logo
Daniel Cameron struggles to raise money in Kentucky Senate GOP primary

Daniel Cameron struggles to raise money in Kentucky Senate GOP primary

Politico16-07-2025
Senate Majority Leader John Thune says he will bring the first procedural vote to the floor Tuesday on the White House's request to claw back $9.4 billion in spending. It's not clear he has even the 51 votes necessary to start debate on the package.
Congress needs to approve the request before it expires Friday, or the administration will have to spend the money as lawmakers originally intended. That deadline is looming large as several GOP senators insist the administration clarify what spending it is actually seeking to rescind. They'll question President Donald Trump's budget director Russ Vought during senators' closed-door lunch Tuesday afternoon.
'We still are lacking the level of detail that is needed to make the right decisions,' Senate Appropriations Chair Susan Collins told reporters Monday evening. 'It's extremely unusual for any senator to not be able to get that kind of detailed information.'
The Maine Republican is concerned not just over the administration's proposal to scale down the global AIDS-fighting program PEPFAR, but also about broader cutbacks in overseas public health. Sen. Jerry Moran (R-Kan.) told POLITICO he's particularly interested in protecting funding for global food aid programs like Food for Peace and the McGovern-Dole International Food for Education and Child Nutrition Program.
It's increasingly evident the rescissions package will have to be changed in order to pass the Senate, and Thune told reporters as he left the Capitol on Monday that leadership is working with wary senators to 'see what a path forward on amendments looks like.'
Senate leaders expect a vote-a-rama on amendments to start Wednesday, teeing up a final vote late Wednesday or early Thursday. If senators are able to advance a package with tweaks, House GOP leaders plan to put the package on the floor Thursday; they have already started to clear away procedural hurdles that would prevent them from passing the spending cut proposal ASAP.
Throwing another wrinkle into it all, though, is that House GOP leaders don't want the Senate amending the package at all, knowing their members will be jammed with changes they don't like and be forced to choose between passing a watered-down product or missing the deadline to act.
'I think you got to respect the White House's request, and that's what we did, so I hope that's what we get back,' Speaker Mike Johnson told reporters Monday. 'There are two big categories of rescissions, and I'm not sure either of them should be subject to dispute.'
It's also unclear whether an amended rescissions package would even have the support in the Republican House. Fiscal hawks are already drawing red lines, with Rep. Ralph Norman (R-S.C.) going as far as telling POLITICO he won't support a rescissions package that is 'a penny less' than the House-approved version.
MEANWHILE, IN OTHER FUNDING FIGHTS — Senate appropriators remain at a standstill on moving a funding bill forward for the Commerce and Justice departments. They're trying to schedule a briefing with the FBI on the administration's rationale for abandoning the plan to move the bureau to suburban Maryland, according to Sen. Chris Van Hollen (D-Md.), whose stand against Trump's desire for a site in the District of Columbia derailed a markup of the bill last week.
But Van Hollen insists that even if the FBI assures senators that the Washington location is a secure site, he won't back off his attempt to block the administration from diverting about $1.4 billion that has been set aside for relocating the agency's campus to Maryland.
Across the Capitol: House Appropriations Chair Tom Cole said that House leaders began whipping votes Monday night as the chamber prepares to take its vote on the $831.5 billion defense appropriations bill later this week. While defense appropriations bills have been bipartisan in the past, Republicans are expecting this measure to be a largely party-line affair.
What else we're watching:
— Epstein meltdown: We'll see if Republican leaders' headache from their members over the DOJ's failure to release files related to Jeffrey Epstein continues. Rep. Norman voted Monday in favor of a Democratic amendment in the House Rules Committee that would have forced a floor vote on the DOJ releasing more materials from the federal case.
— Russia sanctions timeline: The bipartisan Russian sanctions bill might stall in the House and Senate after Trump announced secondary tariffs on countries trading with Russia. Thune said Monday he would hold off on advancing the bill for now. House Majority Leader Steve Scalise also said a vote could be delayed to post-August recess.
— Dems' last stand against a controversial Trump pick: Senate Democrats are making a final bid to draw the spotlight to a whistleblower's allegations that Emil Bove, a top Justice Department official and 3rd Circuit Court of Appeals nominee, urged defiance of the same judicial branch he is seeking to join. Democrats want the whistleblower, Erez Reuveni, to testify before senators prior to their confirmation vote on Bove, which is set for Thursday morning.
Jordain Carney, Katherine Tully-McManus, Jennifer Scholtes, Meredith Lee Hill and Cassandra Dumay contributed to this report.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Investing in 2026: What Tariffs and Inflation Could Mean for Your Money Next Year
Investing in 2026: What Tariffs and Inflation Could Mean for Your Money Next Year

