Latest news with #BigUglyBill
Euractiv
16-07-2025
- Business
- Euractiv
Cohesion crunch: Europe's regions brace for loss of catch-up funds
Commission plan sidelines regions from EU funding decisions. Euractiv is part of the Trust Project Nikolaus J. Kurmayer Euractiv Jul 16, 2025 06:00 4 min. read News Based on facts, either observed and verified directly by the reporter, or reported and verified from knowledgeable sources. Regional authorities are set to lose control over billions in EU funds, as the European Commission is set to dismantle a decade-old policy that gave them a direct role in shaping how cohesion money is spent. After receiving a third of the EU budget for decades, regional chiefs are in for a rough awakening. On Wednesday, the Commission will unveil the radical overhaul of the €300 billion-plus cohesion policy, originally designed to help poorer regions catch up. 'From behind the smoke of simplification and efficiency, a 'Big Ugly Bill' will emerge,' warned Kata Tüttő, the president of the EU's regional representation body, in early July. According to a draft law seen by Euractiv , t he policy will be reshaped in four ways that 'increasingly blur its fundamental principles,' Sabrina Repp, an S&D MEP from Germany who focuses on the catch-up funds, told reporters on Tuesday. What could change Capitals in charge. Regional authorities, currently allowed to negotiate directly with Brussels, would be de facto cut out of the decision-making process. Instead, regions would pitch projects to their respective national capital. Country-first allocations. Rather than distributing funds to the EU's 244 regions based on how far they lag behind the bloc's average, the catch-up funds will be assigned to countries based on their GDP average. Southern Italian regions, for example, are economically poorer than their northern counterparts, but they would receive less under the new rules because of Italy's overall GDP. New strategic priorities. An April review of the catch-up funds, which had hardly been spent up to that point, introduced a host of new priorities: defence, affordable housing, water resilience, energy, and Eastern border countries and cities – all of which compete with the original goal of boosting laggard regions. Big firms over SMEs. The review also stressed the need to stop supporting just small-and medium-sized enterprises (SMEs) in lieu of bolstering larger firms. "With the cake staying the same size, big firms stand to benefit at the expense of SMEs," said a Parliament source, speaking candidly, calling the move a major shift. Big firms are more competitive, the Commission's thinking goes. 'This mid-term review marked the beginning of a fundamental restructuring of cohesion policy,' explained Repp. A coalition of majors and cities backing the policy, gathered under the banner of the 'Cohesion Alliance' are already looking to 2026, having failed to avert the Wednesday proposal that one member described as 'doomsday." "We are mobilised to fight for a strong Cohesion Policy after 2027,' reads an email seen by Euractiv addressed to 'Cohesion advocates' all over Europe. Cohesion policy problems Not everyone is expected to mourn the possible dismantling of cohesion policy. The Germans, who contribute the biggest share of the EU's seven-year budget, have long considered an overhaul inevitable . As it stands, the policy " is clearly overfunded and ineffective in many recipient regions with weak institutions, like southern Europe,' said Friedrich Heinemann, an analyst at the Centre for European Economic Research (ZEW). For Heinemann, the very premise of the policy is flawed. 'The EU's promise of catching up is primarily based on the single market,' he explained, suggesting Eastern Europe's economic gains were driven not by cohesion transfers but by "competitive" integration into the bloc's internal market. A 2023 study also shows that while cohesion funds do boost growth, most of the money goes to the rich in poor regions, widening inequality gaps. Thomas Schwab, a researcher at the Bertelsmann foundation, fears that the Commission's proposal which 'focuses only on the wealthiest regions' will inevitably 'weaken the core of the European idea.' 'What is currently being presented as 'flexibilisation' often means in practice a watering down and thus a weakening of this essential pillar of the EU.' (mm) Euractiv is part of the Trust Project
Fox News
07-07-2025
- Business
- Fox News
The battle over the 'big, beautiful bill' moves from Capitol Hill to the campaign trail
