Big Beautiful Bill Passes, Jobs Report Surpasses Expectations, CBS Settles with Trump: AM Update 7/4

0:01watching football is a sacred tradition and sling puts you in charge of how you want to watch it. Whether you want a quick day pass for nonstop college or pro action starting at just$4.99, a three-day or seven-day pass for game-packed weekends, a full monthly plan or a full season pass, sling gives you total control over how you watch. Get instant access to live football without paying for unwanted channels. Sling lets you do that. Visit sling.com to learn more. Good morning, everyone. I'm Megan 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.

0:48And 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.

1:27All that and more coming up in just a moment on your AM update.

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2:50The U.S. Supreme Court in a seven to 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.

3:37The 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.

4:26Justice Kagan concurring, quote, 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. Quote, 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.

5:07The final vote clocking in at 218 to 214. 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.

5:35GOP leadership locking in Republican support to clear a procedural hurdle around 3.20 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.

6:17We 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. Jeffries 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, all right?

7:01With 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 hard-working 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 percent complete.

7:39Look, 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. 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.

8:29That'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 jobs market is like the Energizer bunny. Every single time we expect it to run out of steam, It just keeps going and going.

9:11The 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.

9:58The 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.

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11:19CBS 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.

12:05Now, 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.

13:03The 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. CBS maintains the company did nothing wrong and will not issue an apology as part of the settlement agreement, though going forward, it will now release full transcripts with presidential candidates after the interviews have aired. 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.

13:40Many 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.

14:22The 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.

15:01And 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 megankelly 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 real talent is defined by what people can do not where they learn to do it so by stopping at the education section of a resume you might throw away the perfect hire.

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