Yahoo

time11 minutes ago

  • Yahoo

Investing in 2026: What Tariffs and Inflation Could Mean for Your Money Next Year

Concerns about the impacts of tariffs imposed by President Donald Trump and the potential for inflation to keep rising have many Americans worried about what 2026 could bring. Find Out: Read Next: Everyone wants their investments to continue to do well, be they retirement accounts or individual brokerage accounts, though many factors are out of their control. Experts explained what the average American investor needs to know about the impact of tariffs and inflation on your money next year. Tariffs Are a Tax Paid by American Consumers The hard reality is that high, across-the-board tariffs hurt everyone, according to John Lash, GVP of product strategy at e2open, a supply chain platform. 'Despite the rhetoric, these tariffs are a tax paid for by American consumers, plain and simple. The same goes for retaliatory tariffs by foreign nations on U.S. exports. Higher taxes mean higher prices,' he said. While tariffs themselves are not inherently bad when used sparingly to protect the economy, he warned, 'When used indiscriminately, tariffs become a blunt tool — more like an economic cudgel.' Learn More: How Tariffs and Inflation Could Undermine Your Savings Tariffs could affect your savings in three main ways, according to Bradley Thompson, CFA, a financial professional with New Canaan Group in alliance with Equitable Advisors. Your short- and long-term spending, and therefore how much of your income you can save. The amount of interest you receive from your current savings. The value of your investment savings. Inflation also affects savings through rising prices and the way people spend money. 'You're seeing this already through a combination of anecdotal evidence and real data, for example in the used car market. Higher auto prices played a role in offsetting lower energy costs in last week's PCE numbers as consumers moved forward purchases of cars to avoid higher prices later,' Thompson said. He added that a significant portion of gains on savings comes from treasury interest. 'If rates are cut at the same time prices are higher it could doubly impact the savings/spending rate of retirees.' Consumers with high accumulated cash balances in high-yield savings or money markets should look to lock in higher rates now for savings they don't need soon. A Dangerous Feedback Loop for Prices If higher inflation plus tariffs continue to drive consumer behavior, it could lead to a self-perpetuating problem, Thompson warned. 'This could create a negative feedback loop where higher prices beget higher prices,' he said. Workers would likely start to demand higher pay, forcing inflation higher. 'This is called a wage price spiral and something the Fed is keen to prevent. 'If there is a short, temporary shock to the economy via a one-time price increase, consumers can likely withstand it, albeit with some pain, because savings rates are still positive and demand and spending are still strong.' However, there are signs of concern including 'cracks in consumer credit such as a higher number of consumers making minimum payments on credit cards as well as rising auto and mortgage delinquencies.' This shows there may be limited capacity for individuals to pay higher prices and still continue saving, 'but it's not at alarming levels yet.' How the Stock Market and Your Wealth Could Be Affected The average American is more invested in stocks than ever before, so what happens to the stock market affects them more dramatically, Thompson said. The market is a leading economic indicator due to the 'wealth effect,' in which people who feel wealthier (through stock gains) are more inclined to spend, borrow and change jobs. The opposite is also true. 'We're already seeing heavily depressed consumer sentiment numbers that reflect high degrees of uncertainty about the future,' Thompson warned. If tariff policy continues to weigh down corporate earnings, it could cause further drawdowns of the stock market. 'This could produce a second negative feedback loop where people feel poorer and therefore try to spend less, further dampening corporate earnings … and that in turn could impact their long-term savings by depressing their rate of return on their assets during the wealth accumulation phase of their lives.' Where Experts Say To Invest in 2026 In an inflationary environment reinforced by tariffs, Michael Von Bevern, co-managing director of Suntera Fund Services, suggested investors should tilt 'toward assets with built-in inflation resilience.' 'TIPS and commodities are the usual suspects, but in private markets, we're also seeing increased allocation to floating-rate private credit, infrastructure assets and businesses with recurring revenue models and high gross margins.' These structures can absorb cost increases and still maintain earnings stability, he explained. He also suggested sectors like domestic agriculture, U.S.-based hardware manufacturing and renewable energy could benefit from these changes. 'These sectors have typically flown under the radar but are becoming more investable as tariffs increase the competitiveness of U.S. output.' Prepare, Don't Panic While talk about tariffs and inflation may feel overwhelming, they have very real consequences for everyday consumers and investors. From higher prices at checkout to volatile market returns and changing savings strategies, 2026 may bring a need to be more deliberate about your finances. More From GOBankingRates How Much Money Is Needed To Be Considered Middle Class in Your State? This article originally appeared on Investing in 2026: What Tariffs and Inflation Could Mean for Your Money Next Year

