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Key Senate Republican thinks deal in the offing over FBI HQ location dispute

Key Senate Republican thinks deal in the offing over FBI HQ location dispute

Politico2 days ago
Senate Majority Leader John Thune says he will bring the first procedural vote to the floor Tuesday on the White House's request to claw back $9.4 billion in spending. It's not clear he has even the 51 votes necessary to start debate on the package.
Congress needs to approve the request before it expires Friday, or the administration will have to spend the money as lawmakers originally intended. That deadline is looming large as several GOP senators insist the administration clarify what spending it is actually seeking to rescind. They'll question President Donald Trump's budget director Russ Vought during senators' closed-door lunch Tuesday afternoon.
'We still are lacking the level of detail that is needed to make the right decisions,' Senate Appropriations Chair Susan Collins told reporters Monday evening. 'It's extremely unusual for any senator to not be able to get that kind of detailed information.'
The Maine Republican is concerned not just over the administration's proposal to scale down the global AIDS-fighting program PEPFAR, but also about broader cutbacks in overseas public health. Sen. Jerry Moran (R-Kan.) told POLITICO he's particularly interested in protecting funding for global food aid programs like Food for Peace and the McGovern-Dole International Food for Education and Child Nutrition Program.
It's increasingly evident the rescissions package will have to be changed in order to pass the Senate, and Thune told reporters as he left the Capitol on Monday that leadership is working with wary senators to 'see what a path forward on amendments looks like.'
Senate leaders expect a vote-a-rama on amendments to start Wednesday, teeing up a final vote late Wednesday or early Thursday. If senators are able to advance a package with tweaks, House GOP leaders plan to put the package on the floor Thursday; they have already started to clear away procedural hurdles that would prevent them from passing the spending cut proposal ASAP.
Throwing another wrinkle into it all, though, is that House GOP leaders don't want the Senate amending the package at all, knowing their members will be jammed with changes they don't like and be forced to choose between passing a watered-down product or missing the deadline to act.
'I think you got to respect the White House's request, and that's what we did, so I hope that's what we get back,' Speaker Mike Johnson told reporters Monday. 'There are two big categories of rescissions, and I'm not sure either of them should be subject to dispute.'
It's also unclear whether an amended rescissions package would even have the support in the Republican House. Fiscal hawks are already drawing red lines, with Rep. Ralph Norman (R-S.C.) going as far as telling POLITICO he won't support a rescissions package that is 'a penny less' than the House-approved version.
MEANWHILE, IN OTHER FUNDING FIGHTS — Senate appropriators remain at a standstill on moving a funding bill forward for the Commerce and Justice departments. They're trying to schedule a briefing with the FBI on the administration's rationale for abandoning the plan to move the bureau to suburban Maryland, according to Sen. Chris Van Hollen (D-Md.), whose stand against Trump's desire for a site in the District of Columbia derailed a markup of the bill last week.
But Van Hollen insists that even if the FBI assures senators that the Washington location is a secure site, he won't back off his attempt to block the administration from diverting about $1.4 billion that has been set aside for relocating the agency's campus to Maryland.
Across the Capitol: House Appropriations Chair Tom Cole said that House leaders began whipping votes Monday night as the chamber prepares to take its vote on the $831.5 billion defense appropriations bill later this week. While defense appropriations bills have been bipartisan in the past, Republicans are expecting this measure to be a largely party-line affair.
What else we're watching:
— Epstein meltdown: We'll see if Republican leaders' headache from their members over the DOJ's failure to release files related to Jeffrey Epstein continues. Rep. Norman voted Monday in favor of a Democratic amendment in the House Rules Committee that would have forced a floor vote on the DOJ releasing more materials from the federal case.
— Russia sanctions timeline: The bipartisan Russian sanctions bill might stall in the House and Senate after Trump announced secondary tariffs on countries trading with Russia. Thune said Monday he would hold off on advancing the bill for now. House Majority Leader Steve Scalise also said a vote could be delayed to post-August recess.
— Dems' last stand against a controversial Trump pick: Senate Democrats are making a final bid to draw the spotlight to a whistleblower's allegations that Emil Bove, a top Justice Department official and 3rd Circuit Court of Appeals nominee, urged defiance of the same judicial branch he is seeking to join. Democrats want the whistleblower, Erez Reuveni, to testify before senators prior to their confirmation vote on Bove, which is set for Thursday morning.
Jordain Carney, Katherine Tully-McManus, Jennifer Scholtes, Meredith Lee Hill and Cassandra Dumay contributed to this report.
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Reported birthday card from Trump to Epstein shines new light on their friendship as fallout from files release mounts
Reported birthday card from Trump to Epstein shines new light on their friendship as fallout from files release mounts

