Balance of Power: Early Edition 6/03/25
On the early edition of Balance of Power, Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz discuss the Senate making possible changes to the Trump Tax Bill. On today's show, Bloomberg's Tyler Kendall, Bipartisan Policy Center Senior Vice President Bill Hoagland, ROKK Solutions Partner Kristen Hawn, Bluestack Strategies Founder Maura Gillespie, Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch, Bloomberg's Riley Griffin. (Source: Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Skift
an hour ago
- Skift
Junk Fees, Airport Security, No Tax on Tips: 7 Travel Bills in Congress We're Tracking
Although travel isn't at the top of Congress' agenda, lawmakers in Washington are discussing several bills that would impact the industry. Travel and tourism isn't at the top of Congress' agenda, which this month is dominated by debate over the President Donald Trump-backed 'big, beautiful' tax and spending bill. But that doesn't mean that lawmakers aren't attempting to make laws that would directly affect the hotel, lodging, air travel, and cruise industries. Here are seven such federal bills to watch heading into the summer: 1: Hotel Fees Transparency Act of 2025 Introduced by Rep. Young Kim (R-Calif.), this bipartisan bill targets 'unfair and deceptive advertising of prices for hotel rooms and other places of short-term lodging.' Bill co-sponsors include Reps. Kathy Castor (D-Fla.), Russell Fry (R-S.C.), Kevin Mullin (D-Calif.), Craig Goldman (R-Texas), Eugene Vindman (D-Va.) and André Carson (D-Ind.). The bill mandates that hotels and short-term rental providers must: Display the 'total services price, if a price is displayed, in any advertisement, marketing, or price list wherever the covered services are displayed, advertised, marketed, or offered for sale.' Disclose 'the total services price at the time the covered services are first displayed to [an] individual and anytime thereafter throughout the covered services purchasing process.' Disclose before a final purchase 'any tax, fee, or assessment imposed by any government entity, quasi-government entity, or government-created special district or program on the sale of covered services.' The bill passed the U.S. House on a voice vote in April. The U.S. Senate is now considering the measure. There, Sen. Amy Klobuchar (D-Minn.) has introduced a Senate version of the Hotel Fees and Transparency Act of 2025, which is co-sponsored by Sens. Jerry Moran (R-Kansas), Catherine Cortez Masto (D-Nev.) and Shelley Moo
Bloomberg
an hour ago
- Bloomberg
Circle Shares Resume Trading, Pop Over 203%
"Bloomberg Markets" follows the market moves across every global asset class and discusses the biggest issues for Wall Street. Today's guests: Council on Foreign Relations Fellow for Europe Liana Fix, Verdence Capital Advisors CIO Megan Horneman, Bloomberg's Michael Mckee, Zoe Schneeweiss, Michael Regan, and Kunjan Sobhani. (Source: Bloomberg)
USA Today
an hour ago
- USA Today
Trump says Elon Musk bromance may be over after attacks on tax bill
Trump says Elon Musk bromance may be over after attacks on tax bill 'Elon and I had a great relationship,' President Trump told reporters in the Oval Office on June 5. 'I don't know if we will anymore.' Show Caption Hide Caption 'Kill the bill': Musk urges lawmakers to stop Trump's tax cut bill Elon Musk blasted President Trump's new tax bill as a 'disgusting abomination,' urging millions of followers to lobby lawmakers to 'kill the bill.' WASHINGTON ― President Donald Trump said his close relationship with Elon Musk might be over after the world's richest man and former top White House adviser spent the past few days slamming the president's signature tax and policy bill. "Elon and I had a great relationship," Trump told reporters in the Oval Office on June 5. "I don't know if we will anymore." The president's comments triggered a war of words with Musk, who said Trump wouldn't have won a second term if it weren't for the quarter of a million dollars in campaign cash he pumped in his 2024 campaign. "Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate," Musk said in a post on X, the social media company he owns. "Such gratitude." Trump's remarks were his first since Musk called Trump's reconciliation bill "a disgusting abomination" and later urged his social media followers to lobby their representatives to "kill the bill." Musk has objected to the deficit implications with the legislation. "I'm very disappointed with Elon. I helped Elon a lot," Trump said during a lengthy response to a question from a reporter about Musk's criticism as the president sat next to German Chancellor Friedrich Merz for a bilateral meeting. Trump accused Musk of opposing the legislation because it would end a $7,500 consumer tax credit for buyers of electric vehicles, a policy of former President Joe Biden that has benefited electric car companies like Musk's Tesla. "Elon knew the inner workings of the bill better than anybody sitting here," Trump said. "He had no problem with it. All of a sudden he had a problem, and he only developed the problem when he found out we're going to cut EV mandate." Musk fires back at Trump: 'Whatever' More: Trump overpowers Musk's attacks on mega tax bill with blizzard of orders Musk, CEO of Tesla and SpaceX, fired back at Trump shortly after the president's comments. "Whatever," Musk said in a post on his social media platform X. "Keep the EV/solar incentive cuts in the bill, even though no oil & gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill." Musk added: "In the entire history of civilization, there has never been legislation that both big and beautiful. Everyone knows this!" He also disputed Trump's assertion that Musk was kept abreast of the bill's details. "False" Musk said. "This bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!" Musk left the White House last week after leading the government-slashing Department of Government Efficiency during the first four month's of Trump's second term. Although Musk first voiced criticism of Trump's bill before his exit, Trump had seemed to smooth things over when he welcomed him to the Oval Office for a friendly send-off news conference on May 30. "I'll be honest," Trump said six days later on June 5. "I think he misses the place. I think he got out there and all of a sudden he wasn't in this beautiful Oval Office." Musk, prior to his White House departure, asked for his special government employee status to be extended beyond 130 days to allow him to continue to lead DOGE, but the White House declined, a source told USA TODAY. Last weekend, Musk expressed disappointment after Trump withdrew his nominee for administrator of NASA, Jared Isaacman, a billionaire commercial astronaut with close ties to Musk. Reach Joey Garrison on X @joeygarrison. (This story has been updated with more information.)
