WHAT TO WATCH AT SOTU: Washington is locking in for a late night of political theater. President Donald Trump’s State of the Union address is slated to begin at 9 p.m. — and he’s already forecasted that the speech will be long. But the president’s infamous “weave” will be competing for attention from just about everyone in politics. Here’s what we’ll be watching … Affordability, affordability, affordability: It’s Washington’s favorite buzzword in this midterm year. Republicans are hoping Trump uses one of his biggest platforms ahead of November to highlight how the White House is addressing pernicious cost-of-living concerns among voters, including his signature children’s savings accounts, bringing down prescription drug costs and temporarily halting taxes on tips and overtime in the One Big Beautiful Bill Act. Trump is expected during the speech to announce new cost-lowering measures, WSJ’s Meridith McGraw reports, calling on Congress to codify a health care framework he released earlier this year — though details remain scarce. The administration is also considering creating a new type of retirement savings plan Trump could first float tonight, per Semafor’s Eleanor Mueller. The GOP party line: House Republicans have been advised to carry the message of an “American comeback” and, most of all, draw as many comparisons as possible between Trump’s first year and the four that former President Joe Biden served, according to a copy of House GOP talking points viewed by Playbook. The laundry list of possible points to hype up — branded as a “menu of wins” shared with all House Republicans today — places a heavy emphasis on lowering costs and delivering on promises, Playbook’s Ali Bianco writes in. The points also encourage members to call back to what they will brand as Biden’s failures, a person familiar told Ali. And Republicans are deploying another tactic to make sure their affordability message lands: A fleet of podcasters and ring-wing media have spent the morning talking to lawmakers. The view from the other side of the aisle: Democrats are also planning to hit affordability hard in their counterprogramming. Virginia Gov. Abigail Spanberger, who won back the Richmond governor’s mansion last year on a cost-of-living-focused campaign, is set to deliver a similar message in the party’s official rebuttal tonight. She’s also expected to speak “about her successful statewide campaign and the lessons we can apply to the midterm election” at House Democrats’ annual policy retreat kicking off tomorrow, POLITICO’s Mia McCarthy reports. Guest watch: Trump’s guests include the parents of Sarah Beckstrom, the 20-year-old National Guard member who was shot and killed in D.C. in November, along with 7-year-old Dalilah Coleman, who was injured in a car accident allegedly caused by an unauthorized immigrant, per CBS’ Jennifer Jacobs. He’s also planning to award E. Royce Williams, a 100-year-old veteran, the Presidential Medal of Honor — the first time a president has ever awarded the country’s top military prize during a SOTU address, per CBS. Erika Kirk, the CEO of TurningPoint USA and widow of the late MAGA activist Charlie Kirk, will also be among the VIPs in attendance, per The Daily Wire’s Mary Margaret Olohan. Trump is expected to highlight a “tremendous revival of faith, Christianity, and belief in God in our country” since Kirk’s assassination, a White House official told The Daily Wire. Democrats, of course, are also bringing a slate of guests meant to highlight their political talking points, including small business owners harmed by Trump’s tariffs, relatives of the survivors of Jeffrey Epstein, a family member whose son was taken by ICE and people whose health insurance premiums have jumped dramatically. On the Epstein note, members of the House Democratic Women's Caucus will be wearing pins that read “STAND WITH SURVIVORS, RELEASE THE FILES,” Semafor’s Nicholas Wu reports. Empty seats: Dozens of Democrats are expected to sit out the speech altogether, including at least 30 members of Congress who plan to instead attend a “People’s State of the Union” counterprogramming event just outside the Capitol on the National Mall. There will also be a major focus on which Supreme Court justices show up after Trump last week slammed members of the bench and called two of his own appointees “an embarrassment to their families” after the high court ruled to strike down his tariffs. Good Tuesday afternoon. Thanks for reading Playbook PM. This is Irie Sentner, stocking up on caffeine. Get in touch at isentner@politico.com. POLITICO DOWN UNDER: POLITICO announced today that it’s expanding to Australia, launching a Canberra Playbook when the Australian Parliament returns from its winter recess later this year. POLITICO veteran Ryan Heath is leading the expansion as Australian Launch Editor. The move will bring POLITICO’s signature ahead-of-the-curve reporting to a new power center in the Indo-Pacific, aimed squarely at Australia’s most influential readers — and at helping audiences in North America and Europe better understand how decisions made in Australia ripple across trade, defense, energy and critical minerals and vice versa. The announcement
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