Tax news: The Senate Finance Committee called off a markup on the Crapo-Wyden tax admin package planned for next week, per multiple sources familiar w/ the situation It’s no longer expected in June Finance top Dem Wyden & committee Dems demanded a vote on an amendment blocking Trump’s IRS audit immunity deal, per sources. Finance R’s decided to cancel, only wanting a markup if it was going to be fully bipartisan

Three things had to line up for the stewards to overturn this. 1. The rule never says the timing system is the final word. The speeding rule (Article B1.6.3a) just says there's a speed limit, 60 km/h at Monaco. It doesn't say "speed as measured by the official timing system". Compare the false start rule (B5.11.1), which spells out exactly which system decides whether you jumped the start. Because the speeding rule names no source, the only question the stewards had to answer was: was the car actually going faster than 60? Not: did the screen say so. 2. The timekeeper proved its own number wrong. Pit lane speed is calculated as distance divided by time, and the official distance for that zone was 77 cm too long, because the barriers moved this year and opened a shorter line. The timekeeper found this itself with a laser scan after the race. Redo the maths with the correct distance and Gasly was doing 58.7 and 58.8 km/h. Under the limit, both times. The stewards actually rejected all of Alpine's own evidence; what convinced them was the official system contradicting itself. 3. The penalty could still be undone. Gasly never served his penalties during the race they were added to his finishing time afterwards, and that's the only kind the stewards have the power to erase. A penalty served at a pit stop is gone forever; nobody can give you back time you spent stationary. Alpine then filed for a review within the 96-hour deadline (Article 14 of the Sporting Code), with the new evidence the rules require. They were the only team that did. That's why Gasly got his podium back and the other four drivers caught by the same faulty zone got nothing: all three conditions held for him, and only him.

.@SenSchumer on Clayton: “Doesn't matter what else they do, Pulte’s got to be gone. He's still in that role.”

Speaker Mike Johnson says “what would be the point” of bringing back the House during recess to vote on FISA again.

This week, I interviewed Kalshi CEO @mansourtarek_ to talk Washington and prediction markets. It was a lively conversation!

🚨🚨🚨an internal memo obtained by @EricM_Katz shows the IRS has received special permission to expedite hiring 8,000 employees after getting rid of 28,000 last year

Speaker Mike Johnson says Bill Pulte is serving in a “very short-term, sort of a renovation role” to help reform and downsize ODNI rather than serving in an intelligence capacity, and that the President is still deciding on someone permanent for DNI.

ICYMI - news from @ccleffert: @RepBrendanBoyle is working on a bill to crack down on pro sports teams moving across state lines He’s reached out to W&M Chair @RepJasonSmith about it ahead of Smith’s sports tax hearing coming up 👀 MORE from PM Vault - punchbowl.news/article/vault…

NEWS in PBN texts: Senate GOP floated a weaker set of crypto ethics guardrails during a bipartisan meeting today Senate GOP-WH earlier offered Democrats an ethics mechanism that would allow the states attorneys general to sue the DOJ for ethics lapses. That was walked back today

Bad sign for W&M Republicans on crypto tax:

Ways and Means Ranking Member Richie Neal (D-Mass.) says that he doesn’t see the committee nailing down a bipartisan crypto tax bill before elections, ahead of the hearing today. “There’s talk of bipartisanship on a lot of things. There's not a lot of action on bipartisanship.”

👀 Not on this list: GOP Rep. Max Miller, who proposed his own crypto tax package w/ Dem Reps. Horsford & DelBene and GOP Rep. Carey

Crypto tax update: Ways and Means has posted six bills and a discussion draft ahead of tomorrow’s hearing. Each bill is led by a different Republican. Discussion draft covers concerns about tax evasion w/crypto tax in Puerto Rico, an issue Dems have shown interest in.

News from @PunchbowlNews Vault: Rep. HORSFORD is refusing to support any of W&M R's crypto tax bills until GOP tax writers agree to changes, per internal email we obtained Horsford aide told W&M Dem offices in the email he has "severe concerns" w/ how R bills treat validation rewards & charitable giving Horsford is also working w/ W&M R's to address his problems w/ the proposals ahead of tomorrow's hearing. Horsford's concerns underscore that even the most crypto friendly W&M Dems will want a lot of say if they're going to do a bipartisan package. Underscores W&M not there right now Vault text subscribers got the news first AND a one-pager on concerns Horsford aide attached to the email

I’m so excited to announce that today is my first day as a reporter at Punchbowl News! I’m joining the team to cover House Republicans. Let’s grab a coffee! DM me here or reach me on Signal emm.33

ICYMI from yesterday @LauraEWeiss16 got the scoop on seven crypto tax bills Ways and Means Republicans dropped ahead of the hearing next week!! Biiig news for tax crypto

Before they write clauses, they eat clawses.