Bloomberg Talks

Mick Mulvaney Talks Tariffs, Congress

Jul 8, 2025
Mick Mulvaney, former acting White House chief of staff and co-founder of the House Freedom Caucus, shares insights on the current state of congressional dynamics. He expresses skepticism about the passage of a rescissions package amidst slim margins. Mulvaney discusses the shifting influence of the Freedom Caucus in aligning with Trump's priorities. The unpredictable nature of tariff deadlines is also highlighted, emphasizing their impacts on market reactions and trade negotiations. Tune in for a deep dive into the complexities of modern governance.
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INSIGHT

Freedom Caucus Influence Evolution

  • The Freedom Caucus remains relevant due to its ability to influence tight votes in the House.
  • It shifted from a fiscal conservative stance to being Trump loyalists, focusing less on spending and more on MAGA.
INSIGHT

Legislative Work Mostly Done

  • The hardest legislative work is done with the "one big, beautiful bill" passed.
  • Future efforts will shift to executive tasks like foreign policy and diplomacy, which are harder but the legislative agenda is essentially finished.
INSIGHT

Mick Mulvaney Reveals The Shift of the Freedom Caucus from Fiscal Conservatives to MAGA Foot Soldiers

The Freedom Caucus, co-founded by Mick Mulvaney, remains relevant but has transformed significantly under President Trump. Initially a fiscally conservative group, the caucus is now described by Mulvaney as "foot soldiers for the Trump presidency," prioritizing MAGA over fiscal restraint. Mulvaney explains, "If Barack Obama had offered that exact same bill, I don't think that the Freedom Caucus would have supported it," highlighting their shift from spending concerns to loyalty to Trump’s agenda.

This change means the Freedom Caucus has less focus on spending cuts and more on aligning with Trump's policies, such as supporting massive tariffs. Mulvaney states, "This is Trump's party now...Whatever Trump says Republicans are for now, the party is for." This signals a broad realignment where the caucus's influence persists, but its priorities have evolved with the political landscape.

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