C., dropped out of their appearances shortly after an initial lineup was released.”
NOTUS: “Senate Democrats urged the nonpartisan Congressional Budget Office to check the Trump administration’s math when it comes to Iran war costs — accusing officials of lowballing.”
Amber Phillips: “President Donald Trump’s approval ratings keep dropping. His handling of the economy is deeply unpopular. Even on immigration — one of his stronger issues — he doesn’t have majority support. Several Senate Republicans are now criticizing some of his major priorities, like a $1.8 billion legal payout fund for people who claim they were politically targeted or securing a $1 billion allocation tied to his White House ballroom. And polls show voters say they prefer Democrats over Republicans in Congress next year.”
“November’s midterm elections seem to be shaping up to be rough for the Republican Party, which is trying to hold onto control of Congress, governor’s mansions and some statehouses. So what do Republicans campaign on?”
The Atlantic reviews Jill Biden’s new memoir and includes this tidbit from the 2024 presidential debate:
“As the president walked off the stage, he whispered to his wife, ‘I really fucked up, didn’t I?’ she writes. ‘Yes, you did,’ I whispered back.”
“President Donald Trump isn’t supposed to directly profit from the dismissal of his lawsuit against the IRS,” Politico reports.
“And yet, he could still owe taxes on the money going to set up a central feature of that deal — the $1.8 billion Anti-Weaponization Fund.”
“Some tax practitioners say the way that the fund, which Acting Attorney General Todd Blanche announced May 18, is structured likely makes it an income tax liability for the president, potentially costing hundreds of millions of dollars.”
New York Times: “In a freewheeling first year in office, Mr. Lutnick, one of President Trump’s most influential deputies, has used the power of the federal government in unorthodox and aggressive ways. Some of his tactics have been creative. Others were blunt-force. Still others were downright outlandish.”
“All of them were honed during decades at the helm of the Wall Street investment firm Cantor Fitzgerald, a period in which he amassed wealth and prominence and assumed leadership positions at a dizzying array of corporate entities, at least 818 in all.”
Politico: “MoveOn, the progressive grassroots group, is launching a $27 million investment into an election program aiming to engage one specific kind of voter: skippers. These are the voters who turned out in 2020 but became disaffected with politics and stayed home in 2024.”
“MoveOn’s theory of the case is that enough of these voters exist in this cycle’s most competitive races to make a difference — if they can just get them off the sidelines.”
CNBC: “Inflation continued to hit consumer wallets in April, likely keeping the Federal Reserve on the sidelines until the current wave subsides, fresh pricing data released Thursday showed.”
“The personal consumption expenditures price index increased a seasonally adjusted 0.4% for the month, putting the 12-month inflation rate at 3.8%, the Commerce Department reported.”
Ashley Parker: “President Trump delights in playing what he calls ‘the gay national anthem‘ whenever he wants to rev up a crowd. He’s obsessed with Elton John, was once friendly with Liza Minnelli, and has a Liberace-esque flair for gilded interiors. One of his favorite sports to watch—mixed martial arts—is basically sweaty, semi-naked dudes. And he is a deep and vocal admirer of the physique of fellow men…”
“Some of Trump’s allies note that years before gay marriage was legalized, Trump had gay friends, took pro-gay stances, and allowed gay people to join his private club in Palm Beach starting in the mid-1990s. Ric Grenell became the first openly gay person to hold a Cabinet position when Trump appointed him acting director of national intelligence…”
“To be clear: Trump says he is attracted only to women and, in fact, has been married to three of them. He once hosted the Miss Universe pageant, was caught on tape saying that he loves to grab women “by the pussy,” and was found civilly liable for sexually abusing a woman. Loads more have accused him of sexual misconduct…”
“But there’s also little doubt that Trump has unabashedly embraced the aesthetic—the je ne sais quoi—of a certain kind of gay man.”
New York Times: “Bari Weiss, the editor in chief of CBS News, signaled a new direction for the nation’s top news program on Thursday, replacing the executive producer of ’60 Minutes’ with Nick Bilton, a longtime tech journalist and documentarian who has never worked in traditional broadcast news.”
“The appointment came as part of a significant shake-up at the venerable Sunday evening news program.”
Los Angeles Times/UC Berkeley Poll: “Karen Bass, Nithya Raman and Spencer Pratt are locked in a tight battle for Los Angeles mayor, with incumbent Bass holding what pollsters called a statistically insignificant lead ahead of Tuesday’s primary.”
“Bass had 26% support from likely voters, followed by City Councilmember Raman with 25% support… Pratt, the former reality TV personality making his first bid for elected office, had support from 22% of the likely voters surveyed.”
CNBC: Reality star’s long shot L.A. mayoral candidacy becomes surprise test for Democrats.
Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.
Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.
Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.
Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.
Goddard is the owner of Goddard Media LLC.
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