Tag Archives: Donald Trump

House GOP bill proposes a number of new tax cuts. Here’s how that could impact your money.

As a Republican-backed bill moves ahead in the House, proposed tax cuts under the measure include some new and surprising changes that could impact the wallets of millions of Americans. 

On Wednesday, the House Ways and Means Committee voted in favor of the bill, which would make Mr. Trump’s 2017 tax cuts permanent while also adding a host of other reductions. 

The extension of the 2017 Tax Cuts and Jobs Act provisions would mean that most taxpayers wouldn’t see much of a change because their tax brackets would remain at the same levels they’ve been at since the cuts took effect in 2018. Without an extension, more than 6 in 10 filers would face a tax increase in 2026, according to an analysis from the nonpartisan Tax Foundation. 

Aside from extending the 2017 tax cuts, the proposed bill would provide taxpayers with an average $1,300 tax reduction, according to the House Ways and Means Committee. Some of the additional tax cuts include those promised on the campaign trail by Mr. Trump, such as eliminating taxes on overtime pay, as well as new provisions that would lower taxes for senior citizens and parents. 

The proposed bill is likely to change as it moves through the legislative process, with House Speaker Mike Johnson, a Republican from Louisiana, aiming to send it to the Senate by Memorial Day. Democratic lawmakers have opposed the bill for its proposed cuts to Medicaid and food stamps, part of the GOP’s goal to find $880 billion in savings to help pay for the tax cuts. 

Some Democrats also pointed out that some of the tax cuts promised by Mr. Trump, such as eliminating taxes on tips, would expire after 2028, limiting the benefits.

“[T]hey made provisions like addressing taxes on tips and overtime pay temporary, as opposed to the cuts for the richest 1%, which they made permanent,” said Rep. Don Beyer, a Democrat from Virginia who serves on the House Ways and Means Committee, in a statement.

Still, the bill released Wednesday by the House’s tax panel provides a laundry list of tax breaks that could soon become law. Here’s what the legislation would do:

Adds a new $4,000 deduction for people 65 and older

Senior citizens who are 65 and older would get a new tax benefit — an extra deduction of $4,000 per filer. 

The new deduction could be used by people who either itemize or take the standard deduction. But there would be an income limit, with the $4,000 deduction available for people with a modified adjusted gross income of $75,000 or less for single filers and $150,000 for married couples who file joint returns. 

The tax break would be available starting in the current 2025 tax year and extend through 2028. 

By contrast, for seniors the latest version of the House bill has one notable omission: There’s no plan to eliminate taxes on Social Security income, as Mr. Trump promised in his campaign. 

Proposing to scrap income taxes on Social Security proved controversial because those taxes directly fund the retirement program. That would likely hasten the insolvency of its trust funds, policy experts have warned. 

Increases the standard deduction for all taxpayers

The current standard deduction, which was expanded under the 2017 tax bill, is set to expire on Dec. 31. The House GOP bill would make the Tax Cuts and Jobs Act’s bigger deduction permanent, as well as give it a boost.  

Starting in the current 2025 tax year through 2028, here’s how the standard deduction would increase:

  • Single taxpayers would see their standard deduction rise from $15,000 to $16,000
  • Head of households would rise from $22,500 to $24,000
  • Married couples filing jointly would increase from $30,000 to $32,000

The standard deduction reduces your tax liability because it lowers your taxable income by that amount. For instance, single taxpayers earning $50,000 would reduce their taxable income to $34,000 for the 2025 tax year under the proposed standard deduction.

Extends and increases the Child Tax Credit

The House bill also extends the $2,000 Child Tax Credit, which otherwise would revert to its pre-Tax Cuts and Jobs Act level of $1,000 per eligible child starting in 2026. That change would be permanent, the House Ways and Means Committee said. 

The proposal would also increase the Child Tax Credit to $2,500 per child for the current 2025 tax year through 2028, after which it would drop back to $2,000. 

