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Politico
12-05-2025
- Business
- Politico
Trump's tax cuts on trial
Presented by A NEW ERA FOR PLAYBOOK: Big news from POLITICO's flagship morning newsletter in Washington: Today we launch The Playbook Podcast, hosted by author and managing editor Jack Blanchard and newly named Playbook Chief Correspondent Dasha Burns. Jack has already been skillfully decoding politics, policy and power in Washington, and now with Dasha, a proven force on the Trump beat, will deliver across platforms what makes Playbook essential: a clear, aggressively nonpartisan and deeply reported distillation of what matters now and why. Also joining the team: Adam Wren as contributing author for Playbook's Friday and Saturday editions, adding insight and sharp political reporting to your weekend reads. Sign up now to get Playbook delivered straight to your inbox. IN TODAY'S EDITION:— Tax bill coming today— Johnson huddles with SALT Republicans— Guthrie pitches Medicaid cut compromise House Republicans are just 33 hours away from starting their most consequential committee votes yet on President Donald Trump's 'big, beautiful bill.' Here's the latest on what we know as GOP leaders push to have the bill on the floor next week. First, for your situational awareness: After committee votes this week, GOP leaders are aiming for the Budget Committee to vote on the plan Friday morning, followed by Rules Committee consideration next Monday, our Meredith Lee Hill reports. The real hard deadline for Hill Republicans is August, which is when Treasury expects the U.S. to hit its debt limit X-date and run out of cash to pay its bills. The administration wants Congress to act on that by mid-July. MEDICAID CUTS TAKE SHAPE — Energy and Commerce Chair Brett Guthrie late Sunday unveiled the slice of the budget reconciliation bill that his committee is set to take up Tuesday. It appears to be an attempt at striking a compromise between GOP moderates and conservative hardliners who have been at odds over how much to cut Medicaid to help pay for the bill's latest round of Trump tax cuts. But it could still lead to millions losing Medicaid coverage and force states to make difficult decisions. Guthrie is declining to cap federal funding to states that have expanded Medicaid, a proposal that moderates were wary of. But the plan would limit taxes that states levy on hospitals and providers to help finance their Medicaid programs, which could lead states to cut benefits. State officials are poised to fight back. TAX CUT QUESTIONS — Later today, Ways and Means Chair Jason Smith is expected to release the full details of his plan to extend Trump's 2017 tax cuts and enact a further tax overhaul, after circulating an incomplete version Friday night. Ahead of a markup that begins Tuesday at 2 p.m., Smith is expected to brief Republican lawmakers on the details today at 1 p.m., our Benjamin Guggenheim reports. Right now, the bill appears to have a math problem. The draft that Ways and Means released Friday has an estimated $5 trillion cost, above the $4.5 trillion that Republicans permitted in their underlying budget framework. It's raising questions about whether the full bill will include some tax hikes. The Friday draft was also silent on a number of Trump 2.0 tax proposals. SALT was another glaring omission, and we're expecting further movement on that today. SALT Republicans who've been clashing with leadership — and each other — over the parameters for lifting the cap on state and local deductions are meeting with Ways and Means Republicans and Speaker Mike Johnson at 10 a.m. to try to hash out a deal, two people familiar with the plans told Benjamin. Fill in the blanks: We're looking for details today on some of Trump's biggest campaign-trail tax pledges, including eliminating taxes on tips and overtime, and expensive business provisions Republicans want to restore. SNAP FIGHT — Republicans will turbocharge the fight over the nation's largest anti-hunger program when House Agriculture releases its megabill proposal today, Meredith reports. Ahead of a markup beginning Tuesday at 7:30 p.m., the text will put details behind a slew of proposals Republicans are pushing as they look to cut $230 billion in federal spending on the Supplemental Nutrition Assistance Program. The most contentious plan would force states to pay for a portion of benefits for the first time, alarming GOP centrists like Reps. Don Bacon and David Valadao and state