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Fox News
26 minutes ago
- Fox News
Republican leading House Budget Committee looks ahead after passing Big Beautiful Bill
House Budget Committee Chairman Rep. Jodey Arrington, R-Texas, was praised for the role he played in the passage of the Big Beautiful Bill. However, the congressman says this is the beginning, not the end, of spending reforms. "We will never be able to get a balanced budget or even put our country on a path to a balanced budget and a sustainable fiscal trajectory in one reconciliation bill," Arrington told Fox News Digital. "We're too far down the broken road of bad and irresponsible fiscal behavior. We're too deep in the debt hole for one bill to do it." Arrington, whom House Speaker Mike Johnson called the "the lead budget hawk in the House," said he is "obsessed" with tackling deficit spending, which he sees as the biggest threat to America's future. He believes that addressing the nation's situation in an effective way means creating the "conditions for growing the economy." "So, the pro-growth policies, the tax cuts, the work incentives, opening up our energy assets and deregulating the energy economy, all of those pro- growth policies will reignite economic growth. And that is the foundation for our country's fiscal health and just about everything else: our military prowess, our global leadership, our way of life," Arrington said. The Big Beautiful Bill's journey to President Donald Trump's desk was not pretty, as the legislation received criticism from both sides of the aisle and caused tension among Republicans. Elon Musk, Rep. Thomas Massie, R-Ky., and others argued that it did not take adequate measures to cut government spending. Arrington said he respects Massie and Musk — as well as other critics — but believes that the risk of losing the "good things" in the bill was too high. In the end, the Texas lawmaker sees the tradeoff as "permanent pro-growth tax policy" in exchange for the extra spending in the legislation. "I think there's a big gap in information — and accurate information. Part of it is you've got the Congressional Budget Office putting out these big numbers… two and a half or three trillion dollars in additional deficit that would be added to the national debt over the 10-year budget window as a result of this bill. That is just patently false. It's completely inaccurate," Arrington said, adding that they fail to "consider economic growth and the revenue that will flow back into the treasury when you have pro-growth policies." Trump signed the bill on his self-imposed July 4 deadline, just one day after the House passed the final version of the $3.3 trillion legislation. Before signing the bill, the president said it would "fuel massive economic growth" and "lift up the hard-working citizens who make this country run." So, what's next on the budget chairman's agenda? Just one thing — or three, as he said to Fox News Digital, "spending cuts, spending cuts and spending cuts." "We didn't get into this mess overnight, we won't get out of it overnight, but we'll never get out if we don't start exercising the political will to do what we all say in our campaigns," Arrington told Fox News Digital. "I think we established a great model for restoring fiscal health, and we just have to continue to repeat it and do it in even more dramatic fashion in the future."
Wall Street Journal
26 minutes ago
- Wall Street Journal
How JPMorgan Is Playing the Private Lending Boom
JPMorgan Chase CEO Jamie Dimon says Wall Street's hottest trend is a recipe for a financial crisis, but he's investing billions to get in on it anyway. His plan: swoop in strategically and profit if there's a meltdown. Read more on how the nation's largest bank is playing the private-credit boom:
Yahoo
29 minutes ago
- Yahoo
Here's Why Omnicom (OMC) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike. Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term. Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks. New York-based Omnicom is one of the largest advertising, marketing, and corporate communications companies in the world. The company's networks, practice areas, and agencies offer a comprehensive suite of services across global, pan-regional, and local levels, spanning the following fundamental disciplines: Media & Advertising, Precision Marketing, Public Relations, Healthcare, Branding & Retail Commerce, Experiential, and Execution & Support. These disciplines are areas of professional expertise or service within the broader field of marketing, communications, and advertising. OMC sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is down 2.6% and up 4.7% over the past one-week and four-week period, respectively, and Omnicom has lost 22% in the last one-year period as well. Additionally, an average of 4,640,654 shares were traded over the last 20 trading sessions. A company's earnings performance is important for momentum investors as well. For fiscal 2025, two analysts revised their earnings estimate higher in the last 60 days for OMC, while the Zacks Consensus Estimate has increased $0.01 to $8.33 per share. OMC also boasts an average earnings surprise of 3.7%. OMC should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Omnicom Group Inc. (OMC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
