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Business & Economy
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Business & Economy
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Freedom Caucus backs strategy for Trump
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The hardline conservative House Freedom Caucus is backing a two-step approach to tackle parts of President-elect Trump’s agenda on the border, taxes and energy amid an internal clash over the approach.
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The influential caucus said in a letter to Speaker Mike Johnson (R-La.) on Friday that it supports passing a “fully offset” and “focused” border reconciliation package in January, and then moving “forward to a second, larger reconciliation bill covering taxes, spending, energy, bureaucracy, and more.”
“It is our understanding that President Trump’s closest advisors and experts on the border believe they must have immediate resources to begin to undo the damage caused by the Biden Administration, secure the border, and start removals and repatriations on day one,” they said.
The position comes as prominent Republicans have been colliding on how to advance Trump’s tax agenda after incoming Senate Majority Leader John Thune (R-S.D.) recently offered a plan that would put off tax reform to first take action on border security and energy production.
Proponents of the two-step strategy say the move would allow Trump and Republicans to deliver early action on a key campaign issue in the first months of his presidency.
But some House Republicans have raised concerns about prioritizing border funding before tax reform and the difficulty of getting two packages out of Congress in the same year using budget reconciliation.
The Hill’s Aris Folley has more here.
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Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
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Did someone forward you this newsletter? Subscribe here.
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Key business and economic news with implications this week and beyond:
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Supreme Court to hear dispute over Catholic group, Wisconsin tax exemption
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The Supreme Court agreed Friday to take up a Catholic charitable group’s quest to qualify for Wisconsin’s religious exemption from the state’s unemployment tax system.
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Texas bill would allow bitcoin to be used for taxes, donations
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A bill that has been introduced in the Texas Legislature would allow residents to use bitcoin to pay their taxes and make other political contributions and charitable donations.
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Two states sue Glock over add-on allowing machine gun-like firing
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Officials in New Jersey and Minnesota filed a lawsuit against gun manufacturer Glock on Thursday, demanding the company suspend its sale of weapons that can be easily converted with a switch to allow more than 1,000 rounds of rapid fire.
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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
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Upcoming news themes and events we’re watching:
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- Congress is up against a Dec. 20 deadline to fund the government.
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Branch out with more stories from the day:
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Walmart’s Mexico subsidiary plans to appeal a $4.6 million fine for alleged monopolistic practices
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MEXICO CITY (AP) — Walmart’s Mexico subsidiary said Friday it plans to appeal a $4.6 million fine …
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Business and economic news we’ve flagged from other outlets:
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- Consulting firm McKinsey to pay $650 million to resolve US criminal opioid probe (Reuters)
- Trump’s Treasury Pick Is Poised to Test ‘Three Arrows’ Economic Strategy (The New York Times)
- Hot Wheels sales are on fire, powered by adult collectors and nostalgia (The Washington Post)
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Top stories on The Hill right now:
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Senate Democrats livid with exiting Sinema, Manchin: ‘Pathetic’
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Senate Democrats were livid after Sens. Kyrsten Sinema (I-Ariz.) and Joe Manchin (I-W.Va.), two longtime members of their caucus, voted Wednesday to block President Biden’s nominee, Lauren McFerran, to serve another five-year term on the National Labor Relations Board. Read more
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Trump calls for mystery drones to be shot down
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President-elect Trump on Friday evening called for authorities to shoot down the mysterious drones that have been seen in the skies of New Jersey and around the country. Read more
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You’re all caught up. See you next week!
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