NPR News: 05-20-2025 5PM EDT

Summary

NPR News Now: May 20, 2025, 5 PM EDT

Hosted by NPR

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President Trump’s Meeting with House Republicans on Spending and Tax Cuts

Timestamp: [00:18] - [01:09]

President Donald Trump convened with House Republicans on Capitol Hill for an extensive discussion regarding a comprehensive spending and tax cut bill central to his legislative agenda. As reported by NPR's Deepa Shivaram, the meeting spanned over an hour, highlighting the complexities and divisions within the Republican party.

Trump characterized the gathering as a "meeting of love" (00:34), dismissing concerns from reporters about his patience with the divided lawmakers. Despite his assurances that the legislative process is "ahead of schedule," significant disagreements persist. The proposed bill encompasses critical aspects of Trump's policy priorities, including enhanced funding for border security and multiple tax reductions. However, moderate Republicans are apprehensive about provisions related to Medicaid protection, while fiscal conservatives express concerns over the potential increase in the national deficit (00:34). House Speaker Mike Johnson has expressed a goal to pass the bill by Memorial Day, underscoring the administration's push to advance its legislative objectives rapidly.

Introduction of the Golden Dome Missile Defense Program

Timestamp: [01:09] - [01:38]

In a significant defense announcement, President Trump unveiled his "Golden Dome" missile defense program at the White House. This ambitious initiative aims to deploy a state-of-the-art weapons system capable of intercepting and destroying incoming missiles in flight, marking the first instance of U.S. weaponry being stationed in space.

Lena Salyuk reports that the program is projected to cost upwards of $175 billion and may take several years to become fully operational. Despite the hefty investment, Trump assured the public that the defense shield would be operational by the end of his term (01:30). Additionally, Canada has shown interest in collaborating on this project, indicating potential international partnerships in enhancing North American defense capabilities (01:34).

Home Depot’s Stance on Tariffs Amidst Broader Corporate Concerns

Timestamp: [01:38] - [02:39]

Amid ongoing tariff implementations, Home Depot has announced that it does not anticipate a broad-based price increase for its products. Contrary to the apprehensions of many businesses grappling with the financial strain of absorbing tariff costs, Home Depot aims to maintain price stability. However, the company conceded that certain product lines might be discontinued if the import costs render them economically unviable (01:38).

Alina Seluk elaborates on Home Depot's strategy during their recent earnings call, noting that more than half of their products are sourced domestically and that their suppliers have diversified extensively. This diversification strategy is expected to limit reliance on any single foreign country to no more than 10% by mid-next year (02:39). This contrasts with other major retailers like Walmart, Best Buy, Mattel, and Procter & Gamble, many of which have indicated they will need to raise prices to cope with the increased costs (02:39).

Elon Musk Reduces Political Campaign Funding and Market Reactions

Timestamp: [02:39] - [03:12]

In a notable shift, Elon Musk, recognized as the world's richest individual and a key supporter of President Trump, has announced a strategic reduction in his contributions to political campaigns. Announced during a Bloomberg forum in Qatar, Musk's decision appears to stem from his challenging tenure overseeing the Trump administration's Department of Government Efficiency. Musk emphasized his commitment to focusing on his role as CEO of Tesla moving forward (02:39).

This announcement coincided with a downturn in the stock market, where major indices closed lower. The Dow Jones Industrial Average fell by 114 points, the Nasdaq decreased by 72 points, and the S&P 500 dropped by 23 points (02:39). Market analysts suggest that Musk's withdrawal from political funding may have influenced investor sentiment, contributing to the day's losses.

Winner Announced for NPR College Podcast Challenge

Timestamp: [03:12] - [04:19]

NPR celebrated the grand prize winner of the NPR College Podcast Challenge: Joe Strogatz from the Salt Institute of Documentary Studies in Portland, Maine. Janet Ujeong Lee reports that Strogatz's winning podcast, "Just Friends," delves into profound life questions through intimate conversations.

In "Just Friends," Steve Small, the podcast’s main character, reflects on the importance of friendships over traditional relationships. As Small states, "I have to say that my friendships are 100 times more important to me. My friendships are the closest thing I have to a marriage" (03:55). The podcast intertwines Small's narratives with original music, offering listeners a contemplative exploration of personal fulfillment and the value of enduring friendships (04:06). Strogatz's work has not only earned acclaim but also provided her with deeper insights into her own relationships and personal growth.

Weenie 500: The Iconic Wienermobile Races for Gold

Timestamp: [04:19] - [04:56]

Adding a whimsical touch to the sports scene, the iconic Oscar Mayer Wienermobile is set to participate in the inaugural Weenie 500 race in Indianapolis this Friday. For the first time, six Wienermobiles will converge at the same location to compete, each representing a regional hot dog specialty. As Jack Speier highlights, these unique vehicles will "start their engines and go for the gold" (04:25).

The event, dubbed the Weenie 500, will culminate in a vibrant display during the pregame festivities of the upcoming Indianapolis 500 race. Fans can expect a blend of humor and competition as the beloved Wienermobiles vie for victory, making it a must-watch spectacle for both car enthusiasts and food lovers alike (04:30).

