logo
Sen. Johnson predicts he has enough Senate allies to hold up the "big, beautiful bill"

Sen. Johnson predicts he has enough Senate allies to hold up the "big, beautiful bill"

Axios25-05-2025

Sen. Ron Johnson (R-Wis.), a fiscal hawk who has openly criticized House Republicans' reconciliation bill, predicted Sunday that there are enough in his flock to stop the process "until the president gets serious about spending reduction and reducing the deficit."
The big picture: Pushing President Trump 's " big, beautiful bill" through the House was far from a painless process, but the fiscal package now heads to the Senate, where the chamber is likely to make changes.
Johnson, who has not held back in his criticism of the bill championed by House Speaker Mike Johnson (R-La.), characterized the GOP-only legislation as "the Titanic" at a Politico event earlier this month.
Ron Johnson wants deeper cuts, and has repeatedly called for a return to pre-pandemic spending levels.
Driving the news: " This is the weekend we honor the service and sacrifice of the finest among us," Ron Johnson said on CNN's "State of the Union" Sunday, referencing the Memorial Day holiday. He added: "I don't think they served in sacrifice to leave our children completely mortgaged."
He called for his fellow lawmakers to be "responsible," contending the "first goal of our budget reconciliation process should be to reduce the deficit."
As he noted, the legislation — which aims to extend Trump's first-term tax cuts, among other priorities — would do the opposite.
The Congressional Budget Office estimates an increase in the deficit of $3.8 trillion for the 2026–2034 period.
The other side: House Speaker Johnson, also appearing on CNN Sunday to defend the bill, said such estimates are "dramatically overstated," arguing that the CBO does not do "dynamic scoring" and does not account for the growth he says will be fostered by the bill.
Asked about Ron Johnson's contention that the bill "will almost certainly add to our deficits and debt," the Louisiana Republican pointed to the wide range of opinion in his caucus and said, "we're doing the best we can with the vote numbers that we have."
Two House Republicans joined Democrats in voting "no" Thursday, while one voted present.
Yes, but: Ron Johnson said he agrees with independent deficit projections that show an increase of up to $4 trillion.
"You don't defeat the deep state by funding it," he said and added that the process for passing the bill — in order to hit Mike Johnson's Memorial Day goal — has been "rushed."
Mike Johnson told CNN's Jake Tapper the House was trying to get the work done on "a very aggressive timetable."
What we're watching: Asked how many of his fellow GOP senators he thinks share his concerns and would be willing to make major changes to the bill, Ron Johnson said "we have enough to stop the process."
Sen. Rand Paul (R-Ky.) echoed his Senate colleague's criticism, saying on "Fox News Sunday" that the spending cuts included in the House bill "are wimpy and anemic."
He continued that he "still would support the bill even with wimpy and anemic cuts if they weren't going to explode the debt."
Other senators, like Sen. Josh Hawley (R-Mo.), have expressed concerns about proposed in the bill.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Elon Musk Claims Trump's Name Is On The Epstein List, Taco Trump Threatens To End Phony Stark's Government Contracts
Elon Musk Claims Trump's Name Is On The Epstein List, Taco Trump Threatens To End Phony Stark's Government Contracts

Black America Web

time10 minutes ago

  • Black America Web

Elon Musk Claims Trump's Name Is On The Epstein List, Taco Trump Threatens To End Phony Stark's Government Contracts

