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Caitlin Reilly

@caitlinreilly.bsky.social
1.1K followers 51 following 46 posts

I cover Congress with focus on tax and fiscal policy for Bloomberg News. Opinions are my own. Reposts are not endorsements. Reach out at creilly106@bloomberg.net

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Caitlin Reilly @caitlinreilly.bsky.social · 31/07/2026
New from me: Trump's media company's plan to offer faster access to Truth Social posts to Wall Street firms in exchange for a fee is drawing scrutiny from lawmakers. Rep. Raskin, top Dem on House Judiciary, is pressing the company for answers. Gift Link: www.bloomberg.com/news/article...
bloomberg.com
House Democrats Seek Answers on Faster Access to Trump’s Posts
House Democrats are opening an inquiry into a plan by President Donald Trump’s media company to offer faster access to posts on its social media platform to Wall Street firms in exchange for a fee.
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Caitlin Reilly @caitlinreilly.bsky.social · 09/06/2026
New tax cuts are a focal point of Republicans’ pitch to voters heading into the midterms, nowhere more so than in Nevada, where Trump first pitched no-tax-on-tips in 2024. But there are signs economic headwinds are blunting the impact of the tax relief. www.bloomberg.com/news/feature...
bloomberg.com
Trump’s No Tax on Tips Gamble Risks Falling Short With Disgruntled Vegas Voters
Higher prices and tourism declines are blunting the financial impact of the president’s tax relief.
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Caitlin Reilly @caitlinreilly.bsky.social · 15/04/2026
Happy Tax Day! Average refunds are up compared to last year, thanks to last year's GOP tax law. But there are signs that some taxpayers have missed the memo. Interesting polling from Bipartisan Policy Center that could have midterm implications. Free link: www.bloomberg.com/news/article...
bloomberg.com
Tax Refunds Are Up, But Many Americans Aren’t Feeling It
Americans rushing to meet Wednesday’s tax filing deadline are getting bigger refunds on average thanks to President Donald Trump’s tax law, though the savings are falling short of his promises and man...
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Caitlin Reilly @caitlinreilly.bsky.social · 10/04/2026
The IRS has an early present for Santa: tax deductible tips. The agency's final rule on jobs that qualify for Trump's tips tax break has some fun nuggets, including clarity for Santa and celebrity impersonators, horse groomers and the clergy. Free link: bit.ly/4cBOdU4
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Caitlin Reilly @caitlinreilly.bsky.social · 31/03/2026
Corporate tax revenues tumbled following the GOP tax law. I dug through filings and earnings calls of the 50 biggest US-listed companies to figure out where those tax savings went. Nearly a dozen credited the law for a drop in their 2025 taxes with some paying billions less than the year before.
bloomberg.com
Trump’s Tax Cut Delivers at Least $65 Billion Windfall to Corporations
Some of the country’s wealthiest corporations are calculating they owe far less to the Internal Revenue Service as a result of President Donald Trump’s overhauled tax code, underscoring how a law bill...
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Caitlin Reilly @caitlinreilly.bsky.social · 28/01/2026
With the threat of the government shutdown rising, a lapse in funding would undercut the IRS during an already challenging filing season, thanks to leadership turnover, staff cuts and new tax breaks. Here's what that would mean for taxpayers (gift link): www.bloomberg.com/news/article...
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Caitlin Reilly @caitlinreilly.bsky.social · 11/12/2025
NEW: The Treasury Department is preparing to release a corporate tax workaround that would deliver big tax savings to companies including Salesforce and Qualcomm. The change would let companies deduct old R&D investments without triggering the 15% corporate minimum tax. Gift link:
bloomberg.com
Trump Administration Plans to Boost Tax Break for Corporations
The Treasury Department is preparing to release a corporate tax workaround that would deliver large tax savings to companies including Salesforce Inc. and Qualcomm Inc.
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Caitlin Reilly @caitlinreilly.bsky.social · 11/11/2025
Small business owners and workers, who make up nearly half Obamacare enrollment, will be hit hard when enhanced subsidies expire in Jan. I spoke to a few owners who are facing tough decisions about what do when their health care costs skyrocket next year. Free link: www.bloomberg.com/news/article...
bloomberg.com
US Health Care Premium Spikes to Squeeze Main Street Businesses
Gladys Harrison, owner of Big Mama’s Kitchen and Catering, was already struggling to cover rising food prices for ingredients at the Omaha restaurant that’s been in her family for two generations. The...
