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July 23, 2025
Let’s dive in.
INTERVIEW: FHFA Director Bill Pulte on why Trump can fire Powell, plans for Fannie and Freddie, his investigation into Tish James, and more
Heard on the Hill
SCOOP: New whistleblower documents show Barack Obama requested "a new IC assessment" to blame Russia for 2016 election interference
INTERVIEW: German Prosecutor’s Handling of U.S. Businessman’s Case Raises Concerns
EXCLUSIVE: House GOP's CRAs free up millions of acres for American energy independence
EXCLUSIVE: Inside Rep. Troy Downing's plan to unleash American coal
EXCLUSIVE: Rep. Mike Simpson wants the Kennedy Center to get a permanent Melania Trump makeover
K-STREET, 10,000 FEET: What's next for CFPB Rule 1033?
OPINIONATED: John Mulligan and Joseph Hoefer on AI permitting reform; Paul McCarthy on auto repair prices; and Patrick Hedger on unleashing AI innovators.
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INTERVIEW: FHFA Director Bill Pulte on why Trump can fire Powell, plans for Fannie and Freddie, his investigation into Tish James, and more
by Matthew Foldi
THE LOWDOWN:
Federal Housing Finance Agency (FHFA) Director Bill Pulte spoke with the Washington Reporter about his priorities in office; at the top of his list is “lower[ing] costs” for Americans.
Prior to his arrival at FHFA under President Donald Trump, Pulte explained that the entire agency was run remotely during the Biden administration.
While Pulte said that Trump has the ultimate right to fire Jerome Powell, he believes that the president has “cause” to do so.
One investigation that Pulte has a lot of say over is the one into Tish James, New York’s attorney general. Pulte told the Reporter of his decision that “it doesn't matter whether you're a celebrity, whether you're a lawyer, or in her case, whether you're a politician; if you commit mortgage fraud in this country, we are going to come after you.”
President Donald Trump spent part of his weekend lavishing praise on Bill Pulte, the Director of the Federal Housing Finance Agency (FHFA), who is tasked with overseeing government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac — despite Pulte helming a typically low-profile independent agency, he’s landed major headlines about his work on expanding home ownership, defending Trump’s ability to fire Jerome Powell for cause, and in investigating New York’s attorney general.
Pulte spoke with the Washington Reporter about his priorities in office; at the top of his list is “lower[ing] costs” for Americans. “Title insurance, mortgage insurance, any of the closing costs, those are always ways that we want to reduce costs,” he said. “We want to suck costs out of the system.”
The FHFA, he said, is “always looking at innovating title [insurance reform], but we'll see what happens through the remainder of the year, and in the next year.”
Prior to his arrival at FHFA under Trump, Pulte explained that the entire agency was run remotely during the Biden administration.
“Biden had kept everybody there post-COVID as a remote employee,” he said. “He didn't really care. I don't even think Biden knew he himself existed, but he certainly didn't know that Fannie and Freddie existed, I can tell you that. None of these other presidents did until President Trump showed up on the scene.”
Heard on the Hill
ACTBLUE BLUES: Reps. Bryan Steil (R., Wis.), Jim Jordan (R., Ohio), and James Comer (R., Ky.) subpoenaed documents from ActBlue, “in light of allegations that online fundraising platforms that serve as conduits for political donations have accepted fraudulent donations from domestic and foreign sources,” they wrote to the organization’s CEO.
SPOTTED: Fresh off of his appearance on Megyn Kelly’s podcast, Rahm Emmanuel was spotted on Capitol Hill.
DOCUMENT DROP: Director of National Intelligence Tulsi Gabbard continued her hot streak, declassifying hundreds of thousands of pages relating to the assassination of Martin Luther King, Jr. Her latest effort was a herculean interagency effort, drawing on ODNI, NARA, DOJ, FBI, and the CIA. Many of the newly-released files had been in boxes disintegrating for 60 years.
MAIN STREET FLOOD: Rep. Mike Flood (R., Neb.) was unanimously reelected as the Chair of the Main Street Caucus.
