I'm not drawing any conclusions yet but I'm headed in this direction too. I thought the Senate Pubs might go along with Schumer's recent proposal to extend the subsidies for a year because that would be the smart political play. But it's becoming more clear all the time that Johnson won't cooperate, regardless of whether that's politically smart or not. And it's really not feasible to have airports at severely diminished capacity during Thanksgiving week. The anger would be so extreme it would likely start to hurt the Dems as much as the Pubs.
I don't like this deal at all, but I can see the upsides. First, as you note, it puts the Pubs in a real bind on affordability going into 2026. Second, if the Dems and the Massie wing of the GOP play this right, one of the main conversations around the Thanksgiving table this year may be Epstein. And that's the LAST thing Trump and Johnson want.