Today in one sentence: Trump’s $4.5 trillion tax and spending bill stalled in the House as Republican leaders struggled to secure enough votes amid opposition from both conservatives and moderates; a federal judge blocked Trump’s attempt to shut down asylum claims at the southern border; the Wisconsin Supreme Court struck down the state’s 1849 abortion ban; the U.S. reached a preliminary trade deal with Vietnam that will impose a 20% tariff on Vietnamese imports; Paramount agreed to pay Trump $16 million to settle a lawsuit over the editing of a 2024 “60 Minutes” interview with Kamala Harris; and Trump blocked nearly $7 billion in federal school funding days before the academic year begins, impacting after-school programs, English-language support, and teacher training.

1/ Trump’s $4.5 trillion tax and spending bill stalled in the House as Republican leaders struggled to secure enough votes amid opposition from both conservatives and moderates. The Senate version – passed 51-50 with JD Vance breaking the tie – increased tax breaks, added $3.4 trillion to the debt over a decade, and leave over 17 million without health insurance. The Tax Policy Center projected the top 20% of earners would receive tax cuts nearly 70 times larger than the bottom 20%. House Republicans objected to the Senate’s deeper Medicaid provider cuts, which rural members said would threaten hospital funding, and to the removal of spending caps tied to the bill’s new tax breaks. They also criticized the stripped-down immigration provisions and expanded clean energy tax credit timeline. “Our bill has been completely changed,” Rep. Ralph Norman said. “This bill’s a nonstarter.” Nevertheless, Speaker Mike Johnson and Trump held hours of closed-door meetings with Republican holdouts, while the House froze in place during a procedural vote that remained open for most of the day. “We are going to get this done,” Rep. Richard Hudson said. “Trump is the best closer.” Democrats, unanimously opposed, warned the bill would cut food aid, close hospitals, and “slash Medicaid and SNAP to fund tax cuts for billionaires.” House Minority Leader Hakeem Jeffries said the bill would “hurt children, hurt families, hurt seniors, and hurt everyday Americans with disabilities.” (Washington Post / New York Times / Politico / CNN / Associated Press / NPR / NBC News / Bloomberg / Wall Street Journal / Axios / ABC News)

2/ A federal judge blocked Trump’s attempt to shut down asylum claims at the southern border, saying Trump can’t “adopt an alternative immigration system” by declaring an “invasion.” U.S. District Judge Randolph Moss ruled that neither the Immigration and Nationality Act nor the Constitution give Trump “the sweeping authority” to unilaterally prevent people who cross the southern border between “ports of entry” from seeking asylum or invoking other legal protections to temporarily remain in the U.S. The decision applies nationwide, though it’s paused for 14 days to allow for appeal. The court certified the case as a class action, effectively sidestepping the recent Supreme Court ruling against broad injunctions. The White House vowed to appeal, calling the ruling “an attack on our Constitution” and saying a “local district court judge” has no power to stop Trump from securing the border. (Politico / CNN / Washington Post / New York Times / CBS News)

3/ The Wisconsin Supreme Court struck down the state’s 1849 abortion ban. In a 4-3 ruling, the justices said newer laws “so thoroughly” regulate abortion that they “were meant as a substitute” for the 1849 statute without formally repealing it. The court also threw out a separate lawsuit that sought to establish abortion as a constitutional right in Wisconsin. (NPR / NBC News / Associated Press / New York Times)

4/ The U.S. reached a preliminary trade deal with Vietnam that will impose a 20% tariff on Vietnamese imports, as well as a 40% tariff on goods shipped through Vietnam from other countries. In return, Vietnam agreed to drop all tariffs on U.S. exports, giving what Trump called “TOTAL ACCESS to their Markets for Trade.” Trump claimed “Vietnam will pay the United States a 20% Tariff,” though U.S. importers will bear the cost. The deal came days before Trump’s July 9 deadline to secure “fair and reciprocal” deals with nearly 90 countries in 90 days. So far, the administration has signed three: the U.K., China (a framework deal), and Vietnam. (New York Times / Associated Press / CNBC / NPR / Washington Post / Bloomberg)

5/ Paramount agreed to pay Trump $16 million to settle a lawsuit over the editing of a 2024 “60 Minutes” interview with Kamala Harris. The company said it wouldn’t apologize and denied wrongdoing, but the deal includes future release of transcripts for interviews with presidential candidates. CBS journalists condemned the settlement, calling it “cowardly capitulation” that undermines press freedom. Sen. Elizabeth Warren called the payout “bribery in plain sight” and demanded an investigation, citing Paramount’s pending merger with Skydance, which needs approval from a Trump-led FCC. Trump’s team said the deal proves he “holds the Fake News media accountable.” (Associated Press / Washington Post / NBC News / New York Times)

6/ Trump blocked nearly $7 billion in federal school funding days before the academic year begins, impacting after-school programs, English-language support, and teacher training. The Education Department told states the funds were “under review” and gave no timeline for release. The Office of Management and Budget claimed some programs “grossly misused” funds to support a “radical leftwing agenda,” including undocumented students and LGBTQ-related programming. School officials and advocates warned the move could force layoffs, cancel programs, and leave low-income families without basic support. (ABC News / New York Times / Washington Post / Politico)

The midterm elections are in 489 days.

Six years ago today: Day 894: Surreal.
Seven years ago today: Day 529: Art of the FART.