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13 minutes ago
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Taxpayers Are Supposed To Shell Out $150 Million for Next Year's July 4th Celebrations
Consumer spending on 2025 Fourth of July celebrations is expected to reach $8.9 billion, according to the National Retail Federation—a slight decrease from previous years, but still well above pre-pandemic level spending. Next year, taxpayers can expect to pay even more for Independence Day festivities, albeit indirectly. On Friday, President Donald Trump signed the One Big Beautiful Bill Act into law. Tucked away in the sprawling 870-page tax and spending bill is a section that allocates $150 million for "events, celebrations, and activities surrounding the observance and commemoration of the 250th anniversary of the founding of the United States." The funding, which will be appropriated to the Interior Department, shall remain available through FY 2028. Appropriately, Trump signed the bill—which is expected to add nearly $4 trillion to the national debt over the next decade—at a Fourth of July celebration on the White House South Lawn, complete with fireworks and a B-2 jet flyover. Commemorating America's 250th birthday has been a quiet priority of the second Trump administration. In January, the president signed an executive order that established the White House Task Force on Celebrating America's 250th Birthday. The task force, which is housed in the defense department, will coordinate with federal agencies "to plan, organize, and execute an extraordinary celebration of the 250th Anniversary of American Independence and shall coordinate agencies' communications with the United States Semiquincentennial Commission." (The White House has since launched a website that includes a countdown to next year's festivities.) This order also reinstated two executive orders signed during the first Trump administration, which had been rescinded by President Joe Biden, to establish a National Garden of American Heroes. In April, the National Endowment for the Arts began accepting applications from sculptors for the garden, reports Reason's Joe Lancaster. However, the garden faces several roadblocks to its planned opening of July 4, 2026, including a lack of quality sculptures and a designated location. It is unclear exactly how the $150 million included in the bill will be spent, but the cost is exorbitant, even by Trump's standards. In 2019, the president hosted the "Salute to America" event to celebrate that year's July Fourth, which included a grandiose display of America's military power and several flyovers of multiple stealth aircraft that ended up costing American taxpayers more than $13 million, "well above the $6 million to $7 million that had been spent in the previous three years," The Washington Post reported at the time. The following year, Trump held two Independence Day celebrations—one in Washington, D.C., and one at Mount Rushmore on July 3—which drew a price tag of $14,573,608, per Newsweek. More recently, Trump hosted a military parade to celebrate the 250th anniversary of the Army (which fell on his 79th birthday) that included M1 Abrams main battle tanks, over 6,000 marching soldiers, and (yes) more aircraft flyovers. With an estimated cost of $25 million to $45 million, the parade cost taxpayers "$277,778–$500,000 per minute," Reason's Billy Binnion reported. The fact that America is on track to see its 250th anniversary is certainly worth celebrating. However, a state-sponsored celebration that saddles taxpayers with even more debt is the type of event that the founders would diametrically oppose. Lawmakers still have time to rescind the wasteful spending of "big, beautiful bill," but given Trump's hold on the Republican party, and Democrats' penchant for government spending themselves, it is unlikely. For now, taxpayers can look forward to once again financing the federal government's celebration of Independence Day, only this time at a much higher price tag. The post Taxpayers Are Supposed To Shell Out $150 Million for Next Year's July 4th Celebrations appeared first on
Yahoo
21 minutes ago
- Yahoo
Essex Announces Release and Conference Call Dates for Its Second Quarter 2025 Earnings
SAN MATEO, Calif., July 07, 2025--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE:ESS) announced today that it plans to release its second quarter 2025 earnings after the market closes on Tuesday, July 29, 2025. A conference call with senior management is scheduled for Wednesday, July 30, 2025 at 9:00 a.m. Pacific Time or 12:00 p.m. Eastern Time. The second quarter conference call is open to everyone and can be accessed by: Internet: Go to click on Investors and the second quarter earnings webcast. Phone: Dial toll-free, (877) 407-0784, or toll/international, (201) 689-8560. No passcode is necessary. Replay: A rebroadcast of the live call will be available online for 30 days and digitally for 7 days. To access the replay online, go to and select Investors and the second quarter earnings webcast. To access the replay digitally, dial (844) 512-2921 using the Replay Pin Number – 13754643. About Essex Property Trust, Inc. Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust ("REIT") that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 257 apartment communities comprising over 62,000 apartment homes with an additional property in active development. Additional information about the Company can be found on the Company's website at View source version on Contacts Loren RaineyDirector, Investor Relations(650) 655-7800lrainey@ 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
Yahoo
21 minutes ago
- Yahoo
Warren Buffett Skips Big Banks Like JPMorgan and Wells Fargo, Bets $459 Million On This One Asset
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Billionaire investor Warren Buffett has shifted his investment strategy, investing $459 million in Sirius XM (NASDAQ:SIRI) after selling his stakes in Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC). What Happened: Buffett's investment firm, Berkshire Hathaway, acquired approximately 20 million shares of Sirius XM between Q3 2024 and Q1 2025. This investment, calculated based on an average share price of $22.95, boosts Berkshire's total holdings in Sirius to nearly 120 million shares, valued at approximately $2.9 billion. Don't Miss: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Become an Investor in This $41.3M Clean Energy Brand Today Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. According to Hathaway's latest Form 13F filings, the purchase represents an effort to capitalize on a dip in Sirius XM's stock, which has plummeted about 45% from its 52-week high of $41.60 to $24.29. Despite recent financial challenges, including a 4% revenue drop in Q1 2025 and ongoing subscriber losses in Q2, Sirius XM's strong brand and recurring revenue model likely offer long-term value to Buffett. This strategic move follows Buffett's consistent offloading of shares from Bank of America, JPMorgan Chase, and Wells Fargo, thereby freeing up a significant cash reserve for new investments. Why It Matters: The shift in Buffett's investment strategy underscores his confidence in Sirius XM's long-term potential, despite its recent financial setbacks. The investment in Sirius XM, a company known for its strong brand and recurring revenue model, aligns with Buffett's investment philosophy of buying stocks with solid fundamentals at a discount. Moreover, the offloading of shares from Bank of America, JPMorgan Chase, and Wells Fargo, suggests a potential shift in Buffett's view on the banking sector. This move could signal a broader trend among investors, who may also be reassessing their positions in these banks. Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — And You Can Invest At Just $6.37/Share Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. Image: Shutterstock This article Warren Buffett Skips Big Banks Like JPMorgan and Wells Fargo, Bets $459 Million On This One Asset originally appeared on Sign in to access your portfolio