Latest news with #D-OR
Mint
26-06-2025
- Business
- Mint
Senate Parliamentarian blocks key Medicaid cuts in Trump's tax bill, jeopardizing July 4 deadline
The Senate parliamentarian delivered a crucial setback to Republicans on Thursday, ruling that a core Medicaid provider tax overhaul in President Donald Trump's sweeping tax-and-spending bill violates Senate procedural rules. The provision, intended to save $250 billion by slashing state taxes on hospitals and health providers, was a linchpin in offsetting the bill's trillions in tax breaks, primarily benefiting corporations and wealthy Americans. With Democrats uniformly opposed, Republican leaders must now scramble to revise or remove the provision entirely, as defying the nonpartisan parliamentarian's guidance is virtually unprecedented. The ruling intensifies pressure on GOP senators racing against Trump's July 4 deadline for passage, with the bill's fate now hanging in the balance. The fallout extends beyond Medicaid: The parliamentarian also rejected GOP measures blocking immigrants from healthcare programs and restricting gender-affirming care under Medicaid, further eroding the bill's planned savings. Republican leaders had leaned heavily on these health cuts to fund permanent extensions of Trump's 2017 tax cuts, which expire this year. Senate Finance Chair Ron Wyden (D-OR) hailed the rulings as a victory, stating they excised 'morally bankrupt' cuts threatening vulnerable Americans. Yet for Republicans, the decisions risk ballooning the bill's deficit impact, which the Congressional Budget Office already estimated at $2.8–$3.4 trillion over a decade. Even before the parliamentarian's ruling, the Medicaid cuts faced fierce resistance within the GOP. Senators Josh Hawley (R-MO), Susan Collins (R-ME), and Thom Tillis (R-NC) warned the provider tax reductions would cripple rural hospitals reliant on those funds—potentially triggering closures in their states. Hawley revealed Trump personally directed him late Wednesday to revert to the House's milder approach (freezing provider taxes instead of cutting them), signaling disarray in Republican strategy. Hospital associations nationwide echoed alarms, predicting the Senate's deeper cuts would 'wipe out balance sheets' and devastate healthcare access. To placate critics, Senate GOP leaders floated a $15 billion rural hospital fund as a safety net. But Collins demanded at least $100 billion, calling the initial figure woefully inadequate, while fiscal hawks like Sen. Rick Scott (R-FL) deemed even $15 billion excessive. Tillis, facing reelection in battleground North Carolina, bluntly warned colleagues the cuts could cost Republicans the 2026 midterms, comparing the political fallout to Democrats' Obamacare implosion in 2014. Meanwhile, House Republicans from New York and California threatened to sink the bill over unrelated state tax (SALT) disputes, highlighting the fragile coalition. With the parliamentarian's decision constraining GOP options, Republican leaders now face three untenable choices: strip the Medicaid provisions, revise them to comply with rules (a complex task under time pressure), or force a floor vote requiring 60 senators to override objections, a near-impossible threshold given Democratic unity. The ruling also undermines Trump's ultimatum for passage by July 4, though Majority Leader John Thune (R-SD) insisted Republicans have 'contingency plans' and are 'plowing forward.' Treasury Secretary Scott Bessent added urgency by noting the U.S. is nearing its debt limit deadline in August, complicating the timeline further. As the Senate grinds toward potential weekend votes, human stakes underscore the policy clash. In Missouri, mother Courtney Leader told CNN her 9-year-old daughter with cerebral palsy relies on Medicaid for life-sustaining care: 'Without Medicaid, we would lose everything, our home, our vehicles, and eventually, our daughter.'
