“House Democrats’ campaign arm added three battleground candidates to its ‘Red to Blue’ program this morning in another sign that the party is feeling bullish about its prospects for regaining power in the chamber,” the Washington Post reports.
Rick Scott Launches ‘Rescuing America’ Plan
“Sen. Rick Scott is launching a plan for how the country should tackle its growing economic headaches as Republicans face rising voter affordability concerns heading into the midterms,” Politico reports.
“The Florida Republican, who has garnered 2028 White House speculation, will announce the ‘Rescuing America’ project in a video to be published Tuesday.”
Said Scott: “I put together a project with one goal — to educate the American public on how our economy has drastically changed, how the American dream is out of reach for so many, and how we can fix it.”
The Mail Voting Fight Is Pushed to 2028
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Iran Gains Leverage with Strait Under Houthi Control
“A lightning offensive along Yemen’s Red Sea coast by Iranian-backed Houthi militants has strengthened Tehran’s leverage in its war of economic attrition with Washington — giving it the ability to threaten a waterway that plays an even broader role in global shipping than the Strait of Hormuz,” the Washington Post reports.
Iran War Has Caused ‘Strategic’ Munitions Shortfall
“Iranian strikes have damaged or destroyed hundreds of buildings and other structures at bases across the Middle East, and caused about $184 million worth of damage at U.S. diplomatic facilities, according to a Pentagon watchdog report,” the Washington Post reports.
“The inspector general’s report to Congress on Operation Epic Fury — the Trump administration’s name for the war with Iran — also details the extent of U.S. munitions shortages, in the first comprehensive public accounting of the war, which is now in its seventh month.”
House Democrats Face Divisions On Russian Sanctions Bill
“House Democratic leadership is vocally opposing a Russia sanctions bill set to come to a vote this week, but not all of their members are comfortable taking that stance just yet,” Axios reports.
“Republicans will reportedly need some Democratic votes to make up for defections from their isolationist wing and pass the measure.”
“At issue for many Democrats is that the bill, named in honor of the late Sen. Lindsey Graham (R-SC), would allow the Trump administration to impose up to 100% tariffs on the five top importers of Russian oil.”
Politico: Russia sanctions bill clears procedural House hurdle.
How Trump’s Posts Can Still Matter for Investors
“President Trump’s claim that Ukraine agreed to halt strikes on Russian energy targets coincided with a pullback in oil prices and Treasury yields Monday,” Axios reports.
“Why it matters: Ukrainian drone strikes on Russia have crippled large swaths of the country’s refining capacity, creating embarrassing shortages and prompting Russian officials to curtail exports to shore up domestic supplies.”
Bonus Quote of the Day
“I’m interested in politics, but I don’t think it’s helpful for the country to have a former President criticize successors. It’s a hard job to begin with, and I really don’t think it helps to make it any harder.”
— Former President George W. Bush, quoted by the New Yorker, on why he’s stayed mostly silent during the Trump years.
Bush is following his father’s playbook, who refused to attack Bill Clinton despite losing to him in 1992.
Trump Can’t Stop Backing Stuff Americans Hate
New York Magazine: “There was a time not that long ago when Donald Trump had earned a reputation as a populist, someone who bucked the political Establishment — or at least the Republican Establishment — by embracing policy positions that enjoyed widespread voter support.”
“Those days are over. Less than two months from midterm elections that will serve as a referendum on the first half of Trump’s second term in office, he seems to be going out of his way to associate himself with everything voters don’t like.”
How Iran Built Its System of Internet Censorship
“After decades of battling VPNs and other workarounds, Tehran has built a system that keeps most citizens on a controlled national network while giving elites privileged access to the global internet,” Bloomberg reports.
Trump’s Fed Chairman Poised to Hike Rates
“President Trump spent last year demanding rate cuts from the Federal Reserve. Investors now expect his handpicked chairman to reverse course and start raising them this week,” the Wall Street Journal reports.
“The case for raising rates is a measure of how much the outlook has shifted since Kevin Warsh took over the central bank in May. The war with Iran has gone on longer than officials and investors expected and has pushed energy prices higher in recent weeks. New tariffs have taken effect. The AI build-out has strained supply chains for electricity and technology equipment, adding to demand faster than it has added to the economy’s capacity to meet it.”
“That leaves Warsh facing the fight Trump hoped he would avoid when he selected the new chairman.”
Associated Press: Federal Reserve expected to raise its benchmark rate, defying Trump.
Kushner Raised $5 Billion for Fund During Iran Talks
“Jared Kushner was simultaneously ‘raising another five billion dollars’ from the Middle East for his investment firm while also engaging in talks with Iran this year,” Mediaite reports.
10-Year Treasury Yield Rises to Highest Since 2007
“The benchmark 10-year Treasury yield climbed to its highest level since 2007 on Tuesday as a sell-off in U.S. government debt deepened ahead of the Federal Reserve’s interest-rate decision, which could ripple through the economy,” CNBC reports.
Bloomberg: U.S. borrowing costs soar to highest since 2007.
Quote of the Day
“I am the Hoax Buster.”
— President Trump, quoted by Axios, saying fears over AI are way overblown.
Suspicions Swirl Around Third-Party Candidates
Washington Post: “In Pennsylvania, Michigan and Virginia battleground races, independents and Green candidates have popped up as left-wing alternatives to Democrats, even though their social media and voter registration history show them as supporters of President Donald Trump.”
Republicans Are Concerned About Kansas
Washington Post: “It’s an uphill climb for Democrats in a conservative state that backed Trump by 16 percentage points in 2024, one that would have been unthinkable a matter of months ago.”
“But Vance’s appearance in Kansas as campaign season kicks into high gear post-Labor Day signals just how spooked Republicans are as the midterm map tilts in Democrats’ favor. Vance is the party’s top surrogate outside of Trump.”
MAGA Think Tank Staffers Infiltrate Census Bureau
“Multiple staffers at a Trump-aligned policy think tank have burrowed their way into the U.S. Census Bureau, where they have access to sensitive data and have contributed to a public report that bolsters conspiracy theories undermining trust in elections ahead of the midterms,” Wired reports.
U.S. Senate to Vote On Advancing Landmark Crypto Bill
“The U.S. Senate is set to vote on Tuesday on whether to advance once-in-a-generation cryptocurrency legislation, potentially determining the fate of the bill as Republican Senate leaders grapple with a limited calendar in a busy election year,” Reuters reports.
“The bill, dubbed the Clarity Act, would create a regulatory framework for digital assets, which crypto companies say would put them on more solid legal footing. The deep-pocketed industry has spent hundreds of millions of dollars campaigning to advance the bill.”
NPR: This bill could reshape crypto in America — and it’s sparking a major battle.
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