The Megyn Kelly Show - Big Beautiful Bill Passes, Jobs Report Surpasses Expectations, CBS Settles with Trump: AM Update 7/4

Episode Date: July 4, 2025

House Republicans pass President Trump’s sweeping “Big Beautiful Bill” just in time for July 4th, delivering major wins on taxes, border security, and entitlement reform. The U.S. economy adds 147,000 jobs in June, outpacing forecasts for the fourth straight month, as unemployment drops and markets rally. CBS parent company Paramount agrees to a $16 million settlement with President Trump over selectively-edited footage in a 60 Minutes interview with Kamala Harris.Riverbend Ranch: Visit https://riverbendranch.com/ | Use promo code MEGYN for $20 off your first order.Ground News: Use the link https://groundnews.com/megynto get 40% off the Vantage subscription to see through mainstream media narratives.

Good morning everyone. I'm Megyn Kelly. It's Friday, July 4th, 2025. Happy Independence Day. And this is your AM Update. Any of these individual achievements would be historic victories for a Republican Congress or any Congress. And today we're delivering on all of them. House Republicans passing President Trump's one big beautiful bill just in the nick of time, delivering the signature legislation to the White House for the July 4th celebrations. This job market is like the Energizer Bunny. Every single time we expect it to run out of steam, it just keeps going and going. The latest jobs report blowing away expectations.

President Trump scores another win against the corporate media, CBS parent company Paramount, agreeing to a settlement with the president in a case about 60 minutes selectively editing an interview with Vice President Kamala Harris ahead of the election. All that and more coming up in just a moment on your AM Update. update. It's time you've heard about River Bend Ranch. River Bend Ranch is located just a few miles from West Yellowstone, Montana and is known as one of the most respected Angus ranches in the nation. Angus beef is known for its great flavor and tenderness, but the cattle at River Bend Ranch are not your average Angus cattle. 35 years ago, using ultrasound technology,

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Riverbendranch.com promo code Megan. The U S Supreme court in a seven two opinion, making clear to a federal district judge in Boston, they tell him what to do, not the other way around. Federal District Judge Brian Murphy of Massachusetts placed on the bench in President Biden's waning days in office in April issuing a preliminary injunction that stopped the Trump administration from deporting illegal immigrants to third countries, meaning countries from which they do not hail.

While the injunction was pending, the Trump administration appealed and also transported eight men out of the U.S. en route to South Sudan. In May, Judge Murphy held that was a violation of his injunction, the government thus stopping the transport, temporarily holding the men in Djibouti. The Supreme Court lifted that preliminary injunction, allowing Trump's deportations to continue, while the case plays out on the merits. And then Judge Murphy tried to enjoin the deportations anyway, saying that since the government had violated his injunction order in the first place, he could still punish them by enforcing his now clearly invalid injunction order. The government called this unprecedented defiance,

asking the Supreme Court to clarify its earlier ruling. Late Thursday, the High Court made clear these deportations may resume, including of the men in Djibouti. The majority, which included the court's six conservatives and Justice Kagan, a liberal, held, The May 21st order cannot be used to enforce an injunction that our stay rendered unenforceable. Justice Kagan, concurring, I do not see how a district court can compel compliance with an order that this court has stayed.

Justices Sotomayor and Jackson dissenting, accusing the Trump administration of flouting the injunction and getting away with it. Today's order clarifies only one thing. Other litigants must follow the rules, but the administration has the Supreme Court on speed dial. The House passing President Trump's one big beautiful bill on Thursday following down to the wire negotiations with several GOP holdouts. Weather delays as well, preventing representatives from returning to D.C. and hours and hours of Democrat stalling tactics.

The final vote clocking in at 2.18 to 2.14. Republican Congressman Thomas Massey of Kentucky and Brian Fitzpatrick of Pennsylvania, joining every Democrat in voting no. The sounds from the House floor in the moments after the legislation passed. On this vote, the yeas are 218, the nays are 214. The motion is adopted. USA! USA! USA! GOP leadership locking in Republican support to clear a procedural hurdle around 320 a.m. on Thursday morning.

Then around 5 a.m., House Minority Leader Hakeem Jeffries, without any remaining hope of changing the outcome, using his unlimited floor time to launch a last-bid stalling tactic. Reading through multiple binders, slamming the bill as well as his Republican colleagues. Here's a sample of how that sounded. Mr. Speaker, I rise today in strong opposition to Donald Trump's one big ugly bill. This disgusting abomination, the GOP tax scam, a deportation machine that will be unleashed on steroids by this one big, ugly bill. We want no part of it, which is why we're fighting so hard to stop it.

On behalf of every single American, I'm on this House floor after 6 a.m. and I'm planning to take my sweet time. Inspiring. Ultimately, Mr. Jeffrey speaking for a total of eight hours and 44 minutes, setting a new record for longest speech in house history. The previous record set by then minority leader Kevin McCarthy in 2021. Speaker Mike Johnson taking a victory lap following Mr. Jeffrey's remarks.

You know, Ronald Reagan said one time that no speech should be longer than 20 minutes and unlike the Democrat leader, I'm going to honor my colleague's time and be a little more brief than that. With one big beautiful bill, we are going to make this country stronger, safer, and more prosperous than ever before. And every American is going to benefit from that. This big beautiful bill fulfills all the promises in the America First Agenda. Record tax cuts for hardworking Americans. Historic savings at the same time to end reckless spending.

