President Trump’s tariffs and the market’s reaction have been dominating headlines this week, but the Senate is also moving forward with key steps towards implementing more of his domestic policy agenda. Senate Republicans are facing challenges within their own party regarding their strategy on tax cuts and potential cuts to Medicaid. Some senators are concerned about the budget change being used to extend Trump’s tax cuts, which are estimated to cost $4.6 trillion over a decade. There are also concerns about slashing Medicaid spending. Despite these challenges, the Senate managed to advance their budget plan for debate. The House-approved budget makes it difficult for Republicans to achieve their targets without cutting Medicare or Medicaid. In addition to the tariffs, questions remain about how the Trump administration will explain the tariffs to the public, what the economic fallout will look like, and when Americans will start to benefit from the trade policy. This weekend on “Meet the Press,” Treasury Secretary Scott Bessent, Sen. Jim Lankford, and Sen. Adam Schiff will delve into these questions. The newsletter also covers other top stories, including Trump’s extension of the TikTok deadline and recent exits at the NSA and FDA. In response to a reader question about Elon Musk’s role in government, it was clarified that Musk is a “special government employee” and is not receiving a government salary. He is brought in as an outside expert to provide expertise on a part-time basis.
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