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🔥 ICYMI in The Lever : New York just gave Elon Musk the keys to your money .
👇 Further down in this newsletter:
- Can a DSA candidate pull off another shocker?
- Jeffries double-crosses the base (again).
- How a “millionaire’s tax” in Washington will feed students.
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STORIES TO GO
In a hurry? These are the top stories in the country today.
⚖️ Luigi Mangione pleaded guilty to federal stalking charges and admitted to killing UnitedHealthcare CEO Brian Thompson. Mangione still faces state murder charges.
📸 Flock Safety says it will strengthen privacy protections — but civil liberties groups are dubious .
🤖 The Congressional office charged with drafting legislation is being inundated with AI slop from the congressional offices and outside groups that write the nation’s laws.
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TODAY'S TOPLINES
💰 Liberation Day (for Big Business). The largest companies in the world are raking in billions in refunds after the Supreme Court struck down President Donald Trump’s tariffs, but there is little recourse for consumers who paid higher prices because of the levies. A Wall Street Journal analysis found that more than 40 S&P 500 companies have received nearly $10 billion in tariff refunds in the past quarter, giving a massive boost to their bottom lines. Apple is among the biggest winners, reporting a $2.2 billion refund that accounted for about 5 percent of its per-share earnings in the most recent quarter. Nike has received almost $1 billion in refunds, while FedEx, Amazon, and General Motors reported $500 million or more. In a court filing this month , the U.S. Customs and Border Protection said it had processed about 60 percent of the more than 252,000 refund applications and plans to pay out about $129 billion to the companies seeking reimbursement.
🤷 Consumers who paid higher prices under Trump’s “Liberation Day” tariffs have largely been left out in the cold, as companies have no obligation to return the funds to customers. Nintendo said it won’t refund customers because they agreed to the higher prices at the time of purchase. Amazon said it had “identified a limited set of circumstances where we can trace that we pass specific import charges on to customers” and would “proactively contact affected customers and automatically issue refunds to them.”
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Consumers Frozen Out Of Tariff Refund Bonanza
Aggregated summary from an independent source. Read the original at LeverNews.