Eliminates the 1099-K reporting rule

The proposed legislation would also abolish a controversial rule that would have required payment platforms like Venmo or Paypal to send 1099-K tax forms to anyone receiving over $600. 

Previously, such payment services only had to report users’ income to the Internal Revenue Service if they had more than 200 transactions, exceeding $20,000 in revenue. The IRS had delayed the implementation of the $600 rule after pushback from some online platforms as well as from Republican lawmakers. 

Increases the pass-through deduction for small businesses

The pass-through deduction for small businesses, which was enacted by the Tax Cuts and Jobs Act, also would increase under the House bill. 

The deduction allows small businesses, including partnerships, sole proprietorships (who are often gig workers) and S corporations, to subtract 20% of their qualified business income from their taxes, lowering their tax liability. Under the new bill, the deduction would rise to 23%. 

Eliminates taxes on tips

This follows Mr. Trump’s campaign pledge to eliminate taxes on tipped income, but it would apply only from the current 2025 tax year through 2028. 

The provision would create “an above-the-line deduction for qualified tips received by an individual in an occupation which traditionally and customarily receives tips during a given taxable year,” according to a summary of the bill from the House Ways and Means Committee.

Eliminates taxes on overtime pay

Another proposal from Mr. Trump — to eliminate taxes on eligible workers’ overtime pay — would also become a reality, but only for three years. 

Under the House bill, an above-the-line deduction for OT would be created from the current 2025 tax year through 2028. 

Allow car loan interest to be deducted

The House bill would also eliminate taxes on car loan interest by allowing consumers to deduct up to $10,000 for interest paid on vehicle loans.

This would have an income limit, phasing out for taxpayers with a modified adjusted gross income above $100,000 for single filers or $200,000 for married couples. Vehicles must have been assembled in the U.S. to qualify for the deduction.

This tax break would last only from the current 2025 tax year through 2028.

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Nissan lays off 15% of its global work force amid slipping sales worldwide

Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss Tuesday for the fiscal year that just ended amid slipping vehicle sales in China and other nations, and towering restructuring costs.

Nissan said it will reduce the number of its auto plants to 10 from 17, under what it called its recovery plan to carry out “decisive and bold actions to enhance performance and create a leaner, more resilient business that adapts quickly to market changes.” It did not say which plants were being closed but confirmed the closures will include factories in Japan.

“We have a mountain to climb,” CEO Ivan Espinosa told reporters, stressing the task will not be easy, requiring discipline and team work. “Starting today, we build the future for Nissan.”

The job cuts to be done by March 2028 include the 9,000 head count reduction announced last year. Nissan also previously announced the scrapping of plans to build a battery plant in Japan.

Espinosa, who took the helm earlier this year, said the latest plans followed a careful review of operations, to align production with demand, including coming up with market and product strategies. Nissan will also leverage its partnerships such as the one with Renault SA of France in Europe and Dongfeng Nissan in China, he said.

Nissan said President Trump’s tariffs on auto imports also hurt the company’s results. The Yokohama, Japanese-based automaker racked up a loss of $4.5 billion for the fiscal year through March. It also said its recovery plan includes trying to reduce costs by $3.4 billion.

“As new management, we are taking a prudent approach to reassess our targets and actively seek every possible opportunity to implement and ensure a robust recovery,” Espinosa said

Nissan aims to return to profitability by fiscal year 2026.

But Nissan Chief Financial Officer Jeremie Papin acknowledged the automaker faces serious challenges. Nissan did not give a profit projection for the fiscal year through March 2026, citing uncertainties.

Tariffs weighing on automakers

The Trump administration in March imposed a 25% tariff on the roughly 8 million vehicles assembled abroad that the U.S. imports annually. 

General Motors earlier this month said it’s lowering its profit expectations for the year as it braces for a potential impact from auto tariffs as high as $5 billion in 2025. The revised forecast came after Mr. Trump signed executive orders in April to relax some tariffs on automobiles and car parts.

