Feel like Congress doesn't care what you want? You're right.
Polls show most of the public opposes the legislation. Its two primary attributes are that it increases the deficit by more than $3 trillion and cuts social safety net programs by upward of $1 trillion. Republicans are supposed to hate the former; Democrats, the latter. Nearly 60 percent of Americans say reducing the federal budget deficit should be a top priority, and more than 80 percent have a favorable view of Medicaid. But instead of dying in committee, the sweeping bill that defies both public opinion and the parties' core ideologies passed Congress on Thursday, and Trump signed it into law at a White House ceremony featuring a military flyover and a crowing gaggle of politicians who claim to have the people's mandate. Which part of this democratic process is supposed to be appealing?
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Axios
11 minutes ago
- Axios
House "crypto week" could change how Americans use, save money
A few years ago crypto was mostly a pariah in the financial services industry. Now, at the urging of the "first crypto president," Congress is on the verge of remaking American finance to embrace it. Why it matters: "Crypto week" could change everything from how Americans make payments to how they invest. It would also grant further legitimacy to an industry that has made the president and his family sudden billions of dollars. State of play: House Republicans declared the next five days Crypto Week, sending a clear message on legislative priorities after passing President Trump's "big, beautiful bill." The agenda for next week consists of three bills. One is stablecoin legislation, and sources familiar with the plans tell Axios that the Senate-passed bill, known as the GENIUS Act, will get a straight-up vote next week. Stablecoins are how dollars go on blockchains, and they enable super-fast, super-cheap global payments. They started as liquidity for crypto traders, but now companies use them for global payroll. The bill would establish rules for who could issue stablecoins and how they manage them. It is expected to lead to a surge of new products and participation from traditional finance firms. How it works: The legislation would "spur more comfort among retailers and others to begin accepting stablecoins as payment," says Tony Tuths, tax principal in KPMG's alternative investment tax practice. Financial markets, meanwhile, could start to move funds in stablecoins — as opposed to cash — for faster settlements with less cost, he added. That could profoundly change how payments are made and processed in the U.S., putting pressure on traditional payment networks like Visa and Mastercard. Market structure legislation is the other big one the table. It would create a framework for regulating broader crypto issuance and trading. If passed — the Senate is currently drafting its own version — it would establish a new category of registered digital assets, flashing a green light for traditional finance. More crypto related products would be expected to enter the mainstream market through retail brokerage accounts, Tuths says, "thereby opening a floodgate of retail capital into the crypto trading ecosystem." The third bill slated for this week is to prevent the Fed from ever creating a digital version of official U.S. currency, or a central bank digital currency (CBDC). Conservatives oppose the concept because they think it would mean more government intrusion into peoples' private lives. What they're saying: "It's one of these industries that, for a very, very, very long time has sought legitimization, either through getting these activities regulated at higher levels around the world, or through, of course, proving their real world use cases," Dante Disparte, head of global policy for stablecoin issuer Circle, tells Axios. Zoom out: So why now? For lawmakers, pressure to move is coming from a couple of different places — the president promising to deliver wins for the industry, plus a trio of linked PACs with more than $100 million on hand keeping tabs on how lawmakers vote. It's a whole different world from when the nation's leading crypto company, Coinbase, requested rule making and got sued by the Biden administration instead. Friction point: Several Democrats will be pushing back next week. Maxine Waters (D-Calif.), the top Dem on the House Financial Services Committee, is calling next week"Anti-Crypto Corruption Week," calling all three bills "dangerous pieces of crypto legislation." At the center of many Democrats' resistance is President Trump himself, due to his family's considerable personal investments in cryptocurrency putting a the specter of corruption risks over the process. The bottom line: Republican leadership is likely to relish these votes, because they know 90% of their members will fall in line.
