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🟡 Semafor Principals: Plane dealing
In today’s edition: How Trump tamed Republican free traders.
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Senators predict passage of bipartisan crypto bill — without language targeting Trump
The bill’s final language includes “really good refinements, a lot of progress — on things like consumer protection, and bankruptcy protection, and ethics,” Sen. Kirsten Gillibrand said.
Screenshot/Semafor
Republicans wrestle with possible failure of ‘big, beautiful bill’
Party leaders are optimistic. But in the words of one House conservative: “It was probably too much to do in one bill.”
Nathan Howard/Reuters
Semafor interviews Coinbase CEO Brian Armstrong, Sens. Kirsten Gillibrand and Cynthia Lummis
Semafor’s Eleanor Mueller sits down with Coinbase CEO Brian Armstrong and Senators Kirsten Gillibrand and Cynthia Lummis for a timely editorial discussion about the future of innovation and regulation in the digital asset space.
How the Senate will change the ‘big, beautiful bill’
GOP senators are cool to the bill’s timeline for phasing out clean energy tax credits and language on Medicaid cuts.
Tia Dufour/DHS
Trump tames his party’s free-traders
Republicans who might have panicked over a 10% universal tariff just a few months ago are now happy they’re not several times higher.
Leah Millis/Reuters
Trump’s Qatari plane parks itself in his way
The president is forging ahead with plans to accept a gifted jet that is clearly dividing his party and emboldening Democrats.
Brian Snyder/Reuters
Arrest boosts Newark mayor as he runs for governor
The episode is testing Ras Baraka’s theory that the party’s voters want to pick fights that moderates want to avoid.
New York court hears challenge to Trump tariffs
A three-judge panel on an obscure court in Manhattan on Tuesday heard a challenge from small businesses to the sweeping levies announced in April.
Bipartisan bill would push back on China’s influence
The bill would direct Washington to develop a formal strategy for engaging the islands and empower it to extend some diplomatic immunities.
How Democrats plan to counterattack Trump’s tax bill
The party’s top member on the House Ways and Means Committee sat down with Semafor to detail his strategy.
The new Republican ‘MAGA Account’ has a surprising architect: Ted Cruz
The Texas senator and former Trump rival told Semafor he wants to “produce new capitalists.”
Analysis: ‘America First’ meets ‘Gulf first’ in Trump’s visit
The loftiest expectations won’t be met, but investment pledges, defense and tech deals — and possibly progress on security issues — are likely.
Uncommon bonds: Lowering drug prices
GOP Sen. Josh Hawley has a new bipartisan bill that he’s trying to convince other Republicans to join.
Sanders adviser Stephanie Kelton praises Trump’s tax hike suggestion
The economist said the president is targeting the right group for a tax bracket of 39.6% if he wants to avoid inflation.
Republican leaders try to whip up votes for Calif. environmental rollback
Some are worried about setting a precedent that could come back to bite them whenever Democrats come back to power.
Inside the Qatari luxury jet on offer to President Donald Trump
Detailed specifications of a plane that appears to be the same one offered by Qatar to Trump are available online.
Looking for direction, Democrats consult pundits
The party is increasingly seeking out policy answers from prominent figures in the media.
538’s former top numbers guy to launch data journalism site
G. Elliott Morris, the data journalist who took over 538 in 2023, is launching Strength In Numbers, a paid Substack.