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Here are the headlines you Need2Know for Tuesday, March 29, 2022:
BIDEN PROPOSES BUDGET
President Joe Biden unveiled a $5.8 trillion budget, highlighted by an increase in defense spending and an emphasis on trimming the federal deficit. Biden is calling for a hefty 4% increase in total defense spending – up to $813 billion – which includes funding directed toward Ukraine. Additionally, the DOJ will get $17.4 billion, if passed, to combat violent crimes here in the U.S. So, there’s the spending; but where is the deficit-cutting savings coming from? Taxes for the ultra-wealthy (the Billionaire Minimum Income Tax we mentioned yesterday). The president's budget request isn't final - not by a long shot - but seen as more of a jumping off point for negotiations with Congress. CHEDDAR
JUDGE: TRUMP LIKELY COMMITTED CRIMES
U.S. District Court Judge David Carter ruled it is “more likely than not” that former President Donald Trump attempted to obstruct Congress’ joint session on January 6, 2021. The judge is now ordering the release of 101 emails from John Eastman, Trump’s adviser whom the former president consulted with. Eastman has been trying to withhold documents from the committee, claiming attorney-client privilege. Now it's up to the DOJ to decide whether any charges are warranted. Meanwhile, the House committee investigating the insurrection voted to encourage the full House to hold two other Trump aides, Peter Navarro and Dan Scavino, in contempt for defying its subpoenas. CBS NEWS
UKRAINE LATEST
As the two sides meet for talks in Turkey today, Ukraine is claiming that it has clawed back some of its territory near Kyiv. Biden stood by his assertation that Putin shouldn't remain in power, but said he was saying it from a position of moral outrage, not a policy change. Meanwhile, new accusations are coming for both sides, with the suspected poisoning of Ukrainian negotiators at talks held earlier this month and Russian forces alledging their members were tortured while they were held as POWs. NY TIMES
‘DON’T SAY GAY’ BILL SIGNED
Florida Governor Ron DeSantis has signed the controversial “Don’t Say Gay” bill, formally known as Florida’s HB 1557, which bans classroom instruction on sexual orientation or gender identity in kindergarten through third grade. The bill, which will go into effect in July, has gotten blowback from critics across the country for its potential to marginalize LGBTQ+ children in schools. Supporters of the bill say that the discussion of sexual orientation and gender identity should be left up to parents. Disney, familiar to every child and also an influential employer in Florida, publicly opposed the law after an outcry from its staff and says it will make efforts to help repeal the legislation. THE HILL
TESLA STOCK SPLIT
Tesla CEO Elon Musk is requesting shareholder approval to split the company’s stock. The company’s last split was in August of 2020 and shares have more than doubled since that 5-for-1 split took effect. In the past year, the stock has risen more than 75%. In other Elon Musk news (because there's always more Elon Musk news), the world’s richest man announced he has Covid and is asymptomatic. Also, Tesla halted production in Shanghai for reasons related to the virus, but none of this is negatively affecting the company’s stock, which had a strong start to the week. CHEDDAR
Split the split, then maybe we can buy a share.
WALMART CUTS CIGARETTE SALES
Walmart is removing tobacco products from some of its stores in California, Florida, Arkansas and New Mexico. While cigarettes will still be sold in much of the country, this move jives with the megastore's efforts to shift deeper into the healthcare space. In 2019 the chain opted to only sell tobacco products to customers 21 or older (before it became federal law) and halted e-cigarette sales completely. Walmart is relatively late to the no-smoking party compared to competitors like Target and CVS, which cut off these products in 1996 and 2014 respectively. A Walmart spokesperson said removing tobacco products from the shelves will make shoppers’ experience more efficient, clearing the way for more self-checkout registers and grab-and-go food options. WSJ
OSCARS UPDATE
THE SLAP: The Academy has launched a formal review of Will Smith’s assault of Chris Rock, saying it condemns Smith’s actions and will explore consequences for the Best Actor winner. The Academy states it is “categorically opposed to any form of abuse” in its official code of conduct. Meanwhile, Smith apologized to Rock in an Instagram post, saying his behavior was unacceptable. The post also included an apology to the Academy (again) and the rest of the King Richard film family. THE WRAP
THE RATINGS: Up a whopping 56% from last year’s show, the Oscars garnered over 15 million viewers in what was turned out to be a drama-filled evening. This is welcome news for the Academy, which had record-low viewership last year. Awards show viewership has been declining over the past decade.
VARIETY
NEW NFL STADIUMS
The Buffalo Bills are getting a new, $1.4 billion stadium and they may not be the only ones. New York taxpayers will contribute $850 million for construction, which has certainly drawn some criticism but will keep the team in Orchard Park in a 30-year deal. The franchise is, of course, owned by a billionaire, but the open-air, 62,000-seat stadium will be owned by the state. The Washington Commanders may also soon get a new arena as the Virginia legislature gets ready to vote on a proposal for a $3 billion stadium on April 4. BUFFALO NEWS
Now THAT’s a Buffalo bill.
DEADLY PENNSYLVANIA PILEUP
As many as 60 vehicles were involved in a pileup on I-81 in Pennsylvania yesterday. Heavy fog, snowy conditions, and slippery roads sent cars and trucks skidding into one another, killing at least three people and a number of injuries. Videos posted to social media show some vehicles catching on fire and smoke visible from miles away. Crews are still working to clean up the scene. WGAL
GOOGLE CHROME HACK
Are you reading this on Google Chrome? If so, Google wants you to update your browser immediately. The tech titan announced that Chrome users are vulnerable to a highly-dangerous “zero-day” hack, meaning that hackers were aware of the vulnerability before Google can make a fix. Few details have been released about how the billions of Chrome users could be affected by the security flaw, but Google said in a blog post that “access to bug details and links may be kept restricted until a majority of users are updated with a fix.” Those who use Microsoft Edge and Amazon Silk also may be affected, so users of those platforms are advised to check for updates as well. FORBES
CHEDDAR EXPLAINS
With ongoing supply chain issues and war in Ukraine, inflation is likely here to stay. This is the first time many younger people will experience consistent inflation as working adults, so this video breaks it down using candy (for fun!). YOUTUBE
Need2Know Podcast Note: The Need2Know podcast is taking a break for now. We're looking forward to bringing you more context and analysis on the big stories of the day in a few weeks. In the meantime, check out our archive on Apple or Spotify, or watch on YouTube, and send us your feedback!