Ford Motors also pointed to higher U.S. tariffs in announcing last week that it is raising prices on three models produced in Mexico. And Toyota last week said Mr. Trump’s tariffs would cost the company $1.3 billion in just two months. The carmaker stopped short of making predictions on future tariff hits on business, with Toyota CEO Koji Sato saying that any future impact would be “very difficult to forecast.”  

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Israeli strikes in Gaza kill scores, dimming hope for a ceasefire despite Trump’s mounting pressure

Israeli airstrikes pounded northern and southern Gaza on Wednesday, killing at least 60 people, including almost two dozen children, according to local hospitals and health officials in the Hamas-controlled Palestinian territory. The strikes came a day after Israeli Prime Minister Benjamin Netanyahu said there was “no way” he would halt Israel’s offensive in the Palestinian enclave before Hamas is defeated.

At least 50 people, including 22 children, were killed in the strikes around Jabaliya in northern Gaza, according to local hospitals and Gaza’s Hamas-run health ministry. At least 10 other people were killed in the city of Khan Younis, the European Hospital reported. A CBS News cameraman saw multiple bodies on a street in the southern Gazan city.
 
The Israel Defense Forces said it had targeted a Hamas stronghold underneath a hospital.

A Palestinian man carries a wounded child after the European Hospital, in Khan Younis, southern Gaza, was damaged by apparent Israeli airstrikes, May 13, 2025.

Hatem Khaled/REUTERS


That attack came just a day after the Trump administration, bypassing Israel, struck a deal with Hamas – long designated a terrorist group by Israel and the U.S. – to secure the release of the last living American hostage who had been held in Gaza, Edan Alexander. It was a gesture that some thought could lay the groundwork for a ceasefire, but Netanyahu has made it clear he will not halt Israel’s war in Gaza, even if Hamas releases its hostages, until his stated objectives are met, dimming hopes for a truce.

A statement issued by the Israeli leader’s office on Wednesday stressed that Netanyahu remained “determined to complete all of Israel’s war goals: the release of all our hostages, the military and governmental defeat of Hamas, and a promise that Gaza will no longer pose a threat to Israel.”

Netanyahu under mounting pressure from all sides

As CBS News correspondent Debora Patta reported, for the families of the 58 people still held captive in Gaza — as many as 23 of whom Israeli officials believe could still be alive, the joy of Alexander’s release quickly turned to rage as the bombing resumed and intensified following the handover.

At the latest of the regular demonstrations in Israel’s capital, many accused Netanyahu on Tuesday of deliberately prolonging the war sparked by Hamas’ Oct. 7, 2023, terrorist attack.

As President Trump visits the region this week, former Israeli diplomat Alon Pinkas told CBS News that Netanyahu has been left watching from the sidelines.

“Staggeringly, he [Trump] is not coming here,” Pinkas said, referring to the U.S. leader’s itinerary, which includes stops this week in Saudi Arabia, Qatar and the United Arab Emirates. “This is a very visible, very in-your-face kind of move by Trump.”

Pinkas said Netanyahu would need to have a ceasefire deal in the works to remain on Mr. Trump’s good side, and he warned that, “Israel cannot wage the war against the judgment and wishes of the United States government. That’s plain and simple.”

Asked if Netanyahu could feasibly resist the mounting pressure from Trump to end the war, Pinkas said: “Not really. He’s got no ammunition left in his political magazine.

For the moment, Mr. Trump’s pressure on Netanyahu is only diplomatic, with no public discussion of any additional measures, such as limiting supplies of U.S. weapons, as happened briefly under the Biden administration.    

And for now, Netanyahu has intensified the war, and he has continued to maintain a controversial blockade on all humanitarian supplies, fuel and other essential goods entering the enclave since March.

The war in Gaza began when Hamas-led militants killed 1,200 people in the 2023 intrusion into southern Israel. Israel’s retaliatory offensive has killed almost 53,000 Palestinians, many of them women and children, according to Gaza’s Ministry of Health.

Israel’s offensive has obliterated vast swathes of Gaza’s urban landscape and displaced 90% of the population, often multiple times.

