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Senate Dems Block Defense Authorization Bill | Balance of Power 07/15/2026

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Sen. Dave McCormick (R-PA) says the U.S. must modernize its defense industrial base by accelerating procurement and investing in next-generation technologies like drones and AI alongside traditional military capabilities. Sen. Jack Reed (D-RI) says he opposes potential military options involving US ground troops or seizing Kharg Island, warning land combat would be extensive and could put American service members' lives at risk. Sen. Jon Husted (R-OH) says Chuck Schumer is "setting us up for a shutdown" and urges Republicans to consider passing a continuing resolution early if Democrats do not engage on appropriations, saying, "I think we could." Chapters: 00:02:26 Bloomberg’s Jonathan Tamari on Acting AG Todd Blanche Faces Senate Confirmation Hearing 00:05:29 Bloomberg’s Tyler Kendall Interviews Senator Dave McCormick (R-PA) 00:10:12 Sen. Dave McCormick (R-PA) on Pentagon Policy Bill Authorizing $1.15T in Defense Spending 00:14:04 Sen. Dave McCormick (R-PA) on Trump Admin. Taking Equity Stakes in the Pentagon and Trilogy Metals 00:16:44 Senator Jack Reed (D-RI) on Possibility Trump Seizes Kharg Island and Troops on the Ground in Iran 00:24:19 Sen. Jack Reed (D-RI) on Trump: Russia Sanctions Bill May Include Hezbollah, Iran 00:27:30 Bloomberg’s Alicia Caldwell on Trump Demands Ice Restart Traffic Stops After Maine Killing 00:30:59 Senator Jon Husted (R-OH) on House GOP Releases Blueprint To Spend up to $95B 00:33:15 Sen. Jon Husted (R-OH) on Senate Dems Block Defense Authorization Bill 00:37:15 Sen. Jon Husted (R-OH) on Trump To Deliver Address on Elections Thursday Night 00;40;58;29 Political Panel Reacts: Jay Clayton Hearing, House GOP Releases Blueprint To Spend up to $95B, Trump Russia Sanctions Bill -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts