logo
Another megabill? Senate Republicans have their doubts.

Another megabill? Senate Republicans have their doubts.

Politico4 days ago
And Senate Finance Committee Chair Mike Crapo (R-Idaho) said he's open to considering as many as 200 tax proposals from his members that were ultimately not included in the first megabill.
But most senators have questions about what could go into another reconciliation package — and they're casting doubts on whether it's even politically possible to do this all over again.
'You have to have a reason to do it,' said Sen. Mike Rounds (R-S.D.). 'It's not easy to do, so you have to have a purpose for doing it in the first place.'
That unifying purpose for Republicans the first time around was a desire to deliver Trump a major legislative victory early in his second term and prevent a tax hike that they feared would weaken the economy. Republican leaders' decision to throw in a debt limit extension through 2026 as Treasury warned the nation would soon exceed its borrowing authority added a do-or-die incentive.
'Without the pressure, I don't see how you get it done,' said one Republican senator, granted anonymity to speak freely, about prospects for passing a second reconciliation bill without an existential impetus for action. 'I don't think I see what the pressure is here.'
At the same time, despite the White House's enthusiasm for another reconciliation bill, administration officials have not yet told lawmakers what policies they want considered, according to three people speaking on condition of anonymity.
Sens. Roger Wicker (R-Miss.) and Lindsey Graham (R-S.C.) — chairs of the committees on Armed Services and Budget, respectively — also said before leaving for recess they have not received guidance from the White House. Sen. Ted Cruz (R-Texas), chair of the Senate Commerce Committee, said he still hadn't heard from the administration about its broader set of legislative priorities heading into the fall.
At this point, the loudest reconciliation push in the Senate is coming from deficit hawks like Sen. Ron Johnson, who wants to use another bill to cut spending further than what conservatives were able to achieve in the first package.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ProPhase Labs Inc (PRPH) Q2 2025 Earnings Call Highlights: Strategic Moves and Future Prospects
ProPhase Labs Inc (PRPH) Q2 2025 Earnings Call Highlights: Strategic Moves and Future Prospects

Yahoo

timea few seconds ago

  • Yahoo

ProPhase Labs Inc (PRPH) Q2 2025 Earnings Call Highlights: Strategic Moves and Future Prospects

Release Date: August 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points ProPhase Labs Inc (NASDAQ:PRPH) is pursuing a $50 million cash recovery from COVID-19 receivables through Crown Medical Collections, which could significantly boost the company's market cap. The company has been awarded a patent for its esophageal cancer test, which could potentially save insurance companies billions and improve patient outcomes. ProPhase Labs Inc (NASDAQ:PRPH) has restructured Nebula Genomics, cutting costs and positioning it for potential growth or sale. The company is exploring a crypto treasury strategy, which could attract significant investor interest and potentially raise substantial capital. ProPhase Labs Inc (NASDAQ:PRPH) has a history of successful business pivots, such as its previous success in COVID testing, which generated $100 million in annual revenues. Negative Points The company's stock price is currently low, around $0.35, which may reflect market skepticism or financial challenges. ProPhase Labs Inc (NASDAQ:PRPH) is involved in litigation with insurance companies over COVID-19 receivables, which could be a lengthy and uncertain process. The esophageal cancer test is not yet commercialized, and its success depends on gaining acceptance from key opinion leaders and insurance reimbursement. The company's crypto treasury strategy is still in the early stages, and there is uncertainty about its execution and potential impact. ProPhase Labs Inc (NASDAQ:PRPH) has experienced financial distress due to unexpected changes in COVID-19 testing reimbursements, highlighting potential vulnerabilities in its business model. Q & A Highlights Warning! GuruFocus has detected 7 Warning Signs with PRPH. Q: Very excited on the progress for BSmart. What are the next steps? A: The next steps involve getting a study published in a major journal, which is forthcoming. Following that, we will engage key opinion leaders. Once we have the legitimacy of a published study supported by these leaders, we can start reaching out to hospital networks and gastroenterologists to begin using our test. This process is similar to what Castle Biosciences did with Tissue Safer, and we believe our test is significantly better. Q: When will the esophageal cancer test hit the retail markets? A: This test is not a retail product like Cologuard. It is designed for patients already undergoing endoscopies. The test will be added to the endoscopy process, requiring no additional steps from the patient or doctor other than sending a specimen to our lab. We are not far from commercialization, starting with a group of gastroenterologists and expanding from there. Q: Are you able to give us an update on the timing of when you expect to start collecting from Crown? A: We anticipate being in bankruptcy court within 4 to 8 weeks. Once in court, we will aggressively pursue settlements with insurance companies. Crown Medical has already reached out to about 100 insurance companies, and many have indicated they are willing to settle once we officially file. Q: Can you tell us what line of crypto investing opportunities you're looking at? A: While it's premature to go into specifics, our initial focus is on Bitcoin. We aim to position our company similarly to MicroStrategy, potentially becoming a significant player in the crypto treasury space. We are in discussions with major players and will provide more details in a future press release. Q: Will investors be diluted because of the crypto? We trust TED, but we're afraid. A: We do not have to sell any shares if we choose not to. The goal is to build value, and with potential revenue from Crown Medical and other initiatives, we may not need to raise capital. If we do raise funds, it will be done strategically as the stock price increases, making it anti-dilutive. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Schwarzenegger teases a fight against Newsom over redistricting
Schwarzenegger teases a fight against Newsom over redistricting

