Breaking
Golden Era Investor
Archive

June 2025

Browsing
Politics

​​Trump says Israel’s next Iran attack will be even more brutal: ‘Make a deal’

Politics 3 Mins Read

President Donald Trump promised that Israel’s next round of attacks on Iran would be ‘even more brutal’ in a Truth Social post pressuring Iran to cut a deal on its nuclear activity. 

‘There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end,’ Trump said. 

‘Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire. No more death, no more destruction, JUST DO IT, BEFORE IT IS TOO LATE.’

Trump said he warned Iran that ‘the United States makes the best and most lethal military equipment anywhere in the World, BY FAR, and that Israel has a lot of it, with much more to come – And they know how to use it.’

‘Certain Iranian hardliner’s spoke bravely, but they didn’t know what was about to happen. They are all DEAD now, and it will only get worse!’

The U.S. and Iran have another round of nuclear talks scheduled for this weekend in Muscat, Oman, while the two sides remain on opposite ends over whether Iran should have the capacity to enrich uranium at all, even for civil energy purposes. 

It is not clear whether those negotiations will carry on in light of the attack. Trump had urged Prime Minister Benjamin Netanyahu to let talks play out before launching any strikes. 

 ‘I think it would blow it,’ Trump said earlier yesterday of the prospect of a premature Israeli attack. But then, he mused, it ‘might help it actually, but it also could blow it.’ 

After the attack, Secretary of State Marco Rubio put out a statement insisting the U.S. had no part in the strikes and urged Iran not to attack U.S. positions. Earlier, non-essential embassy staff in Iraq had been evacuated in light of the prospect of an attack. 

Tehran fired over 100 drones toward Israel on Friday morning in a counter-move, which Israel intercepted. 

Netanyahu revealed the Israeli Defense Forces (IDF) struck a key nuclear site, Natanz, during the attack on the regime.

Among those killed were top nuclear scientists and top military leaders: General Hossein Salami, the commander-in-chief of Iran’s Revolutionary Guard Corps (IRGC), and Major General Mohammad Bagheri, Iran’s highest-ranking military official and chief of staff of the IRGC, along with most of the IRGC air force high command, who were convened in an underground bunker at the time. 

The first wave of strikes hit over 100 targets with 200 Israeli fighter jets dropping ‘330 different munitions,’ the IDF said, adding the strikes will carry on for days. 

This post appeared first on FOX NEWS

Keep Reading
Business

Howard Schultz says he ‘did a cartwheel’ when Starbucks CEO Niccol coined ‘back to Starbucks’ strategy

Business 3 Mins Read

LAS VEGAS. — Former Starbucks CEO Howard Schultz said Wednesday that he “did a cartwheel” in his living room when current chief executive Brian Niccol first coined his “back to Starbucks” strategy.

The enthusiasm from the 71-year-old Starbucks chairman emeritus is a key stamp of approval for Niccol as he tries to lift the company’s slumping sales and restore the chain’s culture.

Schultz, who grew Starbucks from a small chain into a global coffee giant, made a surprise appearance at the company’s Leadership Experience in Las Vegas and cosigned Niccol’s plans. The three-day event has gathered more than 14,000 North American store leaders to hear from Starbucks management as the company embarks on a turnaround.

Niccol took the reins in September, joining the company after the board ousted Laxman Narasimhan, Schultz’s handpicked successor.

Schultz had returned in 2022 for his third stint as chief executive, but it was only an interim role. He previously told CNBC that he has no plans to come back again. Schultz no longer holds a formal role within the company, although CNBC has previously reported that he’s forever entitled to attend board meetings unless barred by the company’s directors.

During Niccol’s first week on the job, he outlined plans for the comeback in an open letter, making the commitment to get “back to Starbucks.” More details on how the chain planned to return to its roots followed in the ensuing months, from bringing back seating inside cafes to writing personalized messages on cups. Under Niccol’s leadership, the company’s marketing has shifted to focus on its coffee, rather than discounts and promotions.

When Starbucks announced Narasimhan’s firing and Niccol’s hiring, Schultz issued a statement of support, saying that the then-Chipotle CEO was the leader that the company needs. However, the Leadership Experience marks the first time that Niccol and Schultz have appeared publicly together.

