June 17, 2024 12:25 GMT
MNI POLITICAL RISK - Democrats Begin Prep On 2025 Tax Agenda
Daily roundup of news from the US.
Executive Summary:
- Progressive Democrat Senator Elizabeth Warren (D-MA) will deliver a speech today calling on Democrats to “stiffen” their spines for the upcoming debate on taxation as former President Donald Trump’s first-term tax cuts are set to expire in 2025.
- President Biden enjoyed the best fundraising day of his campaign on Saturday, raising more than USD$30 million at a Hollywood event.
- Biden’s campaign is out with a new USD$50 million ad buy for June, which will focus on Trump’s character explicitly referencing three legal cases for the first time. The strategy could be risky for Biden, as some Democrat operatives have expressed concern that any move to directly target Trump’s legal issues could feed into Trump’s narrative of political persecution.
- The Biden administration is planning to release more oil from the Strategic Petroleum Reserve if there is a spike in oil prices this summer.
- The US announced USD$1.5 billion to bolster Ukraine’s energy and civil sectors and address humanitarian needs ahead of the Ukraine summit for peace which took place in Lucerne, Switzerland, June 15-16.
- Rep Steny Hoyer (D-MD) will lead a bipartisan group of nine House representatives to Israel this week for, “high-level meetings with top Israeli leaders.”
- Poll of the Day: 25% of Americans hold an unfavourable view of both President Biden and former President Trump - the highest share of "double haters" at this stage in any of the last 10 elections.
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