Army says parade caused minimal damage to D.C. streets
Steve Warren, a senior Army spokesman, told reporters at the Pentagon that the figure encompasses attendance for the festival and the parade of military equipment on June 14 and comes from Secret Service data. But because there were separate security checkpoints for the festival and the parade grounds, it was not immediately clear whether people who attended both events were double-counted.
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Forbes
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- Forbes
Trump Said Gifted Qatari Jet Was ‘Free'—But Renovation Cost Could Reportedly Near $1 Billion
Topline The Pentagon appears to be using an over-budget missile project to pay for renovations to the jet Qatar controversially gifted to President Donald Trump earlier this year, according to a new report, despite the president arguing he accepted the plane because it was 'free.' Key Facts The Pentagon classified the cost of the renovations, but a recent $934 million transfer from the budget for a notoriously costly nuclear missile program, known as the Sentinel project, to an unnamed classified project has raised eyebrows that the maneuver was intended to pay for the plane renovations, The New York Times reported over the weekend. Air Force officials have said privately that Sentinel funds will be used to make upgrades to the plane so it can be used as an Air Force One, though it's unclear if the entirety of the $934 million transfer will go toward the renovations, according to the Times, which reported the Air Force said last week it couldn't discuss the cost of the plane because it's classified. Air Force Secretary Troy Meink told Congress in June the Defense Department believed the retrofit would cost $400 million, but engineers and Air Force experts have said the estimate appears low. The Times reported on the observation after Defense Secretary Pete Hegseth signed a memorandum of understanding with Qatar on July 7 stating the plane is an 'unconditional donation' to the Pentagon not to be 'interpreted or construed as, an offer, promise, or acceptance of any form of bribery, undue influence, or corrupt practice.' Trump accepted the 747-8 jumbo jet—which he plans to use as a new Air Force One then donate to his presidential library after leaving office—amid concerns Qatar could use the gift to solicit favor from the Trump administration. The president justified the gift by describing the plane as a 'GIFT, FREE OF CHARGE,' he wrote on Truth Social, and has also said he would be 'stupid' not to accept the jet. Why Did Qatar Give Trump The Plane? Despite Trump claiming the jet is a gift, the Trump administration approached Qatar about the plane after it was informed Boeing was behind schedule in delivering two new planes to be used as Air Force One, according to multiple reports, and likely wouldn't complete the jets until 2027 at the earliest, more than three years behind schedule. The jet was put on the market in 2020 as the Qatari royal family has sought to reduce its own private jet fleet. What Renovations Does The Jet Need? The plane, valued at $400 million, needs to be upgraded with modernized communication and technology systems, antimissile capabilities and an enhanced engine, according to the Times. It will also need to be inspected to ensure the Qataris didn't implant any spying devices. The upgrades are expected to begin imminently and take a year or two to complete. Where Is The Plane Now? In San Antonio, Texas. The plane was flown to a facility there, which the Times reported is known for secret technology projects, from Palm Beach International Airport when the U.S. formally accepted the gift in March. What Is The Sentinel Program? A project to replace and modernize the U.S. Air Force's Minuteman III intercontinental ballistic missile system of ground-based nuclear weapons. The project to replace the aging missiles—approximately 400 of them—has been fraught with costly delays. The Air Force initially told Congress the project would cost $77.7 billion, but the cost has since gone up to $140 billion, according to the Times. Key Background The jet gift raised bipartisan criticism of ethical concerns and the potential for espionage, while Trump's family business dealings in Qatar added another layer of concern. The Trump Organization announced plans in April to build a luxury golf resort in Qatar developed by a company owned by the Qatari government, the Associated Press reported previously. Further Reading Why The Qataris Are Happy To Dump Their 747 On Trump (Forbes) Republicans Question Trump's Plan To Accept Luxury Plane Gift From Qatar (Forbes) Qatar Airways Will Buy 210 Jets From Boeing — As Trump Awaits Qatar's 747 Gift (Forbes) Got a tip? Share confidential information with Forbes. Editorial Standards Reprints & Permissions
