The story:
Republicans in Congress are preparing to not just extend former president Donald Trump’s 2017 tax cuts if they win control of Washington in November’s elections, but also lower rates even more for corporations, laying the early groundwork for a ferocious debate over taxes and spending next year and beyond.

The take:
I scooped way back in June that Trump and Republicans were looking to cut the corporate tax rate to 15%, from the current 21% — and now here we are.

Cuts to the corporate rate seem a certainty in 2025 as the GOP won unified control of Congress and the White House in November’s elections.

The story:
SCRANTON, Pa. — Before the artillery shells reach Ukrainian troops on the front lines of their war with Russia, they’re an economic boon in northeastern Pennsylvania.

Since Russia began its full-scale invasion of Ukraine, the federal government has allocated nearly $175 billion in emergency assistance for the conflict. But much of that money remains in the United States: It powers plants like the Army’s factory in Scranton, which makes 155-millimeter artillery rounds, and others in Alabama, which make armored personnel carriers, and Texas, where mobile artillery rocket systems are built.

The take:
It was fun to get out on the road for a story like this. And it’s hard to find friendlier folks than the people of Scranton.

My WaPo colleagues reported recently that Ukrainian President Volodymyr Zelensky is newly open to peace talks with Russia, reflecting changes on the battlefield and in American politics.

That’s not just a diplomatic story — it’s an economic story. Billions of dollars flowed through local U.S. economies to equip Ukraine and European allies. And trillions more will be required to rebuild parts of Ukraine when the war is over. Not to mention, how will NATO allies think about defense spending if Russia feels its invasion of Ukraine was successful? What about China’s approach to Taiwan?

At the end of the day, everything is an economic story.

The story:
SCOTTSDALE, Ariz. — As Rep. David Schweikert searched his local Costco for frozen ravioli, a voter approached to pose a question: “How are we going to get this national debt under control?” asked Michael Mansour, an entrepreneur in his 40s.

Even in the frozen-food aisle, there isn’t much Schweikert, a seven-term Republican from a swing district in swing-state Arizona, would rather talk about. He may be the only candidate in the country making the soaring national debt — nearly $36 trillion and climbing — the centerpiece of his campaign.

The take:
The Arizona suburbs were a great place to be right before Election Day, where voters’ rightward swing was pretty apparent.

Schweikert is an interesting character, and for all the fiscal geekery, he’s a pretty potent politician.

But he’s also a Republican who I’m keeping a close eye on in 2025, especially around taxes and spending. The GOP won’t commit to the kind of spending cuts Schweikert has been pushing for, and also won’t get behind the kind of tech and immigration reforms he says are necessary. So when Republicans try to pass a major tax bill that runs up the national debt, will Schweikert support it?

The story:
President-elect Donald Trump’s economic advisers and congressional Republicans have begun preliminary discussions about making significant changes to Medicaid, food stamps and other federal safety net programs to offset the enormous cost of extending Trump’s 2017 tax cuts next year.

Among the options under discussion by GOP lawmakers and aides are new work requirements and spending caps for the programs, according to seven people familiar with the talks, many of whom spoke on the condition of anonymity because they were not authorized to speak publicly. Those conversations have included some economic officials on Trump’s transition team, the people said.

The take:
By this stage of the year, we’ve made it past the election to discover a shocker: Not only did the country tilt sharply rightward, it elected a GOP trifecta to Washington.

Immediately, the vibes in Washington were “dog that caught the car.” I think this scoop exemplified that. Republicans are so excited to cut spending that they homed in immediately on the social safety net, one of the third rails of national politics.

The consequences for seniors and low-income folks could be immense.

The story:
Technology entrepreneurs Elon Musk and Vivek Ramaswamy held initial talks with key Republicans in Congress on Thursday about the “Department of Government Efficiency,” the group they are heading up at the direction of President-elect Donald Trump, honing plans to shrink federal employment rolls and challenge the constitutional limits of Trump’s ability to control spending.

Musk, with his young son seated nearby, offered a stern warning to Republicans who stood in the way of the “DOGE.”

“They made it clear that if you’re not going to get on board with some of this, then we have no problem telling the public who’s an obstacle,” Rep. Eric Burlison (R-Missouri) told The Washington Post after a private meeting for lawmakers.

The take:
Ah yes, the DOGE.

Elon and Vivek’s visit to the Capitol created chaos, and a lot of fan-girl and fan-boy-ing from members of Congress.

As a reminder, E and V don’t have any actual power. They’re unelected, and all their recommendations still have to go through the president and Congress, or both — and likely the courts afterward.

But the fear of drawing Elon’s ire (and the threats from his followers that come with it) is real. And that has significant consequences for American democracy.