Int'l Business Times
25-06-2025
- Politics
- Int'l Business Times
Pam Bondi Repeatedly Dodges Questions About Trump's Crypto and Potential Foreign Influence
US Attorney General Pam Bondi refused to answer questions regarding whether or not President Donald Trump's decisions were being influenced by foreign actors in possession of the President's crypto currency. Bondi appeared before the Senate Appropriations Subcommittee where she testified at a hearing regarding the President's budget request on Wednesday. During the hearing, she was questioned on foreign influences to Trump's decision-making by Senator Jeff Merkley (D-OR). "I know you avoided the same question on the house side," Merkley asked, "but what we know is that many folks who attended this dinner were buying those claims because they wanted to influence policy." Israeli security forces deploy in the occupied West Bank town of Huwara after the death of two Israelis in a shooting AFP "This solicitation of investments in his personal product led to many people from foreign countries attending the dinner. Don't you think the American people have a right to know? You said yourself you're very concerned about foreign influence on our government?" he continued. "Senator, it's wildly offensive that you would accuse President Trump of not protecting American interests in our country," Bondi responded, adding that "we are here to talk about the budget." "Will you appoint a special investigator to make sure that foreign influence does not affect the policies of the United States of America?" Merkley asked. "I'm not going to tell you what I will or will not do," Bondi said. "I will do everything to keep the people of your state safe even though you don't want to talk about anything to do with your state because of the crime in your state." She continued to express frustration at Merkley's line of questioning, accusing him of posing "gotcha questions" at her. "The attorney general certainly has made the point that she's very concerned about issues I'm concerned about as well regarding the security of the country," Merkley said. "But let the record know in terms of foreign influence of the sale of foreign influence she absolutely refuses to respond and instead turns to a whole list of different topics." Originally published on Latin Times
Int'l Business Times
16-06-2025
- Politics
- Int'l Business Times
Trump 'Promoted This Type of Environment,' Democratic Senator Declares Following Minnesota Assassination
In the wake of a politically motivated assassination in Minnesota, Sen. Jeff Merkley (D-OR) called out President Donald Trump, saying the current climate of intimidation and violence is the result of rhetoric Trump has amplified. "I feel like Trump has really popped the lid off the rhetoric and the sense of hate and violence and promoted this type of environment," Merkley said on CNN. "It's profoundly disturbing, for all of us." BREAKING: Senator Jeff Merkley blames President Trump for the shooting of Minnesota lawmakers "Trump has really popped the lid off of the rhetoric and the the sense of hate and violence, and promoted this type of environment. It's profoundly disturbing." — Eric Daugherty (@EricLDaugh) June 16, 2025 Merkley cited a growing number of intimidation tactics used against lawmakers and their families, including so-called "pizza threats"—where unsolicited food deliveries are sent as a way of saying, "we know where you live." "My heart goes out to the families in Minnesota," Merkley added. "How horrific for the whole country, but particularly we're holding the folks in Minnesota in our hearts." The comments come amid a broader national reckoning with political violence following the assassination of Democratic Minnesota state Rep. Melissa Hortman and her husband on Saturday. The suspect, Vance Luther Boelter, allegedly traveled from Hortman's residence to that of state Sen. John Hoffman —also a Democrat — where the senator and his wife sustained multiple gunshot wounds. Hoffman and his wife are recovering from surgery. Boelter initially escaped but was taken into custody Sunday evening. Merkley did not refer to specific rhetoric or behaviors connecting Trump to the political violence, but is a vocal critic of Trump and the policies of his administration. Merkley has publicly condemned Trump's response to protests in LA as "an outrageous abuse of power designed to raise tensions." He also took a strong position against the forceful removal of Sen. Alex Padilla's (D-CA) from a press conference last week, and frequently criticizes Trump's presidency as an "authoritarian takeover." Originally published on Latin Times Donald trump Congress House of Representatives © Latin Times. All rights reserved. Do not reproduce without permission.
