Democrats Eye Senate Campaign Chair: What to Know in Washington

Senate Democrats are already competing to lead their campaign arm after what could be a bruising election. But first, you should know:

• Donald Trump’s promised tariffs likely won’t produce the revenue needed to fund his promises from tax cuts to child care.
• JD Vance pitched dismantling part of the Affordable Care Act that Democrats say would increase costs for chronically ill people.
• Swing voters are more interested in Kamala Harris’ policies than her arguments about character.

Padilla, Gillibrand Vie to Lead Senate Campaign Arm

Senate Democrats Kirsten Gillibrand (N.Y.) and Alex Padilla (Calif.) are interested in chairing the Democratic Senatorial Campaign Committee — potentially forcing a tough decision on Majority Leader Chuck Schumer (N.Y.).

Schumer would have to choose between a home-state colleague and one of the chamber’s few Latinos to lead Senate Democrat’s fundraising and messaging efforts ahead of 2026. The party will likely either defend a razor-thin majority or fight to wrest control of the chamber from Republicans.

Republicans appear to have a slight edge this fall in winning control of the chamber from Democrats, who hold a 51-49 seat majority. That only heightens the role of the next DSCC chief. Sen. Gary Peters (Mich.), who led the DSCC for the past two cycles, told reporters he won’t lead the campaign operation a third time.

Padilla is vice-chair of the DSCC, which senators said gives him a track record of supporting colleagues in tight races. “Sen. Padilla expressed interest before for the position, not necessarily to actively pursue it,” Sen. Ben Ray Luján (N.M.) said. The LA native served in various political offices for decades in California, whose many Democratic donors helped senior House members like Nancy Pelosi (D-Calif.) build their own political fortunes.

Gillibrand on Thursday confirmed she’s interested in the role. She flipped a competitive House seat in 2006 and amassed one of the largest war chests in the body since while seeking another term in November. She also took on a key role organizing the coordinated campaign in New York to flip House seats that could determine control of the chamber.

“It’d be a really exciting opportunity to do some of the stuff I’m already doing” in New York, Gillibrand said. Read More

• Read BGOV’s Congress Tracker for the complete breakdown of lawmaker’s daily legislative agenda and the politics driving it.

Editor’s Picks

Fed Risks Political Backlash by Spurring Economy on Election Eve

The Federal Reserve would prefer to keep its distance from politics. But it just took a bold step to boost the economy weeks ahead of a high-stakes election—so good luck with that.

Vance Pitch Puts Obamacare Repeal Efforts Back in the Spotlight

Democrats are seizing on JD Vance’s pitch to do away with a bedrock part of the Affordable Care Act, saying it would cause costs for chronically ill people to spike.

Voters Challenged to Narrow Their Own Power to Change State Law

There’s a history of legislatures trying to limit the voter initiative process. But the political stakes are particularly high in GOP-controlled states this year because voters in Ohio and Kansas used ballot measures to fortify abortion rights after the US Supreme Court overturned Roe v. Wade.

Trump’s Tariff Plan Won’t Fill His Budget Hole

Donald Trump promised to use sweeping new tariffs to fund everything from tax cuts to child care. But economists say those import charges are unlikely to produce anything close to the revenue needed.

The Peterson Institute for International Economics calculates a 10% tariff on all imports, plus 60% on China — ideas Trump floated if he wins in November — could raise $225 billion a year, without factoring in blowback from fresh trade tensions.

Analysis by Bloomberg Economics based on an across-the-board tariff of 20%, a figure also mentioned by Trump, arrives at potential annual revenue of between $300 and $400 billion.

The tax and spending promises Trump rolled out so far would add somewhere between $5.2 trillion and $6.9 trillion to federal deficits over the next decade, according to analysis by the Penn Wharton Budget Model.

Reconciling the gap won’t be easy in an era of already surging government debt. And some tariffs — like the ones Trump slapped on China — are designed to reduce or redirect trade flows. To the extent they succeed, it means fewer imports to be taxed, and less revenue. Read More

What Harris Would Mean from Wall Street to Main Street

Vice President Kamala Harris largely framed her debate against Trump as a contest of character. But for swing voters, her policy agenda — especially on economics — may resonate more.

A Sept. 8 New York Times/Siena College poll showed almost 30% of likely voters wanted to know more about her — and that 66% of those people wanted to learn about her policies, eight times the share who wanted to know about her character.

Harris describes herself as an underdog, but she’s campaigning like a front-runner. She’s given only a handful of interviews since becoming the nominee, betting that being pinned down on policy may not be to her advantage. For more insight, Bloomberg Businessweek spoke with people who’ve worked with or opposed her over the years, and dug into several interviews dating to 2005.

