Axios

Trump allies want to smash the Guinness World Record for the world's biggest fireworks show, planning over 30 minutes of pyrotechnics in D.C. this July 4.

Why it matters: The supersized spectacle for America's 250th birthday is the latest Trump touch on D.C., including a never-before-seen UFC cage fight on the White House lawn next month — putting Washington on its highest-ever July 4 security footing.

A coalition of 29 major health care players is coming together to simplify the prior authorization process for medical treatments, Mehmet Oz, the administrator of the Centers for Medicare and Medicaid Services, announced at Axios' Future of Health Summit Wednesday.

The big picture: Last summer, several top health insurers voluntary pledged to streamline and improve the prior authorization process across all health insurance markets.

Congress is urging the White House to respond to a growing AI cybersecurity threat: advanced models that can uncover software vulnerabilities faster than companies and governments can patch them.

Why it matters: A bipartisan letter, shared first with Axios, marks an escalation in pressure on the Trump administration to confront the risks posed by frontier AI cyber models like Anthropic's Mythos.

Sen. Peter Welch (D-Vt.) said Wednesday he'd back President Trump's push to pursue a "most-favored nation" drug policy at Axios Future of Health summit.

Why it matters: Bipartisan support will be necessary for Congress to codify Trump's plan into law at a time when a majority of Americans are at least somewhat worried about being able to afford prescription drugs.

U.S. manufacturers are pleading with the Trump administration not to allow the Chinese auto industry "to wheedle its way in" to the American market.

Why it matters: President Trump is visiting China at a time when sky-high gas prices and inflation concerns have reignited calls for allowing cheap Chinese vehicles into the U.S.

Rep. Kevin Kiley (I-Calif.) introduced a discharge petition Tuesday to force a House vote on his bill banning midcycle redistricting, Axios has learned.

Why it matters: Discharge petitions are one of the few tools rank-and-file lawmakers can use to bypass House leadership and force legislation onto the floor. Six petitions have reached the required threshold in this Congress.

House Speaker Mike Johnson (R-La.) and Minority Leader Hakeem Jeffries (D-N.Y.) are forming a bipartisan "partnership" between the Republican and Democratic women's caucuses to combat sexual misconduct in Congress.

Why it matters: Congress is going through its biggest reckoning over workplace culture and sexual misconduct since the #MeToo movement rocked Capitol Hill in 2017 and 2018.

The CEO of the main pharmaceutical company trade group on Wednesday called for the next Food and Drug Administration commissioner to "calm the waters" and ensure stability as drug companies develop new treatments.

Why it matters: The FDA has faced a tumultuous several months leading up to commissioner Marty Makary's resignation Tuesday, with staff layoffs and top leaders heading out the door.

Kevin Warsh has been confirmed as the 17th leader of the Federal Reserve, becoming America's economist-in-chief at a moment of resurgent inflation, public discontent with the economy and unprecedented attacks on the Fed's independence.

Driving the news: Warsh was confirmed to a four-year term as Fed chair Wednesday by a 54-45 Senate vote. He received unanimous support from Republicans but only one "aye" vote from a Democrat, John Fetterman of Pennsylvania.

• Warsh takes the helm of the central bank after Jerome Powell's term ends Friday.

House Democrats on Wednesday secured the necessary signatures to bypass Speaker Mike Johnson (R-La.) and force a vote on a package of Russia sanctions and billions of dollars in Ukraine aid.

Why it matters: This is the eighth time in the last three years that a discharge petition has been used by some combination of Democrats and Republicans to do an end-run around GOP leadership.