What we know about Trump's visit to Scotland
What we know about Trump's visit to Scotland

Yahoo

time11 minutes ago

  • Yahoo

What we know about Trump's visit to Scotland

From trade deals to Gaza, here is what Keir Starmer is expected to discuss with Donald Trump at the US president's Ayrshire golf course. Sir Keir Starmer has met with Donald Trump in Scotland today to discuss a range of issues including the humanitarian crisis in Gaza and tariffs. The US president is hosting the prime minister at his Turnberry golf resort in Ayrshire as his four-day visit to Scotland draws to a close. Starmer is expected to spend most of the day with Trump where he will, among other things, attempt to press the president for a trade deal on UK-made steel. It comes after Trump announced he had agreed 'the biggest deal ever made' between the US and the European Union after high-stakes talks with Ursula von der Leyen at Turnberry on Sunday. While the prime minister will be seeking to strengthen the UK's economic ties with the US on the golf course, business secretary Jonathan Reynolds told BBC Breakfast there is "more to do" in negotiations and that a "resolution" is unlikely to be reached today. Here, Yahoo News takes a look at Trump's visit to Scotland and what is likely to be on the agenda today. Why is Trump here? Trump has been visiting his mother's ancestral homeland of Scotland since Friday for a mixture of business and pleasure. The president has been pictured playing golf at his Turnberry course in South Ayrshire and was also expected to visit his other course on the Menie Estate, north of Aberdeen, during his visit. He is expected to fly back to Washington on Tuesday, following his meetings on Monday with Starmer and Scotland's first minister John Swinney. Swinney has vowed to press Trump to exempt Scotch whisky from US trade tariffs, which he says are currently costing the local industry £4m a week. Swinney also promised to raise the situation in Gaza with Trump, as it was 'causing deep unease and concern and heartbreak within Scotland'. Is this a state visit? This four-day trip is not a state visit, although Trump is scheduled to make a state visit to the UK between 17 and 19 September. It will be a historic first, as Trump is the first elected leader in modern history to be invited back for a second state visit to the UK – the first being in 2019 during his first term as president. The full details of the visit have not yet been released, but it will include a full ceremonial welcome and a state banquet at St George's Hall in Windsor Castle. There had been speculation the King would host Trump in Scotland at Balmoral or Dumfries House, after Charles wrote a letter to him in February inviting him to a state visit. However, it is understood that with the state visit scheduled just a few months later, both sides had agreed to wait until the formal gathering. Anti-Trump campaigners have said they plan to stage a mass demonstration in central London on the first day of his trip. What are Trump and Starmer likely to discuss? Trump and Starmer are set to hold "wide-ranging" talks at the Turnberry golf course, No 10 Downing Street said, including advancing the implementation of the UK-US "economic prosperity deal". The deal was agreed upon in general terms between Starmer and Trump in May, although further details are yet to be hammered out. Progress was made in June when both leaders signed off on terms reducing tariffs on car and aerospace imports to the US. But agreement on a similar arrangement for Britain's steel imports was not reached, leaving tariffs on steel at 25%. American concerns over steel products made elsewhere in the world, then finished in the UK, are said to be among the sticking points on which Starmer will attempt to make progress. Business secretary Jonathan Reynolds told BBC Breakfast that negotiations have been "going on on a daily basis" since an agreement was reached on automotive and aerospace imports but that it "wasn't job done". "There's a few issues to push a little bit further today," he told the broadcaster. 'We won't perhaps have anything to announce a resolution of those talks. "But there's some sectors that we still need to resolve, particularly around steel and aluminium, and there's the wider conversation about what the US calls its reciprocal tariffs.' Starmer is also likely to use his time with Trump to raise concerns over the starvation of the population in Gaza caused by Israel's blockade of the Palestinian territory and restrictions on UN aid workers. As the pair met, Starmer said people were 'revolted at what they are seeing on their screens' with regard to Gaza. The prime minister has condemned Israel for restricting the flow of aid into the territory, alongside the leaders of France and Germany. However, Washington's stance on Israel has been far less critical, having provided money to the controversial Gaza Humanitarian Foundation, which has been criticised for bringing starving Palestinians to its sites only for them to allegedly be shot at by Israeli troops and US contractors. Click below to see the latest Scotland headlines No 10 said Starmer is expected to welcome Trump administration's work with mediators Qatar and Egypt to bring about a ceasefire and would discuss further what more can be done to bring the fighting and "unspeakable suffering" to a halt while securing the freedom of Israeli hostages. Starmer has also been facing pressure from more than 220 MPs calling for an immediate recognition of a Palestinian state – something French president Emmanuel Macron has promised to do – although it is unclear if the PM will bring this up with Trump today. Securing peace in Ukraine will also be high on the agenda, with the prime minister set to talk about their shared desire to bring an end to the war, No 10 said. They are expected to reflect on progress in their 50-day drive to arm Ukraine and force Putin to the negotiating table. After their meeting the two leaders will travel on together to a private engagement in Aberdeen. Read more US and EU agree trade deal - with bloc facing 15% tariffs on goods into America (Sky News) Palestinian state recognition is a one shot opportunity for Starmer – but what does he want to achieve? (The Independent) Scottish Secretary to give Donald Trump 'warm welcome' (The Telegraph)