During Narasimhan’s short tenure as CEO, Schultz did not mince words when the company’s performance fell short of his expectations. After a dismal quarterly earnings report, he weighed in publicly on LinkedIn, saying the company needs to improve its mobile order and pay experience and overhaul how it creates new drinks to focus on premium items that set it apart.

But Schultz said Starbucks’ problems went further than just operational issues and lackluster beverages and food.

“The culture was not understood. The culture wasn’t valued. The culture wasn’t being upheld,” he said on Wednesday.

This post appeared first on NBC NEWS

Keep Reading
Stock

10‑Year Yield Warning! ADX + RSI Point to a Major Shift

Stock 1 Min Read

Joe kicks off this week’s video with a multi‑timeframe deep dive into the 10‑year U.S. Treasury yield (TNX), explaining why a sideways coil just below the 5% level could be “downright scary” for equities. From there, he demonstrates precise entry/exit timingwith a combination of ADX, MACD, and RSI. Joe also covers the short-term divergence developing in the QQQ, takes a look at the IWM, and wraps up with some analyses of this week’s viewer symbol requests, including INTC, MU, and more.

The video premiered on June 11, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

Keep Reading
Investing

E-Power Resources Inc. Announces Flow-Through and Hard Dollar Private Placements to Fund Summer Work Program

Investing 5 Mins Read

E-Power Resources Inc (CSE: EPR) (FSE: 8RO) (‘E-Power’ or the ‘Company’) announces its intention to complete a flow-through non-brokered private placement to raise gross proceeds of up to $150,000 (the ‘FT Offering’). The Company will also complete a Hard Dollar Private Placement to raise gross proceeds of up to $50,000 (the ‘Hard Dollar Offering’).

Securities to be issued pursuant to the FT Offering shall consist of an amount of up to 3,000,000 units of the Company (the ‘FT Units‘) issued at a price of $0.05 per FT Unit, each FT Unit being comprised of one common share in the capital of the Company (each a ‘FT Share‘) that will qualify as ‘flow-through shares’ (within the meaning of subsection 66(15) of the Income Tax Act (Canada)), and one-half Warrant, each Warrant entitling its holder thereof to acquire one Share at a price of $0.10 per Share for a period of 5 years from the closing date of the FT Offering.

The Hard Dollar Offering units ‘Hard Dollar Units’ shall consist of 1,000,000 units of the Company issued at a price of $0.05 per Hard Dollar Unit. Each Hard Dollar Unit shall consist of one common share in the capital of the Company and one full Warrant, each Warrant entitling its holder thereof to acquire one Share at a price of $0.10 per Share for a period of 5 years from the closing date of the Hard Dollar Offering.

In connection with both the FT Offering and Hard Dollar Offering, the Company may pay cash finder’s fees and issue broker warrants. The securities issued in connection with the FT Offering and Hard Dollar Offering are subject to the applicable statutory four-month and one-day hold period.

Net proceeds from the FT Offering will be used by the Company to incur eligible ‘Canadian exploration expenses’ that will qualify as ‘flow-through mining expenditures,’ as defined in subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation Act (Quebec) (the ‘Qualifying Expenditures‘), related to the Company’s Tetepisca Graphite Property, located in the Tetepisca Graphite District of the North Shore Region of Quebec, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers to the FT Offering effective December 31, 2025. ‎ In addition, with respect to Quebec resident subscribers of FT Shares and who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the ‘exploration base relating to certain Quebec exploration expenses’ within the meaning of section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the ‘exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses’ within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (‘NI 45-106‘), the FT Shares and FT Units will be offered by way of private placement pursuant to applicable exemptions from NI 45-106. The FT Offering and Hard Dollar Offering are expected to close on or about June 20, 2025 (the ‘Closing Date‘), subject to the satisfaction or waiver of the customary closing conditions, including the approval of the Canadian Securities Exchange (‘CSE‘).

The securities to be offered pursuant to the FT Offering and Hard Dollar Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About E-Power Resources Inc.

E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec. Its flagship asset, the Tetepisca Graphite Property, is located in the Tetepisca Graphite District of the North Shore Region of Quebec, approximately 215 kilometers from the Port of Baie-Comeau. For further information, please refer to the Company’s disclosure record on SEDAR (www.sedarplus.ca) or contact the Company by email at info@e-powerresources.com.

