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Business & Economy
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Business & Economy
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Agencies grapple with responding to Musk order
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The Office of Personnel Management informed officials at federal agencies that employee responses to an email asking for a recap of what they accomplished last week are voluntary and failure to do so will not be considered a resignation.
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The guidance given to the human resources officers undercuts a Saturday push from Elon Musk demanding all federal employees send five bullet notes of what they accomplished in the week prior by 11:59 p.m. EST Monday or face removal.
Several departments had already instructed employees not to respond to the email.
In a message to staff Saturday, FBI Director Kash Patel said that “when and if further information is required, we will coordinate the responses. For now, please pause any responses.”
“The FBI, through the Office of the Director, is in charge of our review processes and will conduct reviews,” he added.
Department of Homeland Security (DHS) leadership sent an email to its more than 250,000 employees likewise directing them not to respond to the email.
“DHS management will respond on behalf of the Department and all its component offices,” the email stated.
The Hill’s Rebecca Beitsch has more here.
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Welcome to The Hill’s Business & Economy newsletter, I’m Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.
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Key business and economic news with implications this week and beyond:
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Sen. Elizabeth Warren (D-Mass.) on Monday questioned Secretary of Commerce Howard Lutnick over the access tech billionaire Elon Musk’s Department of Government Efficiency (DOGE) has to his competitors and business partners.
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The Securities and Exchange Commission (SEC) has closed its investigation into the cryptocurrency arm of Robinhood without taking action against the online brokerage, the company announced Monday.
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The former head of the Food and Drug Administration’s (FDA) drug division is joining Pfizer as its chief medical officer, the company announced Monday.
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A video produced using artificial intelligence (AI) showing President Trump rubbing and kissing Elon Musk’s feet played on television screens in the Department of Housing and Urban Development (HUD) building Monday in an apparent mocking of the relationship between the two men.
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Not all on board with preferred GOP accounting method
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Welcome to Tax Watch, a new feature focused on the fight over tax reform and the push to extend the 2017 Trump tax cuts this year.
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Republicans are dissenting in both the House and Senate over an accounting assumption preferred by many in the party that would effectively allow the $4.6 trillion price tag of extending the Trump tax cuts to be ignored.
Known as working from the “current policy” baseline, the move would ignore the fact that the Trump tax cuts are expiring and just assume for accounting purposes that they’re continuing indefinitely.
Sen. Bill Cassidy (R-La.) filed an amendment last week to a Senate budget resolution that would “strike references to current policy accounting,” breaking from the assumption held by many Republicans.
Rep. David Schweikert (R-Ariz.) has also disparaged the tactic, calling it fraudulent.
“He’s not wrong,” Adam Michel, director of tax policy studies at the libertarian CATO Institute, said of Schweikert’s position on social media.
The House and Senate are pursuing two different tracks for advancing President Trump’s agenda. The House bill includes extending the Trump tax cuts while the Senate would include it in a subsequent bill this year.
— Tobias Burns
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Upcoming news themes and events we’re watching:
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- House GOP leadership is planning to hold a vote on their budget resolution this week, as both chambers ramp up efforts to advance key parts of President Trump’s legislative agenda.
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Branch out with more stories from the day:
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WASHINGTON (AP) — A federal judge on Monday refused to immediately order the White House to restore …
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Business and economic news we’ve flagged from other outlets:
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- S&P 500 closes lower Monday as market’s comeback attempt fizzles (CNBC)
- Surging egg prices are pummeling America’s bakeries (CNN)
- The Bond Market Isn’t Fully Buying What Musk’s DOGE Is Selling (Bloomberg)
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Top stories on The Hill right now:
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The Office of Personnel Management (OPM) informed agency leaders that employee response to an email asking for a recap of what they accomplished last week is voluntary and that failure to do so will not be considered a resignation. Read more
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Democrats are anxious to rebuild their party on the heels of President Trump’s victory in November. But they have a major problem as they try to refashion their brand: The money isn’t there. Read more
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Opinion related to business and economic issues submitted to The Hill:
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You’re all caught up. See you tomorrow!
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