We got energy dominance coming back to power our future. We have a secure border to protect American families. We have a strong military to restore peace through strength. Law enforcement will have the help of a border wall now that's 100% complete. Look, any of these individual achievements would be historic victories for a Republican Congress or any Congress. And today we're delivering on all of them in one big, beautiful bill. The bill unchanged from the version passed by the Senate earlier this week, delivering

on no taxes on tips up to $25,000 a year, no tax on overtime up to $12,500 for an individual, permanently increasing the child tax credit, rescinding billions in Green New Deal funding, adding work requirements on Medicaid for able-bodied adults, and providing a massive injection to the ICE budget to help with deportations. work requirements on Medicaid for able-bodied adults and providing a massive injection to the ICE budget to help with deportations. Prior to the BBB ICE funding hovering around $10 billion annually, the BBB infusing the agency with more than $100 billion in funding through 2029. That's money for thousands of new officers, increasing illegal alien detention capacity,

and adding billions for transportation and removal, all to facilitate President Trump's mass deportation program. The president is set to sign the bill at the White House later today. The U.S. economy added 147,000 jobs in June. That was more than expected. This is tied for the first best number of job creation of the year. Jobless claims, much lower than expected across the board here in the labor market. This is a pretty solid read.

This job market is like the Energizer bunny. Every single time we expect it to run out of steam, it just keeps going and going. The latest jobs report coming in hotter than expected. The U.S. adding 147,000 new jobs in the month of June, surpassing projections of 110,000. The unemployment rate dropping to 4.1 percent from 4.2 percent in May, defying expectations that it would increase to 4.3 percent. Markets surging in reaction. The S&P 500 and NASDAQ hitting new highs for the third time in four days. Press Secretary Caroline Levitt posting to X, quote, for the fourth

month in a row, jobs numbers have beat market expectations with nearly 150,000 good jobs created in June. American-born workers have accounted for all of the job gains since President Trump took office and wages continue to rise. The economy is booming again, and it will only get better when the one big beautiful bill is passed and implemented. Coming up, Paramount agrees to pay a $16 million settlement in a lawsuit brought by then candidate Trump, alleging deceptive editing of a 60 minutes interview with Vice President Kamala Harris. These days, it feels like everyone has an agenda. The media, big tech.

But let me tell you about Ground News. They do not filter the news. They show how stories are being shaped, spun, or ignored entirely. So you can decide what to believe. Ground News is an independent app and website built to give users control over their newsfeed. It aggregates coverage from across the political spectrum and breaks down how each outlet is framing the story, including bias ownership and what key details might be missing. If you're tired of being told what matters or what doesn't, it might be time to take the power back. Ground News is offering 40% off their unlimited access vantage

plan for a limited time. This offer is available exclusively at groundnews.com. That's ground, G-R-O-U-N-D, news, N-E-W-S dot com slash Megan. Don't let anyone else decide what you get to see. Take back control of your newsfeed today. CBS parent company Paramount Global agreeing to pay $16 million to settle a lawsuit filed by then candidate Trump in October 2024, accusing the network of deceptively editing a 60 minutes interview with then Vice President Kamala Harris just weeks before the 2024 election. Mr. Trump taking issue with the edits, arguing they were designed to make the often rambling Ms. Harris sound more coherent to influence an election.

In one promotional clip, CBS airing a long and winding answer from Vice President Harris. Does the U.S. have no sway over Prime Minister Netanyahu? I think that it is, without any question, our imperative to do what we can to allow Israel to defend itself against those kinds of attacks. Now the work that we do diplomatically with the leadership of Israel is an ongoing pursuit around making clear our principles, which include the need for humanitarian aid, the need for this war to end, the need for a deal to be done,

which would release the hostages and create a ceasefire. In the final version that aired on 60, the vice president's answer was different and far more concise for her. Does the U.S. have no sway over Prime Minister Netanyahu? The work that we do diplomatically with the leadership of Israel is an ongoing pursuit around making clear our principles. Mr. Trump's legal team filing the suit in Texas under the Texas Deceptive Trade Practices

Consumer Protection Act and the Federal Lanham Act, which governs false advertising and unfair competition. The lawsuit, originally seeking $10 billion in damages, later raised to $20 billion, alleging CBS, quote, deceptively manipulated the interview in a manner calculated to make Harris appear coherent and decisive and thus the product more commercially appealing to defendants' audience. The settlement fees will go toward Mr. Trump's legal costs and his future presidential library and will not be paid to the president directly. Many inside the network reportedly viewing the settlement as a setback for the First Amendment, a move that some believe was less about the merits of the case and more about

clearing the way for Paramount's impending high-stakes merger with Skydance Media, a deal requiring approval from Trump-appointed chairman of the FCC, Brendan Carr. Paramount in a statement saying the settlement has nothing to do with the deal. In April, amid settlement talks, 60 Minutes executive producer Bill Owens resigning from his post, citing a lack of independence, writing in a staff memo, quote, "...having defended this show and what we stand for from every angle over time with everything I could, I am stepping aside so the show can move forward. The show is too important to the country. It has to continue, just not with me as executive

producer. Of course, Mr. Owens presided over an era at 60, in which the show got progressively anti-Trump in its story selection and tone, and drifted leftward in its approach to other stories, like when it suggested that K-5 schools are not allowing sexually inappropriate materials in front of children, something the U.S. Supreme Court just acknowledged is happening. President Trump's legal team calling the settlement, quote, another win for the American people, as he once again holds the fake news media accountable for their wrongdoing and deceit. And that'll do it on a busy AM update.

I'm Megyn Kelly. Join me back here for the Megyn Kelly show, live on SiriusXM Triumph Channel 111 at noon East on youtube.com slash Megyn Kelly, and on all podcast platforms. And in the meantime, have a great, great July 4th. Hope you spend some time with your family, having some burgers and dogs, saying the pledge, singing some songs and feeling lucky to have been born in this beautiful country of ours.