Treasury Secretary Bessent Reports 10% Rise in 2026 Tax Refunds and Push for Worker Tax Cuts

• Brookings Institution updated its regulatory tracker on March 31, 2026, monitoring new, delayed, repealed rules, guidance, policy revocations, and executive actions in the second Trump term. • Rules tracked are current as of March 30, 2026, providing a curated view of deregulatory efforts across agencies. • The tracker highlights significant shifts in federal oversight, influencing policy implementation and compliance.

• The White House issued 'A National Policy Framework for Artificial Intelligence,' outlining legislative recommendations to advance U.S. AI priorities. • This follows the July 2025 'America’s AI Action Plan' with over 90 policy actions across innovation, infrastructure, and international security, seeking business input on slowing regulations. • The framework may limit funding to states with AI-restrictive rules, positioning the U.S. as the global AI leader.

• President Trump rescinded Biden-era executive orders, directing federal agencies to terminate all DEI and environmental justice roles, offices, and equity-focused programs. • Funds are prohibited for promoting gender ideology, mandating 'sex' as male or female in documents like passports, eliminating 'X' gender options. • OMB and OPM are coordinating hiring changes, ending chief diversity officer positions and reinstating bans on racial bias training.

• President Donald Trump signed Executive Order 'Addressing DEI Discrimination by Federal Contractors' on March 26, 2026, mandating a clause in all federal contracts prohibiting racially discriminatory DEI activities by contractors and subcontractors. • The clause subjects non-compliant parties to False Claims Act liability, contract termination, and potential debarment, with enforcement prioritized by the U.S. Attorney General including review of whistleblower qui tam actions. • This builds on prior Trump actions eliminating federal DEI programs and aligns with EEOC Chair Andrea Lucas's warning letter to the 500 largest U.S. companies about Title VII liabilities from DEI practices.

• The Office of the United States Trade Representative submitted the 2026 National Trade Estimate Report to President Trump and Congress on March 31, 2026, detailing significant foreign trade barriers impacting U.S. exports. • The annual report, due by March 31 each year, outlines Trump Administration strategies to address non-reciprocal practices and ensure a level playing field for American workers. • It highlights barriers in key markets and proposes actions to counter discriminatory policies abroad, reinforcing U.S. trade priorities amid ongoing global tensions.

• The S&P 500 rose over 1.5% and Nasdaq climbed nearly 2% Monday after the White House signaled it may abandon America's role in reopening the Strait of Hormuz, with Trump telling allies on Truth Social to "build up some delayed courage" and secure the strait themselves. • Trump wrote on social media: "You'll have to start learning how to fight for yourself, the U.S.A. won't be there to help you anymore, just like you weren't there for us," signaling a potential shift toward military disengagement despite ongoing operations. • The mixed messaging coincides with U.S. gas prices crossing $4 per gallon Tuesday—up more than $1 from February 27—marking the first time since 2022's Ukraine crisis energy shock, while Trump's approval rating has dropped to -16.7, a record low for his second term.

• President Trump's mixed signals on the Iran war complicate predictions for its resolution, creating uncertainty for Republican strategists. • The messaging discord may lead to electoral consequences for the GOP in the 2026 midterms, as voters question the party's foreign policy coherence. • With primaries underway, internal party divisions over Trump's approach could erode his influence in battleground districts.

• The U.S. Supreme Court will argue Barbara v. United States on April 1, directly challenging President Trump's executive order limiting birthright citizenship. • The Trump administration has secured victories in most immigration-related lawsuits reaching the court, including last summer's birthright citizenship dispute. • Legal experts note that these immigration wins do not guarantee success in the citizenship case, as it tests the 14th Amendment's core protections.

• President Trump's hold on the Republican Party faces its first major test in 2026 with upcoming primaries and special elections in Indiana, Georgia, Louisiana, and Kentucky. • In North Georgia's special election runoff on April 7, Trump-backed Clayton Fuller competes against Democrat Shawn Harris in a district Trump won by nearly 70% in 2024, where a narrow win could signal waning GOP enthusiasm. • Efforts to unseat Rep. Thomas Massie (R-Ky.), a vocal Trump critic, intensify with funding from Chris LaCivita's groups and the Republican Jewish Coalition targeting his Northern Kentucky district.

• President Trump yesterday escalated rhetoric by renewing threats to 'completely obliterate' Iranian power plants, oil production facilities, and possibly all infrastructure. • The statement comes amid ongoing U.S. military pressure on Iran, with diplomatic outcomes remaining unclear after three months of conflict. • This hawkish posture risks further entangling the U.S. in the region, potentially impacting domestic politics and midterm races.

• President Trump's approval rating dropped to 41% in a Fox News poll released last week, with 59% of voters disapproving, marking the lowest point of his second term. • A war abroad and stalled domestic agenda are colliding with weakening polls, raising alarms inside the GOP as midterm fears grow. • The declining ratings underscore challenges for Republicans heading into elections, potentially impacting party strategy and legislative priorities.