Principals

1. Does Vance speak for Trump?
2. Vance’s pre-existing conditions idea
3. Spending’s final act
4. Big Fed rate cut lands hard
5. Trump’s tax challenge
6. Semafor interviews Pelosi
7. Middle East on edge of broader war
8. Trump campaign infighting?

PDB: The next House China committee hearing

Biden to deliver speech on economy … NYT: Polls show Harris won debate but race remains tight … Bloomberg: EU will press Apple to open up iPhone operating system

Vance keeps getting ahead of Trump on policy

JD Vance keeps proposing things that Donald Trump may or may not support. That has some Trump allies worried that Vance is overstepping his bounds, Semafor’s Burgess Everett and Shelby Talcott report. “It’s never good for the vice president to be in front of the president,” one Republican senator said. Vance previously floated a $5,000 child tax credit — a potentially multi-trillion-dollar idea Trump did not officially endorse. Vance told NBC News’ Kristen Welker on Sunday that he “learned my lesson” about getting ahead of Trump after the former president said in this month’s debate that, contrary to his running mate, he had not pledged to veto a national abortion ban. Trump generally approves of Vance’s style, but some Republicans worry this kind of loose talk is reckless.

Vance reopens the debate over pre-existing conditions

JD Vance floated major changes to the Affordable Care Act that could effectively roll back its protections for pre-existing conditions, Semafor’s Benjy Sarlin and Shelby Talcott report. While Trump discussed vague “concepts of a plan” in his debate, Vance went into further detail on “Meet The Press” over the weekend and at an event in North Carolina Wednesday, saying Trump would pursue a “deregulatory agenda” that would push older, sicker people towards different insurance plans than younger, healthy people, and allow “people with similar health situations to be in the same risk pools.” While not a concrete plan, it resembles repeal-and-replace proposals from Trump’s first term that, as health experts noted, would end ACA requirements that insurers offer guaranteed-issue plans with minimum benefits that spread costs across customers. The Harris campaign went on the attack, accusing Trump of reviving a “plan to rip away protections for pre-existing conditions.”

Government funding battle reaches a climax

Senate Majority Leader Chuck Schumer is making his move as the Sept. 30 government funding deadline draws nearer. Schumer is expected today to begin setting up votes for next week on the Senate’s government funding plan. Nothing is final but, according to senators and aides, it’s likely to last into mid-December, contain disaster relief, and possibly address Secret Service funding flexibility. House Republicans failed to pass a six-month stopgap funding measure with voter ID requirements on Wednesday. “We ran the play. It was the best play; it was the right one. So now we go back to the playbook,” Speaker Mike Johnson said after the vote. Some House Republicans see the writing on the wall. Sen. Jon Tester, D-Mont., told Semafor a GOP House member told him on Wednesday: “What we need is a three-month clean CR.”

— Joseph Zeballos-Roig and Burgess Everett

The Fed goes bold — and, inevitably, it gets political

Some in the GOP are not happy with the Federal Reserve’s aggressive interest rate cut of 50 basis points — and so are some Democrats. Sen. Ron Johnson, R-Wis., said the Fed should have waited until after the election to cut rates but did not because “they’re political.” And some Democrats are seeking steeper cuts, with Sen. Elizabeth Warren, D-Mass., saying she’d like to see another 25 basis points cut. The move, seen as a sign that the Fed is more worried about the labor market than inflation, could throw a curveball into a presidential race that’s been colored by sour economic sentiment. Kamala Harris called it “welcome” but reiterated her commitment to lower prices for families. “I guess it shows the economy is very bad to cut it by that much, assuming they’re not playing politics,” Donald Trump said. Fed Chair Jerome Powell dismissed the idea that politics affected the central bank’s move.

