science

Trump’s “Big, Beautiful Bill” Narrowly Passes House In 215–214 Vote

President Donald Trump’s multi-trillion-dollar tax package—also known as the “Big, Beautiful Bill”—cleared the House in a last-minute 215–214 vote on Thursday morning. The bill now moves to the Senate, where Republicans are calling for major revisions ahead of an expected vote in August. It aims to prevent a year-end tax hike and a potential debt default but would significantly increase the near-term federal deficit.

🚨 #BREAKING: The House of Representatives ERUPTS in cheers and applause as President Trump’s One Big Beautiful Bill officially PASSES
CONGRATULATIONS, 47! 🇺🇸🔥
✅ No tax on tips or overtime
✅ $175B for deportations and the wall
✅ Tax relief for seniors
✅ Making his 2017 tax… pic.twitter.com/HtchiQqvCx
— Nick Sortor (@nicksortor) May 22, 2025
The 215-214 House vote, with one abstention, was met with loud cheers by House Republicans. Some of the key provisions include:

Extension of Trump-era tax cuts and new relief, such as exempting tips and overtime from taxation.

The state and local tax (SALT) deduction cap will be increased to $40,000, with phase-outs for high earners.

Cuts to safety-net programs such as Medicaid and food stamps, alongside new work requirements starting in December 2026.

Rollbacks on clean energy tax credits, boosting fossil fuel incentives. 

Major increases in military and border security spending.

New taxes targeting elite universities (e.g., Harvard and other Ivy Leagues) and immigrant remittances.

The elimination of EV tax credits, replaced by interest deductions on U.S.-built vehicle loans

It is interesting to note that Reps. Warren Davidson of Ohio and Thomas Massie of Kentucky were the only Republicans to vote against the Big, Beautiful Bill. They warned about mounting deficits that would result if the bill were passed. 

We provided Zero Hedge Pro Subs with an in-depth analysis of how the Big, Beautiful Bill would surge near-term deficits, adding about $5 trillion in debt.

Read more here…

The ‘Big, Beautiful Bill’ Will “Massively” Increase Near-Term Deficits, Add $5 Trillilon In Debt https://t.co/M6h17IJglA
— zerohedge (@zerohedge) May 21, 2025
In the bond market, the US 30-year Treasury yield moved higher after the bill narrowly passed the House, hitting 5.12%, the highest level since October 2023. This level is nearing its highest point since 2007. 

With Treasury yields soaring, perhaps it’s time for Treasury Secretary Scott Bessent to fire up the “big toolkit”…

Rep. Nathaniel Moran (R., Texas) stated: “This bill is our opportunity to deliver on the promises we made. At its core, the one big, beautiful bill is about more than dollars and cents. It’s about liberty and empowering the American people.”

The Wall Street Journal noted, “Republicans are aiming to get the bill to Trump’s desk by July 4. The real deadline might be a bit later.” 

Democrats blasted the bill as taking money away from the social safety net to fund tax cuts for the wealthy…

“It’s really one big broken promise,” said Rep. Suzan DelBene (D., Wash.), adding, “Republicans have spent months fighting over how many Americans they’re going to kick off Medicaid and how fast.”

*Developing…

Tyler Durden
Thu, 05/22/2025 – 07:30…

Two Israeli Embassy Staff Members Gunned Down Outside Jewish Museum In D.C.

Late Wednesday evening there is currently a massive ongoing police response in northwest Washington DC outside the Capital Jewish Museum, after gunfire erupted just outside which killed two staff members of the Israeli Embassy.

“Two Israeli Embassy staff were senselessly killed tonight near the Jewish Museum in Washington DC,” Secretary of Homeland Security Kristi Noem confirmed in a post on X. “We are actively investigating and working to get more information to share.”

The shooting occurred across the street from the FBI’s Washington Field Office, which is located very near to the museum, and Israeli embassy officials are working with local law enforcement and the FBI.

It has further been confirmed that the Israeli ambassador is safe, and was not involved in the incident, and was not present at the time of the shooting.