On Behalf of the Board of Directors

James Cross
President & CEO
+1 (438) 701-3736
info@e-powerresources.com

Disclaimer for Forward-Looking Information

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are ‘forward-looking statements.’ These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255269

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

Keep Reading
Investing

Peter Krauth: Silver Price Running, Stocks Exploding — What’s Next?

Investing 1 Min Read

Peter Krauth, editor of Silver Stock Investor and Silver Advisor, outlines the factors driving silver’s recent price run, which has pushed the white metal to levels not seen in over a decade.

In his view, the current macroeconomic environment is combining with short supply and strong demand dynamics to create a ‘perfect storm.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Keep Reading
Investing

Nuclear Recharge: Eclipse and Oklo Pen Deals Amid Global Clean Energy Push

Investing 3 Mins Read

Energy sector innovators took center stage on Wednesday (June 11), with Eclipse Automation securing major deals in nuclear infrastructure, and Oklo (NYSE:OKLO) snagging a key US clean energy contract.

Eclipse Automation, part of Accenture (NYSE:ACN), has secured multiple contracts to design, manufacture and supply advanced automated tooling and equipment for upcoming CANDU nuclear reactor refurbishment projects.

The projects are at the Cernavoda plant in Romania and the Qinshan facility in China, and the agreements include automated inspection units, radioactive-handling systems, reactor-assembly tools and a remote-control center.

Based in Cambridge, Ontario, and backed by Accenture’s global footprint, Eclipse Automation is working to bolster nuclear safety and efficiency with cutting-edge technology.

“In the last decade, Eclipse has delivered automated solutions and equipment to support nuclear refurbishment work at the Embalse reactor in Argentina, and at the Darlington and Bruce nuclear generating stations in Canada,” said Steve Mai, CEO of Eclipse Automation, in the company’s press release.

Putting the ‘Can’ in CANDU

Canada’s CANDU (Canada deuterium uranium) reactors trace their origins back to the 1950s, with the first commercial unit, NPD, launching in 1962 using heavy water moderation and natural uranium fuel. Featuring pressure tubes and online refueling, CANDUs allow continuous operation, unlike light-water reactors that require shutdowns.

Today, 19 CANDU reactors operate in Canada, primarily in Ontario and New Brunswick, and over a dozen more are deployed abroad in South Korea, Romania, China, Argentina and India.

The design is prized for high reliability, clean power and the ability to burn natural uranium and alternative fuels.

Canada and other countries are now investing in life extensions and advancing next-generation designs like the Enhanced CANDU-6, the Advanced CANDU reactor and small modular reactors, supported by federal funding to sustain a domestic supply chain and global competitiveness.

Defense department eyes microreactors

Elsewhere, advanced nuclear company Oklo received a notice of intent to award from the US Department of Defense to deploy its Aurora microreactor at Eielson Air Force Base in Alaska.

The project, which will be led by the Defense Logistics Agency Energy, will serve as the Air Force’s pilot for enhancing energy resilience at remote sites. Under a long-term power purchase agreement, Oklo will design, build, own and operate the reactor, supplying both electricity and heat. The Aurora system uses fast reactor technology to deliver continuous, off-grid power — ideal for mission-critical infrastructure.

‘This Notice of Intent to Award reflects continued confidence in Oklo’s ability to deliver clean and secure energy solutions for mission-critical infrastructure,’ said Jacob DeWitte, co-founder and CEO of Oklo. ‘We are honored to support national defense resilience objectives while demonstrating the value of US-pioneered fast reactor technology.’

These contracts reflect a global resurgence in nuclear energy as countries look for ways to power their expanding grids with clean energy.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Keep Reading
Investing

FireFly Metals to Add AU$95 Million to Coffers With Equity Raising

Investing 3 Mins Read

FireFly Metals (ASX:FFM,TSX:FFM,OTC Pink:MNXMF) has attained firm commitments to raise up to about AU$95 million, giving it a total of AU$135 million for its multi-pronged growth strategy.

The company highlighted on Tuesday (June 10) that the equity financing will be completed via the issuance of approximately 94.7 million fully paid ordinary shares; it will receive around AU$1 per new share.

The funds will be raised via three transactions, with the first being an AU$11.2 million charity flow-through placement to Canadian investors. This will be followed by a AU$54.9 million two-tranche institutional placement, as well as a AU$28.8 million fully underwritten Canadian bought-deal offering with BMO Capital Markets.

Alongside the equity raising, FireFly is inviting shareholders to participate in a non-underwritten share purchase plan (SPP) that can potentially raise up to AU$5 million before costs.

