Senate Slams Student Loan Forgiveness

Senate Republicans, joined by a handful of Democrats, voted to kill President Biden’s $400 billion student loan handout—a vote Biden promised to veto. It will be his fifth veto since taking office.

There aren’t enough votes to override the veto, but legal experts say it won’t matter in the long run. The student loan plan is specifically killed in the debt-ceiling relief bill just passed by the House.

Also, the Supreme Court is still weighing two challenges to the forgiveness program, and a decision on those cases should come out this month.

Elon Musk Is the Richest Man on Earth, Again

Elon Musk has regained his title as the world’s richest man with a net worth of $192 billion, according to the latest Bloomberg ranking of billionaires.

Musk lost ground with his $44 billion purchase of Twitter, which has reportedly lost two-thirds of its value. But most of his wealth is in Tesla stock, and those shares are up 65% year to date.

The second richest person in the ranking is LVMH CEO Bernard Arnault, at $187 billion, followed by Jeff Bezos, CEO of Amazon, at $144 billion.

Hall-of-Famer Mulls Senate Bid

L.A. Dodger baseball legend Steve Garvey says he’s considering running for the U.S. Senate in California as a Republican. Garvey is already meeting with voters, fundraisers, and senior GOP officials as he weighs a decision.

If he runs, his “Mr. Clean” superstar status could energize the GOP in a state dominated by Democrats. It’s been 35 years since a Republican won a U.S. Senate race in California.

Garvey, 74, had a Hall-of-Fame 18-year career in baseball and was voted National League MVP in 1974. He would be running for the seat now held by retiring Senator Diane Feinstein.

➤ The Pentagon canceled a drag show scheduled for this month at Nellis Air Force Base in Nevada. The show has taken place in June for the last two years, but the Defense Department now says no government funds can be used for drag shows on military bases. (More)

➤ ABC News suspended its on-air relationship with Chris Christie now that the former N.J. governor has announced plans to run for President. Christie joined ABC News as a contributor in 2018 but has been absent from their air for the past two weeks. (More)

➤ Republican Rep. Chris Stewart has announced he’ll resign from the House as soon as possible, shrinking the already-slim GOP majority down to just four votes. The Utah congressman is expected to be replaced by another Republican, but not for months. (More)

➤ Oregon Republicans have begun their fifth straight week of boycotting state Senate sessions to block the Democrat majority from passing abortion and transgender bills. GOP leaders say they intend to stay out until the session ends or the bills are killed. (More)

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➤ NBA Coach Monty Williams has signed the largest coaching deal in NBA history by joining the Detroit Pistons with a 6-year, $78 million contract. Fired by the Phoenix Suns in May, Williams could make $100 million over eight years if the Pistons extend the deal. (More)

➤ NASCAR hit Stewart-Hass Racing with a $250,000 penalty for using a counterfeit part in the car used by driver Chase Briscoe. Briscoe and the team were also docked 120 regular-season points and 25 playoff points. (More)

➤ LSU football players will sport new air-conditioned helmets, a technological breakthrough for players competing in the hot, humid SEC conference. The players showed off the new helmets in a TikTok video. (Watch here)

Market Report   6/1/23

➤ Big Stock Move: Dollar General, the discount chain, had its worst day since going public, with shares tumbling nearly 20 percent. The chain cut its sales and profit forecasts for the year, saying the troubled economy was holding back customers from spending. (More)

➤ Facebook is threatening to pull all news from its platform in California if the state passes a proposed bill taxing the platform for news content. The bill seeks to compensate media companies for using their content, but Facebook says it will cut news out altogether instead. (More)

➤ Space X, the rocket company started by Elon Musk, has won a Pentagon contract to supply its satellite communications services to Ukraine. Until now, Musk has supplied Starlink units to Ukraine for free, at a cost of as much as $20 million a month. (More)

➤ NASA held its first televised public meeting to discuss UFOs and said there was still no convincing evidence of any alien encounters. The NASA panel said a small percentage of sightings remain unexplained but blamed optical illusions for most of those. (More)

➤ Scientists have taken the first X-ray of a single atom, allowing them to identify the material the atom is embedded in — the first time this was possible. Previously, scientists could see no closer than groups of 10,000 atoms at a time. (More)

➤ A new app will allow aspiring iPhone filmmakers to simulate sophisticated movie-style crane and dolly shots with the press of a button. The new Roll iOs app uses AI to add effects to iPhone video without having to move the camera. (More)

➤ Johns Hopkins has been named the nation’s Most Trusted University, according to a new ranking from Morning Consult. The list ranks the top 10 most trusted schools, which include Duke, Yale, Harvard, and Baylor Universities. (See full list here)

➤ Joe Biden took another big fall in public Thursday, this time on stage at the US Air Force Academy graduation. The White House said later the President was “fine” despite tripping over a sandbag. (Video)

➤ Mary Trump, Donald Trump’s niece, has co-written a steamy romance novel with E Jean Carroll, who recently won a $5 million verdict against Trump for defamation. The authors say the book contains some erotic sex scenes but no politics. (More)

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Today’s Trivia

Steve Garvey was responsible for one of the San Diego Padres’ most iconic moments. What was it?