— Joseph Zeballos-Roig and Morgan Chalfant

Trump’s tax cut promises give GOP a headache

Donald Trump is writing tax cut checks that Congress may find hard to cash, Semafor’s Joseph Zeballos-Roig and Burgess Everett report. Trump has said he’d seek to eliminate the limit on state and local tax deductions that he himself imposed in his signature 2017 tax law; eliminate tax on tips, overtime pay, and Social Security benefits; and lower the corporate tax rate to 15%. The problem is that the tax proposals threaten to balloon the deficit and limit the GOP’s options if it manages to retake all of Congress and the White House. Asked about the former president’s fusillade of tax promises, Louisiana GOP Sen. Bill Cassidy told Semafor: “If you want to do that, you’ve got to raise taxes someplace else.”

September 23, 2024 | New York City | Request Invitation

Join Semafor for an evening reception with conversations featuring David Hardy, Group EVP and CEO Americas, Ørsted and Kathleen Barrón, EVP and Chief Strategy Officer, Constellation. With growing demand for clean energy to power AI and its transformative benefits, the biggest companies are seeking new sources of power. What are the most efficient ways the energy sector can meet the moment and maintain clean, reliable energy for all consumers?

Pelosi blasts McConnell in Semafor interview

Nancy Pelosi blasted Mitch McConnell in an interview with Semafor, accusing the Senate GOP leader of failing to hold Donald Trump accountable for his efforts to overturn the 2020 election. McConnell “knew what happened on Jan. 6,” 2021, Pelosi told Semafor’s Kadia Goba on Wednesday. “He said the president was responsible and then did not hold him accountable.” When asked if she had advice for McConnell, who will exit his leadership post at year’s end, Pelosi replied: “I feel sorry for Mitch McConnell.”

US warns against widening conflict after Hezbollah attacks

The US warned against escalation in the Middle East after a series of attacks on electronic devices have fueled concerns of an all-out war in Lebanon between Israel and Hezbollah. “We don’t believe that the way to solve where we’re at in this crisis is by additional military operations,” White House national security spokesman John Kirby said. While in Cairo, Secretary of State Antony Blinken expressed frustration that the pager explosions — blamed on Israel — could imperil delicate Gaza ceasefire negotiations. But some say a broader war appears inevitable. Israeli Defense Minister Yoav Gallant described Israel’s war in the region as entering a “new phase” as troops moved north to the Lebanese border. “Every day we are getting closer to moving beyond what until now has largely been a mid intensity conflict,” David Schenker, former Assistant Secretary of State for Near Eastern Affairs under the Trump administration, told Semafor. He described the communications attacks — which also hit walkie-talkies used by Hezbollah — as exactly what one would do to prepare for a larger ground operation.

— Morgan Chalfant

Emhoff, Trump adviser criticize Sarah Sanders’ remarks on Harris

Second gentleman Doug Emhoff responded on Wednesday after Arkansas Gov. Sarah Huckabee Sanders said her children keep her “humble” and that “unfortunately, Kamala Harris doesn’t have anything keeping her humble.” He called the comment “unbelievable” and added: “As if keeping women humble, whether you have children or not, is something we should strive for. It is not.” Senior Trump adviser Bryan Lanza also denounced her comments on CNN, prompting a quiet debate: While some close to the Trump campaign found her comments off-putting, there were also some who noted to Semafor that Lanza should not have publicly called out Sanders. The Trump campaign this cycle has sought to minimize public infighting, and his remarks drew more media attention to Sanders’ quip, inevitably reminding folks of past comments from JD Vance. Lanza did not respond to a request for comment.

— Shelby Talcott

Beltway Newsletters

Punchbowl News: Sen. Jim Risch, R-Idaho, the top Republican on the Senate Foreign Relations Committee, is releasing a legislative roadmap today for countering China’s global influence that includes proposed changes to the Foreign Agents Registration Act, antitrust reform, and increasing support for Taiwan.

Playbook: Heritage Action is supporting the passage of a longer continuing resolution to fund the government, which could help pick up GOP votes.

