The newsletter discusses the ongoing Senate budget process, highlighting GOP concerns about tax cuts and potential cuts to Medicaid. Senate Republicans are facing challenges in agreeing on the strategy for Trump’s tax plans. The House-approved budget makes it difficult for Republicans to achieve their targets without cutting Medicare or Medicaid. The newsletter also addresses the three key questions regarding Trump’s tariffs: how they will be explained to the public, the economic fallout, and when Americans will benefit from the trade policy. The impact of Trump’s tariffs on markets and the economy is a significant concern, with some Republicans suggesting a need for policy recalibration if negative effects occur. Additionally, the newsletter touches on other news stories, including the extension of the deadline for TikTok’s owner to find a non-Chinese buyer, a voting recount in North Carolina, and recent exits at the NSA and FDA. The mailbag section answers a reader question about Elon Musk’s role in the government, explaining that he is a special government employee without receiving a salary, and abiding by conflict-of-interest rules. The newsletter offers readers the opportunity to provide feedback and sign up for daily updates.
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