Senate Fails to Cut DHS Deal | Balance of Power: Early Edition 2/12/2026

Watch on YouTube ↗  |  February 12, 2026 at 20:01  |  41:55  |  Bloomberg Markets
Speakers
Shelley Moore Capito — Republican Policy Committee Chair
Mike Flood — U.S. Representative (R-NE), Chair of Main Street Caucus
Doug Farrar — Former Senior Advisor to FTC Commissioner Lina Khan; Principal, Maywood Strategies
Rick Davis — Republican Strategist, Partner at Stonecourt Capital
Joe Mathieu — Host, Bloomberg Radio

Summary

On the early edition of Balance of Power, hosts Joe Mathieu and Kailey Leinz cover the upcoming partial shutdown of the Department of Homeland Security as Congress fails to reach a funding deal before recess. Guests discuss the DOJ investigation into Fed Chair Powell and the confirmation path for Kevin Warsh, the White House's withdrawal of ICE surge operations in Minnesota, and the resignation of DOJ antitrust chief Gail Slater. Senator Shelley Moore Capito and Congressman Mike Flood also outline policy implications for coal and housing.

  • DHS funding deadline approaches with a partial shutdown likely as Congress leaves for recess.
  • Senator Capito says a DHS shutdown looks inevitable but supports extending debate and funding ICE, TSA, and Border Patrol.
  • Tom Homan announces a drawdown of ICE surge operations in Minnesota.
  • Panel discusses the resignation of DOJ antitrust chief Gail Slater and the M&A environment.
  • Senator Capito highlights the Pentagon's coal power purchase and the EPA's endangerment finding revocation.
  • Congressman Mike Flood discusses housing legislation, tariffs, and the Fed chair confirmation process.
  • Housing policy is presented as a bipartisan priority, with LIHTC and manufactured-home reforms cited.
  • The show closes with a discussion of the fragile Republican majority and upcoming midterms.
Ideas
Shelley Moore Capito Republican Policy Committee Chair 14:25
Pentagon coal deal supports coal industry.
The Pentagon order directing it to buy electricity from coal-fired power plants provides certainty to the coal industry, extends the life of coal-producing power plants, and supports more coal mining jobs. Coal also provides essential baseload power, especially during cold weather, and the industry is operating better, safer, and cleaner.
Coal sector HIGH
Doug Farrar Former Senior Advisor to FTC Commissioner Lina Khan; Principal, Maywood Strategies 27:23
Live Nation may get favorable settlement.
The DOJ's Live Nation antitrust lawsuit may be settled favorably for the company because Live Nation is connected to a famous friend and ally of the President. This would be a regulatory win for Live Nation but reflects a breakdown in the rule of law that could hurt consumers.
LYV MED
Mike Flood U.S. Representative (R-NE), Chair of Main Street Caucus 39:42
Housing supply reforms to unlock market.
Housing is a rare bipartisan priority. The One Big Beautiful Bill expanded Low Income Housing Tax Credits, which could contribute 1.2 to 1.3 million homes, and the 21st Century Housing Act would remove barriers and give states and cities more latitude, helping to unlock housing construction and address a 5 million unit shortage.
US Housing MED
Mike Flood U.S. Representative (R-NE), Chair of Main Street Caucus 40:52
Manufactured homes cheaper without chassis requirement.
The One Big Beautiful Bill removes the requirement for manufactured homes to have a chassis, cutting about $25,000 from the cost. This makes manufactured homes available for $220,000-$225,000 versus $400,000-$415,000 for stick-built homes, improving affordability and helping address the housing shortage.
Manufactured Housing MED
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This Bloomberg Markets video, published February 12, 2026, features Shelley Moore Capito, Doug Farrar, Mike Flood discussing Coal sector, LYV, US Housing, Manufactured Housing. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Shelley Moore Capito, Doug Farrar, Mike Flood  · Tickers: Coal sector, LYV, US Housing, Manufactured Housing