'The GOP owns this now.' Republican senators blast Trump tax bill, tease uphill battle for legislation in Senate
House Republicans narrowly passed President Trump's budget megabill. But the legislation still faces a rocky road in the Senate, where multiple GOP lawmakers are calling for significant rewrites. Susan Glasser, Angelo Carusone, and Joyce Vance discuss on The 11th Hour.
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Boston Globe
29 minutes ago
- Boston Globe
Today in History: June 16, Valentina Tereshkova becomes first woman in space
Advertisement In 1903, the Ford Motor Company was incorporated in Detroit, Mich. In 1963, the world's first female space traveler, Valentina Tereshkova, 26, was launched into orbit by the Soviet Union aboard Vostok 6. Tereshkova spent 71 hours in flight, circling the Earth 48 times before returning safely. In 1976, thousands of Black students in Johannesburg's Soweto township demonstrated against the imposition of the Dutch-based Afrikaans language in schools; police opened fire on the students, killing at least 176 and as many as 700. In 1978, President Jimmy Carter and Panamanian leader Omar Torrijos signed the instruments of ratification for the Panama Canal treaties during a ceremony in Panama City. In 2015, real estate mogul President Trump launched his successful campaign for the presidency of the United States with a speech at Trump Tower in Manhattan, N.Y. Advertisement In 2016, Walt Disney Co. opened Shanghai Disneyland, its first theme park in mainland China. In 2022, witnesses testified to the Jan. 6 committee that President Trump's closest advisers viewed his last-ditch efforts to pressure Vice President Mike Pence to reject the tally of state electors and overturn the 2020 election as 'nuts,' 'crazy,' and even likely to incite riots.
CNN
31 minutes ago
- CNN
Here's what protesters say brought them out to ‘No Kings' events across the country
'They don't understand anything about the fact that we all are kings and not him.' That's part of why George Atkinson, a former high school government teacher, felt compelled to join a protest in downtown Houston on Saturday. The 89-year-old affixed a sign to his walker that read, 'The clothes have no emperor! He's all hat and no cattle!' Atkinson told CNN he's been 'opposed to fascism all my life.' 'I was a high school government teacher, and these people's kids would have failed my course, the people who support Trump,' he said. The event was one of more than 2,000 'No Kings' rallies held across the country on Saturday, protesting what organizers call 'authoritarianism, billionaire-first politics, and the militarization of our democracy.' Tens of thousands of people showed up for the rallies – including more than 50,000 in New York and more than 20,000 in Los Angeles, officials in those cities said. The events coincided with a military parade in Washington, DC, to celebrate the 250th anniversary of the US Army, which was also President Donald Trump's 79th birthday. The protests were largely peaceful, and many were planned and permitted with local authorities. They follow over a week of protests against immigration enforcement in Los Angeles, which prompted the president to take the rare step of federalizing the National Guard and deploying Marines. Similar demonstrations have since popped up across the country. CNN field teams spoke with attendees at rallies across the country. Here's what protesters had to tell us: At demonstrations across the country, protesters emphasized the importance of democracy – an institution they fear is eroding with Trump's attempts to expand executive power. 'What's happening right now is the beginning of a long slide into autocracy,' Stephen Nunez told CNN at a protest in New York. 'For years, people have been saying we've been overreacting, and we're not overreacting,' he said. 'This is what's happening. We can see it. There are people being assassinated. There are Democratic legislators being arrested. We have Marines in the streets in Los Angeles doing things that they're not supposed to be doing.' 'And enough is enough,' he went on. 'We have to make a stand right now.' In Atlanta, crowds chanted 'No kings in America!' and carried American flags and signs, including one that said, 'Our vets did not fight for fascism.' In Philadelphia, demonstrator Randi Weingarten, president of the American Federation of Teachers, said, 'On this day, where we celebrate the flag, where we celebrate America, we are fighting for democracy.' 'The throughline in America is that the people are governed not by a king, not a tyrant, not nobility, but the people.' Weingarten said Philadelphia was a particularly meaningful location for the march because of its historical importance as the city where the Founding Fathers signed the Declaration of Independence. 