Good afternoon! The Trump administration spent much of the week focused on a potential breakthrough on the Iran conflict. A federal judge declined to block the administration’s mail-in voting executive order. The House and Senate were in recess this week. The House Armed Services Committee released a draft of its $1.15 trillion Fiscal Year 2027 National Defense Authorization Act.
WHITE HOUSE
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President Trump convened his 12th cabinet meeting Wednesday, using the open-press session to address the Iran negotiations and domestic policy. President Trump said Tehran is “negotiating on fumes” and expressed confidence a deal is near.
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U.S. and Iranian negotiators reached a tentative agreement Thursday to extend the ceasefire by 60 days and begin nuclear talks, pending President Trump’s approval. The memorandum of understanding (MOU) would require Iran to permit unrestricted commercial shipping through the Strait of Hormuz, clear all mines within 30 days, and eliminate tolls on cross-strait traffic. In return, the U.S. would gradually lift the naval blockade and certain sanctions on Iranian oil exports.
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Treasury Secretary Scott Bessent stated that U.S. demands include Iran pledging to forswear nuclear weapons and dispose of highly enriched uranium. Reports indicate the MOU includes a $300 billion reconstruction pledge and a gradual release of frozen Iranian funds through third parties such as Qatar, though these figures are attributed to an Iranian lawmaker and have not been confirmed by the U.S. The MOU reportedly also seeks an end to the Israel-Hezbollah conflict.
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Friday afternoon President Trump signaled he is moving closer to the deal, announcing he was holding a meeting in the Situation Room to make a final determination. Iran had not confirmed acceptance of the deal, and the state-linked Tasnim agency reported the text was still under negotiation.
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U.S. Customs and Border Protection (CBP) reported in a court filing Tuesday that approximately $20.6 billion in tariff refunds have been processed and will be issued to importers; there are approximately $85 billion in claims being processed through the agency’s online refund system. The refunds follow the Supreme Court’s February decision that President Trump unlawfully imposed the tariffs under a 1977 law.
- On Thursday, U.S. District Judge Carl Nichols declined to immediately block President Trump’s March 31 executive order tightening mail-in voting rules. He ruled that the Democratic plaintiffs’ request for a preliminary injunction was premature but indicated a future challenge could proceed once the administration takes further action. The decision did not address the order’s legality.
SENATE
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The Senate is in recess until June 1.
- The Senate Armed Services Committee may begin marking up the Fiscal Year 2027 (FY27) National Defense Authorization Act (NDAA) the week of June 8. Subcommittees are scheduled to meet June 8. The full committee has scheduled its markup, which will be closed to the public, for June 9.
HOUSE
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The House is in recess until June 3.
- The House Armed Services Committee released its FY27 NDAA text Tuesday, proposing $1.15 trillion for defense programs and personnel and an emphasis on strengthening the U.S. defense industry. Unlike the Senate, the House committee will forgo subcommittee markups. The full Committee will mark up the bill June 4.