Yahoo
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Looking ahead to the race for Rhode Island attorney general
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I Asked ChatGPT How Trump's Tax Cuts Could Impact My Family Budget — Here's the Breakdown
President Donald Trump's One Big Beautiful Bill Act, which he signed on July 4, will impact millions of households, from their student loan repayments to their access to Medicaid and other social safety net programs. I, however, was most concerned with how the legislation's sweeping changes to U.S. tax law might impact my obligations to the IRS. Since my tax attorney charges by the quarter-hour for phone calls, I went with the next-best thing — ChatGPT. I asked the AI platform how Trump's tax cuts could impact my family budget. Here's what it told me. Find Out: Read Next: Many Households — Including Mine — Will Save Money The AI platform began with a bulleted list of benefits that will help many families lower their tax bill. It relied on sources such as the Bipartisan Policy Center and the Tax Policy Center to generate the section, which it titled, 'What You'll Likely Save.' This is its word-for-word synopsis of the potential savings for my family and others. Extended 2017 TCJA benefits — no major tax increases that were scheduled to take effect in 2026. Higher standard deduction — receives a $2,000 extra (married) or $1,000 (single) until 2028 on top of inflation adjustment. (CTC) — boosted to $2,500 per child through 2028, then reverts to $2,000. New tax benefits — exemption from federal tax on tips and overtime income (under $160K), a $40K state-and-local-tax (SALT) cap and a one-time $1K 'Trump account' per child. Learn More: Have a Little, Get a Little; Have a Lot, Get a Lot Next, my unofficial AI accountant used a Tax Policy Center analysis and a CBS News report to surmise that most families would see at least some benefit, with an average household tax bill reduction of $2,900 in 2026. However, it generated the following bulleted list, cited here verbatim, which showed that the 'haves' stand to gain more than the 'have-nots.' Bottom quintile households (≤ $35K income): ~$150 saved (~0.8% of income) Top quintile (≥ $217K income): ~$12,540 saved (~2.5%). Middle-income families fall in between, likely saving several hundred to a few thousand dollars annually. Taxes Aren't the Only Thing That Impact Family Budgets The platform then outlined how what it called the 'offsetting effects' of the tax cuts could shake up my family's — or anyone's — finances. This, too, is in ChatGPT's own words. Cuts to Medicaid, food stamps (SNAP) — billions in savings, but may reduce public benefits your family relies on. Reduced social safety nets — tougher work requirements; lower-income families could see net income decline despite tax cuts. Growing deficit — adds $3-$5 trillion to federal debt over 10 years, increasing future borrowing costs and potential for inflation/higher interest rates. Which Provisions Impact Which Families the Most? It included the following table to break down how different aspects of the legislation will impact different income groups. Income Level Estimated Annual Savings Key New Provisions Watch-Outs Low Income ~$150 Child Tax Credit, tip/overtime exemption Less SNAP/Medicaid Middle Income (~$50K-$100K) $500-$1,500 Standard SALT deduction bump, CTC, SALT cap Social cuts, inflation High Income (>$200K) $5K-$12K+ All above, plus SALT/ deduction benefits Future tax, interest pressure Make Your Situation as Big and Beautiful as Possible It concluded with a numbered list titled 'How To Maximize Benefits,' which outlined steps that my family and others can take to get the most out of the new changes. Use enhanced standard deduction — reduces taxable income directly. Claim full child tax credit if eligible — $2,500 per child. Take advantage of tip/overtime deductions — especially if you receive a lot of tips or extra hours. Monitor public benefits changes — if your household receives Medicaid or SNAP, check whether new work requirements or eligibility changes impact your budget. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 10 Genius Things Warren Buffett Says To Do With Your Money 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on I Asked ChatGPT How Trump's Tax Cuts Could Impact My Family Budget — Here's the Breakdown
