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A new analysis has found that New York’s share of the nation’s millionaires has fallen sharply over the past decade, costing the state an estimated $10.7 billion in tax revenue in a single year and fueling concerns that additional tax increases on high earners could accelerate the trend.

The report, released Monday by the Citizens Budget Commission (CBC), comes as debate intensifies over Mayor Zohran Mamdani’s proposals to raise taxes on wealthy residents. Critics argue that such policies could encourage even more affluent individuals and businesses to leave New York.

According to the CBC’s Competitive NYS: Value Proposition Tracker dashboard, New York’s share of America’s millionaires declined from 12.7% in 2010 to 8.7% in 2022—the steepest drop recorded by any state during that period.

“New York’s declining share of high-income taxpayers has meaningful consequences,” the analysis states.

“Had New York maintained its share of the nation’s millionaires over the past decade, personal income tax collections would have been substantially higher – roughly $10.7 billion more in tax year 2022.”

Business leaders and tax policy experts have increasingly warned that efforts to impose additional taxes on wealthy residents—an idea that has gained traction among some lawmakers in Albany—could intensify the migration of high-income taxpayers out of the state.

Although Gov. Kathy Hochul has rejected proposals for a broad increase in income taxes on the wealthy while seeking reelection this year, she has endorsed a pied-à-terre tax targeting expensive second homes in New York City.

Mamdani publicly praised that proposal in a social media video filmed outside hedge fund billionaire Ken Griffin’s $238 million Manhattan penthouse. The move sparked a public dispute with Griffin, who threatened to abandon a planned $6 billion Park Avenue development.

That confrontation heightened concerns among business leaders that New York could face a broader exodus of wealthy residents at a time when both the city and state rely heavily on tax revenue generated by a relatively small number of high-income earners.

“In New York, the top 1% of earners pay about 45% of all state income taxes in any given year, so New York’s revenue is very reliant on high earners to stay in New York, and that has been a challenge in recent years,” said Jared Walczak, an economist and senior fellow at the Tax Foundation think tank.

“Gracie Mansion can’t do it on its own; it takes Albany,” he told The Post. “Pied-à-terre will have some impact, but there’s this feeling that New York isn’t done raising taxes, and with other places being more competitive, it won’t be surprising if high-earner taxpayers choose to relocate.”

Abir Mandal, a senior state policy analyst at the Tax Foundation, said New York currently ranks last in the nation for tax competitiveness.

He argued that high tax burdens encourage businesses to relocate to states with more favorable tax climates, pointing to Elon Musk’s decision to move his companies from California to Texas as an example.

“Without reforming the tax structure New York won’t be competitive for attracting population and business,” he said.

“Wall Street is the golden goose. But for how long?”

The report also points to state policies enacted over the past decade that critics say have added to New York’s economic challenges. Among them are income tax increases approved under Gov. Andrew Cuomo during the coronavirus pandemic and Medicaid spending under Hochul that is projected to climb to $58 billion by the end of the decade.

Ken Girardin, a research fellow at the Manhattan Institute, argued that New York’s 2019 expansion of rent regulations, combined with the state’s clean energy mandates, has constrained housing construction while increasing energy costs.

“Albany is directly responsible for the stagnation,” he said.

The CBC report paints a picture of economic and demographic challenges that predate Mamdani’s election, highlighting long-term trends affecting the state.

Among its findings, the study concluded that New York has experienced a net loss of residents to every other state, with Florida and Texas attracting many of those who have left. It also found that New York City’s population gains in 2023 and 2024 were driven largely by international immigration following pandemic-era population losses. The report noted that much of the state’s economic growth is concentrated in a corridor stretching from New York City and Long Island to Albany, while many upstate and rural communities continue losing workers. It further found that New York collects more state and local taxes per resident than any other state, averaging $12,495 per person—78% above the national average.

Although New York ranked second nationally in millionaire concentration in 2010, the report notes that its position has steadily weakened.

By 2022, the state had added roughly 34,000 millionaires compared with 2010, but growth elsewhere far exceeded New York’s gains.

“New York’s number of millionaires doubled, but it tripled in California and Texas and quadrupled in Florida, leaving New York State with the fourth-most millionaires behind those states,” the study states.

The analysis also found that New York City has generally performed better than regions such as the North Country and Southern Tier, where population losses have remained persistent.

