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2026/01/06

What's Ahead in 2026

From the battle for Congress to Ukraine peace talks, here's what to watch this year.
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Quick Hits: Today's Top Stories
  • Nicolás Maduro and his wife, Cilia Flores, made their first court appearance before a federal judge in New York on Monday, with the deposed Venezuelan dictator facing four federal narco-terrorism, gun, and drug charges. Maduro emphasized that he was "innocent" of all charges, and maintained that he was "still president of my country," while his attorney argued that his extraction was likely illegal. Venezuelan Vice President Delcy Rodriguez was sworn in to succeed Maduro during a parliamentary session on Monday, and was previously selected by the country's Supreme Court to lead. Also on Monday, the Venezuelan government ordered police to arrest those alleged to have been involved "in the promotion or support for" the U.S. operation in Venezuela. To learn more about the operation, read yesterday's TMD (with the paywall removed).
  • Law enforcement officials on Monday arrested and charged a 26-year-old man who was caught allegedly attempting to break into Vice President J.D. Vance's home in Cincinnati, Ohio. The suspect was armed with a hammer and smashed through the residence's windows before being apprehended, according to police. Vance and his family were in Washington, D.C., and not in the home at the time.
  • According to an intelligence report obtained by The Times of London, Iranian Supreme Leader Ali Khamenei plans to flee to Moscow if protests destabilize his regime. The Iranian government has been unable to quell mass protests erupting around the country in response to inflation exceeding 40 percent and a collapse of the Iranian currency, the rial. The New York Times reported Sunday—citing three senior Iranian officials—that regime leaders have acknowledged that the Iranian government has been "thrust into survival mode." In response to Israeli Prime Minister Benjamin Netanyahu's statement on Sunday extending public support to the Iranian protesters, a spokesman for Iran's Foreign Ministry accused Israel of attempting to "sow division and undermine our national unity."
  • Danish Prime Minister Mette Frederiksen yesterday warned that President Donald Trump "should be taken seriously" when he says the U.S. should control Greenland, as he did Sunday. Trump had told reporters, "We need Greenland from the standpoint of national security, and Denmark is not going to be able to do it, I can tell you." Frederiksen quickly responded that Greenland is "not for sale," and that the security concerns are void as Denmark—and Greenland by extension—are part of the NATO alliance. U.K. Prime Minister Keir Starmer said Monday that Frederiksen is "right about the future of Greenland," and German Foreign Minister Johann Wadephul also emphasized that Greenland belonged to Denmark.
  • Amid scrutiny into widespread fraud in Minnesota's state safety net programs, the state's two-term Democratic Gov. Tim Walz announced he would no longer seek reelection. In a statement announcing his decision, he defended his administration, but said he would not have time to campaign in this year's election while "defending the people of Minnesota against the criminals who prey on our generosity and the cynics who prey on our differences." The move came barely a year after Walz served as the running mate to Democratic presidential nominee Kamala Harris. On Monday, the White House Office of Management and Budget confirmed it will freeze $10 billion in child care funding for California, Colorado, Illinois, Minnesota and New York over claims of fraud and providing assistance to illegal immigrants, and the Trump administration reportedly deployed 2,000 federal agents to the state's Twin Cities area, from Immigration and Customs Enforcement and the Department of Homeland Security.
20/26 Vision
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Silhouette of a businessman walking down North Michigan Avenue in Chicago. (Photo via Getty Images)
Editor's note: This was going to be our first TMD of the new year, until major news events changed our plans. So, a day later, here's our look ahead at the big stories and events coming up this year in U.S. politics, business, and around the globe.

This Year in America

You'd lose money betting on a quiet year in U.S. politics, but the biggest event on the calendar is the congressional midterm elections, when voters will determine which party controls the House and Senate. Midterms are typically challenging for the party that holds the White House, and 2026 looks set to continue the trend. In the RealClearPolitics polling average, a generic Democratic candidate leads a generic GOP candidate by about 4.2 percent.

Some of the specific races to watch:
  • Georgia: One-term Democratic Sen. Jon Ossoff is seeking reelection after narrowly defeating former GOP Sen. David Perdue in a January 2021 runoff election. Challenging him from the Republican Party: Rep. Mike Collins has a slight lead in the GOP primary, ahead of his House colleague, Rep. Buddy Carter, and the former University of Tennessee football coach, Derek Dooley.
  • Maine: Moderate Republican Sen. Susan Collins has represented her state in the Senate since 1997, and has said she plans to seek reelection. She will face either the 41-year-old populist progressive Graham Platner or the 78-year-old Democratic Maine Gov. Janet Mills. Platner gained traction with younger voters, but has encountered controversy: notably, that he had a symbol associated with the Nazis tattooed on his chest. In October, Platner had the tattoo covered up, stating that he was unaware of the connection. Mills announced her entry into the race last October, and recent polling has her slightly ahead in the party's primary.
  • Michigan: Two-term Democratic Sen. Gary Peters is retiring, with Rep. Haley Stevens and Michigan state Sen. Mallory McMorrow positioning themselves as early contenders in the Democratic primary to replace him. Abdul El-Sayed—the former Michigan Health, Human, and Veterans Services director endorsed by prominent progressives, including Sen. Bernie Sanders of Vermont—is also running. For the GOP, former Rep. Mike Rogers is again seeking a Senate seat after he lost the state's 2024 Senate race by less than one-half of a percentage point to Democrat Elissa Slotkin.
  • North Carolina: Former Republican National Committee chairman Michael Whatley is the frontrunner to secure the GOP nomination to succeed outgoing Republican Sen. Thom Tillis, and has already secured endorsements from President Donald Trump and GOP Senate Majority Leader John Thune. Whatley trails the likely Democratic nominee for Senate, former two-term Gov. Roy Cooper, in recent general election polls.
Democrats have a narrow path to a Senate majority, but they have a good chance at taking the House. Republicans have a razor-thin seven-seat majority in the House, holding 220 seats, and the Cook Political Report categorizes 17 House races as toss-ups, of which only five are current Democratic seats.

