US: Trump To Address GOP Conference Shortly, Urge Support For Megabill

President Donald Trump is shortly due to address a House Republican conference meeting on Capitol Hill, where he will remind lawmakers it is in their best interests to swallow objections to the 'Big Beautiful' Republican reconciliation bill that covers the bulk of Trump's domestic agenda. 

• House Speaker Mike Johnson (R-LA) teed up a Rules Committee hearing at 01:00 ET 06:00 BST tomorrow morning, where there is likely to be extended debate over items conservatives and moderates want included in the final text. A full House vote could come as soon as tomorrow.
• The outcome of the Rules meeting will determine if Johnson remains on track to pass the bill by Memorial Day. Johnson has promised to keep the House in session until the bill is passed, so lawmakers will be staying in Washington, regardless.
• The most likely sweeteners for conservatives include bringing forward the date for stricter work requirements for Medicaid from 2029 to 2027 and more aggressive language on repealing tax credits from the Biden-era Inflation Reduction Act.
• A Monday meeting between Johnson and SALT Republicans failed to secure an agreement on the State and Local Tax (SALT) deduction cap. The group has repeatedly stated that they are prepared to torpedo the whole agenda without a raise to the cap, but GOP leadership thinks they will ultimately fold with a slightly revised offer.  
• Conventional wisdom states that looming recesses tend to lubricate Congress’ moving parts. So that, paired with pressure from Trump, suggests that Johnson will manage to advance the package from the Rules Committee.