Crude Oil Futures Remain Steady Amid Market Fluctuations

Timestamp: [04:31] - [04:56]

In energy markets, crude oil futures showed minimal movement today. Despite broader stock market declines, with the Dow, Nasdaq, and S&P 500 all experiencing notable drops, oil prices remained relatively stable, decreasing by just 13 cents per barrel (04:49). This stability suggests a temporary equilibrium in the energy sector amidst volatile economic indicators.

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Transcript

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[Jack Speier]

In Washington, I'm Jack Speier. President Trump met with House Republicans on Capitol Hill today for more than an hour. NPR's Deepa Shivram reports. The meeting was about the wide ranging spending and tax cut bill that encompasses much of Trump's agenda.

[Deepa Shivaram]

Trump called it a, quote, meeting of love and pushed back on reporters who asked if Trump was losing patience with Republican lawmakers who have been divided about the bill. Trump said they are ahead of schedule, but Republicans have been divided over the legislation in recent weeks. The bill includes major pieces of Trump's agenda like funding border security and several tax cuts. But some moderate lawmakers have concerns over things like protecting Medicaid, while some fiscal conservatives are concerned with how much the bill would add to the deficit. House Speaker Mike Johnson has said he wants to pass the bill by Memorial Day. Deepa Shivaram, NPR News.

[Jack Speier]

President Trump at the White House today outlined his so called Golden Dome missile defense program.

[Lena Salyuk]

The weapons system would cost hundreds of.

[Jack Speier]

Billions of dollars and could take years to complete.

[Lena Salyuk]

Though Trump said the defense shield will be operational by the end of his term, president system would for the first time put US Weapons in space, allowing.

[Jack Speier]

For the destruction of an incoming missile during flight.

[Lena Salyuk]

Trump said it will cost upwards of.

[Jack Speier]

$175 billion to complete.

[Lena Salyuk]

TRUMP also said Canada has expressed an interest in being part of the program.

[Jack Speier]

Home Depot says it does not expect.

[Lena Salyuk]

To broadly raise prices as a result of tariffs. That's in contrast to a growing number of companies worrying they cannot afford to absorb tariff costs. Still, Home Depot did acknowledge some product lines may simply go away if import costs make them not worth it. NPR's Lena Salyuk has more.

[Alina Seluk]

Home Depot executives on their latest earnings call say they do not expect to raise prices across the board. Instead, some items may face individual price increases or some product options may have to change or disappear if the tariff costs become too much. This comes only days after Walmart said that its margins were too narrow to absorb President Trump's sweeping tariffs and the chain will have to start raising prices as soon as this month. A growing list of brands and companies have said this, including Best Buy, Mattel and Procter and Gamble. Home Depot says more than half of its products already come from the US and its suppliers have diversified so much that by mid next year, no more than 10% of products will come from any one foreign country. Alina Seluk, NPR News.

[Lena Salyuk]

The world's richest man and a key supporter of President Trump has announced days pulling back when it comes to funding political campaigns. Elon Musk announcing his decision during a Bloomberg forum in Qatar. The decision appears to be something of a reflection following his tumultuous experience at the helm of the Trump administration's cost cutting Department of Government Efficiency, which or Doge Musk says going forward he's committed to being CEO of Tesla. Stocks mostly closed lower today on Wall Street. The dow was down 114 points.

[Jack Speier]

The Nasdaq fell 72 points.

[Lena Salyuk]

The S&P 500 dropped 23 points today.

[Jack Speier]

You're listening to NPR. NPR is announcing the grand prize winner.

[Lena Salyuk]

Of the NPR College Podcast Challenge. It's Joe Strogatz from Salt Institute of Documentary Studies in Portland, Maine. Bradford. NPR's Janet Ujeong Lee reports on her winning podcast.

[Janet Ujeong Lee]

When you listen to Strogatz's podcast, Just Friends, you hear a young 20 something pondering big life questions.

[Deepa Shivaram]

Sometimes I wonder, would I be happy?

[Steve Small]

Would I be fulfilled if I just.

[Deepa Shivaram]

Had friendships for the rest of my life?

[Janet Ujeong Lee]

So the recent college grad set out to find someone older and wiser who was single and truly happy. That's when she met Steve Small, the main character of her podcast.

[Steve Small]

I have to say that my friendships are 100 times more important to me. My friendships are the closest thing I have to a marriage.

[Janet Ujeong Lee]

In Just Friends, strogatz weaves Small's interview with original music in retelling his story. She says it's helped her focus on herself and her friendships. Janet Junglee, NPR News, Portland, Maine.

[Jack Speier]

When you think of the iconic Oscar Mayer wienermobile, speed may not be the.

[Lena Salyuk]

First thing that comes to mind.

[Jack Speier]

But this Friday in Indianapolis, the six.

[Lena Salyuk]

Wiener mobiles will start their engines and.

[Jack Speier]

Go for the gold.

[Lena Salyuk]

It's the first time all the vehicles have been in the same place at the same time and definitely the first time they've raced. Each will represent a regional hot dog favorite. Highlights of the Weenie 500 will air Sunday during the pregame warm up for this weekend's scheduled running of the Indianapolis 500. Crude oil futures prices ended the session little changed.

[Jack Speier]

Oil down 13 cents a barrel.

[Lena Salyuk]

In New York, I'm Jack Spear, NPR News, in Washington.

[NPR]

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