Newsweek
17 minutes ago
- Newsweek
Democrat Ro Khanna Demands Vote To Release Full Jeffrey Epstein Files
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Representative Ro Khanna (D‑CA) has announced plans to force a vote in the House of Representatives demanding the full, unredacted release of all documents related to disgraced financier and convicted sex offender Jeffrey Epstein. In a post on X, formerly Twitter, Khanna said he will introduce an amendment this week that would require the House Speaker to bring the measure to a roll-call vote, putting every member of Congress on the record. Newsweek contacted Khanna's team via email and House Speaker Mike Johnson via online form for comment outside of usual working hours on Sunday. The Context As reported by Newsweek, Epstein, who died in prison six years ago while facing sex trafficking charges, had maintained close ties with numerous high-profile figures around the world. Though his death was officially ruled a suicide, speculation has persisted for years that he may have been murdered to prevent the release of a so-called "client list," a roster some believe could implicate prominent political figures, including President Donald Trump, former President Bill Clinton, and the U.K.'s Prince Andrew. After being accused of sexual abuse connected to the Epstein scandal, Prince Andrew denied all accusations against him and resigned from royal duties in 2020. Clinton maintains that he did not have any contact with Epstein after the financier was accused of sex crimes, and never visited his now-infamous private island of Little St. James in the U.S. Virgin Islands. The controversy was reignited last month when billionaire Elon Musk alleged, in a since-deleted social media post, that the government had withheld Epstein-related records because "Trump is in the Epstein files." The president dismissed the claim, saying he "had nothing to do with it," but it sparked further interest in the government's records. Trump has denied any wrongdoing in connection with Epstein, although they were known to have interacted in social and professional circles in the early 2000s. The former president distanced himself from Epstein after the financier admitted soliciting prostitution from a minor in Florida and was sentenced to 18 months in prison in June, 2008. During his 2024 presidential campaign, Trump pledged to make Epstein-related files public. A partial release occurred in February, overseen by Attorney General Pam Bondi. But earlier this week, both Trump and Bondi announced that their investigation had turned up "no incriminating 'client list,'" prompting sharp criticism from Democrats, and even backlash from some of Trump's own MAGA supporters who had anticipated deeper revelations. A memo, first reported by Axios, said investigators found "no incriminating 'client list'" and "no credible evidence ... that Epstein blackmailed prominent individuals." It also said video footage from the Manhattan jail where Epstein was being held when he died supported a medical examiner's finding that he had died by suicide. In a TruthSocial post on Saturday, Trump urged others to "not waste Time and Energy on Jeffrey Epstein, somebody that nobody cares about." Rep. Ro Khanna (D-CA) questions witnesses during a roundtable discussion on Supreme Court Ethics conducted by Democrats of the House Oversight and Accountability Committee at the Rayburn House Office Building on June 11, 2024 in... Rep. Ro Khanna (D-CA) questions witnesses during a roundtable discussion on Supreme Court Ethics conducted by Democrats of the House Oversight and Accountability Committee at the Rayburn House Office Building on June 11, 2024 in Washington, D.C. MoreforWhat To Know Late Saturday, Khanna posted to his X account: "Why are the Epstein files still hidden? Who are the rich & powerful being protected? On Tuesday, I'm introducing an amendment to force a vote demanding the FULL Epstein files be released to the public. The Speaker must call a vote & put every Congress member on record." The post has since had over 432k views. Khanna's initiative is seen as a way to hold both Congress and the Justice Department accountable, especially as the Department of Justice (DOJ), led by Trump-appointed officials, including Bondi, recently reversed its previous commitment to release more documents. The move is also politically strategic. If Khanna's proposal is accepted, it would force a House vote on releasing the full Epstein files, allowing the public to see how each representative stands on the matter, with many praising it as a savvy political move that puts pressure on those trying to avoid scrutiny. This comes after months of mounting bipartisan frustration. Though Democrats have led the charge, some Republican voices have also joined the call for full transparency. However, the Justice Department's decision to halt further disclosures has renewed criticism that the agency is protecting politically sensitive figures. Earlier this month, congressional Democrats, led by Rep. Jamie Raskin, called for the release of any documents mentioning Trump. What People Are Saying In response to criticism of his proposal on X, Khanna said: "This is about transparency and restoring trust, not partisan politics. The public outcry is apparent. The files should be fully released and can be done so consistent with DOJ principles of protecting victims and the innocent." What Happens Next Even if the measure fails, Khanna's supporters argue it will create a clear public record—either the files will be released, or voters will know exactly who stood in the way. With trust in government transparency at stake, the coming vote could mark a pivotal moment in the long-running Epstein saga.
Hamilton Spectator
24 minutes ago
- Hamilton Spectator
‘Beautiful' or ‘Ugly,' Trump's big bill shapes the battle for House control in 2026 midterms
