Elon's Greatest Invention... Hidden in South Memphis?

In South Memphis, I uncovered what could be Elon Musk's biggest invention yet. It's so secretive, rivals are flying drones to spy on it. If you're serious about investing in AI, now's the time to see what's really going on inside those walls.

House Republicans race toward a final vote on Trump's tax bill, daring critics to oppose

KEVIN FREKING and LISA MASCARO
July 02, 2025

WASHINGTON (AP) -- Republican leaders in the House are sprinting toward a Wednesday vote on President Donald Trump's tax and spending cuts package, determined to seize momentum from a hard-fought vote in the Senate while essentially daring members to defy their party's leader and vote against it.

"The American people gave us a clear mandate, and after four years of Democrat failure, we intend to deliver without delay," the top four House GOP leaders said Tuesday after the bill passed the Senate 51-50, thanks to Vice President JD Vance's tiebreaking vote.

It's a risky gambit, one designed to meet Trump's demand for a July 4 finish -- and there's a steep climb ahead. Since launching early this year, Republicans have struggled mightily with the bill nearly everystepoftheway, often succeeding by only a single vote. Their House majority stands at only 220-212, leaving little room for defections.

Some Republicans are likely to balk at being asked to rubber stamp the Senate bill less than 24 hours after passage, having had little time to read or absorb the changes that were made, many at the last minute to win the vote of Alaska Sen. Lisa Murkowski.

House Republicans from competitive districts have bristled at the Senate bill's cuts to Medicaid, while conservatives have lambasted the legislation as straying from their fiscal goals.

It falls to Speaker Mike Johnson and his team to convince them that the time for negotiations is over.

Trump pushes Republicans to do 'the right thing'

The bill would extend and make permanent various individual and business tax breaks that Republicans passed in Trump's first term, plus temporarily add new ones that Trump promised during the campaign, including allowing workers to deduct tips and overtime pay, and provide a new $6,000 deduction for most older adults. In all, the legislation contains about $4.5 trillion in tax cuts over 10 years.

The bill also provides some $350 billion for defense and Trump's immigration crackdown. Republicans partially pay for it all through less spending on Medicaid and food assistance. The Congressional Budget Office projects that it will add about $3.3 trillion in federal deficits over the coming decade.

The House passed its version of the bill back in May, despite worries about spending cuts and the overall price tag. Now, they are being asked to give final passage to a version that, in many respects, exacerbates those concerns. The Senate bill's projected impact on federal deficits, for example, is significantly higher.

Trump praised the bill profusely in a social media post, saying "We can have all of this right now, but only if the House GOP UNITES, ignores its occasional 'GRANDSTANDERS' (You know who you are!), and does the right thing, which is sending this Bill to my desk."

The high price of opposing Trump's bill

Speaker Johnson, R-La., is intent on meeting the president's July 4 timeline. He's also betting that hesitant Republicans won't cross Trump because of the heavy political price they would have to pay.

They need only look to Sen. Thom Tillis, R-N.C., who announced his intention to vote against the legislation over the weekend. Soon, the president was calling for a primary challenger to the senator and personally attacking him on social media. Tillis quickly announced he would not seek a third term.

Others could face a similar fate. One House Republican who has staked out opposition to the bill, Rep. Thomas Massie of Kentucky, is already being targeted by Trump's well-funded political operation.

House Majority Leader Steve Scalise, R-La., said leadership was not entertaining the possibility of making changes to the bill before the final vote. He said the two chambers already agree on the vast majority of what's in it.

"It's not as easy as saying, 'hey, I just want one more change,' because one more change could end up being what collapses the entire thing," Scalise said.

Democratic lawmakers, united against the bill as harmful to the country, condemned the process as rushed. Rep. Jim McGovern, D-Mass., said there's no real deadline for getting the bill passed by July 4th.

"We're rushing not because the country demands it, but because he wants to throw himself another party," McGovern said. "This isn't policy. It's ego management."

Democrats warn health care, food aid are being ripped away

House Democratic leader Hakeem Jeffries described the bill in dire terms, saying that cuts in Medicaid spending would result in "Americans losing their lives because of their inability to access health care coverage." He said Republicans are "literally ripping the food out of the mouths of children, veterans and seniors."

"House Democrats are going to do everything we can for the next few hours, today, tomorrow, for the balance of this week and beyond to stop this bill from ever becoming law," Jeffries said.

