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May 21, 2025

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In this video, Frank dives into some of his favorite features on StockCharts.com. He then dissects the S&P 500 and Bitcoin price action, before exploring the the XLK Technology ETF’s explosive move off the lows. He also highlights a few recent trade ideas and setups worth watching. Get trade ideas and chart setups worth watching in today’s technical review.

This video originally premiered on May 20, 2025.

You can view previously recorded videos from Frank and other industry experts at this link.

Despite economic and geopolitical upheaval, 2024 was relatively calm for platinum-group metals (PGMs).

In its new PGMs report, research firm Metals Focus notes that all five PGMs — platinum, palladium, rhodium, iridium and ruthenium — ended 2024 in physical deficit, marking a pivotal year of stabilization and supply strain.

With tightening mine output, rising hybrid vehicle demand and industrial shifts driving ruthenium and iridium gains, 2025 is set to test the sector’s resilience amid constrained supply and cautious investor sentiment.

As the sector looks to 2025, the outlook remains constrained but cautiously optimistic.

PGM supply constraints widen deficits

While all five PGMs were in physical deficit last year, overall mine supply did edge on 2 percent year-on-year.

However, Metals Focus notes that this figure masks underlying weaknesses.

Much of the gain stemmed from temporary factors, such as the release of work-in-process stockpiles, particularly in South Africa, which accounted for a significant portion of the PGMs inventory processed during the year.

Platinum mine supply rose 3 percent to 5.77 million ounces, mainly due to output from South Africa, whose production exceeded 4 million ounces for the first time since 2021. Yet stripping out the one-time work-in-process boost, global production was more than 1 million ounces below the 2010 to 2021 average of 14.95 million ounces.

For palladium, mine supply rose less than 1 percent, bolstered by modest gains in Russia and stock drawdowns in South Africa, even as Canadian output dropped 10 percent due to price pressure.

The report notes that production cuts in high-cost regions were inevitable, owing to closures like Sibanye-Stillwater’s (NYSE:SBSW) shutdown of Stillwater West and curtailed operations at East Boulder.

In total, platinum ended the year with a second consecutive shortfall. Palladium was short by 407,000 ounces, continuing a near-decade trend of tightness. Rhodium, ruthenium and iridium also closed the year with deficits of 178,000 ounces, 219,000 ounces and 49,000 ounces, respectively — an across-the-board supply squeeze not seen in years.

Demand for PGMs shifts under electrification and industrial dynamics

On the demand side, the automotive sector — the dominant consumer of PGMs — saw a 4 percent contraction in fabrication demand to 12.14 million ounces, the first such drop since the pandemic year of 2020.

The continued rise of battery electric vehicles (BEVs), which do not use PGMs in their drivetrains, contributed to a 2 percent decline in catalyzed vehicle output. Although BEV growth slowed to 9 percent — its weakest since the technology gained mainstream traction — its market share still rose from 12 percent to 13 percent.

Hybrids, however, offered a bright spot for PGMs, with production jumping 28 percent and often requiring heavier PGM loadings than traditional internal combustion engine (ICE) vehicles. This helped cushion demand for autocatalysts, particularly platinum, which saw slower rates of palladium substitution as the price gap narrowed.

Platinum demand, in contrast, overall fell by 2 percent to 7.79 million ounces. Automotive and industrial usage were also dragged down by a 27 percent plunge in chemical applications, particularly in China’s paraxylene sector.

But jewelry demand surged 9 percent — its strongest growth since 2019 — driven by India’s booming export orders and Japanese consumers shifting from gold due to its soaring price.

Ruthenium and iridium, the lesser-known PGMs, also saw rising industrial relevance.

Ruthenium demand surged by 20 percent — reaching its highest level since 2006 — fueled by China’s caprolactam chemical sector and artificial intelligence-driven growth in hard disk drive production.

Meanwhile, iridium demand jumped 15 percent to a record 298,000 ounces, driven by ballast water treatment systems, acetic acid output, and early stage copper foil applications.

Palladium, long buoyed by ICE reliance, saw total demand fall 4 percent to 9.75 million ounces.

