From the desk of Rich Stephens
News for the week ending 5-2-26
Below find the expanded text from tonight’s broadcast. For corrections or additions, contact Rich directly.
Top Story
Trump Misses Son’s Wedding Weekend as Iran Talks Continue
President Trump missed Donald Trump Jr.’s wedding weekend after saying government responsibilities required him to remain at the White House.
In a Truth Social post, Trump wrote that he “very much wanted” to be with Don Jr. and Bettina Anderson, but that “circumstances pertaining to Government” and his “love for the United States of America” did not allow it. He said it was important for him to remain in Washington, D.C., at the White House during “this important period of time.”
The available primary-source record does not name a single government matter as the reason. But the official record from the same window points directly to Iran.
The White House says Operation Epic Fury began March 1 as a military campaign against Iran’s nuclear threat, ballistic missile arsenal, proxy networks, and naval forces. The White House later said Iran agreed to a ceasefire and to reopen the Strait of Hormuz while the Trump administration negotiated a broader peace agreement.
But the issue was not finished.
Two days after Trump said he had to remain at the White House, he posted from the Oval Office that he had spoken with leaders from Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Turkey, Egypt, Jordan, and Bahrain. He said Iran talks were “proceeding nicely,” but added that it would be “a Great Deal” or “no Deal at all” — followed by “Back to the Battlefront and shooting, but bigger and stronger than ever before.”
On May 27, the White House posted video of Trump saying Iran was “negotiating on fumes.”
The story is not just that Trump missed a family event. It is that he publicly said he stayed at the White House during his son’s wedding weekend while Iran talks were still sitting between a broader peace agreement and a possible return to fighting.
Trump Truth Social Post on Remaining at the White House
Trump Truth Social Post on Iran Talks
White House Operation Epic Fury Release
White House Ceasefire and Strait of Hormuz Release
White House Video: Trump on Iran
World
Trump Lays Out Terms for Iran Deal After Cabinet Meeting
On May 29, President Trump laid out the terms he said Iran must accept as the White House moved toward a final decision on a broader agreement.
The post followed a May 27 Cabinet meeting where Trump, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth described Iran talks as active but unresolved. Trump said Iran wanted to make a deal, but the U.S. was not satisfied yet. He said Iran was “negotiating on fumes,” and said the U.S. might have to “go back and finish it.”
Rubio said diplomacy remained the first option, but the bottom line was simple: Iran could never have a nuclear weapon. He said there had been “some progress and some interest,” and that the administration would see over the next hours and days whether more progress could be made.
The main unresolved issues were the same ones Trump later listed publicly. During the Cabinet meeting, Trump said the Strait of Hormuz would be open to everybody, called it international waters, and said nobody would control it. He said the U.S. would watch over it, but that Iran and Oman would not control it.
Trump also rejected the idea of Russia or China taking Iran’s highly enriched uranium, saying he would not be comfortable with that. He said the U.S. was not discussing sanctions relief or money for Iran, and would keep control of frozen money until Iran “behave[s] properly.”
On May 29, Trump put those terms into a public Truth Social post. He said Iran must agree that it will never have a nuclear weapon or bomb, and that the Strait of Hormuz must open immediately with no tolls and unrestricted shipping in both directions. He said remaining water mines must be removed or detonated, and that ships caught in the strait because of the U.S. naval blockade could begin heading home.
Trump said no money would be exchanged until further notice, said other less important items had been agreed to, and said he was going to the Situation Room to make a final determination.
The broader conflict began with Operation Epic Fury. The White House said the operation was launched to destroy Iran’s missile capability, destroy its navy, cut off support for terrorist proxies, and ensure Iran never obtains a nuclear weapon. On April 8, the White House said Iran had agreed to a ceasefire and to reopen the Strait of Hormuz while negotiations continued toward a broader peace agreement.
The current state is not a final signed deal. The official record shows a ceasefire, active negotiations, stated U.S. demands, and a possible decision point. Trump’s latest terms require no Iranian nuclear weapon, immediate unrestricted shipping through Hormuz, removal of remaining mines, no immediate money transfer, and a final White House review before approval.
