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Photo: Stefani Reynolds/Bloomberg via Getty Images

Sen. Tim Scott (R-S.C.) told Axios on Tuesday that he hopes the Senate will pass a bipartisan police reform bill by the end of the month — setting a new deadline in the broader fight to massively overhaul the nation's policing.

Why it matters: Scott has been leading negotiations on a bipartisan deal for months, with the effort getting new legs in the wake of Derek Chauvin's murder trial. But the pressure to turn talks into legislation that can pass both chambers of Congress continues to be an uphill battle — and time is of the essence if lawmakers want to get a deal done before August recess.

  • Scott and other negotiators — including Sen. Cory Booker (D-N.J.) and Rep. Karen Bass (D-Calif.) — have still yet to produce legislative text for the bill.

Driving the news: "I don't think we can do this, after this month, if we're not finished," Scott told Axios and other reporters regarding the current state of negotiations.

  • Asked if the Senate needs to have the bipartisan bill pass by the end of the month, Scott said: "That's what I would hope."
  • An aide to Scott later clarified that he did not mean the group will stop negotiating if a bill does not pass by the end of July — emphasizing Scott's use of the word "hope."

What to watch: Scott put pressure on Senate Majority Leader Chuck Schumer (D-N.Y.) to make this legislation a top priority: "Schumer runs the floor, and they tell me the floor time is nearly impossible right now and to make that dream a reality," he said.

State of play: Scott told reporters he thinks the negotiating group has made progress on the bill this week, and that they plan to talk later again on Tuesday.

  • "We're now swapping language on that on that text," Scott said. "Of course, there are outlier issues that you have to figure out how to solve, but there are a number of pieces of the legislation that we already agree in concept and now we're writing it out."
  • "June or Bust" — the phrase Scott previously used regarding a timeframe for the deal — "was on getting us to the place where we actually agree on the principles of the framework of the legislation. We met that deadline," Scott said.
  • "Now the question is getting all that into language. Anyone who's been around for any amount of time realizes that you don't do anything in this body in two or three weeks, especially on something that can be transformative."

Go deeper: Lawmakers reach "agreement on a framework" for policing reform

Go deeper

Senate reaches agreement to raise debt ceiling through early December

Sen. Chuck Schumer, Oct. 6. Photo: Anna Moneymaker/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) announced Thursday that Senate Democrats and Republicans have reached an agreement to extend the debt ceiling through early December.

Driving the news: The agreement is to raise the limit by $480 billion, which is what Treasury Secretary Janet Yellen says is needed to get to Dec. 3, a Senate leadership aide told Axios.

Surprising pandemic side effect: Soaring trade deficits

Source: Census Bureau and Bureau of Economic Analysis; Chart: Axios Visuals

Inflation and jobs may get all the economic headlines, but meanwhile a big shift is taking place in the underpinnings of the world economy: The U.S. trade deficit is soaring.

What's happening: Americans' spending on imported physical goods has gone through the roof, while exports are growing slowly, making the U.S. the world's consumer of last resort.

Mike Allen, author of AM
1 hour ago - Politics & Policy

Third Way: "Big Lie" could become "Big Coup"

Graphic: Third Way

Third Way, the center-left think tank, is urging fellow Democrats to respond to the Capitol riot with "the size, scope, and seriousness of a presidential campaign," co-founder Matt Bennett tells me.

Driving the news: "For the first time in U.S. history, a party must mount two parallel presidential campaigns: one to win the election, and the other to prevent its theft," Bennett said, calling this "a Paul Revere moment."