
Kennedy Center Opera House Could Be Renamed for Melania Trump
U.S. President Donald Trump looks down from the Presidential Box in the Opera House at the John F. Kennedy Center for the Performing Arts as he participates in a guided tour and leads a board...
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
The famed John F. Kennedy Center Opera House in Washington D.C. could be renamed to honor First Lady Melania Trump, according to an amendment to a bill in the Interior Department reviewed by Newsweek.
"Provided, That the Opera House located in the John F. Kennedy Center for the Performing Arts shall be known and designated as the 'First Lady Melania Trump Opera House,'" the amendment read.
It was adopted 33-25 according to the House Appropriations Committee, in a bill that addresses Wildfires and Military Readiness.
Just last month, President Donald Trump was met with cheers, boos, and chants of "USA" when he went to the venue to on the opening night performance of the musical Les Misérables, Newsweek previously reported.
The bill before us today honors both our commitment to preserve America's natural heritage and our duty to ensure a strong, sustainable, and fiscally responsible future.
"This bill supports President Trump's agenda to unleash American energy and cut red tape," Appropriations Committee Chairman Tom Cole said in his remarks Tuesday. "We include provisions that reduce unnecessary regulatory burdens, protect American jobs, and lower energy costs. With a focus on U.S. energy dominance, we strengthen our national security by expanding access to critical minerals.
This is a breaking news story. Updates to come.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 minutes ago
- Yahoo
5 Reasons Trump's Trade Deal With China Is Bad News for the Middle Class
President Donald Trump's latest trade deal with China may look like a diplomatic win, but for the American middle class, it comes with hidden costs. Trending Now: Find Out: While tariffs are being reduced in exchange for promises from Beijing, households could still face higher prices, disrupted supply chains and reduced job growth. Here are four reasons Trump's trade deal with China is bad news for the middle class and what families can do to protect their finances. Higher Consumer Prices Despite Tariff Relief Even as the U.S. and China approach an August trade deal deadline, prices on many consumer goods remain elevated, and middle-class households continue to feel the strain. Some experts argue that the new tariffs may not drastically shift average import prices. However, middle-class families are more likely to feel the impact in specific categories, such as electronics, tools and household goods. 'U.S. companies scrambled to import as many goods as possible to stockpile before new tariffs were fully implemented, mitigating the immediate impact of tariffs on prices,' said Bryan Riley, Director of the Free Trade Initiative at the National Taxpayers Union. Riley said that since imports from China account for just 13.2% of total U.S. imports, increases in the price of specific Chinese goods may not push up the overall import average. However, they can still significantly affect middle-class budgets for everyday items. Read More: Erosion of Real Incomes and Job Losses An analysis by the Federal Reserve Bank of San Francisco warned that Trump's trade measures could cut national real income by around 0.4%, while losses in services and agriculture might offset job gains in manufacturing. 'What's pitched as economic growth is actually a slow bleed: Manufacturing jobs won't magically return, and small businesses relying on predictable import costs are about to face more whiplash,' said Patrice Williams Lindo, CEO of Career Nomad. 'Wages stay stagnant while everyday costs climb. And here's the kicker — there's no workforce investment baked into this deal. That means your job security, benefits and opportunities to grow could evaporate, especially if your industry leans heavily on exports or global sourcing.' Volatile Markets and Supply Chain Instability Although the China deal eased recession fears, experts said that uncertainty around ongoing tariffs still disrupts manufacturing and logistics. Businesses may hold back investment or retool supply chains, raising costs for middle-class consumers and slowing hiring. For example, uncertainty remains one of the most significant threats to economic momentum, particularly for businesses making long-term decisions. 'The real issue is that this deal doesn't create clarity. It reinforces an environment of 'wait and see,' Robert Khachatryan, CEO and founder of Freight Right. 'That's not how you build confidence in the economy.' Khachatryan added, 'You can't expect small and midsize businesses, who employ a huge portion of America's middle class, to plan for the future when they're stuck playing defense against the next round of tariffs.' Missed Middle-Class Priorities in the Deal While the latest Trump-China deal touts manufacturing wins, some economists warn it overlooks the broader economic trade-offs that directly affect the middle class. 