President Donald Trump has terminated the remaining three members of the bipartisan Election Assistance Commission just months before the midterm elections. The commission serves as a national clearinghouse for election administration information and accredits voting systems.
Wall Street's market sentiment has shifted from 'TACO' (Trump Always Chickens Out) to 'NACHO' (Not A Chance Hormuz Opens), reflecting growing pessimism about the Strait of Hormuz crisis. Investors now anticipate a prolonged period of elevated oil prices and shipping risks, moving away from assumptions of a quick resolution.
Senate Republicans released a budget resolution to fully fund ICE and CBP through the end of President Trump's term, using budget reconciliation to bypass Democratic opposition. The measure sets a $70 billion cap per committee and faces a June 1 deadline. Democrats oppose funding after federal agents killed two U.S. citizens in Minneapolis in January, vowing to fight the bill.
