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.
AI Snips
Chapters
Transcript
Episode notes
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.
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.
Rescission Package Unlikely to Pass
- The rescission package is unlikely to pass because it would disrupt bipartisan spending agreements.
- Passing rescissions risks killing future bipartisan budget deals and could lead to continuing resolutions.