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Unleash Prosperity Hotline (Weekend Edition)
Issue #1295
06/27/2025 - 06/29/2025
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1) Senate Parliamentarian Vs. America
We bet that almost none of our readers know who the Senate Parliamentarian is, or even that this position existed.
But Elizabeth MacDonough does exist and she’s become the most powerful person in Washington. She’s wreaking havoc on the Big Beautiful Tax Reconciliation Bill.
In the last several weeks MacDonough has ruled at least $2 trillion of budget savings and reforms - many of which are at the heart of the deficit reduction plan - can only be passed with a 60-vote Senate supermajority.
She’s ruled out the fix on Medicaid scams by the states, all Medicaid work requirements, land sales, the Reins Act to control regulatory costs, citizenship verification for welfare programs, restrictions on excessive pay for federal employees, restrictions of funding for sanctuary cities, to name a few.
What this means is that the budget deficit will be far HIGHER in the years to come. The very Democrats who scream that Republicans are expanding the deficits and debt are applauding these fiscal road blocks.
Republicans could have replaced the Senate parliamentarian at the start of the year - just as they could and should have cleaned house at the CBO and Joint Committee on Taxation, but they punted.
It’s a reminder of the great former Heritage Foundation president Ed Feulner’s Number one political rule: Personnel are policy.
Here’s MacDonough greeting President Obama:
Photo Credit: Greg Nash, The Hill
And here’s a partial list of the budget savings left on the literal cutting board table. A comprehensive list can be found here ([link removed]) .
* Increasing the maximum fine and prison time for illegal disclosures of taxpayer information from $5,000 to $250,000 and from 5 years to 10 years.
* Prohibiting participation in Medicaid for non-citizens.
* Ending the ability of states that receive federal Medicaid dollars to raise taxes on health care providers.
* Requiring that offshore oil and gas leases be issued to successful bidders within 90 days after the lease sale.
* Mandatory public land sales. Allows the sale of both Bureau of Land Management and U.S. Forest Service lands.
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2) Biden’s Energy Legacy in One Grim Picture
When President Biden decided to release significant portions of the Strategic Petroleum Reserve (SPR) - not for an emergency situation - but to temporarily lower gas prices for the midterm elections, he never restocked. It’s like borrowing your friend’s car with a full tank of gas, and returning it with only a quarter tank.
This chart from UP Fellow, EJ Antoni, helps illustrate the Biden’s energy mess he left behind.
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The best way to avert price shocks from the never-ending turmoil in the Middle East is to make America energy dominant with our own abundant energy sources.
Steve Moore was recently on Fox discussing Biden’s folly of draining the SPR for political reasons. With an America First energy policy, eventually we won’t need an SPR.
After all, we don’t have a federal corn or steel or cattle reserve… but maybe we should shut up before we give the politicians any bad ideas…
Click the image below to watch the full video.
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3) Trump and Bessent Slay Global Tax Cartel
Tax competition is absolutely CRITICAL to economic growth and as a deterrent to runaway government. That’s why the socialist Europeans hate it.
Biden’s Treasury Secretary, Janet Yellen, unpatriotically played into their hands with her subversive “global minimum tax.”
Bravo to Trump and Scott Bessent who have taken a big step in ending the OECD/World Bank dreams of an international tax cartel.
American companies will not be subject to OECD minimum taxes under a new agreement negotiated by Treasury Secretary Scott Bessent, pursuant to President Trump's day one executive orders:
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Score one for the new sheriff in town and the America First movement, at the expense of the globalists.
The deal not only protects Americans sovereignty but also means key pro-growth Trump tax cuts will not be undermined by discriminatory foreign taxes.
Because of this, Bessent also asked for the Senate and House to remove Section 899 of OBBB, which would have imposed a 5% to 15% tax on countries that discriminate against the U.S.
We hope this deal requires the end of Euro “digital services taxes” imposed on America’s tech industry.
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4) What’s the Matter with North Carolina?
We mentioned in a Hotline item ([link removed]) last week that tobacco farmers in North Carolina are trying to block a provision in the House-passed Big Beautiful tax bill, that would close a loophole allowing farmers to avoid paying the $1.01 per pack cigarette tax on exported tobacco. The industry has recruited NC Senator Thom Tillis to champion the cause.
Now, nearly the entire North Carolina farm lobby (and some Virginia farm groups too) is pushing the tax break that reduces tax collections by $12 to $20 billion and encourages smoking.
In a letter to Senate Finance Committee Chairman Mike Crapo, the farm lobby pleads that “the duty drawback is vital for American tobacco farmers” and that this end run around the excise tax “plays a quiet but essential role in keeping U.S. leaf attractive on the international stage.”
By that logic, taxpayers should shower subsidies on EVERY American product.
And for what and whom? The letter describes tobacco as "a key driver of the North Carolina economy." Sure. Back when Richard Nixon was president.
The USDA reports that the number of tobacco farmers in America has fallen from 90,000 in 1997 to about 3,000 today.
We are libertarians on this issue. Tobacco use should not be banned. But discouraging smoking is universally recognized as the easiest and cheapest way to reduce early death, cut health care costs, and avert the misery of cancer.
Even their letter admits this. Getting rid of the subsidy "will reduce demand" for tobacco. So true. If you tax something less, you get more of it.
This tax break subsidizes bad health, and should be immediately repealed.
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5) Chicago Teacher Union: Your Children Are Our Children
Chicago Teachers Union (CTU) President Stacy Davis Gates is probably the most powerful and most radical union leader in the country with more than 300,000
School children under her control.
She is pushing for a new contract that raises teacher pay by 9% a year and includes initiatives from housing subsides for teachers to “restorative justice” programs. She also sees standardized tests as a target, dismissing data that shows that in 2022, 9% of Chicago’s black eighth graders were proficient in reading and 4% were proficient in math. She claims that student testing “at best is junk science rooted in white supremacy.”
The CTU also knows how to shut down competition. Last year, the union instigated a shutdown of an Illinois school choice program, putting the futures of 10,000 low-income students at risk. Gates recognizes educational quality when she sees it. She sends her own son to a private school.
Gates told the City Club of Chicago on Monday: “(Author James) Baldwin says the children are always ours. Every single one of them, all over the globe. And what comes next is ‘CTU thinks your children are its children.’ Yes, we do. We do.”
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6) But He Charges Less!
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