Source: The Washington Post / Getty / Elon Musk / Donald Trump It should come as no surprise that the bromance between these two ego maniacs would have come to a fiery end. We knew this day would come, but no one had Musk and Trump beefing with each other so soon on their bingo cards. The alleged ketamine abuser couldn't keep his disdain for Trump's 'one big beautiful bill,' calling it a 'disgusting abomination.' 'I'm sorry, but I just can't stand it anymore,' Musk began. 'This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.' Trump was uncharacteristically quiet following Musk's initial comments about his legislative centerpiece of his second presidency, the 'one big beautiful bill.' That all changed when Trump finally 'clapped back' at Musk while taking questions during his meeting with German Chancellor Friedrich Merz. Trump said he was 'very surprised' and 'disappointed' by his former financier's comments about his stupid bill, claiming the Tesla chief saw the bill and understood its inner workings better than anybody, while suggesting that Musk was mad because of the removal of subsidies and mandates for electric vehicles. Elon Musk Had Time For Donald Trump Musk responded in real time via his 'former platform,' X, formerly Twitter, with a flurry of posts on X accusing Trump of 'ingratitude' and 'Without me, Trump would have lost the election,' while refuting the orange menace's claims. 'Keep the EV/solar incentive cuts in the bill, even though no oil & gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill,' Musk wrote. Oh, and he wasn't done. Musk then hit the president with a low blow, writing, 'Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!' Donald Trump Claps Back Trump finally fired back on his platform, Truth Social, by threatening to cut Musk's government contracts. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it.' Felon 47 wrote. Musk replied by threatening to decommission SpaceX's Dragon spacecraft, which could be detrimental to the International Space Station and NASA, as it is described as 'the only spacecraft currently flying that is capable of returning significant amounts of cargo to Earth' and can seat seven passengers. Musk also agreed with a post stating that Trump should be impeached and replaced by JD Vance. Oh, this is getting spicy. While all of this was going on, CNN reports that Tesla stocks took a hit and Musk's net worth shrank. Per CNN : Tesla shares plummeted 15% this afternoon as Elon Musk's battle with President Donald Trump intensified. Trump threatened in a social media post to target Musk's business empire. 'The easiest way to save money in our Budget, Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts,' Trump wrote on Truth Social. The Tesla selloff has wiped off more than $150 billion off the market value of Telsa, which started the day worth nearly $1.1 trillion. It has also erased a chunk off the net worth of Musk, the world's richest person. Social media has pulled up all the seats, grabbed some popcorn and are currently watching Musk go at with Trump and his supporters, you can see those reactions in the gallery below. Elon Musk Claims Trump's Name Is On The Epstein List, Taco Trump Threatens To End Phony Stark's Government Contracts was originally published on Black America Web Featured Video CLOSE

2 Reasons AMC Stock Is Soaring in June
2 Reasons AMC Stock Is Soaring in June

Yahoo

time11 minutes ago

  • Yahoo

2 Reasons AMC Stock Is Soaring in June

Memorial Day weekend set moviegoing records, and a lot of the sales went to AMC as the largest theater chain. With many expected hit movies slated for release, management thinks it's turned a corner. AMC stock is still down year to date and the company has a lot to prove. 10 stocks we like better than AMC Entertainment › AMC (NYSE: AMC) is the largest movie theater operator in the world, but being the leader in a troubled industry hasn't done much for the company over the past few years. With the advent of streaming and residual fears from the pandemic, moviegoing just isn't what it once was and AMC continues to struggle. However, Memorial Day weekend was a boon for the company and AMC stock has been climbing. Let's see why and what it means for the future. Streaming from home has taken a toll on the box office, but there is still life left in theaters. Four of the top 10 highest-grossing films ever were released since the pandemic started, including Avatar: The Way of Water in the No. 3 spot and last year's Inside Out 2. People are still going to the movies. That fact was reinforced with a record Memorial Day weekend in May. Disney's live-action remake of Lilo & Stitch had the highest-ever four-day Memorial Day opening, and it was buttressed by a strong showing for Paramount's Mission: Impossible -- The Final Reckoning. Altogether, these two topped a blowout weekend with $326.7 million in domestic ticket sales, and Lilo & Stitch is already the second-highest-grossing domestic film of the year. Of course, that success trickled down to generate incredible financial results for AMC. Management said it set an all-time record for admissions revenue, food and beverage revenue, and total revenue for a weekend Memorial Day opening, and that the five-day stretch was the third-highest revenue for any five-day slot in more than 10 years. As for attendance, this was the highest-attended weekend and highest-attended five-day period of the year, both domestically and globally. Management didn't provide specific financial metrics for the weekend, so investors aren't likely to hear the nitty-gritty details until the second-quarter earnings release sometime in July or August. But management's update and optimism are boosting investor confidence. It's nice for the company to have a solid, record-breaking opening, but can it last? Management thinks so, and the market may be pricing that in. CEO Adam Aron said that after this weekend, AMC has turned a corner. "With many more potentially huge movies coming in June all the way through the end of 2025, and beyond that deeply into 2026 as well," he said, "we firmly expect to be enjoying a robust theatrical box office as we look ahead." Here's what to be excited about. Disney has a full slate of films coming out over the next few years, including the third film in the Avatar series. The first two are the highest-grossing and third-highest-grossing films ever, and the next film is slated for release this coming December. It also has the next Frozen film and other top franchises coming out soon. Warner Bros. has its own expected hits coming out, including a new Superman, and Comcast's Universal Studios has the next installment of Wicked and a new Shrek. Sequels to popular franchises can be big business. But the company is still reporting revenue declines and losses as of the 2025 first quarter. It will take some time to see if AMC has indeed turned a corner. As the price has increased in June, so has the short interest in AMC, hitting almost 15% of all outstanding shares. These investors are betting on this being a short-term boost and that the price will fall from this surge. Even though AMC stock is up 29% over the past month, it's still down 15% year-to-date. Unless the company releases incredibly strong earnings for the second quarter and keeps up its performance, the price jump may not last. Part of what's frustrating about that for investors is that many variables are beyond the company's control. It's up to film producers to create hit movies that bring viewers into theaters and to make the decision to keep them there long enough before they hit streaming services. That can be quite lumpy. You need to have real confidence in the future of the film industry and the resilience of theaters as a beckoning call for die-hard fans to want to invest in AMC's future, and for most investors, that time isn't now. Before you buy stock in AMC Entertainment, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and AMC Entertainment wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor's total average return is 997% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Jennifer Saibil has positions in Walt Disney. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool recommends Comcast. The Motley Fool has a disclosure policy. 2 Reasons AMC Stock Is Soaring in June was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Johnson brushes off Musk campaign spending threats: ‘It doesn't concern me'
Johnson brushes off Musk campaign spending threats: ‘It doesn't concern me'

