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Trump: ‘NO INTENTION OF SELLING’ $3.5B stake in Trump Media

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President-elect Donald Trump is doubling down on his plans to hold on to his roughly $3.5 billion stake in the parent company of Truth Social, just days after winning back the White House.

In a social media post, Trump, who is the company’s majority shareholder, said Friday he has “NO INTENTION OF SELLING” his nearly 115 million shares. He added that there have been “fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth,” which he rejected.

“THOSE RUMORS OR STATEMENTS ARE FALSE,” Trump said on Truth Social. “I hereby request that the people who have set off these fake rumors or statements, and who may have done so in the past, be immediately investigated by the appropriate authorities.”

Now a major source of his estimated $5.6 billion fortune, Trump’s stock in the company — Trump Media & Technology Group — poses a new and potentially complicated element of the president-elect’s business empire as he prepares to head back to Washington.

The stock has drawn concern from ethics watchdogs, who worry that corporate interests or foreign actors could try to use Truth Social to curry favor with Trump by either buying ads on the platform or investing in the stock.

Trump Media has struggled to generate much business, despite its hefty valuation of $6.5 billion. On Tuesday night, before polls closed across the country, the company reported a $19.2 million net loss for the three months ended Sept. 30. Trump Media generates its revenue from advertising on Truth Social.

Spokespeople for the Trump campaign did not immediately respond to a request for comment about how Trump plans to handle the stock once in office.

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Congress

Capitol agenda: Shutdown odds spike after Minnesota killing

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The killing of Alex Pretti at the hands of federal agents is hitting hard on Capitol Hill, ratcheting up the odds of a partial government shutdown and spurring Republican lawmakers to make another break with the Trump administration.

Here’s the latest on how the fallout from the Minnesota shooting is playing out in Congress:

— Shutdown looks likely: The Senate is set to take its first vote on the last tranche of government funding bills Thursday, and things aren’t looking good.

Senate Minority Leader Chuck Schumer is insisting that Republicans work across the aisle to rewrite DHS funding legislation but also signaling that Democrats would be willing to help advance the other five pending appropriations bills in the meantime. Several Democrats who helped end the previous shutdown say they plan to vote against the funding bills unless there are changes to the ICE operation in Minnesota.

At this stage, Senate GOP leadership expects to move forward as planned on the six-bill package including DHS. Republicans and the White House have reached out to Senate Democrats about how to proceed, but one Senate Democratic leadership aide granted anonymity said they haven’t raised “realistic solutions.” A number of rank-and-file Senate Republicans are speaking out against any attempt to “defund” DHS — and leadership would need buy-in from all 100 senators to quickly strip out the DHS bill. President Donald Trump is now pushing Republicans to pass a bill to “END Sanctuary Cities.”

A couple key reminders: The pending funding bills include money for the departments of Defense, Health and Human Services and State, and account for more than 75 percent of federal discretionary spending.

And don’t forget the House is out this week and wouldn’t be around to pass any revamped funding bills before Friday. The Senate won’t hold its first vote of the week until Tuesday afternoon because of the snow storm.

— Trump faces nervous GOP: A growing number of House and Senate Republicans are voicing public concerns about the incident and calling for an investigation, as top administration officials defend the agents involved.

Even close Trump allies are beginning to speak out. Sen. David McCormick (R-Pa.) said on X Sunday night that he supports the Border Patrol and ICE but that he agrees with the NRA about the need for a “full investigation.”

House Homeland Security Chair Andrew Garbarino (R-N.Y.) is calling for DHS officials to testify. House Oversight Chair James Comer (R-Ky.) suggested to Fox News that Trump would want to “maybe go to another city” as Minnesota officials push back.

Some Republicans have been privately warning administration officials and GOP leaders for months that Trump’s immigration crackdown is not going over well in some pockets of the country.

“Many of us wonder if the administration has any clue as to how much this will hurt us legislatively and electorally this year,” said one House Republican.

Jordain Carney and Meredith Lee Hill contributed to this report.

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Fiscal hawks set out to kill earmarks. They are very much alive.

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Fiscal conservatives in Congress threatened for months to block government funding if GOP leaders didn’t shun earmarks. They succeeded in scrapping just one; the rest, almost $16 billion worth, are slated in the package the Senate needs to clear by Friday to avoid a shutdown.

Republican hard-liners on both sides of the Capitol have made things difficult this winter for their leadership, which has been scrambling to fund the government before cash runs out Friday for the vast majority of federal agencies. But they failed to significantly curtail the practice of directing federal dollars to specific projects back home.

Republicans swore off earmarks for more than a decade in 2010 amid corruption scandals and demands from conservatives empowered by the rise of the Tea Party movement that has since receded. Then in 2021, Democrats brought back the practice after the party swept control of the White House and Congress, softening the return with a rebrand as “community project funding,” new rules to prevent abuse and a cap at 1 percent of funding.

Now Republicans run Washington once again, and they’re overwhelmingly embracing the renaissance. As the Senate considers a nearly $1.3 trillion funding package this week loaded with thousands of earmarks for projects in specific congressional districts, fiscal hawks are acknowledging defeat.

