The Trump administration is freezing nearly $18 billion in federal funding, affecting two major New York infrastructure projects, for what budget director Russ Voughtdeemed "unconstitutional DEI principles" Wednesday.
Why it matters: The Transportation Department, which is conducting a review of federal grants for DEI practices, alsohalted a $300 million payment that, with the larger freeze, could delay the Hudson River Tunnel and Second Avenue Subway projects.
Canada issued a travel advisory warning citizens with an "X" gender marker on their passports that some countries, including the U.S., may deny them entry.
Why it matters: Canadians and travelers from other countries with "X" passports risk being turned away at U.S. borders as President Trump escalates the fight to include only two sexes on federal documents.
The third government shutdown of President Trump's tenure puts him in the top three among presidents presiding over funding gaps, but the 37 lost days are only second to former President Carter.
Why it matters: Though the 35-day government closure during his first term set the record, former President Reagan owns the most funding lapses with eight.
President Trump announced "TrumpRx" Tuesday, a government-run website with Pfizer as its first partner, offering select drugs at discounts.
Why it matters: TrumpRx is the administration's latest move to bring down U.S. drug prices, but it's unlikely to save much for the 92% of Americans with health insurance.
Office of Management and Budget Director Russell Vought said the Trump administration will begin firing federal workers in a "day or two," sources told Axios.
Why it matters: It's the first day of a government shutdown, and the White House and GOP leaders are moving to maximize pressure on Democrats — aiming to make the fallout as painful as possible for them.
At least six houses buckled under the rough waves slamming North Carolina's Outer Banks from Hurricanes Imelda and Humberto this week, according to the National Park Service.
Why it matters: At least 18 privately-owned homes have collapsed along North Carolina's coast since 2020, aided by soil erosion from rising seas and storms.
Rep. Jared Golden (D-Maine) said Wednesday that his party is giving in to "the demands far-left groups are making" to shut the government down as a display of opposition to President Trump.
Why it matters: It's a direct contradiction of Democratic leadership's message that Trump is responsible for the shutdown for refusing to come to the table and negotiate on health care.
Female veterans denounced Defense Secretary Pete Hegseth's speech this week outlining his anti-woke military agenda, disputing his claims that standards were lowered to allow thousands of women in combat roles.
The big picture: Hegseth, who before joining the administration argued women shouldn't serve in combat roles, painted an image of a military that risked becoming less lethal in his Quantico address and vowed a "ruthless" application of fitness standards.
Washington is watching closely a handful of Senate Democrats who could hold the keys to ending the first government shutdown since 2019.
Why it matters: Republicans need just seven Senate Democrats to break ranks and vote for a GOP-led government funding bill. So far, Democrats are mostly holding strong.
Divisions between MAGA and the White House are taking a backseat as an intense focus on "leftist violence," Charlie Kirk's assassination and other culture wars fuels a hunger to wield raw power against liberals.
Why it matters: MAGA is marching in lockstep with President Trump, even when his policies clash with their demands. Under this new playbook, policy fissures can be overlooked in favor of a unified offensive against the left.
Unemployment is low, the stock market booming, GDP growth surging, and inflation reasonably well-behaved. It seems like a recipe for a morning-in-America surge of economic optimism.
The big picture: Nope.
A range of measures show Americans to be exceptionally gloomy about the economic picture.
Federal Reserve governor Lisa Cook can remain in her job at least through January as the Supreme Court hears a case over whether President Trump can fire her, the court said Wednesday.
Why it matters: It is a win for Cook and advocates of central bank independence, who believe that if she was temporarily removed without the matter being litigated, it would open the door for a president to fire any Fed governor for dubious cause.
Democratic Texas state Rep. James Talarico raised more than $6.2 million in three weeks after launching his Senate bid last month, his campaign announced Wednesday.
Why it matters: Talarico's fundraising haul is setting up an intriguing — and potentially expensive — primary battle for Democrats in the Lone Star State.
Why it matters: If the White House follows through on the threat, the shutdown could bring another wave of layoffs for a federal workforce already hollowed out by Trump's DOGE cuts earlier this year.
Pfizer's decision to announce a deal with the Trump administration on drug prices Tuesday caused an uproar within much of the pharmaceutical industry, most of which was caught off guard by the announcement.
Why it matters: Pfizer CEO Albert Bourla's acquiescence to President Trump's demands — broadcast live from the Oval Office as the two men stood side by side — puts much more pressure on other drug companies to fall in line after months of unified resistance to Trump's "most favored nation" pricing plan.
One in six aspiring buyers has abandoned their dreams of homeownership in the past six years because they couldn't afford a house that they liked, according to a new Bankrate survey.
Why it matters: Homeownership is typically seen as a pillar of the American Dream, but the punishing combination of rising home prices, high mortgage rates and a looming housing shortage has kept purchasing out of reach for many.
Republicans are banking on Democrats blinking first to end a government shutdown. But just in case, they're going to make it as painful as possible.
Why it matters: Six months of grassroots fury — and we mean fury – have pushed Democrats to embrace a shutdown as leverage against Republicans. Both sides are dug in.
Stocks keep grinding higher and Wall Street remains sanguine about policy risks, yet the grounds-eye view of the economy from a big regional lender is more cautious. Tariffs, the CEO of Citizen Financial tells Axios, still have the potential to trigger an economic slowdown.
Why it matters: While ignoring tariffs has been a critical part of the bull market formula, the bank's CEO, Bruce Van Saun, warns investors to check their "unbridled enthusiasm."
The seeds of the plan President Trump presented on Monday to end the war in Gaza were planted three weeks earlier, when Israel bombed Qatar in a failed attempt to assassinate Hamas leaders.
The big picture: The Israeli strike united Arab leaders in outrage at Prime Minister Benjamin Netanyahu and intensified calls within Israeli society for a deal to free the remaining hostages and end the war.
More than 800 top military brass sat quietly Tuesday as President Trump declared a new "war from within" — an American battlefield he claimed to be more dangerous than any foreign war zone.
Why it matters: In one historic speech at the Quantico Marine Corps Base in Northern Virginia, Trump eviscerated decades of civil-military restraint and proclaimed the armed forces as his weapon of choice against domestic "enemies."
The federal government will shut down for the first time since 2019 after the Senate on Tuesday failed to pass a government funding measure ahead of a midnight deadline.
Why it matters: Party leaders don't appear anywhere close to a compromise, and a path to reopening the government is unclear.
Maine oyster farmer Graham Platner raised $3.2 million in the first quarter since announcing his Senate campaign, his team told Axios first.
Why it matters: It won't be a cakewalk for Maine Gov. Janet Mills if she jumps into the Democratic contest to take on Republican Sen. Susan Collins in 2026.
The White House withdrew the controversial nomination of economist E.J. Antoni to head the Bureau of Labor Statistics on Tuesday.
Why it matters: Antoni was a favorite of MAGA stalwarts like Steve Bannon, but even conservative economists viewed him as unqualified and too partisan.
