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Executive Summary:

  • President Biden plans to announce tax hikes on the wealthy to extend Medicare solvency in his Fiscal Year 24 budget.
  • Federal Reserve Chairman Jerome Powell will testify on monetary policy before the Senate Banking Committee today.
  • Top Republicans, including former Speaker Paul Ryan, believe Florida Governor Ron DeSantis (R-FL) will ultimately defeat former President Donald Trump to take the 2024 GOP presidential nomination.
  • A group of New York Republicans are working to force the resignation of scandal-plagued GOP House Rep George Santos (R-NY).
  • US Energy Envoy Amos Hochstein has told reporters that the G7 price caps on Russian crude and oil products are “working well.”
  • House Speaker Kevin McCarthy (R-CA) will reportedly meet Taiwan President Tsai Ing-wen in California next month, rather than travel to the island on a CODEL.
  • The United States Trade Representative has requested consultations with Mexico to resolve a dispute over Mexico's agricultural biotech policy.
  • The US State Department has issued a statement following discussions with the European Union on Russia’s diamond industry.
  • Poll of the Day: Gallup has published a report showing that, “for the third straight year, China is mentioned most frequently by Americans as their nation’s greatest enemy…”

Please find the full article attached below:

MNI POLITICAL RISK ANALYSIS - US Daily Brief 07-03-23 .pdf

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