Israel Iran conflict Live: Trump calls Situation Room meeting with national security staff
The ongoing Iran-Israel conflict disrupted US President Donald Trump's G7 summit in Canada, forcing him to return to Washington DC to lead a National Security Council meeting he had convened.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NDTV
24 minutes ago
- NDTV
What's New in the Senate Version of Trump's Tax and Spending Bill
Senate Republicans plan to modify President Donald Trump's massive fiscal package to lower maximum deductions for state and local taxes and limit the impact of a "revenge" tax on foreign investors. Senate GOP leaders also plan to cut deeper into Medicaid health insurance for the poor and disabled than House Republicans did in their version of the legislation to help pay for Trump's tax cuts. Republicans on the Senate Finance Committee released their version of the legislation, which also would make permanent some business tax breaks that would only run through 2029 in the version the House passed last month by a single vote. Here are some of the key differences between the Senate and House tax bills. 'Revenge' Tax The House bill's Section 899 "revenge" tax has alarmed Wall Street analysts who warn it would create another disincentive for foreign investors already rattled by Trump's erratic trade policies and the nation's deteriorating fiscal accounts. Senate Republicans responded by delaying and watering down the levy, which would increase tax rates for individuals and companies from countries whose tax policies the government deems "discriminatory." The Senate version would postpone that new tax until 2027 for calendar-year filers and raise it by 5 percentage points a year until it hits a 15% cap. The House version of the tax would take effect sooner and rise to 20% over four years on individuals and firms from targeted countries. State and Local Tax Deduction Senate Republicans want to significantly scale back the House bill's $40,000 limit on state and local tax deductions, a move House Republicans from high-tax states such as New York, New Jersey and California are fighting. The Senate's version of the tax bill calls for a $10,000 SALT cap, which leaders acknowledge is merely a placeholder figure as they try to hash out a compromise. There are no Senate Republicans from those high-tax states, and they've made no bones about the fact that it's not a priority for them. Car Loans Senators want to restrict to new cars a House-passed provision allowing car buyers to deduct up to $10,000 a year in interest on their auto loans through 2028 for vehicles built in the US. Ohio Republican Senator Bernie Moreno, a former car dealer, pushed for the language. Moreno had also sought to make the tax break permanent, but the draft keeps it a temporary benefit. A Rivian R1S electric vehicle charges at a dealership and service center in California. Electric Vehicles The Senate bill would eliminate a popular $7,500 credit for the purchase of electric vehicles 180 days after the bill becomes law, as opposed to expiring at the end of the year for most vehicles in the House version. That could be a difference of a few days, or longer, depending on the timing of the bill. Child Tax Credit Both the House and Senate bills seek to boost the child tax credit but they do so in different ways. The Senate legislation would increase the maximum per-child credit from $2,000 to $2,200, making it permanent and adjust it for inflation in later years. The House bill would boost the tax break to $2,500, but it would decrease after 2028. A tip jar at a cafe in Brooklyn. Tipped Workers The Senate bill contains new limits on Trump's campaign promises to exempt tips and overtime from taxation. It caps the amount of tipped wages that can be exempt at $25,000 per individual and overtime at $12,500 per individual and $25,000 per couple. The breaks phase out above $150,000 in income for individuals and $300,000 for couples, and, like the House bill, they expire after 2028. Seniors The Senate bill expands a maximum $4,000 bonus standard deduction for seniors to $6,000 in an effort to better offset all Social Security taxes paid, a promise by Trump. Medicaid Cuts The Senate bill makes more aggressive cuts to the Medicaid program for low-income and disabled people than the reductions in the House bill, favoring states like Texas and Florida that did not expand Medicaid under the Affordable Care Act. The Senate bill also would require parents with children 15 and older to work or do community service for 80 hours per month to qualify for health insurance through Medicaid. The House plan exempted all people with dependents from the work requirements. An entrance to Harvard Yard on the Harvard University campus. University Endowment Tax The Senate bill significantly pares back the House's plans to increase taxes on investment income generated by private university endowments. While the House proposed a levy as high as 21% on institutions with the largest endowments, the Senate version would cap the tax hike at 8%. The bill does not include a tax on private foundations found in the House bill. Permanent Business Tax Breaks The panel also plans to permanently extend three business-friendly tax breaks that end after 2029 in the House version. Those provisions include the research and development deduction, the ability to use depreciation and amortization as the basis for interest expensing and 100% bonus depreciation of certain property, including most machinery and factories. Gun Tax Breaks The Senate version would eliminate taxes and other regulations on many guns and silencers subject to the National Firearms Act of 1934 in a win for gun-rights advocates.