Yahoo

time13 minutes ago

  • Yahoo

Reported birthday card from Trump to Epstein shines new light on their friendship as fallout from files release mounts

Donald Trump reportedly helped celebrate Jeffrey Epstein's 50th birthday with a bawdy greeting accompanied by a hand-drawn image of a naked woman. A report from The Wall Street Journal on Thursday uncovers new details about the relationship between the president and disgraced financier and convicted sex offender, whose death and connections to Trump are at the center of a A letter bearing Trump's name, which was reviewed by The Journal, contains several lines of typewritten text framed by a drawing of a naked woman. His signature is a squiggly 'Donald' below her waist, mimicking pubic hair, according to the report. The letter concludes: 'Happy Birthday — and may every day be another wonderful secret.' In an interview with The Journal, Trump denied writing the letter or drawing the picture: 'This is not me. This is a fake thing. It's a fake Wall Street Journal story.' Donald Trump and Jeffrey Epstein pictured in 1992. A new report shed new light on the friendship between the two men (NBC News) 'I never wrote a picture in my life. I don't draw pictures of women,' he told the conservative-leaning newspaper, which is owned by Rupert Murdoch, who has over the years supported Trump. 'It's not my language. It's not my words,' Trump told the newspaper. A typewritten note styled as an imaginary conversation between Trump and Epstein, written in the third person, is reportedly included inside the outline of the naked woman. In the imagined conversation, Trump says 'we have certain things in common, Jeffrey,' to which Epstein replies, 'Yes, we do, come to think of it.' 'Enigmas never age, have you noticed that?' Trump writes, according to The Journal, which had reportedly reviewed pages from a leather-bound album of birthday cards examined by Department of Justice officials who investigated Epstein and his former girlfriend Ghislaine Maxwell, who was found guilty of child sex trafficking and other offences in 2022. The explosive revelation follows a disastrous week for the Trump administration as the president repeatedly tries to dismiss the so-called Epstein files as a Democratic 'hoax.' Thursday's revelations illustrate a closer than previously reported relationship between the president and Epstein, who was accused of sexually abusing dozens of minors before he was found dead in his jail cell in 2019. A Department of Justice memo on July 6 had effectively closed the case, affirming that no such 'client list' exists despite demands from Trump's supporters and allies for a full accounting of Epstein's death and alleged ties to a wider child trafficking conspiracy implicating powerful figures. On the campaign trail, Trump repeatedly promised to release FBI files related to Epstein, who was found dead in his jail cell on on August 10, 2019 while awaiting trial on sex trafficking charges. But the president's promises fell flat. Attorney General Pam Bondi, on Trump's directive, also promised to release the files, but after months of delays, the memo from the Justice Department and FBI said agencies would not be releasing any more documents relating to the case. Bondi had claimed the files were 'sitting on her desk' in February. She invited right-wing influencers to the White House for a photo-op at the end of that month, where they held up binders containing 'Phase 1' of the Epstein files, largely made up of already publicly available information about the case. Epstein died while in prison facing sex trafficking charges. While conspiracies have swirled about his 'client list,' Trump officials have recently said that no list exists () Bondi continued to stall. In May, she claimed there were 'tens of thousands of videos of Epstein with children or child porn,' which fueled further conspiracy theories that powerful people were being protected, and that 'Phase 1' binders were allegedly buying time. The administration's failure to release any other details about the investigation has been a major blow for Trump's supporters — including those within Trump's own administration. Deputy FBI director Don Bongino, who last year amplified conspiracy theories that Epstein was murdered, almost walked over the memo, according to reports. Trump has spoken out against those questioning him about the release of the Epstein files. (AP) While the White House likely hoped MAGA's fury would blow over quickly, outrage has only intensified. Frustrated, Trump lashed out at his supporters this week and reportedly complained in private that they won't 'shut the f*** up' about the Epstein files. Trump has spent several days publicly calling the Epstein case 'boring' and 'bulls***' as he questioned the loyalty of gullible 'weaklings' who demanded more from his Justice Department. 'Let these weaklings continue forward and do the Democrats work, don't even think about talking of our incredible and unprecedented success, because I don't want their support anymore!' Trump said in a Truth Social fury post. Even the White House has tried to temper the fury. 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'Well, I knew him like everybody in Palm Beach knew him,' Trump said on July 9, 2019, one day after Epstein's arrest. 'I mean, people in Palm Beach knew him. He was a fixture in Palm Beach. I had a falling out with him a long time ago. I don't think I've spoken to him for 15 years. I wasn't a fan.' Asked three days later what contributed to that 'falling out,' Trump said 'the reason doesn't make any difference, frankly.' One month later, Epstein was found dead in his cell at the Metropolitan Correctional Center in New York City.