'We have an experiment,' said Michael Froman, president of the Council on Foreign Relations, in a recent interview on Conversations with Jim Zirin. 'In 2018, President Trump imposed 25% tariffs on steel. Seven years later, we have 1,000 more steelworkers, but 75,000 fewer workers in manufacturing sectors that relied on steel, and a 30% drop in steel sector productivity.' This kind of trade-off may deliver political wins, but it overlooks how tariff-driven policies ripple into everyday life for the middle class. 'Over time, reduced job stability in trade-sensitive sectors and a slowdown in wage growth may exacerbate economic insecurity for families already stretched thin by inflation and debt servicing costs,' said Jean-Baptiste Wautier, a private equity CIO and World Economic Forum speaker. How To Protect Your Budget Middle-class families can shield themselves by using rewards or rebate programs and strategically stockpiling essentials before potential tariff increases. Julian Merrick, founder and CEO of Supertrader, a fintech firm focused on global markets, recommends starting with a small emergency fund, even setting aside $200 to $300, which can help families avoid debt when unexpected expenses arise. 'It also helps to cut back on spending in categories where prices are rising — things like tech, clothes or imported goods,' Merrick said. 'Families should avoid taking on new high-interest debt right now, especially for non-essentials. And for those with investments, make sure the money is spread out across different industries.' Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 6 Hybrid Vehicles To Stay Away From in Retirement This article originally appeared on 5 Reasons Trump's Trade Deal With China Is Bad News for the Middle Class 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


The Hill
4 minutes ago
- The Hill
Union Pacific, Norfolk to merge, create America's first coast-to-coast railroad: What to know
The proposed merger on Tuesday of Union Pacific and Norfolk Southern would create the first coast-to-coast railroad in the United States that would be controlled by a single entity. The deal, valued at $85 billion, plans to connect 50,000 miles of tracks spanning across 43 states and the District of Columbia. The leaders hailing the project on Tuesday suggested it would dramatically transform the way supplies are transported across the country. 'Railroads have been an integral part of building America since the Industrial Revolution, and this transaction is the next step in advancing the industry,' Jim Vena, Union Pacific's CEO, said in a statement. 'Imagine seamlessly hauling steel from Pittsburgh, Pennsylvania to Colton, California and moving tomato paste from Huron, California to Fremont, Ohio. Lumber from the Pacific Northwest, plastics from the Gulf Coast, copper from Arizona and Utah, and soda ash from Wyoming,' he added. 'Right now, tens of thousands of railroaders are moving almost everything we use. You name it, and at some point, the railroad hauled it.' What's the timeline? The two companies are planning to submit an application with the Surface Transportation Board (STB) in six months. Union Pacific and Norfolk Southern are tracking a finalized transaction by early 2027, according to a release. Each entity will continue independent management until the deal is closed. Company operations are headquartered in Omaha, Neb., while Atlanta will serve as a long-term project hub. What's the financial breakdown? Union Pacific is expecting to boost its company value to $30 billion while reaping in $2.75 billion annually. The company is offering Norfolk Southern shareholders $88.82 in cash per share and one Union Pacific share to complete the deal. Norfolk Southern shareholders will maintain 27 percent ownership in the combined company. The combined company will be without a voting trust and includes a $2.5 billion reverse termination fee. What will happen to workers? Union Pacific said every union employee who wants a job in the combined company will have one in their Tuesday release. 'Our safety, network, and financial performance is among the best we've had as a company, as is our customer satisfaction. And it is from this position of strength that we embark on this transformational combination,' said Norfolk Southern CEO Mark George. 'We are confident that the power of Norfolk Southern's franchise, diversified solutions, high-quality customers and partners, as well as skilled employees, will contribute meaningfully to America's first transcontinental railroad, and to igniting rail's ability to deliver for the whole American economy today and into the future,' he added.