Trump Truth Social Post on Iran Terms
White House Cabinet Meeting Video
White House Operation Epic Fury Ceasefire Release
White House Operation Epic Fury Objectives Release
Politics
Texas Republican Runoffs Push Out Cornyn, Roy, and a Railroad Commissioner Incumbent
Texas Republicans used Tuesday’s primary runoffs to reject several familiar names and move major statewide races toward a more insurgent Republican slate for November.
The biggest result came in the U.S. Senate race, where Attorney General Ken Paxton defeated incumbent Senator John Cornyn. Unofficial results from the Texas Secretary of State show Paxton with 885,949 votes to Cornyn’s 501,725, giving Paxton about 64 percent of the vote.
In his victory speech, Paxton credited President Trump’s endorsement, calling it “the most powerful force in politics.” He said Texas had sent “a Texas-sized message to Washington,” and framed the result as a rejection of Washington ownership of the seat. He also thanked Cornyn for his service and said Republicans now had to come together for November.
Cornyn conceded after more than four decades in public service and 18 consecutive campaign wins. He said he trusted Texas voters, respected their decision, and would support the Republican ticket in the general election.
The attorney general race produced another major Republican result. State Senator Mayes Middleton defeated Congressman Chip Roy, 755,593 votes to 612,171. Middleton now becomes the Republican nominee to succeed Paxton as Texas attorney general.
Roy conceded on X, saying he had called Middleton to congratulate him on the victory and would have a fuller statement later.
The Railroad Commissioner runoff was much closer, but it produced another incumbent loss. Bo French defeated incumbent Jim Wright by fewer than 15,000 votes statewide, 663,679 to 648,978.
Republican congressional runoffs also filled out several November races. Alex Mealer won District 9, Tom Sell won District 19, Carlos De La Cruz won District 35, and Jon Bonck won District 38.
The broader Texas story is not just one race. Paxton beat a sitting U.S. senator. Middleton beat a sitting congressman. French beat a statewide incumbent. Those results show Republican runoff voters moving away from established officeholders and toward candidates running as more aggressive conservative outsiders.
There was also a major Democratic upset in Houston. Christian Menefee defeated incumbent Al Green in the 18th Congressional District runoff, 33,957 votes to 15,001. That race was not Republican, but it fits the same larger election-night pattern: long-serving officeholders did not survive several key Texas runoffs.
The current state is that Paxton advances to the general election for U.S. Senate, Middleton advances for attorney general, French advances for Railroad Commissioner, and several congressional nominees are now set. The Texas GOP story coming out of the runoff is a party moving hard against its old guard.
Texas Secretary of State Runoff Results
Paxton and Cornyn Runoff Speeches Transcript
Chip Roy Concession Post
Trump Truth Social Endorsement of Ken Paxton
Alabama Redistricting Fight Returns to Supreme Court After Federal Court Blocks 2023 Map Again
Alabama’s congressional redistricting fight is back at the U.S. Supreme Court after a three-judge federal court again blocked the state from using its 2023 congressional map in the 2026 elections.
On May 11, the Supreme Court vacated earlier judgments in Allen v. Caster, Allen v. Singleton, and Allen v. Milligan, and sent the cases back for reconsideration in light of Louisiana v. Callais.
Justice Sotomayor dissented, joined by Justices Kagan and Jackson. She wrote that the district court’s finding of intentional discrimination under the Fourteenth Amendment was separate from the Voting Rights Act issue and was not affected by Callais.
On May 26, the district court again blocked Alabama from using the 2023 plan. The court said it could either allow Alabama to use a legislative map it had found, after trial, intentionally discriminated against Black voters, or require the state to use the race-blind special master map that had already been used for the 2024 elections and the May 19, 2026 primaries.
The court chose the special master map. It wrote that it could not require Alabamians to vote in 2026 under a districting plan “tainted by intentional race-based discrimination.” The court said its review under Callais reached the same conclusion it had reached before: Alabama’s 2023 plan intentionally discriminated based on race.
The order also affects the current election calendar. The district court said the May 19 primaries for Districts 1, 2, 6, and 7 became ineffective on May 12, when Governor Kay Ivey set special primaries for those districts for August 11. The court ordered the Secretary of State to administer the remaining 2026 congressional election events under the Special Master Plan.