Automotive fabrication dropped 5 percent, with thrifting and substitution playing an increasing role, though the latter slowed due to narrowing discounts with platinum. Industrial use remained stable, down less than 1 percent, with electronics up 1 percent amid recovering consumer tech and AI hardware growth.

Recycling gains traction, but can’t fill supply gap

Secondary supply helped offset falling mine output, with autocatalyst recycling up 9 percent year-on-year.

Metals Focus largely attributes this gain to higher vehicle scrappage rates, improved new car sales and aggressive recycling incentives in China. Still, recycling fell short of restoring equilibrium.

Platinum secondary supply rose just 1 percent as jewelry recycling remained weak, with Chinese and Japanese flows down due to sustained low prices and reduced scrap availability.

Palladium fared better with a 9 percent increase — its strongest growth in five years — again led by China, where palladium dominates catalytic converter formulations.

Yet, even with these gains, total recycling volumes were insufficient to offset underlying shortfalls. Jewelry scrap fell by 29 percent for platinum and 45 percent for palladium compared to 2021, underscoring a structural shift in the recycling base amid changing consumer behavior and metal substitution.

PGMs prices stabilize, but caution prevails

PGMs prices stayed fairly in 2024, with volatility restrained.

Platinum traded within a tight US$850 to US$1,100 per ounce band, hovering mostly from US$900 to US$1,000.

Palladium, despite ongoing bearish sentiment, found support at US$900 per ounce, while rhodium stabilized around US$4,400 per ounce after collapsing from highs above US$29,000 in 2021. Meanwhile, iridium fell 12 percent in price over the year, though bargain hunters helped maintain a floor around US$4,000 per ounce.

Ruthenium rebounded 24 percent from September lows, ending the year supported by robust Chinese demand.

While the PGMs markets appear to be finding their bottom, the Metals Focus report emphasizes that the risk of supply squeezes and price spikes remains.

Indeed, short positioning on the CME contributed to sporadic rallies, especially for palladium. Net managed money positions averaged 1.05 million ounces short for the year, peaking at 1.63 million ounces in August.

Metals Focus’ 2025 PGMs outlook

Looking ahead, 2025 is expected to continue many of 2024’s trends.

Physical deficits will persist, particularly in rhodium, ruthenium, and platinum. Above-ground stocks (AGS) remain elevated for platinum and palladium, muting potential price rallies, but continued mine cutbacks could shift this balance over time.

Forecasts suggest platinum will average US$970/oz, up slightly from 2024. Palladium is expected to average US$930, down 5 percent year-on-year, while rhodium may rise 8 percent to US$5,000, supported by its deficit and scarce above-ground reserves.

Ruthenium is forecast to jump 26 percent to US$550, with iridium expected to average US$4,100, a 14 percent drop driven largely by 2024’s elevated base.

In sum, 2024 marked a transitional year for the PGMs—one of normalization rather than expansion. Supply remains tight, demand is recalibrating in the face of technological shifts, and investors are returning cautiously.

Whether 2025 brings further recovery or renewed disruption for the collective will depend not just on markets—but on mines, metals, and momentum-shifting market sentiment.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Thanks to exchange-traded funds (ETFs), investors don’t have to be tied to one specific stock. When it comes to biotech ETFs, they give sector participants exposure to many biotech companies via one vehicle.

ETFs are a popular choice as they allow investors to enter the market more safely compared to investing in standalone stocks. A key advantage is that even if one company in the ETF takes a hit, the impact will be less direct.

All other figures were also current as of that date. Read on to learn more about these investment vehicles.

1. ALPS Medical Breakthroughs ETF (ARCA:SBIO)

AUM: US$80.23 million

Launched in December 2014, the ALPS Medical Breakthroughs ETF tracks small- and mid-cap biotech stocks that have one or more drugs in either Phase II or Phase III US FDA clinical trials. Its holdings must have a market cap between US$200 million and US$5 billion.

There are 100 holdings in this biotechnology fund, with about 60 percent being small- and micro-cap stocks. Its top holdings include Verona Pharma (NASDAQ:VRNA) at a weight of 5.31 percent, Alkermes (NASDAQ:ALKS) at 4.41 percent and Axsome Therapeutics (NASDAQ:AXSM) at 4.24 percent.