PROPAGANDA POPPED: Walmart’s EVP of Corporate Affairs, Dan Bartlett, fact-checked one of the Democratic Party’s propaganda X accounts, which falsely claimed that the retail giant “increased prices up to 51% in response to Trump's tariffs.” Bartlett noted that this claim “is designed to purposefully mislead. They are cherry picking the data that showed most prices stayed the same and ignoring the more than 6,500 rollbacks on a wide range of items. We are providing the most competitive prices around the country.”
PLAY BALL: Uber took over the Ned’s Club in advance of the Mubadala Citi DC Open, with tennis stars like Frances Tiafoe mingling with top Trump officials like Todd Blanche. Among those spotted were Dan Conston, Joe Pounder, Aaron Harison, Macarena Martinez, Michael Falcone, Jonathan Martin, Josh Dawsey, Meridith McGraw, Tammy Haddad, and Chris Russo.
A message from our sponsor.
We must protect American leadership in the life sciences and avoid damaging drug pricing policies. Meanwhile, China is making significant strides in clinical trials, drug approvals and new breakthroughs. Now is the time to strengthen American innovation, not hinder it. Learn more. [ [link removed] ]
SCOOP: New whistleblower documents show Barack Obama requested "a new IC assessment" to blame Russia for 2016 election interference
by Matthew Foldi
THE LOWDOWN:
A new report from Director of National Intelligence (DNI) Tulsi Gabbard completely changes the narrative about so-called Russian interference in the 2016 election, and complicates attempts to criticize the Trump administration for allegedly politicizing intelligence.
Shortly after the 2016 election, President Barack Obama and his intelligence community (IC) determined that Russia was “probably not trying …to influence the election by using cyber means.”
Just days later, Obama himself “request[ed]” that his IC “creat[e] a new IC assessment” placing culpability on the “tools Moscow used and actions it took to influence the 2016 election.”
Gabbard will provide the Department of Justice with “all documents” needed “to deliver the accountability that President Trump, his family, and the American people deserve.”
Shortly after the 2016 election, President Barack Obama and his intelligence community (IC) determined that Russia was “probably not trying …to influence the election by using cyber means.”
Just days later, Obama himself “request[ed]” that his IC “creat[e] a new IC assessment” placing culpability on the “tools Moscow used and actions it took to influence the 2016 election.”
“President [Barack] Obama and his national security cabinet members manufactured and politicized intelligence to lay the groundwork for what was essentially a years-long coup against President [Donald] Trump,” according to a bombshell report based on documents and emails sent by a whistleblower.
This report from Director of National Intelligence (DNI) Tulsi Gabbard completely changes the narrative about so-called Russian interference in the 2016 election, and complicates attempts to criticize the Trump administration for allegedly politicizing intelligence.
Under Gabbard’s stewardship, the DNI has strenuously sought to depoliticize intelligence, which she explained with this release.
“The issue I am raising is not a partisan issue,” Gabbard said. “The information we are releasing today clearly shows there was a treasonous conspiracy in 2016 committed by officials at the highest level of our government.”
“Their goal was to subvert the will of the American people and enact what was essentially a years-long coup with the objective of trying to usurp the President from fulfilling the mandate bestowed upon him by the American people,” she continued.
INTERVIEW: German prosecutor’s handling of U.S. businessman’s case raises concerns
by the Washington Reporter
THE LOWDOWN:
Daniel Starr, the head of global affairs for AppLovin, hopped on the phone with the Washington Reporter to talk about the investigation and his new civil lawsuit against the German state of North Rhine-Westphalia.
While traveling to Europe in 2022, Starr, a Jewish American, was arrested on an Interpol warrant requested by the Bonn Public Prosecutor's Office on the allegations that a business he briefly owned years prior dodged value-added taxes.
Starr said that three years after his arrest, the German prosecutor is continuing to leave his investigation open even though the company has been closed for several years and there’s “been no new news.”