'That's why I wanted to be in Philadelphia today, because we have to summon up what the framers and the founders said so many years ago when they said, 'No taxation without representation' and 'No, no King George, you don't rule us,' she said. Debbie Whaley, a protester in Los Angeles, told CNN she moved to the United States from London when she was 10. 'I came from a country of kings,' she said. 'I didn't come here for another one.' Whaley said she's been participating in protests since she marched against the Vietnam War in 1960s. 'I'm here for democracy,' she said. 'I'm here because I'm frightened of how we are traveling in this country. But my anger supersedes my fear.' One attendee chose to make his message clear with style: Dennis Hannan attended a demonstration in Philadelphia dressed as Elvis, saying he's 'the only American king.' 'We're here to downplay the other kings,' he said. He added attending the rally was important to him because 'I'm a father of three girls. I'm a grandfather of four boys and a girl, and I want them to be brought up in America, where they have equal rights, equal say.' Many demonstrators called out the military parade itself, criticizing the use of taxpayer dollars for the event – which is estimated to have cost around $45 million. 'We need that money in other places,' said Renee Hall-George, a social worker who attended a protest in Atlanta. 'How about funding education? How about feeding people? How about offering health care?' Alizah Brozgold, who braved the rain to attend a rally in New York, said, 'The military parade disgusts me.' 'It's a huge amount of wasted money,' she told CNN. 'I hope it pours on his parade.' There was some light drizzling at the Washington event, although the proceedings didn't seem to be affected. The president had said the parade would go on 'rain or shine.' Others decried the apparent message of the event, which saw a massive amount of military hardware and personnel paraded through the nation's capital, including 28 Abrams tanks — weighing 70 tons each. 'Trump is doing it just to make himself feel bigger and better and to also threaten us, like to have the military go through the streets of our country,' Lyn Stubbs, a social worker who attended a protest in Atlanta, said. 'It feels like a threat to me, like he's saying, 'don't speak up. Don't stand out.'' Jon Cutler, a veteran who said he served 32 years in the Navy, said the parade made him feel 'very angry.' He compared the display to military parades in Korea and Russia. 'Even Eisenhower said we will not have these military parades after World War II, because, again, the law is above any individual,' he told CNN at a demonstration in Philadelphia, wearing his Navy uniform. 'I think it sets a bad precedent.' Many protesters connected their attendance to the ongoing immigration crackdown and the federal government's forceful response to anti-ICE protests in Los Angeles. Maria Rodriguez told CNN she is a 'Dreamer' – a beneficiary of an Obama-era policy that protects undocumented immigrants brought to the United States as children. 'I love everything that America represents, and I know that what's going on right now, this is not the definition of America,' Rodriguez told CNN at a demonstration in Los Angeles. She came to the United States when she was 5, she said. 'I know I am an American.' She added she was particularly inspired to join the day's protest after seeing the arrest of David Huerta, a California union leader, at a protest against immigration raids in Los Angeles, as well as seeing US Rep. Maxine Waters be denied access to an immigration detention facility when she went to speak with Huerta. 'Everything needs to stop to be here, to fight for what's right, to stand up for our rights,' she said. 'We all need to be here to speak up and to let Donald Trump know – and everyone that supports Donald Trump – that this is not right.' Victoria Carfi, a college student visiting Philadelphia on vacation, told CNN she was motivated to attend because her parents are immigrants. The ongoing federal immigration blitz is 'really stressful,' she said. 'It makes it a lot more personal for me, because a lot of people who don't have immigrants in their family feel a bit more removed from it,' she said. 'It could be my parents. It could be your neighbor. And I really wish people were a bit more compassionate to that.' She held a sign that said 'Ice in my margarita, not my streets,' an attempt to bring 'a little bit of, like, a light-hearted take' on a 'very serious topic.' Hannan, the demonstrator dressed as Elvis, called immigration the 'most important issue right now.' 'I think Donald Trump has lost his mind with immigration,' he told CNN. 