This article is adapted from today’s Morning Wire Afternoon Update. To listen to the podcast version, click here.
Target has seen an 8.5% drop in its market value over the past week — equaling $6 billion in market capitalization. This comes as the national retailer faces a boycott from conservative and Christian groups over its controversial “Pride collection” featuring an array of products targeting young children.
President Biden vetoed a bipartisan bill on Thursday which would have nullified the Washington, D.C., Council’s 2022 criminal justice reform act. Senate critics say that the D.C. act is soft on crime and weakens police power while endangering Americans who visit D.C. The Senate recently voted 53-46 to nullify it and keep in certain police protections and criminal punishments. However, the president’s veto of that Senate bill now allows D.C.’s reform amendment to proceed. In a statement sent to The Daily Wire, Senator J.D. Vance of Ohio blasted the president, saying that residents, tourists, and D.C. metro police “deserve far better,” while adding the veto “is a shame.”
Congressional Republicans have called upon FBI Director Christopher Wray to brief them on the progress of the investigation into the January 6 pipe bomber. The letter indicates that FBI whistleblowers believe that the bureau has information relating to a metro swipe card used by the alleged bomber, as well as a potential license plate number. One former FBI agent told Congressman Jim Jordan (R-OH) that it just “doesn’t add up” why the federal government has not identified this man yet.
The credit of the United States is in danger of being downgraded. Two credit rating agencies placed the U.S. on a “negative watch” over the debt ceiling negotiations between President Biden and House Speaker Kevin McCarthy (R-CA).
Fitch Ratings, considered one of the three most influential credit rating agencies in the nation, said Wednesday evening that the triple-A rating currently held by the U.S. could be reconsidered because of “increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit.” The firm did say it anticipates that the debt ceiling will be amended before the estimated deadline.
The U.S. Supreme Court issued a 9 – 0 decision today that restricts the power of the Environmental Protection Agency to control underground water. A couple in Idaho argued that they should have the right to construct a home on an empty lot near a lake. After a 15-year battle with the EPA, the high court agreed that the EPA does not control underground water and wetlands that are not contiguous with permanent standing bodies of water. This effectively ends the Biden administration’s definition of “waterways,” which was first implemented by President Barack Obama, only to be repealed by the Trump administration.
The founder and leader of the Oath Keepers, Stewart Rhodes, was sentenced to 18 years in prison for his actions relating to the January 6 riot. Rhodes was convicted of seditious conspiracy on November 22. Federal prosecutors originally asked for 25 years. Authorities have now charged more than 1,000 people over the riot.
On Thursday, the Supreme Court ruled in favor of Geraldine Tyler, a 94-year-old Minnesota grandmother who claims the state seized her condo and sold it for a profit over an unpaid tax debt. Tyler owed the government 15k in property taxes plus interest and penalties. The state seized and sold her home for 40k, pocketing the proceeds, a maneuver that civil rights activists call “equity theft.” The Court unanimously sided with Tyler.
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