Proceeds of the equity raising and the SPP will collectively be allotted to advance the Green Bay copper-gold project in Canada, including transaction costs and working capital.

Located in the Baie Verte district of Northeast Newfoundland on Canada’s east coast, Green Bay was acquired by FireFly in August 2023. Green Bay includes Ming underground mine, which was mined between 1972 and 1982, with activity restarting in 2012. Historic production totaled 6.7 million metric tons (MT) at 2 percent for 134,000 MT of copper.

Measured and indicated resources at Ming are at 21.5 million MT at 1.8 percent for 307,000 MT of copper equivalent, while inferred resources are at 28.4 million MT at 2 percent for 576,000 MT of copper equivalent.

FireFly began drilling at Ming in October 2023, completing 79 drill holes across 37,110 meters within a year.

“The overwhelming demand for the raising reflects the quality and growth outlook at Green Bay, our commitment to a multi-rig exploration campaign and the demand among global investors for top-shelf copper-gold projects,” said FireFly Managing Director Steve Parsons in the company’s press release.

He called the asset, alongside FireFly’s exploration team and AU$135 million in funding, “the ideal recipe for growth.”

FireFly states on its website that it will continue with its low-cost rapid resource growth strategy, with the underground exploration drill drive at the Ming deposit to be extended during this year.

The company debuted on the Toronto Stock Exchange in December 2024.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Keep Reading
Investing

Crypto Market Recap: Bitcoin Price Nears All-time High, ETF Approval Odds Rise

Investing 6 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (June 11) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$108,710, a slight decrease of 0.8 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$108,574 and a high of US$110,269.

Bitcoin price performance, June 11, 2025.

Chart via TradingView.

Bitcoin has surged over 10 percent since June 5, briefly reaching US$110,000 on Wednesday.

If Bitcoin breaks its US$112,000 all-time high, analysts believe it could make a rapid rise to US$114,000, with further gains predicted if momentum continues. Experts’ targets range from US$120,000 to US$150,000 in the short term, while long-term forecasts sit between US$1 million and US$2.4 million.

This week’s on-chain analysis from Glassnode shows a deviation from past bull markets, with long-term holders continuing to buy instead of selling. This points to growing institutional interest and a shift toward long-term thinking. Price swings are unusually low, suggesting a stable market, but moves could be sharp if demand shifts.

Ethereum (ETH) ended the day at US$2,810.96, a 1.6 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,796.60 and saw a daily high of US$2,870.74

Altcoin price update

  • Solana (SOL) closed at US$162.72, down 0.5 percent over 24 hours. SOL experienced a low of US$163.05 and reached a high of US$167.80 on Wednesday.
  • XRP was trading at US$2.29, down by 0.3 percent to its lowest valuation in 24 hours. The cryptocurrency reached a high of US$2.33 for the day.
  • Sui (SUI) was trading at US$3.42, showing a decreaseof 0.7 percent over the past 24 hours and its lowest valuation of the day. It peaked at US$3.51.
  • Cardano (ADA) closed at its lowest price of the day at US$0.7041, down 0.5 percent over the past 24 hours. Its highest valuation was US$0.7285.

Today’s crypto news to know

Experts make ETF approval calls

Bloomberg exchange-traded fund (ETF) analysts Eric Balchunas and James Seyffart are calling for a ‘potential Alt Coin ETF Summer,’ according to a note released on Wednesday.

“Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs,” an X post from Balchunas states.

They predict that the US Securities and Exchange Commission (SEC) could approve exchange-traded funds (ETFs) tracking broad crypto indexes by July. The SEC could also “act early on spot Solana and staking ETF filings” after REX-Osprey filed for Solana and Ethereum ETFs with staking components using a C-Corp structure on May 30.

Seyffart and Balchunas now place the approval odds of SOL and Litecoin ETFs at 90 percent. Spot Solana ETF approval odds also jumped to 91 percent on Wednesday on Polymarket.

Stripe to acquire Privy

Stripe has announced plans to acquire Privy, a specialized cryptocurrency wallet infrastructure developer, for an undisclosed amount in a deal signaling Stripe’s deepening involvement in the digital asset space.

Under the terms of the purchase, Privy will operate as a subsidiary within Stripe, focusing on providing infrastructure for developers engaged in building solutions on cryptocurrency rails. According to Privy’s announcement, this transition to Stripe’s umbrella will empower the company with “more resources, flexibility, and firepower.”