'You know, without immigrants, we wouldn't all be sitting here today.' Daniela Palma-Saracho, a self-described daughter of immigrants, held a sign reading, 'You can't admire the flowers and ignore the hands that harvest them' at a protest in Los Angeles. 'To me, that's powerful, because a lot of people want to admire our community, our culture, and don't want to recognize the people that (are) actually making things happen,' she said. She attended the rally alongside her parents and said it was their first time at a major protest. Rigo Ortega, another protester in Los Angeles, told CNN he was there to 'support the people without voice, people who cannot vote, people who is being deported, leaving kids alone in their houses.' 'The way Trump is doing his ICE raids is not fair to my point of view,' he said. 'So we're trying here to support the people who cannot be here because they're afraid to do it.' Other protesters spoke about the importance of protecting marginalized populations who they say are under attack. John Nicks told CNN he was 'tired of Trump destroying Medicaid and all social services to hurt the marginalized and disabled people like myself.' 'There's so much stuff in this big bill, 'beautiful bill' that he calls it, that's going to hurt disabled individuals like myself,' Nicks told CNN at a rally in Houston, referring to a giant domestic policy bill that has attracted criticism for its proposed cuts to Medicaid and other social services. Nicks uses a wheelchair and experiences multiple disabilities, he told CNN. 'What Trump wants to do … is mess with everything for the disabled and marginalized,' he said. Marta Schaaf-Gloria, who attended a protest in New York, said she was motivated by what 'we've seen that Congress has done with regard to regulation of environment, regards to drilling and financing of fossil fuels, subsidies and tax dollars going to the fossil fuel expansion.' 'I think it's really important that we show this regime, this administration, that the American people are against the authoritarian power,' she said. CNN's Gloria Pazmino and Carolyn Sung reported from New York; Sabrina Souza and Leigh Waldman reported from Philadelphia; Michael Yoshida and Amber Sumpter reported from Los Angeles; Brian Todd and Aileen Graef reported from Washington, DC; Rafael Romo and Maxime Tamsett reported from Atlanta; Ashley Killough and Ed Lavandera reported from Houston; and Zoe Sottile wrote from New York.
CNET
39 minutes ago
- CNET
Refinance Rates Slide Down Again: Current Refinance Rates on June 16, 2025
Average mortgage refinance rates have been volleying between 6.5% and 7% as fears of both higher inflation and an economic slowdown play tug-of-war with financial markets. Overall, rates are too high for most homeowners to save money from refinancing. After three interest rate cuts last year, the Federal Reserve has left rates unchanged in 2025 to assess the economic fallout from President Trump's policies on trade, immigration and government spending. While the Fed is expected to resume lowering interest rates this summer, a major refinancing boom is unlikely if average rates stay above 6% — which most economists and housing market experts predict. However, if you're looking to change the length of your loan or switch to a different type of mortgage, refinancing might still be something to consider. Keep in mind that mortgage refinance rates change daily based on a range of economic and political factors. For expert predictions on where rates might be headed, check out our weekly mortgage rate forecast. When mortgage rates start to fall, be ready to take advantage. Experts recommend shopping around and comparing multiple offers to get the lowest rate. Enter your information here to get a custom quote from one of CNET's partner lenders. About these rates: Bankrate's tool features rates from partner lenders that you can use when comparing multiple mortgage rates. Today's refinance rate trends At the start of 2025, many expected inflation to keep cooling down and the Fed to cut interest rates, which would have gradually lowered mortgage refinance rates. However, stronger-than-expected inflation and uncertainty about Trump's economic policies have changed those predictions. Even with some brief dips, mortgage rates and overall financing costs have remained stubbornly high. Investors are concerned that the president's plans for widespread tariffs, mass deportations and tax cuts could significantly increase the government's debt and fuel inflation while also driving up unemployment. Where will refinance rates end up in 2025? Most housing forecasts still call for a modest decline in mortgage rates by the end of the year, with average 30-year fixed rates potentially edging below 6.5%. But even when the central bank resumes policy