GOP leaders. West Virginia Gov. Patrick Morrisey and Alabama Commissioner of Agriculture and Industries Rick Pate are among those warning that the cost-sharing proposal would blow holes through state budgets and lead to massive reductions in services, our Jordan Wolman reports. Pressure's on: Families Over Billionaires, a liberal-leaning nonprofit, will hit Republicans over Medicaid cuts and tax changes that benefit the wealthy via mobile billboards circling the Capitol and House office buildings through Wednesday, the group shared first with us. GOOD MONDAY MORNING. If you haven't seen former Rep. Bob Ney's advice to fellow former Rep. George Santos on life behind bars, as told to our Ben Jacobs, it's definitely worth a read. Follow our live coverage at the Inside Congress blog at and email your Inside Congress scribes at lkashinsky@ bleonard@ and mmccarthy@ THE SKED The House is out. The Senate is in session and voting on Monica Crowley's nomination to be the State Department's chief of protocol at 5:30 p.m. — Armed Services will have a closed briefing on space superiority at 3:30 p.m. — Senate Republican and Democratic leadership will hold separate private meetings shortly before evening votes. The rest of the week: The House will take up law enforcement legislation, including a bill that would allow officers to purchase retired service weapons. The Senate will continue working through Trump's nominees, including Reed Rubinstein as legal adviser to State, Troy Meink for secretary of the Air Force, James Danly for deputy Energy secretary; Katharine MacGregor for deputy Interior secretary and Michael Rigas for deputy secretary of State for Management and Resources. THE LEADERSHIP SUITE Trump's latest tests for Hill leaders Look for congressional leaders to face questions over two weekend developments that pose potential conflicts between the White House and the legislative branch. ABC News reported Sunday that the royal family of Qatar was poised to make a super luxury Boeing 747-8 jumbo jet available for Trump as Air Force One and for use after he leaves office. Qatar denied the report, but it raised questions — and triggered attacks by Democrats — over the ethics of such a move and whether it would violate the emoluments clause of the Constitution, which restricts federal officials from accepting gifts from a foreign state without congressional approval. Rep. Warren Davidson, an Ohio Republican, posted on X that accepting gifts from foreign governments is a 'Bad Idea!' On Saturday, news broke that Trump fired Register of Copyrights Shira Perlmutter, following the termination of Librarian of Congress Carla Hayden last week. The top copyright official is appointed by the librarian of Congress. Rep. Joe Morelle, the top Democrat on House Administration, which has jurisdiction over the Library of Congress and the U.S. Copyright Office, said the move was 'a brazen, unprecedented power grab with no legal basis.' After ICE scrum, Jeffries warns 'hands off' lawmakers House Minority Leader Hakeem Jeffries is warning the Trump administration to 'keep your hands off of members of Congress' after three lawmakers — Reps. Bonnie Watson Coleman, Rob Menendez and LaMonica McIver — were involved in a chaotic scene outside an ICE detention center in New Jersey. Following the incident, which led to federal agents arresting Newark Mayor Ras Baraka, a DHS spokesperson said arresting the three Democratic lawmakers is 'on the table.' Watson Coleman claims she was 'physically shoved' by an ICE agent. Jeffries is calling for the administration to identify the 'masked agents who physically accosted' two members during the scuffle. POLICY RUNDOWN GALLEGO'S IMMIGRATION PLAY — Sen. Ruben Gallego is out with a sweeping immigration plan this morning as the Arizonan looks to cement his status as a key Democratic messenger on the issue. Gallego wants to ramp up border security by hiring more agents and investing in port infrastructure and drug-detection technology. He also wants to speed up the asylum process and expand legal pathways for immigrants in key industries. 'We don't have to choose between border security and immigration reform. We can and should do both,' Gallego will say in a video being released later today, a transcript of which was shared first with our Myah Ward. TRUMP'S NEW DRUG PRICING MOVE — Trump is set to sign an executive order today that could limit Medicare drug costs by tying them to the lower prices other nations pay. It comes after Hill Republicans balked at a similar proposal for Medicaid as an alternative to steep cuts to the program in their megabill. The pharmaceutical industry has slammed the proposals. The new executive order could cost companies billions of dollars. 