Republicans say they are trying to rightsize the safety net programs for the population they were initially designed to serve, mainly pregnant women, the disabled and children, and root out what they describe as waste, fraud and abuse.

The package includes new 80-hour-a-month work requirements for many adults receiving Medicaid and applies existing work requirements in the Supplemental Nutrition Assistance Program to more beneficiaries. States will also pick up more of the cost for food benefits, with the amount based on their payment error rates, which include both underpayments and overpayments.

The driving force behind the bill, however, is the tax cuts. Many expire at the end of this year if Congress doesn't act.

"Passing this bill means smaller tax bills and bigger paychecks for the American people -- permanently," said Senate Majority Leader John Thune. "It will also help get our economy firing on all cylinders again."

The Tax Policy Center, which provides nonpartisan analysis of tax and budget policy, projected the bill would result next year in a $150 tax break for the lowest quintile of Americans, a $1,750 tax cut for the middle quintile, and a $10,950 tax cut for the top quintile. That's compared to what they'd face if the 2017 tax cuts expired.

___

Associated Press writer Joey Cappelletti contributed to this report.

Continue Reading...

Popular

Asian shares are mixed after Wall Street closes higher and edges to more records

MANILA, Philippines (AP) — Asian shares were mixed in cautious trading Friday after Wall Street closed at an all-time high with Delta Air Lines kicking off earnings season with a solid outlook for the rest of 2025, spurring an airline stock rally.

Amy Coney Barrett Earns Trump's Credit After Court Ruling: 'I Have Great Respect For Her'

Trump praises Justice Barrett's Supreme Court ruling limiting nationwide injunctions, while blasting NYC's Mamdani and defending his economic agenda.

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

Australian airline Qantas says customer data stolen by cybercriminal

Australian airline Qantas said Wednesday that a hacker made off with a trove of customers' personal data including passenger names, emails, phone numbers, birth dates and frequent flyer numbers.

Stunning Trump Policy Unlocks Upfront Cash Payouts - Ad

The U.S. has collected $15B from Trump's tariffs - and now, thanks to Title 15, you could claim your own $100-$1,000 instant upfront cash payouts. No stocks needed. Use your phone and this income technique to collect upfront payouts now.

Shaquille O'Neal Wants $50 Million From Lakers Following $10 Billion Sale

Citing his past contributions to the Laker's success, Shaquille O'Neal jokingly requested a $50 million payout after a $10 billion sale.

Unveil the 365X Crypto Secret - Replay Disappearing Soon! - Ad

Only 12 hours left! Watch the replay of the "365x Return in 90 Days" crypto Workshop before it's gone. Discover Joel and Adam's 4-part system, real success stories, and how to start mirroring their trades. This is your last chance-don't miss out.

Greed Mode On: Why Tesla, Nvidia, Palantir And Bitcoin Plays Could Rip

The stock market's buzzing with euphoria, with the CNN Business Fear & Greed Index at 78—"Extreme Greed" for the first time since March 2024.

Nvidia B300 Chips Order Touted By Nayib Bukele's Bitcoin Office — Why Does El Salvador Want These Powerful AI Processors?

El Salvador, under the presidency of Nayib Bukele, placed an order for Nvidia Corp.'s (NASDAQ:NVDA) B300 chips, a powerful artificial intelligence processor that is not yet available to most of the world.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Cathie Wood Doubles Down On Tesla Amid Elon Musk's Feud With Trump, Sells $3 Million Worth Of Coinbase Stock

On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Tesla Inc. and Coinbase Global Inc. . These trades reflect Ark’s strategic positioning amid ongoing market developments.

Polymarket Bettors See 50% Chance Of Fed September Rate Cuts As Trump Turns Up Heat On Powell

Cryptocurrency bettors now estimate a 50% possibility that the Federal Reserve will cut interest rates for the first time in 2025 during its September meeting.

This Tiny Tech Stock Could Be the Next Big Platform Play - Ad

One under-the-radar company is embedding intelligence into everyday glass-already powering Ferraris, aircraft, and city buses with adaptive surfaces and vision systems. It's not just a product. It's a platform.

XRP Boosted 4% By Ripple's Stablecoin Partnership With BNY

Ripple (CRYPTO: XRP) has announced that the Bank of New York Mellon (NYSE:BKAG) will serve as the primary custodian for reserves backing its

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune - Ad

A high-grade copper-gold discovery in Quebec just delivered extremely high grade intercepts. Valuation? Just $31M. With copper breaking out, the timing here could be perfect. Get the symbol here.