France’s Macron calls Netanyahu tactics in Gaza “a disgrace”

International food security experts warned earlier this week that famine could break out in the Gaza Strip if Israel doesn’t lift its blockade and stop its military campaign.

French President Emmanuel Macron strongly denounced Netanyahu’s decision to block aid from entering Gaza as “a disgrace” that has caused a major humanitarian crisis.

“I say it forcefully, what Benjamin Netanyahu’s government is doing today is unacceptable,” Macron said Tuesday evening on TF1 national television. “There’s no medicine. We can’t get the wounded out. Doctors can’t get in. What he’s doing is a disgrace. It’s a disgrace.”

Children clammer for food as charities distribute hot meals to Palestinians in the Jabalia refugee camp, in the northern Gaza Strip, May 14, 2025, amid a months-long blockade of the territory by Israel.

Mahmoud ssa/Anadolu/Getty


Macron, who visited injured Palestinians in El Arish hospital in Egypt last month, called for the reopening of the Gaza border to humanitarian convoys. “Then, yes, we must fight to demilitarize Hamas, free the hostages and build a political solution,” he said.

Netanyahu, in the statement issued by his office on Wednesday, lashed out at the French leader, claiming he had “once again chosen to stand by a murderous Islamist terrorist organization and echo its false propaganda, while accusing Israel of blood libels.”

“Instead of supporting the Western democratic camp that is fighting the Islamist terrorist organizations and calling for the release of the hostages, Macron is once again demanding that Israel surrender and reward terrorism,” the statement said.

Nearly half a million Palestinians are facing possible starvation, living at “catastrophic” levels of hunger, while 1 million others can barely get enough food, according to findings by the Integrated Food Security Phase Classification, a leading international authority on the severity of hunger crises.

Israel has dismissed international warnings that potential famine looms, but it has banned all food, shelter, medicine and any other goods from entering the Palestinian territory for the past 10 weeks, even as it carries out waves of airstrikes and ground operations.

Gaza’s population of around 2.3 million people relies almost entirely on outside aid to survive, because Israel’s 19-month-old military campaign has destroyed most food production capacity inside the territory.

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20 states sue Trump administration over conditions on federal transportation, disaster-relief funds

A coalition of 20 state Democratic attorneys general filed two federal lawsuits on Tuesday, claiming that the Trump administration is threatening to withhold billions of dollars in transportation and disaster-relief funds unless states agree to certain immigration enforcement actions.

According to the complaints, both Secretary of Homeland Security Kristi Noem and Transportation Secretary Sean Duffy have threatened to cut off funding to states that refuse to comply with President Donald Trump’s immigration agenda.

While no federal funding is currently being withheld, California Attorney General Rob Bonta said during a press conference on Tuesday that the threat was “imminent.”

“President Donald Trump can’t use these funds as a bargaining chip as his way of ensuring states abide by his preferred policies,” Bonta added.

Email messages seeking comment were sent Tuesday to the departments of Transportation and Homeland Security.

Both lawsuits say that the Trump administration is violating the U.S. Constitution by trying to dictate federal spending when Congress has that power — not the executive branch.

On April 24, states received letters from the Department of Transportation stating that they must cooperate on immigration efforts and eliminate diversity, equity and inclusion programs or risk losing funds.

New Jersey Attorney General Matthew Platkin criticized the timing of Duffy’s letter when Newark’s airport struggles with radar outages and other issues.

“I wish the administration would stop playing politics with people’s lives,” Platkin said. “I wish Secretary Duffy would do his damn job, which is to make sure planes land on time, not to direct immigration enforcement.”

Illinois Attorney General Kwame Raoul also criticized the administration, calling those funds, “quite literally, lifesaving.”

“This critical funding has nothing to do with immigration, and the administration’s attempts to hold it hostage unless states agree to do the federal government’s job of civil immigration enforcement is unconstitutional and outrageous,” Raoul said. “I am proud of the continued collaboration between state attorneys general and am committed to using all tools at our disposal to fight the Trump administration’s ongoing attempts to play politics with Americans’ lives.”

