And speaking of risks, here comes a new one for the AI trade from Washington. Dearraosa has more in today's tech check. Hi Deerra.So Kelly, this is why it's a risk. It's because political pressure can raise costs very quickly. States, they can require more upfront.They can lock in longer power contracts, even create special rate classes that shift more of the cost back to big tech. And that pressure is building. Three Democratic senators, Elizabeth Warren, Chris Van Holland, and Richard Blumenthal.They sent ...

Data centers now under some growing pressure, not just in the markets, but also on Capitol Hill. Three Democratic senators, Elizabeth Warren, Chris Van Galand, and Richard Blumenthal are investigating big tech's role in rising power costs. Our dear DBosa is digging into that in today's tech check.Hey D. >> Hey, morning Carl. So, this opens up a new front of risk for the AI trade.Wall Street, yes, it's already started pricing in the financial side of the AI buildout, but what is not yet priced in is a politi ...

Political Context - The report discusses the potential release of files related to Jeffrey Epstein, with Democrats allegedly using Epstein emails to distract from the shutdown [1] - A discharge petition in the House has enough signatures to force a vote on the release of documents, with some Republicans supporting the release [2] - The release of the files faces hurdles in the Senate, requiring 60 votes out of 53 Republicans for passage [3] - Even if passed by the Senate, President Trump is likely to veto the release, despite campaigning on transparency [3][4] Potential Impact - The situation is adding political pressure on the White House, given President Trump's past promises [4] - President Trump maintains he had no knowledge or involvement in Jeffrey Epstein's crimes [4]

Disaster Impact & Response - At least 173 people are missing and the death toll has risen to 120 in Texas due to devastating flash floods [1] - The number of flood-related deaths in the US reached 145 in 2024, significantly above the 25-year average of 85 deaths per year [3] - Texas, North Carolina, New Mexico, and Chicago experienced four recorded flood events within a week [5] - Elimination of FEMA could leave states like Texas and Florida without a crucial backstop during disasters [7][8] Budget Cuts & Potential Consequences - Federal budget cuts leading to a lack of weather balloons may have slightly degraded the ability to forecast the Texas floods in advance [2] - Proposed cuts to NOAA, including climate research funding, could make the US less safe in the future [4] - The administration's proposed cuts to departments could result in hundreds of billions of dollars in bills and drain economic activity [13] - Cuts to social safety nets are being considered to pay for tax cuts [14] Political & Economic Considerations - Disasters like the Texas floods are likely to spark conversations about the impact of budget cuts, particularly those involving science and research [5][6] - Lack of disaster preparedness due to budget cuts could lead to significant economic damage [9] - Recovery efforts after disasters, such as Hurricane Katrina, highlight the important role of FEMA and the potential economic impact of inadequate rebuilding [10] - Political pressure will likely mount on both sides regarding disaster relief, especially since the Texas flood occurred in a red state [11]

Legislative Process & Political Dynamics - GOP leadership faces challenges in securing votes for the bill, needing to persuade various Republican factions [1][2][3] - The House GOP leadership aims to pass the bill quickly to meet a self-imposed July 4th deadline, but faces resistance from hardliners [4][5] - GOP leadership is hesitant to alter the Senate-approved bill to avoid sending it back to the Senate for further approval [6] - The White House is exerting pressure on Republican representatives to support the bill, leveraging the President's influence and potential political consequences [11][12] - There are concerns that presidential pressure may be less effective on Republicans in swing districts who are more concerned about general election problems [19][20] Key Issues & Concerns - Concerns exist regarding cuts to Medicaid and food stamps, particularly their impact on rural hospitals and vulnerable populations [3][23][24] - The bill is criticized for disproportionately benefiting the wealthy through tax breaks while negatively impacting food security and healthcare access for the poor [22][23][24] - Some senators and representatives express dissatisfaction with the bill and the rushed process, questioning the artificial July 4th deadline [28][30][31] Potential Outcomes & Uncertainties - The White House remains confident that the bill will eventually pass, potentially with a slight delay beyond the July 4th deadline [9] - The number of Republican representatives opposing the bill is uncertain, with estimates suggesting a dozen or more expressing reservations [15][16] - The outcome of the House vote remains uncertain, with potential for significant arm-twisting and threats to secure passage [21][22]