The Bulletin June 19, 2025
Why it matters: Multiple sources said Trump remains undecided about launching strikes, amid doubts over whether American Massive Ordnance Penetrator (MOP) bombs could destroy Iran's deeply buried and heavily fortified Fordow nuclear plant near the city of Qom. Trump privately approved military plans for action against Iran but has so far withheld execution, The Wall Street Journal reported Wednesday. People familiar with the deliberations said the president was holding off to see whether Iran would halt its nuclear ambitions. Meanwhile, Israel and Iran exchanged air and missile strikes, intensifying already-severe regional tensions.
Read more in-depth coverage:
Iran Starts Firing Heavier Missiles in Israel Attacks
TL/DR: The prospect of U.S. military action against Iran's nuclear infrastructure carries far-reaching consequences for American security interests, global energy markets, and the volatile Middle East region.
What happens now? Trump is expected to continue consultations with security and defense officials in the coming days, weighing the risks of direct military involvement against Iran.
Deeper reading Donald Trump Moves Closer to Bombing Iran
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CBS News
12 minutes ago
- CBS News
Watch Live: House nears final vote on "big, beautiful bill" after Jeffries sets record for longest speech
Washington — The House is nearing a final vote Thursday on President Trump's "big, beautiful bill" after Republican leaders overcame resistance from GOP holdouts in a dramatic overnight session, prompting Democratic Leader Hakeem Jeffries to delay a final vote by delivering the longest House speech on record. "We'll have the votes," House Speaker Mike Johnson said Thursday morning. "We'll land this plane before July 4th." Republicans are trying to approve the final version of the legislation ahead of the self-imposed Friday deadline to get the bill to the president's desk. After hours of delay, the House voted 219-213 to advance the bill, scoring a key victory for Johnson. Lawmakers began voting at about 9:30 p.m. ET Wednesday, but didn't wrap up until about 3:20 a.m. Thursday, as GOP leaders and the White House spoke with holdouts for hours to overcome their objections. "What are the Republicans waiting for??? What are you trying to prove??? MAGA IS NOT HAPPY, AND IT'S COSTING YOU VOTES!!!" Mr. Trump wrote on Truth Social shortly after midnight. Following the procedural vote, the House began debating the bill. Just before 5 a.m., Jeffries began addressing the chamber for a "magic minute," a House custom that allows the leader unlimited speaking time. The New York Democrat pledged to "take his time" as he highlighted the Americans who he said would suffer because of the bill. He ended up speaking for 8 hours and 44 minutes straight, surpassing the record for the longest floor speech in House history, which was previously held by Kevin McCarthy, who spoke for 8 hours and 32 minutes in 2021. "I rise today in strong opposition to Donald Trump's one, big ugly bill," Jeffries said as he began speaking. "This disgusting, abomination, the GOP tax scam, that guts Medicaid, rips food from the mouths of children, seniors and veterans, and rewards billionaires with massive tax breaks. Every single Democrat stands in strong opposition to this bill because we're standing up for the American people." Johnson was expected to speak after Jeffries concludes, followed by the final vote. House hardliners push back against Senate changes After the Senate approved the bill Tuesday, House GOP leaders had aimed to move ahead quickly on the signature legislation of Mr. Trump's second-term agenda, which includes ramped-up spending for border security, defense and energy production and extends trillions of dollars in tax cuts, partially offset by substantial cuts to health care and nutrition programs. But some House Republicans, who voted to pass an earlier version of the bill in May, were unhappy with the Senate's changes. Holdouts, including moderates and members of the conservative House Freedom Caucus, met with Mr. Trump on Wednesday as the White House pressured House Republicans to vote for the bill. While some lawmakers described the meetings as productive, a number of conservatives said ahead of a rule vote Wednesday afternoon that they thought the procedural vote would fail. Johnson spent weeks pleading with his Senate counterparts not to make any major changes to the version of the bill that passed the lower chamber by a single vote in May. He said the Senate bill's changes "went a little further than many of us would've preferred." The Senate-passed bill includes steeper Medicaid cuts, a higher increase in the debt limit and changes to the House bill's green energy policies and the state and local tax deduction. Other controversial provisions that faced pushback in both chambers, including the sale of public lands in nearly a dozen states, a 10-year moratorium on states regulating artificial intelligence and an excise tax on the renewable energy industry, were stripped from the Senate bill before heading back to the House. Before the critical procedural vote ended, Johnson told reporters that Mr. Trump was "directly engaged" in conversations with skeptical members. "Members wanted to hear certain assurances from him about what's ahead, what the future will entail, and what we're going to do next, and all of that," Johnson said. "And he was very, very helpful in that process." In the wee hours on Thursday, five House Republicans had voted no on the rule vote, which was enough to tank the vote with a razor-thin GOP majority in the lower chamber, and eight possible holdouts had not voted. But the vote remained open as GOP leaders worked to shore up support, allowing lawmakers to change their votes from no to yes. Mr. Trump had taken to Truth Social as a handful of Republican holdouts didn't appear to be budging, declaring "FOR REPUBLICANS, THIS SHOULD BE AN EASY YES VOTE. RIDICULOUS!!!" Republican leaders ultimately won the support of about a dozen GOP opponents to the rule. And when the vote finally came to an end, Rep. Brian Fitzpatrick of Pennsylvania was the sole Republican opposed. , and contributed to this report.