The plight faced by Starr is one he warned that someone without his means “would look a lot worse” in the same situation. He added that he hears “a lot of people complaining about America” and that it “really upsets” him because, while the U.S. isn’t perfect, “we’re just about as good as it gets on this Earth.”
A German prosecutor's handling of a legal case involving a prominent U.S. businessman has raised concerns on Capitol Hill and in the Trump administration, according to multiple sources.
Daniel Starr, the head of global affairs for AppLovin, hopped on the phone with the Washington Reporter to talk about the investigation and his new civil lawsuit against the German state of North Rhine-Westphalia.
While traveling to Europe in 2022, Starr, a Jewish American, was arrested on an Interpol warrant requested by the Bonn Public Prosecutor's Office on the allegations that EDF Communications LLC did not pay value-added taxes (VAT) for five years, from October 10, 2015 to May 31, 2020. The entrepreneur said that when he sold his company just months after acquiring it and that he “did an in-person closing with the law firm Venable, like you do with any company in the United States.”
Starr said that “baked into the purchase price of the sale” was that the buyer of his firm covered “all past and future tax liabilities.” He also noted that, over the course of the ordeal, he hasn’t had a single interview with the prosecutor or had access to his investigation file.
EXCLUSIVE: House GOP's CRAs free up millions of acres for American energy independence
by Matthew Foldi
THE LOWDOWN:
Freshman Republicans on the House Committee on Natural Resources from energy-rich states are rolling out a series of Congressional Review Acts (CRAs) that will reverse excessive regulations from the Biden administration, back up President Donald Trump’s energy policies, and unleash millions of acres of land for energy development.
One comes from freshman Alaska GOP Rep. Nick Begich, which would free up 13.3 million acres of Alaskan land and give the administration a national security win.
Another CRA from Rep. Troy Downing (R., Mont.) aims to repeal a Biden-era “Miles City Field Office Resource Management Plan Amendment” (RMPA), which locked up over 13 million acres of land and of mineral estates across Montana.
Finally, Rep. Julie Fedorchak (R., N.D.) is complementing Downing’s pro-coal moves with one of her own, which repeals a Biden-era measure that prohibits both coal leasing and oil and gas development on over 4 million acres in Fedorchak’s home state.
Freshman Republicans on the House Committee on Natural Resources from energy-rich states are rolling out a series of Congressional Review Acts (CRAs) that will reverse excessive regulations from the Biden administration, back up President Donald Trump’s energy policies, and unleash millions of acres of land for energy development.
One, exclusively obtained by the Washington Reporter from Rep. Troy Downing (R., Mont.), aims to repeal a Biden-era “Miles City Field Office Resource Management Plan Amendment” (RMPA), which locked up over 13 million acres of land and of mineral estates across Montana.
Current policy prevents future coal leasing throughout Montana’s Powder River Basin — home to around 30 percent of America’s entire coal reserves. Should Downing’s measure pass, it will allow access to tens of billions of short tons of coal, enough to meet American demand for almost 100 years.
Another state-specific CRA is from Rep. Nick Begich (R., Alaska), which would free up 13.3 million acres of Alaskan land and give the administration a national security win. At issue are both the Alaska LNG Pipeline project and his state’s Ambler Road project.
The former is estimated to help create over 10,000 jobs, while Begich’s office noted that with the latter, “constructing Ambler Road is crucial to national and economic security, ensuring access to critical minerals and generating hundreds of millions of dollars in revenue for Alaska.”
EXCLUSIVE: Inside Rep. Troy Downing's plan to unleash American coal
by Matthew Foldi
Rep. Troy Downing (R., Mont.) is rolling out legislation to reverse what he calls “the Biden administration’s nonsensical war on American energy.”
Downing’s H.J. Res 104 — obtained exclusively by the Washington Reporter — repeals the “Miles City Field Office Resource Management Plan Amendment” (RMPA) from the Biden administration.
Downing’s office explained the RMPA “locks up more than 2.75 million acres of land and 11.7 million acres of mineral estate in Montana.”
This legislation is critical because around 30 percent of America’s coal reserves are in and around Montana’s 2nd District, which Downing represents.