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◥◤Kriston Capps 250 @kristoncapps.bsky.social · 16/10/2025
Last week the White House acted on its threats to eliminate the CDFI Fund, laying off its entire staff. But CDFIs have strong bipartisan backing, and at least one GOP senator is fighting back. Read @emilyflitter.bsky.social and @caitlinreilly.bsky.social: www.bloomberg.com/news/article...
bloomberg.com
Republican to Pressure Trump to Reverse Some Treasury Job Cuts
A top Senate Republican will push President Donald Trump to reverse firings at the Treasury Department that targeted the staff overseeing a fund for financial services in economically disadvantaged co...
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Caitlin Reilly @caitlinreilly.bsky.social · 03/10/2025
I dug into @kff.org data on the expiring health care subsidies at the center of the shutdown fight and found their expiration would most affect residents in GOP states and districts, which could have implications for next year's midterm elections. Free story here: www.bloomberg.com/news/article...
bloomberg.com
GOP Districts ‘Supercharged’ Obamacare Use Is Risk in Shutdown Fight
The health insurance subsidies at the center of the US government shutdown fight disproportionately benefit areas of the country represented by Republican lawmakers, posing a potential vulnerability f...
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Carter Johnson @carter-johnson.bsky.social · 01/10/2025
Tune into this conversation with my Bloomberg News colleagues Nathan Hager, @caitlinreilly.bsky.social and @steventdennis.bsky.social and me as we dive into the impacts of the government shutdown. Link below 👇
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Gregory Korte @gregorykorte.com · 18/09/2025
A deeper look at how the Trump administration is targeting liberal groups, with @caitlinreilly.bsky.social and @simonefoxman.bsky.social: www.bloomberg.com/news/article...
bloomberg.com
Trump Readies Tax, Criminal Crackdowns on Liberal Groups After Kirk Killing
The Trump administration is making plans for how to go after left-wing groups it says are fomenting political violence following the killing of Charlie Kirk, while nonprofits prepare to defend themsel...
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Caitlin Reilly @caitlinreilly.bsky.social · 11/09/2025
News: Hours after we published, Treasury shared a statement saying upcoming formal guidance would exclude tips connected to "illegal activity, prostitution or pornography" from the tax break. The department did not respond to an earlier request for comment. I guess tax is not sexy after all.
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Caitlin Reilly @caitlinreilly.bsky.social · 10/09/2025
This is definitely the first time I’ve interviewed a dominatrix for a story. But OnlyFans creators and others in the digital content creation space could be big winners in the rollout of Trump’s no-tax-on-tips. Who says tax isn’t sexy? Free link: www.bloomberg.com/news/article...
bloomberg.com
Podcasters and OnlyFans Creators Stand to Win Big Under Trump’s Tax Law
Katherine Green, a dominatrix who creates online adult videos, wasn’t expecting a windfall from President Donald Trump’s signature push to make tips tax-free.
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Opinion Today @opiniontoday.bsky.social · 06/06/2025
Medicare cuts in play as Senate GOP hones budget bill. (@jessiehellmann.bsky.social @sandhyawrites.bsky.social @caitlinreilly.bsky.social Roll Call) rollcall.com/2025/06/05/m...
rollcall.com
Medicare cuts in play as Senate GOP hones budget bill - Roll Call
As Senate Republicans go deep into reconciliation bill-drafting mode, Medicare is increasingly coming up as a potential pay-for.
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Caitlin Reilly @caitlinreilly.bsky.social · 06/02/2025
Full story on CQ: plus.cq.com/doc/news-81694…
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Caitlin Reilly @caitlinreilly.bsky.social · 06/02/2025
Scoop: As House GOP huddled with Trump on reconciliation today, Senate Budget Rs quietly met to hammer out their budget blueprint, aiming for a Wednesday markup. The tentative plan includes $175B for border, $150B for defense and $17B for the Coast Guard over 4 years, fully offset.
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Caitlin Reilly @caitlinreilly.bsky.social · 21/01/2025
Senate Majority Leader Thune was noncommittal when asked about reports that House and Senate leadership agreed to a one-bill reconciliation strategy. “Well, I think that discussion is always predicated on what we can get done,” he said.
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Caitlin Reilly @caitlinreilly.bsky.social · 21/01/2025
Finance ranking member @wyden.senate.gov, D-Ore., seemed to indicate following the markup Democrats are in no rush to strike a deal with Republicans that would speed up Bessent's confirmation on the floor. “Every day seems to yield some additional questions,” Wyden said.
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Caitlin Reilly @caitlinreilly.bsky.social · 21/01/2025
The Senate Finance Committee voted 16-11 to approve Scott Bessent’s nomination to be Treasury secretary, clearing the way for floor consideration. Democratic Sens. Mark Warner of Virginia and Maggie Hassan of New Hampshire voted to advance the nomination.
