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![]() PRESENTED BY![]() BY JOHN BRESNAHAN, ANNA PALMER AND JAKE SHERMAN THE TOPNews: The DCCC raised nearly $10 million in May, which they say is their largest off-year May haul in the committee’s history. Now, here’s where some positioning comes into play. The NRCC said it raised $14 million in May — but that included a $5 million cash infusion from the RNC. The DCCC said it did not have any transfer to boost its bottom line. So, in essence, the NRCC raised $9 million and the DCCC raised nearly $10 million. We’ll see the exact numbers when they file with the FEC — and we’ll report back to you. The DCCC has $36 million on hand, which is $19 million more than they had in May 2019. They have no debt. Remember: Democrats have a very slim majority in this Congress — as of now, it’s four seats. Republicans are favored to win the House majority, but there’s a lot of time between now and Election Day. In fact, there are 508 days until the midterm elections. A reminder: This is the only edition of Punchbowl News today because of the newly established national holiday of Juneteenth. The Capitol is all but shut down. See you Monday morning. ![]() The Punch Power Matrix usually comes out Friday afternoon for subscribers only. But since this is our only edition of the day, we figured we’d treat everyone to it. Subscribe, BTW. PRESENTED BY GOOGLE Google is expanding its support for Black founders. Across the US, Black startup founders are building great companies, yet they’re consistently locked out of access to the funding that is critical to their success. That’s why Google created a second round of the Google for Startups Black Founders Fund. Founders that received funding in round one went on to raise over $38M post-award. Learn more about the founders that have already received funding. THE END OF AN ERA R.I.P. Obamacare fights ![]() For the last 11 years, congressional Republicans have based much of their political persona around repealing the Affordable Care Act. In that time, Republicans have been unable to rally around a replacement plan, the Supreme Court has ruled thrice that the law is constitutional and public sentiment has grown more and more positive about Obamacare. So the ruling Thursday in favor of keeping Obamacare may represent the real end of GOP efforts to toss the law out. The political and policy fight no longer centers on repealing Obamacare. That was evident when the House Republican leadership issued a statement after the high court ruling saying:
Note the GOP statement made no mention of repealing Obamacare. And the news stories about Thursday’s ruling signal that new reality. Republicans can play around the edges of Obamacare, but getting rid of it entirely is no longer feasible. The Coverage: → NYT: “Obamacare Is Here to Stay. Brace for New Health Care Battles,” by Margot Sanger-Katz and Sarah Kliff → WaPo: “Supreme Court’s pro-ACA decision spurs both parties to new strategies,” by Amy Goldstein, Matt Viser and Mike DeBonis TECH ON THE HOT SEAT House Judiciary markup next week ramps up pressure on Big Tech The House Judiciary Committee’s scheduled markup next week of a half-dozen antitrust bills aimed at reining in the power of Big Tech — Amazon, Apple, Facebook and Google — dramatically raises the political stakes for both parties and the Silicon Valley giants. The four tech companies have built huge lobbying and political operations in D.C., and they’re already deploying their resources to block or water down the legislation, which is being pushed by a rare bipartisan coalition of progressives and conservatives. The companies argue that lawmakers are threatening to undermine some of the most successful and innovative enterprises in U.S. history. They employ hundreds of thousands of workers and their stocks are held by millions of small investors, all of whom could be hurt by this legislative push. Amazon, for instance, says its ability to offer Prime shipping to consumers would be impacted if this legislation is enacted, while Apple asserts that it would have to get rid of popular features on the iPhone. Other tech industry groups warn some of the companies would be forced to break themselves up into separate entities, which could have a huge impact on the whole industry. But one of the key players in this House effort, Rep. David Cicilline (D-R.I.), told us these kind of arguments are to be expected. Cicilline compared the Big Tech giants to “modern day robber barons” of the GIlded Age. “When you’re taking on the gigantic companies, one of the challenges is that monopoly power translates into political power. That’s why monopolies are inconsistent with democracy,” Cicilline, chair of the Antitrust, Commercial, and Administrative Law subcommittee on Judiciary, told us this week. Cicilline, along with Rep. Ken Buck (Colo.), his GOP counterpart on the Antitrust subcommittee, has been focusing on this issue for the last few years. “That’s why they’re going to try in any way possible to stop these reforms and protect an ecosystem that has generated the greatest profits in the history of the world,” Ciccilline said. "That should be a surprise to no one.” Cicciline argues that Big Tech’s power “harmed innovation, harmed consumers, resulted in degraded quality, and seriously anti-competitive behavior. This is the behavior of monopolies.” Two of the bills target companies that create online platforms and then compete with companies that use those platforms to offer goods and services. Another bill by Buck Reps. Hakeem Jeffries (D-N.Y.) would bar acquisitions that “expand or entrench the market power of online platforms.” Another bill would increase funding for DOJ and FTC antitrust enforcement, while lawmakers want to ensure that “state attorneys general are able to remain in the court they select rather than having their cases moved to a court the defendant prefers” in filing lawsuits against tech firms. Democratic and House GOPleaders have not committed to bring any of these bills to the floor yet. And even if these bills pass the House, these initiatives will face gigantic challenges getting through a 50-50 Senate. But it is clear this summer will see lots of discussion on Capitol Hill about monopoly power and what it means for the U.S. economy. PRESENTED BY GOOGLE The Google for Startups Black Founders Fund provides cash awards to Black-led startups, who are disproportionately locked out of access to capital. MOMENTS 9:30 a.m.: VP Kamala Harris will leave for Atlanta. 10:30 a.m.: President Joe Biden will get his intelligence briefing. 11:55 a.m.: Harris will tour a vaccination center at Ebenezer Baptist Church. 1:40 p.m.: Harris will speak at a vaccination event at Clark Atlanta University. 2:15 p.m.: Biden will speak about vaccines. 2:55 p.m.: Biden will leave the White House for Wilmington, Del., where he’ll arrive at 3:50 p.m. 4:40 p.m.: Harris will participate in a voting rights conversation. 6:15 p.m.: Harris will leave Atlanta for D.C. CLIP FILE NYT → News Analysis: “Joe Manchin and the Magic 50th Vote for Democrats’ Voting Rights Bill,” by Carl Hulse → “Why G.O.P.-Led States Are Banning the Police From Enforcing Federal Gun Laws,” by Glenn Thrush and Nicholas Bogel-Burroughs → “Kim Jong-un Says He’s Ready for ‘Dialogue and Confrontation’ With Biden,” by Choe Sang-Hun in Seoul WaPo → “St. Louis couple who pointed guns at protesters plead guilty, will give up firearms,” by Meryl Kornfield → “D.C. schools canceled for Juneteenth at last minute, leaving parents scrambling,” by Perry Stein → “Will Lina Khan bring a reckoning to Silicon Valley? She’ll face major challenges,” by Cat Zakrzewski Politico → “Biden’s economic dreams get boost from corporate spending spree,” by Victoria Guida → “‘Alito was just pissed’: Trump’s Supreme Court breaks down along surprising lines,” by Josh Gerstein STATE OF THE ART Scalise raises off of Trump writing a book ![]() PRESENTED BY GOOGLE Google announces the second round of the Google for Startups Accelerator for Black Founders. During the accelerator – a 10 week virtual program for Black-led startups from across North America – startups are paired with Google experts to identify and solve their most pressing technical challenges, from implementing machine learning to developing mobile apps to improving user experience design. Founders also participate in workshops focused on fundraising, hiring, and sales. ![]() Enjoying Punchbowl News AM? ![]() Subscribe 10 friends with your unique link (below) and get a Punchbowl News hat! 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