Alabama immediately went back to the Supreme Court. On May 27, Attorney General Steve Marshall filed emergency stay applications in the three cases, challenging the May 26 injunction and asking the Court to act before June 1. Marshall said the district court’s order blocks Alabama from using its 2023 congressional plan and “once again replaced Alabama’s map with one that sorts voters based on race.” He said he believes Alabama should have a 7-0 Republican congressional delegation that reflects Alabama voters and complies with Callais.
The United States is supporting Alabama’s request. In an amicus brief, the Solicitor General argued that the district court reinstated its injunction despite Callais and said the federal government has an interest in protecting citizens from court-ordered racial gerrymanders and preventing federal courts from interfering with state control over congressional districts.
The current state is unsettled. The Supreme Court docket shows Alabama’s stay application was submitted to Justice Thomas on May 27, and Justice Thomas requested a response by 4 p.m. Eastern on June 1. Unless the Supreme Court intervenes, the district court’s May 26 order keeps Alabama on the Special Master Plan for the remaining 2026 congressional election events.
Supreme Court May 11 Order in Allen v. Caster / Singleton / Milligan
District Court May 26 Order Appendix
Alabama Attorney General May 27 Stay Application Release
Supreme Court Docket 25A1314
United States Amicus Brief Supporting Alabama Stay
AFT President Proposes Screen Limits, AI Guardrails, and Tech Tax for Schools
On Wednesday, May 27, American Federation of Teachers President Randi Weingarten proposed a 10-point education plan focused on limiting screens, restricting student-facing AI, expanding hands-on learning, and taxing Big Tech to address the effects of technology and artificial intelligence.
Weingarten delivered the speech at the National Press Club in Washington under the title “Devices down, eyes up, hands-on: 10 points to boost teaching and learning in the AI era.” She said artificial intelligence, addictive technology, social media, and economic disruption are reshaping students’ lives and that schools need a national response.
The plan starts with younger students. Weingarten called for no screens, including online assessments, for students in pre-K through second grade, unless there is a compelling reason, such as supporting a student with special needs. She also called for no student-facing AI in elementary schools, educator supervision for other student-facing AI, and a ban until at least age 16 on social companion chatbots that simulate human relationships.
Weingarten said the goal is not to ban all technology. In the speech, she said she was not calling for “an AI ban or a Chromebook bonfire,” but for a better balance that uses technology while limiting harm. She said educators need enforceable guardrails and a direct voice in how AI is used in schools.
The plan also calls for schools to redesign learning around active, hands-on work. Weingarten said project-based, experiential, and career-connected learning should become the norm across grade levels. She paired that with a call for students to have a strong foundation in literacy, numeracy, and civic engagement.
The speech also tied technology policy to student well-being. Weingarten called for schools to focus on students’ basic needs, safe and welcoming classrooms, mental health, and community-school models that connect families to services.
Several parts of the plan focus on who controls education technology. Weingarten called for protections for intellectual property and academic freedom, support for educators to make classroom-based decisions about technology, and a new safety and privacy standard for AI in schools. She said providers that cannot meet those requirements should not be eligible to serve K-12 education.
She also proposed an independent research consortium to study effective education practices, including the effects of AI, screens, and technology on students. She said that research should not be paid for by the industries whose products are being studied.
The final two points turn the speech toward money and politics. Weingarten called for adequate state and federal funding for public education and said AI and vouchers should not further defund public schools. She also called for a tech tax on Big Tech earnings and some business operations to make technology companies pay for what she described as the adverse and disruptive consequences of AI and technology on families, workers, communities, and the environment.
The proposal is not law. It is a union-backed education platform aimed at shaping how schools respond to AI, screens, vouchers, student well-being, and classroom technology. The clearest immediate policy pieces are the proposed screen ban for pre-K through second grade, the ban on student-facing AI in elementary schools, the ban on social companion chatbots for students under 16, and the proposed tech tax on Big Tech.
Full Speech Video
AFT Full Speech Text
AFT Press Release
DeSantis Calls Special Session for Florida Property Tax Reform Plan
On Wednesday, May 27, Governor Ron DeSantis announced a special session for the week of June 1 to consider a constitutional amendment aimed at reducing, and eventually eliminating, property taxes on Florida homesteads.