“It’s difficult to not be alarmed by this data,” said Justin Wilcox, Executive Director, Upstate United. “With this CBC tool, Upstate New Yorkers can see for themselves the devastating impacts of Albany’s policies — businesses failing to grow, population decline, and the loss of revenue. NYS needs to course correct now before it’s too late and we become permanently entrenched in a cycle of fewer people”

Responding to the report during an unrelated event Monday, Mamdani dismissed concerns that higher taxes would trigger a significant flight of wealthy residents.

He argued that New York has continued to add millionaires even after previous tax increases enacted by the state.

“I’ve been very clear about the fact that we live in the wealthiest city in the wealthiest country in the history of the world, and it’s unacceptable that one in four New Yorkers are living in poverty, and I believe that the wealthiest can do a little bit more to ensure that everyone can afford to live here,” he said.

Steve Fulop, CEO of the Partnership for New York City, warned that if high-income taxpayers continue relocating elsewhere, the burden will ultimately fall on lower-income residents who depend on government-funded services.

“If we don’t course-correct and get laser-focused on keeping the city and state attractive to the people and businesses that drive our economy, the affordability crisis will only deepen because the people leaving are the ones paying the largest share of a budget that funds the social programs meant to help our most vulnerable,” he said.

{Matzav.com}

Smoke drifting south from massive Canadian wildfires blanketed New York City this week, transforming the skyline into an eerie orange landscape and prompting officials to urge residents to remain indoors as hazardous air quality gripped the region.

A dramatic time-lapse recorded Wednesday captured the rapid change, showing bright blue skies gradually fading into a yellow haze as thick smoke spread across the metropolitan area from the fires burning in Canada.

By sunset, live footage from EarthCam revealed the city’s skyline glowing with an unsettling pale orange tint as the smoke continued to thicken overhead.

The smoky conditions persisted into Thursday, leading the National Weather Service to issue an Air Quality Alert covering New York City.

Air quality readings remained in the unhealthy range, with the Air Quality Index (AQI) fluctuating between 151 and 200 as authorities encouraged residents to avoid spending time outdoors whenever possible.

“[The] combination of dangerous heat and unhealthy air is a serious threat to New Yorkers’ health,” Mayor Zohran Mamdani said on X.

“If you can, stay somewhere cool with air conditioning, limit your time outdoors, drink plenty of water, and check on your neighbors — especially older New Yorkers and anyone with a health condition.”

To help protect residents from the smoky conditions, city officials are distributing free KN95 masks at neighborhood libraries and police precincts.

Health officials warned that while the polluted air poses risks for everyone, it is particularly dangerous for people with respiratory conditions such as asthma and other breathing disorders.

The air quality concerns are being intensified by an ongoing heat advisory affecting the city.

As a result, New York City has extended the operating hours of its cooling centers through Thursday, while residents enrolled in the Notify NYC system will continue receiving alerts about changing weather and air quality conditions.

{Matzav.com}

New York City Council members approved a controversial pay increase for themselves on Thursday, overwhelmingly backing legislation that boosts their salaries by 18% despite widespread concerns over affordability across the city. The measure also raises the mayor’s salary, although Mayor Zohran Mamdani has pledged not to accept the additional pay.

The legislation passed by a veto-proof margin of 42-6, increasing City Council members’ annual salaries to $175,500. It also raises the mayor’s salary to $305,800 per year, with both increases retroactive to January, when the current terms began and several newly elected officials took office.

Every vote against the proposal came from Republicans and conservative Democrats. Among them was Councilman Phil Wong (D-Queens), who argued that approving a raise for elected officials sends the wrong message while many New Yorkers continue to struggle financially and the city budget remains enormous.

“In my district, there are so, so many constituents that are living paycheck to paycheck and having problems making ends meet,” he said.

“So, I cannot vote onto a bill to increase salaries for myself.”

The vote came on the heels of the City Council’s approval of a record $126 billion municipal budget and follows an unsuccessful attempt late last year to quietly enact a smaller 16% salary increase before the close of 2025.

After that effort collapsed, Councilwoman Nantasha Williams (D-Queens), who had led the previous push, renewed the campaign with the backing of a three-member Quadrennial Commission established to evaluate elected officials’ compensation.

In June, the commission issued a 127-page report recommending an 18.2% increase, arguing that inflation and rising living expenses had significantly eroded the purchasing power of public officials’ salaries.

The commission also proposed instituting automatic annual raises of at least 2% going forward.

Council members, however, removed that provision before final passage, deciding instead that the compensation commission would reconvene every three years to review salaries.

