
As the Texas legislative session ends, a look at major bills and changes that impact you
Property tax relief
Texas Senators celebrated the additional $10 billion in relief from school property taxes this year that they and lawmakers in the House passed this session. That's on top of the record property tax cuts from two years ago.
The homestead exemption for most Texas homeowners will rise from $100,000 to $140,000. For people over 65, the homestead exemption will increase to $200,000, and local leaders say many seniors won't end up paying school property taxes at all. Exemptions for business property taxes will also increase from $2,500 to $125,000 next year.
"Every session we have been here, we have done historic, not just big things, historic things to create property tax relief for Texans," said Republican State Sen. Angela Paxton of McKinney.
Governor Greg Abbott will sign the bills, which he considered one of this top priorities. In November, residents will have the final say by voting to make it permanent in the Texas Constitution.
Public school funding
Another priority bill headed to the Governor's desk will inject a record $8.5 billion in new money for the state's public schools.
About half of that, $4.2 billion, will go to permanent pay raises for teachers with three or more years of experience. The legislature is also sending school districts an extra $500 million dollars to give pay raises to entry-level teachers and non-administrative staff.
State Rep. Brad Buckley of Salado said, "A guarantee for public school teachers that is unprecedented, not really, it is unprecedented. It is unprecedented in this state."
Lawmakers also approved legislation to crack down further on disruptive students and allow local school boards and parents to have more control over the books in public school libraries.
Bringing the bible to the classroom
Also passed in this session: voluntary prayer in schools and requiring school districts to display a poster or framed copy of the Ten Commandments in every classroom.
Texas Republican Rep. Candy Noble said, "Nothing is more deep-rooted in the fabric of our American tradition of education than the Ten Commandments; the way we treat others as a society comes from the principles found in the Ten Commandments."
"I just think if I were giving a speech, I would say it just seems like we're trampling over the freedom of religion by passing your bill," said Democrat State Rep. Vikki Goodwin of Austin.
The ACLU of Texas is one of the organizations promising to challenge the law in court.
Film industry incentives
The state is also providing $1.5 billion in incentives over the next decade to attract television and film production to better compete against other states.
Big Hollywood names, including Matthew McConaughey and Woody Harrelson, spoke during the session in favor of Texas Senate Bill 22.
Taylor Hardy, the Fort Worth Film Commissioner, stated that the bill would bring jobs to Tarrant County, boost business for local hotels and restaurants, and ultimately attract more visitors.
"Since the Fort Worth Film Commission was founded about 10 years ago, we've measured $700 million in economic impact and over 30,000 jobs supported. Those are over a period of time, but that's almost the equivalent of another American Airlines headquarters in terms of the amount of jobs it's created," Hardy told CBS News Texas.
Bail reform
Another priority of Governor Abbott's is headed to his desk: bail reform.
It requires judges to deny bail in more criminal cases and allows prosecutors a chance to appeal judges' decisions on bail.
"This is common sense," Abbott said previously when speaking about the bill. "You pass this bill, pass this constitutional amendment, lives will literally be saved. You fail to pass this; more people are going to be murdered. This has to get done."
Residents will also have to vote in November to change the Texas Constitution, which will force judges to deny bail for those accused of murder and other violent crimes.
Texas' near abortion ban
Lawmakers also passed legislation that will clarify medical exceptions to the state's near abortion ban.
The changes would not expand abortion access in Texas or list specific medical exceptions under the state's near-total ban, which took effect in 2022 and only allows for an abortion to save the life of the mother. It also would not include exceptions for cases of rape or incest.
The bill would specify that doctors cannot face criminal charges for performing an abortion in a medical emergency that causes major bodily impairment. It also defines a "life-threatening" condition as one capable of causing death.
THC products ban
And in what has turned out to be a very controversial bill, the state will ban all THC products statewide starting in September.
After the state allowed hemp sales to support farmers, Lt. Governor Dan Patrick said new smoke shops exploited a loophole in that law. Stores and businesses that sell products have pushed back and hope the Governor will veto the measure. Patrick said businesses and stores are selling dangerous products.
"These are bad actors," said Patrick. "These are people who want to kill your kids. They don't give a damn."
