Latest news with #DOGE-related
Indianapolis Star
4 days ago
- Politics
- Indianapolis Star
U.S. Senate preparing to vote on USAID cuts, which funded research at Indiana universities
The future of research programs at Indiana universities that had foreign aid grants slashed by the Trump administration's Department of Government Efficiency earlier this year could depend on a federal vote this week. The U.S. Senate has a deadline of July 18 to vote on President Donald Trump's $9 billion package of federal spending cuts, which would rescind previously approved funding for public media and codify DOGE's cuts from early 2025 that shuttered the U.S. Agency for International Development. About $1 billion of the spending bill is tied to funding for NPR and PBS while the other $8 billion is dedicated to cuts to global aid initiatives, including USAID. USAID dollars previously funded research at both private and public Indiana universities that explored topics such as food safety and education policy in low and middle-income countries. The Trump administration has criticized USAID for "near-infinite" spending on programs that did not benefit American taxpayers or aligned with 'America First' priorities. In a July 1 post on Substack, Secretary of State Marco Rubio said future global aid programs that are in line with the president's priorities will be administered by the State Department. 'USAID viewed its constituency as the United Nations, multinational NGOs, and the broader global community – not the U.S. taxpayers who funded its budget or the President the elected to represent their interests on the world stage,' Rubio wrote. The Pulte Institute for Global Development at the University of Notre Dame said in April it already initiated staff reductions and ended projects that had received USAID dollars after DOGE-related funding cuts earlier this year. 'While the policy environment may be uncertain, our responsibility to support vulnerable communities is not,' the institute said in an April statement. 'The Pulte Institute, now operating under a new structure, continues its mission to connect Notre Dame's research with those working on the front lines of poverty, climate, education and health changes.' In April, the Pulte Institute said federal cuts to USAID ended about $20 million in funding for research projects on early education and migration and 'disrupted data collection and analysis efforts in nearly 30 countries." But funding cuts hit other universities as well. The nonpartisan Center for American Progress, which has tracked DOGE cuts through May, shows at least five USAID grant cuts at Indiana universities, although some of those programs may have already ended prior to the announced cuts. Among the grants was one dedicated to Purdue University's Feed the Future Innovation Lab for Food Safety. The program, which was founded in 2019, led food safety research projects in multiple countries and in 2024 received $10 million in funding from USAID to extend its efforts. It's unclear the status of those dollars at this point. Innovation Lab representatives and Purdue media contacts did not respond to questions about USAID funding from IndyStar prior to the deadline for this story. A federal government spending tracking website indicates nearly $4.5 million of grant funding for the Food Safety Innovation Lab has not been spent. Earlier this year, Trump also cited a program at Purdue as an example of necessary federal spending cuts that were underway during his first month in office. While the president did not name the program, news outlets in February reported Trump's comments fit the description of LASER PULSE, a $70 million research program that partners with USAID. LASER PULSE, part of the global development arm of Purdue's Applied Research Institute, is an initiative that researches solutions to challenges in USAID-partnering countries, according to its website. '$70 million for a center at Purdue to research university-sourced, evidence-based solutions to developmental challenges," Trump said in February. "I mean, these are massive numbers on things that nobody has ever heard about." If the U.S. Senate does not sign off on the spending cuts by July 18, the Trump administration would have to allow the billions dedicated to public media and foreign aid to be spent on the programs Congress previously approved. The House narrowly passed the recissions bill in June, with Indiana's representatives supporting the bill along party lines. Both of Indiana's Republican senators plan to support the Trump administration's spending cuts. U.S. Sen. Todd Young, who before July 15 had not publicly shared his position on the legislation, said in a post on X he would support the recissions package. "Passing this bill is a small but important step toward greater fiscal responsibility," Young said in the post. Contact IndyStar state government and politics reporter Brittany Carloni at
Yahoo
09-07-2025
- Business
- Yahoo
Clearbridge Dividend Strategy Initiated a Position in L3Harris Technologies (LHX) on a Dip