2. Tema Oncology ETF (NASDAQ:CANC)

AUM: US$63.67 million

The Tema Oncology ETF provides exposure to biotech companies operating in the oncology industry. It includes companies developing a range of cancer treatments, including CAR-T cell therapies and bispecific antibodies.

Launched in August 2023, there are 52 holdings in this biotechnology fund, of which about half are small- to mid-cap stocks and 4 percent are micro-cap stocks. Among its top holdings are Revolution Medicines (NASDAQ:RVMD) at a 6.05 percent weight, Roche Holding (OTCQX:RHHBF,SWX:RO) at a weight of 5.08 percent and Eli Lilly and Company (NYSE:LLY) at 4.87 percent.

3. Tema GLP-1 Obesity and Cardiometabolic ETF (NASDAQ:HRTS)

AUM: US$51.5 million

Launched in November 2023, the Tema GLP-1 Obesity and Cardiometabolic ETF tracks biotech stocks with a focus on diabetes, obesity and cardiovascular diseases. The fund was renamed on March 25 from Tema Cardiovascular and Metabolic ETF. More than three-quarters of its holdings are based in the US.

There are 47 holdings in this biotechnology fund, with about 75 percent being large-cap stocks and 18 percent mid-cap. Its top holdings are Eli Lilly and Company at a 9.92 percent weight, Abbott Laboratories (NYSE:ABT) at 4.77 percent and AstraZeneca (NASDAQ:AZN) at 4.14 percent.

4. ProShares Ultra NASDAQ Biotechnology (NASDAQ:BIB)

AUM: US$44.19 million

The ProShares Ultra NASDAQ Biotechnology ETF was launched in April 2010 and is leveraged to offer twice daily long exposure to the broad-based NASDAQ Biotechnology Index, making it an ideal choice “for investors with a bullish short-term outlook for biotechnology or pharmaceutical companies.” However, analysts also advise investors with a low risk tolerance or a buy-and-hold strategy against investing in this fund due to its unique nature.

Of the 268 holdings in this ETF, the top biotech stocks in the ETF are Gilead Sciences (NASDAQ:GILD) at a 6.06 percent weight, Vertex Pharmaceuticals (NASDAQ:VRTX) at 5.99 percent and Amgen (NASDAQ:AMGN) at 5.84 percent. Additionally, over a third of its holdings are in United States Treasury Bills.

5. Direxion Daily S&P Biotech Bear 3x Shares (ARCA:LABD)

AUM: US$43.42 million

The Direxion Daily S&P Biotech Bear 3x Shares ETF is designed to provide three times the daily return of the inverse of the S&P Biotechnology Select Industry Index, meaning that it rises in value when the index falls and falls in value when it rises. Leveraged inverse ETFs are designed for short-term trading and are not suitable to hold long-term. They also carry a high degree of risk as they can be significantly affected by market volatility.

The top three life science holdings in this ETF are Exact Sciences (NASDAQ:EXAS) at a weight of 2.23 percent, Alnylam Pharmaceuticals (NASDAQ:ALNY) at a weight of 2.15 percent and Neurocrine Biosciences (NASDAQ:NBIX) at 2.03 percent.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Anteros Metals Inc. (CSE: ANT) (‘Anteros’ or the ‘Company’) is pleased to report results from recent assessment work at its 100% owned Strickland VMS Property (‘Strickland’ or the ‘Property’) in southwestern Newfoundland. The work focused on the digitization and interpretation of multi-element geochemical data from historic trenching, advancing drill targeting efforts on this underexplored polymetallic volcanogenic massive sulphide (‘VMS’) system.

Prior to its public listing, Anteros commissioned the compilation, digitization, and 3D geological modelling of the Strickland VMS system in 2023 and 2024. This foundational work established a strong understanding of Property’s geology, alteration, and structure, and enhanced the understanding of multiple mineralized zones along a 1.4 kilometre trend (Figure 1). Since going public, Anteros has advanced the project through targeted follow-up, focusing on geochemical vectoring and priority zone refinement. The 2025 program confirmed compelling indicators of feeder-style alteration and mineralization in underexplored zones and highlighted several new high-priority exploration targets.

