President Trump's domestic agenda is now facing a new and major setback. This is on the budget and some of the things that Trump and the MAGA crowd want to ram through the budget, which is despite everything going on obviously in the world, still Donald Trump and the Republican party's greatest priority, getting this done somehow. And yet, as you're going to see in this breaking news, Republican senators are dealing with the setback in real time today.Well, I mean, as you know, it's pretty frustrating, righ ...

The Congressional Budget Office, known in your hood as the CBO, estimated that the GOP's tax bill will increase the deficit by $2.4% trillion over the next 10 years. University of Pennsylvania's Wharton budget model estimates that estimates that it could increase by as much as $4.3% trillion with the Senate and House hoping to have a finished version of the tax bill ready by July 4th. This could be the next big piece of economic data.I want to bring in Brett Ryan, Deutschbank's senior US economist. And stil ...

You, of course, just left the East Room where President Trump held this one big, beautiful event celebrating a bill that has yet to pass the Senate or repass the House. And obviously the parliamentarian in the Senate has thrown up some hurdles today. Is the parliamentarian making this effort harder, making it harder to meet the president's deadline of July 4th.I think reconciliation has a process and we all respect the process. So I think they just going through the way they do things in the Senate and I th ...

We're just a week away from the White House's uh self-imposed July 4th deadline to pass President Trump's mega bill. But even if it passes the Senate this week, the version they're sending back to the House is getting push back from some Republicans joining us now, Republican Congressman Chip Roy. Uh and you've made some some strong uh cases in the past on how you feel and you feel strongly congressman.Is is the Senate version in from what you know uh a a better do you like it more than than what the House ...

All right. So, just to for just for fairness, you didn't take the the survey. You're not one of these survey respondents.So, we're kind of getting a live read from you. Um, I want to go to tariffs. So, we again 41% said tariffs will directly impact their cost.For when it comes to your company, again, pet and animal medicine. Um, how are tariffs impacting your business. Look, as a global company, tariffs remain dynamic and we continue to watch it.But we have a global base. uh while about 50% of our business ...

Welcome back. Fed meetings getting underway today and some growing optimism perhaps among CNBC's Fed survey participants about the outlook for markets. Steve Leeman has the details for us.Steve. Yeah, David. A little bit brighter when it comes to the outlook for stocks with respondence to the CBC Fed survey uh lowering their recession probability and seeing more of a bounce back in the economy uh and stocks in 2026.Uh year end, we're looking at 6133. That's just up one and a half. But things look better for ...

Our next guest is here to weigh in on the budget bill talks in Washington, US trade, and much more. Joining us right now is former New Hampshire Governor Chris Cenounu. And Governor, thanks for coming in today. Thanks for having me.All right, we've seen the House version. Now the Senate is out with its version, which is very different. I was going to say they did not leave things alone like the House Speaker had kind of been begging them, don't change this because we have such a thin majority.I'm not going ...

All right. So, what do you make of some of this GOP infighting when it comes to this bill right now. Um, a number of issues.Why don't we start with one, the one that Emily was just referencing. Uh, Senator Holly having some questions about Medicare. And this is interesting.Uh, one of the the issues here in this bill is they want to cut the taxes that fund uh that provide funding for some Medicare that's going to impact rural hospitals, which Holly seems to be upset about. What do you make of kind of this bu ...

boosting the richest by $12,000 a year. Joining us right now is Phil Swagel. He's the director of the Congressional Budget Office.And Phil, let's talk through some of the criticism you've received. Russ Vought said on X that this bill reduces deficits by $1.4% trillion. When you adjust for the CBO's one big gimmick, not using a realistic current policy baseline.Caroline Leavitt said that the CBO assumes long term GDP growth of an anemic 1.8%. And that's absurd. And then you had President Trump himself sayin ...

Well, the um architects of that bill and President Trump want to see the uh 2017 uh TCJA tax cuts continue. And while they've um penciled in some tax cuts on tips and overtime um essentially the the um great bulk of the benefits go to the highest income people and then the cuts that they've specified to Medicaid, those affecting the Affordable Care Act coverage, uh the earned income tax credit, credit snap. Uh they all hurt the most vulnerable lowincome households highest.And then when you come back to the ...