Germany's Merz announces sweeping reforms: Tax cuts, pension overhaul and new sick leave rules

• The House of Representatives passed a temporary government funding bill months ahead of the deadline to prevent a potential government shutdown. • House GOP leaders pushed for early action to avoid political fallout and voter dissatisfaction shortly before upcoming elections.

• The House GOP approved $73 billion in new Pentagon funding and $10 billion for voting restrictions on July 23, 2026. • The U.S. military conducted its 12th consecutive night of attacks, targeting a border crossing between southern Iran and Iraq.

• The White House, via spokesperson Karoline Leavitt, stated that a potential nuclear deal with Saudi Arabia is contingent upon the kingdom joining the Abraham Accords. • Separately, President Donald Trump is meeting with Republican governors and tech executives at the EPA to discuss a ratepayer protection pledge, aiming to shift electricity costs for data centers onto big tech companies.

• The US House of Representatives passed a record-breaking $1.15 trillion defense bill on Wednesday. • The legislation increases spending by approximately $250 billion over the 2026 NDAA and includes a 5-7% pay raise for service members.

• The House of Representatives has advanced a bill to the floor for consideration, utilizing a rule that links it to the contentious SAVE America Act. • The SAVE America Act seeks to implement stricter voter identification requirements across the United States.

• Hungary has launched an investigation into the subsidies provided to the Chinese electric vehicle manufacturer BYD. • The probe follows concerns over a "revolving door" scenario after a former Hungarian minister, who previously negotiated the subsidies, joined the carmaker.

• Marine Le Pen and Matteo Salvini have condemned a police raid targeting Hungary's largest opposition party, criticizing the move as a sign of growing autocracy. • The incident occurs amidst Prime Minister Viktor Orbán's sixteen-year tenure, during which he has consistently pushed a political vision centered on sovereignty, identity, and immigration.

• Former Hungarian Prime Minister Viktor Orban has pledged to resist the "tyranny" of his successor, Peter Magyar, who won the April elections. • Orban alleges that Magyar has dismantled the rule of law and eliminated checks and balances, comparing the current political climate to the Communist dictatorship of the late 1980s.

• Justice Amy Coney Barrett faced questioning during a recent Senate hearing regarding the Supreme Court's failure to address the rise of prediction markets and the resulting ethical risks. • Concerns center on whether justices could exploit nonpublic information for financial gain through these markets, creating a potential loophole in judicial oversight.

• House Republicans approved a $95 billion budget reconciliation framework on Wednesday to increase federal spending in several key areas. • The package specifically targets funding boosts for the Pentagon, agricultural aid, and grants intended to support voting restrictions.

• House Republicans have linked their entire legislative agenda, including the defense policy bill, to the SAVE Act, a voting restriction measure demanded by Donald Trump. • The strategy involves using a panel that handles federal elections legislation to fund changes to laws under its jurisdiction.

• Yemen’s Houthi rebels claim to have attacked tankers in the Red Sea, asserting that the vessels violated their established blockade. • The US military has launched its 12th consecutive night of strikes against Iranian-linked targets to degrade Tehran's ability to threaten shipping in the Strait of Hormuz.