Latest news with #NoLabels
Yahoo
3 days ago
- Automotive
- Yahoo
Mark Cuban backs Musk's poll on a new political party as investors react to tech billionaire's feud with Trump
As the Donald Trump-Elon Musk axis disintegrated spectacularly on Thursday, billionaires and investors were among the many who were transfixed by the public spat. During the melee, Musk posted a poll on X asking if it was time to create a new political party, drawing an endorsement from Mark Cuban, who has previously eyed a third party as well. During the heat of battle as Elon Musk publicly feuded with President Donald Trump on Thursday, the tech billionaire posted a poll on his social media platform X asking if it's time for a new political party. That drew an endorsement from fellow billionaire Mark Cuban, who reposted the poll and added three check marks. Entrepreneur Andrew Yang, who ran for president in 2020 and later cofounded the Forward Party, reposted Cuban and then floated a notional 2028 presidential primary that includes Cuban, JPMorgan CEO Jamie Dimon as well as other names like Matthew McConaughey and Oprah Winfrey. Cuban was a top surrogate for then-Vice President Kamala Harris during the 2024 campaign but has flirted with third-party politics, though he has yet to run for office. In 2020, Cuban revealed he seriously considered running for president as an independent and even hired a pollster, but said he had long odds and his family was against the idea. Last year, Cuban confirmed he had past conversations with No Labels, a bipartisan group that sought ballot access for a third-party presidential campaign. He decided against a White House run, citing his family again, but told NBC News at the time, 'I think the 2 party system is broken.' While Cuban and Musk were on opposite ends of the 2024 race, the Shark Tank star was among the first to admit defeat on election night in November and even congratulated Musk. To be sure, Cuban has continued to speak out against Trump's policies, but said in February he has no plans to make his own political run in the near future, telling an audience of anti-Trump conservatives, 'Hell no. It's not going to happen.' Meanwhile, other billionaires and investors weighed on in the Musk-Trump spat. Pershing Square CEO Bill Ackman posted on X that he supports both men and that 'they should make peace for the benefit of our great country. We are much stronger together than apart.' And longtime Tesla investor Ross Gerber lamented Thursday that shareholders had seen $140 billion in market cap wiped out as the stock sold off, nearly matching what Musk's Department of Government Efficiency (DOGE) claimed to save the federal government in cuts. On Friday, Gerber said on X Trump is vindictive and forget when he's been slighted. 'This doesn't get solved other than Elon groveling back and publicly apologizing,' he added. This story was originally featured on
Yahoo
14-03-2025
- Business
- Yahoo
"Joe Manchin always told me": A centrist Democrat explains why he sided with Republicans on the CR
In a call with a No Labels, a self-proclaimed centrist organization, Rep. Jared Golden, D-Maine, described his decision to vote for a Republican continuing resolution that stands to empower billionaire Elon Musk and President Donald Trump as him taking the 'high road.' Golden, speaking Thursday just before Senate Minority Leader Chuck Schumer, D-N.Y., announced his support for the same CR, was the sole Democrat in the House to back the GOP plan, which pairs spending cuts with funding to keep the government open for another six months. Many Democrats expressed concern that, while the passage of the CR would avoid a government shutdown, it would also further empower Trump and Musk to make unilateral cuts to congressionally authorized programs. Indeed, Politico reported this week that Vice President JD Vance promised House Republicans wary of approving more spending that the administration would pursue impoundment, which legal experts decry as an unconstitutional attempt to seize Congress' power of the purse. During the No Labels event, however, Golden suggested that it was he who was standing up to the administration. 'I think people on the left are not really thinking this through, and they should be careful what they ask for,' he said in reference to people actively opposing the Republican bill. 'Anyways, Joe Manchin always told me, 'Don't — if you can't go home and explain something to people, then you probably ought not to vote for it.' And I can't explain what good would come out of a shutdown,' Golden said. Golden continued: 'I also want to point out that right now, anyway, where [Trump] is exceeding his authority as president, the courts are doing a pretty good job so far.' Asked about Vance's promise, Golden suggested in an email to Salon after the No Labels call that it didn't affect his decision. "Statements by the vice president, or anyone else for that matter, didn't factor into my vote for the CR at all," Golden said. "I voted to keep government open because I know that right now a shutdown will make things worse, not better. A shutdown will mean more people going home without pay, more federal agencies having their doors closed." The "real fight," Golden said, is coming up: "I voted to keep federal spending at more or less current levels through the end of the fiscal year and to keep the government's lights on so we can move on to the real fight, which is stopping the House GOP from using reconciliation to cut taxes for the