Bessent Says Trump Administration Moving Forward on Harvard Tax Threat
Treasury Secretary Scott Bessent said President Donald Trump is 'moving forward' with efforts to revoke Harvard University's tax-exempt status, ratcheting up the government's high-profile clash with one of the nation's wealthiest and most prestigious schools.
Harvard may not be complying with some of the rules that govern institutions with the federal tax benefit, Bessent told Bloomberg Television's David Westin on Friday. 'We will see if they are following the rules,' he said. 'It looks like there is a substantial number where perhaps they weren't.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
28 minutes ago
- Yahoo
Trump's DOGE efficiency agency says it slashes $25B in federal spending as rehiring begins
The Department of Government Efficiency (DOGE) announced on Wednesday it has decreased its annual non-defense federal obligations by an additional ~1.9% since last month. As of June 8th, annual non-defense federal obligations are down 22.4%, or ~$25B, as compared to 2024, DOGE announced on X. The cut marks an additional ~1.9% reduction from last month's figures, which were announced on May 8. Doge's Greatest Hits: Look Back At The Department's Most High-profile Cuts During Trump's First 100 Days "Cash outlays will follow as obligations come due," DOGE wrote in the post. "Our initiative to reduce wasteful spend, consistent with the DOGE Cost Efficiency Executive Order, continues to bear fruit." On May 14, DOGE announced the current year's non-defense federal obligations were down 20.5% as compared to 2024. Read On The Fox News App The announcement came minutes before Fox News Digital was first to report the Department of Health and Human Services (HHS) is rehiring more than 450 previously fired employees belonging to multiple divisions within the agency's Centers for Disease Control and Prevention (CDC). The rehired CDC employees came from the National Center for HIV, Viral Hepatitis, STD, and Tuberculosis Prevention; the National Center for Environmental Health; the Immediate Office of the Director, and the Global Health Center, according to an HHS official familiar with the matter. HHS Secretary Robert F. Kennedy Jr. told CBS News in April some personnel who were cut shouldn't have been. Doge Ends 108 'Wasteful' Contracts, Including For An 'Executive Transformational Leadership Training Program' "We're reinstating them, and that was always the plan," Kennedy said. "Part of the—at DOGE, we talked about this from the beginning, is we're going to do 80% cuts, but 20% of those are going to have to be reinstated, because we'll make mistakes." In addition to the HHS rehires, the Internal Revenue Service, Food and Drug Administration, State Department, and Department of Housing and Urban Development started rehiring employees let go during DOGE cuts, the Washington Post reported. Doge Takes A Chainsaw To Federal Spending With 7 Major Victories This Week: 'Got To Be Done' Another roadblock this week was a ruling from U.S. District Judge Denise Cote of the Southern District of New York, who ruled to restrict the agency's access to federal databases. The Trump administration previously said DOGE could not work effectively with the limitations, noting DOGE needed to access Social Security information to root out fraud. Fox News Digital's Alec Schemmel and Danielle Wallace contributed to this article source: Trump's DOGE efficiency agency says it slashes $25B in federal spending as rehiring begins
Yahoo
28 minutes ago
- Yahoo
JCPD releases statement regarding ‘No Kings Day' protests
JOHNSON CITY, Tenn. (WJHL) — The Johnson City Police Department issued a statement regarding protests planned around the region Saturday. The nationwide 'No Kings' protests will take place across the Tri-Cities, including in Johnson City, Kingsport and Abingdon. The event is part of 'No Kings Day,' a protest against the Trump administration on the same day as a military parade in Washington, D.C. The statement from the Johnson City Police Department is as follows: Crowder, Shenandoah, Zach Top and more performing at Appalachian Fair The Johnson City Police Department respects and upholds the right of individuals to engage in peaceful assemblies. We are aware of local gatherings related to national events planned for this weekend and remind the public that temporary structures and amplified sound require proper permitting, sidewalks must remain accessible for pedestrians, and traffic flow cannot be obstructed. Additionally, participants must comply with all traffic signals when crossing intersections. As always, the mission of the Johnson City Police Department is to protect the safety, rights, and freedoms of all individuals in our community. That commitment guides our approach each and every day. Johnson City Police Department The Johnson City 'No Kings' protest will be held in Founders Park at 9:30 a.m. To view a list of planned demonstrations, many of which will also host food drives, visit TennVa UNITED. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Bloomberg
29 minutes ago
- Bloomberg
Chicago Bears Weigh Sale of McKenna's Minority Stake
The Chicago Bears are exploring a sale of the minority stake owned by the late Andrew McKenna Sr., according to people familiar with the matter. The exact size of the stake isn't known. McKenna died in 2023. The descendants of George Halas, the team's founder, own approximately 80% of the team. In addition to McKenna's stake, some shares are owned by insurance billionaire Pat Ryan, 88. Ryan and McKenna originally purchased 19.7% of the club in 1990.