Meanwhile, on Feb. 24, states received letters from the Department of Homeland Security declaring that states that “refuse to cooperate with, refuse to share information with, or even actively obstruct federal immigration enforcement reject these ideals and the history we share in common as Americans.”

“If any government entity chooses to thumb its nose at the Department of Homeland Security’s national security and public safety mission, it should not receive a single dollar of the Department’s money unless Congress has specifically required it,” Noem wrote in her letter.

Attorneys general behind the lawsuits include the following states: California, Colorado, Connecticut, Delaware, Hawai’i, Illinois, Maine, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Washington, Wisconsin and Vermont.

“Law enforcement agents across Minnesota work hard to protect and serve their communities, and we are truly grateful for all they do. Decisions about how police resources should be allocated to maintain public safety are made at the local level because every community has different safety needs,” Minnesota Attorney General Keith Ellison said. “It is both wrong and unlawful for the Trump Administration to demand Minnesota law enforcement step away from their patrols, investigations, and community-engagement work to instead enforce federal immigration law.”

“These funds are meant to repair aging roads and bridges, strengthen public safety, and ensure law enforcement has the tools they need to act quickly in emergency situations. By clawing back this already-allocated funding, Donald Trump’s White House is prioritizing political posturing over the safety and well-being of Americans,” added Michigan Attorney General Dana Nessel.

The cases are being spearheaded by California but were filed in federal court in Rhode Island, a detail that the attorneys general defended by saying they filed an “any court that is going to be fair and objective and consider our factual presentation and legal analysis.”

The lawsuits are the latest legal actions that Democratic-led states have taken against Trump since he took office earlier this year. Bonta noted that California has filed more than 20 lawsuits against the administration, while Rhode Island Attorney General Peter Neronha said his state has launched more than a dozen.

While the lawsuits have challenged policies on tariffs, federal employee firings to health care research, Trump’s focus on immigration enforcement and the mass deportation of immigrants in the United States illegally have received the most attention.

This has included the president’s promise to mass deport people to the start of a registry required for all those who are in the country illegally.

“What we’re seeing is a creeping authoritarianism,” Neronha said.

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What’s behind Trump’s focus on business deals during Saudi visit



What’s behind Trump’s focus on business deals during Saudi visit – CBS News










































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President Trump delivered remarks at a U.S.-Saudi investment summit as the White House announced a $600 billion investment from Saudi Arabia, including what it touted as the “largest defense sales agreement in history.” Weijia Jiang reports.

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Pete Rose,

Pete Rose and “Shoeless” Joe Jackson were reinstated by Major League Baseball Commissioner Rob Manfred on Tuesday, making both eligible for the sport’s Hall of Fame after their careers were tarnished by sports gambling scandals.

Manfred announced Tuesday that he was changing the league’s policy on permanent ineligibility, saying bans would expire at death. Rose and Jackson were among 17 total players reinstated Tuesday.

Rose’s permanent ban was lifted eight months after his death and came a day before the Cincinnati Reds will honor baseball’s career hits leader with Pete Rose Night.

Also included in Tuesday’s reinstatement were Arnold “Chick” Grandel, Eddie Cicotte, Oscar “Happy” Felsch, Fred McMullin, Charles “Swede” Risberg, George “Buck” Weaver and Claude “Lefty” Williams. They, along with Jackson, were part of the 1919 Chicago Black Sox scandal, in which they were accused of taking bribes from gambling concerns to intentionally lose the World Series that year. The scandal ultimately led to the appointment of the first baseball commissioner, Kenesaw Mountain Landis, who banned the implicated White Sox players.

Jackson’s level of complicity in the Black Sox scandal remains a point of contention. A previous effort to have Jackson reinstated in 2015 resulted in Manfred writing to the Shoeless Joe Jackson Museum, “The results of this work demonstrate to me that it is not possible now, over 95 years since those events took place and were considered by Commissioner Landis, to be certain enough of the truth to overrule Commissioner Landis’ determinations.”