ClearBridge Investments, an investment management company, released its 'ClearBridge Dividend Strategy' second quarter 2025 investor letter. A copy of the letter can be downloaded here. The second quarter was unexpectedly positive for U.S. equity investors, despite global trade wars, conflicts in Ukraine and the Middle East, falling earnings estimates, and a worsening fiscal situation outlook, with the S&P 500 Index up 6.2% at the year's halfway mark. While the strategy that focuses on quality, risk management, and a disciplined approach to valuation lagged in this momentum-driven environment. In addition, please check the fund's top five holdings to know its best picks in 2025. In its second quarter 2025 investor letter, ClearBridge Dividend Strategy highlighted stocks such as L3Harris Technologies, Inc. (NYSE:LHX). L3Harris Technologies, Inc. (NYSE:LHX) is a global provider of mission-critical solutions for government and commercial customers. The one-month return of L3Harris Technologies, Inc. (NYSE:LHX) was 4.22%, and its shares gained 13.12% of their value over the last 52 weeks. On July 8, 2025, L3Harris Technologies, Inc. (NYSE:LHX) stock closed at $257.09 per share, with a market capitalization of $48.062 billion. ClearBridge Dividend Strategy stated the following regarding L3Harris Technologies, Inc. (NYSE:LHX) in its second quarter 2025 investor letter: "During the quarter we initiated a position in L3Harris Technologies, Inc. (NYSE:LHX), a defense company which had sold off on DOGE-related concerns. With armed conflict breaking out all over, robust defense spending seems like one of today's few safe bets. L3Harris possesses a robust balance sheet and a strong outlook, and it offered an attractive entry point at a steep discount to the broader market in terms of free cash flow." A military jetfighter against a deep blue sky with the sun behind it. L3Harris Technologies, Inc. (NYSE:LHX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held L3Harris Technologies, Inc. (NYSE:LHX) at the end of the first quarter, compared to 48 in the previous quarter. While we acknowledge the potential of LHX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered L3Harris Technologies, Inc. (NYSE:LHX) and shared the list of best industrial stocks to buy. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
Axios
03-07-2025
- Business
- Axios
Economic uncertainty casts shadow over June's solid jobs report
The American labor market keeps hanging on, even as signs of weakness crop up. Why it matters: Hiring is solid, defying expectations that the worrisome macroeconomic backdrop — huge uncertainty about trade, immigration, and the fiscal outlook — would keep more employers on the sidelines. But Thursday's Bureau of Labor Statistics report stops well short of giving an "all-clear" for the economy. Beyond the headline, labor supply is dwindling and demand for workers is narrowing. These issues could plague the labor market in the months ahead. By the numbers: Employment increased by 147,000 last month, surpassing the gain of 115,000 jobs forecasters anticipated. The unemployment rate edged down a tick to 4.1%. The government revised up payroll figures for April and May, noting that employment in the prior two months was higher by a combined 16,000 than initially forecast. The report showed that 80.7% of the prime-age population — those aged 25-54 — was employed, just 0.2 percentage point shy of the peak seen in this economic cycle. Zoom in: Conditions look less cheery beneath the surface. The private sector added just 74,000 jobs in June, almost half as many as the previous month. Jobs growth was overwhelmingly concentrated in state and local government, with less impressive gains in the most cyclical sectors — that is, those most exposed to the weakening economy. State and local government added 73,000 jobs, offsetting the continued declines in federal government (-7,000) from DOGE-related layoffs. The other big gainer was health care, which added 39,000 jobs. While the number of unemployed Americans fell, the labor force also continued to shrink for the second consecutive month, helping keep downward pressure on the unemployment rate. Another 130,000 workers exited the workforce in June. What they're saying:"There are real weaknesses in the market — including concentrated job gains, slowing wage growth, and falling participation — that have persisted for months, and there are scant signs of those concerns fading anytime soon," Indeed economist Cory Stahle wrote Thursday morning. The big picture: Stahle compared the current labor market to a sturdy tent, but one that is "increasingly held up by fewer poles." Among those poles are structural forces, including a shortage of workers from America's aging population and the immigration crackdown. There is also an "ongoing reluctance among employers so far" to layoff workers in masse, a scarring effect of the pandemic when it was impossible to find and train staff. Yes, but: There are profound economic changes underway that look set to supersede those factors; the adoption of AI is already shifting employers' hiring plans. President Trump is ending the era of free trade, making it more costly for businesses to get goods from overseas — a dynamic that will force a reckoning among companies about their other expenses, including labor.
