This is Lever Weekly, a recap of our work from the past week. If you only read one email from us all week, this should be it.
Our work is driving accountability at the highest levels. In the past few weeks, our reporting has inspired two congressional investigations and taken center stage at a Trump nominee’s confirmation hearing. But there is much more to do. Join us in our mission by becoming a supporting subscriber with a big discount.
Here’s what The Lever published this week:
LEVER DEEP DIVE OF THE WEEKFDA Approved — And Ineffective. Federal regulators have authorized hundreds of drugs without evidence they work, and many are dangerous.
LEVER SCOOPS OF THE WEEK
How To Combat America’s Culture-Warrior-In-Chief. Billionaires want Dems to talk about democracy, tout “abundance,” and play dead. But anti-oligarch politics is the only way to fight Trumpism.
Crypto’s New Bailout Fund: Your Savings Account. The GENIUS Act would require banks to prioritize stablecoin owners over customers if there’s a financial collapse.
The Trump Protests Will Fail — Unless People Do This. The resistance won’t succeed until it stops being a performance and starts challenging the system that got us here.
A Chilean Billionaire Strikes Gold In The Budget Bill. The budget reconciliation bill includes an environmentally devastating natural resources giveaway to a Chilean billionaire with close ties to the Trump family.
A Democratic Governor Lends A Hand To Loan Sharks. Maryland Governor Wes Moore just approved a new carveout exempting predatory payday lenders from state regulations.
AI Is Coming For Your Credit Union. The federal watchdog tasked with overseeing credit unions has no authority to regulate how they’re using artificial intelligence.
Meet Your Abundance Governor. Colorado’s Democratic governor has been crushing consumer-protection measures to free the economy from burdensome regulation, Abundance-style.
Wall Street’s At Home With Grandma. Private equity firms and major health insurers are taking over the home care industry, with deteriorating outcomes for patients.
THIS WEEK ON LEVER PODCASTS
Big Tech’s Monopoly Money. Lawmakers are about to let tech giants issue their own currency — what could go wrong?
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THIS WEEK’S LEVER DAILY HIGHLIGHTS
Not yet reading Lever Daily? You’re missing out on news like this:
🗓️ No-show nominee. This week, Republican members of the Senate Finance Committee advanced former Rep. Billy Long’s (R-Mo.) nomination to serve as commissioner of the Internal Revenue Service. Meanwhile, new reporting on Long’s internal calendar reveals he’s a “no-show” at his new role at the Office of Personnel Management (an agency key to DOGE’s cuts to the federal bureaucracy), averaging just three meetings a week. Before his final vote, Long can expect to be grilled by the rest of the Senate on his potential bribe-taking (exposed first by The Lever) and his “sketchy at best” pandemic side-hustle of selling nonexistent tax credits.
😅 Even the Fed is drowning in swipe fees. Federal agencies wasted roughly $784 million in taxpayer funds on interchange fees in 2023, a new report finds, averaging about $1 wasted for every transaction. Approximately 85 federal entities accepted $45 billion in consumer credit and debit card payments that year, but lost 1.8 percent of that revenue to fees, a majority of which went to the credit card duopoly Visa and Mastercard. These two companies accounted for nearly 60 percent of the $172 billion in swipe fees that banks and creditors collected from consumers in 2023. This comes alongside revelations that New York is paying the duopoly as much as $1 million a month in fees to process New York City subway fares.
👯 Flying? Bring a friend. After reports emerged last week that the country’s three largest airlines were “penalizing” solo travelers with higher ticket prices, Delta and United quickly reversed the policy. According to Thrifty Traveler, United, Delta, and American Airlines were charging solo travelers as much as 68 percent more per ticket than fares bought in pairs or groups, and it wasn’t a glitch — Delta and United have arcane fare rules that levy “accompaniment restrictions,” aka two-person minimums, on its lowest-priced tickets. Meanwhile, Delta announced in May that it will soon no longer offer “basic economy” tickets meant to compete with discount airlines like Southwest, which also got rid of its famous free bag policy last month.
WE LOVE TO SEE IT
Every week, our paid subscribers receive a newsletter full of policy wins, environmental victories, and social initiatives improving their lives.
A taste of this week’s good news:
- One less state will sell your every step.
- Red states are focusing on the family.
- One city reckons with its brutal history.
- A big player puts a higher price on sports betting.
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LEVER IN THE NEWS
KQED — The California public radio program broadcast the first episode of Lever Time’s special miniseries Tax Revolt, which centers on the Golden State’s anti-tax movement.
KUNC — Colorado’s public radio program featured our reporting on a secret ICE subpoena.
- Axios and Colorado Sun also referenced our reporting on this explosive whistleblower account.
Revolving Door Project — The watchdog group featured our reporting on a Trump-connected Chilean billionaire who’s set to benefit from the “Big Beautiful Bill.”
The Intercept Briefing — David Sirota joined the show to discuss how Democrats can regain voters’ trust.
CounterSpin — Katya Schwenk joined the show, part of the Fairness and Accuracy In Reporting project, to discuss her reporting on Boeing’s criminal trial.
Cochrane Italia —The Italian publication referenced our investigation on the FDA’s troubled drug approval process.
Bisnow — The blog referenced our reporting on AI-assisted rental price fixing, which could be enshrined in the new budget bill.
Talking Points Memo — The publication featured our reporting on IRS Nominee Billy Long’s business connections.
Texas Observer — The publication featured our reporting on the future of labor protections under Trump’s new workplace safety chief.
The White Canon — David Sirota joined the film podcast to discuss the cinematic masterpiece that is Dazed & Confused.