Under the approved legislation, the annual salaries will increase as follows:

• Mayor: from $258,750 to $305,800
• City Council members: from $148,500 to $175,500
• Council Speaker: from $164,500 to $194,400

Council Speaker Julie Menin, who is independently wealthy, was the only member to abstain from the vote. She announced that although she did not vote against the measure, she would decline to accept the higher salary.

Before the vote, Menin said the Council had sought inflation-related raises for middle-income municipal workers, including emergency responders, but faulted the Mamdani administration for failing to move those efforts forward.

“Let me just be clear: we pushed for the wages for the EMS workers. We pushed for the FDNY. We pushed really hard for that,” she said. “The administration did not want to do either.”

Mamdani, who won the mayor’s office on a campaign centered on affordability, said during an unrelated event Thursday that he has no intention of taking the raise and would rather see the money benefit struggling residents.

“I will not accept a pay raise,” he said.

“I haven’t knocked on anyone’s door in New York City and they said their concern is that the mayor makes too little. So, that’s not my concern either.”

Council Minority Leader David Carr (R-Staten Island) criticized the process itself, arguing that elected officials should not be responsible for determining their own compensation.

“I just don’t think elected officials should vote on their own pay,” he said.

“Make raises pegged to the city’s managerial employee increases, which are based on the collective bargaining process, or make them automatic cost-of-living increases like Congress does, but don’t make it political.”

The previous time City Council members approved salary increases for themselves and other city officials was in 2016, during the administration of Mayor Bill de Blasio.

That year, lawmakers approved a 23% pay increase, raising their salaries to $138,315 annually while also redesignating Council positions as full-time jobs and imposing new restrictions on outside earnings.

{Matzav.com}

A complaint filed against Rishon LeZion and Chief Rabbi of Israel Rav Dovid Yosef over sharp comments he directed at Israel’s High Court of Justice during the controversy surrounding a Shabbos court hearing has been upheld by the Commissioner for Complaints Against Judges, retired Judge Asher Kula. Despite the ruling, no disciplinary action was taken against the Rav.

In his decision issued on Thursday, Kula wrote that the question of whether a court hearing should take place on Shabbos is not part of the Chief Rabbi’s official responsibilities. As a result, he determined that Rav Yosef’s statements on the matter are not covered by the legal protections granted to him when carrying out his official duties.

Kula found that several of Rav Yosef’s remarks—including describing the justices as “these insolent judges,” accusing them of “trampling the Holy Torah,” and referring to the High Court of Justice as “an enemy of Judaism”—crossed the line from legitimate public criticism.

The commissioner further wrote that language of this nature does not reflect the dignified public conduct expected of someone serving in a judicial role and warned that such statements have the potential to weaken public confidence in the judicial system.

At the same time, Kula rejected a separate complaint that challenged Rav Yosef’s criticism of a High Court ruling requiring the Chief Rabbinate to permit women to take the Rabbinate certification examinations.

He concluded that this issue falls directly within the Chief Rabbi’s area of responsibility and authority, making his comments part of his official role and leaving no grounds for intervention.

Although the commissioner upheld one of the complaints, he decided not to impose any sanctions on Rav Dovid Yosef.

{Matzav.com}

A longtime teleprompter operator for President Donald Trump has been placed on unpaid administrative leave after federal investigators reportedly concluded that he used advance knowledge of the president’s prepared speeches to make profitable wagers on a prediction market. According to sources familiar with the investigation, the employee allegedly earned more than $100,000 through the trades and is now negotiating a settlement with federal regulators.

Sources told ABC News that Gabriel Perez, who has served as Trump’s teleprompter operator since 2016, is accused of placing bets on more than a dozen presidential speeches using inside knowledge of their contents. Investigators with the Commodity Futures Trading Commission (CFTC) reportedly believe the wagers generated profits exceeding $100,000.

According to those sources, the investigation began after prediction market platform Kalshi detected suspicious activity involving its “Mentions” market, where participants wager on whether particular words, phrases, or topics will be spoken during public addresses. The company alerted the CFTC after identifying the unusual betting pattern.

“Our surveillance team promptly flagged and referred these trades to the CFTC, and we are cooperating and assisting regulators,” Kalshi’s head of enforcement, Bobby DeNault, said in a statement provided to ABC News.

Responding to the report on Thursday, White House Press Secretary Karoline Leavitt confirmed that Perez has been placed on unpaid administrative leave. She said she discussed the matter with President Trump, who considered the allegations a “disgrace” and personally decided that Perez should be suspended without pay.

Leavitt also said she is not aware of any other White House employees who participated in similar trading activity.

