Today in one sentence: Trump’s tax bill would add at least $2.5 trillion to the deficit; Walmart will raise prices this month as Trump’s tariffs drive up costs on imported goods; the Trump administration used U.S. diplomats to pressure African governments into fast-tracking approvals for Elon Musk’s satellite company while Musk was working in the White House; Trump told Apple CEO Tim Cook to stop expanding iPhone production in India and instead build more devices in the U.S.; House Democrats opened an investigation into Trump’s acceptance of a $400 million private jet from Qatar, while Senate Democrats moved to block $3.5 billion in arms sales to Qatar and the UAE; Attorney General Pam Bondi sold between $1 million and $5 million in Trump Media stock on the same day of Trump’s “Liberation Day” tariff announcement; and Trump’s June 14 birthday military parade will cost taxpayers up to $45 million.

1/ Trump’s tax bill would add at least $2.5 trillion to the deficit, with the true cost reaching $5.2 trillion if Republicans extend temporary cuts as planned. The bill delivers $3.8 trillion in tax breaks, mostly for corporations and high earners, while cutting Medicaid, food stamps, and clean energy programs to offset a fraction of the cost. The average top 1% household would get a $65,000 tax break; the bottom 20% would get $90. However, the bill is struggling to get through Congress with at least three Republicans on the House Budget Committee saying they will vote no – enough to block the bill from advancing – while some moderate Republicans are calling the cuts politically toxic and fiscally unstable. (Washington Post / Politico / The Hill / NBC News / Bloomberg / New York Times / CNN)

2/ Walmart will raise prices this month as Trump’s tariffs drive up costs on imported goods. “We aren’t able to absorb all the pressure,” CEO Doug McMillon told investors, pointing to increases already visible on basics like bananas. Meanwhile, retail sales in April rose 0.1% – down from 1.7% in March – as shoppers pulled back spending after rushing to buy ahead of price hikes. Separately, Federal Reserve Chair Jerome Powell warned of a tougher economic landscape ahead, saying: “We may be entering a period of more frequent, and potentially more persistent, supply shocks.” (New York Times / NPR / Wall Street Journal / Axios / CNBC)

3/ The Trump administration used U.S. diplomats to pressure African governments into fast-tracking approvals for Elon Musk’s satellite company while Musk was working in the White House. In Gambia, Ambassador Sharon Cromer warned that U.S. aid, including a $25 million power project, was under review, which a senior official described as a threat: “The implication was that they were connected.” After a meeting in Washington, Cromer bypassed Gambia’s telecom regulator and urged the president to approve Starlink directly. The effort involved close coordination between the State Department and Starlink, who described their goal as to “ram this through.” Records show similar pushes in at least four other countries, often tied to U.S. trade talks and aid cuts. Kristofer Harrison, who served as a State Department official in the George W. Bush administration, said: “If this was done by another country, we absolutely would call this corruption. Because it is corruption.” (ProPublica / ABC News / The Hill)

4/ Trump told Apple CEO Tim Cook to stop expanding iPhone production in India and instead build more devices in the U.S. Apple plans to shift about 25% of global iPhone production to India, aiming to reduce reliance on China. Nevertheless, Trump said he told “Tim Apple” that “I don’t want you building in India […] I said to Tim, I said, ‘Tim we’ve treated you really good, we put up with all the plants that you built in China for years […] we’re not interested in you building in India, India can take care of themselves.” Trump also claimed India offered him a trade deal with “literally no tariff” on U.S. goods, though he gave no details. Trump imposed a 26% “reciprocal” tariff on Indian imports last month. (Axios / CNBC)

5/ House Democrats opened an investigation into Trump’s acceptance of a $400 million private jet from Qatar, while Senate Democrats moved to block $3.5 billion in arms sales to Qatar and the UAE. Lawmakers accused Trump of soliciting a bribe, citing the timing of the jet offer and his complaints about delays to a new Air Force One. “This isn’t a gift out of the goodness of their hearts — it’s an illegal bribe,” Sen. Chris Murphy said, who introduced resolutions to halt arms deals that include Reaper drones, Chinook helicopters, and radar systems. Rep. Jamie Raskin, meanwhile, called the jet plan “a clear violation of the Constitution,” noting that Trump wants the plane to go to his library after leaving office. Trump defended the deal, claiming critics would rather taxpayers “pay, TOP DOLLAR.” Attorney General Pam Bondi, who approved the deal’s legality, previously lobbied for Qatar and now faces demands to testify and release legal memos. (Politico / Fox News / NBC News)

6/ Attorney General Pam Bondi sold between $1 million and $5 million in Trump Media stock on April 2 – the same day of Trump’s “Liberation Day” tariff announcement. While Bondi’s disclosure form doesn’t show the trade’s timing or price, it does show that she sold up to $500,000 in Trump Media warrants. The stock dropped 13% in the days that followed. Bondi had until early May to divest under her ethics agreement, but instead sold ahead of the tariff announcement. Bondi previously worked for the SPAC that merged with Trump Media. (ProPublica)

The midterm elections are in 537 days.

