Trump administration estimates Iran conflict costs exceed $11 billion
The Trump administration has estimated that the cost of the ongoing conflict with Iran has surpassed $11 billion within just six days, as U.S. and Israeli airstrikes have failed to secure the vital Strait of Hormuz, which has been effectively shut to tanker traffic. This disruption has led to a spike in global fuel prices, raising concerns about inflation and the impact on the U.S. economy. In response to rising retail gas prices, Trump is considering measures such as restricting U.S. exports and modifying the Jones Act.
Cornyn Supports Ending Filibuster for Election Overhaul
Senator John Cornyn, R-Texas, announced his support for ending the Senate filibuster to facilitate the passage of the SAVE America Act, a significant election overhaul bill prioritized by former President Donald Trump. In an op-ed for the New York Post, Cornyn stated he would back any necessary changes to Senate rules to overcome Democratic obstruction, despite previously defending the 60-vote threshold. The SAVE America Act, which has already passed the House, aims to impose stricter voting requirements, including proof of citizenship and photo ID.
House Committee Accelerates Testimony on Epstein Investigation
House Oversight Committee Chair James Comer is expediting the scheduling of testimony from U.S. Attorney General Pam Bondi and Commerce Secretary Howard Lutnick as part of the investigation into Jeffrey Epstein. The committee has requested Bondi to appear for a deposition within 30 days and Lutnick within the next ten days, amid concerns over the Trump administration's handling of Epstein's case and compliance with the Epstein Files Transparency Act.
House Republicans Consider Budget Reconciliation for Military Aid
House Republican leaders, including Speaker Mike Johnson, are exploring the use of the budget reconciliation process to pass military aid related to the ongoing conflict in the Middle East. During a closed-door meeting, they discussed attaching this aid to a party-line policy package, as they anticipate a request from the Pentagon for tens of billions of dollars to support U.S. efforts in the region.