Watch These Johnson & Johnson Price Levels After Stock's Post-Earnings Pop
Watch These Johnson & Johnson Price Levels After Stock's Post-Earnings Pop

Yahoo

time13 minutes ago

  • Yahoo

Watch These Johnson & Johnson Price Levels After Stock's Post-Earnings Pop

Key Takeaways Johnson & Johnson shares fell slightly Thursday after soaring yesterday amid investor optimism about the company's better-than-expected earnings and full-year outlook. The stock rallied above key moving averages and a symmetrical triangle in Wednesday's trading session, though it remains in a long-term trading range. Investors should watch crucial overhead areas on J&J's chart around $168 and $180, while also monitoring major support levels near $155 and $ & Johnson (JNJ) shares lost ground Thursday after soaring yesterday amid investor optimism about the company's better-than-expected earnings and full-year outlook. The healthcare giant also slashed its tariff cost forecast, saying it now expects about $200 million in import levy-related costs this year, down from its prior projection of $400 million. The outlook soothed investors' concerns about what impact Washington's trade policies would have on the company after President Donald Trump recently said that pharmaceutical tariffs could be as high as 200%. The drugmaker said its portfolio and pipeline position it for elevated growth in the second half of the year, adding that it anticipates approvals and submissions across a range of therapeutic areas. J&J shares fell 1% to close today's session at around $163, after surging 6% on Wednesday to pace Dow Jones Industrial Average advancers. The stock has risen 13% since the start of the year, outpacing the Dow's gain of less than 5%. Below, we break down the technicals on J&J's weekly chart and identify price levels worth watching out for. Close Above Key Moving Averages Although the 50-week moving average (MA) crossed below the 200-week MA in late 2023 to form an ominous death cross, J&J shares have remained mostly rangebound since that time. However, more recently, the price rallied above both of these moving averages and a symmetrical triangle in Wednesday's trading session. While the relative strength index confirms a positive shift in momentum, yesterday's jump occurred on lackluster volume, indicating that larger market participants may remain on the sidelines. Let's point out crucial overhead areas on J&J's chart to watch and also identify a couple of major support levels worth monitoring during future retracements. Overhead Areas to Watch Upon further buying, Investors should monitor how the price responds to the $168 area. This level may provide overhead resistance near prominent peaks in September last year and March this year that touch a trendline extending back to February 2021. A decisive volume-backed breakout above this area could trigger a rally toward $180. Investors who have accumulated shares at lower prices may look for exit points in this location near notable peaks that formed in the chart in August 2021 and December 2022, both of which lie just below the stock's all-time high. Support Levels Worth Monitoring During future retracements in the stock, investors should monitor the $155 level. This area, which sits just below the 50-week MA and the symmetrical triangle's top trendline, may encounter support near a horizontal line that links a range of corresponding trading activity on the chart stretching back to the April 2020 peak. Finally, a deeper pullback in J&J shares could see the price revisit lower support around $145. Investors may look for buying opportunities in this region near several troughs that developed on the chart between October 2023 and January this year, a level that marks the lower level of the stock's trading range over that period. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia 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

Jerome Powell defends $2.5B Federal Reserve renovation: ‘Good stewards of public resources'
Jerome Powell defends $2.5B Federal Reserve renovation: ‘Good stewards of public resources'

New York Post

time14 minutes ago

  • New York Post

Jerome Powell defends $2.5B Federal Reserve renovation: ‘Good stewards of public resources'

