Marco's Morning Report

Friday, May 29, 2026 · Cape Coral

Morning, Marco. Last weekday before the Florida property-tax special session and your wheels-up to Lisbon — both kick off Monday. Iran tested the ceasefire overnight with a ballistic missile at Kuwait and a drone swarm at Hormuz, and the Mets finally won a baseball game. The trip warm-up is Day 6 today: Córdoba and Granada. Coffee, then bed.

A · Top Stories

Iran fired a ballistic missile at Kuwait and a drone swarm at Hormuz overnight — even as a deal is "largely negotiated"

At 10:17 PM ET May 27, Iran launched a ballistic missile toward Kuwait (intercepted) and five one-way attack drones at the Strait of Hormuz (also intercepted). CENTCOM called it an "egregious ceasefire violation." A sixth drone launch from Bandar Abbas was preempted by US forces. The strikes came hours after US officials briefed reporters that the framework deal — Hormuz reopening, port blockade lifted, 60-day nuclear talks — is essentially agreed but unsigned by Trump and the Supreme Leader. CNN live blog · Al Jazeera · CENTCOM statement

Why it matters to you: The negotiation cadence and the battlefield cadence have now diverged four times in 96 hours. Trip-relevant: oil price spikes from a Hormuz incident would show up at the gas pump in Madrid the day you land, but airspace and overflight routes are unaffected this far west — BA206 / TP224 routings are clean.

Talking point: if Pepin asks about Iran at dinner, the simple frame is "they signed a piece of paper with one hand and pulled the trigger with the other in the same news cycle."

DeSantis formally called Florida's homestead property-tax special session for Monday, June 1 — the day you leave

Session opens Monday in Tallahassee. The headline proposal: raise the homestead exemption from $50K to $150K in 2027 and $250K in 2028, then put lawmakers on a schedule to phase out homestead property taxes entirely via a 2026 ballot amendment. DeSantis says the $250K cap eliminates property tax for 60% of Florida homeowners (he separately claims 92% see a cut). House Speaker Daniel Perez (R-Miami) issued a notably cool statement saying the Governor "finally gotten around to share an actual proposal" — the House passed its own version already. WFSU · NBC Miami

Why it matters to you: Direct homeowner impact. The Florida Policy Institute estimates the elimination piece would require doubling state sales tax from 6% to 12% to backfill local revenue — which would hit you on the consumption side instead. Watch for what the Senate does to the bill before you board your flight.

Watch: Section B today is the full debate, both sides argued by named voices.

Knicks await a Game 7; Mets snapped the streak; Senga targets early June

The Thunder–Spurs WCF goes to Game 7 Saturday May 30 in Oklahoma City after San Antonio's 118–91 hammering in Game 6 Thursday. Whoever wins gets the Knicks in Game 1 Wednesday June 3, 8:30 PM ET on ABC — that's 2:30 AM Madrid time, the same night as your Day 3 in Lisbon. The Mets finally won, 4–2 over the Reds May 27, snapping a 5-game skid. Kodai Senga had a clean second rehab outing and is on track to rejoin the rotation around June 2 against Tampa. Luis Robert Jr. moved to the 60-day IL with a lumbar disc herniation — no surgery, but he's out for a while. CBS Sports Finals schedule · Mets injury report

Why it matters to you: The Knicks Finals overlap your entire trip. Game 1 = 2:30 AM Madrid local. If you want to watch live, the Maydrit Airport hotel will have a US-streamable WiFi setup; if you'd rather sleep, the recap will be on your phone by breakfast.

Reminder you put in dedup yesterday: Mets injury-return cluster (Senga Jun 2, Lindor mid-Jun, Polanco early Jun) all play out while you're in Iberia. You'll come home to a different team.

B · The Debate

Returning to Florida homestead because the Governor just turned a slogan into a bill, the special session gavels Monday, and a real fight has broken out — including inside his own party. (Last covered May 27; today's update is the legislative posture, not the slogan.)

