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The Megyn Kelly Show
Big Beautiful Bill Passes, Jobs Report Surpasses Expectations, CBS Settles with Trump: AM Update 7/4
00:14:57
House Republicans pass President Trump’s sweeping “Big Beautiful Bill” just in time for July 4th, delivering major wins on taxes, border security, and entitlement reform. The U.S. economy adds 147,000 jobs in June, outpacing forecasts for the fourth straight month, as unemployment drops and markets rally. CBS parent company Paramount agrees to a $16 million settlement with President Trump over selectively-edited footage in a 60 Minutes interview with Kamala Harris. Riverbend Ranch: Visit https://riverbendranch.com/ | Use promo code MEGYN for $20 off your first order. Ground News: Use the link https://groundnews.com/megyn to get 40% off the Vantage subscription to see through mainstream media narratives.
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- [00:03]
State Farm Representative
If your small business is booming and ready to expand, you might say something.
- [00:07]
Like, it's happening.
- [00:11]
Crushed it. But if you need someone who can actually help protect your growing business, just say, like a good neighbor, State Farm is there. And just like that, your State Farm agent can help you get the coverage you need for your new space for your small business insurance needs. Like a good neighbor, State Farm is there.
- [00:34]
Megyn Kelly
Good morning, everyone. I'm Megyn Kelly. It's Friday, July 4, 2025. Happy Independence Day, and this is your AM update.
- [00:44]
Republican Congressman
Any of these individual achievements would be historic victories for a Republican Congress or any Congress. And today we're delivering on all of them.
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Megyn Kelly
House Republicans passing President Trump's one big beautiful bill just in the nick of time. Delivering the sign legislation to the White house for the July 4th celebrations.
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Economic Analyst
This job market is like the Energizer bunny. Every single time we expect it to run out of steam, it just keeps going and going.
- [01:11]
Megyn Kelly
The latest jobs report blowing away expectations. President Trump scores another win against the corporate media. CBS parent company Paramount agreeing to a settlement with the president in a case about 60 minutes. Selectively editing an interview with Vice President Kamala Harris ahead of the election. All that and more coming up in just a moment on a.m. update. It's time you've heard about Riverbend Ranch. Riverbend Ranch is located just a few miles from West Yellowstone, Montana, and is known as one of the most respected Angus ranches in the nation. Angus beef is known for its great flavor and tenderness. But the cattle at Riverbend Ranch are not your average Angus cattle. 35 years ago, using ultrasound technology, the owner of Riverbed Ranch began scouring the nation to identify specific purebred Angus cows that genetically produce a higher level of marbling and tenderness than normal Angus cattle. After over 30 years of careful selection and breeding, Riverbend Ranch developed beef that has superior flavor and tenderness. They take great pride in the humane treatment of their herd. The cattle spend their days in lush mountain meadows of Idaho, Montana and Wyoming. And they're raised without the use of artificial growth hormones or antibiotics. And this is real American beef. Born in America, raised in America and processed in America. And the beef is shipped directly from the ranch to your home. Go to Riverbend Ranch.com use promo code Megan to get $20 off on your first order. It's absolutely delicious. You can taste the difference. Riverbendranch.com promo code Megan the US Supreme Court in a 7:2 opinion making clear to a federal district judge in Boston, they tell him to do not the other way around. Federal District Judge Brian Murphy of Massachusetts, placed on the bench in President Biden's waning days in office in April, issuing a preliminary injunction that stopped the Trump administration from deporting illegal immigrants to third countries, meaning countries from which they do not hail. While the injunction was pending, the Trump administration appealed and also transported eight men out of the US En route to South Sudan in May. Judge Murphy held that was a violation of his injunction, the government thus stopping the transport, temporarily holding the men in Djibouti. The Supreme Court lifted that preliminary injunction, allowing Trump's deportations to continue while the case plays out on the merits. And then Judge Murphy tried to enjoin the deportations anyway, saying that since the government had violated his injunction order in the first place and he could still punish them by enforcing his now clearly invalid injunction order. The government called this unprecedented defiance, asking the Supreme Court to clarify its earlier ruling. Late Thursday, the high court made clear these deportations may resume, including of the men in Djibouti. The majority, which included the court's six conservatives and Justice Kagan, a liberal, held the May 21 order cannot be used to enforce an injunction that our stay rendered unenforceable. Justice Kagan concurring. Quote, I do not see how a district court can compel compliance with an order that this court has stayed. Justices Sotomayor and Jackson dissenting, accusing the Trump administration of flouting the injunction and getting away with it. Quote, Today's order clarifies only one thing. Other litigants must follow the rules, but the administration has the Supreme Court on speed dial. The House passing President Trump's one big beautiful bill on Thursday, following down to the wire negotiations with several GOP holdouts, weather delays as well preventing representatives from returning to D.C. and hours and hours of Democrat stalling tactics. The final vote clocking in at 218 to 214. Republican Congressman Thomas Massie of Kentucky and Brian Fitzpatrick of Pennsylvania joining every Democrat in voting no. The sounds from the House floor in the moments after the legislation passed.