Mineralization Highlights:

  • Feeder-style alteration and mineralization confirmed: Compilation of 95 multi-element assays from 2012 trenching, integrated with historical drill data in 3D models, is helping to vector toward the potential VMS core and optimize future drill targeting.
  • Copper Zone: Now a high-priority target, with historical trench sampling returning up to 3.7% Cu and 3.25 g/t Au over 1 metre (Cu-C1, Table 1), alongside elevated cobalt and intense alteration – features consistent with VMS feeder conduits.
  • Gold Zone: Historical trenching returned 1-metre intervals up to 3.2% Cu and 1.32 g/t Au (Au-C1, Table 1), with alteration and elemental ratios indicating proximity to a hydrothermal center. This zone has never been drill-tested.
  • Main Zone and Main Extension: Historical trench samples demonstrate elevated Pb-Zn-Ag over extended strike lengths, consistent with stratiform VMS-style mineralization.

Table 1: Select 2012 Historical Trench Intercepts1 from Key Mineralized Zones

TRENCH ID ZONE FR. (m) TO (m) INT. (m) Cu % Pb % Zn % Ag g/t Au g/t
Au-C1 Gold 1.20 6.40 5.20 0.84 0.35 0.10 75.6 0.77
including Gold 5.40 6.40 1.00 3.20 0.50 0.35 131.0 1.32
Cu-C0 Copper 0.00 19.00 19.00 0.62 0.11 0.41 7.3 0.14
including Copper 0.00 5.00 5.00 1.65 0.09 0.08 13.3 0.32
including Copper 4.00 5.00 1.00 4.20 0.16 0.20 33.4 0.79
including Copper 7.00 12.00 5.00 0.30 0.33 1.42 9.9 0.11
Cu-C1 Copper 1.00 6.00 5.00 1.91 0.05 0.03 26.6 1.83
including Copper 2.00 3.00 1.00 3.70 0.05 0.01 43.2 3.25
Cu-C2 Copper 4.00 10.00 6.00 0.38 0.27 0.28 13.4 0.74
Cu-C3 Copper 0.00 4.00 4.00 0.69 0.40 0.25 42.9 0.26
M-C1 Main 0.00 4.00 4.00 0.03 2.05 3.96 262.6 0.30
M-C2 Main 2.20 5.20 3.00 0.03 1.19 0.24 123.5 0.16
M-C3 Main 0.00 2.20 2.20 0.04 1.93 0.13 452.9 0.31
MX-C1 Main Extension 0.00 3.75 3.75 0.10 2.10 3.86 152.2 0.06
MX-C2 Main Extension 0.00 1.40 1.40 0.11 5.14 8.95 311.6 0.40

1Trench intercepts are historic and may not be representative of true width

Figure 1: Property Location, Geology, and Mineralized Zones

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9885/252765_5c0e3cf3b422294e_002full.jpg

‘The presence of multiple, mineralized zones along an over 1 kilometre trend indicates a significant VMS system,’ said Trumbull Fisher, Anteros CEO. ‘Specifically, the underexplored feeder-style alteration and high-grade gold-copper intervals of the Copper and Gold Zones have emerged as immediate exploration priorities.’

Next Steps

Building on the promising results to date, Anteros is planning a focused exploration program that includes:

  • Field verification of historical trench and drill collar locations to validate spatial accuracy
  • Integration of additional multi-element geochemistry into 3D models to refine and prioritize drill targets
  • Hyperspectral and induced polarization (‘IP’) surveying to image alteration halos and sulphide concentrations at depth
  • Diamond drilling of the Copper and Gold Zones, which remain largely untested despite returning high-grade trench results

About The Property

Strickland is held 100% by Anteros and is located approximately 85 kilometres south of Stephenville, within the Exploits Subzone of the prolific Dunnage Zone in central Newfoundland – an area renowned for hosting world-class VMS deposits. The Property hosts seven documented zones of copper (‘Cu’), lead (‘Pb’), zinc (‘Zn’), silver (‘Ag’), gold (‘Au’) mineralization along a 1.4 kilometre trend.

