Axios

The average annual bonus on Wall Street last year was $246,900, up 6% from 2024, according to data out Thursday morning from the New York state comptroller's office.

Why it matters: Higher bonuses are a sign that finance had a good year — the market turmoil and uncertainty caused by the Trump administration's tariffs only helped boost business across Wall Street trading desks.

House Minority Leader Hakeem Jeffries (D-N.Y.) and some of his rank-and-file members are articulating increasingly discordant ideas of what "due process" looks like for Rep. Sheila Cherfilus-McCormick (D-Fla.).

Why it matters: Those divisions could spill out into public view very soon, with Cherfilus-McCormick — who has denied all wrongdoing — set to face a public House Ethics Committee hearing Thursday.

Senate Republicans and Democrats are in a high-stakes staring contest over funding the Department of Homeland Security, with Democrats refining their demands to include "guardrails" on money authorized in the One Big Beautiful Bill Act.

Why it matters: More insults were traded Wednesday than actual counteroffers.