WASHINGTON — Federal Reserve chairman Jerome Powell defended his $2.5 billion headquarters renovation project near the National Mall Thursday — insisting that 'we take seriously the responsibility to be good stewards of public resources.' 'We have taken great care to ensure the project is carefully overseen since it was first approved by the Board in 2017,' Powell claimed in a letter to White House director of management and budget Russ Vought, even though the project is already about $600 million over budget Powell has faced a firestorm of Republican criticism over the lavish renovation — as President Trump demands that Powell consider resigning after refusing to lower interest rates. Advertisement The renovation project has given Trump and his allies a way to pressure Powell to either relax interest rates or resign under the weight of multiple investigations. 5 Federal Reserve chairman Jerome Powell described himself as a good steward of public resources Thursday. AP 5 President Trump has pressured Powell to resign after he refused to lower interest rates. Aaron Schwartz/POOL via CNP/ Advertisement Prominent Republicans this month said Powell, in office since 2018, could be prosecuted for allegedly lying to a Senate committee about luxury features including private VIP dining rooms and an outdoor terrace. Vought last week raised the prospect that Powell broke a different law if he told the truth to senators by virtue of making major changes without approval from the National Capital Planning Commission — setting up an apparent Catch-22 for the Fed chief. 5 The $2.5 billion construction project on the Fed's headquarters is only of the most costly US building projects ever. Getty Images Powell's reply to Vought seeks to absolve him of both perjury and illicit alterations by arguing he was honest with Congress and that changes were so minor they didn't require approval. Advertisement 'This information supports and further elaborates on my testimony of June 25, 2025, before the Senate Committee on Banking, Housing, and Urban Affairs,' Powell wrote. 'The project is large in scope because it involves the renovation of two historic buildings on the National Mall and that were first constructed in the 1930s… Both buildings were in need of significant structural repairs and other updates to make the buildings safe, healthy, and effective places to work.' Powell wrote 'the project is proceeding in accordance with the plan that the NCPC approved in September 2021. Since the plan's approval by the NCPC, the Board has made a small number of design changes to scale back or eliminate certain elements and has added no new elements.' 5 Powell argues he didn't lie to Congress or make illicit changes to approved plans. Getty Images Advertisement 'These changes were intended to simplify construction and reduce the likelihood of further delays and cost increases,' Powell argued. 'Guidance from the NCPC states that agencies should submit revised project information for approved projects only if substantial changes are made in either the design or plan of the project after NCPC review. The Board does not regard any of these changes as warranting further review.' Last month, Powell denied that the renovation amounted to a wasteful vanity project. 'There's no VIP dining room, there's no new marble. There are no special elevators,' Powell testified. 'There are no new water features, there's no beehives, and there's no roof terrace gardens.' Planning documents had called for each of those features. 'There are no VIP dining rooms being constructed as part of the project,' Powell wrote to Vought. 'The Eccles Building has historic multi-use rooms on the 4th Floor that are used as conference rooms and for mealtime meetings. These rooms are being renovated and preserved,' he wrote. 5 White House budget director Russ Vought told reporters Thusday that he and other official are demanding a site inspection. Getty Images Advertisement 'The Eccles and 1951 Constitution Avenue Buildings were originally built with marble in the façades and stonework,' he added. 'The project has salvaged the original exterior marble to be reinstalled and will use new domestic marble sourced from Georgia in places where the original was damaged or where needed to keep with historic preservation guidelines and to address concerns raised by external review agencies.' Powell went on: 'There are no special, private, or VIP elevators being constructed as part of the project. The original elevators of the Eccles Building are being rehabilitated, including an elevator that services historic conference rooms.' 'Although the Board's initial design included new water features for the 1951 Constitution Avenue building, they have been eliminated,' he wrote. 'Fountains that were original to the Eccles building are being restored.' Advertisement Powell also argued that a 'garden terrace' described in documents was actually a 'green roof' that's 'found on other federal government buildings.' The construction project is likely to continue to be a flashpoint as senior White House officials including Vought demand a site visit and critics claim it will rival the Palace of Versailles in inflation-adjusted construction costs. Powell has incurred Trump's wrath for refusing to lower interest rates this year despite inflation falling below 3%. The chairman argues that Trump's looming tariffs require restraint, keeping high the cost of loans for businesses, homebuyers, and consumers with car leases or credit balances. Trump last week stacked the five-member National Capital Planning Commission with three allies — his staff secretary Will Scharf, White House deputy chief of staff James Blair and OMB official Stuart Levenbach — in a further move to increase pressure. A Federal Reserve spokesperson said that they have no information to share on a possible site inspection.

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