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Data Centers
President Trump has somewhat shifted his message on data centers from last year’s focus on facilitating their buildout and ensuring power supply in order to “win the AI race with China” to now emphasizing that “Big Tech” should “pay their own way.” Congressional Republicans also recognize voter concern on this issue, which is reflecting in the...
Macro
Fed Chair/Warsh Confirmation Process
Sen. Tillis (R-NC), a member of the Senate Banking Committee (SBC), which is responsible for confirming members of the Fed, praised President Trump’s nomination of Kevin Warsh but signaled his continued unwillingness to vote for him until the DOJ drops its criminal investigation of Chair Powell. SBC Chair Scott (R-SC) also praised Warsh and said...
Healthcare
Drug Pricing/TrumpRx
The launch of the TrumpRx direct-to-consumer (DTC) platform has been delayed, though HHS Secretary Kennedy has indicated it could go live as soon as this month. There is speculation the delay is attributable to concerns relating to the Anti-Kickback Statute (AKS). To that end, in recent days, the HHS Office of Inspector General (OIG) issued a...
Healthcare
Medicare Drug Price Negotiations
CMS released the names of the 15 Parts B and D drugs subject to the third round of the Medicare drug price negotiation program established under the Inflation Reduction Act (IRA). Additionally, CMS announced the first drug already included in the program which will be subject to renegotiation.
Energy
E15, Small Refinery Exemptions
As the House was wrapping up debate on FY26 government funding bills in mid-January, there was a last-minute effort (that did not succeed) to add a provision that would permanently allow for year-round E15 sales while granting an automatic 75% exemption from biofuel quotas for small refiners (SREs) beginning in 2028. During a speech in Iowa on...
Macro
Government Shutdown
Negotiations between key Republican and Democratic players in the Senate have been ongoing over the last two days to find a path forward for passing FY26 appropriations (funding) legislation for the six areas of the government that remain unresolved. Temporary funding runs out this Saturday 1/31 and if appropriations legislation is not passed by...
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