In response, Thomas Winstanley, Executive Vice President of Edibles.com, sent a statement saying, "The Lieutenant Governor's statement is not only deeply irresponsible—it's dangerously misleading. To characterize an entire industry as "bad actors'" who "want to kill your kids" is a flagrant misrepresentation that borders on satire, if it weren't so inflammatory coming from an elected official."
The Governor has already signed into law another bill that requires Apple and Google to verify the ages of its app store users.
Lawmakers are also spending at least $1 billion a year for the foreseeable future to create new water sources and fix leaky water pipes to accommodate a growing population and industries.
Watch Eye On Politics at 7:30 a.m. Sunday morning on CBS News Texas, on air and streaming on the CBS News app.
Follow Jack on X: @cbs11jack
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As of Aug. 1, S&P 500 firms are tracking for 10.3% earnings growth for Q2. If that rate holds, it will mark the third straight quarter of double-digit earnings growth for the index. Investors are still waiting to hear from the remaining third of companies, however. On deck next week are results from AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), and more. Here's a look at the earnings calendar for the next five business days: Monday: BioNTech (BNTX), Hims & Hers (HIMS), Palantir (PLTR) Tuesday: AMD (AMD), Amgen (AMGN), BP (BP), Caterpillar (CAT), Duke Energy (DUK), DuPont (DD), Lemonade (LMND), Marathon Petroleum (MPC), Marriott (MAR), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Snap (SNAP), Super Micro Computer (SMCI), Toast (TOST) Wednesday: Airbnb (ABNB), Disney (DIS), DraftKings (DKNG), Dutch Bros (BROS), e.l.f. (ELF), Joby Aviation (JOBY), Lyft (LYFT), McDonald's (MCD), Novavax (NVAX), Occidental Petroleum (OXY), Shopify (SHOP), Sunrun (RUN), Uber (UBER), Zillow Group (Z) Thursday: Atlassian (TEAM), Block (XYZ), Celsius Holdings (CELH), Crocs (CROX), Eli Lilly (LLY), Hertz (HTZ), Instacart (CART), Intuitive Machines (LUNR), Papa John's (PZZA), Peloton (PTON), Pinterest (PINS), Rocket Lab (RKLB), Texas Roadhouse (TXRH), Sweetgreen (SG), Warner Bros. Discovery (WBD), Wynn (WYNN), Yeti (YETI) Friday: Under Armour (UAA), fuboTV (FUBO) Big Tech quarterly results show greater willingness to spend on AI Recent quarterly results from Amazon (AMZN), Alphabet (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) showed Big Tech is still ready to spend hefty sums on artificial intelligence. As the chart below shows, the four tech firms plan to spend $364 billion cumulatively in their fiscal 2025 years. Yahoo Finance's Laura Bratton breaks down Big Tech's AI spending spree: Read more here. Recent quarterly results from Amazon (AMZN), Alphabet (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) showed Big Tech is still ready to spend hefty sums on artificial intelligence. As the chart below shows, the four tech firms plan to spend $364 billion cumulatively in their fiscal 2025 years. Yahoo Finance's Laura Bratton breaks down Big Tech's AI spending spree: Read more here. Colgate-Palmolive beats quarterly estimates on steady demand for essentials Colgate-Palmolive (CL) stock rose on Friday after the Softsoap maker beat first quarter sales and profit estimates. Despite rising prices and tariffs, consumers continued to purchase essential personal care products, the company said. Colgate reported adjusted profit of $0.92 per share, above analysts' estimates of 90 cents per share, according to data compiled by LSEG. Quarterly net sales reached $5.11 billion, beating estimates of $5.03 billion. Reuters reports: Read more here. Colgate-Palmolive (CL) stock rose on Friday after the Softsoap maker beat first quarter sales and profit estimates. Despite rising prices and tariffs, consumers continued to purchase essential personal care products, the company said. Colgate reported adjusted profit of $0.92 per share, above analysts' estimates of 90 cents per share, according to data compiled by LSEG. Quarterly net sales reached $5.11 billion, beating estimates of $5.03 billion. Reuters reports: Read more here. Regeneron beats second-quarter results estimates on Dupixent sales boost Regeneron Pharmaceuticals (REGN) stock rose more than 5% before the bell on Friday after beating Wall Street estimates for its second-quarter revenue and profit. The pharmaceuticals company was helped by robust demand for its blockbuster eczema product, Dupixent. Reuters reports: Read more here. Regeneron Pharmaceuticals (REGN) stock rose more than 5% before the bell on Friday after beating Wall Street estimates for its second-quarter revenue and profit. The pharmaceuticals company was helped by robust demand for its blockbuster eczema product, Dupixent. Reuters reports: Read more here. Moderna beats Q2 estimates, announces cost cuts and layoffs Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion. The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data. Reuters reports: Read more here. Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion. The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data. Reuters reports: Read more here. Chevron beats Wall Street profit estimates with record production Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices. Chevron shares were flat in premarket trading. Reuters reports: Read more here. Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices. Chevron shares were flat in premarket trading. Reuters reports: Read more here. Exxon beats profit estimates with higher production despite weak oil prices Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices. Reuters reports: Read more here. Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices. Reuters reports: Read more here. Amazon tosses a bone to the Fed chair Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript. Interesting call out by Amazon CEO Andy Jassy: I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless. Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript. Interesting call out by Amazon CEO Andy Jassy: I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless. How to think about Apple's quarter... We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly. The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL). Overall, I like how the Evercore ISI summed things up this evening: "Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal." We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly. The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL). Overall, I like how the Evercore ISI summed things up this evening: "Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal." Apple 'significantly growing' AI investments, sees $1.1 billion tariff hit in current quarter Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit: Listen to the earnings call live here. Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit: Listen to the earnings call live here. First Solar raises annual sales outlook, expects higher prices due to tariffs Reuters reports: Read more here. Reuters reports: Read more here. Strategy results show company buoyed by bitcoin in Q2 Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD). For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million. For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80. As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%. "Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60." 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"As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60." Apple reports earnings, revenue ahead of forecasts Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments. Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion. Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter. Apple stock was up about 2% following the results. Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments. Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion. Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter. Apple stock was up about 2% following the results. Roku reports surprise profit in Q2, revenue beats expectations Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday. The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG. Reuters reports: Read more here. Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday. The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG. Reuters reports: Read more here. Coinbase stock falls 7% after results disappoint Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts. Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago. In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million. Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year. Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts. Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago. In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million. Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year. Reddit stock soars as company posts fastest quarterly revenue growth in 3 years Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years. Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected. Yahoo Finance's Laura Bratton reports: Read more here. Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years. Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected. Yahoo Finance's Laura Bratton reports: Read more here. Amazon posts earnings beat but stock slips Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported: AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year. The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025. Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs. The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours. Read more here. Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported: AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year. The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025. Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs. The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours. Read more here. Apple Q3 earnings to give Wall Street better view of tariff impact Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell: Read more here. Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell: Read more here. Reddit set to report Q2 earnings as Wall Street scrutinizes daily active user growth Reddit (RDDT) will report second quarter results after the bell on Thursday. One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users. Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit: Read more here. Reddit (RDDT) will report second quarter results after the bell on Thursday. One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users. Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit: Read more here. Unilever's personal care business delivers solid results, but ice cream was the standout Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year. The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand. Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company. Reuters reports: Read more here. Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year. The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand. Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company. Reuters reports: Read more here.