WASHINGTON (AP) — Debate over President Donald Trump's sweeping budget-and-policy package is over on Capitol Hill. Now the argument goes national. From the Central Valley of California to Midwestern battlegrounds and suburban districts of the northeast, the new law already is shaping the 2026 midterm battle for control of the House of Representatives. The outcome will set the tone for Trump's final two years in the Oval Office. Democrats need a net gain of three House seats to break the GOP's chokehold on Washington and reestablish a power center to counter Trump. There's added pressure to flip the House given that midterm Senate contests are concentrated in Republican-leaning states, making it harder for Democrats to reclaim that chamber. As Republicans see it, they've now delivered broad tax cuts, an unprecedented investment in immigration enforcement and new restraints on social safety net programs. Democrats see a law that rolls back health insurance access and raises costs for middle-class Americans while cutting taxes mostly for the rich, curtailing green energy initiatives and restricting some workers' organizing rights. 'It represents the broken promise they made to the American people,' said Rep. Suzan DelBene, a Washington Democrat who chairs the party's House campaign arm. 'We're going to continue to hold Republicans accountable for this vote.' Parties gear up for a fight Whether voters see it that way will be determined on a district-by-district level, but the battle will be more intense in some places than others. Among the 435 House districts, only 69 contests were decided by less than 10 percentage points in the 2024 general election. The Democratic Congressional Campaign Committee has so far identified 26 Democratic-held seats it must defend vigorously, along with 34 GOP-held seats it believes could be ripe to flip. Republicans' campaign arm, the National Republican Congressional Committee, has so far listed 18 GOP incumbents as priorities, plus two districts opened by retirements. There are a historically low number of so-called crossover districts: Only 13 Democrats represent districts Trump carried in 2024, while just three Republicans serve districts Democratic presidential nominee Kamala Harris carried. Both committees are busy recruiting challengers and open-seat candidates and more retirements could come, so the competitive map will evolve. Still, there are clusters of districts guaranteed to influence the national result. California, despite its clear lean to Democrats statewide, has at least nine House districts expected to be up for grabs: three in the Central Valley and six in southern California. Six are held by Democrats, three by the GOP. Pennsylvania features four districts that have been among the closest national House races for several consecutive cycles. They include a suburban Philadelphia seat represented by Rep. Brian Fitzpatrick, one of just two House Republicans to vote against Trump's bill and one of the three GOP lawmakers from a district Harris won. Fitzpatrick cited the Medicaid cuts. Vice President JD Vance plans on Wednesday to be in Republican Rep. Rob Bresnahan's northwest Pennsylvania district to tout the GOP package. Bresnahan's seat is a top Democratic target. Iowa and Wisconsin, meanwhile, feature four contiguous GOP-held districts in farm-heavy regions where voters could be swayed by fallout from Trump's tariffs. Democrats fight to define the GOP Beyond bumper-sticker labels – Trump's preferred 'Big Beautiful Bill' versus Democrats' 'Big Ugly Bill' retort – the 900-page law is, in fact, an array of policies with varying impact. Democrats hammer Medicaid and food assistance cuts, some timed to take full effect only after the 2026 midterms, along with Republicans' refusal to extend tax credits to some people who obtained health insurance through the Affordable Care Act. The Congressional Budget Office estimates that 11.8 million more Americans would become uninsured by 2034 if the bill became law; 3 million more would not qualify for food stamps, also known as SNAP benefits. 'Folks will die here in Louisiana and in other parts of the country,' House Minority Leader Jeffries warned last week during a town hall in Republican Speaker Mike Johnson's home state of Louisiana. Jeffries singled out vulnerable Republicans like California Rep. David Valadao, who represents a heavily agricultural Central Valley district where more than half the population is eligible for the joint state-federal insurance program. California allows immigrants with legal status and those who are undocumented to qualify for Medicaid, so not all Medicaid recipients are voters. But the program helps finance the overall health care system, including nursing homes and hospitals. Republicans highlight the law's tightened work requirements for Medicaid enrollees. They argue it's a popular provision that will strengthen the program. 'I voted for this bill because it does preserve the Medicaid program for its intended recipients — children, pregnant women, the disabled, and elderly,' Valadao said. 'I know how important the program is for my constituents.' Republicans hope voter s see lower taxes The law includes $4.5 trillion in tax cuts. It makes permanent existing rates and brackets approved during Trump's first term. Republicans and their allies have hammered vulnerable Democrats for 'raising costs' on American households by opposing the bill. GOP campaign aides point to the popularity of individual provisions: boosting the $2,000 child tax credit to $2,200 (some families at lower income levels would not get the full credit), new deductions on tip and overtime income and auto loans; and a new deduction for older adults earning less than $75,000 a year. 'Everyone will have more take home pay. They'll have more jobs and opportunity,' Johnson said in a Fox News Sunday interview. 'The economy will be doing better and we'll be able to point to that as the obvious result of what we did.' Democrats note that the biggest beneficiaries of Trump's tax code are wealthy Americans and corporations. Pairing that with safety net cuts, Florida Rep. Debbie Wasserman Schultz concluded, 'The cruelty is the point.' Immigration, meanwhile, was Trump's strongest issue in 2024. NRCC aides say that will continue with the new law's investments in immigration enforcement. Democrats believe the Trump administration has overplayed its hand with its push for mass deportation. Playing the Trump card The president is a titanic variable. Democrats point to 2018, when they notched a 40-seat net gain in House seats to take control away from the GOP. This year, Democrats have enjoyed a double-digit swing in special elections around the country when compared to 2024 presidential results. Similar trends emerged in 2017 after Trump's 2016 victory. Democrats say that reflects voter discontent with Trump once he's actually in charge. Republicans answer that Trump's job approval remains higher at this point than in 2017. But the GOP's effort is further complicated by ongoing realignments: Since Trump's emergence, Democrats have gained affluent white voters -– like those in suburban swing districts -– while Trump has drawn more working-class voters across racial and ethnic groups. But Republicans face a stiffer challenge of replicating Trump's coalition in a midterm election without him on the ballot. Democrats, meanwhile, must corral voters who are not a threat to vote for Republicans but could stay home. Jeffries said he's determined not to let that happen. 'We're going to do everything we can until we end this national nightmare.' —- Cooper reported from Phoenix. Brook reported from New Orleans. Associated Press reporters Michael Blood in Los Angeles and Marc Levy in Harrisburg, Pennsylvania, contributed. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
