Here is what’s included in the GOP’s extensive 1,116-page proposal.
House Republicans made significant strides over the weekend by advancing a comprehensive package of tax proposals aligned with President Trump’s agenda. This move includes substantial spending cuts and adjustments to key federal programs. The House Budget Committee proceeded with a lengthy 1,116-page document during an unusual late-night vote on Sunday, amidst disagreements among Republicans regarding […]
Warren cautions about stablecoin legislation before the vote on the floor.
Senator Elizabeth Warren (D-Mass.) is urging her fellow lawmakers to support the revised Stablecoin legislation, expressing concerns that critical issues regarding President Trump’s ties to the cryptocurrency market remain unaddressed, which she believes could leave both financial markets and consumers at risk. The Genius Act, intended to establish a regulatory framework for financial stability, is […]
Main Senate Democrat supports stablecoin legislation
Senator Supports Stablecoin Regulatory Framework On Monday, a Senator from Virginia pushed for the establishment of a stable regulatory framework for payments as Senate leaders prepare to revisit the bill. This comes just ahead of a procedural vote scheduled for Monday evening on the Genius Act, which has garnered support from several Democratic leaders. “The […]
Shares decline following US credit rating reduction
The stock market took a hit on Monday, marking its first trading day since the US government’s credit standing took a significant hit. The Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 Index all reported declines right after the market opened. This followed a weekend that saw equity futures drop and a sharp rise […]
Republicans push forward Trump’s ‘big, beautiful bill’ in an uncommon late-night vote
In a surprising late-night session on Sunday, Republicans on the House Budget Committee gave the green light to President Trump’s legislation. The vote, which took place after 10 PM, saw a tight result of 17-16-4 for advancing the “One Big Beautiful Bill Act.” This decision followed Friday’s endorsement by four conservative members of the committee, […]
Trump’s tariffs assist the U.S. in achieving trade agreements, Bessent states
Treasury Secretary’s Take on Tariff Negotiations In a recent interview, Treasury Secretary Scott Bescent asserted that President Trump’s significant overhaul of tariffs last month has positioned the U.S. to secure more favorable trade deals with other countries, many of which he described as attractive. Bescent mentioned to CNN’s Jake Tapper, “With a few exceptions, countries […]
Bessent cautions that tariffs will go back to ‘Liberation Day’ levels if talks are not sincere.
The Treasury Department cautioned on Sunday that the mutual tariffs on trading partners might revert to the pre-“liberation day” rates from last month if good faith negotiations don’t take place. “I think it could return to the level seen on April 2nd,” Bescent remarked during an appearance on NBC’s “Meeting Kristen Welker,” when asked about […]
Trump criticizes Walmart for raising prices: ‘Absorb the tariffs’
President Trump took to social media on Saturday to criticize Walmart for its recent decision to increase prices, which he attributed to the costs stemming from the administration’s trade policies. “Walmart shouldn’t be using tariffs as an excuse to hike prices across the board,” Trump stated. He pointed out that the retail giant made significant […]
Trump discusses China’s trade changes: They “would have fallen apart”
Trump’s Perspective on Trade with China On Friday, President Trump expressed his belief that China may face greater challenges than the U.S. in the ongoing trade conflict, suggesting that America has regained a stronger morale following his re-election. “Without my dealings with China, I think they would be in serious trouble, but we won’t falter,” […]
Consumer confidence falls even with the halt on Trump’s tariffs: Survey
Consumer confidence continues to struggle in the aftermath of President Trump’s extensive tariffs on imports from various countries, even after a temporary relief he offered to shoppers last month. A recent consumer survey from the University of Michigan indicated that buyer sentiment, along with assessments of current conditions and future expectations, has declined for the […]