Sec. Bessent, on his fifth hour of testimony to the House, suggests the July 9th deadline for country-specific tariffs to kick back in *will not hold.* It's "highly likely," he says, that for countries engaged in good-faith negotiations, "we will roll the date forward."

My riff tonight: America's mighty political dynasties are crumbling in the age of political disruption Clinton, Bush, Cheney, Kennedy, Daley, Casey, Murphy, Pryor, Laxalt, Landrieu, Graham, Carter, Pryor and more And now Cuomo politico.com/news/magazine/…

NEW: I spoke with former SEC Chair Gary Gensler about how Trump orders directing regulations and enforcement through the White House are upending quasi-independent agencies, and what that means for rule of law. politico.com/newsletters/mo…

Frank Pallone has achieved the One Big Beautiful Bobby Bonilla crossover

politico.com/news/2025/07/0…

As luck would have it, today’s Morning Money is on this very topic. As OBBB inches closer to his desk, the consensus view among budget and economic forecasters is that the administration has overstated the case on what the bill can actually deliver. politico.com/newsletters/mo…

A list of items that could potentially be more expensive under tariff deal with Vietnam: --apple-bottom jeans --boots with fur --baggy sweatpants --Reeboks with straps

San Francisco progressives eye Mamdani’s rise with envy Dustin Gardiner politico.com/news/2025/07/0…

Trump's Big, Beautiful Bill includes tens of billions in funding to ratchet up border enforcement and deportation efforts. That could spell trouble for a US labor market that's increasingly dependent on foreign workers. politico.com/news/2025/07/0…

Another bullseye from Victoria Guida. "For decades, Republicans have extolled the virtues of removing loopholes and carveouts from the tax code ... Fast forward to the present day, and one thing is for sure: Trump’s OBBB is not an exercise in tax simplification." politico.com/news/magazine/…

ICYMI: Swing district Republicans shrug off political risk from axing clean energy tax credits under megabill, arguing they avoided more severe cuts. But Dems see it as "major reason" they'll take back the House in 2026. W James Bikales, Kelsey Tamborrino subscriber.politicopro.com/article/2025/0…

From Declan Harty: Trump’s election unshackled "new challengers to the status quo of finance — from crypto firms seeking to upend trading ... to carmakers hoping to launch their own banks. Now, Wall Street is beginning to hit back at their plans." politico.com/newsletters/mo…