Today in One Sentence. The U.S. launched “self-defense strikes” against Iran after Trump accused Tehran of shooting down a U.S. Army Apache helicopter near the Strait of Hormuz; House Republicans passed the $70 immigration enforcement bill to fund to fund ICE and Border Patrol through the rest of Trump’s term; Social Security’s retirement trust fund is now expected to run of money in 2032, forcing an automatic 22% cut in retiree and survivor benefits to more than 68 million beneficiaries unless Congress acts; Trump and his family collected at least $2.3 billion from four crypto ventures while investors in those products lost roughly $2.3 billion; and Trump became the first sitting president to attend an NBA Finals game, as well as the first president to be booed at an NBA Finals game.

1/ The U.S. launched “self-defense strikes” against Iran after Trump accused Tehran of shooting down a U.S. Army Apache helicopter near the Strait of Hormuz. Central Command called the strikes a “proportional response to unjustified Iranian aggression,” but provided no targets, damage assessment, or evidence that Iran deliberately shot down the helicopter. Trump had earlier claimed Iran “shot down” the aircraft and said “the United States must, of necessity, respond to this attack.” U.S. officials, however, said an Iranian drone brought down or collided with the aircraft while the military’s formal investigation was still ongoing. Iran, meanwhile, didn’t claim responsibility, but Foreign Minister Abbas Araghchi warned that forces near Iranian territory were at risk from “human errors, plain accidents, or potentially being caught in crossfire,” adding that the “best solution is for them to leave.” The two crew members were rescued by a Navy surface drone, the first known U.S. military rescue of its kind. (New York Times / Washington Post / Associated Press / Wall Street Journal / Politico / Axios / Bloomberg / NBC News)

2/ House Republicans passed the $70 immigration enforcement bill to fund to fund ICE and Border Patrol through the rest of Trump’s term. Republicans passed it 214-212 using reconciliation to bypass Democrats and end the monthslong standoff that began after immigration agents fatally shot two Americans in Minnesota. Democrats had demanded changes to immigration enforcement tactics, including warrants before entering homes, limits on masks, and more oversight. The final bill, however, doesn’t include those demands. It also dropped Trump’s proposed $1 billion in White House security and ballroom funding, but leaves out restrictions on his proposed $1.8 billion “anti-weaponization” fund. (NBC News / Politico / New York Times / CNN / NPR / Reuters / Wall Street Journal / Washington Post)

3/ Social Security’s retirement trust fund is now expected to run of money in 2032, forcing an automatic 22% cut in retiree and survivor benefits to more than 68 million beneficiaries unless Congress acts. The fund is projected to be depleted one quarter sooner than last year’s forecast, leaving enough money to cover 78% of scheduled benefits. The trustees said Trump’s One Big Beautiful Bill Act reduced taxes paid on Social Security benefits, which normally flows back into Social Security and Medicare, while lower fertility and reduced immigration mean fewer workers are paying into the system. Trump, nevertheless, has vowed not to cut benefits, but Congress would still need to raise taxes, cut benefits, borrow more, or some combination to prevent the reduction. (CNN / Washington Post / Reuters / Associated Press / New York Times / NPR / Wall Street Journal)

4/ Trump and his family collected at least $2.3 billion from four crypto ventures while investors in those products lost roughly $2.3 billion. In all four deals, the Trump family promoted crypto products, risked little or none of their own money, and then got paid through licensing, revenue-sharing, or equity arrangements. Buyers, however, absorbed the downside. World Liberty Financial sent more than $1.6 billion to the Trumps, while its token fell from 46 cents to about 6 cents with most holders locked out of selling until 2030. Alt5 Sigma raised $750 million from investors, bought World Liberty tokens, and then routed roughly $500 million to the Trump family. The company, now AI Financial, has since lost more than 90% of its stock value and warned that there is “substantial doubt” it can keep operating. Nevertheless, the White House said “there are no conflicts of interest,” and World Liberty called itself “a private American financial technology company, not a political organization.” (CNBC / Reuters)

5/ Trump became the first sitting president to attend an NBA Finals game, as well as the first president to be booed at an NBA Finals game. When Madison Square Garden showed him on the jumbotron during the national anthem before Game 3, fans loudly booed and the camera cut away. Trump later claimed it was “loud”, “mostly cheers”, and “very enthusiastic,” while also calling the NBA “a little left wing” but “great.” The Knicks went on to lose their first Finals home game since 1999, while snapping a 13-game win streak. (Associated Press / New York Magazine / Vanity Fair / New Yorker / New York Times / ESPN / The Athletic / New York Post / Wall Street Journal)

The 2026 midterms are in 147 days; the 2028 presidential election is in 882 days.