Wednesday, May 21st, 2025 - Trump’s “big beautiful bill”; Golden Dome plan; Noem flubs habeas corpus; Mortgage rates surge and more

Today’s Headlines: Congress is currently hashing out a sweeping reconciliation bill—dubbed by President Trump as “one big beautiful bill”—that outlines his administration’s tax and spending priorities, though its final form remains uncertain. Key provisions include extending the 2017 tax cuts, which would add an estimated $2.7 trillion to the national deficit by 2034, ramping up ICE funding, and introducing Medicaid work requirements. Trump visited Capitol Hill to rally support amid internal GOP resistance, as Speaker Mike Johnson aims to pass the bill before Memorial Day recess. As part of this package, Trump and Defense Secretary Pete Hegseth announced a $25 billion down payment for a proposed $175 billion missile defense system called the “Golden Dome,” modeled on Israel’s Iron Dome and intended to guard against nuclear and hypersonic threats. Meanwhile, Homeland Security Secretary Kristi Noem sparked backlash after incorrectly defining habeas corpus during Senate testimony, raising alarms as the White House reportedly considers suspending the constitutional protection. On the economic front, mortgage rates have surged past 7%—a 25-year high—following a U.S. credit downgrade by Moody’s. And in tech-meets-politics news, Elon Musk told the Qatar Economic Forum he plans to scale back political donations, though quickly added he might resume them if he sees a reason—fueling speculation his political capital may be waning. Resources/Articles mentioned in this episode: WA Post: Trump tries to persuade, and threaten, GOP to support his budget bill Axios: Trump and Hegseth unveil $175 billion plans for Golden Dome missile shield AP News: Trump's Homeland Security secretary says habeas corpus lets him 'remove people from this country' CBS News: Mortgage rates climb back above 7% after Moody's U.S. debt downgrade Bloomberg: Elon Musk Interview In Full Morning Announcements is produced by Sami Sage and edited by Grace Hernandez-Johnson Learn more about your ad choices. Visit megaphone.fm/adchoices