The House Democrats' campaign arm on Monday announced it's going up with digital ads targeting GOP lawmakers over their support for the sweeping Republican-crafted domestic policy package. The move comes three days after President Donald Trump signed into law what he and Republicans call the "big, beautiful bill." The ads, backed by a modest buy, will target 35 Republican-controlled House districts that Democrats are trying to flip in next year's midterm elections, when the GOP will be defending their razor-thin majority in the chamber. Don't be surprised if the ads by the Democratic Congressional Campaign Committee (DCCC), which calls the GOP's massive measure "the Big, Ugly Bill," are quickly followed by ads from Republicans taking aim at Democrats. With the legislative battle over the "big, beautiful bill" finished, and Trump and congressional Republican leaders victorious, the campaign trail war is now underway over the controversial measure, which many of the most recent public opinion polls suggest is not very popular with Americans. "Every Democrat voted to hurt working families and to protect the status quo," argued a memo from the National Republican Congressional Committee (NRCC), released minutes after the final House passage of the bill last Thursday. And the NRCC, which is the campaign arm of the House GOP, emphasized that "House Republicans will be relentless in making this vote the defining issue of 2026." The new law is stuffed full of Trump's 2024 campaign trail promises and second-term priorities on tax cuts, immigration, defense, energy and the debt limit. It includes extending his signature 2017 tax cuts and eliminating taxes on tips and overtime pay. By making his first-term tax rates permanent – they were set to expire later this year – the bill will cut taxes by nearly $4.4 trillion over the next decade, according to analysis by the Congressional Budget Office and the Committee for a Responsible Federal Budget. The measure also provides billions for border security and codifies the president's controversial immigration crackdown. Republicans are pointing to what they say is strong support for the measure due to the tax cuts. NRCC chair Rep. Richard Hudson of North Carolina, in an opinion piece published on Friday morning, charged that House Democrats "rejected common sense" by voting against the bill. "And we will make sure each one of them has to answer for it," he vowed, as he pointed to next year's congressional elections. But the bill also restructures Medicaid – the nearly 60-year-old federal program that provides health coverage to roughly 71 million low-income Americans. The changes to Medicaid, as well as cuts to food stamps, another one of the nation's major safety net programs, were drafted in part as an offset to pay for extending Trump's tax cuts. The measure includes a slew of new rules and regulations, including work requirements for many of those seeking Medicaid coverage. And the $3.4 trillion legislative package is also projected to surge the national debt by $4 trillion over the next decade. House Minority Leader Hakeem Jeffries, D-N.Y., charged that "extreme House Republicans just approved the largest cut to Medicaid and food assistance in American history to fund tax breaks for their billionaire donors." And DCCC chair Rep. Suzan DelBene, D-Wash., pledged that "the DCCC will make sure every battleground voter knows how vulnerable House Republicans abandoned them by passing the most unpopular piece of legislation in modern American history, and we're going to take back the House majority because of it." The battle over the bill is also playing out in Senate races. "I'm deeply concerned about this bill and what this will do. We're going to be talking a lot about it," Democratic Rep. Chris Pappas of New Hampshire told Fox News Digital on Friday. Pappas, who's running in the crucial 2026 race to succeed retiring longtime Sen. Jeanne Shaheen for a Democratic-held seat Republicans would love to flip, took aim at the bill. "This was a one-party effort and, unfortunately, it arrived at a conclusion that I think is not good for our state and for our country." "We're going to be talking about this bill because the results are that 46,000 people in New Hampshire will lose their health insurance. We'll have people that will go hungry, that won't be able to access assistance," Pappas warned. "And we know that insurance premiums for all Granite Staters could go up as a result of uncompensated care costs and the burden that this places on our hospitals." But former Sen. Scott Brown, who last month launched a Republican campaign for the Senate in New Hampshire, sees things differently. Asked about criticism from Democrats on the Medicaid cuts, Brown said, "My mom was on welfare. Those are very important programs and I've said already that the people that actually need them the most, the ones who are disabled, the ones who can't get out and work, they should have them." "It's meant for lower- and middle-income people and I support them getting those benefits. But I don't support those who are here illegally getting them," Brown said. And he added that he doesn't support giving the benefits to "people who are able-bodied and can absolutely go out and do some volunteerism, go out and work."
