President Trump Set to Sign Spending Bill Tomorrow on July 4th

Summary

Fox News Hourly Update: President Trump Set to Sign Spending Bill Tomorrow on July 4th
Release Date: July 3, 2025

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1. President Trump's Upcoming Signing of the Spending Bill

Overview:
President Donald Trump is poised to sign a significant tax cut and spending package, described by him as the "biggest bill of its kind." The measure received passage in the House and is scheduled for signing at 5 PM tomorrow, July 4th, as part of Independence Day celebrations.

Key Points:

• Trump's Statement:
  “It's the biggest tax cut in history, great for security, great on the southern border,” declared President Trump aboard Air Force One en route to a rally in Des Moines, Iowa. (00:16)

• Democratic Opposition:
  Democratic leader Hakeem Jeffries expressed strong concerns regarding the bill's impact on essential services.
  “Medicare could be cut by more than $500 billion and these earned benefits of the American people could be jeopardized,” Jeffries warned. (00:32)

• Republican Defense:
  In response, Trump and fellow Republicans asserted that Medicaid would remain unaffected, emphasizing their focus on eliminating "wasteful spending."

• Economic and Security Measures:
  President Trump announced that his administration would begin sending letters to various countries to determine potential tariff rates on imports. Additionally, he revealed plans to deploy approximately 200 Marines from Air Station New River in North Carolina to Florida. This move aims to support Immigration and Customs Enforcement (ICE) by managing locations and handling logistics, as part of a broader homeland security initiative approved by Defense Secretary Pete Hecht. The deployed Marines will not engage directly with detainees or their capture. (01:09)

Notable Quote:

“Its kind, biggest tax cut in history, great for security, great on the southern border.”
— Donald Trump (00:16)

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2. Wall Street Market Update

Overview:
The financial markets experienced a shorter trading day with notable gains despite reduced activity.

Key Points:

• Dow Jones Industrial Average: Increased by 344 points.
• NASDAQ Composite: Rose by 207 points.

Notable Quote:

“America's listening to Fox News.”
— Scott Wall Street, Fox News (01:47)

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3. Arrest of Mexican Boxer Julio Cesar Chavez Jr.

Overview:
Mexican boxer Julio Cesar Chavez Jr. has been apprehended by Immigration and Customs Enforcement (ICE) and is undergoing processing for removal from the United States.

Key Points:

• Legal Status and Charges:
  Chavez Jr., a Mexican citizen, faces an active arrest warrant in Mexico related to organized crime and trafficking of firearms, ammunition, and explosives. He entered the U.S. legally on a B2 tourist visa but overstayed his visa expiration in February 2024. Authorities also suspect his affiliation with the Sinaloa cartel.

• Circumstances of Arrest:
  Chavez Jr. was arrested in Studio City, California, shortly after losing a boxing match against Jake Paul. (02:30)

Notable Quote:

“Chavez, a Mexican citizen, has an active arrest warrant in his home country for his involvement in organized crime and trafficking, firearms, ammunition and explosives.”
— Joe Morgan, Fox News (02:38)

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4. Russia Recognizes Taliban Government in Afghanistan

Overview:
Russia has become the first nation to formally recognize the Taliban's government in Afghanistan since their resurgence in 2021 following the withdrawal of U.S. and NATO forces.

Key Points:

• International Relations:
  This recognition marks a significant shift in global diplomatic stances towards Afghanistan's current governance.

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5. Legal Developments in the Tupac Shakur Case

Overview:
A legal bid for a new trial by the suspect in Tupac Shakur's 1996 murder has been denied by a judge in an unrelated criminal case.

Key Points:

• Case Details:
  Dwayne Keefe D. Davis, accused of orchestrating the murder of rapper Tupac Shakur, sought a new trial in a separate battery case linked to a jailhouse fight. The judge ruled against the request following testimony that was deemed biased. Davis maintains his innocence regarding both charges, with his trial for Shakur's murder scheduled for February. (03:10)

Notable Quote:

“Davis has pleaded not guilty to first degree murder and Shakur's killing.”
— Unnamed Reporter (03:10)

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6. Passing of Actor Michael Madsen

Overview:
Renowned actor Michael Madsen, celebrated for his roles in Quentin Tarantino's films such as Reservoir Dogs and Kill Bill, as well as Thelma and Louise, has passed away.

