logo
The House is poised to OK Trump's $9 billion cut to public broadcasting and foreign aid

The House is poised to OK Trump's $9 billion cut to public broadcasting and foreign aid

Washington Post17-07-2025
WASHINGTON — The House is expected late Thursday to approve President Donald Trump's request to claw back about $9 billion for public broadcasting and foreign aid as Republicans target institutions and programs they view as bloated or out of step with their agenda.
The White House had described the package as a test case and said that if Congress went along, more would come. The House's approval would mark the first time in decades that a president has successfully submitted such a rescissions request to Congress, and even then the results were more mixed. Unlike other presidents, Trump is getting nearly all the cuts he requested.
Opponents voiced concerns not only about the programs targeted, but about Congress ceding its spending powers to the executive branch as investments approved on a bipartisan basis are being subsequently canceled on party-line votes. No Democrats supported the measure when it passed the Senate, 51-48, in the early morning hours Thursday. Two Republicans also voted no.
'We need to get back to fiscal sanity and this is an important step,' House Speaker Mike Johnson, R-La., told reporters.
The package cancels about $1.1 billion for the Corporation for Public Broadcasting and nearly $8 billion for a variety of foreign aid programs, many designed to help countries where drought, disease and political unrest endure.
The effort to claw back a sliver of federal spending comes just weeks after Republicans also muscled through Trump's tax and spending cut bill without any Democratic support. The Congressional Budget Office has projected that measure will increase the U.S. debt by about $3.3 trillion over the coming decade.
The cancellation of $1.1 billion for the CPR represents the full amount it is due to receive during the next two budget years.
The White House says the public media system is politically biased and an unnecessary expense.
The corporation distributes more than two-thirds of the money to more than 1,500 locally operated public television and radio stations, with much of the remainder assigned to National Public Radio and the Public Broadcasting Service to support national programming.
Democrats were unsuccessful in restoring in the Senate.
Lawmakers with large rural constituencies have voiced particular concern about what the cuts to public broadcasting could mean for some local public stations in their state.
Sen. Lisa Murkowski, R-Ala., said Tuesday that the stations are 'not just your news — it is your tsunami alert, it is your landslide alert, it is your volcano alert.'
Less than a day later, as the Senate debated the bill, a 7.3 magnitude earthquake struck off the remote Alaska Peninsula, triggering tsunami warnings on local public broadcasting stations that advised people to get to higher ground.
Sen. Mike Rounds, R-S.D., said he secured a deal from the White House that some money administered by the Interior Department would be repurposed to subsidize Native American public radio stations in about a dozen states.
But Kate Riley, president and CEO of America's Public Television Stations, a network of locally owned and operated stations, said that deal was 'at best a short-term, half-measure that will still result in cuts and reduced service at the stations it purports to save.'
Among the foreign aid cuts are $800 million for a program that provides emergency shelter, water and family reunification for refugees and $496 million to provide food, water and health care for countries hit by natural disasters and conflicts. There also is a $4.15 billion cut for programs that aim to boost economies and democratic institutions in developing nations.
Democrats argued that the Republican administration's animus toward foreign aid programs would hurt America's standing in the world and create a vacuum for China to fill.
Sen. Brian Schatz, D-Hawaii, said the amount it takes to save a starving child or prevent the transmission of disease is minuscule, even as the investments secure cooperation with the U.S. on other issues. The cuts made to foreign aid programs through Trump's Department of Government Efficiency were having life-and-death consequences around the world, he said.
'People are dying right now, not in spite of us but because of us,' Schatz said. 'We are causing death.'
After objections from several Republicans, GOP leaders took out a $400 million cut to PEPFAR, a politically popular program to combat HIV/AIDS that is credited with saving millions of lives since its creation under Republican President George W. Bush.
Democrats say the bill upends a legislative process that typically requires lawmakers from both parties to work together to fund the nation's priorities.
Triggered by the official rescissions request from the White House, the legislation only needs a simple majority vote to advance instead of the 60 votes usually required to break a filibuster. That meant Republicans could use their 53-47 majority to pass it along party lines.
In the end, two Republican senators, Murkowski and Sen. Susan Collins of Maine, joined with Democrats in voting against the bill, though a few other Republicans also raised concerns about the process.
'Let's not make a habit of this,' said Senate Armed Services Committee Chairman Roger Wicker of Mississippi, who voted for the bill but said he was wary that the White House wasn't providing enough information on what exactly will be cut.
Russ Vought, the director of the Office of Management and Budget, said the imminent successful passage of the rescissions shows 'enthusiasm' for getting the nation's fiscal situation under control.
'We're happy to go to great lengths to get this thing done,' he said during a breakfast with reporters hosted by the Christian Science Monitor.
In response to questions about the relatively small size of the cuts -- $9 billion -- Vought said that was because 'I knew it would be hard' to pass in Congress.
Vought said another rescissions package is 'likely to come soon.'
'But we're not there yet,' he said.
___
Associated Press writers Becky Bohrer in Juneau, Alaska, and Seung Min Kim contributed to this report.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Ultra Clean Holdings Inc (UCTT) Q2 2025 Earnings Call Highlights: Navigating Market Challenges ...
Ultra Clean Holdings Inc (UCTT) Q2 2025 Earnings Call Highlights: Navigating Market Challenges ...