Newsweek
02-07-2025
- Climate
- Newsweek
Severe Weather Throws Wrinkle in 'Big, Beautiful Bill' Vote
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. Severe weather including "torrential rainfall" and thunderstorms in the mid-Atlantic and Northeast has snarled travel Tuesday, prompting flight delays and cancellations for House lawmakers racing back to D.C. to vote on the massive and much-debated financial package dubbed the "big, beautiful bill" by President Donald Trump. Newsweek reached out to the National Weather Service (NWS) via email Tuesday for comment. Why It Matters The legislative package has been promoted as a cornerstone of Trump's domestic agenda, seeking to ensure government continuity while broader debates over spending and executive authority continue. In a closely divided House, even minor absenteeism could fundamentally alter the outcome, exerting immense pressure on lawmakers to be present regardless of personal travel obstacles. On Tuesday after a marathon vote, the Senate narrowly passed the bill with a tiebreaking vote from Vice President JD Vance, sending it back to the House for final passage. What To Know As storms swept the regions, commercial airline cancellations climbed Tuesday into the evening. Representative Nancy Mace, a South Carolina Republican, wrote on X, formerly Twitter Tuesday, "All flights to Washington, DC from Charleston tonight have been canceled due to weather." She wrote in another post, "Both my flights to DC, one for tonight and one for early tomorrow morning have been canceled by the airline. *sigh* Scrambling to find a way to get to DC in time to vote for the Big Beautiful Bill. 🇺🇸" Republican Congressman Russell Fry of South Carolina posted a video on X describing a similar snag: "I was supposed to be on a plane actually headed to Washington, D.C. tonight to vote on the one big, beautiful bill tomorrow in the House or this week, but flights up and down the East Coast are being cancelled." Fry added that he was getting in the car to drive to the nation's capital, saying in part, "the moment is too important." Democratic Congressman Mark Pocan of Wisconsin shared a similar travel story on Tuesday on X, saying, "My flight to DC was canceled so I'm driving to Chicago to catch a 6AM flight because I refuse to miss voting NO on the Big Ugly Bill!" Congressman Raja Krishnamoorthi, an Illinois Democrat, on X said his flight was also canceled on Tuesday. He said he will drive to D.C. while hosting a virtual town hall from the car. According to Flight Aware's misery map, the D.C. area experienced 95 delayed and 79 canceled flights as of 9:01 p.m. ET Tuesday. Politico first reported the travel obstacles experienced by lawmakers. A flight departure information board is shown on July 23 at Ronald Reagan Washington National Airport in Arlington, Virginia. (Photo by AARON SCHWARTZ/Middle East Images/AFP via Getty Images) A flight departure information board is shown on July 23 at Ronald Reagan Washington National Airport in Arlington, Virginia. (Photo by AARON SCHWARTZ/Middle East Images/AFP via Getty Images) What People Are Saying NWS Baltimore-Washington posted to X on Tuesday: "A Severe Thunderstorm Watch is in effect until 9 PM EDT for the District Of Columbia, DE, MD, NJ south-central/southeast PA, northern/central VA, eastern WV Panhandle, and adjacent coastal waters. The main hazard will be damaging wind. More info: Trump, on Truth Social Tuesday after the Senate pushed the bill through: "Almost all of our Great Republicans in the United States Senate have passed our 'ONE, BIG, BEAUTIFUL BILL.' It is no longer a 'House Bill' or a 'Senate Bill'. It is everyone's Bill. There is so much to be proud of, and EVERYONE got a major Policy WIN — But, the Biggest Winner of them all will be the American People, who will have Permanently Lower Taxes, Higher Wages and Take Home Pay, Secure Borders, and a Stronger and More Powerful Military. Additionally, Medicaid, Medicare, and Social Security Benefits are not being cut, but are being STRENGTHENED and PROTECTED from the Radical and Destructive Democrats by eliminating Waste, Fraud, and Abuse from those Programs." Trump continued, "We can have all of this right now, but only if the House GOP UNITES, ignores its occasional 'GRANDSTANDERS' (You know who you are!), and does the right thing, which is sending this Bill to my desk. We are on schedule — Let's keep it going, and be done before you and your family go on a July 4th vacation. The American People need and deserve it. They sent us here to, GET IT DONE!" "Our Country is going to explode with Massive Growth, even more than it already has since I was Re-Elected," the president said. "Between the Growth, this Bill, our Tariffs, and more, 'THE ONE, BIG, BEAUTIFUL BILL' sets the United States down a fiscal path by greatly reducing our Federal Deficit, and setting us on course for enormous Prosperity in the new and wonderful Golden Age of America. To my GOP friends in the House: Stay UNITED, have fun, and Vote 'YAY.' GOD BLESS YOU ALL!" What Happens Next Flight schedules and weather conditions for lawmakers' return to D.C. remain variable as of Tuesday evening as the House weighs its final vote on the legislation.