✏️ Notables.

  1. The U.S. gave Iran a formal nuclear deal proposal for the first time, pushing Tehran to cap uranium enrichment and allow inspections in exchange for sanctions relief. Trump said Iran “sort of agreed,” warning that “this is not an offer that will last forever.” A top adviser to Iran’s supreme leader, meanwhile, said Iran would only sign if all sanctions end and it can continue low-level enrichment for civilian use. (Axios / NBC News / CNN / Bloomberg)

  2. The Department of Homeland Security asked the Pentagon for 20,000 National Guard troops to help with immigration crackdowns inside the U.S. If approved, it would be the first time Guard units are used this way. A Defense Department official said lawyers are reviewing whether troops would take part in arrests or only provide support. Trump previously told DHS to bring in 20,000 officers from state and federal agencies. And, about 2,000 agents from the ATF, DEA, and U.S. Marshals were reassigned to help with arrests this week. (New York Times)

  3. The National Weather Service is “not ready” for hurricane season, with at least four forecast offices no longer staffed overnight and 155 critical jobs still vacant. NOAA called the situation a threat to “mission-critical operations,” but remains bound by a government-wide hiring freeze. Nearly 500 staff have been forced out under what one official described as a push for “efficiency.” (ABC News / Washington Post)

  4. The Trump administration canceled more than 1,400 federal research grants, including over 100 tied to online misinformation, despite no evidence any projects involved censorship. Officials say the cuts are meant to protect free speech by preventing government-funded research from influencing how online platforms moderate content. None of the canceled projects, however, called for censorship. The National Science Foundation, NIH, and Pentagon ended funding for studies on AI-generated fakes, foreign propaganda, and public health misinformation. (New York Times)

  5. Health Secretary Robert F. Kennedy Jr. ordered the FDA to review mifepristone regulations based on “new data” from an anti-abortion think tank report that has not been peer-reviewed or published in any medical journal. The report, released by the Ethics and Public Policy Center, claims high complication rates but includes misleading data, such as counting ectopic pregnancies, which mifepristone neither causes nor worsens. (The Guardian)

  6. Florida banned fluoride in public water – the second state to do so after Utah. Gov. Ron DeSantis called water fluoridation “forced medication” that violates “informed consent.” The law, tucked into the state’s Farm Bill, bars unspecified “additives,” effectively ending statewide fluoridation starting July 1. DeSantis cited claims of health risks based on disputed research. (ABC News / NBC News)

  7. DOGE claimed that 40% of phone calls to the Social Security Administration about changing direct deposit information came from fraudsters. But SSA data shows phone-based direct deposit fraud makes up less than 0.0003% of total benefits. In April, SSA launched new anti-fraud checks in response to those claims. The system flagged two suspicious cases out of more than 110,000 phone claims. The policy delayed payments, slowed retirement processing by 25%, and forced some people to visit field offices. SSA admitted in an internal memo: “No significant fraud has been detected from the flagged cases.” (Nextgov)

  8. The White House has released just 29 transcripts out of 146 public remarks Trump made during his first 100 days in office – about 20%. Missing transcripts cover some of his most controversial comments, including false claims about Jan. 6, praise for Putin, and a rant about aircraft carriers using “a new theory” involving magnets. The administration stopped emailing transcripts five days after taking office and hasn’t posted any since March 13. Asked why, communications director Steven Cheung replied: “You must be truly fucking stupid if you think we’re not transparent.” Previous administrations routinely released all transcripts compiled by nonpartisan staff. Trump’s White House, meanwhile, still claims to be the “most transparent” in history. (HuffPost)

  9. Trump’s June 14 birthday military parade will cost taxpayers up to $45 million. The event, framed as the Army’s 250th anniversary celebration, includes 6,600 troops, 150 vehicles, 50 aircraft, and 25 tanks, along with a fireworks show and country music concert. The price tag excludes city expenses like road repairs and cleanup. Trump defended the cost, calling it “peanuts compared to the value of doing it.” (Washington Post / USA Today / Reuters)

/end note. Stephen Miller re-emerges as an ‘untouchable’ force in Trump’s White House. “The ‘president’s id’ is leaving his mark on domestic and foreign policy with knowledge acquired in Trump’s first term and power delegated in this term.” (NBC News)

Last year today: Day 1212: "Ready to rumble."
Two years ago today: Day 846: "Remain optimistic."
Six years ago today: Day 846: Escalating tensions.
Seven years ago today: Day 481: Hindsight.