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Business & Economy
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Business & Economy
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Republicans target NPR, PBS funding in DOGE push
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Republicans accused NPR and PBS of bias against conservatives in a Wednesday hearing, arguing funding public broadcasters is a waste of taxpayer money.
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The subcommittee hearing, led by Chair Rep. Marjorie Taylor Greene (R-Ga.), featured testimonies from NPR CEO Katherine Maher and PBS President Paula Kerger.
During the tense hearing, Republicans said the two media organizations were out of touch with large swaths of Americans, while grilling the executives over their outlets’ funding and editorial objectivity.
“People who listen to NPR are totally misinformed,” Rep. James Comer (R-Ky.) said during his questioning. “I have a problem with that because you get federal funds.”
“Because of technology today, I don’t think there’s a role for public radio anymore,” he said.
Greene, the committee’s chair, indicated she plans to recommend to the administration’s newly created Department of Government Efficiency (DOGE) that the Corporation for Public Broadcasting (CPB) be totally abolished.
“The [CPB] is using taxpayer dollars to actively suppress the truth and produce some of the most ludicrous content,” she said.
The Hill’s Dominick Mastrangelo has more takeaways here.
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Welcome to The Hill’s Business & Economy newsletter, I’m Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.
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Did someone forward you this newsletter? Subscribe here.
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Key business and economic news with implications this week and beyond:
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Congress must act by August to prevent debt default, CBO warns
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The federal government could default on its debt as soon as August without action from Congress, the Congressional Budget Office (CBO) estimated on Wednesday.
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Trump announces 25 percent tariff on all car imports
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President Trump on Wednesday announced he was imposing a 25 percent tariff on foreign-made vehicle imports, marking the latest escalation of his trade war against other nations.
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Trump family crypto firm launches stablecoin
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World Liberty Financial, a cryptocurrency venture created by President Trump and his sons, announced plans Tuesday to launch a stablecoin.
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Support for TikTok ban plunged over past 2 years: Poll
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The number of Americans who support banning TikTok has fallen dramatically over the past two years, according to a new poll.
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Would ‘current policy baseline’ violate Byrd Rule?
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Welcome to Tax Watch, a new feature focused on the fight over tax reform and the push to extend the 2017 Trump tax cuts this year.
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House Budget Committee Chair Jodey Arrington (R-Texas) is worried that Republicans’ preferred accounting assumption for projecting the cost of their tax cut and spending bill could violate Senate rules.
Specifically, he’s concerned that it could break the Byrd Rule, which requires that bills have a material effect on the budget in the short term but no long-term effect. Arrington said that both of those requirements might not be met if Republicans use the “current policy baseline,” which bakes in the $4 to $5 trillion cost of extending the Trump tax cuts.
“My concern with [the Senate parliamentarian] rendering a positive position on it is that according to the Byrd Rule, whatever policy you legislate has to have a material impact to the budget. ‘Current policy’ wouldn’t show an impact to the budget,” Arrington told The Hill on Tuesday.
“One of the other main tenants is [that] you can’t increase the deficit outside the 10-year window. Well, even though there’s no impact to the budget, there is an increase to the deficit outside the 10-year window,” he added.
— Tobias Burns
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The Hill’s Evening Report breaks down the day’s big political stories and looks ahead to tomorrow. Click here to sign up & get it in your inbox
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Upcoming news themes and events we’re watching:
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- The Bureau of Economic Analysis releases the final estimate of gross domestic product growth for the fourth quarter of 2024 Thursday at 8:30 a.m.
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Branch out with more stories from the day:
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In closing remarks, prosecutor says Frank founder lied to JPMorgan Chase to secure $175 million deal
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NEW YORK (AP) — The young chief executive of a startup that claimed to have helped millions of college …
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Business and economic news we’ve flagged from other outlets:
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- Rivals Pounce on Paul Weiss, a Top Law Firm, After Trump’s Order (NYT)
- The average Wall Street bonus is now 4 times a U.S. worker’s salary’ (WaPo)
- Tesla shares drop on plunging European sales, concerns about Trump’s tariffs (CNBC)
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Top stories on The Hill right now:
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Appeals court won’t lift Boasberg’s order blocking Alien Enemies Act
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A federal appeals court in a 2-1 decision Wednesday refused to lift U.S. District Judge James Boasberg’s order blocking the Trump administration from swiftly deporting migrants under the Alien Enemies Act. Read more
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Democrat raising Hegseth’s drinking sparks fury from Ratcliffe: ‘An offensive line of questioning’
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Rep. Jimmy Gomez’s (D-Calif.) questions about Defense Secretary Pete Hegseth’s drinking habits sparked fury from intelligence leaders at a House committee hearing Wednesday. Read more
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Opinions related to business and economic issues submitted to The Hill:
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- The Trump tax cuts don’t have to be paid for
- The seen and unseen harms of tariffs will upend US manufacturing
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You’re all caught up. See you tomorrow!
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