MNI POLITICAL RISK - Trump Enters Reconcilliation Standoff

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Executive summary:

• President Donald Trump heads to Capitol Hill this morning to convince competing House Republican factions to swallow their objections to the ‘One Big Beautiful Bill’. House Speaker Mike Johnson (R-LA) has teed up a vote in the House Rules Committee at 01:00 ET 06:00 BST tomorrow morning to advance the GOP reconciliation package to a full vote. 
• Secretary of State Marco Rubio will deliver testimony at two Congressional hearings on Trump’s FY26 budget request. Rubio will be grilled on budget cuts and foreign policy issues, including the Ukraine war, Gaza, and Iran nuclear talks. Ranking Democrat Senator Jeanne Shaheen (D-NH) intends to tell Rubio that, “this Administration has eviscerated six decades of American foreign policy investments, undercutting our ability to compete with adversaries like China.”
• Treasury Secretary Scott Bessent is in Banff, Canada, for the first meeting of G7 Finance Ministers and Central Bank Governors since Trump’s Liberation Day tariffs.
• White House National Economic Council Director Kevin Hassett said US debt is still the safest on Earth, despite the Moody’s downgrade.
• The Senate voted 66-32 to clear a key procedural hurdle for the landmark bill to regulate stablecoins.
• Trump appeared to distance the US from future Ukraine-Russia talks after a two-hour call with Russian President Vladimir Putin.
• Iranian leaders reiterated that they will not cease their enrichment programme in a new nuclear deal with the US. 
• Poll of the Day: American views on deregulation are largely unchanged.

Please find the full article attached below: US DAILY BRIEF