Privy’s core expertise lies in offering comprehensive infrastructure for companies involved in the development and management of digital asset wallets. Its tech enables millions of secure crypto wallets on a global scale.

This acquisition aligns with the broader trend of established financial institutions and tech giants integrating blockchain and cryptocurrency technologies into their portfolios.

Ukraine considers adding crypto to national reserves

The Verkhovna Rada, Ukraine’s parliament, received a draft bill on Tuesday (June 10) that proposes modifications to banking laws. These changes would permit the National Bank of Ukraine to incorporate cryptocurrencies into its reserves, standing alongside gold and foreign currencies. According to Yaroslav Zhelezniak, a member of parliament who confirmed the introduction of the bill via Telegram, bill 13356 would allow crypto to be included, but the central bank would retain full discretion over how much of its reserves to allocate to crypto and would not be required to add it.

Zhelezniak clarified in a video interview with Kyrylo Khomiakov, Binance’s regional head for Central and Eastern European countries and Central Asia, that while the draft bill has been introduced, the Ukrainian government isn’t pushing for cryptocurrency, but wants to keep pace with its increasing global usage.

“This story has the right to life, and, as we see, many countries are implementing it,” he said.

Bullish confidentially files for US IPO amid pro-crypto climate

Crypto exchange Bullish has confidentially filed for a US initial public offering (IPO), signaling renewed optimism in digital assets as Donald Trump’s administration ushers in a more crypto-friendly regulatory landscape.

Backed by billionaire Peter Thiel and led by former NYSE President Tom Farley, Bullish’s IPO plans mark a major comeback after its failed SPAC merger in 2021. The company’s move follows Circle’s (NYSE:CRCL) blockbuster US$1.1 billion IPO and coincides with a wave of new filings, including Gemini’s confidential application last week.

Jefferies is slated to lead underwriting for Bullish, though the bank has declined to comment.

Ondo brings tokenized US treasuries to XRP ledger

Ondo Finance has launched its tokenized short-term US Treasury product, OUSG, on the XRP Ledger (XRPL), using Ripple’s new RLUSD stablecoin for settlement. This marks the first time tokenized Treasuries are accessible on XRPL, allowing institutional investors to mint and redeem around the clock with instant settlement.

OUSG provides exposure to low-risk, short-term Treasuries and is already live on Ethereum and Solana, with a combined US$670 million in assets across chains. With US$30 million in total value locked already on XRPL, this expansion could significantly scale institutional DeFi on public ledgers.

Strategy hit with lawsuit over alleged misleading Bitcoin strategy

Strategy (NASDAQ:MSTR) is facing a class-action lawsuit alleging that the Michael Saylor-led firm misled shareholders about the risks of its Bitcoin-heavy investment approach.

Law firm Levi & Korsinsky filed the suit on Tuesday, calling on investors who bought shares between April 2024 and April 2025 to join the case, with a lead plaintiff deadline set for July 15.

The complaint cites the company’s recent US$5.91 billion unrealized loss due to Bitcoin’s volatility and claims executives downplayed risk while hyping upside potential. On April 7, the company dropped nearly 9 percent after disclosing a Q1 loss; by May 1, Strategy had formally admitted to the nearly US$6 billion hit.

A second lawsuit, filed by Anas Hamza, is also underway for alleged violations of the Securities Exchange Act.

Saylor has defended the firm’s strategy, arguing that its capital structure is resilient even in the face of a 90 percent Bitcoin crash. Strategy has not issued an official comment on the lawsuits.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Keep Reading
Politics

House advances Trump’s $9.4B spending cuts package targeting NPR, PBS, USAID to House-wide vote

Politics 3 Mins Read

President Donald Trump’s $9.4 billion spending cuts package survived a key hurdle on Wednesday afternoon, setting the measure up for a final House-wide vote later this week.

Trump’s proposal, which was introduced as legislation by House Majority Leader Steve Scalise, R-La., would cut $8.3 billion from the U.S. Agency for International Development (USAID), and just over $1 billion from the Corporation for Public Broadcasting.

The Corporation for Public Broadcasting distributes federal funding to NPR and PBS.

The House of Representatives made a procedural motion known as a ‘rule vote,’ which passed mostly along party lines. 

