The legislative calendar is compressed by the upcoming August recess and the election season. A partisan dispute over a $72 billion reconciliation bill for the Department of Homeland Security is creating a bottleneck, delaying other priorities like housing and crypto regulation.
A new $530 billion Highway Bill aims to extend the 2021 Infrastructure and Jobs Act. The proposal favors infrastructure and materials companies and controversially includes new annual taxes on EVs and hybrids to shore up the Highway Trust Fund.
Key regulatory bodies are poised to release impactful decisions. The CFTC is expected to issue a rule defining prediction market event contracts as swaps, while the Supreme Court is set to rule on a case that could affect the independence of the Federal Reserve.
The analyst underscores persistent geopolitical risks, including Iran's escalating rhetoric and the continued threat of US tariffs. President Trump's ability to impose tariffs is expected to be restored soon, potentially reintroducing market volatility, particularly for EU automakers.
Keep pulling the thread on Nathan Dean.