Yahoo

time7 minutes ago

  • Yahoo

Ultra Clean Holdings Inc (UCTT) Q2 2025 Earnings Call Highlights: Navigating Market Challenges ...

Total Revenue: $518.8 million, compared to $518.6 million in the prior quarter. Product Revenue: $454.9 million, compared to $457 million last quarter. Services Revenue: $63.9 million, up from $61.6 million in Q1. Total Gross Margin: 16.3%, compared to 16.7% last quarter. Product Cost Margin: 14.4%, compared to 14.9% in Q1. Services Margin: 29.9%, compared to 29.8% last quarter. Operating Expense: $56.1 million, down from $59.4 million in Q1. Operating Margin: 5.5%, compared to 5.2% last quarter. Net Income: $12.1 million, compared to $12.7 million in the prior quarter. Earnings Per Share (EPS): $0.27, compared to $0.28 in the prior quarter. Cash and Cash Equivalents: $327.4 million, compared to $317.6 million at the end of last quarter. Cash Flow from Operations: $29.2 million, compared to $28.2 million last quarter. Share Repurchase: 182,000 shares at a cost of $3.4 million. Projected Q3 Revenue: Between $480 million and $530 million. Projected Q3 EPS: Between $0.14 and $0.34. Warning! GuruFocus has detected 6 Warning Signs with UCTT. Release Date: July 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Ultra Clean Holdings Inc (NASDAQ:UCTT) reported a slight increase in Q2 revenue, reaching $518.8 million, slightly above the previous quarter. The company has secured new business in its Czech Republic facility, expected to contribute to revenue growth in Q4. UCTT is focusing on new product introductions and component qualifications, which are anticipated to enhance margins starting in early 2026. The company is implementing cost reduction initiatives, including workforce reductions and organizational restructuring, which are expected to yield significant savings by Q4. UCTT is well-positioned to capitalize on the growing AI investment trend, supported by strong customer partnerships and a vertically integrated solutions portfolio. Negative Points The company is operating at a $2 billion run rate, below the anticipated $4 billion due to current market conditions. Tariff-related costs remain a concern, with customers slow to reimburse UCTT for incurred charges, impacting financials. The semiconductor market's uncertainty and limited visibility are affecting UCTT's revenue projections, with Q3 expected to range between $480 million and $530 million. Gross margins have slightly decreased, influenced by fluctuations in volume, mix, manufacturing region, and tariffs. A goodwill impairment charge was recorded due to a decrease in stock price, reflecting market uncertainty and impacting financial results. Q & A Highlights Q: What contributed to Ultra Clean Holdings' Q2 revenue exceeding the midpoint of guidance? A: Clarence Granger, Chairman and Interim CEO, explained that there was a slight upside from China, an increase in shipments from the Austin site, and a rise in services revenue. Q: Is the expectation for China revenue to improve in the second half of the year still valid? A: Clarence Granger confirmed that China revenue is expected to improve, with Q1 at $21 million and Q2 at $35 million. The company anticipates a consistent run rate of $40 million to $50 million per quarter from Chinese-based customers. Q: How does Ultra Clean Holdings view the potential impact of new AI rules on their China business? A: Cheryl Knepfler, VP of Marketing, stated that while there is always a risk, the company expects to continue selling to China as the areas they serve are broadly supported across the industry. Q: What is the outlook for Ultra Clean Holdings' revenue in Q4 2025? A: Clarence Granger indicated a cautiously optimistic outlook for Q4, with potential upward bias due to cost reductions, new business opportunities, and further integration of fluid solutions. Q: How does Ultra Clean Holdings view the potential for growth in 2026? A: Cheryl Knepfler mentioned that there are opportunities for incremental growth in 2026, with expectations for high single-digit to low double-digit growth, supported by new fabs coming online and share gains. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio

Kforce Inc (KFRC) Q2 2025 Earnings Call Highlights: Navigating Revenue Decline with Strategic ...
Kforce Inc (KFRC) Q2 2025 Earnings Call Highlights: Navigating Revenue Decline with Strategic ...

Yahoo

time7 minutes ago

  • Yahoo

Kforce Inc (KFRC) Q2 2025 Earnings Call Highlights: Navigating Revenue Decline with Strategic ...