On the economy, Harris veered to the middle and signaled she’s pro-growth. She pitches her deliberateness and predictability as superior to Trump’s fixation on tariffs and brazen transactionalism, which could remake the rules for American business.

• She floated an expanded tax break for new small businesses and a softer stance on cryptocurrency.
• She targeted banks and for-profit colleges for predatory lending practices as California’s attorney general.
• She’s pledged to raise taxes on corporations and high earners and to increase the capital-gains tax, albeit to a lower rate than Biden’s target.
• Her record suggests stronger regulation of companies and stoke an antitrust agenda that’s riled even some prominent Democratic donors.

So which version of Harris would Americans get? The liberal or the moderate? The idealist or the pragmatist? The innovator or the incrementalist? Current and former aides contend that, while Harris wants to hold bad actors accountable, she’s all of the above — guided by values but pragmatic and open to compromise. Read More

• Also Read: Oprah Enlists Hollywood A-Listers for Town Hall to Boost Harris

Trump Vows to Bring Back Travel Ban, Biden Blasts His Rhetoric

Trump vowed to reinstate his travel ban that barred people from some predominantly Muslim countries and expand it to prevent refugees from war-torn Gaza from entering the US.

• “I will ban refugee resettlement from terror infested areas like the Gaza Strip, and we will seal our border and bring back the travel ban,” Trump said Thursday evening in Washington at an event alongside Republican donor and billionaire Miriam Adelson.

He also said during the event — which was focused on combating antisemitism — that Jewish voters could be to blame if he ultimately lost the presidential election and complained that he had not “been treated right” after his support of Israel.

• “In my opinion the Jewish people would have a lot to do with a loss,” Trump said. “It’s only because of the Democrat hold, or curse, on you.” Read More

Across town, President Joe Biden accused Trump of fueling anti-immigrant sentiments as he made an appeal to Latino voters at the Congressional Hispanic Caucus Institute gala. Biden pointed to Trump’s plan for mass deportations and called on him to condemn violence and commit to accepting the 2024 election results. Read More

More Happening on the Hill

House Republicans Pass Anti-ESG Bills, Teeing Up 2025 Priorities

The House passed a package of Republican-led bills meant to rein in environmental, social, and governance initiatives across corporate America.

Pregnant Lawmaker Urges House to Let New Moms Vote From Home

Unless the next House changes its rules for the 119th Congress, lawmakers won’t be able to vote if they’re not physically in the Capitol.

Senate Advances Biden’s Third US Tax Court Nominee Rose Jenkins

The Senate advanced the nomination of Rose Jenkins to a seat on the US Tax Court bench on Thursday, after lawmakers passed a procedural motion to move forward.

New US Submarines Running $17 Billion Over Budget, Lawmaker Says

The Navy’s new Virginia-class submarines are projected to run $17 billion over their planned budget through 2030, a problem emblematic of a crisis in the program, the House’s top lawmaker on defense spending disclosed.

What Else We’re Reading

Election Threats Loom as DHS Plays Reduced Role, Watchdog Says

Foreign nations could sway election outcomes and mislead voters as the Department of Homeland Security takes a scaled-back approach to combating disinformation, a government watchdog says.

Trump Decries Fed Rate Cut as ‘Political Move’ That Won’t Work

Republican presidential candidate Donald Trump said the Federal Reserve’s decision to lower its benchmark interest rate by a half percentage point was a “political move” and that a smaller cut would have been preferable.

Republican EEOC Member’s Exit Boosts Democratic Agenda for Now

An EEOC vacancy left by Republican Commissioner Keith Sonderling gives Democrats a 3-1 majority and a chance to double down on priorities like corporate pay data disclosures and affirming LGBTQ+ worker protections ahead of the US presidential election.

Biden Awards $3 Billion to Boost Domestic Battery Production

American Battery Technology Co. and lithium-producer Albemarle Corp., are among 25 companies getting more than $3 billion in funding from the Biden administration to boost domestic production of advanced batteries and components.

Porn, Racist Posts Are Latest Twist in North Carolina Race

Mark Robinson, the Republican candidate for governor in North Carolina, vowed to stay in the race shortly before CNN published a report detailing offensive comments allegedly made by Robinson in online porn forums.

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To contact the reporters on this story: Giuseppe Macri in Washington at gmacri@bgov.com; Jeannie Baumann in Washington at jbaumann@bloombergindustry.com

To contact the editor responsible for this story: Kayla Sharpe at ksharpe@bloombergindustry.com