Dems' Poll Numbers PLUMMET, plus How to Save $1TRILL in Fed Spending & Why We Need to Fix the Tax Laws to Treat Poker Pros Fairly

The 47 Morning Update with Ben Ferguson

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🗳️ Democrats' Poll Numbers Plummeting

A recent Wall Street Journal poll shows the Democratic Party's approval rating at its lowest in 35 years.
Only 33% of voters view the party favorably, while 63% view it unfavorably.
Cruz attributes this to the party being overtaken by extreme left-wing voices and unpopular stances on issues like:
- Open borders
- Defunding the police
- Support for controversial protests
- Gender and youth medical policies
He warns Republicans not to become complacent despite favorable polling.

💰 Proposal to Save $1 Trillion in Federal Spending

Cruz proposes ending the Federal Reserve’s practice of paying interest on bank reserves.
This policy, introduced in 2008, cost taxpayers $168 billion in 2024 alone, with nearly half going to foreign banks.
Cruz argues that:
- The Fed operated for nearly a century without paying interest on reserves.
- Ending this would encourage banks to lend more and support economic growth.
- It could also help lower interest rates and reduce the deficit.

♠️ Fixing Tax Laws for Professional Poker Players

A provision in the “One Big Beautiful Bill” changed how gambling losses are deducted.
Previously, players could deduct 100% of losses from winnings; now only 90% is deductible.
This results in some players being taxed on income they didn’t actually earn.
Cruz, along with bipartisan support, is pushing legislation to reverse this change, arguing it's unfair and could drive poker professionals out of the U.S.

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