“When a majority of the United States House and a large chunk of the Senate seemingly want to advance earmarks, there’s only so much you can do,” Rep. Chip Roy (R-Texas), a member of the House Freedom Caucus, said in an interview.

“I’ve long stated I think it’s the currency of corruption, and we shouldn’t do it,” he added. “But, you know, members like to do it.”

Capitol Hill’s most vocal earmark proponents argue that, if not for the revival of earmarks, congressional leaders would not have succeeded in clinching bipartisan deals to fund the Pentagon and nondefense agencies with new budgets for the first time in almost two years.

The multibill funding package has yet to reach President Donald Trump’s desk and is now complicated by Democratic outrage over ICE funding after a federal immigration enforcement agent fatally shot another U.S. citizen in Minnesota over the weekend. But lawmakers in both parties are already touting the cash they secured for local projects as they campaign for reelection nine months out from the midterms.

“It’s not worth being in Congress if you can’t find ways to help your district,” Rep. Mike Flood said in an interview.

The Nebraska Republican secured almost $30 million in projects for his district in the current slate of funding bills, including millions of dollars to repave roads, about $750,000 for police cruisers and $500,000 for improvements to a shelter for minors who would otherwise be in juvenile detention.

Flood argues the inclusion of earmarks ultimately helped Republicans negotiate funding bills that keep federal spending mostly steady — a top priority of congressional fiscal hawks. “For all the things that people say are wrong with Congress, this process is working. And it’s working well,” he said. “And we are bringing this in under budget.”

This month members of the House Freedom Caucus threatened to tank a preliminary vote on spending bills if GOP leaders didn’t knock out at least some earmarks. They were able to kill only one: a $1 million earmark Democratic Rep. Ilhan Omar secured for a community organization in her Minnesota district, in part because the address listed for the group was that of a restaurant.

House fiscal hawks made a final stand last week when they demanded, and received, a vote to nix hundreds of earmarks senators had worked to secure. That vote failed overwhelmingly, right before the House passed a funding package with a price tag of more than $1 trillion, with every earmark intact.

Rep. Ralph Norman, a member of the Freedom Caucus, said it was a “sad day” and called it “irredeemable” for a GOP-led Congress and White House to support the earmark-filled package. Norman said he now has no hope Republicans will ever do anything to get rid of earmarks.

“I wish it was different,” he said.

More than 70 House Republicans voted against killing the Senate earmarks. However, some hard-liners argue that it’s really the minority party driving the resurgence in a narrowly divided Congress.

“You need Democratic votes, right? So let’s not forget that,” said Rep. Scott Perry (R-Pa.), a former chair of the House Freedom Caucus. “I’m not here to apologize for, or validate, a bunch of garbage Republican earmarks. But we’d have a much better time at making sure those didn’t prevail if we didn’t need the Democrat votes.”

In the Senate, where Democratic buy-in is necessary to overcome the filibuster, fiscal conservatives delayed action on funding bills for more than a month following the end of the record-breaking government shutdown in November — in part due to their earmark concerns. Now that the final slate of funding bills is before the Senate, those same lawmakers are again demanding a vote to eliminate the pet projects.

Last week Sen. Rick Scott (R-Fla.), a leader of that charge, noted that in 2021 the Senate Republican Conference voted unanimously to maintain their rule against earmarks, a nonbinding prohibition many GOP senators were quick to flout.

“It’s time for Senate Republicans to follow our own rules. END ALL EARMARKS NOW!” Scott posted on social media.

The earmarks Congress has inserted in the new funding bills are the first of Trump’s presidency, since federal agencies have been running on stopgap funding patches for almost two years. Lawmakers in both parties see them as a way to protect their authority to dictate how federal money is spent as the Trump administration continues to shift and cancel billions of dollars in contravention of their wishes.

“It restores the institutional faith in Congress’ ability — albeit in a very small and minor way — to direct congressional spending and gets power back from any executive branch,” Tennessee Rep. Chuck Fleischmann, a senior Republican appropriator, said in an interview.

Many Republican lawmakers have been privately pressing GOP leaders to bring back earmarks for years, including as far back as 2016, when then-Speaker Paul Ryan halted a closed-door vote on restoring the practice.

At least under the old rules, earmarks were entwined with corruption. In the early 2000s, several lawmakers pled guilty to money laundering and bribery charges for abusing the practice. In the most high-profile of those cases, the late Rep. Randy “Duke” Cunningham (R-Calif.) admitted to accepting $2.4 million in bribes to secure earmarks.

Now Congress has much tighter rules governing the process, including a prohibition on steering money to for-profit organizations. Senior members of the Appropriations Committees who want to avoid a repeat of infamous earmarks scandals also closely vet the requests, said House Appropriations Chair Tom Cole (R-Okla.).

“We scrub them pretty hard, and honestly the Democrats do, too,” he said.

In a sign House Republicans are growing more comfortable with the practice, they are now discussing whether to expand earmarks in future funding bills to include education, health and labor projects, according to Rep. Robert Aderholt (R-Ala.), who chairs the panel in charge of that money. Only senators are currently allowed to specify projects for funding within those jurisdictions.