Mineralization at Strickland is interpreted to represent a bimodal-felsic (Kuroko-type) VMS system. Documented sulphide mineralization includes sphalerite, chalcopyrite, galena, and pyrite in high-grade polymetallic horizons-positioning the Property within the scope of Canada’s Critical Minerals Strategy.

In 1981, D.R. Prince of Falconbridge Nickel Mines Ltd. reported the following historical mineral inventories:

  • 260,000 tonnes at 195 g/t Ag and 5.25% combined Pb and Zn at the Main Zone,
  • 15,000 tonnes at 480 g/t Ag and 2% combined Pb+Zn at the Silver Hill Zone, and
  • 750,000 tonnes at 2% combined Pb+Zn at the Main Extension Zone

(Source: Falconbridge Nickel Mines Ltd., Internal Report, Geofile #011O/16/0139)

These estimates are considered historical in nature and were not prepared using current Canadian Institute of Mining, Metallurgy and Petroleum (‘CIM’) Definition Standards. A Qualified Person has not completed sufficient work to classify the historical estimates as current mineral resources, and Anteros is not treating them as current mineral resources. The Company considers these estimates relevant to the extent that they indicate the presence of significant mineralization and support continued exploration.

The reliability of the estimates is uncertain due to the age of the data, incomplete documentation of estimation methods, and the lack of modern QA/QC protocols. The original report does not provide specific cut-off grades, metal price assumptions, or a description of the estimation methodology. To verify or upgrade these estimates to current standards, Anteros would need to complete field validation of historic trench and drill collar locations, resample archived or in situ material using modern analytical methods, apply current QA/QC protocols, and complete a compliant geological model that supports estimation in accordance with CIM Definition Standards.

Since acquiring the Property in March 2022, Anteros has completed comprehensive digital compilation and geological modelling of historical data including airborne and ground geophysics, geological mapping, geochemistry, and over 7,000 metres of historical drilling and trenching.

More at www.anterosmetals.com/strickland.

Qualified Person

The technical content of this news release has been reviewed and approved by Jesse R. Halle, P.Geo., an independent Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

About Anteros Metals Inc.

Anteros is a multimineral junior mining company applying data science and geological expertise to identify and advance critical mineral opportunities in Newfoundland and Labrador. The Company is currently focused on advancing four key projects across diverse commodities and development horizons. Immediate plans for their flagship Knob Lake Property include bringing the historical Fe-Mn Mineral Resource Estimate into current status as well as commencing baseline environmental and feasibility studies.

For further information please contact or visit:

Email: info@anterosmetals.com | Phone: +1-709-769-1151
Web: www.anterosmetals.com | Social: @anterosmetals

On behalf of the Board of Directors,

Chris Morrison
Director

Email: chris@anterosmetals.com | Phone: +1-709-725-6520
Web: www.anterosmetals.com/contact

16 Forest Road, Suite 200
St. John’s, NL, Canada
A1X 2B9

Cautionary Statement Regarding Forward-Looking Information

This news release may contain ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company’s mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252765

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

President Donald Trump’s rallying speech to House Republicans Tuesday morning wasn’t enough to convince some holdouts to unite behind his ‘big, beautiful bill’ ahead of a planned vote this week.

Trump urged Republicans to cease infighting on Medicaid reform and state and local tax (SALT) deduction caps at the House GOP’s weekly conference meeting. Several Republicans who emerged said they were still concerned enough to oppose the bill, however.

House Freedom Caucus Chair Andy Harris, Rep. Eric Burlison of Missouri, Rep. Thomas Massie of Kentucky and representatives Nick LaLota, Mike Lawler and Andrew Garbino of New York told Fox News Digital Tuesday they would vote against the bill if changes were not made.

On the other hand, Trump did persuade some people. Rep. Ralph Norman of South Carolina, one of several Republicans to sink a committee vote on the bill Friday, told reporters he would review it and make a ‘judgment call’ ahead of a 1 a.m. meeting to advance the bill through the House Rules Committee.

