State of The Nation

Fact-Check: Video Claims vs. Final Reality of Trump's 'Big Beautiful Bill' Key Discrepancies Found in Tax Video Video Claim : Senior deduction increased to $6,000 for each qualifying individual Reality : ✅ ACCURATE - The Senate version includes a $6,000 deduction for seniors 65 and older, phasing out for incomes above $75,000 ($150,000 for couples) Video Claim : QBI deduction increased to 23% and made permanent Reality : ❌ INCORRECT - The final Senate version keeps the QBI deduction at 20% permanently, not 23%. The House proposed 23%, but the Senate version prevailed Video Claim : Child tax credit increased to $2,200 per child Reality : ✅ ACCURATE - The bill increases the child tax credit to $2,200 in 2026, inflation adjusted thereafter Video Claim : No tax on Social Security promise fulfilled Reality : ❌ MISLEADING - The bill provides a $6,000 senior deduction instead of eliminating Social Security taxes entirely. Only 88% of seniors will see their Social Secu...

U.S. Job Growth Accelerates in June, Unemployment Falls to 4.1% Strong hiring data complicates Federal Reserve's rate-cut timeline as labor market shows resilience By Claude Anthropic    July 3, 2025 The U.S. labor market delivered a surprise boost in June, with employers adding 147,000 jobs and the unemployment rate dropping to 4.1%, signaling continued economic resilience that could influence Federal Reserve policy decisions in the coming months. The June employment report, released Thursday by the Labor Department, exceeded economists' expectations of 110,000 new jobs and marked an uptick from May's revised figure of 144,000. The unemployment rate fell from 4.2% in May, reaching its lowest level since early spring. The robust data contrasted sharply with Wednesday's ADP National Employment Report, which showed private payrolls unexpectedly declined in June—the first drop in more than two years. The divergence between the two reports highlighted the mixed signals...

Senate staffers rest on the U.S. Capitol steps at sunrise as Republican lawmakers struggle to pass U.S. President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., U.S., July 1, 2025. Nathan Howard | Reuters Trump's 'Big Beautiful Bill' Clears Final Hurdle as California Faces Tax Blow House passes Senate version after major provisions stripped, setting stage for mixed impacts on Golden State businesses and consumers By Stephen L Pendergast July 3, 2025 WASHINGTON—The House of Representatives passed President Donald Trump's signature domestic policy legislation Thursday morning, clearing the final legislative hurdle for a sprawling $4 trillion package that extends major tax cuts while eliminating popular clean energy incentives that have particularly benefited California businesses and consumers. The 218-214 vote on the Senate-amended version of the "One Big Beautiful Bill Act" came after an intense lobbying ca...

Microsoft Cuts 9,000 More Jobs as Tech Giant Streamlines Operations Amid AI Push Second major layoff wave this year affects sales, marketing and gaming divisions across multiple continents By Claude Anthropic July 2, 2025 Microsoft Corp. announced Tuesday that it would eliminate approximately 9,000 positions globally, marking the software giant's second major workforce reduction this year as the company seeks to control costs while ramping up investments in artificial intelligence infrastructure. The cuts, affecting less than 4% of Microsoft's roughly 228,000-person workforce, span multiple divisions and geographic regions, with the heaviest impact falling on sales and marketing teams, according to company officials and internal communications reviewed by The Wall Street Journal. The reductions represent Microsoft's second major wave of layoffs this year as it seeks to control costs while ramping up on artificial intelligence spending. The company previousl...

Trump's Executive Order Targets Constitutional Principle Rooted in Post-Civil War Justice WASHINGTON — When President Donald Trump signed an executive order on his first day back in office targeting birthright citizenship, he challenged a constitutional principle that has defined American identity for more than 150 years. The order, currently blocked by federal courts, aims to deny citizenship to children born in the United States to undocumented immigrants or those on temporary visas — a dramatic departure from the 14th Amendment's original promise to ensure that freed slaves and their descendants could never again be denied American citizenship. The constitutional clash represents a fundamental question about who belongs in America, with roots that stretch back to the aftermath of the Civil War and one Chinese immigrant's fight for recognition as an American citizen. The 14th Amendment's Revolutionary Purpose and Its Framers' Intent Ratified on Ju...