Key Points:

• Cause and Circumstances:
  Madsen was found unresponsive at his Malibu, California home and died from apparent cardiac arrest. He was 67 years old. (04:04)

Notable Quote:

“Michael Madsen was 67.”
— Lisa Licera, Fox News (04:04)

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Conclusion

In this episode of the Fox News Hourly Update, significant attention was given to President Trump's impending signing of a major tax and spending bill amidst political contention. Additionally, the episode covered notable developments in immigration enforcement, international relations, high-profile legal cases, and the passing of a beloved actor. The market updates and immediate policy actions highlighted the dynamic nature of current events shaping the national discourse.

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For more updates, stay tuned to Fox News Radio and visit Fox News Podcasts for additional content.

Transcript

[Lisa Licera]

He says it will be a celebration. I'm Lisa Licera, Fox News. President Trump now aboard Air Force One as he heads to a rally in Des Moines, Iowa, hours after the House passage of his tax cut and spending package. He says it's the biggest bill of.

[Donald Trump]

Its kind, biggest tax cut in history, great for security, great on the southern border.

[Lisa Licera]

The president said he will sign the measure at 5pm tomorrow. Ahead of the House vote. Democratic leader Hakeem Jeffries gave an impassioned speech warning of what Democrats say are the dangers of the bill.

[Hakeem Jeffries]

Medicare could be cut by more than $500 billion and these earned benefits of the American people could be jeopardized.

[Lisa Licera]

The president and other Republicans say Medicaid will not be impacted and they're focused on what they call wasteful spending. President Trump says his administration would start sending letters to countries probably tomorrow to identify the tariff rates they would face on imports to. The Marines based in North Carolina will be heading to Florida to support ICE enforcement efforts.

[Unnamed Military Official]

The approximately 200 Marines from Air Station New river in North Carolina will be working with Immigration and Customs Enforcement to help manage locations and handle logistics in Florida. This was part of a homeland security request in May for as many as 700 troops, active reserve and National Guard that was approved by Defense Secretary Pete Hexseth. The New river troops are the first from the US Northern Command, which is responsible for North America, Alaska, the Bahamas and their waterways. While they will support ICE efforts, these troops will not be allowed to engage directly with detainees or their capture.

[Lisa Licera]

Fox's Granad Scott Wall Street a shorter day of trading. The Dow added 344. The NASDAQ gain 207. America's listening to Fox News.

[Ray Dalio]

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[Lisa Licera]

Mexican boxer Julio Cesar Chavez, Jr. Has been arrested by Immigration and Customs Enforcement and is being processed for removal from.

[Joe Morgan]

The U.S. the Department of Homeland Security. Chavez, a Mexican citizen, has an active arrest warrant in his home country for his involvement in organized crime and trafficking, firearms, ammunition and explosives. Chavez entered the US legally on a B2 tourist visa, but he stayed past his expiration date of February 2024. He is also believed to be an affiliate of the Sinaloa cartel. Chavez was arrested in Studio City, California, on Wednesday, days after the former middleweight champion lost a boxing match against Jake Paul. Joe Morgan, Fox News.

[Lisa Licera]

Russia has become the first country to formally recognize the Taliban's government in Afghanistan since it came back into power in 2021 following the withdrawal of US and NATO forces. A judge denies a bid by the suspect in Tupac Shakur's killing for a new trial in an unrelated criminal case.

[Unnamed Reporter]

Dwayne Keefe D. Davis, the man accused of masterminding the 1996 murder of Tupac Shakur, just lost a bid for a new trial in a separate battery case stemming from a jailhouse fight. The ruling came Wednesday in Las Vegas after a hearing where jurors from his April battery trial took the stand to deny claims of jury misconduct. Davis's son and a self described journalist had testified they overheard a juror discussing the case during a lunch break, but the judge called their testimony bias, noting the two were friends. Davis has pleaded not guilty to first degree murder and Shakur's killing. He's accused of planning the deadly drive by near the Las Vegas Strip. The trial is set for February.

[Lisa Licera]

Michelle Palino, Fox NEWS Actor Michael Madsen, known for his roles in the Quentin Tarantino films Reservoir Dogs and Kill Bill, as well as Thelma and Louise in many more roles, has died. His manager says Madsen was found unresponsive in his home in Malibu, California, and died from apparent cardiac arrest. Michael Madsen was 67. I'm Lisa Licera. This is FOX News.

[Will Kane]

It's Will Kane Country Watch it live at noon Eastern Monday through [e-mail] or on the Fox News YouTube channel. And don't miss the show. Listen and follow the podcast five days a week at Fox newspodcasts.com or wherever you download your favorite podcasts.