NPR News Now: December 20, 2024, 7PM EST

Host: Jack Spear
Release Date: December 21, 2024
Duration: 4 minutes and 58 seconds

US Government Funding and Shutdown Prevention

Jack Spear opens the episode by addressing the imminent threat of a government shutdown. With hours remaining before midnight, House lawmakers have approved a temporary funding measure introduced by House Speaker Mike Johnson. This decisive action marks the third attempt to avert a shutdown, aiming to fund government operations while setting aside President-elect Donald Trump's demands regarding the nation's borrowing capabilities.

Mike Johnson [00:43]: "We are really grateful that tonight, in bipartisan fashion, with overwhelming majority of votes, we passed the American Relief Act of 2025. This is a very important piece of legislation. It funds the government. Of course, until March of 2025, that was a big priority for us. This is America first legislation because it allows us to be set up to deliver for the American people."

The measure now proceeds to the Senate and awaits President Joe Biden's signature. Originally, President-elect Trump had heavily pushed the debt ceiling issue, but recognizing the potential for resistance, Speaker Johnson has deferred this debate to the incoming administration.

Elon Musk's Influence on Government Funding

Jack Spear delves into the unexpected role of Elon Musk in the government funding impasse. The tech billionaire and owner of the social media platform X has leveraged his substantial influence to impact Republican-backed funding plans.

Stephen Fowler [01:30]: "Musk is not an elected official, but his proximity to President elect Trump and high-profile posting helped sink a bipartisan funding bill announced earlier this week. He called it, quote, criminal and attacked language that went beyond spending to keep the government open. Musk also threatened to support primary challengers to anyone that voted against his wishes."

Musk's aggressive stance has intensified conflicts within the narrowly divided Republican House majority, complicating an already challenging legislative environment.

Biden Administration's Student Loan Forgiveness

Transitioning to domestic policy, Jack Spear highlights a significant development in student loan forgiveness. The Biden administration has approved a new round of forgiveness for approximately 55,000 borrowers engaged in public service roles.

Cory Turner [02:09]: "This latest effort for borrowers in the Public Service Loan Forgiveness program will provide more than $4 billion in relief. In a statement, President Joe Biden said his administration has now approved relief for nearly 5 million student loan borrowers."

Despite facing legal challenges and Republican opposition, which argues that broad loan forgiveness is beyond presidential authority and financially burdensome, the administration persists in its efforts to alleviate federal student debt.

Federal Reserve Inflation Data and Market Reaction

Jack Spear reports on the latest Federal Reserve inflation metrics, revealing minimal change in prices last month—an increase of merely 0.1%. This steady inflation rate signals positive momentum toward the Fed's 2% target.

Jack Spear [02:51]: "Last month, prices were up 1/10 of 1%. That's a positive sign after months of increasing price pressures and shows the central bank may still be moving towards its goal of 2% inflation."

The favorable inflation data sparked a rally in the stock market, with the Dow Jones Industrial Average climbing 498 points and the Nasdaq rising by 199 points.

International News: Volkswagen's Wage Deal in Germany

Shifting to international affairs, Jack Spear covers developments in Germany where Volkswagen has reached a wage agreement with its workers. This pact prevents plant closures and involuntary layoffs until 2030, although it includes provisions to responsibly reduce over 35,000 jobs within the same timeframe.

Jack Spear [02:51]: "In Germany, officials at automaker Volkswagen say a deal has been reached on wages, the agreement warding off the prospect of plant closings there and barring involuntary layoffs through 2030. The company did say, however, the agreement would include provisions to responsibly cut more than 35,000 jobs over that same period."

This agreement underscores Volkswagen's strategy to balance economic sustainability with workforce management amidst evolving industry challenges.

Texas Death Row Case and Legislative Efforts

In a poignant domestic story, Jack Spear reports on the case of Robert Roberson, a Texas death row inmate who was scheduled for execution in October but was halted by lawmakers questioning the scientific basis of his conviction. An unprecedented move saw Roberson summoned to testify before a House panel after more than two decades since his conviction for the murder of his two-year-old daughter, attributed to shaken baby syndrome.

Luz Moreno Lozano [03:51]: "Robert Roberson was set to be executed in October. That was halted by a group of lawmakers who believe he was convicted on bad science. Roberson was convicted of capital murder in 2003 for the death of his two-year-old daughter. Prosecutors say it was from shaken baby syndrome. Democratic state Rep. Joe Moody says the committee is not giving up."

Stephen Fowler [04:11]: "There are nationwide problems in cases like this. And I know I speak for every member of this committee when I say that we're committed to getting this right and seeing that justice is done."

Representative Luz Moreno Lozano emphasizes the committee's dedication to addressing such critical issues in the justice system.

Business News: Netflix's Women's World Cup Deal and Oil Prices

Concluding the episode, Jack Spear announces that Netflix has secured the US broadcasting rights for the Women's World Cup in both 2027 and 2031. This strategic move represents Netflix's significant expansion into live sports broadcasting, marking the most substantial deal of its kind to date. While the financial terms remain undisclosed, this acquisition positions Netflix as a major player in sports media.

Additionally, crude oil futures experienced a slight uptick, with prices rising by 8 cents per barrel, reflecting modest market volatility.

Jack Spear [04:31]: "Netflix says it secured the US broadcasting rights to the Women's World Cup both in 2027 and 2031. That's as the streaming media company continues its push into live sports. Deal announced today is the most significant. The sports organizing body FIFA has signed with the streaming service to carry out a major tournament. Terms of the deal were not disclosed. Crude oil futures prices moved higher. Oil up 8 cents a barrel."

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