Latest / Apple News Today / What to know about the proposed debt-ceiling deal
Transcript
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- 0:01Shumita Basu, Narrating: Good morning! It's Tuesday, May 30th. I'm Shumita Basu. This is "Apple News Today." On today's show, what's in President Biden and House Speaker McCarthy's proposed agreement to avoid a government default, how Vermont became a national leader in childcare, and the food fight over the phrase "Taco Tuesday."
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- 0:03But first, let's catch up on a few big international headlines from the long weekend. Russian officials said Moscow was hit with drone strikes on Tuesday morning, causing some damage to buildings. This would mark the first time drones have hit residential areas in the city, according to "NBC News." A Ukrainian official said Ukraine was not directly involved. It comes just hours after Ukraine's capital, Kyiv, was hit by a series of drone strikes as well, reportedly killing at least one person.
- 0:04In Turkey, President Recep Tayyip Erdoğan won a close run-off for reelection on Sunday, cementing another five-year term. He got a little over 52% of the vote. Erdoğan has been a dominant figure in Turkish politics for two decades. He now enters his third decade, having consolidated a lot of power under his role as president.
- 0:05And yesterday in Uganda, President Yoweri Museveni signed a series of strict anti-LGBTQ+ bills into law, among the harshest in the world. Homosexuality was already illegal in Uganda. Now, anyone who engages in same-sex sexual acts can be sentenced to life in prison, and in some cases even the death penalty. Journalist Halima Athumani, reporting from Uganda's capital, explained the details of the new law to "NPR."
- 0:06[START NPR ARCHIVAL CLIP]
- 0:07Halima Athumani: In addition to this, people who are seen as promoting homosexuality could face up to 20 years in prison. It would also seek to prosecute those who knowingly allow gay people to have sex on their premises, from private residences to hotels.
- 0:08[END NPR ARCHIVAL CLIP]
- 0:09The UN Human Rights Office condemned the bill's passage, calling it a "recipe for systematic violations of the rights of LGBT people and the wider population."
- 0:10[SOMBER MUSIC]
- 0:11Arguably the biggest headline of the weekend in the United States…
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- 0:13[START THE WHITE HOUSE ARCHIVAL CLIP]
- 0:14President Joe Biden: Sorry to keep you waiting, but we've got good news. We've got a… [VOICE FADES OUT]
- 0:15[END THE WHITE HOUSE ARCHIVAL CLIP]
- 0:16President Biden and House Speaker Kevin McCarthy reached an agreement over the weekend to raise the debt ceiling and avoid a potentially disastrous government default. The deal would suspend the debt ceiling cap through the end of 2024 in exchange for new limits on federal spending, meaning Congress wouldn't have to revisit this issue again until after the next presidential election.
- 0:17The president and the speaker getting on the same page about this was a big first step. Next, they'll have to convince lawmakers in their party to get on board. The House is expected to vote on the proposal either today or tomorrow.
- 0:18The agreement would hold non-defense spending roughly flat for 2024 and impose limits for 2025. It would boost military spending next year by about 3% and increase funding for medical care for veterans, including a $20.3 billion fund for vets who were exposed to hazardous environments or toxic substances. Biden held onto his plan to cancel student debt for tens of millions of Americans, but this deal does spell out when monthly student loan repayments will resume at the end of the summer.
- 0:19The terms of the agreement are far from the deal that Democrats initially wanted, but it also leaves out some provisions that Republicans had pushed for to cut future deficits.
- 0:20Biden acknowledged some frustrations among members of both parties on Sunday. But he urged lawmakers to remember the looming deadline for a potential default and to move quickly and pass this legislation.
- 0:21[START THE WHITE HOUSE ARCHIVAL CLIP]
- 0:22President Joe Biden: And the agreement also represents a compromise, which means no one got everything they want. But that's the responsibility of governing.
- 0:23[END THE WHITE HOUSE ARCHIVAL CLIP]
- 0:24One of the more impactful elements of the proposed deal are new work requirements for federal food stamps and family welfare benefits. Republicans had pushed for big changes to these programs as well as Medicaid. Around 40 million people get food stamps currently. And the way things stand now, if you're between 18 and 50 years old, you have no children, no dependents, no disability, you have to show you're working 20 hours a week to get food stamps. This deal proposes raising the age limit to 54 years old. It has some exemptions for veterans and people experiencing homelessness.
