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 Business & Economy | Business & Economy <!– | | | Senate hawks want steeper cuts in Trump tax bill | The Senate version of legislation to enact President Trump’s agenda is hitting new turbulence as conservatives led by Sens. Ron Johnson (R-Wis.), Rick Scott (R-Fla.) and Mike Lee (R-Utah) are demanding deeper spending cuts to address the nation’s $2.2 trillion annual deficit. | Senate Majority Leader John Thune (R-S.D.) has focused this week on addressing the concerns of Senate GOP colleagues such as Sens. Josh Hawley (Mo.) and Lisa Murkowski (Alaska), who raised alarms about cuts to federal Medicaid spending. But Thune has to worry about his right flank as Johnson and his allies are threatening to hold up the bill unless GOP leaders agree to deeper cuts to federal Medicaid spending and a faster rollback of the renewable energy tax credits enacted under former President Biden. Johnson, Lee and Scott are threatening to vote as a bloc against the bill next week unless it undergoes significant changes. Thune plans to bring the bill to the floor Wednesday or Thursday next week, but he may not have enough votes to proceed on the legislation, Republican senators say. The Hill's Alex Bolton has more here. | Welcome to The Hill’s Business & Economy newsletter, I'm Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue. | Did someone forward you this newsletter? Subscribe here. | | | Key business and economic news with implications this week and beyond: | | | Trump: ‘Maybe I’ll have to change my mind’ about firing Powell | | | President Trump on Friday floated the possibility of firing Federal Reserve Chair Jerome Powell as part of his latest round of intense criticism of the leader of the central bank over its decision not to lower interest rates. | | | | 1 in 3 baby boomers say they’ll never sell home: Redfin | | | About a third of baby boomers who own their homes don’t expect to ever part with them, according to a new poll. | | | | NTSB recommends quick modifications to 737 Max engines | | | The National Transportation Safety Board (NTSB) on Wednesday recommended that Boeing modify the engines on 737 Max planes due to a safety problem caused by bird strikes. | | | | Nearly 1,000 ships see GPS jams near Iran coast, group says | | | Nearly 1,000 ships have experienced “persistent and sometimes severe” GPS signal jams every day the past week near Iran as the country continues to face bombardment from Israel’s military, a French naval monitoring firm warned Friday. | | | | The Hill's Evening Report breaks down the day's big political stories and looks ahead to tomorrow. Click here to sign up & get it in your inbox
| | | Upcoming news themes and events we're watching: | - Federal Reserve Chair Jerome Powell testifies before the House and Senate next week.
| | | Branch out with more stories from the day: | | | Senate parliamentarian deals blow to GOP plan to gut consumer bureau in tax bill | WASHINGTON (AP) — Republicans suffered a sizable setback Friday on one key aspect of President Donald … | | | Business and economic news we've flagged from other outlets: | - Tesla inks first deal to build China’s largest grid-scale battery power plant (CNBC)
- Hybrid Cars, Once Derided and Dismissed, Have Become Popular (NYT)
| | | Top stories on The Hill right now: | | | Senate parliamentarian knocks pieces out of Trump’s megabill | Senate Parliamentarian Elizabeth MacDonough has ruled that several key pieces of the massive bill to implement President Trump’s agenda run afoul of the Byrd Rule and must be taken out of the package to allow it to pass with a simple majority vote on a special procedural fast track. Read more | | Supreme Court rules against FDA, EPA | 12:30 Report is The Hill’s midday newsletter. Subscribe here or using the box below: Read more | | | | You're all caught up. See you next week! | | | |
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