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House passes defense spending bill with GOP support, as Trump threatens veto

The House voted 335-78 on Tuesday to pass the National Defense Authorization Act (NDAA), which authorizes a must-pass $740 million budget for defense spending.

Why it matters: President Trump has repeatedly threatened to veto the bill this year, demanding that Congress repeal a federal law that protects social media sites from legal liability. The NDAA has passed every year since 1962.


  • Trump's opposition also grew after an amendment was added to rename 10 military bases that referenced the Confederacy.

Details: The bill also provides a pay raise for troops and would give paid parental leave for federal employees.

  • The Elijah Cummings Federal Employee Anti-Discrimination Act — which would require federal agencies to create equal employment opportunity programs and protect workers from retaliation — is also included.

Our thought bubble, via Axios' Alayna Treene: Trump is still threatening to veto the defense spending bill, but it has strong bipartisan support. Most lawmakers hope that Trump's veto threats are hollow and that he'll cave once both chambers pass the bill with significant Republican support.

  • Republican lawmakers also believe they have the votes to override a veto if needed.

What to watch: Although he said he would support the defense spending bill, House Republican Leader Kevin McCarthy told reporters on Tuesday that he would not override a presidential veto — putting him at odds with other top GOP members, including Rep. Liz Cheney (R-Wyo).

Major companies ask Colorado residents not to apply for remote positions

Major companies have said in recent job postings that Colorado residents are ineligible to apply for certain remote positions because a new state law requires businesses to disclose the expected salary or pay range for positions, according to the Wall Street Journal.

Why it matters: The law, which went into effect in January, is meant to help close the gender wage gap and to promote wage transparency for employees, but companies have said Coloradans need not apply to avoid disclosing the information.

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In photos: Communities across nation celebrate Juneteenth

People across the country are celebrating Juneteenth National Independence Day.

The big picture: The date, June 19, memorializes when some of the last enslaved people in Texas learned about their freedom under the Emancipation Proclamation in 1865.

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Separate and unequal paths to business

When a bank turned down George Johnson for a business loan, he got creative. He returned and told the bank he needed $250 to take his wife on a vacation — and was approved. Then he invested the cash in his business, which became the first Black enterprise to trade on the American Stock Exchange.

Why it matters: The highways to success in the U.S. market economy — in entrepreneurship, corporate leadership and wealth creation — are often punctuated with roadblocks and winding detours for people of color.

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Attempting to reform gig work via co-ops

Ride-hailing service The Drivers Cooperative recently debuted in New York City, claiming that its lack of VC funding would result in better driver pay and lower passenger costs.

Why it matters: TDC’s approach is a direct rebuke to the venture capital-fueled gig economy model.

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Conservative cleric Ebrahim Raisi elected Iran's president

Hardliner Ebrahim Raisi easily won Friday's presidential election in Iran, recording 62% of the vote with more than 90% of ballots counted.

Why it matters: Currently the head of Iran's judiciary, Raisi is a close confidant of Supreme Leader Ali Khamenei and has the support of the Islamic Revolutionary Guard Corps (IRGC). His victory solidifies him as a leading candidate to succeed Khamenei, though Friday's low turnout speaks to the disillusionment of many Iranian voters.

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Juneteenth and the country enslaved labor built on the backs of Black Americans

Juneteenth, a once-obscure commemoration of emancipation of enslaved people in Texas, has transformed into an annual reminder about how slavery robbed Black Americans of generational wealth.

Why it matters: That lack of generational wealth still denies Black families the economic security that many white families take for granted.

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Biden will meet with U.S. financial regulators on Monday

President Biden will meet with financial regulators on Monday.

Driving the news: "The meeting will cover regulatory priorities including climate-related financial risk and agency actions to promote financial inclusion and to responsibly increase access to credit," said press secretary Jen Psaki, according to a press pool report.

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UN condemns Myanmar military coup, calls for arms embargo

The United Nations General Assembly on Friday condemned Myanmar's military coup and called for an arms embargo against the country, AP reports.

Why it matters: The rare move demonstrates widespread global opposition to Myanmar's military junta, which overthrew the country's democratically elected government and seized power on Feb. 1.

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