easing, experts say homeowners shouldn't expect rates to fall in tandem with the Fed's benchmark federal funds rate. While the central bank's policy decisions influence how much consumers pay to borrow, the Fed doesn't directly control the mortgage market. For refinance rates to fall meaningfully, we'd likely need to see several Fed cuts coupled with clearer signs of a slowing economy, like cooler inflation or higher unemployment. It usually takes time for these broader interest rate adjustments to show up in the rates lenders then offer to consumers. What to know about refinancing When you refinance your mortgage, you take out another home loan that pays off your initial mortgage. With a traditional refinance, your new home loan will have a different term and/or interest rate. With a cash-out refinance, you'll tap into your equity with a new loan that's bigger than your existing mortgage balance, allowing you to pocket the difference in cash. Refinancing can be a great financial move if you score a low rate or can pay off your home loan in less time, but consider whether it's the right choice for you. Reducing your interest rate by 1% or more is an incentive to refinance, allowing you to cut your monthly payment significantly. But refinancing your mortgage isn't free. Since you're taking out a whole new home loan, you'll need to pay another set of closing costs. If you fall into that pool of homeowners who purchased property when rates were high, consider reaching out to your lender and running the numbers to see whether a mortgage refinance makes sense for your budget, said Logan Mohtashami, lead analyst at HousingWire. How to find the best refinance rates The rates advertised online often require specific conditions for eligibility. Your personal interest rate will be influenced by market conditions as well as your specific credit history, financial profile and application. Having a high credit score, a low credit utilization ratio and a history of consistent and on-time payments will generally help you get the best interest rates. 30-year fixed-rate refinance The average 30-year fixed refinance rate right now is 6.90%, a decrease of 5 basis points over this time last week. (A basis point is equivalent to 0.01%.) A 30-year fixed refinance will typically have lower monthly payments than a 15-year or 10-year refinance, but it will take you longer to pay off and typically cost you more in interest over the long term. 15-year fixed-rate refinance The average 15-year fixed refinance rate right now is 6.16%, a decrease of 7 basis points from what we saw the previous week. Though a 15-year fixed refinance will most likely raise your monthly payment compared to a 30-year loan, you'll save more money over time because you're paying off your loan quicker. Also, 15-year refinance rates are typically lower than 30-year refinance rates, which will help you save more in the long run. 10-year fixed-rate refinance The current average interest rate for a 10-year refinance is 6.14%, a decrease of 1 basis points from what we saw the previous week. A 10-year refinance typically has the lowest interest rate but the highest monthly payment of all refinance terms. A 10-year refinance can help you pay off your house much quicker and save on interest, but make sure you can afford the steeper monthly payment. To get the best refinance rates, make your application as strong as possible by getting your finances in order, using credit responsibly and monitoring your credit regularly. And don't forget to speak with multiple lenders and shop around. Reasons to refinance Homeowners usually refinance to save money, but there are other reasons to do so. Here are the most common reasons homeowners refinance: To get a lower interest rate: If you can secure a rate that's at least 1% lower than the one on your current mortgage, it could make sense to refinance. If you can secure a rate that's at least 1% lower than the one on your current mortgage, it could make sense to refinance. To switch the type of mortgage: If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage. If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage. To eliminate mortgage insurance: If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity. If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity. To change the length of a loan term: Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run. Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run. To tap into your equity through a cash-out refinance: If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense. If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense. To take someone off the mortgage: In case of divorce, you can apply for a new home loan in just your name and use the funds to pay off your existing mortgage.
