12PM ET 07/01/2025 Newscast

Summary

Fox News Hourly Update: Comprehensive Summary Episode: 12PM ET 07/01/2025 Newscast | Release Date: July 1, 2025 | Host: Fox News Radio

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1. Passage of President Trump’s "One Big Beautiful Bill Act"

Overview: The U.S. Senate is on the verge of passing President Donald Trump's significant legislative package, referred to as the "one big beautiful bill act." After extensive debates and numerous amendments, Senate Republicans are optimistic about securing the necessary votes for approval.

Key Points:

• Senate Majority: Republicans believe they have secured the 50 votes required for passage. With Senator Lisa Murkowski's support, this brings the total to 51 votes, with Vice President JD Vance poised to act as the tiebreaker if needed.

  • "They do believe they have the 50 votes necessary to pass this. With Senator Lisa Murkowski, that means that they will have 51. With Vice President JD Vance as the tiebreaker." – Aisha Hosny [00:15]

• Amendments and Challenges: The bill has undergone a protracted 25-hour voting session, facing obstacles such as the Senate parliamentarian's decision to exclude language intended to prevent Medicaid cuts in Alaska.

  • "This has been a long, grueling process, a historic 25 hour long voter rama. Things went awry overnight when the Senate parliamentarian basically threw out language to give Alaska a break on those Medicaid cuts." – Aisha Hosny [00:32]

• Republican Concerns: Two Republican senators have expressed reservations regarding the bill's spending levels and potential cuts, which Democrats argue could jeopardize healthcare and food assistance programs.

• Tax Provisions: The legislation includes the extension of the 2017 Trump tax cuts. President Trump warns that failure to pass the bill would result in a "record tax increase."

  • "President Trump says not passing it would be a record tax increase." – Lisa Brady [00:46]

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2. Tensions Between President Trump and Elon Musk

Overview: A notable conflict has emerged between President Trump and billionaire entrepreneur Elon Musk over the proposed bill's impact on Musk's businesses, particularly those related to electric vehicles (EVs).

Key Points:

• Threats and Repercussions: President Trump has threatened to impose cuts on companies owned by Musk if the bill does not pass. In retaliation, Musk has vowed to support efforts to unseat lawmakers backing the tax and spending plan.

  • "He's upset that he's losing his EV mandate and he's very upset about things. But you know, he could lose a lot more than that, I should tell you." – Trey Gowdy [01:22]
  • "Right now, Musk is vowing to help unseat lawmakers who support the tax and spending plan." – Jared Halpern [01:31]

• Government Subsidies: Trump claims that Musk's companies benefit significantly from government subsidies.

  • "President Trump says Musk companies receive a lot of government subsidies." – Jared Halpern [01:17]

• Public Discourse: The exchange highlights the growing friction between political leaders and influential business figures, particularly concerning regulatory and financial policies.

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3. White House Updates and Jimmy Swaggart’s Passing

Overview: President Trump recently toured the new migrant detention center in the Florida Everglades, while news broke about the death of televangelist Jimmy Swaggart.

Key Points:

• Migrant Detention Center: The president nicknamed the facility "Alligator Alcatraz" during his visit, emphasizing the stringent measures being implemented.

  • "He's calling Alligator Alcatraz." – Lisa Brady [01:36]

• Jimmy Swaggart’s Death: The Fox News team reported the passing of Jimmy Swaggart at the age of 90. Swaggart, a prominent televangelist, had his ministry tarnished by prostitution scandals.

  • "Just getting word that Jimmy Swaggart has died. The televangelist whose ministry was hit by prostitution scandals. He was 90." – Lisa Brady [01:36]

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4. Florida's Migrant Detention Policies and Key West's Resistance

Overview: Florida is intensifying its efforts to manage migrant detention, leading to friction with the city of Key West, which has decided to end its police coordination with U.S. Immigration and Customs Enforcement (ICE).

Key Points:

• State Response: Florida Attorney General James Uthmeyer announced potential consequences for Key West following the city's vote to discontinue its cooperation with ICE.

