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Good morning. I'm Jake Sherman and welcome to The Daily Punch, brought to you by Punch Bowl News.

It is Thursday, June 5th, 2025. Let's get into the mix. Here are your Washington headlines of the day.

Number one, the Senate and Donald Trump have some big tax differences. Number two, Mike Rogers gets crypto backing in his Michigan Senate bid. And number three, Ted Cruz looks to

close a spectrum deal. Let's get into it. A very, very interesting day in Washington yesterday as

the Senate Republicans went to the White House. They held two

big meetings yesterday, and this will in some respect set the tone for the reconciliation

debate going forward. Senate Republicans and the White House are at huge odds over potential

changes to the reconciliation package.

That's the reconciliation package that House Republicans have passed after weeks of Mike Johnson

telling Senate Republicans that they have to, have to, have to change very little in the

reconciliation package.

They are, Senate Republicans are looking at big changes. Let's be honest, they're looking at quite big changes to the reconciliation package, they are, Senate Republicans are looking at big changes.

Let's be honest, they're looking at quite big changes to the reconciliation package.

With Senate Republican leadership under tremendous pressure from defense talks, there's only so

much that House, that Senate Republicans can spend in the reconciliation package.

...