San Francisco Chronicle
30-06-2025
- Business
- San Francisco Chronicle
‘Big Ugly Bill': California's top officials excoriate Trump's big bill while it is debated in Senate
California's top Democrats condemned President Donald Trump's signature domestic policy package Sunday, as the U.S. Senate continued to debate its version of Trump's 'big, beautiful bill.' The legislation is a vast array of tax breaks and spending cuts, plus additional money for national defense and deportations, that Republicans say are crucial to keeping the country running. Democrats, however, have said it will destroy state budgets and lives, particularly among the most vulnerable who rely on government-funded programs. 'Millions will lose health care. Hundreds of thousands of jobs will be lost. Electricity costs will skyrocket. Needy families will lose access to food,' Gov. Gavin Newsom posted on the social media platform X on Sunday. 'The GOP's budget bill does all that so @realDonaldTrump can give hundreds of billions in tax breaks to his rich friends.' 'Late last night, Senate Republicans voted to advance Trump's Big Ugly Bill that strips health care from nearly a million people MORE than the version passed by the House,' California Sen. Alex Padilla also posted to X on Sunday. 'All to give tax breaks to big corporations and billionaires.' As of Sunday night, Senators were still debating the measure, which Trump had wanted to sign by July 4. The bill must still win final House approval, as well. The Associated Press reported Sunday that a new analysis from the nonpartisan Congressional Budget Office estimated that the Senate bill would increase the deficit by nearly $3.3 trillion from 2025 to 2034, which is nearly $1 trillion more than the House-passed bill. The office also concluded that nearly 12 million Americans would lose their health insurance by 2034 if the bill becomes law. The legislation would make permanent many of the tax breaks from Trump's first term that were set to expire by year's end, while adding new breaks, leading to a total of $4 trillion in tax cuts. The Senate package would also roll back billions in green energy tax credits and impose roughly $1.2 trillion in cuts, mostly to Medicaid and food assistance, while committing $350 billion to national security, part of which would pay for Trump's mass deportation agenda, according to the Associated Press. California Democrats have warned that the cuts, particularly to Medicaid, would decimate federal spending by imposing more checks on enrollees and providers, establishing work requirements and reducing funding to states that provide insurance to undocumented immigrants. To compensate, state lawmakers have said that states will need to raise taxes and shift funds from other programs. More than a quarter of Californians are on the state's Medicaid program, including 41% of all children, 49% of adults with disabilities and 41% of people living in nursing homes. Throughout the weekend, California representatives turned to X to weigh in. On Sunday, California Sen. Adam Schiff said that Trump's 'Big Ugly Bill' would strip health insurance away from millions of people while driving up energy costs. 'The longer this bill exposed to the sunlight,' U.S. Rep. Lateefah Simon, D-Oakland, wrote on Saturday. 'The more people will be able to see what this Republican disaster really is: an unforgivable betrayal of American values and governance that will cause significant, tangible harm to millions of people nationwide for years to come AND disproportionately impact communities of color, the disability community, and seniors.' 'GOP Senators whose states will be screwed by Trump's budget bill are now cutting side deals, eg, exempt Alaska from SNAP work requirements & give $ to rural hospitals,' State Sen. Scott Wiener, D-San Francisco, also wrote. 'All in service of kicking tens of millions off health care & food assistance to fund tax cuts for rich people.'