Also reinstated were William Cox, Benny Kauff, Joe Gedeon, Gene Paulette, Lee Magee, Phil Douglas, Albert J. “Cozy” Dolan and Jimmy O’Connell.

Under the Hall of Fame’s current rules, the earliest Rose or Jackson could be inducted would be in 2028.

Rose agreed to a permanent ban on Aug. 23, 1989, following an investigation commissioned by Major League Baseball concluded Rose repeatedly bet on the Reds as a player and manager of the team from 1985-87, a violation of a long-standing MLB rule.

Rose first applied for reinstatement in September 1997, but then-Commissioner Bud Selig never ruled on the request. Manfred in 2015 rejected a petition for reinstatement, saying “Rose has not presented credible evidence of a reconfigured life.”

Rose died Sept. 30 at age 83, and a new petition was filed Jan. 8 by Jeffrey Lenkov, a lawyer who represented Rose. Lenkov and Rose’s daughter Fawn had met with Manfred on Dec. 17.

Rose’s supporters have included U.S. President Donald Trump, who has said he intends to pardon Rose posthumously. Manfred discussed Rose with Mr. Trump when the pair met in April, but he hasn’t disclosed specifics of their conversation.

In a letter to Lenkov, Manfred wrote, “In my view, a determination must be made regarding how the phrase ‘permanently ineligible’ should be interpreted in light of the purposes and policies behind Rule 21, which are to: (1) protect the game from individuals who pose a risk to the integrity of the sport by prohibiting the participation of such individuals; and (2) create a deterrent effect that reduces the likelihood of future violations by others.

“In my view, once an individual has passed away, the purposes of Rule 21 have been served. Obviously, a person no longer with us cannot represent a threat to the integrity of the game. Moreover, it is hard to conceive of a penalty that has more deterrent effect than one that lasts a lifetime with no reprieve. Therefore, I have concluded that permanent ineligibility ends upon the passing of the disciplined individual, and Mr. Rose will be removed from the permanently ineligible list.”

A 17-time All-Star during a playing career from 1963-86, Rose holds record for hits (4,256), games (3,562), at-bats (14,053), plate appearances (15,890) and singles (3,215). He was the 1963 NL Rookie of the Year, 1973 MVP and 1975 World Series MVP. A three-time NL batting champion, he broke the prior hits record of 4,191 set by Ty Cobb from 1905-28.

Cincinnati Reds owner Bob Castellini said Tuesday he was “thankful” for the decision to reinstate Rose.

“Pete is one of the greatest players in baseball history, and Reds Country will continue to celebrate him as we always have,” Castellini wrote in a statement.

The Philadelphia Phillies, of which Rose was a member for five seasons, said in a statement Tuesday that it supported the decision to have him reinstated, calling him “one of the greatest players in the history of the game” and noting his contribution to the franchise’s first World Series title in 1980.

Jackson, a .356 career hitter, died in 1951. He remains one of baseball’s most recognizable names in part for his depiction by Ray Liotta in the 1989 movie Field of Dreams.

Under a rule adopted by the Hall’s board of directors in 1991, anyone on the permanently ineligible list can’t be considered for election to the Hall. Jackson was twice considered on ballots by the Baseball Writers’ Association of America, but received just 0.9% in 1936 and 1% of a nominating vote in 1940.

Rose’s reinstatement occurred too late for him to be considered for the BBWAA ballot. If not on the permanently banned list, Rose would have been eligible on the ballots each from 1992 through 2006. He was written in on 41 votes in 1992 and on 243 of 7,232 ballots (3.4%) over the 15 years, votes that were not counted.

Hall of Fame Chairman of the Board Jane Forbes Clark said in a statement that players affected by Manfred’s ruling Tuesday would be considered.

“The National Baseball Hall of Fame has always maintained that anyone removed from Baseball’s permanently ineligible list will become eligible for Hall of Fame consideration,” she said. “Major League Baseball’s decision to remove deceased individuals from the permanently ineligible list will allow for the Hall of Fame candidacy of such individuals to now be considered.”