The proposal is called “Save Our Homes from Excessive Property Taxes.” DeSantis said the plan would eliminate taxes on homesteads and said property tax revenue collected by local governments has nearly doubled over seven years, from $32 billion to $60 billion, with projections reaching $83 billion by 2032.
The filed Senate resolution, SJR 2-F, proposes amendments to Florida’s constitution covering homestead exemptions, assessment limits, county and municipal tax revenue, and a new trust fund. The ballot language says the plan would exempt the first $250,000 of a homestead’s value from taxation and require, through general law, a schedule for full elimination.
The actual phase-in starts earlier. The filed text would exempt up to $150,000 of homestead assessed value beginning January 1, 2027, and up to $250,000 beginning January 1, 2028. People who establish Florida residency after January 1, 2027, would start with a $50,000 exemption and would have to maintain Florida residency for five years before receiving the increased homestead exemption.
The proposal also limits what counties and municipalities can do with remaining ad valorem tax revenue. The filed text says those taxes could only be used for public safety, education and public schools, infrastructure, natural resource projects, certain local bonds and debt service, and retirement obligations for local government employees.
The plan also reaches beyond homesteads. For non-school levies on residential real property with nine units or fewer, annual assessment increases would drop from 10 percent to 5 percent beginning January 1, 2027. The ballot summary also says the amendment would limit future property tax assessments on businesses.
To offset local impacts, the amendment would create a state trust fund to assist local governments with core services, including education, law enforcement, and infrastructure.
The current state is that the proposal has not passed. The Senate says lawmakers will take up the measure next week, and DeSantis’ stated goal is to place the amendment on the ballot this fall. If it reaches the ballot, Florida constitutional amendments require at least 60 percent voter approval to pass.
Governor DeSantis X Post on Property Tax Plan
Governor DeSantis Property Tax Special Session Release
Florida Senate SJR 2-F Bill Page
Florida Senate SJR 2-F Filed Text
Florida Senate Tax Relief Release
Florida Division of Elections Constitutional Amendment Rules
Current Events
Garden Grove Chemical Tank Emergency Ends After Evacuations, State and Federal Declarations
A hazardous materials emergency in Garden Grove, California, forced evacuations across parts of Orange County after officials warned of the expected failure of chemical tanks at 12122 Western Avenue.
Garden Grove’s city staff report says the local emergency began Friday, May 22, when the city manager, acting as director of emergency services, issued a local emergency proclamation at 9:30 a.m. The report says one of three chemical tanks with approximately 34,000 gallons of methyl methacrylate showed evidence of failure, including vapor releases and the possibility of an explosion, major damage to surrounding properties, and local air contamination at levels hazardous to humans and animals.
Methyl methacrylate, or MMA, was the chemical involved. Cal OES describes MMA as a highly flammable and potentially toxic chemical used in plastics, coatings, and manufacturing. Cal OES says mandatory evacuation orders were issued because of the potential release of MMA.
The initial evacuation order covered the area bounded by Garden Grove Boulevard to the south, Springdale Street to the west, Orangewood Avenue to the north, and Dale Street to the east. Garden Grove’s staff report says the evacuation affected Stanton in addition to Garden Grove. The area was later expanded to Valley View Street, Trask Avenue, and Ball Road, affecting Anaheim, Buena Park, Cypress, Seal Beach, Westminster, Garden Grove, and Stanton, with approximately 40,000 residents in the expanded area.
On Saturday, May 23, Governor Gavin Newsom proclaimed a state of emergency for Orange County. His office said the proclamation directed Cal OES and state agencies to support Orange County and impacted local jurisdictions, and made state-owned properties and fairgrounds available for sheltering evacuees if needed.
By Sunday, May 24, Newsom’s office said California had mobilized more than 785 state and local emergency personnel, including firefighters, law enforcement, hazardous-materials experts, public health officials, transportation crews, environmental scientists, and emergency coordinators. The governor’s office said state operations included support for public safety, evacuations, traffic management, sheltering, environmental monitoring, and community assistance.