“The White House has strict ethics guidelines that we expect all staffers and officials to follow,” said White House spokesperson Davis Ingle when contacted by ABC News.

Investigators reportedly found that Perez placed wagers on numerous Trump speeches over a three-month period, including the president’s February State of the Union address, a December primetime speech, his January appearance at the World Economic Forum in Davos, Switzerland, and remarks delivered during a Medal of Honor ceremony in March.

Following those events, the White House circulated an internal memorandum in March reminding employees that they are prohibited from using nonpublic information to place bets on prediction markets, according to sources previously cited by ABC News.

Perez has remained one of President Trump’s teleprompter operators throughout the investigation, a position he has held since Trump’s first presidential campaign in 2016.

Sources said Perez is typically among the final staff members to review the president’s prepared remarks before delivery and frequently receives last-minute edits directly from Trump. He also drew scrutiny from congressional and federal investigators over edits made before Trump’s remarks surrounding the January 6, 2021, attack on the U.S. Capitol.

Despite relying on prepared speeches, Trump is well known for departing from the teleprompter during his remarks.

“You know, when you go up here, you take a big chance, especially me because I go off teleprompter about 80% of the time,” Trump said during remarks in January to the Detroit Economic Club, another speech federal investigators believe was among those Perez betted on.

Investigators also reportedly uncovered instances in which Perez withdrew certain wagers while speeches were still underway after Trump skipped sections that contained words Perez had predicted would be spoken.

Sources familiar with the case said Perez acknowledged making some of the trades during an interview with regulators. They added that although the CFTC referred the matter to federal prosecutors in Manhattan, prosecutors ultimately declined to pursue criminal charges.

Negotiations between Perez and the CFTC are ongoing. According to sources, regulators are considering a settlement that would require him to surrender any profits and agree not to engage in similar trading in the future.

Kalshi prohibits users from placing bets based on confidential information obtained through their employment.

Last month, the company strengthened its compliance policies by requiring users to disclose where they work.

“If you have information by virtue of your job or your employment, something that you have a legal duty surrounding, and you have an obligation not to take that, misappropriate it for yourself,” DeNault told ABC News in May.

Federal authorities have recently brought the first insider-trading cases involving prediction markets. One case involves a U.S. special forces soldier accused of wagering on the capture of Venezuelan President Nicolás Maduro, while another involves a Google employee accused of using internal search data to place bets. Both defendants have pleaded not guilty.

Although President Trump has expressed reservations about prediction markets in the past, he said in April that he supports allowing companies such as Kalshi and Polymarket to operate so the United States does not fall behind other countries.

“Well the whole world, unfortunately, has become somewhat of a casino, and you look at what’s going on all over the world in Europe and every place they’re doing these betting things. I was never much in favor of it. I don’t like it conceptually, but it is what it is,” Trump told reporters.

Last October, Trump Media and Technology Group announced that it was exploring the possibility of launching its own prediction market platform.

{Matzav.com}

Secretary of State Marco Rubio announced Thursday that the Trump administration will soon classify additional violent far-left organizations as foreign terrorist groups, warning that politically motivated extremism has become an increasingly dangerous international threat.

Speaking at the State Department’s Ministerial on the Resurgence of Political Terrorism, Rubio said the administration is broadening its counterterrorism efforts beyond Islamist terrorism to confront what he described as an expanding network of violent far-left organizations operating across international borders.

“Last November, the State Department designated four violent far-left extremist groups as foreign terrorist organizations, and there will be more designations soon,” Rubio told attendees.

Rubio pointed to the murder of conservative leader Charlie Kirk, the killing of UnitedHealthcare CEO Brian Thompson, and multiple assassination attempts against President Donald Trump as examples of what he described as a “distinctive and unique evil.”

He argued that violent activity by far-left extremists has long been minimized or ignored by the media, academic institutions, and government officials despite a lengthy historical record.

“Far-left political terrorism is not a recent-day modern novelty. It is not a fiction manufactured by conservative politicians,” Rubio said. “For most of the modern era, it was in fact the dominant form of political violence.”

A State Department fact sheet released during the conference stated that far-left anti-government extremists were responsible for 63% of all documented anti-government attacks or plots in the United States during 2025.

The department also said violent far-left and anarchist organizations carried out the majority of politically motivated attacks throughout the Western world during the 1970s and 1980s and have stepped up attacks on critical infrastructure in both Europe and the United States in recent years.

