Mike Johnson Says 'Wild Card' Factor May Delay Passage Of Trump's Tax Bill
The U.S. Senate on Tuesday passed the bill with Vice President JD Vance casting the tie-breaking vote after Republicans managed to win over the support of Sen. Lisa Murkowski (R-Alaska). The Senate's version of the bill will now need to be approved by the House before it heads to Trump's desk.
In an interview with Fox News' Sean Hannity, Johnson said some members have struggled to return to Washington as a result of flight delays and cancellations prompted by the thunderstorms affecting the East Coast, including the nation's capital.
'We're having weather delays, getting everybody back right now,' Johnson said.
The bill got through the House Rules Committee early Wednesday and will now move on for consideration by the full House.
'Hopefully we're voting on this by [Wednesday] or Thursday at latest depending on the weather delays and travel and all the rest,' he added. 'That's the wild card that we can't control.'
Johnson: Hopefully, we're voting on this by tomorrow or Thursday at latest pic.twitter.com/R4cBJVLnsM
— Acyn (@Acyn) July 2, 2025
Given his slim majority, Johnson can only afford to lose a handful of votes. However, while many GOP members previously expressed reservations about the bill, Reps. Thomas Massie (Ky.) and Warren Davidson (Ohio) were the only Republicans to actually vote against the legislation when it passed the House last month.
House Minority Leader Hakeem Jeffries (D-N.Y.) said he expected all Democrats to be in attendance. Rep. Raja Krishnamoorthi (D-Ill.) said he was driving to Washington after his flight was canceled to make it back in time. Some GOP lawmakers, including Reps. Nancy Mace (R-S.C.) and Russell Fry (R-S.C.), who also faced travel hiccups chose to drive in, sharing their car journey on social media.
In a post on his Truth Social platform following the Senate vote, Trump called on House Republicans to unite behind the bill and pass it by his arbitrary July 4 deadline, urging them to ignore the party's 'occasional 'GRANDSTANDERS.''
'We are on schedule — Let's keep it going, and be done before you and your family go on a July 4thvacation,' Trump wrote. 'The American People need and deserve it. They sent us here to, GET IT DONE!'
But Trump appears to now accept the prospect that the passage of the legislation may be delayed.
'I'd love to do July 4, but I think it's very hard to do July 4,' he told reporters earlier on Tuesday.
The bill has drawn heat as it includes about $4 trillion in tax cuts for wealthy Americans, partially paid for by nearly $1 trillion in cuts to Medicaid. The legislation is also expected to add over $3 trillion to the national debt over the next decade, according to a nonpartisan estimate.
I Stayed Up All Night Watching Senate Republicans Pass Trump's Bill. Here's What It Was Like.
Senate GOP Passes Trump's Bill To Give Tax Cuts To The Rich
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
The rich already know how private equity mints money — and it's not from a 401(k)
The ultrawealthy are envied for many reasons. For instance, we wish we could access the same private-market investments that they favor. Now, after the White House issued an executive order on Aug. 7, you may be able to invest like the billionaires do. Homeowners rush to refinance as mortgage-rate plunge opens window of opportunity My wife and I are in our 50s and have $11 million. We're not leaving it to our kids. Is that wrong? You could receive up to $7,500 from the AT&T settlement. Here's how class-action suits work. But would you want to? The executive order allows ordinary retirement savers to invest in private assets and cryptocurrency. This will expand investment options for anyone with a 401(k) or similar tax-advantaged retirement plan. It is a big deal — opening part of America's $12.4 trillion defined-contribution market to private-asset managers. The largest private-equity firms and other asset managers are salivating at the opportunity to pitch this untapped market of retirement savers. Private assets encompass a range of investments that do not trade on a public exchange. Examples include hedge funds, private equity, private credit and infrastructure. The case for private assets is they can provide a buffer against inflation — plus steady returns. The downsides include high fees, illiquidity and complexity. The nation's biggest asset managers welcome the executive order. They want to develop funds that make private assets easier for people to buy, and argue that the added diversification serves savers' best interests. Larry Fink, chief executive of BlackRock BLK, says retirement savers should replace the traditional 60% stocks/40% bonds asset-allocation model with a 50/30/20 split: 50% stocks, 30% bonds and 20% private assets. Read: Larry Fink proposes an alternative to the 60/40 portfolio. It means more fees. Should you be excited about this widening menu of investment choices? It depends on whom you ask. Some investment professionals like the idea of making private assets more available to more people. 