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Krishnamoorthi Senate launch video:

NEW: Dems out w/ CBO analysis on Medicaid changes GOP has discussed For one, CBO says per capita caps for Medicaid expansion pop would cut $225B of spending & leave 1.5M more people uninsured. Johnson ruled that out last night after mod blowback READ IT: punchbowl.news/wyden-pallone_…

Seems like no progress made on a SALT deal, per several lawmakers coming out of Ways and Means lunch. Rep. David Schweikert casts a bleak outlook, saying this could take months of negotiations. “We don't have the interaction numbers yet,“ he says.

Rep. Adrian Smith dodges a question on if it’s realistic for Ways and Means to hold its mark up next week. “I’ll save my comments.”

NEW: Rep. Chip Roy sends letter to Speaker Mike Johnson asking him to ensure tougher border security measures are put in final reconciliation bill: punchbowl.news/5_7_25_rep_roy…

Black smoke at the Vatican. Black smoke on Medicaid per capita caps. Black smoke on SALT caps.

Rep. Chip Roy (R-Texas): “There is a sizable block in this conference that are not going to bend on the spending plus tax cut.”

House conservatives are on the floor right now talking about Medicaid reform in reconciliation. They’ve been increasingly vocal on this issue in recent days as things ramp up.

New: Energy and Commerce will hold its markup on Tuesday

NEWS: The House Ways and Means Committee plans to begin its markup of the GOP tax bill on Tuesday at 2 p.m. HUGE moment for Republicans’ tax bill

We previewed for you back in November that Buddy Carter was a Senate contender punchbowl.news/article/campai…

Rep. Mike Collins just says “we need to find the right candidate” when asked if he is launching his Senate run soon. Rep. Buddy Carter, who put out a similar statement of interest to Collins this week, launched his campaign today.

HOUSE passes Rep. MTG’s bill to rename the Gulf of Mexico “Gulf of America” Vote was 211-206

NEW — SPEAKER MIKE JOHNSON with an update on Medicaid changes in reconciliation. FMAP is “certainly off the table, and there's still ongoing discussion about per capita caps, but it's a sensitive thing.” They’ve been all over the map on this the last few days.

No Democrats voted for this, and one Republican - Rep. Bacon - voted no.

🚨 VATICAN CITY (AP) — Robert Prevost has been elected the first American pope in history.