The conference drew representatives from more than 60 nations across Europe, Asia, and the Western Hemisphere to strengthen intelligence sharing, enhance cooperation between law enforcement agencies, and coordinate financial efforts to dismantle international extremist organizations.

State Department officials also highlighted the Rewards for Justice program, which offers up to $10 million for information that helps disrupt the financing of designated extremist groups. The department said the United States is also partnering with allied nations to curb terrorist travel and improve cross-border investigations.

Rubio concluded by warning that today’s extremist organizations collaborate internationally through encrypted communications, fundraising operations, and training networks, making a unified global response essential.

“Through intelligence and information sharing, through coordinated law enforcement strategy, through financial targeting and disruption, we will dismantle these networks brick by brick,” Rubio said. “It is time for the people of the civilized world to defend ourselves.”

{Matzav.com}

The Federal Aviation Administration announced Thursday that it is seeking to impose a $255,000 civil penalty against United Airlines, alleging the carrier failed to comply with federal drug and alcohol testing requirements.

According to the FAA, United permitted a flight attendant to carry out safety-sensitive responsibilities on 47 flights during 2024 and 2025 without first completing the required evaluation by a substance abuse professional, obtaining a verified negative return-to-duty drug test, or undergoing mandatory follow-up testing. The agency said the employee had been fired by United in 2021 after refusing to take a drug test but was later rehired.

United Airlines did not immediately respond to a request for comment on the proposed penalty.

The FAA has recently taken similar enforcement actions against other major airlines. In April, the agency proposed fines of $255,000 against American Airlines and $304,000 against Southwest Airlines over alleged violations of federal drug and alcohol regulations.

{Matzav.com}

The United States intensified its military campaign against Iran on Thursday night, carrying out a fifth consecutive evening of strikes as Washington continued efforts to weaken Tehran’s military capabilities.

US Central Command said the latest wave of attacks was part of an ongoing operation designed to further reduce Iran’s military strength and operational capacity.

Earlier Thursday, White House Press Secretary Karoline Leavitt announced that the US naval blockade of vessels traveling to and from Iranian ports is now fully operational. She explained that the blockade was reinstated because of “Iran’s inability to honor their agreement with the United States of America.”

Leavitt said the operation is being carried out by a formidable American force that includes more than 10,000 sailors, marines, and airmen, supported by two aircraft carriers, over 20 warships, and dozens of military aircraft.

Describing the blockade’s initial results, Leavitt said that during its first 24 hours, CENTCOM redirected two compliant commercial vessels and “disabled” one compliant vessel.

{Matzav.com}

A towering life-sized statue honoring Charlie Kirk is scheduled to be unveiled in New York City’s Times Square on Sept. 10, exactly one year after the Turning Point USA co-founder was assassinated, in what the sculptor says is meant to be both a memorial and a statement in defense of free speech.

The monument was created by Sergio Furnari, a sculptor born in Sicily who has spent the past 35 years living in New York. He said the unveiling is planned for 2:23 p.m., the exact time Kirk was shot and killed while addressing a campus gathering at Utah Valley University in Orem, Utah, one year earlier.

“You know, I’m a New Yorker, so Times Square is like La Piazza,” Furnari told the New York Post. “Everything happens in the city, in the center of the town.”

Although he has not revealed the precise location where the statue will stand, Furnari said it will be displayed “really high on a truck so that everybody can see.”

Promoting the event on Instagram, Furnari wrote: “It’s going to be in the middle of Times Square, the center of the universe.”

He also encouraged those who admired Kirk to attend the ceremony, saying, “If you were a big fan of Charlie, this will be your opportunity to maybe find a little bit of peace or harmony.”

The sculpture portrays Kirk holding a microphone while wearing a sweatshirt bearing the word “FREEDOM,” a tribute to the campus speeches and debates that helped make him one of America’s best-known conservative activists.

Furnari explained that the current version was constructed with a metal framework and industrial resin, though he hopes to eventually recreate it in stainless steel so it is “bulletproof.”

The artist emphasized that his motivation was rooted in defending the principle of free expression rather than endorsing Kirk’s political views.

“It’s not like I was a fan or somebody that followed him. Actually, I didn’t agree with many of his things, but it’s about freedom of speech,” he told the Post.

Kirk, 31, was murdered on Sept. 10, 2025, while speaking before a large audience at Utah Valley University. His death sparked nationwide attention, leading to tributes from conservative figures across the country and renewed discussions about political violence and security at public events.