“There’s interest on both sides, as long as it’s done in a way that doesn’t make both sides feel uncomfortable,” Aderholt said. “Members want to have a little bit of say-so, because we do have the power of the purse.”

Jordain Carney and Meredith Lee Hill contributed to this report.

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Republicans start raising concerns about Minneapolis shooting

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A small but growing number of Republicans are raising public concerns about the killing Saturday of a 37-year-old Minnesota man by federal agents.

Hours after the fatal shooting of Alex Pretti on a Minneapolis street, one House GOP chair called for the top ICE leader and other Trump administration officials to publicly answer lawmakers’ questions. GOP Sens. Bill Cassidy of Louisiana and Thom Tillis of North Carolina called for independent probes into the shooting, with Cassidy arguing the integrity of ICE and the Department of Homeland Security are “at stake.”

Another House GOP chair appeared to suggest President Donald Trump should withdraw from Minneapolis and send the agents there to another city.

“If I were President Trump, I would almost think about, OK, if the mayor and governor are going put our ICE officials in harm’s way and there’s a chance of losing more innocent lives, or whatever, then maybe go to another city and let the people of Minneapolis decide: Do we want to continue to have all of these illegals?” Oversight Committee Chair James Comer (R-Ky.) said Sunday on Fox News, adding that he expected Minnesotans to “rebel against their leadership.”

However gentle and equivocal the pushback might be, it is growing increasingly conspicuous as congressional Republicans privately discuss how to respond to Trump’s aggressive immigration enforcement campaign ahead of the midterm elections. Some Republicans have been privately warning administration officials and GOP leaders for months that the operation is not going over well in some pockets of the country.

“Many of us wonder if the administration has any clue as to how much this will hurt us legislatively and electorally this year,” said one House Republican granted anonymity to candidly discuss private reactions.

While some of those speaking out, like Tillis, are retiring or known to be at odds with Trump, not all fit that bill. Rep. Dusty Johnson, who called Sunday for “a thorough investigation” of the officer-involved shooting and for all parties to “deescalate,” is running in a June GOP primary to be South Dakota’s governor.

After House Homeland Security Committee Chair Andrew Garbarino (R-N.Y.) called Saturday for ICE, Border Patrol and other DHS officials to testify before his panel, Rep. Michael Baumgartner (R-Wash.) praised the move, saying it was important “the American people and Congress be given a better understanding of how immigration enforcement is being handled.”

Still, most Hill Republicans have not weighed in publicly or are backing the Trump administration, which was quick to argue Pretti was a “domestic terrorist” intent on massacring federal agents. Eyewitness video shows no evidence he drew his weapon or otherwise threatened agents with deadly force before he was shot.

House Majority Leader Steve Scalise said in an interview with CBS’ “Face the Nation” Sunday that people are not allowed to carry a gun while committing another crime. “And interfering with law enforcement is a felony,” he added.

“Peaceful protesters don’t have 9mm weapons with two extra magazines,” Rep. Jeff Van Drew (R-N.J.) said on Fox News, referring to the concealed handgun Pretti had a permit to carry.

The shooting and backlash from Democrats has upended a crucial government funding package that the Senate was expected to pass this week. Senate Minority Leader Chuck Schumer said Saturday that Democrats won’t vote to advance the legislation so long as DHS funding is included, raising the likelihood of a partial shutdown at midnight Friday.

Amid the uncertainty, some Republicans have privately fretted about the lack of guidance coming from the Trump administration about the shooting. Four GOP lawmakers and several GOP aides noted they had received many more updates from the administration about the weekend’s major winter storm than the situation in Minneapolis or immigration enforcement operations generally.

Compounding the confusion, a DHS official sent an email alert with incorrect and contradictory information to congressional Republicans about three hours after the shooting Saturday, according to three people with direct knowledge of the message, which Blue Light News obtained.

The email described “the incident this morning between US Border Patrol officers and an illegal alien with a 9 mm semi-automatic handgun, who was wanted for violent assault.” But it linked to a DHS social media post that said federal agents were pursuing “an illegal alien wanted for violent assault” and then an “individual approached US Border Patrol officers with a 9 mm semi-automatic handgun,” referring to Pretti, who was a U.S. citizen.

As Republicans wrangle with the shooting, Democrats are discussing internally how to mount a response — with senators strategizing over the funding bill and House leaders considering options including targeting Homeland Security Secretary Kristi Noem with sanctions.

There’s a growing demand in the caucus to impeach Noem, with one purple-district Democrat who voted for DHS funding last week, Rep. Laura Gillen of New York, publicly backing the move shortly after a Sunday morning caucus call.

Minnesota Gov. Tim Walz and state Attorney General Keith Ellison, both former House Democrats, briefed the lawmakers on the private call.

Walz “sounded the alarm” over the “illegal” DHS activity in Minnesota, “and he urged everyone to unite and defend the integrity of the victims who are being smeared by the Trump administration,” said one House Democrat on the call who was granted anonymity because participants were encouraged not to leak its contents.

“This is dark, unthinkable stuff, but I’ve never seen Democrats more militantly united,” the lawmaker added.

Nicholas Wu contributed to this report.

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