Norman said Trump did a ‘fantastic job’ and delivered ‘one of the best speeches I’ve heard’ at the House GOP meeting, and he urged his blue state colleagues to ‘take the words the president said to heart about SALT.’

Norman and Rep. Chip Roy, R-Texas, are both members of the powerful rules panel who have not been shy about their concerns with the current bill. The committee acts as the final gatekeeper before most legislation sees a full House vote.

Roy did not appear to attend Trump’s speech but told reporters Monday evening the 1 a.m. Wednesday vote should be postponed.

But the New York Republicans weren’t budging after Trump’s ‘big, beautiful’ speech, maintaining the bill doesn’t go far enough to deliver for middle-class New Yorkers on the SALT deduction cap.

‘This is the single biggest issue that I’ve talked about, and, with all due respect to the president, I’m not budging,’ Lawler said. 

‘Between property taxes and income taxes, it blows well past the $30,000 cap with the $400,000 income cap. So, as I’ve said repeatedly, that is insufficient. We will continue the dialogue with leadership, but as it stands right now, I do not support the bill,’ Lawler said. 

Lawler said SALT is one of the biggest issues affecting his district in New York and campaigned on never supporting a tax bill that doesn’t ‘adequately lift the cap.’

‘The president can say whatever he wants, and I respect him, but the fact is, I certainly understand my district. I’m one of only three Republican members that won in a district Kamala Harris won, and I did so for reasons,’ Lawler said. 

‘We need a little more SALT on the table to get to this,’ fellow New York Republican LaLota added. ‘I hope the president’s presence motivates my leadership to give us a number that we can go sell back home.’

LaLota said while he is still a ‘no,’ he hopes ‘the president’s presence here today motivates some folks in the Ways and Means Committee and my leadership to give us a number to which we can actually say ‘yes.’’

When asked if Trump did enough to ease concerns in Tuesday’s meeting, Garbarino, another New York Republican, said, ‘No. There were no specifics. … It was more of a rally. We need to get this done.’

‘We share President Trump’s call for unity within the House Republican Conference,’ Rep. Young Kim, R-Calif., said in a joint statement after Trump’s visit to Capitol Hill. 

‘We hope his remarks today motivate the Speaker to advance a SALT proposal that delivers meaningful relief for our middle-class constituents, as we have worked in good faith with House Leadership for more than a year,’ the statement from Kim, Garbarino, Lawler, LaLota and Rep. Tom Kean, R-N.J., said.

Meanwhile, Trump urged Republicans not to ‘f— with’ Medicaid in his speech, though different factions came to different conclusions about what he meant.

Rep. Andy Ogles of Tennessee, who was not in the room for Trump’s speech, called for more cuts to the entitlement program in an X post Tuesday afternoon but told Fox News Digital he was opposed to the legislation as written.

‘I agree with President Trump — we must crush the waste, fraud, and abuse. Liberal states like California and New York are abusing Medicaid — and making you pay for it. Illegal aliens and freeloaders have no right to taxpayer-funded benefits,’ Ogles said on X.

Other fiscal conservatives, like Ogles, who were in the room, said the bill does not go far enough to reform Medicaid and would also vote ‘no’ in the bill’s current form. 

‘I think it’s inappropriate for us to say we’re not going to touch it and then leave all of this fraud that’s happening in the system,’ Burlison said. 

Harris, the House Freedom Caucus chair, said, ‘I can’t support the bill. It does not eliminate waste, fraud and abuse in Medicaid. The president called for waste, fraud and abuse to be eliminated. I don’t think that’s where the bill sits.’

Massie, known for being a libertarian, was unconvinced by Trump’s appearance, telling reporters that his constituents didn’t ‘vote for increased deficits and Biden-level spending.’

He acknowledged that younger members or those who harbor ambitions for higher office would likely fall in line, however.

‘I think he probably closed the deal in there,’ Massie said. 