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Caitlin Reilly @caitlinreilly.bsky.social · 20/01/2025
Governors Tate Reeves, R-Miss., Glenn Youngkin, R-Va., Brian Kemp, R-Ga., Ned Lamont, D-Conn., Ron DeSantis, R-Fla., and Mike Braun, R-Ind., are down here too, as is former GOP Arizona senate and gubernatorial candidate Kari Lake. House and Senate spouses are also seated in the overflow space.
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Caitlin Reilly @caitlinreilly.bsky.social · 20/01/2025
Here’s who we’ve spotted in the inauguration overflow viewing space in the Capitol Visitor Center so far: Scale AI CEO Alexandr Wang Open AI CEO Sam Altman MMA fighter Conor McGregor Influencers Logan & Jake Paul Podcaster Theo Von NY Mayor Eric Adams Former race car driver Danica Patrick
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Caitlin Reilly @caitlinreilly.bsky.social · 17/01/2025
House Republicans are examining hundreds of policy options across 11 committees for possible inclusion in their one-bill reconciliation package, according to a document compiled by the House Budget Committee. Full story here: plus.cq.com/doc/news-815...
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CQ NEWS Detailed reconciliation options flesh out budget cuts, tax menu
House Republicans are examining hundreds of budget options across 11 committees for possible inclusion in their one-bill reconciliation package, according to a document compiled by the House Budget Co...
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Caitlin Reilly @caitlinreilly.bsky.social · 16/01/2025
So it’s less clear whether it survives past this year. Bessent only committed to this filing season, which starts in a few weeks, and said he would review the program after that. It’s an uphill battle beyond that because Republicans (and tax prep software providers) are pretty dug in against it.
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Caitlin Reilly @caitlinreilly.bsky.social · 16/01/2025
Sen. Cassidy, R-La., asked Bessent whether he would support imposing trade duties on carbon-intensive imports, a concept that in theory could find some support among Dems. Bessent called it an “interesting idea” that could fit within a broader tariff program.
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Caitlin Reilly @caitlinreilly.bsky.social · 16/01/2025
A little news from this hearing: Bessent commits that the IRS Direct File program allowing taxpayers to file directly online with the IRS, a target of GOP attacks, will be available and operable this tax season.
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Caitlin Reilly @caitlinreilly.bsky.social · 16/01/2025
Ranking Dem @wyden.senate.gov painted Bessent’s handling of his taxes as emblematic of a system with one set of rules for the rich and another for the working class. “This is exactly the kind of abusive scheme that leaves Americans feeling disgusted with the tax code,” he said.
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Caitlin Reilly @caitlinreilly.bsky.social · 16/01/2025
Scott Bessent, Trump’s Treasury nom, is appearing before Senate Finance this morning. Chair Mike Crapo, R-Idaho, opened the hearing, saying Bessent had cooperated with the committee on its “exacting” vetting process. “It’s clear you followed all applicable law,” Crapo said.
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Caitlin Reilly @caitlinreilly.bsky.social · 16/01/2025
Now in front of the paywall: rollcall.com/2025/01/15/d...
rollcall.com
Democrats: Bessent avoided Medicare tax on hedge fund earnings - Roll Call
Senate Democrats are gearing up for a fight against Scott Bessent, President-elect Donald Trump’s pick for Treasury secretary.
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Caitlin Reilly @caitlinreilly.bsky.social · 16/01/2025
NEW: Senate Democrats are gearing up for a fight against Scott Bessent, President-elect Donald Trump’s nominee for Treasury secretary, with questions about his fitness to hold the office based on a review of his tax returns. He's due before the Finance Committee tomorrow. plus.cq.com/doc/news-815...
plus.cq.com
CQ NEWS Democrats: Bessent avoided Medicare tax on hedge fund earnings
Senate Democrats are gearing up for a fight against Scott Bessent, President-elect Donald Trump’s nominee for Treasury secretary, with questions about his fitness to hold the office based on a review ...
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Caitlin Reilly @caitlinreilly.bsky.social · 04/01/2025
Anecdote courtesy of Roll Call reporters—@jimsaksa.com and me! rollcall.com/2023/10/04/p...
rollcall.com
How Patrick McHenry went from partisan ‘attack dog’ to holding the House’s fate
Once “a pain in the neck” to Democrats, McHenry earned their respect. Now the North Carolina Republican is acting as speaker pro tempore.
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Caitlin Reilly @caitlinreilly.bsky.social · 21/12/2024
It's likely to get overshadowed with all the shutdown/CR news, but the Senate just voted 76-20 to expand Social Security benefits for about 3 million retirees who worked for state or local governments. The House passed the bill last month, and it now heads to the president's desk.
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Caitlin Reilly @caitlinreilly.bsky.social · 05/12/2024
New: House Budget Chair Jodey Arrington said he'd be open to raising or suspending the debt ceiling, which will be reinstated early next year, through reconciliation, if it's paired with spending cuts and fiscal reforms. That could allow the GOP to handle the debt ceiling on a party-line vote.