'Historically, a number of private-market strategies have produced higher performance and additional diversification in defined-benefit pensions,' says Peter von Lehe, head of investment solutions and strategy at Neuberger Berman. 'It's appropriate that a broader range of investors have access to private assets in their defined-contribution plans because of the potential for return and diversification that these long-term investments can provide.' However, von Lehe cautions that these investments are illiquid and 'have a higher degree of complexity.' He says his 'most appropriate use case' for private-market investments is through professionally managed target-date funds or other funds that allocate a percentage of defined-contribution money to these complex but potentially more lucrative alternatives. Read: Here's something the rich know about managing investment risk that can help you, too Financial advisers have differing views on the role of private assets in client portfolios. Steven Roge, a certified financial planner in Bohemia, N.Y., says private markets are not for everyone. 'It's for people in the wealth-accumulation phase, say 40 to 50 years old, who have a long time horizon and a high risk tolerance,' Roge says. 'And they have to be sophisticated enough to understand it. We know if they don't understand it, they may not stick with it.' Of the firm's 300 clients, he says that 'only about a dozen' fit the bill for adding private-market assets to their retirement accounts. Even with the expanded investment options that may result from the White House's action, Roge remains a fan of passive strategies for most investors. 'Indexing is how they will win over the long run,' he says. 'But some clients want something that's special and different' as they seek market-beating returns. Given the illiquidity of private assets, Roge anticipates setting expectations for those clients who tend to monitor their portfolio daily — and who engage in frequent trading. 'These private investments may only price four times a year,' Roge says. 'That's not enough action for certain clients who track their portfolio like a hawk.' In his personal portfolio, Roge uses private markets — especially private equity — to diversify his holdings. He says he allocates about 25% to alternative assets. 'It helps me sleep at night knowing my portfolio isn't being pushed around by the volatility of public markets,' he says. Roge adds that he is not concerned about the current high valuations of private-equity funds. 'The valuations [of private-equity funds] are more realistic than the erratic valuations we see in public markets on a daily basis,' he says. Other advisers are more skeptical of the White House executive order. 'It's less being done out of interest for the general public and more for private industry lobbying the [Trump] administration,' says Alex Ruda, an adviser in Silver Spring, Md. The executive order undoubtedly pleases asset managers and private-equity firms. For years, they've wanted to attract retirement savers' money. These savers bear primary responsibility for managing their 401(k) compared with today's older retirees, many of whom receive employer-funded defined-benefit pensions. While some younger savers enjoy picking their investments, others dread it. 'The average American worker isn't equipped to navigate these complex [private-market] investments,' Ruda says. 'And they may fall prey to a little performance chasing given where we are in the market cycle' — as private markets have outperformed publicly traded stocks since 2000. Ruda feels so strongly about not incorporating private assets into client portfolios that he's willing to forgo newcomers who express such interest. 'If I wanted to broaden my client base, I'd have to play to what they want,' he says. 'But I don't have to do that. So I'd say to them, 'I'm not the best fit.'' Read next: Here's what it's like to invest in private equity — and why you don't want it in your 401(k) More: As private equity enters retirement plans, is it too dangerous for average investors to jump in? I'm a senior who barely survives on $1,300 a month. No way could I live on $1,000. 'I am a senior citizen': My car needs $3,500 for repairs, but only has a trade-in value of $6,000. Do I bother fixing it?