Should Florida eliminate the homestead property tax?
Why it's live right now: DeSantis formally called the special session for Monday June 1 in a press conference Wednesday, putting a constitutional amendment on the 2026 ballot that would raise the homestead exemption to $250K and require lawmakers to schedule a full phase-out.
THE CASE FOR

Property tax has become a stealth income tax on retirees and middle-class homeowners. Residential collections in Florida rose from $32B in 2019 to $60B in 2025 — not because anyone voted for it, but because reassessed home values dragged the bill along. Lifting the homestead exemption to $250K wipes the levy off 60% of homesteads immediately and lets voters decide whether to phase the rest out by amendment. House Speaker Daniel Perez (R-Miami) has been ahead of the Governor on this for months — the House already passed its version — and the relief is real: a typical Lee County homeowner on a $400K homestead saves $3,000–$4,500 a year. Florida Politics — Perez statement · DeSantis announcement

THE CASE AGAINST

The plan blows a ~$25B hole in county and school budgets with no replacement revenue identified. The Florida Policy Institute estimates the sales tax would have to roughly double from 6% to 12% to backfill — meaning renters and lower-income families would absorb the cost while wealthy homeowners pocket the relief. Former state Sen. Jeff Brandes (R), now at the Florida Policy Project, called the rollout "amateur" and said "67 totally different counties" mean a uniform cut "great for one county could crush 31 poor counties." Cities have warned that public safety, schools, and infrastructure are the line items on the chopping block. WFLX — early scrutiny · Capital Analytics — local impact

Where it might land: Special session opens Monday; the constitutional amendment would still need 60% voter approval in November 2026 to take effect. The Governor and Speaker now agree on direction but not on authorship — that fight is the one to watch this week.

C · On My Radar

D · Trends to Watch

E · Ideas & Opportunities

F · Trip Warm-Up — Day 6 preview: Córdoba → Granada

June 6 takes the group out of Seville, across the Guadalquivir basin to Córdoba for the Mezquita-Catedral, then up into the Sierra Nevada foothills to Granada. Two of the highest-density days in all of Iberia, history-wise. Background to load now so it lands at the right time.

Córdoba — the city that was the largest in Western Europe in the 10th century

Under the Caliphate of Abd al-Rahman III in the 900s, Córdoba had roughly half a million people, a library of 400,000 volumes, and street lighting — at a moment when Paris had maybe 20,000 people and most of Europe was reading by candle, when it bothered reading at all. That's the lens to bring to the Mezquita.

Mezquita-Catedral talking point: Begun in 785 by Abd al-Rahman I, expanded by his son and grandsons for two centuries. The "forest of arches" — 856 columns of jasper, granite, and marble in red-and-white horseshoe stripes — borrows the trick from Roman aqueduct construction (stack two arches to span a wider gap with shorter columns). The bizarre part is in the middle: in 1523, three centuries after the Reconquista, Carlos V let the local clergy gut the center of the mosque to drop a Renaissance cathedral into it. Visiting the site, he reportedly told them: "You have built what you or others might have built anywhere, to do so you have destroyed what was unique in the world." Few sentences from a Habsburg king have aged better. Mezquita-Catedral background

Tip for the visit: the Judería (Jewish quarter) walking tour is genuinely good, but the alleyways are narrow and pickpocket-prone in summer. Wallets in front pocket; phones not in back pockets.

Granada — last Moorish kingdom in Iberia, surrendered the same year Columbus sailed

Granada's the bookend: the Mezquita is what al-Andalus built at its peak; the Alhambra is what it built when it knew it was running out of time. The Nasrid dynasty held Granada as a tribute-paying vassal kingdom for 250 years after the rest of al-Andalus had fallen. On January 2, 1492, Muhammad XII (the Spanish call him Boabdil) handed Ferdinand and Isabella the keys. Three months later the Catholic Monarchs signed the Alhambra Decree expelling Spain's Jews; six months after that they signed Columbus's contract. All of it from the same rooms you'll walk through on Day 7.

Albaicín talking point: the white-walled Moorish quarter across the ravine from the Alhambra survived not because anyone protected it but because nobody could be bothered to bulldoze hillside streets too narrow for horses. UNESCO World Heritage now. The viewpoint at Plaza San Nicolás is the postcard shot — the Alhambra catches the late sun while the Sierra Nevada glows pink behind it. Walk up at sunset if energy allows.

Practical note for Day 7: the Alhambra visit is the trip's hardest stop to do twice if you miss something. Slow down at the Court of the Lions — the 12-lion fountain is the only place in Granada where Islamic iconography of living creatures survives in a major architectural element, which is itself a sign of how powerful the Nasrid court thought it had become.

H · Background / Already Covered (last 7 days, no new developments today)
📚 Archive · last 7 morning reports