Yahoo
14 minutes ago
- Yahoo
Fed's Bostic Urges Patience Amid Uncertainty, Resilient Economy
(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic called for patience amid uncertainty over economic policy and said a wait-and-see approach can help to ensure officials don't have to reverse course on interest rates. NYC Commutes Resume After Midtown Bus Terminal Crash Chaos Struggling Downtowns Are Looking to Lure New Crowds Massachusetts to Follow NYC in Making Landlords Pay Broker Fees Foreign Buyers Swoop on Cape Town Homes, Pricing Out Locals What Gothenburg Got Out of Congestion Pricing 'I believe a period characterized by such widespread uncertainty is no time for significant shifts in monetary policy,' Bostic said Thursday at an event in Frankfurt. 'That is especially the case against the backdrop of a still resilient macroeconomy, which offers space for patience.' Fed officials have held rates steady this year while they wait to see how President Donald Trump's tariffs, along with changes to immigration, taxes and regulation, will affect the economy. Projections released after last month's meeting show a divide over how much officials expect to reduce borrowing costs this year. While 10 policymakers expect to lower rates at least two times in 2025, seven see the Fed holding rates steady all year. The Atlanta Fed chief said earlier this week that the impact of tariff-induced price increases may be incremental, instead of amounting to a one-time jump, which could lead to more persistent inflation. He reiterated that concern on Thursday, saying tariff-related price bumps may be implemented over the course of the next year or more, causing a slow trickle of price increases that could lift inflation expectations. 'If I'm right, then the US economy will likely experience a longer period of elevated inflation readings,' Bostic said. Job Market A stronger-than-forecast jobs report for June, released earlier Thursday by the Bureau of Labor Statistics, lowered market expectations for a July cut. Bostic said Thursday there are signs the labor market is softening, including a slowdown in hiring, but he said the jobs market is not yet deteriorating. 'I believe the committee must await more clarity rather than move in a policy direction that it might need to quickly reverse,' he said, referring to the Federal Open Market Committee. Responding to questions following his remarks, Bostic said higher US government debt levels could eventually have implications for policymakers. He said debt servicing costs could 'crowd out' other activities, which could later affect prices and employment in 'material' ways. Republicans in Congress appear close on Thursday to passing Trump's tax and spending bill. The version that passed the Senate would add nearly $3.3 trillion to US deficits over a decade, according to a new estimate from the nonpartisan Congressional Budget Office. Bostic also said the size of the federal debt could affect monetary policy by moving interest rates. 'To the extent that those things are perceived in financial markets as risk elevators, you could see interest rates move to some extent independent of things that we do,' Bostic said. 'That would be really something that we'd have to think hard about.' --With assistance from Jana Randow. (Updates with additional Bostic comments starting in 10th paragraph.) SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too How to Steal a House America's Top Consumer-Sentiment Economist Is Worried China's Homegrown Jewelry Superstar Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate ©2025 Bloomberg L.P.


