“Elon Musk’s net worth fell by $22.2 billion Tuesday — his fourth-largest one-day loss — as stock markets faltered on skepticism about potential tariffs and ongoing federal cost-cutting efforts,” Bloomberg reports.
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Quote of the Day
“I know some Russian oligarchs that are very nice people.”
— President Trump, quoted by Reuters, on creating a “gold card” to create a path to citizenship for anyone who pays $5 million.
Byron Donalds Confirms He’ll Run for Florida Governor
Rep. Byron Donalds (R-FL), fresh off President Trump’s preemptive endorsement, told Fox News last night that he’ll run for governor of Florida.
Politico: Trump-endorsed Byron Donalds makes run for Florida governor official.
EPA Tells White House to Strike Down Climate Finding
“Environmental Protection Agency Administrator Lee Zeldin has privately urged the White House to strike down a scientific finding underpinning much of the federal government’s push to combat climate change,” the Washington Post reports.
“The 2009 ‘endangerment finding’ cleared the way for regulating greenhouse gases under the Clean Air Act by concluding that the planet-warming gases pose a threat to public health and welfare. Both the Obama and Biden administrations used that determination to set strict limits on emissions from cars and power plants.”
America’s New Friends
Peter Baker: “If the old saying is true, that you are known by who your friends are, then President Trump may be telling the world something about who he plans to be in this second term.”
“In a move that redrew the international order, Mr. Trump this week had the United States vote against a U.N. General Assembly resolution condemning Russia’s invasion of Ukraine on the third anniversary of the war.”
“Among the countries that Mr. Trump joined in siding with Russia? North Korea, Belarus and Sudan.”
“Those he stood against? Britain, France, Germany, Canada, Italy, Japan and most of the rest of the world.”
Russia Offers U.S. Deal for Minerals in Seized Territory
“Russia has proposed to the Trump administration a potential agreement under which the United States would gain some ownership of rare earth minerals and other valuable metals in parts of Ukraine controlled by the Russian military,” NBC News reports.
The Trump Staffers Who Get Paid by Private Clients
Wall Street Journal: “They carry a three-letter designation that allows them to wear both hats: ‘SGE,’ or special government employee. It’s a status under federal ethics laws that permits private-sector employees to work inside the government without having to relinquish their outside salaries or investments.”
“Only a sliver of cases must publicly disclose clients or potential conflicts of interest. While the rules limit work to up to 130 days in any given year, it can be extended if the administration desires.”
House Republicans Hit the Brakes on Town Halls
“House Republicans are becoming weary and wary of in-person town hall meetings after a number of lawmakers have faced hometown crowds angry about the Trump administration’s push to slash government programs and staffing,” NBC News reports.
“Party leaders suggest that if lawmakers feel the need to hold such events, they do tele-town halls or at least vet attendees to avoid scenes that become viral clips, according to GOP sources.”
“A GOP aide said House Republican leaders are urging lawmakers to stop engaging in them altogether.”
DOGE Sows Turmoil In It’s Quest for ‘Efficiency’
“President Donald Trump promised to make the federal government more efficient — to do more with less. He even deputized billionaire Elon Musk to be the face of a new Department of Government Efficiency,” NBC News reports.
“But critics say Musk’s chainsaw approach to slashing government programs, contracts and workers is having the opposite effect, sowing such confusion that it has hamstrung the bureaucracy’s ability to serve the public and even carry out key parts of Trump’s own agenda.”
Washington Post: Musk fights back as some Trump aides resist intensifying DOGE push.
CNN: A nascent backlash against Musk sharpens risk for Trump and GOP.
Musk’s Whirlwind Approach Sparks Rift in White House
“When billionaire Elon Musk posted on X last weekend that all federal employees would soon receive an email demanding details of their work from the past week, senior White House officials — who had not been fully briefed on the plan — were initially caught off guard,” ABC News reports.
“Musk’s email would then set off widespread confusion across the federal government. It created tension among members of Trump’s Cabinet, as multiple agency heads told their employees to hold off on replying until they themselves were briefed on the situation.”