SALT deduction caps and Medicaid remain two of the biggest sticking points in Republican negotiations. SALT deduction caps primarily benefit people living in high-cost-of-living areas like New York City, Los Angeles and their surrounding suburbs. Republicans representing those areas have argued that raising the SALT deduction cap is a critical issue and that a failure to address it could cost the GOP the House majority in the 2026 midterms.

Republicans in redder, lower-tax areas have said in response that SALT deductions favor wealthy people living in Democrat-controlled states and that such deductions reward progressive high-tax policies.

It was Trump’s Tax Cuts and Jobs Act of 2017 that first instituted caps on SALT deductions, setting the maximum at $10,000 for both married couples and single filers.

SALT Caucus members have rejected House Republican leaders’ offer to increase that to $30,000.

Members of the conservative House Freedom Caucus, meanwhile, are pushing for the bill to be more aggressive in cutting waste, fraud and abuse in the Medicaid system, including a faster timeline for implementing work requirements for able-bodied recipients. Currently, the legislation has work requirements kicking in 2029.

They also want to restructure Medicaid cost-sharing to put a bigger burden on the states. Moderates, meanwhile, have been wary of making significant cuts to the program.

House GOP leaders are hoping to hold a full House vote on the bill this week.

This post appeared first on FOX NEWS

President Donald Trump and Defense Secretary Pete Hegseth announced the U.S. will soon begin construction of a ‘Golden Dome’ missile defense system they say will be a next-generation ‘game changer’ protecting the American homeland from outside adversaries.

A similar system, the Iron Dome, has already been developed in Israel with U.S. assistance and has proven effective in repelling missile attacks. Now. Trump says a bigger, more technologically advanced, multi-layered dome system will soon be installed in America.  

The president announced the ‘one big beautiful’ budget bill being discussed in Congress will include $25 billion in initial funding for the project, which he expects will cost $175 billion overall. He said he expects a major phase of the dome will be complete in under three years and that it will be ‘fully operational before the end of my term.’

He noted there is significant support for the project in Congress, quipping, ‘It’s amazing how easy this one is to fund.’

‘In the campaign, I promised the American people that I would build a cutting-edge missile defense shield to protect our homeland from the threat of foreign missile attack. And that’s what we’re doing today,’ he said, adding that the Golden Dome ‘will be capable of intercepting missiles even if they are launched from the other side of the world and even if they are launched from space.’

Trump also announced he is placing Space Force Gen. Michael Guetlein in charge of the project, saying, ‘No one is more qualified for this job.’

Hegseth called the Golden Dome a ‘bold initiative’ and another addition to Trump’s ‘long and growing list of promises made and promises kept.’

He said investing in the new system is essential to respond to growing threats from countries like Russia and China.

‘Ultimately, this right here, the Golden Dome for America, is a game changer,’ said Hegseth. ‘It’s a generational investment in the security of America and Americans.’

Addressing Trump, Hegseth said, ‘Mr. President, you said we’re going to secure our southern border and get 100% operational control after the previous administration allowed an invasion of people into our country. President Reagan 40 years ago cast the vision for it. The technology wasn’t there. Now it is, and you’re following through to say we will protect the homeland from cruise missiles, ballistic missiles, hypersonic missiles, drones, whether they’re conventional or nuclear.’

Guetlein indicated the Golden Dome is necessary to preserve the safety, security and the quality of life Americans are used to.

‘We owe it to our children and our children’s children to protect them and afford them a quality of life that we have all grown up enjoying. Golden dome will afford that,’ said Guetlein.

The general said ‘our adversaries have become very capable and very intent on holding the homeland at risk.’

‘While we have been focused on keeping the peace overseas, our adversaries have been quickly modernizing their nuclear forces, building up ballistic missiles capable of hosting multiple warheads, building out hypersonic missiles capable of attacking the United States within an hour and traveling at 6,000 miles an hour, building cruise missiles that can navigate around our radar and our defenses, building submarines that can sneak up on our shores and, worse yet, building space weapons,’ Guetlein said. 

‘It is time that we change that equation and start doubling down on the protection of the homeland.’