Underscoring the seriousness of the killings, which appear to have targeted an event which took place at the Jewish Museum, US Attorney General Pam Bondi amd acting US Attorney for DC Jeanine Pirro are currently on the scene in the aftermath. 

🚨BREAKING: Israeli diplomat and companion fatally shot outside the Capital Jewish museum in Washington, D.C., gunman reportedly yelled “Free Palestine!” pic.twitter.com/nHMVK0fCcL
— Liberty Watch (@LibertyWatchHQ) May 22, 2025
Ted Deutch, the CEO of the American Jewish Committee, has described that his organization was hosting an event at the museum and has issued an initial statement:

“We are devastated that an unspeakable act of violence took place outside the venue.”

“At this moment, as we await more information from the police about exactly what transpired, our attention and our hearts are solely with those who were harmed and their families.”

Israel’s ambassador to the United Nations, Danny Danon, has also issued a statement calling it a “depraved act of anti-Semitic terrorism”:

The fatal shooting that took place outside the event that took place at the Jewish Museum in Washington, D.C. is a depraved act of anti-Semitic terrorism. Harming the Jewish community is crossing a red line. We are confident that the US authorities will take strong action against… pic.twitter.com/mVyXHjGyxU
— Danny Danon 🇮🇱 דני דנון (@dannydanon) May 22, 2025
Reports say that a suspect may be in custody, but it is unclear as the security situation is fluid amid the ongoing emergency response.

One man and one woman were shot and killed outside of an event at the Capital Jewish Museum in Washington, D.C., on Wednesday, law enforcement sources told ABC News.

The suspect in the shooting has been identified as a 30-year-old man from Chicago, Washington, D.C. Police Chief Pam Smith said.

“Two staff members of the Israeli embassy were shot this evening at close range while attending a Jewish event at the Capital Jewish Museum in Washington DC,” the spokesperson at the Israeli Embassy in Washington, Tal Naim Cohen, said in a statement on Wednesday night. –ABC News

There are unconfirmed reports that a gunmen screamed “free Palestine” and opened fire:

❗️Suspect opened FIRE before screaming ‘Free Palestine’ — reports
Police have suspect in custody https://t.co/bWKjii0Hon pic.twitter.com/6F8v9S7e0x
— RT (@RT_com) May 22, 2025
Houman David Hemmati, who…

Watch: Tourists Scramble As Ancient Chinese Tower Partially Collapses 

China’s largest remaining drum tower partially collapsed on Monday, and the entire incident was captured on camera. 

NEW: The roof of a 650-year-old drum tower in Anhui, China, collapses.
The incident happened at the Fengyang Drum Tower in eastern China. Officials have since launched an investigation.
The structure was first built in 1375 during the Ming Dynasty.
Part of the building was… pic.twitter.com/5Py0YJOGak
— Collin Rugg (@CollinRugg) May 20, 2025
The video above shows hundreds of roof tiles sliding off the historic Fengyang Drum Tower in eastern China at the start of the week. Local media reports no injuries.  

“The tile falling lasted for a minute or two,” one eyewitness told the state newspaper Yangcheng Evening News. 

Tiles fell from the ancient Drum Tower in Fengyang, #Anhui Province, on May 19. The tower, originally built in 1375 and rebuilt in 1995, had been under renovation since late 2023. Local authorities are investigating the incident. #architecture #China pic.twitter.com/h5U2ABXZLn
— Shanghai Daily (@shanghaidaily) May 20, 2025
Another witness told state media outlet The Beijing News that “no one was in the square and no one was injured” at the time of the incident. 

Located in Anhui province, the drum tower was constructed in 1375 during the Ming Dynasty, with a reconstruction phase in 1995 after it was destroyed in 1853.

China’s local culture and tourism bureau reported no casualties and said the “situation is under investigation.”

Tyler Durden
Wed, 05/21/2025 – 18:00…

Nvidia CEO Calls Biden-Era AI Curbs A “Failure” With China 

Nvidia CEO Jensen Huang called U.S. export controls on artificial intelligence chips to China under the Biden administration’s AI diffusion rule a “failure” that risks ceding the $50 billion Chinese AI chip market to rivals like Chinese tech giant Huawei. 