CNN
16 minutes ago
- CNN
Reverting records, a written apology and policy changes: How UPenn reached a deal with the White House over trans athletes and $175 million in federal funding
Donald Trump LGBTQ issues People in sports Education policyFacebookTweetLink Follow President Donald Trump's alma mater recognized early on it could be under threat. A week after the University of Pennsylvania alumnus' inauguration, the university president composed a message to the school community: 'Like you, I am closely monitoring recent developments from Washington that directly affect higher education.' 'Together we will protect and preserve what defines us as Penn,' then-interim President J. Larry Jameson wrote. A week later, the university was under investigation by the federal government. What followed was a high-stakes, months-long back-and-forth between one of the country's most prestigious universities and the Department of Education. But the battle over $175 million in frozen federal funding that centered around women's sports at UPenn, and one transgender swimmer in particular, would unfold much differently — for now — from the ongoing funding fight its sister Ivy League institution, Harvard University, has been waging with the Trump administration. The deal reached this week between UPenn and the DOE, which restored the federal funding to the university, drew substantial praise from the Trump administration and conservatives. It also drew accusations of surrender and capitulation from some faculty, local politicians, and more. In the end, UPenn's president maintained the university remained committed to 'fostering a community that is welcoming, inclusive and open to all students, faculty and staff.' But Jameson acknowledged the deal with the administration was made because 'if unresolved, (the investigation) could have had significant and lasting implications for the University of Pennsylvania.' The conflict began in earnest in early February, when President Trump signed an executive action titled 'Keeping Men Out of Women's Sports.' 'You've been waiting a long time for this,' said Trump, flanked by dozens of young girls and female athletes at a ceremonial signing at the White House. 'So have I.' The following day, the Department of Education's Office of Civil Rights announced an investigation into three entities, including the University of Pennsylvania, for violating Title IX by 'denying women an equal opportunity to participate in sports.' Title IX prohibits sex-based discrimination at any academic institution that receives federal funding. The DOE specifically cited Lia Thomas, a transgender woman and UPenn swimmer, as the basis for the investigation into the university. In 2022, Thomas won the National Collegiate Athletic Association (NCAA) championship for Penn competing in the women's 500-yard freestyle. Since then, Thomas has become a symbol for those — including Trump — hoping to prevent transgender women from competing in women's sports. After the president's executive action, the NCAA announced a new policy limiting 'competition in women's sports to student-athletes assigned female at birth only.' UPenn said it complied with the new rules of the NCAA—and maintained it hadn't violated Title IX when Thomas competed three years ago, saying it was just following NCAA guidance at the time. But the university said it was blindsided when it learned 'through various news outlets' that the Trump administration had frozen $175 million of federal funding to the school anyway. Jameson said the funding cut impacted research, 'preventing hospital-acquired infections, drug screening against deadly viruses, quantum computing, protections against chemical warfare, and student loan programs.' 'We expect to continue to engage with (the DOE Office of Civil Rights), vigorously defending our position,' he wrote to the Penn community on March 25. By the end of April, the DOE's investigation concluded Penn had violated Title IX. But also that month, according to The Daily Pennsylvanian, Penn came to the negotiating table. The demands by the DOE's Office of Civil Rights to become Title IX compliant were relatively straightforward. UPenn had to issue a statement that it would comply with Title IX in its athletic programs, restore records and titles to the women who competed against Thomas and any other transgender women, and write apologies to those women who competed against Thomas. As UPenn's leadership released public statements on a new front with the Trump administration — visas for foreign students being threatened — internally, the university was working with the administration to comply with the Title IX investigation. 'UPenn came back to the table and asked us what they can do to make it right,' said Education Secretary Linda McMahon in remarks published Tuesday evening. 'We said, 'You have to completely rewrite your institutional policy.' They signed on the dotted line,' said McMahon. 'We said, 'You have to take these steps with records and reporting so this never happens again.' They signed on the dotted line.' 'We said, 'You owe (former UPenn swimmer Paula Scanlan), (former collegiate swimmer Riley Gaines), and the other female athletes you've wronged a formal written apology. On Penn letterhead. In 10 business days.' 'Even that provision made it into the agreement,' said McMahon. In a statement to the community, UPenn confirmed it agreed to these terms, reiterating that it believes it has always followed Title IX regulations under NCAA guidelines. On its athletics website, Thomas' swimming records set for UPenn are now a footnote in Penn Women's Swimming. CNN has reached out to Thomas for comment. On Wednesday morning, a White House official confirmed to CNN it had restored the $175 million in frozen funding. By Wednesday afternoon, the agreement had been trumpeted as a major victory for President Trump. 'About dang time,' wrote former UPenn swimmer Paula Scanlan on X, adding in another post, 'I got what I voted for!' 'A long overdue step in the right direction,' wrote Republican Pennsylvania Sen. Dave McCormick. 'Fantastic news,' posted Republican Texas Sen. Ted Cruz. But criticism spilled out as well. 'By following a path of political expediency at the expense of trans athletes, Penn makes all trans students, faculty, staff, and community members less safe, exposing them to renewed and emboldened harassment and discriminatory treatment,' wrote the UPenn chapter of the American Association of University Professors. 'This move is not about equity,' wrote Pennsylvania State Representative Rick Krajewski and Philadelphia City Councilmembers Jamie Gauthier and Rue Landau in a joint statement calling the deal a 'surrender.' 'It is about appeasing the Trump administration.' McMahon applauded UPenn's decision to comply, adding Tuesday, 'We advise every institution that is currently violating women's rights under Title IX to follow suit — not just in college sports, but in K-12 and every other institution covered by Title IX.' CNN's Betsy Klein and Amanda Musa contributed to this report.