The Hill

time12 minutes ago

  • The Hill

Johnson brushes off Musk campaign spending threats: ‘It doesn't concern me'

House Speaker Mike Johnson (R-La.) in an interview Friday brushed off Elon Musk's campaign spending threats in light of the tech billionaire's public fallout with President Trump, suggesting he isn't worried. The spat between Trump and Musk began with the latter's criticism of the president's legislative agenda making its way through Congress. Johnson said he built a closer relationship with the then-special government employee and that the tech mogul has been led astray regarding the 'big beautiful' spending package. 'Look, it doesn't concern me. We're going to win either way because we're going to win on our policies we're delivering for hardworking Americans and fulfilling those promises,' Johnson told Fox News's 'Jesse Watters Primetime.' 'But look, I like Elon and respect him. I mean, we became friends in all this process,' he continued. 'I've been texting with him even this week … in trying to make sure that he has accurate information about the bill. I think he has been misled about it.' Musk, who contributed hundreds of millions of dollars to assist in Trump's win in the 2024 presidential election, was the biggest donor during the White House race. Amid his recent spat with Trump, which broke out in public as the two traded insults and threats, Musk argued that without his political expenditures, Trump would have lost to former Vice President Harris, Republicans would lose the majority in the House and the GOP would have failed to flip the majority in the Senate. Trump then threatened to have all federal contracts associated with the billionaire's companies to be cut off. As the fight between the two intensified, the tech executive floated the idea of forming a third party and accused the president of being named in the late Jeffrey Epstein's files. Trump has denied close ties to the disgraced financier. Musk's opposition to the GOP megabill — which he called a 'disgusting abomination' — is largely tied to deficit spending. The billionaire argued the legislation would balloon the national debt and fails to slash enough spending. The package faces an uphill battle in the Senate. While Musk, who recently left his position as the top adviser to Trump's Department of Government Efficiency (DOGE), seemed open to repairing ties on Friday, the president appeared to be OK with moving on. Johnson in the interview Friday defended the spending bill and commended Trump for his handling of the squabble. 'We're going to make good on this… I like the president's attitude. You know, he is moving on. He has to,' he told the host. 'He's laser-focused on delivering for the people. And House and Senate Republicans are as well. So, we've got our hand at the wheel.' 'We're going to get this done just like we told the people,' the Speaker continued. 'And if you are a hardworking American that is struggling to take care of your family, you are going to love this legislation.' The Louisiana Republican added, 'I'm telling you, all boats are going to rise and everybody's going to be in a much better mood before we go into that midterm election in 2026.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store