Huang delivered a keynote speech at Computex in Taipei, Taiwan, earlier today in which he said, “All in all, the export control was a failure,” adding, “The fundamental assumptions that led to the AI diffusion rule in the beginning, in the first place, have been proven to be fundamentally flawed.”

Huang was referring to the Biden-Harris regime era, where the U.S. blocked sales of advanced AI chips to China, which only forced companies to buy advanced chips from its competitor, Huawei. This also sparked a domestic wave of investment to build out supply chains for advanced AI chipmaking to reduce reliance on outside manufacturers. 

He said China alone will account for a $50 billion opportunity in 2026, warning that if U.S. tech companies were still cut off from the Chinese market, this would only suggest that local players would buy from competitors. 

“China has 50% of the world’s AI developers, and it’s important that when they develop on an architecture, they develop on Nvidia, or at least American technology,” Huang pointed out. 

Huang praised President Trump’s move to scrap the previous administration’s AI diffusion rule: “President Trump realizes it’s exactly the wrong goal.” 

Under the Biden administration, Nvidia’s China market share collapsed from 95% to 50%. 

Last week, Huang joined President Trump on a Gulf States tour that resulted in massive Blackwell deals for Nividia in Saudi Arabia. 

Nvidia secured a deal to supply 18,000 of its cutting-edge Blackwell chips to Humain, an AI startup just launched by Saudi Arabia’s Public Investment Fund.

Huang stated last week:

“There’s no evidence of any AI chip diversion. These are massive systems. The Grace Blackwell system is nearly two tons, and so you’re not going to be putting that in your pocket or your backpack anytime soon.

“The important thing is that the countries and the companies that we sell to recognize that diversion is not allowed and everybody would like to continue to buy Nvidia technology. And so they monitor themselves very carefully.”

“With the AI Diffusion Rule revoked, America will have a once-in-a-generation opportunity to lead the next industrial revolution and create high-paying U.S. jobs, build new U.S.-supplied infrastructure, and alleviate the trade deficit,” an Nvidia spokesperson told The Wall Street Journal last week. 

Reuters noted, “Trump administration officials are weighing discarding the tiered approach to chip export curbs and replacing it with a global licensing regime with government-to-government agreements, which could give the U.S. clout in trade talks.”

Given that the Biden-era AI diffusion rule was a “failure,” in the words of Nvidia’s CEO, one might question whether the policy ultimately benefited Chinese firms by sidelining Nvidia and allowing local competitors to gain market share.

Looking ahead, Nvidia will report earnings on Wednesday. 

Tyler Durden
Wed, 05/21/2025 – 07:20…

Trump Allows Massive New York Offshore Wind Project To Restart After NatGas Compromise

The Trump administration has lifted a month-old stop-work order on Empire Wind, a $5 billion wind farm project off the coast of New York, in a compromise with the state that will also see cancelled plans for a gas pipeline revived, officials said on Tuesday.

Norway’s Equinor said construction work on the project, which is expected to provide power for half a million homes from 2027 onwards, can now resume. Shares in Equinor, which is mostly reliant on oil and gas, rose on the news. 

Denmark’s Orsted, the world’s largest offshore wind farm developer, which is constructing two plants off the coast of the United States, saw its shares jump by 15%. 

U.S. Interior Secretary Doug Burgum, who had issued the stop order on Empire Wind on April 16, said he was encouraged that New York Governor Kathy Hochul will now allow new gas pipeline capacity to move forward. The deal could revive plans to build the proposed Constitution natural gas pipeline from Pennsylvania to New York, which was cancelled in 2020 after years of regulatory and legal battles over environmental and other concerns.

“Americans who live in New York and New England would see significant economic benefits and lower utility costs from increased access to reliable, affordable, clean American natural gas,” Burgum wrote in a post on X on Monday. Hochul in a statement said New York would work with the U.S. administration and private entities on projects that meet the legal requirements under New York law.

