Elon Blasts Trump Tax Cut Bill

QUIVER STRATEGIES
Check out our top Performing Strategies

Each week, we are highlighting the top Quiver Strategies trending right now:

In today’s edition:

• Political News & Congress Trading

• Autopilot Portfolios Feature

• Fed Lifts $1.95 Trillion Cap on Wells Fargo

  -David Love

POLITICS
Congress Trades & News

Insights from our Congress Trading Dashboard

Several politicians & members of Congress have already made millions of dollars in the stock market in 2025:

Elon Musk publicly lambasted President Trump’s sweeping tax-cut package as a “budget-busting abomination,” warning that the legislation’s massive cost would imperil the nation’s fiscal health.

Musk’s rebuke comes just days after he stepped down from his advisory role in the Department of Government Efficiency, a post he had undertaken to help the White House identify and eliminate wasteful spending.

His vocal criticism signals a renewed focus on the broader implications of federal debt and underscores growing unease within GOP ranks over the plan’s $2.5 trillion addition to the deficit over the next decade.

In other news we have some Congress trades to cover this week:

• Rep. Byron Donalds (R) bought up to $15k worth of Ammphenol on 4/10/25. (APH) released a strong earnings report right after this trade and he is now up 42% vs and S&P 500 up 13% since this trade.

• Rep. April McClain Delaney(D) has filed three new purchases of Tractor Supply Co stock (TSCO). On 5/13/25 she bought up to $45k worth of stock as she sits on the House Committee on Agriculture.

• Rep. Mike Collins (R) just disclosed a 5/1/25 purchase of Ethereum. (ETH) has risen 45% in the month since then.

• Near the start of the year, we started sounding the alarm that many members of Congress were buying Palantir stock for the first time. On 1/15/25 Rep. Julie Johnson (D) bought Palantir stock. Since then (PLTR) has now risen 93% vs -0.60% on the S&P 500.

DATA ROUNDUP
Featured Quiver Datasets

Here’s an overview and data updates from some our datasets and their corresponding dashboards:

Autopilot
Our partner Autopilot surpassed $750M in Assets Under Management (AUM). Here is a trade you could have copytraded using our Corporate Lobbying Spending portfolio on Autopilot:

• Earlier this month we flagged the company Box for spending $330k lobbying on AI privacy and taxes. Due to this it was included in the Corporate Lobbying Spending strategy and (BOX) was up as much as 17% after a strong earnings report.

You can explore more of Quiver’s portfolios available on Autopilot by downloading the app with the link below:

Insights from our Quiver Dashboards

NEWS
Fed Lifts $1.95 Trillion Cap on Wells Fargo, Shares Jump on Growth Prospects

Wells Fargo was freed from a $1.95 trillion asset cap imposed by the Federal Reserve in 2018, marking the end of a seven-year growth restriction. The Fed lifted the punitive measure on Tuesday, signaling that the bank had “substantial progress” in fixing governance and risk-management shortcomings.

The announcement, described by CEO Charlie Scharf as a “pivotal milestone,” sent Wells Fargo shares up 2.7% in after-hours trading. Investors cheered the bank’s ability to expand into credit cards, wealth management, and commercial banking without the need to shrink its balance sheet to stay under the cap.

Market Overview:

• Fed lifts seven-year asset cap on Wells Fargo, enabling unrestricted growth

• Wells Fargo shares rise 2.7% post-announcement as investors anticipate expansion

• CEO Scharf hails removal as a major step in the bank’s transformation since 2019

Key Points:

• Asset cap imposed after 2016 scandal involving unauthorized accounts and fees

• Fed cites “substantial progress” in governance, risk management, and third-party reviews

• Wells Fargo remains under enhanced oversight despite asset cap removal

Continue Reading