<!–
*{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img+div{display:none}sub,sup{font-size:75%;line-height:0}#converted-body .list_block ol,#converted-body .list_block ul,.body [class~=x_list_block] ol,.body [class~=x_list_block] ul,u+.body .list_block ol,u+.body .list_block ul{padding-left:20px} @media (max-width:620px){.desktop_hide table.icons-outer{display:inline-table!important}.image_block div.fullWidth{max-width:100%!important}.mobile_hide{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}.reverse{display:table;width:100%}.reverse .column.first{display:table-footer-group!important}.reverse .column.last{display:table-header-group!important}.row-10 td.column.first .border,.row-12 td.column.first .border,.row-8 td.column.first .border{padding:5px 5px 15px 25px}.row-10 td.column.last .border,.row-12 td.column.last .border,.row-14 td.column.last .border,.row-8 td.column.last .border{padding:5px 20px 25px 5px}.row-14 td.column.first .border{padding:5px 5px 15px 25px;border-bottom:15px solid transparent}}
sup, sub { font-size: 100% !important; } sup { mso-text-raise:10% } sub { mso-text-raise:-10% }
{beacon}
Business & Economy
|
Business & Economy
<!–
|
|
|
Trump-Musk allyship defies predictions
|
President Trump’s partnership with billionaire Elon Musk has defied predictions from Republicans and Democrats alike who viewed the pair as doomed to have a falling out.
|
Skeptics argued that Trump would not be able to stand sharing the spotlight with Musk, the world’s richest person.
More than 50 days into the second Trump administration, the highly scrutinized relationship between the pair is showing no signs of a real strain.
Sources close to the White House still questioned what would happen once Musk’s special government employee status expires at the end of May. But the two men have built a strong bond on a mutually beneficial relationship.
“I think Trump genuinely agrees with the DOGE approach,” one source close to the White House said. “He loves being able to say, ‘These IQ geniuses who went to these great schools are doing this.’”
Even when Trump has pushed back on Musk, it has been relatively gentle.
Musk sparred with Cabinet officials about shrinking the size of the federal workforce during a meeting last week. It culminated in Trump reiterating Cabinet leaders, not Musk, were in charge of their departments, but the president offered the caveat that Musk would step in if agency heads did not take action.
The Hill’s Brett Samuels has more here.
|
Welcome to The Hill’s Business & Economy newsletter, I’m Aris Folley — 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 praises Jeff Bezos’s moves with Washington Post
|
|
|
President Trump is offering rare praise of a media executive, Jeff Bezos, the billionaire founder of Amazon and owner of The Washington Post, alluding to a slew of changes he has made to the newspaper in recent months.
|
|
|
|
Bessent says ‘there are no guarantees’ when it comes to recession
|
|
|
Treasury Department Secretary Scott Bessent said on Sunday that “there are no guarantees” when it comes to a recession.
|
|
|
|
Mark Kelly touts new SUV after saying he was ditching Tesla
|
|
|
Sen. Mark Kelly (D-Ariz.) touted his new vehicle on Sunday after he announced last week he would ditch his Tesla amid an ongoing back-and-forth with Elon Musk, the CEO of the electric vehicle company.
|
|
|
|
Universities in precarious position as Trump uses research funding as a wedge
|
|
|
The Trump administration is taking advantage of the entanglement of university finances and government funding, seeking to put schools on a short leash tied to their research capabilities.
|
|
|
|
Senators say they and Trump agree on policy baseline
|
Welcome to Tax Watch, a new feature focused on the fight over tax reform and the push to extend the 2017 Trump tax cuts this year.
|
Republican senators on the Finance Committee say they’re in agreement with President Trump about using the so-called policy baseline for their reconciliation bill, an accounting assumption that would let them ignore trillions in deficit additions over the next decade.
“From my standpoint, we agree on that,” Sen. Ron Johnson (R-Wis.) told reporters last week. “Even the House, in terms of what we send back to them, I think they would accept that, as well.”
Sen. Steve Daines (R-Mont.), who was also at the meeting with Trump last week, reportedly affirmed Trump’s support of the controversial policy assumption as well, saying the president was on board with it.
Some Republicans in Congress have pushed back against the policy baseline assumption in favor of the standard current law framework, with some going so far as to describe the policy baseline as fraudulent.
“Both Smith and Arrington have expressed skepticism that such a move would be allowed under the Senate’s rules,” Beacon Policy Advisors wrote in a Monday analysis, regarding Ways and Means chair Jason Smith (R-Mo.) and Budget chair Jodey Arrington (R-Texas).
“A handful of fiscal conservatives in the House have expressed reservations about the current policy baseline, calling it a gimmick that obscures the deficit impact of the reconciliation bill,” they wrote.
— Tobias Burns
|
|
|
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
|
|
|
Branch out with more stories from the day:
|
|
|
Trump names Bowman as top Federal Reserve bank regulator
|
President Donald Trump on Monday nominated Michelle Bowman to oversee the Federal Reserve’s …
|
|
|
Business and economic news we’ve flagged from other outlets:
|
- Dow jumps 500 points, S&P 500 rises for second day as stocks try to rebound from rout (CNBC)
- Russia Says Putin to Talk to Trump as US Urges Ukraine Truce (Bloomberg)
- More Canadians avoid setting foot in the U.S., ‘without even a connection or layover’ (NBC News)
|
|
|
Top stories on The Hill right now:
|
|
|
Trump ‘disappointed,’ vows to ‘fix’ Kennedy Center after first tour
|
President Trump says he’s “disappointed” with what he saw while touring the Kennedy Center for the first time after naming himself chair of the performing arts institution as part of an unprecedented overhaul, vowing to fix up a place he says “represents a very important part” … Read more
|
|
Jan. 6 investigators hit back at Trump over pardon threat: ‘Do it. Or shut up’
|
The members of the Jan. 6 investigative committee are hitting back at President Trump for his threat to nullify the presidential pardons surrounding their work. Read more
|
|
|
Opinions related to business and economic issues submitted to The Hill:
|
- Concerns over economic chaos are weighing on Trump’s approval rating
- We don’t need the Consumer Financial Protection Bureau — we have courts
|
|
|
You’re all caught up. See you tomorrow!
|
|
|
|
Source link
