Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan “presented a government spending strategy intended to minimize the threat of a politically debilitating government funding lapse over border wall funding. And Trump seemed receptive,” Politico reports.

“Trump made clear to the GOP leaders that he still wants a $5 billion down payment on his wall this year, but he signaled to the leaders that he might be willing to wage that fight after the midterms. Though the House plans to pass a spending bill giving Trump $5 billion for the wall, Senate Democrats are unlikely to agree to fund more than the $1.6 billion initially requested by the Trump administration — meaning any attempt to fund the Department of Homeland Security could lead to a shutdown.”

James Hohmann: “To be sure, Trump changes his mind all the time. And just because he agrees to something today does not mean he won’t change his mind tomorrow. He’s officially endorsed bills, for example, only to equivocate after seeing a negative segment on Fox News.”

“The amount of corporate taxes collected by the federal government has plunged to historically low levels in the first six months of the year, pushing up the federal budget deficit much faster than economists had predicted,” the New York Times reports.

“The reason is President Trump’s tax cuts. The law introduced a standard corporate rate of 21 percent, down from a high of 35 percent, and allowed companies to immediately deduct many new investments. As companies operate with lower taxes and a greater ability to reduce what they owe, the federal government is receiving far less than it would have before the overhaul.”