Balance of Power

A review of President Donald Trump's fiscal year 2027 budget request -- and the implications for the defense sector given the White House's $1.5 trillion ask for national security -- led Bloomberg Intelligence's April 6 version of the Washington Policy Pulse. While White House budget requests are never fully implemented by Congress, Trump's goal of $350 billion in additional funding for the Iranian conflict could come during another round of reconciliation. We also dove into the latest on efforts to re-open the Department of Homeland Security and previewed the funding fights for the rest of 2026.

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Insight & analysis on the White House and Capitol Hill.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

US allies are reportedly pressing for a last-minute deal with Iran, as President Donald Trump extended his deadline to Tuesday for Tehran to reopen the Strait of Hormuz, keeping markets on edge over whether a breakthrough can be reached.

Axios reported that Pakistan, Egypt and Turkey are pushing to secure a potential ceasefire — lasting about 45 days — to head off threatened US strikes on Iran’s energy infrastructure and retaliation by the Islamic Republic against countries in the region.

Fighting continued, with Israel, Kuwait and the United Arab Emirates reporting Iranian attacks overnight into Monday. Israel struck Iran’s biggest petrochemical facility, which is responsible for 50% of the petrochemical production in the country, Defense Minister Israel Katz said.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe speaks with:
Bloomberg Washington Correspondent Tyler Kendall.
Bloomberg Intelligence Senior US Policy Analyst Nathan Dean.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
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Insight & analysis on the White House and Capitol Hill.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Attorney General Pam Bondi is leaving her post as head of the US Justice Department, ending a tumultuous tenure as the nation’s top law enforcement official after stumbles in her efforts to carry out President Donald Trump’s agenda.

“We love Pam, and she will be transitioning to a much needed and important new job in the private sector, to be announced at a date in the near future, and our Deputy Attorney General, and a very talented and respected Legal Mind, Todd Blanche, will step in to serve as Acting Attorney General,” Trump said in a post on Truth Social.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe speaks with:
Bloomberg Washington Correspondent Tyler Kendall.
Stonecourt Capital Partner Rick Davis and Third Way Executive Vice President Matt Bennett.
Bloomberg White House and Washington Correspondent Jeff Mason.
Constitutional Lawyer Robert McWhirter.
Groundwork Collaborative Managing Director Liz Pancotti.
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President Donald Trump said the war in Iran is “very close” to completion, even as he signaled strikes could escalate in the near term.

Trump in a rare prime-time address on Wednesday cast the war as a success, saying the operation had nearly achieved its military goals, including destroying Iranian ballistic missiles and drones, air force, navy and industrial base. He said those steps would prevent Tehran’s proxies from destabilizing the region and cut off the country’s path to nuclear weapons.

“Tonight I’m pleased to say that these core strategic objectives are nearing completion,” Trump said from the White House in a roughly 20-minute speech. “We are going to finish the job. and we’re going to finish it very fast, we’re getting very close.”

The speech came as the president is grasping for an off-ramp in a conflict that has quickly slipped out of control.

For instant reaction and analysis, Bloomberg Radio host Doug Krizner speaks with Bloomberg This Weekend co-host Christina Ruffini and Bloomberg White House and Washington correspondent Jeff Mason.
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Insight & analysis on the White House and Capitol Hill.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

US President Donald Trump said he’ll only consider a halt to attacks on Iran when the Strait of
Hormuz is reopened, sowing further confusion about how long he’s prepared to continue the war.

Iran’s “New Regime President” has asked the US for a ceasefire, Trump said in a social-media post on Wednesday, possibly referring to comments Masoud Pezeshkian made Tuesday that the Islamic Republic has “the necessary will” to end this war — with certain guarantees.

“We will consider when Hormuz Strait is open, free, and clear,” Trump said. “Until then, we are blasting Iran into oblivion.”

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:
Former Vice President Mike Pence.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Bloomberg Washington Correspondent Tyler Kendall.
Gulf Oil Chief Energy Advisor Tom Kloza.
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