Axios: Kamala Harris and Tim Walz are on track to sit for fewer press interviews and news conferences than any major party’s presidential ticket in modern US history.

WaPo: A Washington Post poll shows Harris ahead of Donald Trump, 48% to 47% among likely and registered voters in Pennsylvania.

White House

• President Biden will give a speech at the Congressional Hispanic Caucus Institute 47th Annual Awards Gal today.
• Vice President Harris is campaigning in Michigan.

Congress

• House lawmakers on the China select committee will accuse Chinese companies of threatening US lawsuits against critics in a bid to silence them during a hearing today. “Over the last year, the Select Committee has noticed an alarming trend,” Chair John Moolenaar, R-Mich., will say in opening remarks shared first with Semafor. “Researchers, business owners, and academics who expose the truth about a Chinese company — whether it be the Party’s theft of genomic data, forced labor, or malign trade practices — have suddenly found themselves slapped with frivolous lawsuits.”
• Former Newark, NJ, city council president LaMonica McIver easily won the special election to replace late Democratic Rep. Donald Payne, who died in April.

Outside the Beltway

• Kentucky Gov. Andy Beshear signed an executive order banning “conversion therapy” on LGBTQ minors.

Business

• JPMorgan Chase’s Jamie Dimon is headed to Africa next month. — Reuters
• Boeing will furlough tens of thousands of staff as it grapples with the ongoing machinist strike. — CNBC

Courts

• The Justice Department filed a lawsuit against the owner of the ship that crashed into Baltimore’s Francis Scott Key Bridge.

Polls

• A Quinnipiac survey of likely voters across three swing states found Kamala Harris leading Donald Trump in Pennsylvania and Michigan while the two candidates are tied in Wisconsin.
• Meanwhile, Trump leads Harris by 3 points in Georgia, according to an Atlanta Journal-Constitution poll.

On the Trail

• The Teamsters union is sitting out a presidential endorsement this cycle, the first time it has done so in nearly 30 years. The decision was announced after a poll of the union’s members showed more of them supporting Donald Trump than Kamala Harris.

Economy

• Stock markets globally went up slightly after the Fed’s outsized interest-rate cut.

National Security

• Iranian hackers sent stolen Trump campaign documents to individuals associated with the Biden campaign over the summer, but they did not respond, according to law enforcement officials.
• The US will keep a mid-range missile system in the Philippines despite Chinese demands and is evaluating its possible use in a regional conflict. — Reuters
• The State Department erred in its handling of the suspension of former Iran special envoy Rob Malley’s security clearance, the agency watchdog concluded. — Politico

Foreign Policy

• What Mike Pompeo is up to: Donald Trump’s former secretary of state will participate in a “fireside chat” with a former prime minister of Bulgaria to highlight Russia’s malign influence in the Balkans at a launch event for a new foundation run by a Bulgarian tourism industry executive, Valentino Danchev. The event will take place today in Washington at the offices of the lobbying firm The Vogel Group, according to an announcement shared first with Semafor.
• The United Nations General Assembly overwhelmingly passed a resolution demanding Israel withdraw from the Palestinian territories of Gaza and the West Bank within 12 months.

Media

Technology

• X was temporarily restored in Brazil despite a ban imposed by the country’s supreme court.

Health

• Drug overdose deaths are on the decline in the US. — NPR

Blindspot

Stories that are being largely ignored by either left-leaning or right-leaning outlets, curated with help from our partners at Ground News.

What the Left isn’t reading: Local authorities on Long Island had to push back against false reports about explosives being found in a car near Donald Trump’s rally in New York on Wednesday.

What the Right isn’t reading: A group of more than 100 former Republican officials signed a public letter endorsing Kamala Harris.

Principals Team

Editors: Benjy Sarlin, Elana Schor, Morgan Chalfant

Reporters: Burgess Everett, Kadia Goba, Joseph Zeballos-Roig, Shelby Talcott, David Weigel

Robert Garcia is a Democratic Congressman from California.