- [05:24]
Republican Congressman
On this vote, the yeas are 218. The nays are 214. The motion is adopted.
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Megyn Kelly
GOP leadership locking in Republican support to clear a procedural hurdle around 3:20am on Thursday morning. Then around 5am House Minority Leader Hakeem Jeffries, without any remaining hope of changing the outcome, using his unlimited floor time to launch a last bid. Stalling tactic, reading through multiple binders slamming the bill as well as his Republican colleagues. Here's a sample of how that sounded.
- [06:02]
Hakeem Jeffries
Mr. Speaker, I rise Today, in strong opposition to Donald Trump's one big ugly bill. This disgusting abomination, the GOP tax scam. A deportation machine that will be unleashed on steroids by this one big ugly bill. We want no part of it, which is why we're fighting so hard to stop it. On behalf of every single American, I'm on this house floor after 6am and I'm planning to take my sweet time.
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Megyn Kelly
Inspiring. Ultimately, Mr. Jeffries speaking for a total of 8 hours and 44 minutes, setting a new record for longest speech in House history. The previous record set by then Minority Leader Kevin McCarthy in 2021. Speaker Mike Johnson taking a victory lap following Mr. Jeffrey's remarks.
- [06:53]
Republican Congressman
You know, Ronald Reagan said one time that no speech should be longer than 20 minutes. And unlike the Democrat leader, I'm going to honor my colleague's time and be a little more brief than that. All right? With one big beautiful bill, we are going to make this country stronger, safer and more prosperous than ever before. And every American is going to benefit from that. This big beautiful bill fulfills all the promises in the America first agenda. Record tax cuts for hard working Americans, historic savings at the same time to end reckless spending. We got energy dominance coming back to power. Our future. We have a secure border to protect American families. We have a strong military to restore peace through strength. Law enforcement will have the help of a border wall. Now that's 100% complete. Look, any of these individual achievements would be historic victories for a Republican Congress or any Congress. And today we're delivering on all of them in one big beautiful bill.
- [07:52]
Megyn Kelly
The bill, unchanged from the version passed by the Senate earlier this week, delivering on no taxes on tips up to $25,000 a year. No tax on overtime up to 12,500 for an individual. Permanently increasing the child tax credit, rescinding billions in Green New Deal funding, adding work requirements on Medicaid for able bodied adults. And providing a massive injection to the ICE budget to help with deportations prior to the BBB. ICE funding hovering around $10 billion annually. The BBB infusing the agency with more than $100 billion in funding through 2029. That's money for thousands of new officers, increasing illegal alien detention capacity and adding billions for transportation and removal, all to facilitate President Trump's mass deportation program. The President is set to sign the bill at the White House later today.
- [08:48]
Economic Analyst
The U.S. economy added 147,000 jobs in June. That was more than expected. This is tied for the first best.
- [08:56]
State Farm Representative
Number of job creation of the year.
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Megyn Kelly
Jobless claims much lower than expected across.
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Republican Congressman
The board Here in the labor market, this is a pretty solid rate.
- [09:05]
Economic Analyst
This jobs market is like the Energizer bunny. Every single time we we expect it to run out of steam. It just keeps going and going.