wealthy while potentially taking health care away from hundreds of thousands of my constituents." But plenty of Democrats disagree with that assessment. Rep. Rosa DeLauro, D-Conn., described her issues with the CR at a House Rules Committee hearing earlier this week, calling the bill a 'blank check' that allows Trump to 'keep impounding." The bill, she charged, is 'filled with cuts and policy changes while abandoning Congress' responsibility to decide how and why to spend taxpayer dollars.' Impoundment refers to when the president decides not to spend money appropriated by Congress. The power is both statutorily illegal under the Impoundment Control Act of 1974, and constitutionally illegal as the Supreme Court ruled in Train v. City of New York. Golden's remarks come as most House Democrats are urging their Senate counterparts to stand firm and oppose the Republican CR. No Labels, the group that hosted the Maine lawmaker, presents itself as a counterweight to progressives, but a review of its finances shows that it has often backed Republicans. In 2024, the group donated more than $1.6 million to Republicans, compared to $236,000 to Democrats. Golden himself received $2,000 from the group. Other Democrats the group supported by No Labels include Reps. Ritchie Torres, D-N.Y., Henry Cuellar, D-Texas, and Josh Gottheimer, D-N.J. While No Labels has historically sought to keep its donor roles a secret, an investigation by Mother Jones published in 2023 found that many of the group's wealthy benefactors are business of the donors include Michael Smith, the billionaire founder of Freeport LNG, who has donated millions of dollars to support Republican efforts to control the Senate, and Tom McInerney, a private-equity investor with connections to the Republican National Committee and GOP affiliated super-PACS.
Yahoo
27-02-2025
- Politics
- Yahoo
Prominent political donor and attorney John Morgan launching new political party
Prominent political donor and attorney John Morgan is launching a new political party, he said on the social platform X on Wednesday. 'I am forming a new political party for those of us stuck in the middle. Our two party system is broken due to Gerrymandering and divisive issues… both sides. No labels is not an option. Everyone wants a team or tribe,' Morgan, an attorney at the Morgan & Morgan law firm, said in his Wednesday post. He ended the post with, 'Stay tuned,' without adding many details about the launch. Morgan could have been referring to the group No Labels in the post, which dropped its own 'effort to put forth a Unity ticket in the 2024 presidential election' in April of last year. The Hill has reached out to Morgan for further comment. In July, Morgan said he would not contribute to fundraising efforts for former Vice President Harris on the same day former President Biden left the presidential race. 'You have to be enthusiastic or hoping for a political appointment to be asking friends for money. I am neither. It's others turn now,' Morgan said on X at the time. Morgan also previously predicted the former vice president's November loss. 'She would not be my first choice,' Morgan said of Harris in a July report from The Hill. 'But it's a done deal.' President Trump's election victory and return to the White House has rattled Democrats, who lost their hold on the Senate and did not take back the House in last year's elections. There have been ongoing conversations in the Democratic Party about its candidates' performances at the polls in November, with some centrists saying the party went too left, and liberals saying it didn't go left enough. The Hill has reached out to No Labels for comment. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
27-02-2025
- Politics
- The Hill
Prominent political donor and attorney John Morgan launching new political party
Prominent political donor and attorney John Morgan is launching a new political party, he said on the social platform X on Wednesday. 'I am forming a new political party for those of us stuck in the middle. Our two party system is broken due to Gerrymandering and divisive issues… both sides. No labels is not an option. Everyone wants a team or tribe,' Morgan, an attorney at the Morgan & Morgan law firm, said in his Wednesday post. He ended the post with, 'Stay tuned,' without adding many details about the launch. Morgan could have been referring to the group No Labels in the post, which dropped its own 'effort to put forth a Unity ticket in the 2024 presidential election' in April of last year. The Hill has reached out to Morgan for further comment. In July, Morgan said he would not contribute to fundraising efforts for former Vice President Harris on the same day former President Biden left the presidential race. 'You have to be enthusiastic or hoping for a political appointment to be asking friends for money. I am neither. It's others turn now,' Morgan said on X at the time. Morgan also previously predicted the former vice president's November loss. 'She would not be my first choice,' Morgan said of Harris in a July report from The Hill. 'But it's a done deal.' President Trump's election victory and return to the White House has rattled Democrats, who lost their hold on the Senate and did not take back the House in last year's elections. There have been ongoing conversations in the Democratic Party about its candidates' performances at the polls in November, with some centrists saying the party went too left, and liberals saying it didn't go left enough.
