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New York Times
29 minutes ago
- New York Times
The Senate and the Supreme Court
The Senate narrowly passed Republicans' sprawling bill to slash taxes and social safety net programs. Vice President JD Vance cast the tiebreaking vote, after three Republican senators — Susan Collins, Thom Tillis and Rand Paul — voted no. The bill extends roughly $3.8 trillion in tax cuts enacted during Trump's first term and increases funding for border security and the military. It cuts about $1.1 trillion from health care programs, mainly Medicaid, which experts estimate will cause nearly 12 million Americans to lose coverage. The bill, which could affect millions of Americans, is a major political gamble, Carl Hulse writes. The House must now decide whether to pass the Senate's version of the bill or try to reconcile it with its own. Any delays could mean that Congress misses the July 4 deadline that Trump set. The Morning's readers were interested in the bill yesterday (it was our most-clicked link). Here's more from Times reporters who were in the Capitol: In all, senators voted 49 times during a 27-hour marathon session. They wore fluffy blankets and pullover sweatshirts inside the chilly chamber. Senator Lisa Murkowski, Republican of Alaska, cast a deciding vote for the bill after winning carveouts for her state. 'Do I like this bill? No,' she told NBC News afterward. 'But I tried to take care of Alaska's interests.' Trump and Elon Musk returned to jousting on social media about the legislation. The bill's policies could inflict major financial pain on poor Americans. Republicans have insisted that the policy package will help seniors and the middle class. Here's a fact check. Covering the court The end of June is some combination of Christmas and Tax Day for Adam Liptak, who has covered the Supreme Court for The Times since 2008. That's when the justices release a dizzying array of rulings: This term's major cases, some of which were decided earlier in the year, touched on guns, porn, police tactics, religion, citizenship, L.G.B.T.Q. rights, vapes and TikTok. How the Supreme Court voted in the last two terms Last term 5-4 6-3 7-2 8-1 9-0 This term 5-4 6-3 7-2 8-1 9-0 Last term 5-4 6-3 7-2 8-1 9-0 This term 5-4 6-3 7-2 8-1 9-0 Note: Chart shows nine-person decisions that were orally argued and signed. Sources: Lee Epstein and Andrew D. Martin, Washington University in St. Louis; Michael J. Nelson, Penn State from the Supreme Court Database By The New York Times Want all of The Times? Subscribe.
Bloomberg
30 minutes ago
- Bloomberg
Trillion-Dollar Pools of Capital Mask Middle East VC Paradox
Despite a strong first quarter for startup funding, the Middle East's venture ecosystem faces a unique paradox: The region's sovereign wealth funds and family offices wield trillions of dollars and yet startups are struggling to access the funding they need to scale. At the heart of the problem lies a gap in late-stage venture capital, particularly at the Series B stage and beyond. In a region that's become a hub for initial public offerings in recent years, this threatens to slow the pipeline of IPO-ready companies in the Middle East.
Wall Street Journal
33 minutes ago
- Wall Street Journal
Del Monte Foods Files for Bankruptcy With Plans to Pursue Sale
Packaged-foods maker Del Monte Foods, a U.S. unit of Singapore-based Del Monte Pacific, has filed for chapter 11 bankruptcy with plans to pursue a sale. Del Monte Foods said it has reached a restructuring support agreement with a group holding some of its term-loan debt that contemplates the Walnut Creek, Calif., company undertaking a going-concern sale process for all or substantially all of its assets.