“The road ahead for the Constitution Pipeline remains bumpy, but the broad strokes of a logical deal could be a win-win for end users,” analysts at energy consulting firm EBW Analytics said in a note.

Officials at U.S. energy firm Williams Cos, one of Constitution Pipeline’s joint venture partners, were not immediately available for comment. With U.S. President Donald Trump back in office and voicing his support for the Constitution project, executives at Williams have said the company was looking at dusting off plans for the pipeline under the right circumstances.

Norwegian Finance Minister Jens Stoltenberg, a former NATO chief who had discussed Equinor’s case with U.S. policymakers, said the deal to unblock the wind farm was ultimately a matter to be settled between U.S. authorities.
“This is an agreement about natural gas and wind made in the United States,” Stoltenberg told reporters in Oslo.
More broadly, he said the reversal was good news for investors in the U.S. as the stop-work order threatened to create uncertainty after permits had been granted by U.S. authorities.

Equinor had warned it stood to lose billions of dollars due to the order which sent shockwaves through the offshore wind industry, raising concerns that fully permitted developments representing billions in investment are not safe.

“This was an extraordinary situation where a fully concepted and approved project was stopped. I take it as a very positive sign that explaining the facts of this has changed the position,” Equinor CEO Anders Opedal told Reuters.
Officials from the U.S….

After Credit Downgrade, Maryland’s Leftist Governor Torpedoes Reparations Bill To Avoid Political Blowback

The optics are grim for far-left Maryland Governor Wes Moore. As the state grapples with a fiscal crisis (deficit explosion), a credit downgrade, illegal alien invasion, violent crime, the looming threat of resident and business flight, a potential tsunami of new taxes, and a worsening power crisis, Moore is facing a growing backlash from all Marylanders. His ability to lead is increasingly being questioned—and it’s becoming clear he’s far from presidential material.

Moore has managed to anger both sides of the political aisle. The latest outrage comes from within his own party after he vetoed a bill that would have established a state commission to study and recommend reparations for African Americans affected by slavery.

In a letter explaining his decision, Moore said it’s not the time for another study, emphasizing the need for direct action to address racial disparities such as the wealth gap, homeownership, education, and food insecurity.

“I will always protect and defend the full history of African Americans in our state and country,” Moore wrote in his letter, adding, “But in light of the many important studies that have taken place on this issue over nearly three decades, now is the time to focus on the work itself: Narrowing the racial wealth gap, expanding homeownership, uplifting entrepreneurs of color, and closing the foundational disparities that lead to inequality — from food insecurity to education.”

He continued: “We have moved in partnership with leaders across the state to uplift Black families and address racial disparities in our communities. That is the context in which I’ve made this difficult decision. Because while I appreciate the work that went into this legislation, I strongly believe now is not the time for another study. Now is the time for continued action that delivers results for the people we serve.”

Moore’s rationale—more likely crafted by his advisors—appears rooted in political optics. These far-left redistribution programs are so detached from capitalist principles and Western values that they risk being deeply unpopular, especially at a time when Maryland’s finances are unraveling after decades of Democratic overspending and an economy overly dependent on government funding.

We suspect Moore’s veto has also angered hardline Marxist Democrats in the state, who continue to push for socialist systems that redistribute wealth from the productive to the less productive. Under the current leadership of activist progressives, Maryland is on a death spiral—and it’s not us saying this—but some leaders of some of the largest companies that operate in the Baltimore area have told us this.

With Democrats furious over Moore’s veto of the reparations bill, the governor has now managed to infuriate both sides of the political aisle.

The Maryland Legislative Black Caucus was not pleased with Moore: 

“The state’s first black governor chose to block this historic legislation that would have moved the state toward directly repairing the harm of enslavement.”

Meanwhile, Maryland’s financial outlook continues to deteriorate, with a $3 billion budget shortfall looming—likely paving the way for new taxes and triggering yet another wave…

“They Want War” – Martin Armstrong Slams European Leaders Reinstating Military Drafts

Via  Greg Hunter’s USAWatchdog.com,

Legendary financial and geopolitical cycle analyst Martin Armstrong is back with an update on his big turn toward war in Ukraine with Russia.  