Tesla Rival Xiaomi Wants To Sell Cars Internationally Starting 2027, CEO Lei Jun Says

Xiaomi plans to sell its electric vehicles overseas as SU7 and YU7 models gather steam in the Chinese domestic market.

Copper's Spiking - And This Junior Has the Grades to Match - Ad

Copper is climbing again - and this time, it looks tariff-proof. A $31M junior just posted nearly 1B lbs of copper equivalent. With insiders and institutions piling in, this could be the next breakout.

Trump asks Supreme Court to remove 3 Democrats on the Consumer Product Safety Commission

WASHINGTON (AP) — The Trump administration on Wednesday asked the to remove three Democratic members of the , who were fired by President and then reinstated by a federal judge.

Most US adults say child care costs are a 'major problem,' a new AP-NORC poll finds

Americans overwhelmingly view the cost of child care as a significant issue, and most support initiatives to offer free or low-cost day care and to require employers to provide paid family leave for parents of babies, according to a new poll.

Revived Wartime Resource May Soon Power Everything from Bullets to Batteries - Ad

This overlooked metal isn't just for the battlefield anymore. It's part of the future energy grid, too. This could be a rare early-stage play in a market that's heating up fast.

FDA vaccine official restricted COVID vaccine approvals against the advice of agency staff

WASHINGTON (AP) — The working under Health Secretary recently of two COVID-19 vaccines, disregarding recommendations from government scientists, according to federal documents released Wednesday.

China is Tightening Critical Metal Supply-Investors Wondering Who Will Step Up - Ad

This metal powers everything from munitions to batteries. But with China imposing export controls, the West is scrambling for supply. One tiny firm may control a key N. American site-and investors are watching closely.

Fire that shut Heathrow was caused by a preventable technical fault known for years, report finds

LONDON (AP) — An electrical substation fire that , canceling more than 1,300 flights, was caused by a preventable technical fault identified almost seven years earlier, a report found Wednesday.

Elon's Greatest Invention... Hidden in South Memphis? - Ad

In South Memphis, I uncovered what could be Elon Musk's biggest invention yet. It's so secretive, rivals are flying drones to spy on it. If you're serious about investing in AI, now's the time to see what's really going on inside those walls.

Ex-Trump Family Attorney Raises Alarms Over Trump's Actions as President: 'I Have Never Been As Concerned'

Abbe Lowell expressed serious concerns about the potential harm that the current administration could cause to the country's institutions.

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

Embed-chart-July Fourth-Pool Party Prices, ADVISORY

JULY FOURTH-POOL PARTY PRICES — chart. A market research company’s preliminary data shows that getting all the gear needed to host a pool party costs less than it has in years. This chart is current as of 07, 03, 2025 and will not update. Source: Numerator

Stunning Trump Policy Unlocks Upfront Cash Payouts - Ad

The U.S. has collected $15B from Trump's tariffs - and now, thanks to Title 15, you could claim your own $100-$1,000 instant upfront cash payouts. No stocks needed. Use your phone and this income technique to collect upfront payouts now.

SoftBank's Masayoshi Son Sets Sights On Artificial Super Intelligence Domination With Bets On OpenAI And Ampere: 'I'm All In'

SoftBank CEO Masayoshi Son aims to position the company as a leading platform provider in the artificial super intelligence sector within the next decade, with major investments in companies like Ampere and OpenAI.

Elon's America Party ETF: A What-If Fund Of Musk-Linked Stocks Like Tesla, Nvidia

A playful look at an imaginary American Party ETF built around Elon Musk-linked stocks like Tesla, Nvidia, and more.

Unveil the 365X Crypto Secret - Replay Disappearing Soon! - Ad

Only 12 hours left! Watch the replay of the "365x Return in 90 Days" crypto Workshop before it's gone. Discover Joel and Adam's 4-part system, real success stories, and how to start mirroring their trades. This is your last chance-don't miss out.

Alibaba Prices $1.5 Billion Via Zero-Coupon Bonds To Fund AI, Cloud Push

Alibaba announced $1.5B bond offering for AI and cloud expansion, exchangeable for shares of Alibaba Health. Expected to close July 9.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service