Without the ban, both players are eligible for the Hall’s Classic Baseball Era, which next meets to consider players in December 2027 and considers those whose greatest contributions to the sport were before 1980.

A 10-person historical overview committee selects the eight ballot candidates with the approval of the Hall’s board and the ballot is considered by 16 members at the winter meetings, with a 75% or higher vote needed. The committee members include Hall of Fame members, team executives and media/historians.

While many argue Rose should be in the Hall based on his career numbers, voters tasked with selecting players for the Hall are also told to consider a player’s “integrity, sportsmanship, character and contribution to the game.” This clause, Rose and Jackson’s critics argue, should keep them out of the Hall of Fame.

In addition to his gambling, Rose faced other off-the-field issues.

Court documents that came to light as the result of a defamation lawsuit revealed Rose was alleged to have committed statutory rape in the 1970s. According to court documents, Rose acknowledged having sex with a person he claimed he believed was 16 years old —then the age of consent in Ohio — at the time. However, court documents allege she was younger. Rose was married and had two children at the time.

The defamation suit was filed by Rose against John Dowd, the investigator whose report about Rose’s gambling got him banned from MLB. Dowd, during a radio appearance in 2015, also claimed that one of Rose’s associates “ran young girls” to the player during spring training. Dowd repeatedly referred to Rose’s interactions with those girls as “statutory rape.” Rose denied the claims.

Rose also entered guilty pleas on April 20, 1990, to two counts of filing false tax returns, admitting he failed to report $354,968 during a four-year period. Rose was sentenced on July 19, 1990, by U.S. District Judge S. Arthur Spiegel in Cincinnati to five months in prison. He also was fined $50,000 and ordered to perform 1,000 hours of community service as a gym teacher’s assistant with inner-city youths in Cincinnati as part of a one-year probation period. The first three months of the probation were to be spent at the halfway house. Rose repaid the Internal Revenue Service $366,042.

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Trump and Netanyahu showing signs of division as Israel ramps up airstrikes in Gaza



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President Trump is pressuring Israeli Prime Minister Benjamin Netanyahu to strike a hostage deal and end the war in Gaza. The push comes as Israel intensifies airstrikes in Khan Younis. Debora Patta reports.

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Elon Musk Announces Starlink’s Expansion to Saudi Arabia During Trump’s Mideast Tour

Elon Musk attends a “coffee ceremony” while visiting U.S. President Donald Trump at the Saudi Royal Court on May 13, 2025, in Riyadh, Saudi Arabia. Win McNamee/Getty Images

Starlink, the satellite internet venture run by Elon Musk’s SpaceX, already operates the world’s largest constellation with more than 7,000 satellites in low-Earth orbit. Now, the service is expanding its global reach even further, having recently secured approvals in countries such as Vietnam, the Democratic Republic of the Congo and, as Musk announced today (May 13), Saudi Arabia.

I’d also like to thank the kingdom for approving Starlink for maritime and aviation use,” Musk said while speaking at the Saudi-US Investment Forum in Riyadh. He did not provide a timeline for when Starlink service would begin in Saudi Arabia or whether it would extend to residential users. The service is currently available in over 125 countries, including nearby nations like Qatar and Jordan.

Musk is one of the prominent tech leaders accompanying President Donald Trump in Riyadh this week as part of his Middle East visit. Other attendees at the event include OpenAI CEO Sam Altman, Amazon’s Andy Jassy and Nvidia’s Jensen Huang. 

Musk also used the forum to promote several of his other ventures to Saudi officials and investors, including his tunneling company, The Boring Company, and his A.I. startup, xAI. He also said that Tesla’s autonomous robotaxis will eventually operate in Saudi Arabia without sharing any details. “I think it would be very exciting to have autonomous vehicles here in the kingdom, if you’re amenable,” Musk said, describing the vehicles as “robots on four wheels.”

Tesla has increasingly shifted its focus toward robotics and autonomous technology in recent years. Musk said he recently demonstrated the company’s Optimus humanoid robots to both President Donald Trump and Saudi Crown Prince Mohammed bin Salman, and predicted the future deployment of “tens of billions” of such robots.

