July 1, 2025

Money

Gavin Newsom on the Trump budget bill:  

- Largest transfer of wealth to the rich in American history.
- Largest cut to Medicaid in American history.
- Largest cut to food assistance in American history.
- Electricity costs could go up by 30%.
- Millions of jobs could disappear. 

All the states where minimum wage will rise in July 

Stanford University will cut $140m from its budget, citing ‘federal policy changes’ 

Kentucky Governor Andy Beshear on Donald Trump’s Big Ugly Bill: “They’re adding trillions of dollars to the national debt. They’re going to blow a hole in every state’s budget with what they’re doing to SNAP. They’re going to fire a ton of healthcare workers. They’re gonna throw people off their healthcare coverage. They’re gonna close rural hospitals and more people are going to go hungry. What could be beautiful about that? Absolutely nothing.”

Bloomberg -   Senate Republicans are moving forward with a plan to mask the $3.8 trillion cost of extending expiring tax cuts in President Donald Trump’s signature economic legislation. GOP senators voted Monday in favor of a plan that says renewing the party’s 2017 tax cuts, which are set to expire, somehow costs nothing.

What’s seen by Democrats as a brazen attempt at accounting sleight of hand allows the GOP to both mollify Trump with more of his populist wish list and satisfy the party’s self-described fiscal conservatives. The renewal of tax cuts that largely go to the rich and corporations will come at the expense of millions of lower income and disabled Americans who will no longer have healthcare of assistance buying food.

“Even a preschooler knows this is magic math,” said Patty Murray of Washington State, the top Democrat on the Senate Appropriations Committee. She accused Republicans of “trashing the rules” to pass the bill. South Carolina Republican Senator Lindsey Graham pledged there was nothing “sneaky” about the maneuver. 

 



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