Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Donald Trump’s signature economic legislation stalled in the House Wednesday afternoon as the president worked to win over Republican fiscal conservatives angry over the $3.4 trillion cost of his massive tax and spending package.

Republican congressional leaders delayed a key procedural vote for hours while the hardliners met in a room just off the House floor to refine their demands and then meet with the Trump’s budget director, Russ Vought.

Vought told reporters the two sides were “making good progress” as he left the session late in the afternoon. Earlier in the day, Trump summoned the conservative holdouts to the White House to meet with them in person.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Republican Congressman Greg Murphy of North Carolina.
• Bloomberg Politics Contributor Rick Davis and Obama 2012 Campaign Manager Jim Messina.
• Bloomberg Washington Correspondent Tyler Kendall.
• Democratic Congresswoman Suzan DelBene of Washington.
• Republican Congressman Jim Jordan of Ohio.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

A sharply divided US Supreme Court limited the power of judges to block government policies nationwide but left unresolved a fight over President Donald Trump’s restrictions on automatic birthright citizenship.

The 6-3 ruling Friday said Trump’s restrictions on birthright citizenship at a minimum won’t take effect for 30 days. The justices returned three cases to the lower courts to consider whether to keep the rules on hold for longer — at least in part of the country if not the whole nation.

Trump hailed the decision as a “monumental victory.” By curbing so-called nationwide injunctions, the ruling could help Trump fend off other challenges to his ambitious agenda. Trump and his allies argued that a single judge generally shouldn’t have the power to block a federal government policy across the country.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Washington Correspondent Tyler Kendall.
• Democratic Senator Dick Durbin of Illinois, Ranking Member of the Senate Judiciary Committee.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• Robert McWhirter, Constitutional lawyer and practicing criminal defense and civil rights lawyer in Maricopa County, AZ.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

A Senate rulekeeper determination that several major provisions focused on cutting Medicaid spending violate the chamber’s rules deals a heavy blow to Senate Republicans’ tax and spending bill.

Senators have been scrambling to finalize their tax bill—a major priority for President Donald Trump—this week to meet a self-imposed July 4 passage deadline. The chamber’s independent rulekeeper’s decision, announced early Thursday in a release from Senate Budget Committee ranking member Jeff Merkley (D-Ore.), could delay lawmakers’ attempts to pass the legislation (H.R. 1) under reconciliation without needing Democratic support.

The rulings from Senate Parliamentarian Elizabeth MacDonough could result in more than $250 billion in health care cuts being removed from the bill, Sen. Ron Wyden (D-Ore.), ranking member on the Senate Finance Committee, said in a statement.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Washington Correspondent Tyler Kendall.
• Bipartisan Policy Center Senior Vice President Bill Hoagland.
• Republican Congressman Troy Downing of Montana.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• Principal at WestExec Advisors and former Cyber Executive for the Intelligence Community Laura Galante.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

House Republicans from high-tax states signaled they’re inching closer to a deal on the state and local tax deduction following a Wednesday meeting with Treasury Secretary Scott Bessent.

Young Kim of California and Andrew Garbarino of New York both said they made progress at the meeting but did not divulge details on the negotiations, which are crucial to passing President Donald Trump’s multi-trillion dollar tax and spending bill.

“I’m working diligently so that we have a good product that we can all support,” Kim said after the meeting.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• National Association of Manufacturers President Jay Timmons.
• Bloomberg Politics Contributor Jeanne Sheehan Zaino and S-3 Group Partner Ashley Davis.
• Bloomberg New York City and State Reporter Laura Nahmias.
• Siena College Research Institute Director Don Levy.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Israel and Iran appeared to be honoring a ceasefire agreement unexpectedly announced by Donald Trump overnight, after the US president reacted angrily to reports of early breaches of the deal by both sides.

Israeli Prime Minister Benjamin Netanyahu agreed to hold off on further strikes after a conversation with Trump on Tuesday, according to a statement from his office. Israel had destroyed a radar complex near Tehran after the truce came into effect as of 7 a.m. local time, in response to three missiles from Iran, the prime minister’s office said.

Reports of attacks by both sides in the early hours of the peace accord triggered a furious reaction from Trump, who had declared the war over late Monday after 12 days of fighting. “DO NOT DROP THOSE BOMBS,” read one post on his Truth Social platform, directed at Israel in particular. “IF YOU DO IT IS A MAJOR VIOLATION.”

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Chief Political Correspondent Annmarie Hordern.
• Republican Congressman Michael McCaul of Texas.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• Emerson College Polling Center Senior Director Matt Taglia.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump raised hopes of de-escalating the Middle East conflict after Iran’s strike against a US base, saying the attack was “very weak” and telegraphed ahead of time by Tehran.

“I want to thank Iran for giving us early notice, which made it possible for no lives to be lost, and nobody to be injured,” the president said in a social media post Monday. “Perhaps Iran can now proceed to Peace and Harmony in the Region, and I will enthusiastically encourage Israel to do the same.”

Iran fired missiles at a US air base in Qatar earlier Monday after promising it would respond “proportionately and decisively” to the weekend bombing by US forces of three nuclear facilities. Qatar said the missile barrage was intercepted and the base had been evacuated in advance.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Washington Correspondent Tyler Kendall.
• Former Israel Defense Minister Yoav Gallant.
• Beacon Global Strategies Managing Director Michael Allen.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.

See omnystudio.com/listener for privacy information.