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The Latest Breaking News from CBO

How investors should be thinking as the stock market nears a P/E ratio of 30—a number that spelled disaster before the dotcom crash

What’s especially troubling is the way the multiple reached its current heights. The main driver wasn’t what matters most: rising profits.

Fortune

Trump’s controversial $250 visa fee could cost the US economy $11 billion as tourists stay away, research finds

The Congressional Budget Office estimated that the “visa integrity fee” would bring in more than $27 billion over a decade

The Independent UK

Congrats, Trump fans! Your hero’s brilliant plan to Make America Hungry Again strips food from millions

Stable genius strikes again!

We Got This Covered

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Trump law will cut food stamps for 2.4 million people as work rules widen

Parents of teens, adults up to 64 years old and veterans must work, volunteer or train to keep benefits, CBO finds

The Guardian - US

“The Idea That AI Will Create New Jobs Is 100% Crap”: Former Google Exec Says Even CEOs Are on the Tech’s Chopping Block

Former Chief Business Officer at Google X, Mo Gawdat, says the idea of AI creating jobs is "100% crap", further indicating that the technology will replace the entire workforce, including CEOs.

Windows Central

Trump's War on Economic Data Is a Dangerous Move for MAGA's Own Agenda

The Bureau of Labor Statistics, the CBO, and the Fed are far from perfect. But the U.S. needs a statistical system that is modern, agile, and protected from political interference.

Reason

Republicans brush aside Trump plan to slash NIH funding - Roll Call

Despite criticism of accusations of sexual harassment, controversial research, lawmakers say a 40 percent cut at the agency is too much.

Roll Call

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Fact check: Could Trump’s trade tariffs pay off the US deficit?

Commerce Secretary Howard Lutnick says tariffs will plug US finances, but experts say it’s unlikely.

Al Jazeera

Drug Innovation At Risk By Trump Budget, Says Congressional Budget Office

According to a new U.S. Congressional Budget Office analysis, President Donald Trump’s 2026 budget plan proposes cuts to the National Institutes of Health that could significantly reduce the number of new drugs entering the market.

Benzinga

Trump tax bill to add $3.4tn to US debt over next decade, new analysis finds

Congressional Budget Office report estimates bill will leave 10m more Americans without health insurance by 2034

The Guardian - US

How A $250 Provision In Trump's 'Big, Beautiful Bill' Could Help Cut the US Deficit By Billions

In the recently passed “Big, Beautiful Bill,” visitors to the United States will now be required to pay a new visa integrity fee, which has the potential to slash the U.S. Federal Deficit over a decade.

Benzinga

Trump’s big beautiful bill includes a $250 ‘visa integrity fee’ travelers will have to fork over

Tourists, business travelers, and international students will be required to fork over the new fee.

Fortune

CBO finds health agency cuts would result in fewer new drugs - Roll Call

Potential NIH and FDA cuts could lower the number of new drugs that come to market in the next three decades, according to a CBO analysis.

Roll Call

How 17M Americans enrolled in Medicaid and ACA plans could lose their health insurance by 2034

The big tax and spending package President Donald Trump signed into law on July 4, 2025, will cut government spending on health care by more than US$1 trillion over the next decade.

The Conversation

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The Independent UK

Republicans slammed online for celebrating children going hungry and millions losing Medicaid from Trump’s bill

Republicans gave thumbs up and danced in the House as they celebrated stripping health insurance from millions of fellow Americans.

The Guardian - US

Trump’s big bill achieved what conservatives have been trying to do for decades

The Republican fantasy of lower taxes and hard-to-access social safety net programs will now be a reality

The Guardian - US

Trump’s tax-and-spending bill passes Congress in major win for president

Early-morning negotiations proved enough to persuade hardline House conservatives to back bill in 218-214 vote

Al Jazeera

Fact-checking Trump’s immigration and One Big Beautiful Bill claims

US president made a series of remarks while touring Florida’s Alligator Alcatraz immigration detention centre.

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The Guardian - US

‘It’s harsh. It’s mean, brutal’: Trump bill to cause most harm to America’s poorest

President embraces Robin-Hood-in-reverse policies to benefit wealthiest and hurt those earning under $50,000

The Guardian - US

How Trump’s bill will supercharge mass deportations by funneling $170bn to Ice

Critics warn the staggering sum dedicated to the agency in the bill will threaten humanitarian protections and disrupt the economy

Reason

Republican Holdouts

Plus: Zohran Mamdani doesn't understand what New York's families need, Lia Thomas titles revoked, and more...

The Guardian - US

Senate Republicans pass Trump’s big bill – but it may cost them in the future

Sweeping policy bill had tumultuous road to passage in Senate – will the final version play well with US voters?

Kiplinger

Elon Musk and Most Taxpayers Don't Like What's in Trump's 'Big Beautiful Bill'

President Trump is betting big on his newest tax cuts, signed into law on July 4. But not everyone is on board.

Euronews

US Senate passes Trump's 'big beautiful' tax and cuts bill after turbulent all-nighter

The package now goes back to the House, where Speaker Mike Johnson had warned senators not to overhaul what his chamber had already approved.

Al Jazeera

Who wins, who loses if Trump’s One Big Beautiful Bill becomes law?

The rich, families with children, some carmakers, will gain, while EV makers, those on food stamps, Medicaid will lose.

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