Questions About Epstein
The retail tycoon behind Victoria’s Secret and other clothing brands will privately answer congressional questions today about his longtime money manager, disgraced financier Jeffrey Epstein.
The deposition of Les Wexner — behind closed doors while the House is in recess — sets up a contrast with what the House Oversight and Government Reform Committee has on next week’s schedule: two days of public testimony by former President Bill Clinton and former Secretary of State Hillary Clinton.
The panel has been investigating Epstein and his broad network of connections.
Wexner’s deposition will take place at the billionaire’s mansion in New Albany, Ohio, the Columbus Dispatch reported. Wexner has said he cut ties with in 2008 with Epstein, who died in 2019.
See Also:
- GOP senators decline to give away Wexner donations, amid Epstein probe (Columbus Dispatch)
- Teachers Unions Ask SEC to Scrutinize Apollo’s Epstein Ties
Eye on the Economy
Canada’s government is going on a military spending spree with an aim to buy less from the US.
Canadian aerospace, ammunition, and drone companies will become part of sovereign supply chains, with a goal of raising the share of defense acquisitions awarded to Canadian firms to 70% — a major shift for a country that has long relied on US companies.
Prime Minister Mark Carney said Canada will spend $131 billion over the next 10 years and target those purchases to overcome “vulnerabilities we can no longer afford and dependencies we can no longer sustain.” Read More
Consumers in Charge
There are multiple ways to scan the horizon and try to figure out how robustly (or how mildly) Americans are going to propel the economy with their purchases. One way is with consumer confidence surveys. Another is to look at what companies tell their shareholders.
General Mills, maker of Cheerios and other food products, lowered its fiscal 2026 sales outlook, citing reasons including “weak consumer sentiment.”
Dana McNabb, the corporation’s group president of North America retail, said at a conference that after General Mills lowered its base prices on some products, volume went up by 8 percentage points for those items.
See Also: Unprecedented ‘Jobless Boom’ Tests Limits of US GDP Expansion
Future of a Four-Way Split
Three federal judges are hearing arguments today over Utah’s court-imposed congressional district map.
GOP Reps. Celeste Maloy and Burgess Owens are among those seeking a preliminary injunction to stop the use of district lines that radically changed which voters will decide whether to keep them in office.
One of the big differences between that map and the previous one: it would end a four-way split of Democratic-leaning Salt Lake County.
Greg Giroux reports that the state’s chief elections officer said that to prepare for candidate filing, she needs to know by Monday which map’s in use.
Congress Farewell
Politics yes, Congress no: More than ever, that’s the career decision being made by House incumbents, Maeve Sheehey reports.
Nineteen Republicans and eight Democrats are exiting the House to run for governor, Senate, or other elective offices.
“I can do more there as governor than I can here in Congress, because Congress is broken,” said Rep. Nancy Mace , who’s running in a Republican gubernatorial primary in South Carolina that includes Rep. Ralph Norman.
They have nine colleagues trying to take the same step, and that doesn’t include former Rep. (now Gov.) Mikie Sherrill (D-N.J.), or Rep. Elise Stefanik (R), who launched and then dropped a bid to be governor of New York.
Fifteen House lawmakers are running for Senate, some of them in competitive primaries against each other.
Maybe a New Strategy
The first primary of the midterms is still weeks away, but already lobbyists are looking ahead to November and evaluating what to do if there’s a flip in control of Congress. Kate Ackley reports that industry representatives are strategizing for what to do if Democrats investigate such voluntary overtures as donating to the White House ballroom.
“Anybody’s at risk, anybody who has had significant public engagement with the Trump administration, either over substantive issues or transactions,” said Democratic lobbyist Steve Elmendorf, a founder of the firm Avoq and former congressional aide. “If a CEO has stood in the Oval Office with the president and announced a deal, I can see people on the Hill say, ‘I’d like to see the back-and-forth on that deal. What commitments did you make?’”
Some of the fastest growing lobby and messaging shops during Trump’s second term have been all-Republican outfits, but bipartisan firms say they’re seeing an uptick in interest. “Smart firms try to buy low,” said Stewart Verdery, founder of the bipartisan Monument Advocacy. “You can get Democratic talent relatively cheaply.” Read More
Before You Go
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Japan-Built Gas Plant Touted by Trump Would Be Largest in the US
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Eric Trump Backs Drone Company, Adding to Family’s Defense Ties
Trump Coal Plant Orders Refresh State, Federal Power Struggle
The Trump administration’s moves to reignite the coal industry have states arguing the federal government is messing with energy generation plans that have been in the works for years.
Oz Signals Lower Drug Price Legislation Would Favor Pharma
Centers for Medicare & Medicaid Services Administrator Mehmet Oz said Tuesday that potential legislation to codify the Trump administration’s plan to link US drug prices to lower prices in other countries would need to take into account the needs of the pharmaceutical industry.
US, Iran Hail Progress in Nuclear Talks After Trump Threats
The US and Iran made progress in nuclear talks in Geneva on Tuesday, with Tehran’s negotiators scheduled to return with a new proposal in two weeks, a US official said on Tuesday, a cautiously upbeat assessment that suggests the chances of an imminent military clash are low.
Apple Quietly Drops ESG Links From Top Executives’ Pay Packages
Two years ago, many of America’s largest companies began
Potential Amtrak Restructuring Feeds Union Privatization Fears
A top rail union is warning its members that a potential restructuring of Amtrak, also known as the National Railroad Passenger Corporation, could erode worker protections and lead to privatization of passenger rail nationwide.
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