This post appeared first on FOX NEWS

House Speaker Mike Johnson has reached a tentative deal with blue state Republican lawmakers to boost the cap on state and local tax deductions, or ‘SALT,’ to $40,000 in President Donald Trump’s so-called ‘big, beautiful bill,’ Republican sources confirmed to Fox News late Tuesday. 

The proposed cap – which is up from $30,000 – would be per household for taxpayers making less than $500,000 per year. 

 It remains unclear whether GOP hardliners who oppose raising the SALT cap deductions will sign off on the measure. 

The tentative agreement, first reported by Politico and confirmed by Fox News, comes as House GOP factions have been engaged in high-stakes debates on taxes, Medicaid, and green energy subsidies while crafting the president’s ‘big, beautiful bill.’

SALT deduction caps primarily benefit people living in high-cost-of-living areas like New York City, Los Angeles, and their surrounding areas. 

Republicans representing those areas have framed raising the SALT deduction cap as an existential issue, arguing that a failure to address it could cost the GOP the House majority in the 2026 midterms. 

Meanwhile, Republicans representing lower-tax states are largely wary of raising the deduction cap, believing that it incentivizes blue states’ high-tax policies. 

Fox News Digital’s Elizabeth Elkind contributed to this report. 

This post appeared first on FOX NEWS

The U.S. Senate has passed a new bill that would offer a tax deduction on tips worth up to $25,000.

This bill, if enacted into law, would also extend to business tax credits for payroll taxes on tips in beauty and spa services.

Sen. Ted Cruz, a Texas Republican, is pushing the proposal – which passed unanimously – an outcome considered rare for substantive legislation.

There are stipulations in the new bill: an employee with compensation exceeding $160,000 in the prior tax year would not be eligible to claim the new tax deduction for tips.

The bill is limited to cash tips received by occupations that are customarily tipped. 

‘Tipped occupations’ are jobs where tips are common in the U.S., such as waiters, waitresses and professionals providing beauty services like barbering, hair care, nail care, esthetics, body and spa treatments.

The Budget Lab at Yale say they estimate there will be approximately 4 million workers in tipped occupations in 2023. 

They must also be reported by the employee to the employer for withholding payroll taxes. Under the current law, only tips exceeding $20 per month are required to be reported.

According to the report by Budget Lab, a non-tipped worker in 2023 was a minimum of approximately 10 years older than the typical tipped worker.  They also say one-third of the number of tipped workers were below 25, with 13% being teenagers.

This new bill, if passed, would cost $110 billion in federal revenues over 10 years, according to estimates by the center-right Peter G. Peterson Foundation.

Sen. Jacky Rosen, D-Nevada, pointed out during her floor speech that this bill was one of President Donald Trump’s key campaign promises.

‘I am not afraid to embrace a good idea, wherever it comes from. So I agreed we need to get this done,’ she said.

The passing of this bill through the Senate occurs as congressional Republicans attempt to seek advancement of a massive tax cut and spending package that will create a tax break on tips for the next four years.

The next step is the House of Representatives before it becomes law.

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House Speaker Mike Johnson has reached a tentative deal with blue state Republican lawmakers to boost the cap on state and local tax deductions, or SALT, to $40,000 in President Donald Trump’s so-called ‘big, beautiful bill,’ Republican sources confirmed to Fox News late Tuesday. 

The proposed cap – which is up from $30,000 – would be per household for taxpayers making less than $500,000 per year. 

 It remains unclear whether GOP hardliners who oppose raising the SALT cap deductions will sign off on the measure. 

The tentative agreement, first reported by Politico and confirmed by Fox News, comes as House GOP factions have been engaged in high-stakes debates on taxes, Medicaid, and green energy subsidies while crafting the president’s ‘big, beautiful bill.’

SALT deduction caps primarily benefit people living in high-cost-of-living areas like New York City, Los Angeles, and their surrounding areas. 

Republicans representing those areas have framed raising the SALT deduction cap as an existential issue, arguing that a failure to address it could cost the GOP the House majority in the 2026 midterms. 

Meanwhile, Republicans representing lower-tax states are largely wary of raising the deduction cap, believing that it incentivizes blue states’ high-tax policies. 

Fox News Digital’s Elizabeth Elkind contributed to this report. 

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