On Monday, May 25, Newsom’s office said President Trump approved California’s request for a Presidential Emergency Declaration. The governor’s office said the declaration allowed FEMA to provide direct federal assistance, including personnel, equipment, and specialized resources for life-saving response.
That same day, OCFA said the threat of a BLEVE — a Boiling Liquid Expanding Vapor Explosion — had been eliminated, but that evacuation orders remained in place while officials re-evaluated the zones. OCFA also said there was still an ongoing public-safety threat and that continuous atmospheric monitoring had verified no chemical leak.
Garden Grove later reduced the evacuation zone to the area between Orangewood, Dale, Garden Grove Boulevard, and Knott. The city also held a special City Council meeting on Tuesday, May 26, focused on the incident, the city’s response, and the latest information available.
By May 27 and May 28, the written official status had changed. Cal OES said all evacuation orders had been lifted, residents could return, and emergency shelters closed Wednesday, May 27. OCFA said there was no chemical leak, no threat of explosion, no threat of fire, and no risk to the public. OCFA also said a remaining exclusion zone would allow hazardous materials teams to continue monitoring the tanks, with no residents affected. The Orange County Sheriff’s Department said all care and shelter locations had closed and all road closures had been lifted.
Garden Grove is now moving into recovery. The city says it is collecting information from residents, businesses, and community members affected by the chemical emergency and evacuation orders. The city also says homes and businesses inside the evacuation zone should receive letters verifying impacted locations for insurance claims, reimbursement requests, and related recovery efforts. Garden Grove is also seeking SBA Economic Injury Disaster Loan assistance for impacted businesses.
Garden Grove Staff Report
California State Emergency Proclamation Release
Presidential Emergency Declaration Approval
Cal OES Community Resources
OCFA Incident Updates
Garden Grove Hazmat Incident Page
Orange County Sheriff Disaster Resources
Garden Grove Recovery Feedback Release
Garden Grove SBA Assistance Release
Matthew Perry’s Former Assistant Sentenced in Federal Ketamine Case
On Wednesday, May 27, Kenneth Iwamasa was sentenced to 41 months in federal prison for his role in the death of actor Matthew Perry.
Federal prosecutors say the live-in assistant obtained and repeatedly injected Perry with ketamine, including the fatal dose in October 2023.
He pleaded guilty to conspiracy to distribute ketamine resulting in death.
Iwamasa had no medical training, was aware of Perry’s addiction history, and still gave the injections.
New York Authorizes Speed Limiters for Repeat Speed-Camera Offenders
On Wednesday, May 27, Governor Kathy Hochul signed budget legislation authorizing New York City to put speed-limiting devices in vehicles tied to repeat speed-camera violations.
The program targets owners who receive final decisions on 16 speed-camera tickets in 12 months.
The device is called Intelligent Speed Assistance. Under the law, it restricts a vehicle’s speed based on the posted speed limit, while still allowing a manual override when necessary for traffic conditions.
The order can apply to the vehicle tied to the tickets and, with exceptions, other vehicles owned by the same person.
The first installation period is 12 months, but repeat orders can stretch to 24 months, 36 months, or until the city approves removal.
Drivers who fail to install the device or tamper with it can face fines from $1,500 to $2,500 and registration suspension.
Vehicle owners generally pay for installation and maintenance, though the law allows payment plans and waives the cost for owners found financially unable to pay.
New York City already uses this technology in municipal vehicles, and city officials say a pilot program reduced speeding by 65 percent.
The signed law now gives New York City a path to move speed-limiters from government fleets to private vehicles owned by repeat speed-camera offenders.
Governor Hochul FY27 Public Safety Budget Release
NY State Budget Bill A10008C
NYC DCAS Intelligent Speed Assistance Program
NYC DCAS / U.S. DOT Volpe ISA Evaluation Release
Trump Says TrumpRx Added Low-Cost Generics as White House Expands Drug-Pricing Push
At Wednesday’s Cabinet meeting, President Trump said his administration is expanding its prescription-drug pricing push through Most Favored Nation agreements and TrumpRx.gov.
Trump said the administration is delivering “record setting discounts on prescription drugs” and said TrumpRx.gov had recently added nearly 1,000 low-cost generics. He described the program as an effort to end the gap between what Americans pay for prescription drugs and what patients pay in other developed countries.