Total Revenue: $334.3 million, a decline of 6.2% year over year. Earnings Per Share (EPS): $0.59, consistent with expectations. Gross Margin: Increased 40 basis points sequentially to 27.1%. Flex Revenue: Sequential growth in Technology and Finance and Accounting businesses. Direct Hire Revenue: Challenged and below expectations, representing approximately 2% of overall revenues. Average Bill Rate in Technology: $90, stable over the past three years. Average Bill Rate in Finance and Accounting: Approximately $54 per hour, improved sequentially and year over year. SG&A Expenses: 22.2% of revenue, increased 40 basis points year over year. Operating Margin: 4.5%. Effective Tax Rate: 24.6% for the second quarter. Capital Returned to Shareholders: $17.4 million through dividends and share repurchases. Operating Cash Flows: $18.4 million. Return on Equity: Exceeds 30%. Net Debt Levels: Approximately $67.5 million. Q3 Revenue Guidance: Expected to be in the range of $324 million to $332 million. Q3 EPS Guidance: Expected to be between $0.53 and $0.61. Warning! GuruFocus has detected 3 Warning Signs with KFRC. Release Date: July 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Kforce Inc (NYSE:KFRC) reported sequential flex revenue growth in both technology and finance and accounting businesses, indicating resilience in a challenging macroeconomic environment. The company is well-positioned to capitalize on the increasing demand for AI foundational readiness work, leveraging its expertise in technology and access to evolving skill sets. Kforce Inc (NYSE:KFRC) has successfully shifted towards consulting-oriented solutions, which have shown strong demand and contributed to stable margins and average bill rates. The company's development center in Pune enhances its ability to provide cost-effective solutions through a blended onshore, nearshore, and offshore model. Kforce Inc (NYSE:KFRC) has a strong client base, predominantly consisting of large, market-leading companies, which supports its long-term above-market performance. Negative Points Total revenues declined 6.2% year over year, with direct hire revenues particularly challenged due to macroeconomic conditions. The company experienced some unanticipated project ends, leading to a modest sequential decline expected in the technology business for Q3. Flex revenues in the finance and accounting business, although showing sequential growth, declined 16.8% year over year. Overall gross margins declined 70 basis points year over year due to higher healthcare costs and a lower mix of direct hire revenues. SG&A expenses as a percentage of revenue increased 40 basis points year over year, driven by deleverage from lower revenue levels and higher healthcare costs. Q & A Highlights Q: Can you discuss the levels of discussion around AI projects and when you expect demand to increase significantly? A: Joseph Liberatore, President and CEO, explained that most organizations are in the preparation phase for AI, focusing on foundational readiness in governance, data, cloud, and security. Only about 10% of organizations are fully equipped to leverage AI, mostly in the technology sector. There is significant opportunity in data organization and digital modernization, which will prepare companies to leverage AI in the future. Q: What is causing the early project ends in Tech Flex, and do you expect these projects to resume? A: David Kelly, Chief Operating Officer, noted that some projects ended unexpectedly due to clients reallocating investments to other technology projects. This was not a reduction in technology spend but a shift in focus. Despite these ends, the overall sentiment is stability, with consistent new assignments and project wins. Q: How would you characterize the current pipeline, and are companies holding off on legacy projects due to AI uncertainties? A: David Kelly stated that the pipeline remains strong, particularly in data and digital areas. Companies are not holding off on legacy projects due to AI but are looking for immediate returns amidst economic uncertainty. AI preparation involves years of work, and companies cannot afford to wait. Q: What has driven the sequential growth in the Finance and Accounting (FA) business, and is the repositioning complete? A: David Kelly highlighted the team's focus on higher skill sets and an executable model, moving away from administrative FA work. The average bill rate is now in the mid-50s, aligning with client needs. The repositioning appears complete, with recent sequential growth indicating stabilization. Q: Can you provide more details on the impact of nearshore and offshore dynamics on margins and hourly rates? A: David Kelly mentioned that while the nearshore and offshore presence is slightly accretive to margins, it is not yet significant enough to impact overall bill rates or margins. The focus is on supporting U.S. revenue, and the consulting-oriented engagements contribute to stability in bill rates and margins. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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

‘What The F**k?': Jon Stewart Stunned By 2 Words In Trump's Latest Epstein Denial
‘What The F**k?': Jon Stewart Stunned By 2 Words In Trump's Latest Epstein Denial

Yahoo

time7 minutes ago

  • Yahoo

‘What The F**k?': Jon Stewart Stunned By 2 Words In Trump's Latest Epstein Denial

'Daily Show' host Jon Stewart didn't find President Donald Trump very convincing in his latest attempt to downplay his association with late convicted sex offender Jeffrey Epstein. And it came down to two words. Stewart rolled footage of Trump in Scotland trying to deflect questions about his ties to Epstein, saying he had ended his friendship with Epstein because 'he did something that was inappropriate.' Stewart was ready to give the president some credit. 'You see, Donald Trump recognized that Epstein had finally crossed a line,' Stewart said. 'Now, if it were me, obviously giving this explanation in front of reporters, I probably would have stopped there.' But Trump didn't stop there. The 'inappropriate' behavior was Epstein hiring some of Trump's employees. 'He stole people that worked for me,' Trump complained. And Trump still didn't stop there. 'Here comes my favorite part of the defense,' Stewart said. 'Trump's ego and narcissism are so central to his being that even his denial of going to the island comes with a caveat.' Trump insisted he never visited Epstein's infamous private island linked to his sex trafficking ― but did so with those two unexpected words. 'I never had the privilege of going to his island,' Trump said. 'The privilege?' Stewart repeated. 'What the fuck?' Check out the full monologue below:

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store