Newsweek
20 minutes ago
- Newsweek
Teachers To Be Tested on 'Woke' Questions in Oklahoma
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. Oklahoma Superintendent for Public Instruction Ryan Walters has introduced a new test for teachers coming into his state from California and New York in a bid to keep out what he called "woke indoctrination." Walters said his tests, compiled in association with conservative educational group PragerU, could be extended in the future to teachers from eight other Democratic-led states. Newsweek contacted Walters and PragerU for comment on Saturday outside regular office hours via their respective online inquiry forms. Why It Matters Since his second presidential inauguration in January, President Donald Trump has taken a number of steps to combat what he terms "woke" ideology, including issuing an executive order saying there were only two genders—male and female—and cutting funding to universities that refuse to dismantle diversity, equity and inclusion programs. While state-level Republicans have worked to support the president's agenda, some traditionally Republican regions have recorded a significant influx of new residents from Democratic states in recent years—sparking fears that the population changes could shift red states' cultural and political identities. According to a report from StorageCafe, which rents storage units, California and New York saw the most departures in 2023. By contrast, nine of the 10 states with the largest population influx, including Oklahoma, were Republican dominated. What To Know Teachers moving to Oklahoma from California and New York will be required to pass a new test to obtain a teaching certificate for Oklahoma, according to Walters, who told CNN the move was designed to keep away "woke indoctrination." The network reported that the test was developed in association with PragerU, a conservative educational body that has acquired a large audience online and is sympathetic to the Trump administration. A stock photograph showing an American classroom in 2016. A stock photograph showing an American classroom in 2016. Elliott Kaufman/GETTY The test includes questions on the biological difference between men and women, the importance of religious freedom to American identity, and the U.S. government and political system, the New York Post reported. In recent years, about 500 new teachers have moved to Oklahoma as part of an incentive program designed to attract the "highest quality" educators. CNN said Walters declined to let the Oklahoma State Board of Education see a document on the legal status of his tests during a meeting in July. What People Are Saying The American Federation of Teachers told Newsweek: "Ryan Walters appears to be auditioning for the role of MAGA-in-chief, not educator-in-chief. His priority should be educating students, but it's not. It's getting Donald Trump and other MAGA politicians to notice him and think of him as their culture warrior. "This test will be yet another turnoff for teachers in a state that already has a huge shortage. It doesn't solve an actual problem in the classroom, but it certainly serves as a major distraction in the media as he deals with personal problems. "Teachers are patriotic, and they don't need a loyalty test from Ryan Walters to prove it. Whether they are conservative or liberal, they want what their students need: safe and welcoming public schools that are engaging and relevant and that prepare students for college, career and life." Oklahoma Superintendent for Public Instruction Ryan Walters told CNN: "We will not allow these leftists' plans and schemes to take place here in Oklahoma. They are trying to warp the minds of our kids to turn them into social justice warriors, instead of kids that are getting the most of their god given talents to go get a good job, to go live a fulfilling life." He told the New York Post: "Here in Oklahoma, our academics are going to be grounded in fact. "We've seen states like New York and California go so radical with gender theory and Marxist indoctrination, they are warping the minds of young people. … We need our teachers to agree to not be woke indoctrinators in the classroom. "We're also going to be teaching the foundations of American history. … So we can continue to be the greatest country in the world. We want our students to be patriots." PragerU CEO Marissa Streit told CNN that the questions were aimed at "undoing the damage of gender ideology that is forced and taught through some of these other tests like the PRISM test." PRISM is a training program created to help teachers support LGBTQ+ students in California. Oklahoma Democratic Party Chair John Waldron, a former teacher, told the outlet that Walters' plan was a "loyalty test" and an "insult to our profession." What Happens Next If Walters goes ahead with his tests, they are likely to face legal challenge. If they pass the courts, it remains to be seen what effects they will have on Oklahoma's education system and whether they will be extended to teachers coming from beyond New York and California.
