Axios

Rep. Alexandria Ocasio-Cortez (D-N.Y.) is expected to enter the race for ranking member of the House Oversight Committee, four House Democrats with knowledge of her plans told Axios.

Why it matters: The 35-year-old lawmaker would easily be House Democrats' youngest committee leader at a time when some of their oldest are facing insurgent challenges.

President-elect Trump said he would nominate former Rep. Billy Long (R-Mo.) to be IRS commissioner.

Why it matters: Trump and congressional conservatives have long had the IRS in their crosshairs, opposing Biden administration efforts to ramp up the tax agency's funding and audit capability.

Israel gave Hamas an updated proposal for a deal to release some of the remaining 100 hostages held by Hamas and begin a ceasefire in Gaza, two Israeli officials said.

Why it matters: Israel hopes the killing of Hamas' leader Yahya Sinwar, a ceasefire in Lebanon and pressure from President-elect Trump could provide an opening to resume negotiations that have been deadlocked for three months, Israeli officials said.

Amazon founder and Washington Post owner Jeff Bezos said on Wednesday that he's optimistic about President-elect Trump's second term.

Driving the news: "I'm very optimistic that President Trump is serious about this regulatory agenda, and I think he has a good chance of succeeding," Bezos told Andrew Ross Sorkin at the New York Times DealBook Summit.

Vivek Ramaswamy told Axios' Mike Allen at the Aspen Security Forum on Wednesday that he's "hopeful" that slashing the federal workforce could be "good for many of the individuals who make a transition from government service back to the private sector."

Why it matters: As co-chair alongside Elon Musk of the newly created "Department of Government Efficiency," Ramaswamy hopes to dramatically reduce federal government headcount.

President-elect Trump will participate in his first network interview since the election with NBC News' Kristen Welker, airing on "Meet the Press" on Sunday.

Why it matters: Trump has filled out his Cabinet and made some major policy announcements since being elected, but he has dialed back his media presence.

Former House Speaker Nancy Pelosi (D-Calif.) told Axios on Wednesday that she is supporting "some" insurgent efforts by House Democrats to topple older committee ranking members.

Why it matters: Pelosi encouraged Rep. Jamie Raskin (D-Md.) to challenge House Judiciary Committee ranking member Jerry Nadler (D-N.Y.), Axios previously reported.

Should Ron DeSantis ditch the Florida governor's mansion for the Pentagon, President-elect Trump will gain another tough-on-the-border compatriot with military experience.

Why it matters: DeSantis pledged to wage war on cartels inside Mexico and has sent guardsmen to Texas for the troubled Operation Lone Star. He's a natural fit for Trump's plans to use the military for mass deportations.

Vivek Ramaswamy told Axios' Mike Allen at the Aspen Security Forum that it would be premature for his new efficiency commission — which he's co-leading with Elon Musk — to discuss sweeping cuts to Social Security, Medicare or Medicaid.

Why it matters: Those programs are by far the biggest lines in the federal budget, making them ripe targets for a commission with a mandate to slash spending. But cutting entitlements is also the third rail of American politics.

Rep. Jerry Nadler (D-N.Y.) will not seek to remain as ranking member of the House Judiciary Committee and is endorsing Rep. Jamie Raskin (D-Md.), his rival for the role, to succeed him.

Why it matters: Raskin had been seen as the heavy favorite to take down Nadler as part of a multi-committee effort by House Democrats to jettison their oldest leaders.

A board member for a veterans group told Fox News in 2016 that Pete Hegseth had resigned "voluntarily" from the group and was not fired as its leader, according to a private letter obtained by Axios.

Why it matters: The eight-year-old letter has surfaced as President-elect Trump's team is trying to save Hegseth's nomination as Defense secretary amid accusations about Hegseth's drinking and conduct toward women.

Bans on gender-affirming care for youth went from being a political nonstarter to a top priority for GOP legislators with the Supreme Court hearing oral arguments on Wednesday in a pivotal case on the issue.

The big picture: In the three years since the first state legislative ban on youth gender-affirming care was passed in 2021, such legislation has taken effect in 26 states, per the Human Rights Campaign.

Defense secretary nominee Pete Hegseth remained defiant during an interview with Megyn Kelly Wednesday, stressing that he still has the president's full backing.