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First Post
12-06-2025
- Automotive
- First Post
Why Elon Musk's apology to Trump was a good business decision
Last week, Tesla CEO Elon Musk claimed that Donald Trump, whom he endorsed for president and gave hundreds of millions of dollars in campaign contributions, was part of the files linked to Jeffrey Epstein. This week, Musk has backed down, saying his posts against Trump 'went too far'. Post the apology, Tesla shares rose, and Musk's net worth increased by $191 million read more Tesla CEO Elon Musk has backtracked this week, apologising and saying his posts against Donald Trump 'went too far'. AP Last week, Elon Musk made a serious allegation against US President Donald Trump. The Tesla CEO and richest man in the world claimed that Trump, who he endorsed for president and to whom he gave hundreds of millions of dollars in campaign contributions, was part of the files linked to Jeffrey Epstein. Epstein, the disgraced financier and convicted sex offender, killed himself in prison in 2019. However, Musk quickly backtracked this week, apologising and saying his posts against 'went too far'. STORY CONTINUES BELOW THIS AD Musk's apology also came ahead of a major product launch for Tesla next week. But how did the feud escalate? And how has his apology has been good for business? Let's take a closer look How the feud escalated It began with Trump and Musk having a fallout over the Republican president's 'big, beautiful bill'. 'I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it,' Musk wrote on X on June 3. Trump, two days later, during a meeting in the Oval Office with Germany's new leader, said he was 'very disappointed' with Musk's comments. 'Elon knew the inner workings of this bill better than almost anybody sitting here,' Trump said. 'Elon and I had a great relationship. I don't know if we will anymore.' 'He hasn't said bad about me personally, but I'm sure that will be next,' Trump said. 'But I'm very disappointed in Elon. I've helped Elon a lot.' 'False,' Musk hit back immediately on X even as Trump continued to speak. 'This bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!' STORY CONTINUES BELOW THIS AD When Trump further said he would have 'won Pennsylvania easily' without Musk's help, The Tesla CEO responded immediately. Musk, remember, spend hundreds of millions of dollars to elect Trump including a $1 million a day giveaway in Pennsylvania. Musk responded that Trump would have lost the election without him and that the Democrats would control both the House and the Senate. Donald Trump said he was 'very disappointed' with Elon Musk. Reuters 'The Big Ugly Bill will INCREASE the deficit to $2.5 trillion!' Musk added. Musk then put up a poll asking his followers if it was time to create a new political party – one that represented the 80 per cent of Americans in the middle. Musk then pointed out that he would be around for a lot longer than Trump. 'Oh and some food for thought as they ponder this question: Trump has 3.5 years left as President, but I will be around for 40+ years…' Trump then launched an all-out assault on Musk. 'I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!' Trump wrote on social media. STORY CONTINUES BELOW THIS AD Trump also threatened Musk's government subsidies and contracts. He wrote, 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!' 'Such an obvious lie. So sad,' Musk responded. Then came the big bombshell accusation. Musk claimed Trump appeared in the Jeffrey Epstein files . 'Files linked to the investigation of convicted sex offender Jeffrey Epstein have emerged as a point of fixation for Trump and his allies and right-wing media figures,' Musk wrote. 'Time to drop the really big bomb: Donald Trump is in the Epstein files. That is the real reason they have not been made public.' 'Mark this post for the future. The truth will come out,' Musk added. On June 6, the White House claimed that the two men were said to have a phone call to clear the air. However, Trump, in his usual fashion put paid to that telling ABC he was 'not particularly' interested in speaking to Musk. STORY CONTINUES BELOW THIS AD 'I'm not even thinking about Elon. He's got a problem. The poor guy's got a problem,' Trump said. Musk backs down Trump's threats against Musk's subsidies and government contracts seemed to have worked. Musk on Wednesday back down from his claims. 'I regret some of my posts about President @realDonaldTrump last week. They went too far,' Musk wrote on X early Wednesday morning. This came after Musk made a private phone call to Trump. The development came after Musk and Trump allies including Vice President J Dance and White House Chief Suzie Wiles privately met to discuss a truce. SpaceX headquarters is shown in Hawthorne, California. The company receives billions of dollars in revenue every year in government contracts. Reuters Trump, for his part, appeared pacified by the apology. 'I thought it was very nice that he did that,' Trump told the New York Post. 'Look, I have no hard feelings,' Trump said. 'I was really surprised that that happened. He went after a bill that's phenomenal. …He just — I think he feels very badly that he said that, actually.' 'The President acknowledged the statement that Elon put out this morning and he is appreciative of it and we are continuing to focus on the business of the American people,' the White House said in a statement. STORY CONTINUES BELOW THIS AD How has Musk's apology been good for business? According to Forbes, Musk's net worth rose to $411.4 billion after the apology – an increase of $191 million. This came as, Tesla's shares, which had tanked 14 per cent in the middle of the feud, gained around 1 per cent on Wednesday. The spat between the two men had caused Musk around $34 billion of his net worth – which makes given that SpaceX and Tesla, which form a huge chunk of his net worth, are hugely dependent on government contracts and subsidies. Investors in Musk's companies would now be heaving a sigh of relief after his apology to Trump. Now, with both men seemingly on a path to reconciliation, Musk can keep financing Trump and the Republicans' political ambitions and the government money can keep flowing for both SpaceX and Tesla. With inputs from agencies
