Show an ad over header. AMP

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).

Why gas prices are back up

Data: EIA and FactSet; Chart: Axios Visuals

Gas prices are hitting new post-pandemic highs across the country, but this isn't a story of America reopening. It's really just a function of the price of oil going up.

By the numbers: Gasoline cost $2.71 on average as of Monday, per the Energy Information Administration. The highest average price was $3.59 in Los Angeles, while the lowest was $2.33 in Houston.

  • All of these prices represent the highest level seen since 2019.

The big picture: The price of crude oil reflects more than half of the cost of a gallon of gasoline. (The rest is refinery costs, distribution costs, and taxes.)

  • Demand for oil has actually been declining, per the New York Fed, but supply has been falling even faster, with the result that prices have now topped $64 for a barrel of Brent crude.

What central bank digital currencies mean for crypto

Central bank digital currencies, or CBDCs,represent the ultimate ratification of digital finance: Its adoption by the most venerated guardians of the international monetary architecture.

Why it matters: Crypto-evangelists often talk about CBDCs in awed terms. But it's far from clear that the bitcoin-and-ethereum crowd would ultimately benefit from money going digital.

Keep reading... Show less

Capitol Police asks for National Guard to stay on-site for two more months

U.S. Capitol Police on Thursday asked that the National Guard remain on-site for an additional 60 days due to ongoing security concerns surrounding the building, AP reports.

Why it matters: While many lawmakers are eager for security measures surrounding the Capitol — including fencing and an increased law enforcement presence — to be lightened, the request by Capitol Police reflects concerns about ongoing threats.

Keep reading... Show less

Americans increasingly see China as an enemy

One in three Americans, and a majority of Republicans, now view China as an enemy of the United States, according to a new survey from Pew Research Center.

By the numbers: Just 9% of Americans consider China a "partner," while 55% see Beijing as a "competitor" and 34% as an "enemy."

Keep reading... Show less

Leaked government documents spotlight Biden's child migrant dilemma

Fresh internal documents from the Department of Health and Human Services show how quickly the number of child migrants crossing the border is overwhelming the administration's stretched resources.

Driving the news: In the week ending March 1, the Border Patrol referred to HHS custody an average of 321 children per day, according to documents obtained by Axios. That's up from a weekly average of 203 in late January and early February — and just 47 per day during the first week of January.

Keep reading... Show less

Mounting emissions data paints bleak picture on Paris climate goals

Researchers keep finding new ways to reveal that nations are together showing very few signs of getting on track to meet the Paris Agreement's goals.

One big question: That's whether a spate of recent analyses to that effect, and scientific reports coming later this year, will move the needle on meaningful new policies (not just targets).

Keep reading... Show less

How the tech stock selloff is hurting average Americans

Data: FactSet; Chart: Axios Visuals

Investors holding the ultra-popular Nasdaq 100 and S&P 500 index funds have been hard hit over the last two weeks as tech shares have been roiled by rising U.S. Treasury yields.

Why it matters: Even though the economy is growing and many U.S. stocks are performing well, most investors are seeing their wealth decline because major indexes no longer reflect the overall economy or even a broad swath of public companies — they reflect the performance of a few of the country's biggest companies.

Keep reading... Show less

UN human rights chief: At least 54 killed, over 1,700 detained since Myanmar coup

Police and military officers in Myanmar have killed at least 54 people during anti-coup protests, while "arbitrarily" detaining over 1,700 people, United Nations Human Rights Commissioner Michelle Bachelet said Thursday.

Why it matters: Protesters have demonstrating across Myanmar for nearly a month, demanding the restoration of democracy after the country's military leaders overthrew its democratically elected government on Feb. 1.

Keep reading... Show less

Insights

mail-copy

Get Goodhumans in your inbox

Most Read

More Stories