Senate Passes President Trump’s Megabill

WSJ Minute Briefing

The Wall Street Journal

Business News, News

3.6 • 631 Ratings

🗓️ 1 July 2025

⏱️ 2 minutes

🔗️ Recording | iTunes | RSS

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Summary

Plus: Fed Chair Jerome Powell cites a solid economy in keeping a wait-and-see stance on interest-rate cuts. And Boeing names a permanent CEO of its defense, space and security business. Anthony Bansie hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Exclusively on Disney Plus.
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0:33.1	Here's your midday brief for Tuesday, July 1st.
0:35.8	I'm Anthony Bancy for the Wall Street Journal.
0:38.4	Senate Republicans squeaked President Trump's tax and spending megabill through the Senate today,
0:42.7	capping a long night of dealmaking to win over holdouts with a tie-breaking vote from Vice President J.D. Vance.
0:48.6	The Senate's 5150 action puts Republicans on the verge of locking in Trump's top legislative priorities,
0:55.8	extended tax cuts, new tax breaks, reductions in Medicaid spending, and more money for border
1:01.3	enforcement and defense. The package would next go to the House, where Republicans would again
1:05.8	need to bridge deep political divides in the party. Federal Reserve Chair Jerome Powell
1:10.7	said that steady economic
1:12.1	activity would allow the central bank to wait and see the effects that tariffs have had on
1:16.9	prices and economic growth before resuming interest rate reductions. Speaking at a conference
1:22.1	in Portugal, hosted by the European Central Bank, Powell declined to make any predictions for
1:26.9	the Fed's upcoming meeting at the end of the month and said that decisions would be shaped by the European Central Bank, Powell declined to make any predictions for the Fed's upcoming
	...

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