The White House’s May 18 fact sheet says TrumpRx.gov was expanded to feature more than 600 generic medications. The site is designed to let patients compare cash prices for common medications without insurance middlemen, including prices at local pharmacies and delivery options through private pharmacy programs. The White House says discounts from Amazon Pharmacy, Cost Plus Drugs, and GoodRx will be integrated into TrumpRx.gov.
The generic-drug listings are separate from the administration’s Most Favored Nation agreements for high-cost branded drugs. The White House says the site includes common medications such as atorvastatin for cholesterol, clopidogrel as a blood thinner, lisinopril for high blood pressure, and metformin for diabetes. The site does not include controlled substances, drugs with FDA-mandated risk evaluation and mitigation strategies, or drugs not commonly offered through direct-to-consumer channels.
TrumpRx was first launched in February with price reductions on 40 popular and expensive branded medicines. The White House listed examples including Ozempic and injectable Wegovy falling to an average price of $350 and as low as $199 depending on dosage, Zepbound falling to an average of $346 and as low as $299, and Insulin Lispro being available for as low as $25 per month.
HHS says the direct-to-consumer model is supported by guidance from the Office of Inspector General. That guidance says manufacturers can offer lower-cost drugs directly to patients, including Medicare and Medicaid enrollees, when safeguards are met. Those safeguards include that the drug is not billed to Medicare, Medicaid, or other federal programs, is not used to market other federally reimbursable products, and is not tied to future purchases or referrals.
The broader policy comes from Trump’s May 2025 executive order on Most Favored Nation prescription drug pricing. The order says Americans should have access to the lowest price offered in other developed nations and should not subsidize cheaper prices abroad.
The White House says the voluntary MFN framework would also apply to state Medicaid programs. A White House research page estimates that making existing drugs available to state Medicaid programs at MFN prices would generate $64.3 billion in federal and state savings over 10 years. It also says direct-to-consumer TrumpRx discounts are expected to create major patient savings for GLP-1 weight-loss drugs and fertility medications.
The administration has also tied the drug-pricing push to pharmaceutical tariffs and domestic production. An April proclamation says patented pharmaceuticals and ingredients generally face a 100 percent tariff, but companies with MFN pricing and onshoring agreements can receive zero tariff treatment until January 20, 2029. Generic pharmaceuticals and biosimilars are not subject to those tariffs at this time.
The current state is that TrumpRx.gov has expanded from high-cost branded drugs into common generics, while the administration continues using Most Favored Nation agreements, direct-to-consumer sales, Medicaid pricing, and tariff pressure to push U.S. prescription prices closer to prices paid in other developed countries.
White House Cabinet Meeting Video
White House TrumpRx Generics Expansion Fact Sheet
White House TrumpRx Launch Fact Sheet
HHS Direct-to-Consumer Drug Sales Guidance Release
Most Favored Nation Drug Pricing Executive Order
White House MFN Savings Research Page
Pharmaceutical Import Tariff Proclamation
Blue Origin’s New Glenn Rocket Explodes During Cape Canaveral Test
On Thursday, May 28, Blue Origin’s New Glenn rocket exploded during a hot-fire test at Cape Canaveral.
The company said all personnel were accounted for following what it categorized as an anomaly. Emergency crews responded and reported no injuries, but officials warned that launch-vehicle debris could wash ashore in public areas over the coming days or weeks.
New Glenn is Blue Origin’s heavy-lift reusable rocket, standing more than 320 feet tall and built to carry 45 metric tons to low Earth orbit.
The explosion threatens plans for major commercial and government missions, including a planned launch of 48 Amazon Leo satellites and NASA’s Blue Moon lunar lander.
Video of the explosion shows the vehicle destroyed and the launch structure left standing but badly damaged.
Blue Origin Statement on Hot-Fire Anomaly
Space Launch Delta 45 Public Advisory
Space Launch Delta 45 Eastern Range Update
NASA Administrator Statement
Blue Origin New Glenn Vehicle Page
Blue Origin Amazon Leo Launch Alert
NASA Blue Moon / New Glenn Artemis Page
Finance
Bessent Says Treasury Prepared for Trump $250 Bill, Launches Trump Accounts App
On Thursday, May 28, Treasury Secretary Scott Bessent said Treasury has prepared for a possible $250 bill featuring President Trump if Congress changes federal law.