The Hill

time2 minutes ago

  • The Hill

Schwarzenegger teases a fight against Newsom over redistricting

Former California Gov. Arnold Schwarzenegger (R) teased a fight with Gov. Gavin Newsom's (D) redistricting push in a post on social media Friday as Democrats in the state look to redraw their maps in response to similar moves in Texas. 'I'm getting ready for the gerrymandering battle,' Schwarzenegger wrote, including a photo of him lifting weights. He also wore a shirt that read 'F*** the politicians' and 'terminate gerrymandering.' California is moving forward with their own plans to redraw their state's map as it looks to neutralize a proposed House map in Texas that would net the Republicans five seats there. 'We're putting maps on the ballot, and we're giving the power to the people,' Newsom said at a rally on Thursday. 'This will be the first redistricting that's ever done that. That's the difference.' California is expected to see a special election over the mid-decade redistricting in November; Newsom has noted the state is not looking to eliminate its independent redistricting commission. But the move has received some criticism, including from those around Schwarzenegger's team. Schwarzenegger helped championed California's independent redistricting commission, which draws the legislative and congressional maps in the state and is seen as a gold standard in fair, redistricting efforts. 'Governor Schwarzenegger has a 20 year history of battling gerrymandering, taking power from the politicians and returning it to the people where it belongs, and he believes gerrymandering is evil no matter who does it. He still stands by the rule we learn in pre-school: two wrongs don't make a right,' Daniel Ketchell, a spokesman for the former governor, said in a statement earlier this year. 'He will continue to be on the side of the people and not politicians – from either party – on this issue,' he added.

President Trump ramps up takeover of Washington's police department. Here's what to know.
President Trump ramps up takeover of Washington's police department. Here's what to know.

Boston Globe

time2 minutes ago

  • Boston Globe

President Trump ramps up takeover of Washington's police department. Here's what to know.

Why is Trump taking over the police in DC? The Republican president this week announced he's taking control over Washington's police department and activating National Guard troops to reduce crime, an escalation of his aggressive approach to law enforcement. But District of Columbia officials say the action isn't needed, pointing out that violent crime in the district reached historic 30-year lows last year and is down significantly again this year. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Can he do that? Advertisement D.C.'s status as a congressionally established federal district gives Trump a window to assert more control over the the district than other cities. D.C. Mayor Muriel Bowser didn't offer much resistance at first, allowing city workers to clear homeless encampments and work closely with federal immigration agents. But on Friday, the heavily Democratic district asked for an emergency court order blocking Trump officials from putting a federal official in charge of D.C. police. So who is in charge of police in Washington? Right now, it's unsettled. Trump's administration announced Thursday that the head of the Drug Enforcement Administration will take over the police chief's duties, including authority over orders issued to officers. It's unclear where the move leaves the city's current police chief, Pamela Smith, who works for the mayor. Smith says upending the command structure would be a 'dangerous' threat to law and order. Advertisement What's at stake The showdown in Washington is the latest attempt by Trump to test the boundaries of his legal authority to carry out his tough-on-crime agenda, relying on obscure statutes and a supposed state of emergency to speed up the mass deportation of people in the United States illegally. What are the federal troops doing in DC? About 800 National Guard troops are being activated, with Humvees parked along the Washington Monument and near Union Station. Troops have been spotted standing outside baseball's Nationals Park and neighborhood restaurants. The White House says guard members aren't making arrests but are protecting law enforcement officers who are making arrests and helping deter violent crime. Trump says one of the objectives will be moving homeless people far from the city. How long can this go on? Trump has the authority to do this for 30 days and says he might look into extending it. But that would require congressional approval. Whether Republicans in Congress would go along with that is unclear. Some D.C. residents have protested against the increased police presence. For some, the action echoes uncomfortable historical chapters when politicians used language to paint predominantly Black cities with racist narratives to shape public opinion and justify police action. Will Trump try to take control in other US cities? Washington is very different from any other American city, and the rules that govern it give the federal government much more control than it would have anywhere else. Whether Trump is using this as a blueprint for how to approach cities — largely Democratic cities — that he wants to exert more control over remains to be seen. Advertisement

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store