The rule passing now allows for debate on the $9.4 billion spending cut measure, followed by a final House-wide vote.

But it’s not atypical for House leaders to include unrelated measures in rule votes, as is the case with the spending cuts package – House GOP leaders included a provision with minor changes to Trump’s ‘one big, beautiful bill’ to account for the Senate needing to amend the bill.

That latter piece of legislation, a vast tax and immigration bill, is moving through the budget reconciliation process.

By dropping the Senate’s threshold for advancement from 60 votes to 51, it allows the party in power to skirt the minority – in this case, Democrats – on vast pieces of legislation, provided they adhere to a specific set of budgetary rules.

House GOP leaders said they needed to make the recent changes to the bill to better adhere to the Senate’s ‘Byrd Bath,’ when the Senate parliamentarian reviews the bill and removes anything not adhering to reconciliation guidelines.

Whereas that deals with the government’s mandatory spending processes that are more difficult to amend, the $9.4 billion spending cuts package tackles discretionary spending that Congress controls every year.

It’s called a ‘rescissions package,’ which is a formal proposal by the White House to claw back federal funds already allocated for the current fiscal year.

Like reconciliation, the mechanism allows for a 51-vote majority in the Senate rather than 60. Congress has 45 days to consider it, or it is deemed rejected.

Republican leaders have held up this rescissions package as the first step to codifying the billions of dollars of government waste identified by Elon Musk’s Department of Government Efficiency (DOGE).

Trump allies have also made clear they view this first package as a test of what kind of cuts congressional Republicans can stomach.

And while the rule vote was expected to pass, the bill could have trouble ahead of its expected Thursday afternoon vote.

Rep. Mark Amodei, R-Nev., pointed out in a bipartisan statement that the media funding represents less than 0.01% of the federal budget and said taking that money away would ‘dismantle a trusted source of information for millions of Americans.’

Rep. Don Bacon, R-Neb., told reporters on Tuesday that he got assurances that USAID cuts would exclude critical medical funding.

‘I feel better than what I was hearing last week, that was gonna be a total cut,’ he said, without revealing whether he would support the bill.

This post appeared first on FOX NEWS

Keep Reading
Politics

Democrat Congresswoman draws boos over ‘shameful’ sexism remark in committee hearing with Treasury Secretary

Politics 2 Mins Read

A House Ways and Means Committee hearing took an unexpected turn Wednesday when Rep. Linda Sanchez (D-CA) accused Treasury Secretary Scott Bessent of interrupting her because of her gender—prompting audible groans from the room.

The exchange occurred during a tense five-minute questioning session, where Sanchez challenged Bessent on the impact of tariffs enacted under President Trump’s administration.

‘Prices are rising on many everyday goods,’ Sanchez said, citing increases in clothing, shoes, canned food, toys, and household tools. She added, ‘On average, Trump’s tariffs are estimated to cost households $3,000 more for the same goods than they would have last year,’ though she did not cite the source of the figure when pressed.

When Bessent attempted to interject, Sanchez quickly cut him off: ‘Please don’t interrupt me… I know I’m a woman, but please try to limit yourself to answering my questions.’

That remark prompted groans from the hearing room, with one attendee audibly reacting, ‘Oh, come on.’ Sanchez responded: ‘No, I’m sorry, but we get talked over all the time, and I don’t want that to happen at this hearing.’

Bessent, who is openly gay, did not address the accusation and instead focused on defending the administration’s trade policies. 

When Sanchez challenged him on pricing impacts and China’s trade behavior, Bessent responded, ‘That’s incorrect,’ and said, ‘They met their agreements under President Trump in 2020, and President Biden did not enforce them.’

Sanchez repeatedly claimed that American consumers are paying more due to tariffs and described recent negotiations with China as rushed and lacking transparency. ‘A poorly negotiated trade deal with China is probably not worth the paper that it is written on,’ she said. ‘I was alarmed to hear this morning that Trump said the U.S.–China deal was done after just two days of talks in London.’

Bessent defended the agreement as an initial step. ‘The deal struck was for a specific goal, and it will be a much longer process,’ he said, adding, ‘China has proven an unreliable partner.’

The clash between Sanchez and Bessent was repeatedly moderated by Chairman Adrian Smith (R-NE), who reminded members of time limits and decorum throughout the hearing.

This post appeared first on FOX NEWS

Keep Reading