Yahoo
17 minutes ago
- Yahoo
A Jury Found Tesla Partially Liable for Fatal 2019 Crash Involving the Brand's Autopilot Feature
"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." A Florida jury ruled that Tesla was partly to blame for a fatal 2019 crash that killed a 22-year-old woman, according to . Lawyers for the woman's family argued that Tesla's Autopilot system should have avoided the crash. The case was the first fatal accident involving Autopilot to go to a jury; Tesla has settled several cases outside of court. A Florida jury ruled that Tesla was partially responsible for a crash in 2019 that killed a 22-year-old woman and left her boyfriend seriously injured, according to The New York Times. Specifically, the jury awarded $59 million in compensatory damages to the family of the woman and $70 million to her boyfriend. The jury also awarded $200 million in punitive damages. The jury found Tesla 33 percent to blame for the crash, and the company will be forced to pay one-third of the compensatory damages. It will also be forced to pay the entirety of the punitive damages. According to the NYT report, the jury placed the rest of the blame on the driver, George Brian McGee, who previously settled with the families outside of court for an undisclosed amount of money. The 19-year-old Naibel Benavides, who was a college student at the time, died on April 25, 2019, after being struck by a Tesla Model S sedan driven by George Brian McGee. McGee had dropped his phone while approaching a T-intersection with Tesla's Autopilot software activated. The NYT report states that he drove through the intersection at more than 50 mph, crashing into the legally parked SUV of Benavides and her boyfriend, Dillon Angulo, on the other side. It was also reported that McGee's foot was on the accelerator pedal as he approached the intersection, thereby overriding a function of Autopilot that is capable of stopping for objects in the road. The lawyer representing Benavides' family said that data and video from the crash showed that the Autopilot system recognized the parked SUV and at least one pedestrian before the collision. While this particular case was the first fatal accident involving Autopilot to go to a jury, Tesla has settled several cases outside of court. A 2023 study by the Washington Post found that between 2019 and 2023, Tesla's Autopilot system was involved in 736 crashes, 17 of which were fatal. At the time, U.S. Transportation Secretary Pete Buttigieg stated during an interview that he found the name misleading. "I don't think that something should be called, for example, an Autopilot, when the fine print says you need to have your hands on the wheel and eyes on the road at all times," he said. According to the NYT report, Tesla plans to appeal the verdict. "Today's verdict is wrong and only works to set back automotive safety and jeopardize Tesla's and the entire industry's efforts to develop and implement life-saving technology," the company said in a statement. You Might Also Like Car and Driver's 10 Best Cars through the Decades How to Buy or Lease a New Car Lightning Lap Legends: Chevrolet Camaro vs. Ford Mustang!
Yahoo
17 minutes ago
- Yahoo
Trump Administration Suspends UCLA Grants After Rights Probe
(Bloomberg) -- The federal government is suspending certain research funding to the University of California at Los Angeles over concerns about antisemitism and bias on campus, hitting one of the most prestigious public higher-education systems in the US. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus In a message to students and staff, UCLA Chancellor Julio Frenk said the suspension could affect hundreds of grants from agencies including the National Science Foundation and the National Institutes of Health. He called the decision a blow to researchers and the broader public who benefit from their work in areas such as medical innovation and space exploration. The Associated Press reported that the Trump administration is freezing grants to UCLA that are valued at $339 million, citing a person familiar with the matter. 'This far-reaching penalty of defunding life-saving research does nothing to address any alleged discrimination,' Frenk said in the message on Thursday. The move comes as the federal government steps up civil rights enforcement at universities in response to campus unrest over the war in Gaza. While the administration's efforts have focused largely on some of the nation's most elite private universities — including Harvard, Cornell and Northwestern — they have also extended to the public sphere, with the 10-campus University of California system, including Berkeley, facing heightened scrutiny. Since last week, Columbia University and Brown University have reached agreements with the federal government to restore previously announced funding cuts, agreeing to years of new oversight and compliance measures. The UCLA funding freeze follows a federal investigation that found the school violated federal civil rights laws by failing to address antisemitic harassment on campus. This week, the Department of Justice's Civil Rights Division said the university acted with 'deliberate indifference' to reports of abuse targeting Jewish and Israeli students since the Oct. 7, 2023, Hamas attack on Israel and the ensuing conflict. The department cited UCLA for failing to meet its legal obligations under the 14th Amendment's Equal Protection Clause and Title VI of the Civil Rights Act. The decision adds pressure to a university already facing financial strains. Looming state budget cuts prompted a UC system-wide hiring freeze and broader cost-cutting, with officials warning of potentially deeper shortfalls ahead. Frenk said UCLA has taken steps to address antisemitism, including forming a new Office of Campus and Community Safety and launching an Initiative to Combat Antisemitism. He said the university is reviewing its options and has contingency plans in place to protect students, faculty and staff. --With assistance from John Gittelsohn and Janet Lorin. (Updates with value of grants in third paragraph.) How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. 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