Afternoon Briefing — June 3, 2026

Trump Administration Actions. The Trump Administration is fighting a court order to refund some tariffs. Separately, an official in the Trump Administration deleted a post that suggested a new path to compensate victims of lawfare. IBM CEO backs Trump's narrowed AI executive order, indicating support for the administration's approach to artificial intelligence regulation.

Congressional Activity. The Senate is moving forward with a reconciliation bill, dropping ballroom funds from the legislation. Senators Cruz and Cantwell have introduced a bill to overhaul college sports, which has received backing from Nick Saban. Additionally, Khanna and the China committee are pressing Blanche for a report on Chinese manufacturing in the U.S.

Federal Economic and Security Updates. The Fed Beige Book indicates steady employment but also higher inflation. In security news, the Pentagon’s watchdog has been named as the lead inspector for the Iran war. The Department of Homeland Security (DHS) revealed that sex criminals and gang members abused a child immigration program to enter the U.S.

IRS Commissioner Duties. Bessent stated he is performing IRS commissioner duties amid scrutiny over a Trump tax settlement. Bessent also clarified a threat against Bill Pulte, saying he told Pulte he was going to "kick his a--." This comes as questions arise regarding his role and interactions.