After co-founding Turning Point USA in 2012, Kirk helped build it into one of the nation’s largest conservative youth organizations, establishing chapters on high school and college campuses while organizing major political conferences and voter engagement initiatives.

Meanwhile, the criminal prosecution of the man accused of carrying out the killing continues in Utah. Tyler Robinson has been charged with aggravated murder, and prosecutors are seeking the death penalty.

Earlier this month, prosecutors wrapped up a weeklong preliminary hearing in which they introduced surveillance video, forensic evidence, and witness testimony they say connects Robinson to the shooting. Defense attorneys disputed the credibility of critical DNA and ballistic evidence.

Closing arguments are scheduled for Sept. 1 before Utah state District Judge Tony Graf, who will decide whether prosecutors have presented enough evidence for the case to move forward to trial.

If everything proceeds as planned, the Times Square unveiling will take place on the first anniversary of Kirk’s assassination and is expected to attract supporters from across the country. Furnari said he hopes the memorial will honor Kirk’s legacy while serving as a lasting symbol of the importance of free speech.

{Matzav.com}

House Speaker Mike Johnson is preparing a strategy that could set the stage for another major budget battle with Democrats, as Republicans look to combine government funding with election integrity measures in the months leading up to November’s midterm elections.

According to reports, Johnson said Thursday that the House’s next major legislative effort will be a continuing resolution to keep the federal government operating beyond the Sept. 30 fiscal year deadline. The temporary funding measure would likely extend spending into the post-election lame-duck session, Politico reported.

The approach reportedly follows private discussions in which Johnson encouraged President Donald Trump to support the plan. Republicans believe another fight over federal spending could put Democrats on the defensive over key GOP priorities, particularly election security, before voters head to the polls.

When asked whether the Republican-backed SAVE America Act would be included in the temporary spending bill, Johnson indicated that no final decision has been made.

“We haven’t decided all that yet,” Johnson said when asked whether the Republican-backed SAVE America Act would be attached to the stopgap bill.

Johnson made clear, however, that the legislation remains central to the Republican agenda.

“The SAVE America Act is the No. 1 priority for us, and we’re going to attach it to everything that makes sense,” Johnson said. “So we’ll have to see.”

Republicans have increasingly pushed to link major legislation with the SAVE America Act, which would require individuals to provide proof of U.S. citizenship before registering to vote in federal elections. Although the House approved the proposal earlier this year, it has yet to advance in the Senate.

Politico reported that GOP leaders are debating whether to package the election integrity provisions with the funding bill, believing such a move would force Democrats to publicly oppose measures that have become a hallmark of President Trump’s legislative agenda. Some Democrats, however, are expected to favor a straightforward funding extension without additional policy provisions.

Sen. Brian Schatz, D-Hawaii, argued that lawmakers should simply keep the government funded until after the election, saying it would be “the adult thing” to do because Congress is unlikely to complete all of its appropriations work before the fiscal year expires.

At the same time, House Republicans are also working to move a separate $95 billion reconciliation package before lawmakers leave Washington for the August recess.

According to The Hill, the proposal would provide $73 billion for defense and intelligence programs, $12 billion for agricultural assistance, and another $10 billion to implement Trump-backed election integrity initiatives modeled after the SAVE America Act.

Not all Republicans are on board with the proposal. Fiscal conservatives have objected that the legislation does not adequately offset the new spending.

Rep. Warren Davidson, R-Ohio, predicted the framework would be “DOA,” while Rep. Chip Roy, R-Texas, said he remained undecided, cautioning that advancing the legislation too quickly would be a mistake.

House Republican leaders argue the scaled-down reconciliation package reflects negotiations with both the White House and Senate Republicans while addressing urgent military requirements in the aftermath of the conflict with Iran.

Vice President JD Vance has also urged House Republicans to rally behind the measure, arguing that it would bolster national security, provide assistance to American farmers, and advance election integrity efforts after Democrats declined to support the SAVE America Act in the Senate.

{Matzav.com}

Taiwan Semiconductor Manufacturing Co. is dramatically increasing its investment in the United States, announcing plans to pour another $100 billion into expanding its American manufacturing operations as soaring demand for artificial intelligence chips drives record-breaking earnings.

The new commitment raises TSMC’s total planned U.S. investment to approximately $265 billion. The company also boosted its full-year revenue outlook after posting its strongest quarterly profit ever, fueled by the explosive growth of AI technologies.

As the world’s largest contract chip producer and one of the most valuable companies on the globe, TSMC is widely viewed as a bellwether for both the semiconductor industry and the rapidly expanding AI sector. Its performance comes as investors continue debating whether the AI market’s rapid rise can be sustained.