Why it matters: Since he was tapped to lead the Pentagon, Hegseth has faced allegations of sexual misconduct, financial mismanagement and excessive drinking. Trump is reportedly considering backup options in case Hegseth cannot get Senate confirmation.

Defense Secretary nominee Pete Hegseth asked House conservatives on Wednesday to publicly back his confirmation, sources in the room told Axios.

Why it matters: Hegseth's request for conservatives to publicly back him comes as his nomination appears on shakier ground, with multiple GOP senators sharing concerns about misconduct allegations.

Christie Roberts, the executive director of the campaign arm of Senate Democrats, is expected to leave the group after two election cycles in charge, multiple sources told Axios.

Why it matters: Sen. Kirsten Gillibrand (D-N.Y.) is set to become the next Democratic Senatorial Campaign Committee chair, we scooped for you last month. She will have to find a new executive director to help win back the majority.

Defense contractor Anduril and ChatGPT maker OpenAI Wednesday announced "a strategic partnership to develop and responsibly deploy advanced artificial intelligence (AI) solutions for national security missions" with an initial focus on anti-drone systems.

Why it matters: The U.S. now sees AI as a global race, chiefly with China, to dominate the new technology and use it to further national interests. At the same time, debates still rage about AI's reliability and long-term safety.

President-elect Trump on Wednesday announced that he will nominate Gail Slater as head of the Justice Department's antitrust division.

Why it matters: Slater will inherit a number of big cases, including one that seeks to break up Google.

President-elect Trump on Wednesday said he would nominate former SEC commissioner Paul Atkins to be chairman of the regulator.

Why it matters: Atkins is a favorite of the crypto community, and his appointment signals an even deeper embrace by the coming administration.

The Supreme Court seemed inclined Wednesday to uphold laws that ban gender-affirming care for transgender youth.

The big picture: Medical authorities in the U.S. largely agree that treatments like puberty blockers and hormone therapy are safe, but the court's conservative justices indicated they do not want to overrule state laws banning them for children.

Rep. Jamie Raskin (D-Md.) is seen by colleagues as a decisive favorite to topple House Judiciary Committee ranking member Jerry Nadler (D-N.Y.).

Why it matters: A win for Raskin would be a major break with House Democrats' seniority system as multiple lawmakers try to oust older committee leaders.

President-elect Trump said Wednesday that he has asked Michael Whatley to remain chairman of the Republican National Committee.

Why it matters: Whatley was likely to bear much of the blame from Trump if he lost last month. But with his decisive victory, the president-elect wants Whatley to lead the RNC through another term.

President-elect Trump announced Wednesday that he has nominated Jared Isaacman, billionaire and commercial astronaut, as the next head of NASA.

Why it matters: Isaacman is a close associate of Elon Musk, who has emerged as one of Trump's biggest backers, and his selection is a boon for Musk's company SpaceX.

President-elect Trump announced Wednesday that Peter Navarro will return to the White House as his senior counselor for trade and manufacturing.

Why it matters: Navarro, who was released from federal prison in July, was the first high-ranking Trump official to serve time over actions related to the Jan. 6 Capitol riot.

Unprecedented pushback helped soften the tougher regulatory rules awaiting the nation's biggest banks. President-elect Trump's return to the White House might kill them altogether.

Why it matters: Corporate America anticipates Trump will usher in an era of light-touch regulation. A regulatory overhaul meant to safeguard the financial system is on hold indefinitely, if not outright dead.

Rep. Anthony D'Esposito (R-N.Y.) is lobbying to become President-elect Trump's nominee to lead the Drug Enforcement Agency after losing his reelection bid last month, sources familiar with the matter tell Axios.

Why it matters: Trump's initial pick for the role, Chad Chronister, withdrew from consideration Tuesday under entrenched opposition from the right.

President-elect Trump will nominate JD Vance's friend and Yale Law School classmate Dan Driscoll for Army secretary, Trump announced today on Truth Social.

Why it matters: If confirmed, Driscoll would be the civilian leader of the U.S. Army, overseeing the service's annual budget and its workforce of over a million active-duty, National Guard and reserve soldiers, plus more than 330,000 civilian employees.