Two weeks ago on USAW, Armstrong predicted, “After May 15, war is turning up (in Ukraine) and it will be turning up into 2026.”  

That prediction paid off to the exact day as peace talks between Russia and Ukraine ended on May 15 after just two hours, and neither side agreed to meet again.  

War is already here, and there is no stopping it with peace talks.  Armstrong says, “Putin knows and understands this is not a just a war with Ukraine, this is a war with NATO…”

“If Putin agrees to a 30-day ceasefire with Ukraine, what’s that going to do?  Absolutely nothing.  

You have every European country reinstituting drafts.  In Germany, even people 60 years old have been told to report.  Poland has ordered every able-bodied man to show up for military training.  They want war.  Their economy is collapsing.  You hear about this de-dollarization, and it’s not happening.  The capitalization of just the New York Stock Exchange is worth more than all of Europe combined.  That’s just the New York Stock Exchange…

You’ve got Macron in France, they call him the ‘Petite Napolean.’. . . Without war, Europe is going to collapse.  It’s in a sovereign debt crisis . . . They have done everything against the economy.”

Armstong thinks Russia will finish off Ukraine sometime in 2027 and Europe a year or two after that.  And, Yes, Armstrong still thinks Ukraine will disappear from the map.

Armstrong urged his contacts in Washington to “Get the hell out of NATO.”  It seems some in the US government are considering this warning as this headline breaks today: “US to Begin European Troop Withdrawal Talks, NATO Ambassador Says.”  Armstrong says, 

“I have been told by some very influential people on Capitol Hill ‘you’re right, we agree.’  That’s what I have been told. . . . I have been complaining about this for months, and my view is Europe is committing suicide, and let’s not be part of it this time.”

Is President Trump getting this message?  Armstrong says, “Yes, I believe so. . . . Trump also said a peace deal does not seem likely, the hatred is too great on both sides.”

The neocons back home also want war with Russia and have wanted it for a very long time.  Trump is either going to make peace or walk away and not participate.  Maybe this is why former FBI Director James Comey put out his not-so-cryptic call to assassinate President Trump with his “86 47” now deleted Instagram post.  Comey was the man who held Armstrong in prison illegally for contempt for 7 years. 

Armstrong says, “Comey has always been part of it.  Just for the record, he was the US Attorney in New York.  He’s the one who kept me in contempt until the Supreme Court said what the hell is going on?  Then, they…

The 3 Pillars Of The American Idea

Authored by Robert Curry via RealClearWire.com,

Unalienable rights and self-evident truths are the two core ideas of the American founding.  

Expand the number of core ideas under consideration to three and you get unalienable rights, self-evident truths, and free market economics.

You could call them the three pillars of the American Idea.

These three pillars are the direct gifts to America of three great thinkers of the Scottish Enlightenment: Francis Hutcheson, Adam Smith, and Thomas Reid.

Their thinking — known today as “common sense realism” — took America by storm at precisely the right time to shape America fundamentally.

Francis Hutcheson

Francis Hutcheson: “Our rights are either alienable or unalienable …”                     

A revolution in thinking about our rights preceded the American Revolution. In the words of George Washington, America’s founding took place during a time “when the rights of mankind were better understood and more clearly defined than at any former period.” Hutcheson’s analysis of our rights showed the way.

The meaning of Hutcheson’s distinction was sharp and clear in the founders’ time but to understand it today you and I must first be clear about the meaning of “alienable.” Here is its complete definition in my dictionary: “adj. Law. Capable of being transferred to the ownership of another.” Your right to your car is an alienable right; because your car is your property, you can sell your car or give it away — but our rights to our lives and our liberty are unalienable, that is, not property, not capable of being transferred to the ownership of another.