Time of India
25 minutes ago
- Time of India
'Will come down so hard': Trump's big warning to Iran; says looking for 'real deal' not ceasefire
As the Middle East teeters on the edge of a wider war, US President Donald Trump delivered a stark warning to Iran: 'Not to touch our troops.' Speaking aboard Air Force One en route back to Washington, Trump said he was not in the mood for peace talks and hinted at a harsher American response if provoked. Tired of too many ads? go ad free now 'We'll come down so hard, it'd be gloves off,' he said. On his social media platform Truth Social, Trump doubled down: 'I have not reached out to Iran for 'Peace Talks' in any way, shape, or form… They should have taken the deal that was on the table, would have saved a lot of lives!!!' His comments come amid dramatic developments on the ground. Iran's capital, Tehran, is showing signs of panic. Long lines have formed at gas stations, the historic Grand Bazaar is shuttered, and thousands are reportedly fleeing west toward the Caspian Sea. Though no official evacuation order has been issued, Israel's warning for 300,000 residents to leave the city ahead of potential airstrikes has heightened tensions. Meanwhile, the Israeli military claims it has assassinated Gen. Ali Shadmani, a high-ranking commander in Iran's elite Revolutionary Guard. Iran has not confirmed the death. Trump's hardline stance appears to be supported by military moves. The USS Nimitz Carrier Strike Group is en route to the region, and US missile-defense ships in the eastern Mediterranean have already intercepted rockets aimed at Israel over the weekend. Allies call for restraint European leaders, including France, Germany, and the UK, are scrambling to calm the crisis. French Foreign Minister Jean-Noel Barrot urged Iran to return to talks 'without conditions' and warned against nuclear escalation or withdrawing from the Non-Proliferation Treaty. Italy's Prime Minister Giorgia Meloni also urged a return to diplomacy during her meeting with Trump at the G7 summit in Canada, even as Trump denied reports he had cut his trip short to work on a ceasefire. Tired of too many ads? go ad free now 'Much bigger than that,' he posted on Truth Social. India begins evacuations; Arab states condemn escalation India confirmed that it has begun evacuating students and nationals from Tehran, urging others to leave via Armenia. Meanwhile, 20 countries, including Egypt, Jordan, Saudi Arabia, and the UAE, issued a joint statement condemning Israel's 'aggression' and calling for an immediate ceasefire and regional nuclear disarmament. G7 issues stark warning G7 leaders released a joint statement emphasizing that Iran must never obtain a nuclear weapon. 'We affirm that Israel has a right to defend itself… Iran is the principal source of regional instability and terror,' the statement read. But for now, Iran says it won't negotiate while under attack. And Trump, when asked whether a diplomatic mission involving Vice President Vance and businessman Steve Witkoff might be dispatched, replied: 'Depends on what happens when I get back.'
Mint
26 minutes ago
- Mint
China, HK stocks end lower on Middle East tensions; annual financial forum in focus
SHANGHAI, - Mainland China and Hong Kong stocks ended lower on Tuesday, as sentiment was weighed down by fresh signs of Middle East tensions after U.S. President Donald Trump urged Iranians to evacuate Tehran. Israel and Iran attacked each other for a fifth straight day. Trump left the Group of Seven summit in Canada a day early due to the situation in the Middle East, the White House said on Monday, prompting broad risk-off sentiment in global financial markets. ** "One thing that is clear is that the situation continues to be highly uncertain and risks of escalation should not be ignored," analysts at Maybank said in a note. ** "Safe havens should continue to be better bid and the U.S. dollar should be better supported." ** At the close, the Shanghai Composite index was down 0.04% at 3,387.40, while the blue-chip CSI300 index was down 0.09% at 3,870.38. ** The smaller Shenzhen index ended down 0.12% and the start-up board ChiNext Composite index was weaker by 0.36%. ** Oil and gas shares were an outperformer, as the geopolitical tensions drove crude prices higher. A sub-index tracking the sector gained 0.92%. ** In Hong Kong, the benchmark Hang Seng index was down 0.34% at 23,980.30, while the Hang Seng China Enterprises index fell 0.4% to 8,694.67. ** Apart from the Middle East tensions, focus was also on the annual Lujiazui Forum this week, traders and analysts said. ** "The Lujiazui forum is likely to be the key window for financial and yuan internationalization-related policies, while the July Politburo economic meeting is likely to provide further guidance on the monetary and fiscal stance for H2 this year," said Ju Wang, head of Greater China FX and rates strategy at BNP Paribas. ** The Lujiazui Forum is scheduled for June 18-19. This article was generated from an automated news agency feed without modifications to text.