Chicago Tribune
4 minutes ago
- Chicago Tribune
Union Pacific and Norfolk Southern seek 1st transcontinental railroad through a massive merger
OMAHA, Neb. (AP) — Union Pacific wants to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S, and potentially trigger a final wave of rail mergers across the country. The proposed merger, announced Tuesday, would marry Union Pacific's vast rail network in the West with Norfolk's rails that snake across 22 Eastern states, and the District of Columbia. The nation was first linked by rail in 1869, when a golden railroad spike was driven in Utah to symbolize the connection of East and West Coasts. Yet no single entity has controlled that coast-to-coast passage. The railroads argue a merger would streamline deliveries of raw materials and goods nationwide by eliminating delays when shipments are handed off between railroads. The AP first reported the merger talks earlier this month a week before the railroads confirmed the discussions last week. Any deal would be closely scrutinized by antitrust regulators that have set a very high bar for railroad deals after previous consolidation in the industry led to massive backups and snarled traffic. If the deal is approved, the two remaining major American railroads — BNSF and CSX — will face tremendous pressure to merge to create a second transcontinental railroad so they can compete. The continent's two other major railroads — Canadian National and CPKC — may also get involved. The Canadian rails span all of that nation and feed into America. CPKC rails stretch south into Mexico Some big shippers like chemical plants in the Gulf may be wary of the deal due to fears of a monopoly that could would wield immense influence over rates, but other major rail customers, like Amazon and UPS, may be in favor if it means packages will arrive more quickly and reliably. Those big companies, along with unions and communities across the country that the railroads cross, will have a chance to weigh before the U.S. Surface Transportation Board. Consumers could benefit if the transcontinental rail does reduce shipping rates and delivery times. Union Pacific said that combined, the railroads would improve delivery times. There's speculation that this deal might win approval under the pro-business Trump administration, but the STB is currently evenly split between two Republicans and two Democrats. The board is led by a Republican, and Trump will appoint a fifth member before this deal will be considered. Union Pacific is offering $20 billion cash and one share of its stock to complete the deal. Norfolk Southern shareholders would receive one UP share and $88.82 in cash for each one of their shares as part of the deal that values NS at roughly $320 per share. Norfolk Southern closed at just over $260 a share earlier this month before the first reports speculating about a deal. Union Pacific's stock fell nearly 2% to $224.98 in premarket trading, while Norfolk Southern's stock dipped more than 3% to $277.40. Union Pacific CEO Jim Vena, who has championed a merger, said lumber from the Pacific Northwest and plastics produced on the Gulf Coast and steel made in Pittsburgh will all reach their destinations more seamlessly. 'It builds upon President Abraham Lincoln's vision of a transcontinental railroad from nearly 165 years ago, and will usher in a new era of American innovation,' Vena told investors Tuesday. U.S. railroads have already undergone extensive consolidation. There were more than 30 major freight railroads in the early 1980s. Today, six major railroads handle the majority of shipments nationwide. Western rival BNSF, owned by Berkshire Hathaway, has the war chest to pursue an acquisition of CSX, to the east, if it chooses. CEO Warren Buffett is sitting on more than $348 billion cash and the consummate dealmaker may want to swing for the fences one last time before stepping down as planned at the end of the year. Buffett recently threw cold water on reports that he had enlisted Goldman Sachs to advise him on a potential rail deal in an interview with CNBC, but he rarely uses investment bankers anyway. Buffett reached an agreement to buy the parts of the BNSF railroad he didn't already own for $26.3 billion after a private meeting with its CEO more than a decade ago. Yet there's widespread debate over whether a major rail merger would be approved by the Surface Transportation Board, which has established a high bar for consolidation in the crucial rail industry. That's largely due to the aftermath of a consolidation in the U.S nearly 30 years ago that involved Union Pacific. It merged with Southern Pacific in 1996 and the tie-up led to an extended period of snarled traffic on U.S. rails. Three years later, Conrail was divvied up by Norfolk Southern and CSX, which led to more backups in the East. 'We're committed to making sure that doesn't happen in this case,' said Norfolk CEO Mark George. He added that the railroads will spend the next two years planning for a smooth integration before this deal might get approved. Just two years ago, the STB approved the first major rail merger in more than two decades. In that deal, which was supported by big shippers, Canadian Pacific acquired Kansas City Southern for $31 billion to create the CPKC railroad. There were compelling factors in that deal, however, that combined the two smallest major freight railroads. The combined railroad, regulators reasoned, would benefit trade across North America. The deal announced Tuesday would merge the nation's largest freight railroad, with the smallest. Union Pacific and Norfolk Southern said they expect to submit their application for approval within the next six months and hope the deal would get approved by early 2027. They predict that they would be able to eliminate $1 billion in costs annually, but Vena said that every union worker at both railroads should still have a job. The railroads also predict they would be able to boost revenue by at least $1.75 billion each year by winning more business from trucking companies and other railroads. On Tuesday, Norfolk Southern reported a $768 million second-quarter profit, or $3.41 per share, as volume grew 3%. That's up from $737 million, or $3.25 per share, a year ago, but the results were affected by insurance payments from its 2023 East Palestine derailment and restructuring costs. Without the one-time factors, Norfolk Southern made $3.29 per share, which was just below the $3.31 per share that analysts surveyed by FactSet Research predicted.