Hutcheson was challenging John Locke’s account of our rights — and in so doing he helped ignite the American Revolution. Locke, you see, had defined our rights in terms of property. Locke: “Man … hath by nature a power … to preserve his property — that is, his life, liberty and estate.” According to Hutcheson and the founders, our rights to our lives and our liberty are not property; those rights are unalienable, inherent, essential, and not transferrable.

Hutcheson’s distinction provided the intellectual foundation for two of the greatest achievements in world history, Adam Smith’s “The Wealth of Nations” and the Declaration of Independence. Adam Smith’s focus was our alienable rights; the American founders focused on our unalienable rights.

The Declaration and “Wealth” both entered the world they were to transform in the same year, 1776.

1776 marks the economic and political boundary between the world in which you and I live and all that had gone before.

Adam Smith

Francis Hutcheson mentored Adam Smith. Upon Hutcheson’s death, Smith was appointed to the prestigious professorship at the University of Glasgow Hutcheson had held.  

Smith’s epoch-making “Inquiry into the Nature and Causes of the Wealth of Nations” is the foundation of free market economics. Hutcheson’s analysis of our rights set the direction Smith took. In “Wealth” Smith famously demonstrated that the division of labor is the source of the wealth of nations. In one of the most frequently quoted passages from “Wealth,” Smith makes clear the source in human nature of the all-important division of labor: “This…

Vance Abruptly Cancels Israel Visit As IDF Expands Gaza Operations

More friction between Israel and the United States has come to light Monday as Vice President JD Vance has canceled a planned official trip to Israel due to the expansion of Israel’s military operation in Gaza, according to a senior US official cited in Axios.

The report emphasizes that “The US official said Vance made the decision because he didn’t want his trip to suggest the Trump administration endorsed the Israeli decision to launch a massive operation at a time when the U.S. is pushing for a ceasefire and hostage deal.”
VP Vance in Rome. AFP/Getty Images

Still, Vance sought to downplay this as purely a political pressure move or strong signaling to Israel by saying it comes down to “logistical” issues.

“Logistically, it was just a little bit too hard on basic things like, who the hell is going to take care of our kids if we take another couple of days overseas?” he said Monday in response to a question about the trip. “I’m sure we’ll visit Israel sometime in the future, but not today,” Vance added. The question of childcare or babysitting is certainly an unexpected reason or explanation, or dubious.

Starting Friday the Israel Defense Forces (IDF) announced an expanded mobilization of troops for operation ‘Gideon’s Chariots’. Some two million Palestinians are expected to be forced into a “humanitarian zone” while most of the enclave is destroyed and flattened.

The policy somewhat contradicts Trump’s main messaging during last week’s Gulf tour, wherein he emphasized peace through deal-making, and not ‘chaos’ in the war-torn Middle East. 

According to a timeline of the Vance trip cancellation issued by Axios:

Additional discussions took place on Sunday between U.S. and Israeli officials to prepare for Vance’s visit. Reports soon popped up in the Israeli press that Vance might arrive on Tuesday.
Several hours later, a White House official denied the reports in a statement to reporters traveling with the VP. “While the Secret Service has engaged in contingency planning for the addition of several potential countries, no additional visits were at any point decided upon, and logistical constraints have precluded an extension of his travel beyond Rome. He will return to Washington on Monday.”
In the White House press briefing room Monday morning, Press Secretary Karoline Leavitt responded to a question by ZeroHedge by saying President Trump “has made it very clear he wants to see this conflict in the region end.”

The good news I suppose is that the right decison was made not to send Vance as it would have validated Israel’s expanded ground op. The bad news is the Trump Administration isn’t pressing Israel to rethink a campaign Witkoff reportedly described as Israel’s pointless war. https://t.co/hb4IZ4WQk2
— Aaron David Miller (@aarondmiller2) May 19, 2025
“The president is moving as quickly as he possibly can and working overtime to end these conflicts in both Israel and Gaza and also the Russia-Ukraine war,” Leavitt added. “The president made it very clear to Hamas that he wanted to see all hostages released.”

Several reports earlier this month pointed to severely strained ties between Trump…