US Senate Republicans unveil proposed changes to Trump tax-cut bill
WASHINGTON (Reuters) -Republicans who control the U.S. Senate Finance Committee unveiled changes to President Donald Trump's sweeping tax-cut and spending bill on Monday that would make business-related tax breaks permanent while modifying Medicaid reforms and a new federal deduction for state and local taxes.
The modified text of Trump's One Big Beautiful Bill Act will now be debated by Senate Republicans as they try to move forward on an aggressive timeline to pass the legislation ahead of the July 4 U.S. holiday.
The legislative text unveiled by the tax-writing committee is part of a larger set of modifications to the bill, which passed the Republican-controlled House of Representatives last month. A Senate-revised version of the original measure would need to be approved by the House before Trump could sign it into law.
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Forbes
19 minutes ago
- Forbes
Trump Issues ‘Evacuate Tehran' Warning And Leaves G7 Summit—What To Know
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Hamilton Spectator
21 minutes ago
- Hamilton Spectator
Israel's strikes on Tehran broaden as Trump issues ominous warning
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Iran has retaliated by launching more than 370 missiles and hundreds of drones at Israel. So far, 24 people have been killed in Israel and more than 500 wounded. The back-and-forth has raised concerns about all-out war between the countries and propelled the region, already on edge , into even greater upheaval. Trump leaves G7 early to focus on conflict Before leaving the summit in Canada, Trump joined the other leaders in a joint statement saying Iran 'can never have a nuclear weapon' and calling for a 'de-escalation of hostilities in the Middle East, including a ceasefire in Gaza.' Meanwhile, U.S. Defense Secretary Pete Hegseth headed to the White House Situation Room to meet with the president and his national security team. Hegseth didn't provide details on what prompted the meeting but said on Fox News late Monday that the movements were to 'ensure that our people are safe.' Israeli strikes on Tehran broaden Israeli military spokesperson Brig. Gen. Effie Defrin said Monday that his country's forces had 'achieved full aerial superiority over Tehran's skies.' The military said it destroyed more than 120 surface-to-surface missile launchers in central Iran, a third of Iran's total, including multiple launchers just before they launched ballistic missiles towards Israel. It also destroyed two F-14 fighter planes that Iran used to target Israeli aircraft, the military said. Israeli military officials also said fighter jets had struck 10 command centers in Tehran belonging to Iran's Quds Force, an elite arm of its paramilitary Revolutionary Guard that conducts military and intelligence operations outside Iran. Israel's military issued an evacuation warning to 330,000 people in a part of central Tehran that houses the country's state TV and police headquarters, as well as three large hospitals, including one owned by the Guard. Israel's military has issued similar evacuation warnings for parts of the Gaza Strip and Lebanon ahead of strikes. Health authorities reported that 1,277 people were wounded in Iran. Iranians also reported fuel rationing. Rights groups such as the Washington-based Iranian advocacy group Human Rights Activists have suggested that the Iranian government's death toll is a significant undercount. The group says it has documented more than 400 people killed, among them 197 civilians. Israel says strikes have set back nuclear program Prime Minister Benjamin Netanyahu said the Israeli strikes have set Iran's nuclear program back a 'very, very long time,' and told reporters he is in daily touch with Trump. Iran maintains that its nuclear program is peaceful, and the U.S. and others have assessed that Tehran has not had an organized effort to pursue a nuclear weapon since 2003. The head of the International Atomic Energy Agency has repeatedly warned that the country has enough enriched uranium to make several nuclear bombs should it choose to do so. So far, Israel has targeted multiple Iranian nuclear program sites but has not been able to destroy Iran's Fordo uranium enrichment facility. The site is buried deep underground — and to eliminate it, Israel may need the 30,000-pound (14,000-kilogram) GBU-57 Massive Ordnance Penetrator, a U.S. bunker-busting bomb that uses its weight and sheer kinetic force to reach deeply buried targets. Israel does not have the munition or the bomber needed to deliver it. The penetrator is currently delivered by the B-2 stealth bomber. No sign of conflict letting up Iran's foreign minister, Abbas Araghchi, appeared to make a veiled plea Monday for the U.S. to step in and negotiate an end to hostilities between Israel and Iran. In a post on X, Araghchi wrote that if Trump is 'genuine about diplomacy and interested in stopping this war, next steps are consequential.' 'It takes one phone call from Washington to muzzle someone like Netanyahu,' Iran's top diplomat wrote. 'That may pave the way for a return to diplomacy.' The message to Washington was sent as the latest talks between the U.S. and Iran were canceled over the weekend after Israel's surprise bombardment. On Sunday, Araghchi said that Iran will stop its strikes if Israel does the same. ___ Lidman reported from Jerusalem and Melzer from Nahariya, Israel. Associated Press writers Nasser Karimi and Amir Vahdat in Tehran, Iran, and Tara Copp in Washington contributed to this report. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . 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Bloomberg
24 minutes ago
- Bloomberg
EU Oil Price-Cap Bid Loses Steam Without US Backing
Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. An EU proposal to lower a Group of Seven oil-price cap to $45 per barrel from $60 and tighten the screws on Russia's revenues could be losing steam, we're told. The US is opposing the move and some member states are hesitant to move forward without President Donald Trump's backing. The surge in oil prices over Middle East tensions adds a new level of complexity, making arguments for going it alone with G-7 nations other than the US more difficult. One diplomat told us that several member states are worried that a lower price threshold could push crude prices even higher. Before exiting the G-7 summit in Canada early, Trump indicated he's in no rush to impose tougher sanctions on Russia. On the sidelines, Commission President Ursula von der Leyen met with Trump, and the EU's trade chief Maros Sefcovic sat down with US counterpart Jamieson Greer to discuss trade negotiations ahead of a July 9 deadline, when the US could hit the bloc with 50% tariffs on most EU exports.
