Insights: Policy

Reconciliation 3.0

President Trump yesterday called for Republicans to pass a third reconciliation bill (so-called “reconciliation 3.0”) and specifically highlighted his proposed $350b in defense spending as well as the SAVE Act (election integrity legislation) as his priorities. House Republicans have for the last couple of months been actively contemplating how...

FY27 Government Funding/Shutdown

There has been very little progress to-date towards enactment of FY27 government funding (appropriations) bills, with none having passed in the Senate and only two in the House (i.e., Military Construction/VA, Agriculture/FDA). Those that have passed the House have done so on a Republican-only basis. Partisan tensions are high, largely over the...

Prediction Markets

The White House has completed its review of a proposed rulemaking from the CFTC that would establish a regulatory framework for prediction markets, which suggests the proposal could be released imminently. As we mentioned in our 3/13 update, the CFTC is strongly asserting its jurisdiction over prediction markets and is involved at varying levels...

OMB issued a proposed rule (Regulation for Federal Financial Assistance) to revise government-wide rules for federal financial assistance, including healthcare and biomedical research grants, such as NIH awards. At a high level, the proposal would give federal agencies greater direction and authority to review, suspend, and terminate grant awards...

Medicaid Work Requirements

CMS released an interim final rule (IFR) implementing OBBBA’s Medicaid community engagement requirement and establishing the federal framework states must use to determine who is subject to the requirement, who qualifies for an exemption, and how compliance must be verified.

Congressional Leadership (Senate HELP)

Senate HELP Committee Chair Cassidy (R-LA) lost his primary, finishing third behind Trump-backed Rep. Letlow (44%) and State Treasurer Fleming (28%). Cassidy remains Senate HELP Chair through this year, but the committee will have new leadership in the next Congressional session starting in January 2027.