Senate Approves Trump's Demand To Claw Back Foreign Aid And Public Broadcast Funding
Senate Majority Leader John Thune, R-S.D., speaks to the press outside his office at the US Capitol ... More in Washington D.C. AFP via Getty Images
The rescissions package, which will claw back the $9 billion in funding, was approved with a 51-48 vote.
Sens. Lisa Murkowski, R-Alaska, and Susan Collins, R-Maine, were the only two GOP senators who voted against the bill while Sen. Tina Smith, D-Minn., was unable to vote as she had been taken to the hospital earlier in the day after she 'started to not feel well.'
The bill now moves to the GOP-controlled House, which is expected to pass it later this week.
The legislation agrees to claw back $1.1 billion in funding from the Corporation for Public Broadcasting—which helps fund public broadcasters like PBS and NPR—and around $8 billion from foreign aid programs.
This is a developing story.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
T-Mobile US Second Quarter 2025 Earnings: EPS Beats Expectations
T-Mobile US (NASDAQ:TMUS) Second Quarter 2025 Results Key Financial Results Revenue: US$21.1b (up 6.9% from 2Q 2024). Net income: US$3.22b (up 10% from 2Q 2024). Profit margin: 15% (in line with 2Q 2024). EPS: US$2.84 (up from US$2.50 in 2Q 2024). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period T-Mobile US EPS Beats Expectations Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.3%. Looking ahead, revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Wireless Telecom industry in the US. Performance of the American Wireless Telecom industry. The company's shares are up 9.0% from a week ago. Risk Analysis What about risks? Every company has them, and we've spotted 1 warning sign for T-Mobile US you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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
Yahoo
23 minutes ago
- Yahoo
Volkswagen CEO hopes for own tariff deal with 'attractive' investments
By Rachel More BERLIN (Reuters) -Europe's largest car manufacturer Volkswagen is hoping investment commitments can help it negotiate further concessions on U.S. tariffs once Washington and the European Union strike a broad trade deal, CEO Oliver Blume told investors on Friday. As they wait for the outcome of trade talks between the U.S. and the EU ahead of an August 1 deadline, European carmakers are also looking at possible investments or production shifts that might appease President Donald Trump and bring down tariffs. "We hope that it will come to a well-balanced deal between the U.S. and the EU, which allows fair trade between the regions," Blume told investors after reporting a second quarter impacted heavily by tariffs. Blume said he was expecting a 15% tariff for the EU, similar to one the Trump administration agreed with Japan earlier this week. That would replace a 25% tariff imposed by Trump on car and parts imports in April. An additional deal with Volkswagen would come on top of this, once the tariff row is ended, Blume said. Trump imposed a 25% tariff on car and parts imports in April. "We have a very attractive investment package we will do there," he said, adding that the company has been in "good discussions" with the U.S. government. Pressed by investors for details on possible U.S. investments, Blume spoke only of a "scalable programme," including projects with a clear business case. The executive also mentioned the possibility of opening a plant for Volkswagen's luxury brand Audi in the U.S., where the subsidiary currently has no production presence. While there are expectations that the EU can agree a 15% tariff, avoiding the 30% levy that would come into force on August 1 without a deal, French car parts supplier OpMobility said it was concerning that the EU acting as a bloc seemed unable to negotiate better terms than individual countries. "In the short term, we can probably say that we've avoided the worst, but that does not mean that it's a good deal, at the end of the day it shows that the relationship is unbalanced," CEO Laurent Favre said late on Thursday. Sign in to access your portfolio
Yahoo
23 minutes ago
- Yahoo
MACOM Completes Transfer of RTP Wafer Fab
LOWELL, Mass., July 25, 2025 (GLOBE NEWSWIRE) -- MACOM Technology Solutions Holdings, Inc. ('MACOM') (Nasdaq: MTSI), a leading supplier of semiconductor products, today announced it has assumed full operational control of the wafer fabrication facility it purchased, located in Research Triangle Park, North Carolina. This semiconductor wafer manufacturing facility produces highly specialized GaN-on-SiC process technologies for use in RF power devices and monolithic microwave integrated circuits (MMICs). Products manufactured at this site are typically used in telecommunication system infrastructure and defense electronics. The facility is an accredited United States Department of Defense Trusted Foundry. 'This transfer is occurring approximately six months ahead of schedule,' said Stephen G. Daly, MACOM's President and Chief Executive Officer. 'Our leadership and management team are focused on opportunities to improve the fab's performance and key operational metrics. The best results are yet to come.' About MACOMMACOM designs and manufactures high-performance semiconductor products for the Telecommunications, Industrial and Defense and Datacenter industries. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. MACOM has achieved certification to the IATF16949 automotive standard, the ISO9001 international quality standard and the ISO14001 environmental management standard. MACOM operates facilities across the United States, Europe, Asia and is headquartered in Lowell, Massachusetts. To learn more visit Special Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements. These forward-looking statements include, among others, statements about MACOM's strategic assets. These forward-looking statements reflect MACOM's current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those indicated by the forward-looking statements, including, among others, those factors described in 'Risk Factors' in MACOM's filings with the Securities and Exchange Commission ('SEC'), including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the SEC. These forward-looking statements speak only as of the date of this press release, and MACOM undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Company Contact:MACOM Technology Solutions Holdings, FerrantiVice President, Corporate Development and Investor RelationsP: 978-656-2977E: 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