  • "We should not have fear or political retribution as the basis for us as a city determining policy." – Jared Halpern [02:53]

• Local Opposition: During a public meeting, Key West residents expressed strong opposition to collaborating with ICE agents, citing safety concerns and political disagreements.

  • "Some employees are scared to come to work with ice operating on the island." – Emma Falig

• City Commissioner’s Statement: Samuel Kaufman of Key West argued that the original agreement with ICE was improperly imposed on the city.

  • "The original agreement shouldn't have been forced upon them." – Samuel Kaufman

• State's Stance: The state emphasizes the importance of unified policy implementation across all cities to effectively manage migrant detention and immigration enforcement.

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5. Meteorological Update: Hurricane Flossie

Overview: Hurricane Flossie has reached Category 4 status off the Pacific coast of Mexico but is expected to move away from southwestern Mexico by the evening.

Key Points:

• Current Status: Flossie is currently centered approximately 150 miles offshore, bringing heavy rains to parts of the coast.

  • "Hurricane Flossie now a category off the Pacific coast of Mexico, though it is still expected to move away from southwestern Mexico by tonight." – Lisa Brady [03:02]

• Impact Forecast: Residents in the affected regions are advised to stay informed and prepared for potential weather-related challenges as the hurricane progresses.

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6. NBA Milestone: Shai Gilgeous-Alexander’s Record Contract

Overview: Shai Gilgeous-Alexander, the NBA's reigning MVP and point guard for the Oklahoma City Thunder, has secured the richest annual contract in NBA history with a four-year extension worth $285 million.

Key Points:

• Contract Details: The extension averages $71.25 million per season, setting a new NBA record for annual earnings.

  • "He has agreed to sign a four year extension worth $285 million, 71 and a quarter million dollars per season, an NBA record." – Trey Gowdy [03:20]

• Outstanding Performance: Gilgeous-Alexander was named MVP for both the regular season and the NBA Finals, showcasing exceptional scoring prowess.

  • "He scored an NBA Best 32.7 points per game this past season and 30.3 points a game in the Finals." – Trey Gowdy [03:20]

• Historical Significance: At 26 years old, he joins an elite group of players—Kareem Abdul-Jabbar, Michael Jordan, and Shaquille O’Neal—who have won both the scoring title and MVP awards in the same season. He is also the first player in 25 years to secure a championship after winning the regular season scoring title.

  • "Shai Gilgeous Alexander became the first player since Shaquille O' Neal 25 years ago to win the championship after he won the regular season scoring title." – Trey Gowdy [03:20]

• Legacy: This achievement cements Gilgeous-Alexander’s status as one of the NBA’s premier talents and highlights his significant contribution to the Oklahoma City Thunder’s success.

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7. Stock Market Update

Overview: The stock market exhibited mixed performance, with the Dow Jones Industrial Average experiencing a notable rally.

Key Points:

• Dow Jones Surge: The Dow climbed by 433 points, indicating investor optimism amidst ongoing political and economic developments.

  • "FOX News Stocks are mixed, but a rally for the Dow up 433 points." – Lisa Brady [04:04]

• Market Sentiment: The rally reflects confidence in the legislative developments and potential economic stability, though other indices showed varied movements.

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Conclusion

The July 1, 2025, episode of Fox News Hourly Update provided a comprehensive overview of significant political maneuvers in the Senate, highlighting President Trump's legislative efforts and the ensuing tensions with Elon Musk. Additionally, it covered critical updates from the White House, including migrant detention policies in Florida and the passing of televangelist Jimmy Swaggart. Meteorological concerns were addressed with Hurricane Flossie's status, while the sports segment celebrated Shai Gilgeous-Alexander's historic NBA contract and achievements. The episode concluded with a positive note on the stock market's performance, encapsulating a broad spectrum of current events impacting the nation.

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This summary is based on the Fox News Hourly Update podcast transcript released on July 1, 2025.

Transcript

[Lisa Brady]

The end is near in the US Senate, Lisa Brady, FOX News. With the final votes getting underway on President Trump's one big beautiful bill act. After a marathon string of amendments and debate, Senate Republicans think they have the votes.