To keep pace with surging demand for AI processors, TSMC has continued expanding its manufacturing footprint in the United States, Japan, and Taiwan. The company also increased its projected capital spending for the year, raising its investment budget to between $60 billion and $64 billion, up from its previous forecast of $52 billion to $56 billion.

TSMC manufactures advanced chips for some of the world’s biggest technology companies, including Nvidia and Apple. Before Thursday’s announcement, the company had already committed $165 billion toward constructing six semiconductor fabrication plants in Arizona.

According to Chairman and CEO C.C. Wei, the additional investment is intended to “support the strong multiyear demand from our leading U.S. customers,” he said during the company’s quarterly earnings conference Thursday.

“We believe this investment will help to further foster the development of the U.S. semiconductor ecosystem, strengthen the supply chain and support an increasing number of high-tech, high-paying jobs in the United States,” he said.

Wei also said demand tied to artificial intelligence remains exceptionally strong around the world, noting that AI-related growth continues to accelerate.

AI-related demand globally continues to be “extremely robust,” Wei added, as the “AI megatrend continues to drive the need for more and more computation.”

The company reported net income of 706.6 billion New Taiwan dollars—roughly $22 billion—for the April through June quarter, representing a 77% increase from the same period last year. The record-setting results exceeded Wall Street expectations and underscored the continuing strength of the AI-driven semiconductor market.

{Matzav.com}

This year’s Bein Hazemanim in the month of Av is expected to mark one of the busiest wedding seasons in the history of Yeshivas Ponevezh, with more than 50 bochurim from the yeshivah scheduled to marry over the course of the break.

The unusually large concentration of weddings stems from the longstanding directive established by the rosh yeshivah, Rav Elazar Menachem Man Shach zt”l, discouraging weddings during the month of Elul. Because Elul is devoted to preparation for the Yamim Nora’im and marks the beginning of one of the most intensive periods of the yeshivah year, weddings have traditionally been concentrated during Bein Hazemanim instead.

Among the most prominent celebrations will be several weddings involving members of the yeshivah‘s leadership. On the first day of Bein Hazemanim, the son of the mashgiach, Rav Avrohom Rothschild, will marry a great-granddaughter of Rav Avrohom Noach Garbuz zt”l. On the final day of Bein Hazemanim, the son of Rav Reuven Shmulevitz will wed.

Additional notable weddings include the grandson of Rav Boruch Elyashiv, head of the Tiferes Bochurim kollel network, and great-grandson of Rav Aryeh Shmulevitz zt”l, one of the senior roshei yeshivah of the Mir, who will marry a granddaughter of Rav Gershon Yosef Levi, son-in-law of Rav Aharon Feldman, rosh yeshiva of Yeshivas Ner Yisroel of Baltimore.

Also scheduled are the wedding of a granddaughter of Rav Moshe Shmulevitz to the son of Rav Melech, a maggid shiur at Yeshivas Daas Tevunos in Bnei Brak; the wedding of a great-great-grandson of the gaon av beis din of Kiryat Sefer, Rav Meir Kessler, and grandson of Rav Shmuel Meir Walach zt”l to a granddaughter of Rav Yaakov Marmarosh, rav of Bnei Brak’s Shikun Gimmel neighborhood; and the wedding of the daughter of Rav Aryeh Zelivansky, rosh yeshivah of Yeshivas Meor HaTalmud, to a grandson of Rav Shmuel Chaim Soloveitchik, head of the Vaad HaKashrus of the Eidah HaChareidis.

Meanwhile, the exceptionally busy wedding season has led to an innovative transportation solution among the bochurim. As has become customary in recent years, rather than each chosson arranging and paying for chartered buses to transport guests from around the country, many are purchasing monthly unlimited public transportation passes for bochurim who commit to attending a designated number of weddings throughout Bein Hazemanim. This system has significantly reduced transportation costs while making it easier for friends to participate in the unusually large number of simchos this summer.

{Matzav.com}

As Bein Hazemanim approaches, organizers of summer camps for yeshivah bochurim in Israel say that preparations are moving ahead despite ongoing concerns over the possibility of arrests under Israel’s military draft law. They say the decision to continue the programs was made following consultation with leading gedolei Yisrael.

Speaking on Kol Chai Radio’s Tzav Ma’atzar program, camp director Moishy Safra discussed this year’s preparations with host Gudi Silman. Asked whether buses filled with bochurim could face police inspections or arrests while traveling, Safra said the issue had been carefully weighed by gedolei Yisrael, who concluded that the camps should proceed.

