The House Rules Committee late on Wednesday advanced a sweeping bill to enact President Donald Trump’s agenda after a marathon 21-hour session, clearing the legislation for a House floor vote. The legislation, called the “One Big Beautiful Bill Act,” passed the committee in an 8–4 party-line vote.

Republican leaders unveiled an amendment to the megabill on Wednesday evening, tailored to address objections from fiscal conservatives and moderates in the Republican conference. Its release followed a day of hurried negotiations between Trump, House Speaker Mike Johnson (R-La.), and conservative members of the House Freedom Caucus.

The amendment makes consequential changes to several key components of the bill, including the State and Local Tax (SALT) deduction and Medicaid. It would accelerate the start date of Medicaid work requirements—which are strengthened under the bill—from 2029 to 2026. It also speeds up the phasing out of Inflation Reduction Act energy tax credits for wind, solar, and battery storage in 2028, with some exceptions. (More)

The Federal Trade Commission (FTC) escalated its efforts to lower prescription drug costs, renewing challenges to more than 200 patents it says were improperly listed to prevent generic versions of brand-name drugs from reaching the market.

The commission sent warning letters to seven pharmaceutical companies: Novartis, Amphastar Pharmaceuticals, Mylan Specialty, Covis Pharma, and three Teva entities. The agency accused the drugmakes of using invalid or misclassified patents to delay generic competition for 17 drugs, including asthma inhalers, diabetes treatments, and epinephrine autoinjectors (EpiPen). These patents are listed in the FDA’s Orange Book, a database that helps determine which products are eligible for generic approval and exclusivity protections.

“Improper patent listings can delay generic alternatives from entering the market, keeping drug prices artificially high and preventing patients from accessing lower cost drugs,” the FTC on Wednesday. FTC Chairman Andrew Ferguson said the enforcement is part of a broader push by the Trump administration to reduce prescription drug costs. (More)

Taiwan wants to have peace with China, but must prepare for war in order to deter conflict, Taiwanese President Lai Ching-te said after delivering a speech marking his first year in office. Lai said Taiwan is “happy to” have dialogues and exchanges with China as an equal partner.

Beijing responded by saying that any discussions must be based on its “One China” principle, which claims that the communist regime is the only legitimate ruler on both sides of the Taiwan Strait. The Chinese Communist Party (CCP) has never governed Taiwan, but views the self-ruled democracy as a renegade province. It pledged to “unite” Taiwan with the mainland and hasn’t ruled out the possibility of using force to absorb the island.

Since Lai took office last year, the Chinese regime has stepped up its rhetoric against those it calls Taiwan separatists and ramped up military and patrol activities in the Taiwan Strait. According to U.S. intelligence, Chinese leader Xi Jinping had ordered the Chinese military to be ready to invade Taiwan by 2027. (More)