[Aisha Hosny]

They do believe they have the 50 votes necessary to pass this. With Senator Lisa Murkowski, that means that they will have 51. With Vice President JD Vance as the tiebreaker.

[Lisa Brady]

Fox is Aisha Hosny on Capitol Hill. Murkowski winning more funding for rural hospitals.

[Aisha Hosny]

This has been a long, grueling process, a historic 25 hour long voter rama. Things went awry overnight when the Senate parliamentarian basically threw out language to give Alaska a break on those Medicaid cuts.

[Lisa Brady]

At least two Republicans taking issue with the bill's spending levels. Another with cuts that Democrats argue will strip health care and food assistance. The bill's tax breaks include an extension of the 2017 Trump tax cuts. President Trump says not passing it would be a record tax increase. He's also threatening cuts for some companies owned by Elon Musk, who's warning Republicans to vote against it.

[Jared Halpern]

President Trump says Musk is just upset about losing electric vehicle benefits.

[Trey Gowdy]

Doji is the monster that might have to go back and eat Elon.

[Jared Halpern]

President Trump says Musk companies receive a lot of government subsidies.

[Trey Gowdy]

He's upset that he's losing his EV mandate and he's very upset about things. But you know, he could lose a lot more than that, I should tell you.

[Jared Halpern]

Right now, Musk is vowing to help unseat lawmakers who support the tax and spending plan.

[Lisa Brady]

Fox's Jared Halpern at the White House. The president's now in the Florida Everglades, just touring the new migrant detention center. He's calling Alligator Alcatraz. Just getting word that Jimmy Swaggart has died. The televangelist whose ministry was hit by prostitution scandals. He was 90. America is listening to FOX News.

[Trey Gowdy]

Hey, I'm Trey Gowdy, host of the Trump I hope you will join me every Tuesday and Thursday as we navigate life together and hopefully find ourselves a little bit better on the other side.

Listen and follow [e-mail].

[Lisa Brady]

As Florida opens that new migrant detention center. State officials are also threatening consequences for one city over a vote not to cooperate with federal agents.

[Eben Brown]

Florida Attorney General James Uthmeyer says he will be in contact with officials in Key west now that the city votes to end its police coordination agreement with U.S. immigration and Customs Enforcement. The decision comes at a public meeting where Key west residents voiced opposition to working with ICE agents. Some employees are scared to come to work with ice operating on the island. Emma Falig works at a restaurant. City Commissioner Samuel Kaufman argues the original agreement shouldn't have been forced upon them.

[Jared Halpern]

We should not have fear or political retribution as the basis for us as a city determining policy.

[Eben Brown]

In Miami, Eben Brown, Fox News.

[Lisa Brady]

Hurricane Flossie now a category off the pacific coast of Mexico, though it is still expected to move away from southwestern Mexico by tonight. For now, centered about 150 miles offshore as rain falls on parts of the coast, the NBA's reigning MVP gets a lucrative contract extension.

[Trey Gowdy]

It's the richest annual contract for any player in NBA history. Shai Gilgeous Alexander, point guard for the NBA champion Oklahoma City Thunder, has agreed to sign a four year extension worth $285 million, 71 and a quarter million dollars per season, an NBA record. Gilgis Alexander was the most valuable player in the regular season and in the NBA Finals. He scored an NBA Best 32.7 points per game this past season and 30.3 points a game in the Finals, 26 years old. Shay Gilder's Alexander became the first player since Shaquille O' Neal 25 years ago to win the championship after he won the regular season scoring title. He's the fourth player ever to win the scoring title and both MVP awards the same season. The others Kareem Abdul Jabbar, Michael Jordan and Shaq. Jared.

[Lisa Brady]

Max, FOX News Stocks are mixed, but a rally for the Dow up 433 points. I'm Lisa Brady.

[James Patterson]

FOX NEWS thanks for listening. Do you like true crime podcasts? If so, check out Unsolved with James Patterson. Listen ad free on Amazon Music or just say Alexa, play the podcast Unsolved with James Patterson on Amazon Music.