Yahoo
28-05-2025
- Business
- Yahoo
GameStop bought $500 million of Bitcoin
GameStop announced on Wednesday that it bought 4,710 Bitcoin, which is worth over $500 million at the time of the purchase. The video game retail chain has struggled to stay relevant in a time when digital gaming purchases are increasingly popular -- plus, the company took on a new kind of notoriety when it unwittingly became the center of a short squeeze in 2021. GameStop stock remains a bit inflated from where it was before the meddling of Reddit community r/WallStreetBets, but years out from its unpredictable moment in the spotlight, GameStop is still reporting annual declines in net sales. To support its financials, GameStop announced to investors in March that it would update its investment policy to add Bitcoin as a treasury reserve asset, and today's news represents GameStop's follow-through on that promise. GameStop stock stumbled after each crypto-related announcement, likely due to investors' concerns around the historic volatility of crypto. GameStop's recent interest in Bitcoin isn't as random as it may seem. Under former President Joe Biden, the U.S. government was cracking down on the crypto industry due to its connection to fraud and corruption. Now, the Trump administration has flipped the script and is establishing a Bitcoin reserve. Trump's media company also has plans to raise $2.5 billion to buy Bitcoin. Trump even invited the top holders of his memecoin -- a volatile cryptocurrency that is not pegged to any real determinant of value, but rather, the trollish whims of certain online communities -- to a private dinner at the White House. As Trump and his family become more entwined with crypto, his opponents have raised concerns around Trump's ability to manipulate the crypto market for his own financial gain. Co-sponsored by 17 other Democratic senators, Chuck Schumer (D-NY) and Jeff Merkley (D-OR) responded to Trump's increasing investment in crypto with the "End Crypto Corruption Act." 'Currently, people who wish to cultivate influence with the president can enrich him personally by buying cryptocurrency he owns or controls,' Senator Merkley said in a press release. 'This is a profoundly corrupt scheme. It endangers our national security and erodes public trust in government." But without support across the aisle, these efforts to mitigate Trump's ethically suspicious crypto investment are unlikely to gain momentum. With the U.S. government on its side, Bitcoin's price has jumped to all-time highs in May, breaking the $110,000 mark after falling to around $75,000 in April. Companies like Tesla, Coinbase, and Block have already made large Bitcoin purchases as a way of growing the company's assets, with each holding over one billion dollars worth of Bitcoin. Now, with its massive Bitcoin purchase, GameStop follows in these companies' footsteps. This article originally appeared on TechCrunch at Sign in to access your portfolio
Yahoo
01-05-2025
- Business
- Yahoo
‘Common cents': Oregon senator leads effort to end penny production
PORTLAND, Ore. (KOIN) – Senator Jeff Merkley (D-OR) introduced a bipartisan bill alongside Sen. Mike Lee (R-UT) on Thursday that would end penny production in the United States in an effort to slash spending. The Make Sense Not Cents Act comes as penny production has become increasingly spendy, costing nearly four cents to make — a number which has risen 20% year-over-year because of rising costs of materials, the lawmakers said noting ending penny production could save the United States over $85 million annually.'It's the opposite of 'common cents' for taxpayers' dollars to fund wasteful spending like producing pennies,' Sen. Merkley said. 'The Make Sense Not Cents Act will save taxpayers millions—and that is something that both Democrats and Republicans support to seriously take on government waste.' 'Minting pennies costs the American taxpayer millions every year – nearly four times more than the pennies are worth,' Sen. Lee added. 'No private business would produce something at a 4x loss. It's time to stop wasting Americans' hard-earned tax dollars making overpriced pennies.' Almost two-thirds of pennies made in the U.S. do not ever recirculate, 'meaning billions of pennies are buried in couch cushions, or simply lost, never to be used in transactions again,' the senators said in a press release, noting only 16% of transactions are made with cash because of online or digital banking. The idea to end penny production has been floated across the aisle, from former President Obama to President Trump, who ordered the Treasury to cease penny production in February, as reported by the Associated Press. AP notes that Congress dictates currency specifications such as the size and metal content of coins and could make Trump's order permanent through law. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
