Fox News Hourly Update
Episode: 4AM ET 07/03/2025 Newscast
Release Date: July 3, 2025
Host: Carmen Roberts

1. Presidential Spending and Tax Cut Bill Debate

Carmen Roberts opens the episode by highlighting the intense efforts by lawmakers to advance the president's substantial spending and tax cut legislation. The debate over the bill has officially commenced after overnight sessions.

• House Debate Dynamics:
  Chad Pergram provides insights from Capitol Hill, indicating that while the House of Representatives officials anticipate an hour-long debate, the process may extend longer due to logistical challenges, including lawmakers possibly returning home after extended hours.
  Pergram notes, “Speaker Mike Johnson indicates that he believes they will pass this bill by 8:30 in the morning” (00:30).

• Political Factions and Opposition:
  The Republican side is divided between fiscal hawks advocating for significant spending cuts and moderates concerned about the potential reduction of essential programs like Medicaid.
  On the opposing front, Democrats staunchly reject the bill.
  Congresswoman Alexandria Ocasio-Cortez vehemently opposes the legislation, stating, “Losing all your health care, not able to feed your babies, not being able to put a diaper on their bottom in exchange for what? This bill is a deal with the devil” (00:51).

• Legislative Outlook:
  The bill faces minimal resistance within the Republican ranks, with only three defections needed to secure its passage.

2. New Jersey Skydiving Plane Crash

Tragedy struck at a New Jersey airport when a skydiving plane crashed, resulting in 15 injuries, three of which are critical. The incident occurred yesterday, eliciting a swift response from emergency services.

• Emergency Response and Survival:
  Andrew Halter, Gloucester County Chief of Hazmat, remarked on the miraculous survival of all onboard, emphasizing the coordinated efforts of the pilots and public safety personnel.
  He stated, “Just the fact that we have 15 people that are still with us here today, some of minor injuries I think is fantastic and remarkable. I think it's again a joint effort between probably the pilots initiative as well as all public safety providers that were out on scene tonight” (01:19).

• Investigation Status:
  As of the report, authorities have yet to determine the cause of the crash.

3. Legal Proceedings: Sean "Diddy" Combs Remains Incarcerated

Sean "Diddy" Combs remains in jail awaiting sentencing on charges related to transporting individuals for prostitution. Notably, he was acquitted of more severe charges, including sex trafficking and racketeering.

• Attorney's Assessment:
  Mark Agnifilo, one of Combs' attorneys, expressed satisfaction with the jury's decision, commenting, “They listened to every word and they got the situation right or certainly right enough” (01:48).

4. U.S.-Vietnam Trade Agreement Announced

The Trump administration has unveiled a significant trade agreement with Vietnam, marking a strategic move in international trade relations.

• Deal Framework and Details:
  Mark Agnifilo elaborates on the framework agreement, highlighting its components and future implications.
  According to Politico, the deal includes the purchase of 50 Boeing jets valued at approximately $8 billion and commitments from Vietnam to acquire $2.9 billion worth of U.S. agricultural products.
  Agnifilo notes, “The final deal will work out specific rules of origin so China can't use Vietnam to repackage. It's good” (03:11).
  This agreement is anticipated to be among several deals finalized before the July 9 deadline, which threatens the reimposition of reciprocal tariffs.

5. Stock Market Performance

The trade deal with Vietnam has had a positive impact on the U.S. stock markets, propelling major indices to record highs.

• Market Movement:
  Edward Lawrence of Fox Business reports that the S&P 500 and Nasdaq achieved their third consecutive record closes in four sessions, while the Dow Jones Industrial Average experienced a slight decline of 11 points.
  This surge is attributed to investor optimism following the trade agreement announcement.

6. O.J. Simpson Estate Legal Battle

The legal disputes surrounding the estate of the late O.J. Simpson continue to unfold, particularly concerning outstanding financial obligations from past legal judgments.

• Estate Claims:
  Tonya J. Powers details the ongoing legal struggles over Simpson's estate, especially after the sale of his personal items earlier in the year.
  Although Simpson was acquitted in the criminal case related to the 1994 murders of his ex-wife and her friend, he was found liable in a civil suit, ordered to pay $33.5 million to the families.
  With the debt unpaid and accruing interest, Fred Goldman, Ron Goldman's father, filed a creditor's claim of $117 million against the estate last July.
  Powers explained, “Legal wrangling over the estate of O.J. Simpson continues following the sale of Simpson's items, including sports memorabilia earlier this year” (04:04).

7. Food Safety: Oscar Meyer Recalls Turkey Bacon

In a public health alert, Oscar Meyer announced the recall of nearly 368,000 pounds of turkey bacon due to potential contamination with Listeria bacteria.

• Recall Details and Health Implications:
  The contamination was identified during routine laboratory testing, and fortunately, no illnesses have been reported to date.
  However, Carmen Roberts warned, “Listeria infections can turn deadly” (04:42), emphasizing the seriousness of the recall.

Notable Exclusions:
Advertisements and promotional segments, including messages from NetSuite and promotions for "Unsolved with James Patterson," have been omitted from this summary to focus solely on the core news content.

This summary provides a comprehensive overview of the key topics discussed in the Fox News Hourly Update released on July 3, 2025. For more detailed information, listeners are encouraged to tune into the full broadcast.