Mint
27-06-2025
- Politics
- Mint
Supreme Court limits nationwide injunctions, fate of Trump birthright citizenship order in gray area
Shrey Banerjee Updated 27 Jun 2025, 08:18 PM IST Mint Image The Supreme Court has today instructed district courts to stop the endless barrage of nationwide injunctions against President Trump, according to a recent announcement by US Attorney General Pam Bondi. An AP report on this reads,"A divided U.S. Supreme Court ruled that individual judges lack the authority to grant nationwide injunctions, but the decision left unclear the fate of President Donald Trump's restrictions on birthright citizenship. The court is issuing decisions on the final six cases left on its docket for the summer, including those that are emergency appeals relating to Trump's agenda." 'Cases on the court's emergency docket are handled swiftly, and decisions often come without explanations of the justices' reasoning. Decisions released today will be related to appeals on birthright citizenship, an online age verification law in Texas, the Education Department's firing of nearly 1,400 workers and DOGE-related government job cuts,' the AP report continues.
Hamilton Spectator
27-06-2025
- Politics
- Hamilton Spectator
The Latest: Supreme Court limits nationwide injunctions, but fate of birthright citizenship unclear
A divided U.S. Supreme Court ruled that individual judges lack the authority to grant nationwide injunctions, but the decision left unclear the fate of President Donald Trump's restrictions on birthright citizenship. The court is issuing decisions on the final six cases left on its docket for the summer, including those that are emergency appeals relating to Trump's agenda. Cases on the court's emergency docket are handled swiftly, and decisions often come without explanations of the justices' reasoning. Decisions released today will be related to appeals on birthright citizenship, an online age verification law in Texas, the Education Department's firing of nearly 1,400 workers and DOGE-related government job cuts. Here's the latest: Attorney general applauds limits on nationwide injunctions 'Today, the Supreme Court instructed district courts to STOP the endless barrage of nationwide injunctions against President Trump,' U.S. Attorney General Pam Bondi said in a post on the social platform X shortly after the ruling came down. Bondi said the Justice Department 'will continue to zealously defend' Trump's 'policies and his authority to implement them.' Universal injunctions have been a source of intense frustration for the Trump administration amid a barrage of legal challenges to his priorities around immigration and other matters. Nationwide injunctions limited, but fate of birthright citizenship order unclear The outcome was a victory for Trump, who has complained about individual judges throwing up obstacles to his agenda. But a conservative majority left open the possibility that the birthright citizenship changes could remain blocked nationwide. Trump's order would deny citizenship to U.S.-born children of people who are in the country illegally. Birthright citizenship automatically makes anyone born in the United States an American citizen, including children born to mothers in the country illegally. The right was enshrined soon after the Civil War in the Constitution's 14th Amendment . Justice Sonia Sotomayor is reading her dissenting opinion from the bench, a sign of her clear disagreement with the majority's opinion. The other big cases left on the docket The court seems likely to side with Maryland parents in a religious rights case over LGBTQ+ storybooks in public schools, but other decisions appear less obvious. The judges will also weigh a Texas age-verification law for online pornography and a map of Louisiana congressional districts, now in its second trip to the nation's highest court. The justices will take the bench at 10 a.m. Once they're seated, they'll get right to the opinions. The opinions are announced in reverse order of seniority so that the junior justices go first. The birthright citizenship case will likely be announced last by Chief Justice John Roberts. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