- 0:25"TIME" has a helpful explainer that breaks down more of what is being proposed, including rescinding unspent pandemic relief money, expediting the approval process for energy projects, and cutting back on new funding for the IRS.
- 0:26[GENTLE MUSIC]
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- 0:28As we get closer to the 2024 election, we're gonna start looking more closely at the state of local politics in a series that we're calling "The State of the State." Every week, we'll zoom in on a particular state or local issue and examine how it's being debated and discussed among people who live there.
- 0:29Now, on the way, we'll be asking, whose interests are being represented here and why? That means we'll cover the good and the bad, stories about coming together and stories about obstruction. After all, what plays out at the local level ultimately shapes the political playbook at the national level.
- 0:30So, let's dive into our first ever "State of the State," which takes us to Vermont. Lawmakers there recently approved a plan that would invest tens of millions of dollars into the state's childcare system. As is the case in many states, childcare in Vermont is in high demand and it's expensive. The average cost a family in Vermont spends on childcare is around $26,000 a year.
- 0:31So, this childcare funding bill would be a huge deal for families if Republican Governor Phil Scott signs it into law. And it would make Vermont a national leader on the issue, according to "Vox" senior policy reporter Rachel Cohen.
- 0:32Rachel Cohen: Most states right now just don't allocate real significant funding for childcare, so this would change that by instituting a new payroll tax.
- 0:33Employers would cover at least 75% of that tax. The bill introduces new subsidies for families, and it would make childcare free for families of four that make less than $52,000 annually.
- 0:34Cohen: And it would also significantly expand the number of families who… Basically, any child who goes to a childcare program, the state will then reimburse that provider, and that allows the wages of childcare workers to go up a lot. They're thinking at least by a third.
- 0:35Governor Scott has said he will reject any bill that imposes new taxes. But Democrats have a supermajority in the legislature, and they've promised to override a veto.
- 0:36"Vox" describes this bill as being a decade in the making, owing to the strength of a pretty diverse coalition. It started with philanthropists who were interested in programs that help children and families, and it grew to involve lots of volunteers who signed petitions and testified before state lawmakers. They even got childcare workers to share their stories to gain awareness.
- 0:37Cohen: That's been really successful because over the course of the last 10 years, they've really helped build this group of parents and grandparents and business leaders and political legislators and community activists who all sort of are drawn to the issue for different reasons. But that's kind of why it's become such a powerful issue in Vermont.
- 0:38Childcare advocates in Vermont hope that one day, all families in the state will pay no more than 10% of their household income on childcare. And they hope lawmakers and activists across the country look to Vermont as a roadmap for how to improve care for kids and families in their own states.
- 0:39[CHEERFUL MUSIC]
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- 0:41We're gonna get into this last story with the help of a very loud LeBron James.
- 0:42[START TACO BELL ARCHIVAL CLIP]
- 0:43LeBron James: You know what it is! It's Taco [BEEP]!
- 0:44[END TACO BELL ARCHIVAL CLIP]
- 0:45That is from a new Taco Bell ad, and that bleep is by them. It's not by us. It's calling attention to the fact that Taco Bell doesn't own the trademark rights to the phrase "Taco Tuesday." It's in a very messy food fight with the restaurants that do, a chain called Taco John's and a spot in New Jersey called Gregory's.
- 0:46Now, Taco Bell wants to cancel those trademarks so that anyone can use the phrase, and that ad with James is part of their campaign. It's arguing any restaurant making tacos should be allowed to use the phrase "Taco Tuesday" because it's so generic. A trademark attorney told "The Wall Street Journal" that it's likely Taco Bell will win this case.
- 0:47"The Journal" also points out, there are plenty of other examples of times when a trademarked term became generic enough that the trademark got canceled.
- 0:48Escalator, aspirin, yo-yo. These were all once trademarked. If this case goes to trial, a judge might have to decide whether "Taco Tuesday" should get added to that list.
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- 0:50You can find all these stories and more in the Apple News app, as well as coverage of last night's game seven between the Boston Celtics and Miami Heat. The Heat won and will now face the Denver Nuggets in the NBA Finals. And if you're already listening in the News app right now, stick around.
- 0:51We've got a narrated article coming up next from "Sports Illustrated" that sticks with basketball. It's about the boom in parasports and two brothers at the heart of fueling interest in college wheelchair basketball.
- 0:52So sit back, enjoy listening to that, and I'll be back with the news tomorrow.
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