Washington Examiner: Senate Republicans want Trump Cabinet to take cost-cutting reins from Musk.
Gavin Newsom Is Launching His Own Podcast
“Gavin Newsom will soon host his own podcast where the California governor will mix it up with MAGA personalities, open his vast Rolodex for frank conversations with Democrats about how to come back from the wilderness and break news on consequential policy decisions,” Politico reports.
“The solo venture from a likely presidential aspirant comes as Democrats writ large struggle to keep pace with the onslaught of actions from President Donald Trump and Republicans. Leaders from across the minority party are casting about for a compelling message while trying to break through in an increasingly siloed media environment. The podcast space, with its proliferation of Trump-friendly personalities, has proven especially challenging for Democrats.”
Now Comes the Hard Part for Mike Johnson
Punchbowl News: “The House’s dramatic passage of Republicans’ multi-trillion dollar budget resolution Tuesday evening marked the biggest victory of Johnson’s brief leadership career. It was the result of weeks of hard work and intense focus amid the chaos of President Donald Trump’s Washington. It also was a victory against a GOP-run Senate that was in direct conflict with him.”
“But make no mistake — Johnson couldn’t have done this without Trump. Less than two months ago, Johnson survived a cliffhanger speaker vote only because of Trump. Johnson can now lay the groundwork for major spending and tax cuts, but Trump will have to close the deal. It’ll be the same for Senate Majority Leader John Thune in the Senate.”
New York Times: Here’s what’s in the bill.
Egg Prices Predicted to Soar
Egg prices are predicted to increase by 41.1% in 2025, according to a report released by the Department of Agriculture, ABC News reports.
In January, the federal agency had predicted a 20% increase.
House Advances Trump’s Budget Blueprint
After some significant drama on the House floor, Republicans advanced President Trump’s budget blueprint, 217 to 215.
Every single Republican lawmaker with doubts folded — except Rep. Thomas Massie (R-KY).
It’s a big win for Speaker Mike Johnson.
House GOP Suddenly Reverses On Budget Vote
In an abrupt shift, House Republicans have decided to bring up the budget resolution for a vote tonight, Punchbowl News reports.
Moments after pulling the bill from consideration, the House GOP leadership decided to bring the bill back up.
Jake Sherman: “In my 15+ years covering congress, i’ve never seen the leadership cancel a vote, send lawmakers home and then abruptly switch course and put the vote up — all within the course of about 10 minutes.”
Greene Says Federal Workers Don’t Deserve Paychecks
Rep. Marjorie Taylor Greene (R-GA) trashed federal workers at a congressional hearing, stating that none of them “deserve” paychecks.
Said Greene: “The bureaucracy is not a business. Those are not real jobs producing federal revenue. By the way, they’re consuming taxpayer dollars. Those jobs are paid for by the American tax people who work real jobs, earn real income, pay federal taxes, and then pay these federal employees. Federal employees do not deserve their jobs. Federal employees do not deserve their paychecks.”
Next Phase of Trump’s Work Force Cuts Underway
“The next phase in the Trump administration’s effort to rapidly downsize the federal work force was well underway on Tuesday as confusion roiled through the ranks over how employees should respond to an ultimatum from Elon Musk to justify their roles or be fired,” the New York Times reports.
“Since Sunday afternoon, at least three independent agencies have formally alerted staff members of upcoming dismissals through a ‘reduction in force’ process ordered by President Trump.”
Americans Are Bracing for Higher Prices
“Fresh off the worst inflation shock in decades, Americans are once again bracing for higher prices,” the New York Times reports.
“Expectations about future inflation have started to move up, according to metrics closely watched by officials at the Federal Reserve. So far, the data, including a consumer survey from the University of Michigan and market-based measures of investors’ expectations, does not suggest that price pressures are perceived to be on the verge of spiraling out of control.”
“But the recent jump has been significant enough to warrant attention, stoking yet more uncertainty about an economic outlook already clouded by President Trump’s ever-evolving approach to trade, immigration, taxation and other policy areas.”
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