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Today's Must-Read

Tax Enforcers Are Actually the Good Guys
Jens Heycke
Few government functions provoke as much reflexive hostility as tax enforcement—but while taxpayer animus towards the IRS is understandable, author Jens Heycke believes that the men and women responsible for bringing down ultra-rich tax evaders are the real heroes, contributing mightily to the government's bottom line. "For every dollar Congress gives IRS enforcement, the organization typically returns $5 to $9," he writes. "That's a 500 to 900 percent return on investment. I am hard-pressed to think of another government program that comes close." This year, the Trump administration dismantled the DOJ's Tax Division, dispersing its attorneys and enforcement functions. Heycke argues that limited government advocates should seek to preserve these investigators—who are not expanding government, but instead making sure the government we have operates more efficiently by forcing big-time cheats to pay what they owe.

Toeing the Company Line

Revenge Against the Nerds
Kevin D. Williamson
The unsustainable nature of the Affordable Care Act was all too predictable.

The Other 'America First'
Nick Catoggio
From isolationism to imperialism.

The Capture of Nicolás Maduro
Steve Hayes, Jonah Goldberg, Gil Guerra, and Mike Nelson
Can we trust the Trump administration?

The Legality of U.S. Operations in Venezuela
David French
Plus: Why David French doesn't use AI.

A black and red screen with text
In Other News
Today in America:
  • The Department of Health and Human Services announced it would reduce the number of vaccines recommended for every child from 17 to 11, with the Centers for Disease Control and Prevention only recommending the other six vaccines—for hepatitis A, hepatitis B, meningococcal disease, rotavirus, influenza, and respiratory syncytial virus—to high-risk children or after consultation with a doctor.
  • A regulatory filing from the Transportation Department proposes reducing enforcement of airline consumer protection rules against airlines and ticket agents, including issuing a warning before applying penalties.
  • California said it would delay revoking commercial driver licenses for as many as 17,000 people until March, in response to a lawsuit filed by immigrant trucking groups.
  • The Trump administration has awarded $2.7 billion to three nuclear energy companies to support uranium enrichment.
  • Defense Secretary Pete Hegseth announces he is censuring Democratic Sen. Mark Kelly of Arizona, a retired Navy captain, for urging U.S. service members against carrying out illegal orders.
  • The State Department has added five countries to its list of nations whose citizens have to post bonds of $5,000 to $15,000 in order to enter the United States. The 13 countries are Bhutan, Botswana, the Central African Republic, Gambia, Guinea, Guinea-Bissau, Mauritania, Malawi, Namibia, Sao Tome and Principe, Tanzania, Turkmenistan and Zambia.
Around the World:
  • German officials said that a left-wing extremist group was likely behind the arson attack that caused a power blackout across Berlin. Nearly 40,000 homes and businesses remain without power.
  • Russia launched five missile strikes targeting energy infrastructure in the eastern Ukrainian city of Kharkiv. Also, a Russian air strike in the southeastern Ukrainian city of Dnipro damaged a facility owned by a U.S.-based agricultural company, Bunge.
  • China's Foreign Ministry said that a ceasefire deal between Cambodia and Thailand was "gradually" taking effect and that Thailand returned 18 Cambodian soldiers.
  • The Israel Defense Forces (IDF) launched air strikes in eastern and southern Lebanon, targeting what it described as Hamas and Hezbollah terrorist infrastructure. Prior to the attack, the IDF issued evacuation notices to four Lebanese villages.
  • Israeli authorities announced that, last month, they arrested a 30-year-old man suspected of conducting surveillance for Iran in exchange for money.
  • Ukrainian President Volodymyr Zelensky tapped Major-General Yevhenii Khmara to lead Ukraine's Security Service and appointed former Canadian Deputy Prime Minister Chrystia Freeland to serve as an economic adviser.
On the Money:
  • Nvidia and AMD both unveiled new, more powerful AI chips at the Consumer Electronics Show in Las Vegas.
  • Novo Nordisk released a pill version of its Wegovy GLP-1 weight-loss drug.
  • Both U.S.-benchmark and Brent crude oil futures increased on the first day of trading since the U.S. operation to remove Maduro.
  • Agencies in Europe, India, and Malaysia are investigating X—formerly known as Twitter—after its chatbot Grok complied with user requests to generate nonconsensual, sexualized images of women and minors.
  • A recent OpenAI report found that more than 40 million ChatGPT users ask the chatbot about health information on a daily basis.
  • Due to Western sanctions, $500 million of bonds in the encrypted messaging app Telegram have reportedly been frozen.
Worth Your Time:
  • "Giant Abroad, Midget at Home" (Tablet)
  • River Page on AI generated deepfake nude imagery. (The Free Press)
  • Sam Enright on visiting Taiwan. (The Fitzwilliam)
  • Matthew Yglesias argues that New York City's new mayor, Zohran Mamdani, has had a strong start to his term. (Slow Boring)
  • Amber Zhang on China's new economic experiment in Hainan. (Baiguan)
  • Matthew Continetti considers whether the Beatles are becoming culturally irrelevant. (Wall Street Journal)
Presented Without Comment
The New York Times: 10 People Are Convicted of Cyberbullying France's First Lady
Also Presented Without Comment
Forbes: Cop Transforms Into Frog, According To AI-Generated Police Report
Also Also Presented Without Comment
Fox News: Florida Man in Red Lingerie Allegedly Hid Gun Under Prosthetic Silicone Breasts: 'It Was Ugly'
Let Us Know
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