EXCLUSIVE: Rep. Mike Simpson wants the Kennedy Center to get a permanent Melania Trump makeover
by Matthew Foldi
Melania Trump could further secure her place in arts history, if Rep. Mike Simpson (R., Idaho) — one of the House GOP’s veteran appropriators — gets his way.
Simpson is living up to his billing as “MAGA Mike” with his latest move, exclusively obtained by the Washington Reporter. He wants the Kennedy Center, whose budget he oversees as Chairman of the House Interior and Environment Appropriations Subcommittee, to rename its Opera House after America’s First Lady.
“First Lady Melania Trump serves as the Honorary Chair of the Board of Trustees at the Kennedy Center,” Simpson told the Reporter. “Naming a theater after her is an excellent way to recognize her appreciation for the arts.”
“As Chairman…I am proud to honor her support and commitment in promoting the arts and humanities,” he added.
K-STREET, 10,000 FEET:
What's next for CFPB Rule 1033?
by Matthew Foldi
THE LOWDOWN:
Crypto Week is over, but industry heavyweights aren’t done with crypto policy — and one little-known regulation is dividing banking experts, with many of President Donald Trump’s closest allies lining up against some of the biggest banks in the world.
John Czwartacki, a former CFPB official, explained that without Rule 1033, the recently-passed bipartisan GENIUS Act is just “a car with no gas.” He added that abandoning open banking now would undermine the GENIUS Act’s promise.
Czwartacki is not alone. Senior Trump administration officials, including David Sacks — the Chair of the President's Council of Advisors on Science and Technology — warn that moves to roll back the rule are “concerning.”
On the other side is JP Morgan Chase, which announced it will require new fees for fintech companies like Plaid, Venmo, Rocket, and others to access customer data for those wanting to use their platforms.
Crypto Week is over, but industry heavyweights aren’t done with crypto policy — and one little-known regulation is dividing banking experts, with many of President Donald Trump’s closest allies lining up against some of the biggest banks in the world.
The Consumer Financial Protection Bureau’s (CFPB) Rule 1033, dubbed the “Open Banking Rule,” began under Trump‘s first administration, and it gives consumers the ability to control their own data so that they can use tools like Venmo, Coinbase, Robin Hood, and others for banking, investing, and financial transactions.
Now, some advocates are pressuring the CFPB to vacate the rule entirely, while some CFPB alums warn this could undercut Trump’s pro-crypto legislative agenda, which saw bills like the GENIUS Act pass last week.
John Czwartacki, a former CFPB official, explained [ [link removed] ]that without Rule 1033, the recently-passed bipartisan GENIUS Act is just “a car with no gas.” He added that abandoning open banking now would undermine the GENIUS Act’s promise.
Czwartacki is not alone. Senior Trump administration officials, including David Sacks — the Chair of the President's Council of Advisors on Science and Technology — warn that moves to roll back the rule are “concerning.”
Sacks, who also works as Trump’s Crypto Czar, was joined by Tyler Winklevoss, a leading crypto investor, in sounding the alarm. Winklevoss expressed concerns that “JPMorgan and the banksters are trying to kill fintech and crypto companies. They want to take away your right to access your banking data for free via-third party apps like Plaid and instead charge you and fintechs exorbitant fees to access your data.”
OPINIONATED
Op-Ed: John Mulligan and Joseph Hoefer: Permitting reform is the missing link in America’s AI strategy
by John Mulligan and Joseph Hoefer
The global race for AI dominance is one that America must win to ensure our economy and national security remain strong. American companies, innovators, and policymakers are right to view AI as an historic opportunity for our nation, but our growing AI ambitions are running up against a very old problem: bureaucratic red tape.
While Washington spends countless hours debating whether and how to govern AI systems, the infrastructure necessary to power those systems, like data centers, transmission lines, and power plants, is still trapped in in a regulatory maze that is designed to slow — or block — development at every stage of the process. If the U.S. wants to lead the next era of AI innovation, it needs to modernize and simplify how we permit and approve the physical projects that make that innovation possible.