- [09:12]
Megyn Kelly
The latest jobs report coming in hotter than expected. The US adding 147,000 new jobs in the month of June, surpassing projections of 110,000. The unemployment rate dropping to 4.1% from 4.2% in May, defying expectations that it would increase to 4.3%. Markets surging in reaction, the S&P 500 and Nasdaq hitting new highs for the third time in four days. Press Secretary Caroline Levitt posting to X For the fourth month in a row, jobs numbers have beat market expectations with nearly 150,000 good jobs created in June. American born workers have accounted for all of the job gains since President Trump took office and wages continue to rise. The economy is booming again and it will only get better when the one big beautiful bill is passed and implemented. Coming up, Paramount agrees to pay a $16 million settlement in a lawsuit brought by then candidate Trump alleging deceptive editing of a 60 Minutes interview with Vice President Kamala Harris. These days it feels like everyone has an agenda. The media, big tech. But let me tell you about Ground News. They do not filter the news. They show how stories are being shaped, spun or ignored entirely so you can decide what to believe. Ground News is an independent app and website built to give users control over their newsfeed. It aggregates coverage from across the political spectrum and breaks down how each outlet is framing the story, including bias, ownership and what key details might be missing. If you're tired of being told what matters or what doesn't, it might be time to take the power back. Ground News is offering 40% off their unlimited access Vantage plan for a limited time. This offer is available exclusively@groundnews.com Megan that's ground G R O U N D newsnews.com Megan don't let anyone else decide what you get to see. Take back control of your newsfeed today. CPS parent company Paramount Global agreeing to pay 16 million doll dollars to settle a lawsuit filed by then candidate Trump in October 2024, accusing the network of deceptively editing a 60 Minutes interview with then Vice President Kamala Harris just weeks before the 2024 election. Mr. Trump taking issue with the edits, arguing they were designed to make the often rambling Ms. Harris sound more coherent to influence an election. In one promotional clip, CBS airing a long and winding answer from Vice President.
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Republican Congressman
Harris does the US have no sway over Prime Minister Netanyahu?
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State Farm Representative
I think that it is without any question our imperative to do what we can to allow Israel to defend itself against those kinds of attacks. Now the work that we do diplomatically with the leadership of Israel is an ongoing pursuit around making clear our principles, which include the need for humanitarian aid, the need for this war to end, the need for a deal to be done which would release the hostages and create a ceasefire.
- [12:31]
Megyn Kelly
In the final version that aired on 60, the Vice President's answer was different and far more concise for her does.
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Republican Congressman
The US have no sway over Prime Minister Netanyahu?
- [12:44]
State Farm Representative
The work that we do diplomatically with the leadership of Israel is an ongoing pursuit around making clear our principles.
- [12:54]
Megyn Kelly
Mr. Trump's legal team filing the suit in Texas under the Texas Deceptive Trade Practices Consumer Protection act and the federal Lanham act, which governs false advertising and unfair competition. The lawsuit, originally seeking $10 billion in damages, later raised to 20 billion, alleging CBS, quote, deceptively manipulated the interview in a manner calculated to make Harris appear coherent and decisive and thus the product more commercially appealing to defendants audience CBS maintains the company did nothing wrong and will not issue an apology as part of the settlement agreement, though going forward it will now release full transcripts with presidential candidates after the interviews have aired. The settlement fees will go toward Mr. Trump's legal costs and his future presidential library and will not be paid to the president directly. Many inside the network reportedly viewing the settlement as a setback for the First Amendment, a move that some believe was less about the merits of the case and more about clearing the way for Paramount's impending high stakes merger with Skydance Media, a deal requiring approval from Trump appointed chairman of the fcc. Brendan Carr Paramount, in a statement saying the settlement has nothing to do with the deal. In April, Amid settlement talks, 60 Minutes executive producer Bill Owens, resigning from his post, citing a lack of independence, writing in a staff memo, quote, having defended this show and what we stand for from every angle over time, with everything I could, I am stepping aside so the show can move forward. The show is too important to the country. It has to continue, just not with me as executive producer. Of course, Mr. Owens presided over an era at 60 in which the show got progressively anti Trump in its story selection and tone and drifted leftward in its approach to other stories, like when it suggested that K through 5 schools are not allowing sexually inappropriate materials in front of children, something the U.S. supreme Court just acknowledged is happening. President Trump's legal team calling the settlement quote, another win for the American people, as he once again holds the fake news media accountable for their wrongdoing and deceitful. And that'll do it on a busy AM Update. I'm Megyn Kelly. Join me back here for the Megyn Kelly show live on Sirius XM Triumph channel 111 at noon east on YouTube.com MeganKelly and on all podcast platforms. And in the meantime, have a great, great July 4th. Hope you spend some time with your family, having some burgers and dogs, saying the pledge, singing some songs, and feeling lucky to have been born in this beautiful country of ours.
- [15:31]
State Farm Representative
If your small business is booming and ready to expand, you might say something.
- [15:35]
Like, it's happening.
- [15:40]
Crushed it. But if you need someone who can actually help protect your growing business, just say, like a good neighbor, State Farm. He's there. And just like that, your State Farm agent can help you get the coverage you need for your new space for your small business insurance needs. Like a good neighbor, State Farm is there.