President-elect Trump is considering replacing Pete Hegseth — his current nominee to lead the Defense Department — with Florida Governor Ron DeSantis, multiple outlets reported.

Why it matters: Hegseth's path to confirmation appears in jeopardy. Some Senate Republicans have expressed reservations about the Fox News host after a sexual assault allegation against him resurfaced last month.

A dramatic day in South Korea will put more pressure on the incoming Trump administration to figure out an already strained but strategically crucial trade relationship.

Why it matters: While South Korea is one of the closest U.S. allies in Asia, Trump's new economic team has a deep background in — and concern about — the growing trade deficit between the two countries.

President-elect Trump vowed to limit access to gender-affirming care, especially for children. But judges he appointed may have laid the groundwork to save it.

The big picture: The first major post-election referendum on trans health care is happening Wednesday at the Supreme Court — and the issue has transcended the court's usual ideological divisions before.

Some of the earliest and lasting effects from President-elect Trump's promised immigration crackdowns would be in home health and long-term care, both of which rely on a substantial number of immigrants and undocumented workers.

Why it matters: Reducing an already thin labor market could have serious ramifications for aging adults or those with disabilities — and potentially put more stress on family caregivers.

The greater Middle East is erupting, and in just six weeks — tick tock, tick tock — it's Donald Trump's problem.

Why it matters: For all the attention paid to technological face-offs with China and measurements of military might in the Indo-Pacific, it will be the pressures of the Middle East that dominate the early days of Trump's Pentagon.

President-elect Trump's bombastic policy threats, Mar-a-Lago missives and mere presence have become a driving force in markets and capitals around the world, six weeks before Trump's inauguration.

Why it matters: Only one man occupies the White House. But the norm-busting assertiveness of Trump and his transition team — and the rapidly fading relevance of President Biden — have given the U.S. something of a two-headed presidency.

President Biden's pardon of his son Hunter has opened the floodgates to a battery of requests from members of Congress in both parties for additional pardons.

Why it matters: Biden has received more than 10,500 pardon requests over his four years in office but has only issued 25, a historically low number even for single presidential terms, according to the Justice Department.

Kash Patel, President-elect Trump's pick for FBI director, was targeted in an Iranian cyber attack, Semafor first reported on Tuesday evening.

Why it matters: This would mark the latest in a series of alleged Iranian hack attacks on Trump's associates.

Democrats won the final uncalled U.S. House race in California on Tuesday, ensuring Republicans will have a painfully miniscule majority next year.

Why it matters: This could cause all kinds of problems for House Speaker Mike Johnson (R-La.) and President-elect Trump as they try to quickly pass a sweeping conservative policy agenda through Congress.

A man in California has been arrested for allegedly sending weapons and ammunition to North Korea from the U.S., prosecutors announced Tuesday.

The big picture: Shenghua Wen, a Chinese national living unlawfully in Ontario, Calif., is accused of spending $2 million on weapons for Pyongyang and allegedly told the FBI he believed Kim Jong-un's regime wanted the arms "to prepare for an attack against South Korea," per a criminal complaint.

Senate Democratic leader Chuck Schumer's (D-N.Y.) late push to get landmark marijuana legislation passed this year looks doomed, sources tell Axios.

Why it matters: The next few weeks are Democrats' last chance to get the weed banking bill passed. Now it will have to find an unlikely way through a Republican-dominated Congress.

Outgoing Senate GOP leader Mitch McConnell (R-Ky.) went out of his way on Tuesday to praise Speaker Mike Johnson (R-La.) behind closed doors, Axios has learned.

Why it matters: It was a signal to the conference McConnell has led for 18 years that the still-new House speaker should be trusted and supported.

Rep. Alexandria Ocasio-Cortez (D-N.Y.) said Tuesday she is considering running to lead Democrats on the House Oversight Committee.

Why it matters: She would be easily one of the highest profile — and youngest — candidates in a series of contested committee battles raging across the House Democratic caucus.

President-elect Trump's pick to run the Drug Enforcement Administration (DEA), Chad Chronister, said Tuesday he's withdrawing his name from consideration for the role.

The big picture: Some conservatives criticized the nomination three days ago because of the Tampa-area sheriff's decision to enforce COVID lockdowns during the pandemic.