Newsletter Jun 18, 2024

Quick Six

Biden envoy seeks to de-escalate Israel-Hezbollah tensions
A US envoy held talks with top Israeli leaders to press for de-escalation on the Lebanese border, as an Israeli official said Hezbollah had fired thousands of projectiles towards Israel since the start of the Gaza war. Israel and Hezbollah have traded fire since the Palestinian-backed Hamas' October 7 attack on Israel that started the war in Gaza. But exchanges have intensified over the past week with Hezbollah's largest simultaneous attack, after an Israeli strike killed a senior commander from the group.
HOW THE US IS TRYING TO MAKE PEACE IN THE REGION

Murthy seeks tobacco-style warnings for social media teens
Social media platforms should feature tobacco-style health warnings for adolescents, Surgeon General Vivek Murthy said, calling social media "an important contributor" to a sweeping mental health crisis among young people. Murthy said spending more than three hours a day on social media doubles the risk of anxiety and depression symptoms for adolescents -- and that the daily average use in the summer of 2023 was nearly five hours.
SEE HOW THE SURGEON GENERAL'S PLAN WOULD WORK

Treasury, IRS work to close potential $50 billion tax loophole
The Treasury Department and the IRS are working together to "close a major tax loophole" often abused by complex and large partnerships to lower tax liabilities. Once implemented, this measure could bring the government more than $50 billion in revenue over the next 10 years. The plan will focus on "related party basis shifting," which is typically used to lower tax liabilities.
HOW 'RELATED PARTY BASIS SHIFTING' IMPACTS TAX BILLS

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DJIA	38,778.10	0.49%
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Nasdaq Composite	17,857.02	0.95%
Japan: Nikkei 225	38,102.44	-1.83%
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* As of market close

Russian fleet sails away after stay at Cuba

A Russian nuclear-powered submarine and other naval vessels on Monday left the port of Havana after a five-day visit to Cuba, the communist state off Florida's coast. Residents waved Russian flags as the vessels sailed towards the open sea after a busy few days for the island, which has also hosted a US nuclear-powered submarine and a Canadian Navy patrol ship. The deployment came amid major tensions over the war in Ukraine, which is trying to fight off a Russian invasion.

THE SIGNAL RUSSIA TRIED TO SEND TO US WITH DEPLOYMENT

Maryland to pardon marijuana convictions

Maryland Governor Wes Moore is reportedly planning to issue pardons for more than 175,000 marijuana convictions Monday. The sweeping measure will primarily address low-level marijuana possession charges, impacting around 100,000 state residents. The pardons will automatically clear every misdemeanor marijuana possession and paraphernalia charge that can be found in the state's electronic court records system, including those of individuals who have passed away.

SEE WHY MARYLAND'S GOVERNOR IS USING THE INITIATIVE

Biden ad campaign targets 'felon' Trump

President Joe Biden launched a $50 million ad campaign Monday, targeting the felony convictions of former president Donald Trump ahead of the June 27 presidential debate. The 30-second ad titled, "Character Matters," notes the disparity between Biden and Trump, drawing a contrast between "a convicted criminal" and "a president who's fighting for your family." The ad marks a change in strategy for Biden, who initially pledged to avoid engaging in Trump's legal battles.

SEE THE AD AND TRUMP'S REBUTTAL AS CAMPAIGN HEATS UP

Extra point

Who was the first presidential candidate to appear on a television ad?

Monday's answer: Although the Battle of Bunker Hill was a critical moment in American Revolutionary War history, most of the fighting in the decisive battle on June 17, 1775 occurred at nearby Breed's Hill.

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