'This Foreign First Pricing scheme is a bad deal for American patients,' PhRMA CEO Stephen Ubl said in a statement about Trump's impending order. 'It jeopardizes the hundreds of billions our member companies are planning to invest in America, making us more reliant on China for innovative medicines.' Best of POLITICO Pro and E&E: CAMPAIGN STOP TRUMP'S MIDTERM OBSESSION — Trump is issuing a flurry of early House Republican endorsements as he grows antsy about the midterms, Rachael Bade reports in her latest Corridors column. The president is trying to prevent messy primaries while pushing back on policies that could alienate moderate voters. Trump's endorsements so far have been a mix of loyalists and vulnerable Republicans whose swing districts will be essential for the GOP to maintain its House majority. His latest slate, issued Friday, includes Reps. Carol Miller and Riley Moore in West Virginia, Virginia Foxx in North Carolina, Tim Walberg in Michigan, John Joyce in Pennsylvania and Anna Paulina Luna in Florida. THE BEST OF THE REST Jeanine Pirro's 2006 Senate Committee Ignored Election Laws and Still Owes Big Money to Creditors, from Dave Levinthal at NOTUS McKernan, in limbo as CFPB nominee, to get a shot at Treasury, from Mark Schoeff Jr. at Roll Call The red fitness watch challenge that's keeping Capitol Hill active, from David Sivak and Lauren Green at The Washington Examiner HAPPY BIRTHDAY POLITICO's Shay Reid, Peter Cook and Xiaolu Wang … Kevin Fox of Rep. Ro Khanna's office … Riley Brands … former Rep. Frank LoBiondo … Tom Strong-Grinsell TRIVIA FRIDAY'S ANSWER: Benjamin Wainer correctly answered that the first pope to address Congress was the late Pope Francis, in 2015. TODAY'S QUESTION, from Benjamin: In honor of Asian American and Pacific Islander Heritage Month, who was the first person of Asian descent elected to Congress? Include when they were elected and from what state. The first person to correctly guess gets a mention in the next edition of Inside Congress. Send your answers to insidecongress@
Gulf Insider
09-02-2025
- Business
- Gulf Insider
Women Spark and PLAYBOOK Launch the First-Ever Prosperity Lounge at LEAP
Women Spark, powered by PLAYBOOK, has announced the launch of the Prosperity Lounge at LEAP, an initiative designed to advance women's leadership in technology, entrepreneurship, and investment. This collaboration includes significant contributions from partners Vista Equity Partners ('Vista'), a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, and Midis Group, reinforcing a shared commitment to driving change within the tech and investment industries. Hosted at LEAP's global platform for innovation and future technologies, the Prosperity Lounge represents a strategic effort to integrate women more profoundly into the economic fabric of the region. The Prosperity Lounge at LEAP will focus on women in entrepreneurship and investment, offering a space for dialogue, mentorship, and networking. The event will feature sessions inspired by TED Talks and expert panels, addressing the challenges and opportunities for women in these fields. Wafa AlObaidat, Founder & CEO of PLAYBOOK, will kick off the event with a keynote, discussing the lounge's goal to support women's roles in technology and investment. A fireside chat with Deemah Al Yahya, Founder of Women Spark, will explore the importance of networking in driving growth and innovation. Vista, a partner in the lounge, will lead a day of programming focused on empowering women leaders in technology. Fadi Matta from Midis Group will discuss IT solutions for business growth, while Ali AlShankiti will talk about the role of digital transformation in scaling businesses. Other sessions will cover leadership in AI, with speakers like Dr. Wareed Alenaini and Eryn Peters, and explore regional market expansion. Sara Zare will also share insights on the gender gap in STEM fields in the Middle East compared to Western countries. The event will wrap up with closing remarks from Shreya Rammohan, Co-Founder & CGO of PLAYBOOK. This initiative not only aligns with LEAP's vision to spotlight transformative ideas but also significantly contributes to shaping an inclusive economic and technological future in Saudi Arabia and beyond.
