Unbiased AI-powered news
A roughly $70 billion measure to fund immigration enforcement through the end of President Donald Trump's term stalled in the House. Progress halted over White House ballroom security funding and a proposed $1.8 billion fund for government-mistreatment claims.
fortune.comA roughly $70 billion bill to fund immigration enforcement through the remainder of President Donald Trump's term stalled in the House. Progress halted over the inclusion of White House ballroom security funding and the creation of a $1.8 billion fund to finance claims of government mistreatment.
The delay has postponed action on a top Republican priority and raised questions about other parts of the party's legislative agenda. Lawmakers had planned to follow last summer's tax and spending cuts bill with a measure increasing Pentagon spending by hundreds of billions of dollars.
Legislative timeline and next steps House Republicans have spent recent weeks screening proposals for a third reconciliation bill. Speaker Mike Johnson and Majority Leader Steve Scalise have met with committee and caucus chairs to identify measures with strong rank-and-file support.
The House is expected to remain in session for about 24 more days before its August recess. That leaves limited time to pass a budget blueprint in both chambers, the first step for any party-line tax and spending legislation.
Senate outlook and potential provisions Senate Majority Leader John Thune described a third reconciliation bill as a potential option without making commitments. Sen. Thom Tillis of North Carolina said lawmakers should know the bill's contents before the legislative process begins.
Rep. August Pfluger of Texas said the measure should focus on affordability, security, and fraud reduction. Proposals under discussion include eliminating the capital gains tax on homes sold to first-time buyers and imposing a 5 percent tax on funds sent abroad by noncitizens.
Rep. Jodey Arrington said the bill could also tighten rules for the earned income tax credit and prohibit immigrants in the country illegally from living in housing units financed by a housing tax credit.
Single source — no framing comparison available.
cnbc.comFederal Reserve Governor Christopher Waller said an above-target core inflation reading this week would require the FOMC to consider raising rates soon. He added that several months of cooler data are needed before he would view inflation as clearly declining toward the 2 percent…
middleeasteye.netHome Secretary Shabana Mahmood on 13 July 2026 announced the proscription of Iran's Islamic Revolutionary Guard Corps along with two other groups. Support for the organizations will become a criminal offense carrying up to 14 years in prison. The measures also expand police and i…
globalnews.caFifty-four financial and technology firms have joined a UK government taskforce to develop live tokenization use cases, beginning with tokenized repurchase agreements. The group includes BlackRock, JPMorgan, Goldman Sachs, Coinbase, Ripple, and Circle.