Roy Cooper enters North Carolina Senate race in win for Democrats
Roy Cooper enters North Carolina Senate race in win for Democrats

The Hill

time12 minutes ago

  • The Hill

Roy Cooper enters North Carolina Senate race in win for Democrats

Former North Carolina Gov. Roy Cooper (D) is entering the state's Senate race, a recruitment win for Democrats who hope that the popular former governor will give them a strong chance in one of the most competitive races next year. He announced his intention Monday morning in a social media post. Cooper's decision comes after significant speculation that he would enter after eight years as governor in the battleground state. He'll be trying to win the seat being vacated by retiring Sen. Thom Tillis (R), who announced last month that he wouldn't seek another term in office. Democrats were already hopeful about their chances of picking up the seat next year as Tillis was seen as potentially vulnerable. He seemed to potentially be on track to lose reelection in 2020 but pulled off a narrow victory after the Democratic candidate faced controversy stemming from an affair. But party members indicated they liked their chances even more after Tillis, who sought to develop a reputation as a more independent-minded member of the GOP, announced his retirement, particularly as Cooper seemed likely to enter the race. Cooper served an unprecedented four terms as state attorney general over 16 years before he unseated then-incumbent Gov. Pat McCrory (R) to be elected governor in 2016. He won that election and reelection in 2020, by a larger margin, despite President Trump carrying the state in the presidential election in both years. Cooper isn't the only candidate seeking the Democratic nomination. Former Rep. Wiley Nickel (D-N.C.) entered the race in April, while others like Rep. Don Davis (D-N.C.) have expressed interest in potentially running. But Democrats in the state previously said they expected Cooper would be the clear choice for the Democratic nomination if he runs. And Semafor reported that Nickel is exploring a possible run for district attorney in Wake County with Cooper as the favorite for the nomination. But despite Cooper's popularity, he still will face a challenge winning in a state where Democrats haven't won a Senate race since 2008. The party has seen more success in gubernatorial races, but they have frequently fallen short in federal contests despite hope for pulling off a win. The race for the GOP nomination initially seemed wide open with Tillis out, but Republican National Committee (RNC) Chair Michael Whatley is planning to run for the seat with support from Trump. The president's daughter-in-law, former RNC Co-Chair Lara Trump, had expressed interest in running, but she ruled out a bid for the seat in a post on X on Thursday. Her name had previously been floated as a possible Senate candidate, but she hasn't pursued it before. Whatley hasn't run for elected office before but led the state GOP for almost five years before being tapped to lead the national party. While a few other individuals have been rumored possible candidates, including Rep. Pat Harrigan (R-N.C.) and former Ambassador to Denmark James Cain, Whatley would likely have a clear advantage for the Republican nomination. The North Carolina Senate seat is one of the two main targets for Democrats next year along with the one held by Maine Sen. Susan Collins (R). They would realistically need to win both to have a chance at flipping the Senate in 2026 along with winning in states considered more of an uphill climb.

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