CBS News
20 minutes ago
- CBS News
Trump administration to more heavily scrutinize "good moral character" requirement for U.S. citizenship
The Trump administration is signaling it will more heavily scrutinize applications filed by legal immigrants seeking American citizenship, in its latest effort to tighten access to U.S. immigration benefits. U.S. Citizenship and Immigration Services, the federal agency overseeing the country's legal immigration system, instructed officers on Friday to consider additional factors when determining whether immigrants applying for U.S. citizenship have a "good moral character." Typically, legal immigrants with U.S. permanent residency, also known as a green card, can apply for naturalized American citizenship after a 3- or 5-year period, depending on their case. Demonstrating "a good moral character" has long been one of the requirements in U.S. immigration law for American citizenship, alongside passing English and civics tests. For decades, under Republican and Democratic administrations, the "good moral character" assessment has generally been satisfied if applicants don't have any of the criminal offenses or disqualifying conduct outlined in U.S. immigration law. Those disqualifying factors range from violent crimes like murder and aggravated felonies to drug offenses and being a "habitual drunkard." But a policy issued Friday by USCIS expands the "good moral character" assessment, saying that determination must involve "more than a cursory mechanical review focused on the absence of wrongdoing." Instead, the review, the agency told its officers, should be "a holistic assessment of an alien's behavior, adherence to societal norms, and positive contributions that affirmatively demonstrate good moral character." The directive orders officers to place a "greater emphasis" on applicants' "positive attributes and contributions," listing community involvement, family caregiving and ties, educational attainment, "stable and lawful" employment, the length of time spent in the U.S., and paying taxes as some of those factors. The memo also mandates "greater scrutiny" of factors that show applicants lack a "good moral character," beyond the crimes and disqualifying conduct detailed in U.S. immigration law. Those factors, the policy said, include "acts that are contrary to the average behavior of citizens in the jurisdiction where aliens reside," including actions that are "technically lawful" but also "inconsistent with civic responsibility within the community." USCIS listed "reckless or habitual traffic infractions, or harassment or aggressive solicitation" as some of those actions. Lastly, the new USCIS policy instructs officers to weigh factors that could show that applicants who have engaged in wrongdoing have rehabilitated, such as complying with probation, paying overdue taxes or child support and receiving letters of support from their community. Over the past decade, the U.S. government has naturalized between 600,000 and 1 million immigrants as citizens annually, USCIS figures show. In a statement to CBS News, USCIS chief spokesman Matthew Tragesser said the directive is another effort by President Trump's administration to "restore integrity" to the U.S. immigration system. "U.S. citizenship is the gold standard of citizenship — it should only be offered to the world's best of the best," Tragesser added. "Today, USCIS is adding a new element to the naturalization process that ensures America's newest citizens not only embrace America's culture, history, and language but who also demonstrate Good Moral Character." Doug Rand, a former senior USCIS official during the Biden administration, suggested the Trump administration's policy is designed to scare legal immigrants from applying for American citizenship and require officers to put their "thumb on the scale" to find more reasons to deny applications. "They're trying to increase the grounds for denial of U.S. citizenship by kind of torturing the definition of good moral character to encompass extremely harmless behavior," Rand said, citing the policy's reference to traffic infractions. While the Trump administration has launched a highly visible crackdown on illegal immigration by deploying thousands of troops to the southern border, expanding immigration raids across the country, and fast-tracking deportations of those in the U.S. illegally, it has simultaneously moved to restrict legal immigration, with less fanfare. The Trump administration has virtually shut down refugee admissions, terminated Biden-era programs that allowed migrants to enter the U.S. legally, limited visas for certain countries and implemented aggressive vetting procedures for legal immigration benefits. Those efforts include expanded vetting of social media activity of legal immigrants and stricter screening requirements for some applications.