According to Musk, the rise of humanoid robots could drive a dramatic expansion of the global economy—potentially growing it tenfold—by vastly increasing productivity. He envisioned a world shaped by “universal high income,” where abundant goods and services are widely accessible. “Once you have humanoid robots,” he said, “the actual economic output potential is tremendous—it’s really unlimited.”

Musk recently said he would step away from his role as head of the Department of Government Efficiency (DOGE) and devote more attention to Tesla, which experienced slowing sales and stock selloffs in recent months.



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$TRUMP meme coin buyers spent more than $140 million to get dinner invite with Trump, data shows

Buyers spent more than $140 million to snap up $TRUMP meme coins in a bid to secure an invitation to an “intimate dinner” with President Trump, according to data analytics firm Inca Digital. 

On April 23, the digital currency got a boost when it announced that its top 220 holders as of May 12 would be invited to a dinner with the president. That helped raise the value of the meme coin by more than 40% from the announcement through May 12, partially reversing an 88% slump in the weeks prior.

The top holders of the $TRUMP meme coin spent anywhere from as little as $53,500 to as much as $16.4 million to grab one of the dinner invites with Mr. Trump, Inca Digital’s analysis found. 

As of the contest’s end on May 12, the biggest holder of the digital currency was an account named Sun VIP, according to the analysis. While it’s impossible to know the identity of any of the account owners due to the anonymity of digital wallets, many of the purchases were made through exchanges that don’t accept U.S. customers, such as Bybit and Gate.io, Inca’s research reveals. 

“A ton of these users sent funds to international exchanges,” noted Austin Ryan, director of marketing for Inca Digital, a firm that analyzes crypto data for risk issues like liquidity and front-running. “The thought is that if they are interacting with those exchanges, they are not in the U.S.”

The dinner contest has raised concerns from government watchdogs and Democratic lawmakers about purchases of a Trump-branded asset being linked to access to the president. Also, because the $TRUMP coin is partly owned by an affiliate of the Trump Organization, the president’s real estate organization, he and his family stand to benefit financially from purchases of the meme coin, critics add.

The @TRUMP meme coin site hasn’t disclosed the identities of the 220 top holders, who under the promotion are in line to dine with Mr. Trump. Tony Carrk, the executive director of watchdog group Accountable.US, expressed concern because those holders are “shrouded by their anonymous crypto usernames.” 

Neither the White House nor the Trump Organization immediately responded to requests for comment.

The dinner will take place on May 22 at the Trump National Golf Club in Washington, D.C., according to the $TRUMP meme coin website. The top 25 holders will “will enjoy a Private VIP Reception with President TRUMP” as well as a “Special VIP TOUR,” the site adds.

Eric Trump, one of Mr. Trump’s sons, in January called the $TRUMP coin “the hottest digital meme on earth.”

How Trump makes money from his meme coin

Decentralization is foundational to cryptocurrency. Bitcoin, the world’s most popular crypto, was born in the wake of the 2008 financial crisis as a digital currency meant to be uncontrolled by banks or governments.

$TRUMP meme coins can be traded on a decentralized exchange, which is essentially a place where traders can swap goods without a middleman.

Instead of matching buyers and sellers one by one, decentralized exchanges use something called a liquidity pool to ensure trades can happen easily and instantly. Liquidity pools are essentially an automated pot of funds that pair meme coins like $TRUMP with more popular types of crypto that can be easily traded.

When the $TRUMP meme coin was first launched, its creators initially released 20% of the planned 1 billion total coins. Half of that 20% was put up for public sale while the other half was put into a liquidity pool. CIC Digital, an affiliate of the Trump Organization, and another company called Fight Fight Fight, receive “trading revenue derived from trading activities” of the Trump meme coins, according to its website.

Through the liquidity pool, the creators of Mr. Trump’s meme coins make money by charging tiny transactional fees on each trade.

contributed to this report.

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