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A look at the fallout from Senator Lindsey Graham's unexpected death and the impact it has on reconciliation 3.0 chances, a potential for $350 billion in defense funding and the appropriations process led Bloomberg Intelligence's July 13 Washington Policy Pulse. The death of the Senate Budget Committee chairman -- who was a key proponent of another reconciliation package -- probably puts further roadblocks on the idea and supports our view that such a package has a low chance of success in 2026. We also discussed the forecast for the CLARITY Act and whether or not a crypto bill can pass in July. For crypto platforms like Robinhood and Coinbase, the failure to pass the bill in 2026 likely leaves the industry with regulatory certainty only for a few years, not long-term. Finally, we previewed Fed Chairman Kevin Warsh's testimony on Capitol Hill and whether or not he will address bank regulatory matters important to Bank of America, Citigroup and Wells Fargo. The Bloomberg Intelligence Financial Policy weekly call is designed to provide investors an opportunity to learn about the most recent relevant policy research, information regarding forthcoming political catalysts and other on-goings within Washington DC. The call is open to all and is held every Monday at 10:00 a.m. EST. You can register for the call here: https://bloomberg.zoom.us/webinar/register/WN__PqCkwY- S2m3hbQqvVC1_Q#/registration

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Trump and lawmakers spoke out Monday in memory of South Carolina Senator Lindsey Graham after his sudden death early Sunday morning. In a social media post over the weekend Trump remembered Graham as, "one of the greatest people and Senators I have ever known.” Graham was known as a staunch foreign policy hawk and had spent his final days in Ukraine working to support the country's fight against Russia and was pushing for an increased Russian sanctions package. Graham's death opens up questions about the legislative path forward in the Senate, as well as questions about who will succeed him in his seat. 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: Bloomberg Washington Correspondent Tyler Kendall. Bloomberg Congressional Reporter Erik Wasson. Hudson Institute Senior Fellow Rebeccah Heinrichs. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Chairman of Advancing American Freedom and Former Director of Legislative Affairs at the White House Marc Short.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. 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 US Ambassador to Iraq James Jeffrey. Bloomberg Tech Host Ed Ludlow Bloomberg Washington Correspondent Tyler Kendall. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg Television Markets Correspondent Norah Mulinda. Quincy Institute for Responsible Statecraft Executive Vice President Trita Parsi.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. 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: Bloomberg Washington Correspondent Tyler Kendall. Bloomberg Economics Defense Lead Becca Wasser. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Former Director for Iran at the National Security Council Emily Harding.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. 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: Bloomberg Chief Political Correspondent Annmarie Hordern. Carnegie Endowment for International Peace Senior Fellow Aaron David Miller. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg TV Markets Correspondent Norah Mulinda. Former Republican Congressman Patrick McHenry.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. 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: Bloomberg Chief Political Correspondent Annmarie Hordern. Atlantic Council Nonresident Senior Fellow Melinda Haring. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. EqualAI President and CEO Miriam Vogel.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. 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: Bloomberg Washington Correspondent Tyler Kendall. Former US Ambassador to NATO Ivo Daalder. Bloomberg News Business of Sports Reporter Randall Williams. BGR Group Principal Lester Munson and Vantage Global Media Founder Jamie Jackson. SMBC Americas Chief Economist Joe Lavorgna.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. 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: Bloomberg International Economics and Policy Correspondent Michael McKee. Republican Congressman Jason Smith of Missouri, House Ways and Means Committee Chairman. Stonecourt Capital Partner Rick Davis and Democratic Strategist Matt Robison. Democratic Congresswoman Suzan DelBene of Washington, Democratic Congressional Campaign Committee Chair.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. 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: Bloomberg White House and Washington Correspondent Jeff Mason. Rebelle Communications CEO Laura Fink and Digital Push Vice President T.W. Arrighi. Former Republican Congressman Patrick McHenry. Bloomberg Television Markets Correspondent Norah Mulinda. National Association of Manufacturers President Jay Timmons.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. 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: Bloomberg Washington Correspondent Tyler Kendall. Stonecourt Capital Partner Rick Davis and Maywood Strategies Principal Doug Farrar. Bloomberg News Legal Reporter Erik Larson. Former FTC Commissioner Rebecca Slaughter. Bloomberg White House and Washington Correspondent Jeff Mason. Kpler Head of Policy and Geopolitical Risk Michelle Brouhard.