Bessent said current law bars living people from appearing on U.S. currency, but proposed legislation would allow Trump to appear on a $250 anniversary bill. He said Treasury has prepared in advance, but would follow the law if Congress acts.
Bessent also announced that the Trump Accounts app is now available on major platforms ahead of the program’s July 4 launch.
Nearly 6 million children have been signed up, and Bessent said children born during Trump’s administration will receive a $1,000 seed investment from Treasury.
He described the program as a financial-literacy push meant to create “a generation of shareholders.”
Bessent also said TrumpRx has already saved Americans more than $600 million, tying the briefing back to the administration’s broader push on prescription-drug prices.
Treasury Secretary Scott Bessent White House Briefing
Treasury Trump Accounts App Release
Markets
Markets rose across the board this week. The Dow Jones picked up 453 points and closed at 51,032.
NASDAQ jumped 2.4%, closing at 26,972 after a gain of 629 points.
The S&P 500 added 107 points, closing at 7580.
And Gold regained some of the last couple of week’s losses. Futures trading closed up $70 at $4593 per ounce.
Sports
Bears Say Chicago Stadium Options Are Exhausted
The Chicago Bears say they have exhausted every opportunity to stay inside Chicago and are now considering stadium sites in Arlington Heights, Illinois, and Hammond, Indiana.
The team’s official stadium site says Soldier Field no longer has the infrastructure, accessibility, or amenities needed for a modern NFL stadium, and that the Bears have evaluated Chicago sites, including the Museum Campus, without finding a financially workable plan.
Arlington Heights is still in Illinois. If the Bears move there, they would leave Chicago but remain in-state. The Bears already own the 326-acre Arlington Heights property and say they plan a fixed-roof stadium and mixed-use district at the site.
The team says it has committed more than $2 billion toward the project. It also says the Arlington Heights development would create 56,500 construction job years and 9,000 permanent jobs.
The Bears have not announced a final stadium site or a date to leave Soldier Field. Their own stadium FAQ says no plans have been made to play home games outside Soldier Field at this time.
The current state is that the Bears are no longer presenting Chicago as a viable stadium option, while Arlington Heights and Hammond remain the two sites publicly tied to the team’s next stadium decision.
Chicago Bears Stadium Site
NFL Report on Bears Statement
Formula 1
Sunday, May 24, Formula 1 was in Canada, and for the first time this year, it had some interesting moments. Kimi Antonelli won the race, becoming the first F1 driver who’s first 4 wins came consecutively. Lewis Hamilton passed Verstappen late after a battle both drivers seemed to enjoy. Hamilton finished second with Max getting his first podium of the year, bringing the car home in third. Russel didn’t finish the race and now sits 43 points behind his teammate for the driver’s championship. The next race is Monaco on June 7.
NHL
In the NHL, the Las Vegas Golden Knights swept the Colorado Avalanche in 4 games to advance to the Stanley Cup Finals. In the East, the Hurricanes needed 5 games to defeat the Canadiens. Game 1 of the Stanley Cup Finals is June 2 at 8 pm eastern.
NBA
In the NBA, the Knicks swept the Cavs in the Eastern Conference Championship, but in the West, the Spurs needed all 7 games to get past the Oklahoma City Thunder. Game 1 of the NBA finals is June 3 at 8:30 pm eastern.
MLB
Finally, in the MLB, the New York Yankees have reeled the Rays back in and sit just 1 and a half games back from the lead in the AL East. Atlanta still has a 9.5 game lead over the Phillies in the NL East. The Dodgers are now 4.5 games up on the Padres in the NL West. In the NL Central, the Brewers have a 4 game lead over the cubs. Jacob Misiourowski is setting records every time he takes the mound for the Brewers. In Monday’s 5-1 win over the Cardinals, he recorded 57 pitches over 100 miles per hour. That’s the most by any starter since statcast began tracking in 2008. 9 of those topped 103 and he struck out 12 and leads the majors with 100 strikeouts in the first 55 games of the season.
Rich Stephens
The Cold Take