That means treating permitting reform not just as an energy issue, but also as an AI issue.
The rise of AI is driving massive new demands on the U.S. energy grid. Some forecasts project that data centers alone could consume over 10 percent of our electricity within the next few years. But the buildout of supporting infrastructure is routinely slowed by outdated and duplicative permitting processes, particularly under the National Environmental Policy Act (NEPA). Simply put: AI innovation cycles move in months, but U.S. permitting takes years.
Included in the Republicans’ recently passed One Big Beautiful Bill was a significant reform to NEPA that creates a new “fee-for-speed" model that would allow developers to pay for expedited environmental reviews under NEPA, completing Environmental Assessments within six months and Environmental Impact Statements within a year. To give a little context on how big a change this is, just look at the Gateway South Transmission Line that took 15 years to receive permit approval.
Op-Ed: Paul McCarthy: Why competition is the cure for rising auto repair costs
by Paul McCarthy
At MEMA Aftermarket Suppliers, we are the trade association that exclusively represents North American aftermarket suppliers who provide replacement parts, components, and systems for light, medium, and heavy-duty vehicles. Our members proudly manufacture the brake pads, filters, engine sensors, and thousands of other parts that keep American’s vehicles running after leaving the dealership. The U.S. aftermarket vehicle supplier industry provides the parts to support 557,000+ businesses across the country, creating 4.97 million jobs across all 50 states. We are the backbone of the auto repair and maintenance industry — providing the parts and systems that keep vehicles on the road.
A recent Wall Street Journal article, “America’s Love Affair With the Car Has Soured—Over Money [ [link removed] ],” vividly captures what many consumers already feel in their wallets: vehicle ownership costs, particularly repair costs, are spiraling out of control. It’s working-class Americans who are hurt the worse by this. According to the U.S. Bureau of Labor Statistics, the cost of car maintenance and repair has increased by 43.6 percent [ [link removed] ] from January 2019 to January 2025. In 2024, the average cost of a single repair was $838 [ [link removed] ], forcing many Americans to choose between getting back on the road or giving up their vehicle altogether.
This isn’t just an economic headache. It’s a threat to everyday mobility, especially in rural areas where the nearest dealership may be hours away and independent repair shops are the only practical option. When the average American cannot afford to keep their car running, it restricts access to employment, healthcare, and opportunities. Fortunately, a solution lies in plain sight: protecting real competition in the aftermarket.
Op-Ed: Patrick Hedger: To win the AI race, America must unleash its innovators
by Patrick Hedger
The United States is at a historic inflection point. The recent release of advanced artificial intelligence models by Chinese competitors was not just another technological milestone; it was a "wakeup call," as President Donald Trump rightly noted [ [link removed] ]. AI is the most consequential innovation of our lifetime, and the President’s AI Action Plan [ [link removed] ] coming on July 23 should ensure America leads in its development to solve society's most complex problems and to shield our economic and national security.
Despite the urgency, the path to securing America's AI dominance does not require a radical new playbook. The blueprint is embedded in our national DNA: a commitment to permissionless innovation and regulatory humility. This is the formula that built the American-led internet and the world's most dynamic economy. The new AI Action Plan should reflect these principles to maximize success.
"Permissionless innovation" is the simple but powerful idea that experimentation should be the default. Innovators should be free to build, create and test new ideas without first seeking government approval. "Regulatory humility" is the recognition that government cannot predict the future. Rather than trying to preemptively anticipate every potential problem with a new technology and imagine a rule for it — a process that inevitably stifles progress — we should address specific, existing harms with targeted, incremental and sectoral rules if and when they arise.
Unfortunately, recent policies have steered us away from this proven model. In its final days, the Biden administration attached a litany of progressive policy strings to AI infrastructure development, wrapping it in the same red tape that has plagued other federal programs. Its executive order [ [link removed] ], while paying lip service to American leadership, buried progress under mandates for prevailing wages, "clean energy" quotas and burdensome environmental reporting.

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