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Caitlin Reilly @caitlinreilly.bsky.social · 21/11/2024
A popular House-passed bill that would provide tax relief to victims of natural disasters remains stuck in the Senate, as Democratic leadership weighs various pathways forward, sources said. plus.cq.com/doc/news-811...
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CQ NEWS Disaster tax relief held up in Senate as Democrats weigh vehicles
Bipartisan legislation that would deliver about $5 billion in tax relief to victims of natural disasters remains stuck in the Senate, as Democratic leadership weighs their options between the stand-al...
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Caitlin Reilly @caitlinreilly.bsky.social · 21/11/2024
Update: They went with Rep. Schneider rollcall.com/2024/11/20/n...
rollcall.com
New Dems elect Schneider chair for the 119th Congress - Roll Call
The center-left New Democrat Coalition elected Illinois Rep. Brad Schneider to be its chair in the next Congress.
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Caitlin Reilly @caitlinreilly.bsky.social · 19/11/2024
The center-left New Dems caucus is set to pick a new chair this week. I chatted with candidates Reps. Schneider and Davids about lessons-learned from the election and plans for next year. rollcall.com/2024/11/19/n...
rollcall.com
New Dems bullish heading into second Trump administration - Roll Call
In an election that saw voters in nearly every demographic shift right, the center-left New Democrat Coalition sees reason for optimism.
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Caitlin Reilly @caitlinreilly.bsky.social · 14/12/2023
The House this week:
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Caitlin Reilly @caitlinreilly.bsky.social · 31/10/2023
Happy Halloween from the World’s Fastest Bank Run! 🎃🏃‍♀️ 🏃‍♀️💸 xoxo, Silicon Valley Bank & Signature Bank of New York
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Caitlin Reilly @caitlinreilly.bsky.social · 27/10/2023
Consult the augurs.
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Caitlin Reilly @caitlinreilly.bsky.social · 24/10/2023
Majority Leader Schumer says Senate has reached a deal that will allow the chamber to start voting on the spending "minibus." It includes about 40 amendments. Amendment votes could start tomorrow morning, he said. w/ @valerieyurk.bsky.social 🔓: plus.cq.com/doc/news-786...
plus.cq.com
CQ NEWS Senate reaches deal to start voting on appropriations package
Majority Leader Charles E. Schumer said Tuesday that Senate leaders had reached an agreement paving the way for floor consideration of its three-bill spending “minibus,” a breakthrough after wee...
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Jim Saksa @jimsaksa.com · 19/10/2023
Once again, this profile we wrote is extremely relevant to breaking news events, so give it a read rollcall.com/2023/10/04/p...
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Caitlin Reilly @caitlinreilly.bsky.social · 20/10/2023
Another day, another hangup for the Senate's stalled spending minibus. This time over an amendment from Sen. Cramer, R-N.D., that would stop DOT from requiring state and local transportation authorities to set emissions targets. w/ @valerieyurk.bsky.social 🔒: plus.cq.com/doc/news-78593…
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Niels Lesniewski @nielslesniewski.bsky.social · 19/10/2023
Welcome to make it up as we go along season. A refresher from last week. rollcall.com/2023/10/12/h...
rollcall.com
House members discuss lifting limits on speaker pro tem power - Roll Call
The delay in choosing a new speaker has House members talking about whether to strengthen the powers of Speaker Pro Tem Patrick T. McHenry.
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Jim Saksa @jimsaksa.com · 12/10/2023
With all this talk about Patrick McHenry as a caretaker speaker, time again for you to read this profile @caitlinreilly.bsky.social and I wrote! rollcall.com/2023/10/04/p...
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Caitlin Reilly @caitlinreilly.bsky.social · 05/10/2023
teamed up with @saksappeal.bsky.social for a look at Congressman McHenry’s path to speaker pro tempore, including his reputation among Financial Services Dems. rollcall.com/2023/10/04/p...
rollcall.com
How Patrick McHenry went from partisan ‘attack dog’ to holding the House’s fate
Once “a pain in the neck” to Democrats, McHenry earned their respect. Now the North Carolina Republican is acting as speaker pro tempore.
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Jim Saksa @jimsaksa.com · 04/10/2023
I wrote about how this Ozymandias ass speakership went down 9 months after it began rollcall.com/2023/10/03/h...
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Jim Saksa @jimsaksa.com · 05/10/2023
I wrote a quick profile of Patrick McHenry with Caitlin, focusing on his evolution from GOP attack dog to respected lawmaker liked by Dems to now the guy who kinda holds the fate of the House in his hands rollcall.com/2023/10/04/p...
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