“The decision was that, at this point, the concern is not so significant. Certainly when traveling as a large group, the level of concern is not great,” Sapra said.

According to Safra, interest in attending the camps is actually stronger this year than in previous summers.

“There is a greater desire among the bochurim to go out,” he said, explaining that the war and security situation had significantly limited recreational outings in recent years, leaving many eager to take advantage of Bein Hazemanim this summer.

He added that, in his view, gedolei Yisrael place particular importance on the camps this year because “the bochurim need it more,” and because they want “to give the bochurim the feeling that they deserve it,” amid the public debate and the difficult circumstances confronting bnei yeshivah.

Safra also addressed the financial challenges facing many yeshivos following reductions in government funding.

“Clearly it has an impact,” he said, noting that “everything now requires more thought” in order to maximize limited financial resources.

Despite rising costs, he said the camps will continue operating this year, although participants in many cases will face higher fees. At the same time, organizations and private donors have stepped forward to help offset expenses.

“There are various sponsorships… because supporting yeshivah bochurim will strengthen the yeshivah bochurim, without question,” he said.

Silman used the interview to encourage business owners, swimming pools, adventure parks, and other organizations to support the camps financially and assist bnei yeshivah.

“We want to uplift the yeshivah bochurim,” he said.

Safra added that organizers currently do not anticipate significant problems with outings or trips because of potential arrests. However, he noted that the camps’ programming has been adjusted this year. In addition to the traditional recreational activities, the schedule now includes expanded Torah programming, inspirational talks, and kumzitzen focused on strengthening bochurim spiritually and helping them navigate the challenges they currently face.

While acknowledging that this year’s atmosphere is different and the circumstances more complex, Safra said the goal remains to conduct the camps in much the same format as in previous years, providing bochurim with a meaningful and uplifting framework during Bein Hazemanim while fostering confidence, encouragement, and spiritual growth.

{Matzav.com}

Nearly two weeks after the murder of mekubal Rav Amos Guetta zt”l in Netanya, police say they have made a significant breakthrough in the investigation after a suspect who had remained completely silent began speaking following a carefully orchestrated investigative tactic.

According to a report by journalist Lee Ayash of i24NEWS, the suspect, who had consistently exercised his right to remain silent and refused to provide investigators with any version of events, changed his behavior after detectives from the Sharon District Major Crimes Unit carried out an undercover investigative maneuver.

Throughout his interrogations, the suspect reportedly refused to utter a word, acting as though he was unable to speak. Investigators said his only responses consisted of gestures and repeatedly pointing toward the sky.

Police then placed the suspect in a holding area outside the interrogation room without informing him that he was being secretly monitored and recorded.

According to investigators, while waiting, the suspect was offered food and drinks. Unlike his conduct during formal questioning, he responded to questions, carried on a conversation, and even requested a Coca-Cola instead of water. The entire exchange was documented and later presented to him by investigators.

After being confronted with the recorded footage, investigators said the suspect’s demeanor changed, and he began speaking during his official interrogation as well.

Despite that development, police said the suspect has still not provided an account of the murder itself. Instead, his conversations with investigators have focused primarily on religious matters.

Meanwhile, detectives continue to strengthen the evidentiary case. As previously reported, police have also recovered what they believe to be the murder weapon allegedly used in the killing.

{Matzav.com}

The Israeli government on Wednesday approved an additional 39 million shekels to increase the salaries of preschool teachers in Chareidi mukar she’eino rishmi educational networks, adopting a new funding formula that recognizes teachers’ actual years of experience.

Under the new policy, government funding for preschool teachers’ salaries will now be based on each teacher’s actual seniority rather than on a capped average of up to 16 years. For years, the Chareidi preschool networks have been required to pay teachers according to their true seniority, education, and professional rank, while government funding failed to cover those actual costs.

The government resolution allocates 39 million shekels from the Finance Ministry to implement the revised funding model during 2026.

Officials from the Chareidi preschool networks hailed the decision as a historic breakthrough and an important first step toward correcting what they describe as a longstanding funding inequity that had pushed many schools toward financial collapse, threatened the livelihoods of thousands of preschool teachers, and cast uncertainty over the opening of the upcoming school year.

At the same time, the Association of Directors of Mochshar Preschool Networks stressed that the newly approved funding represents only a partial solution. The organization said it will continue pressing the government until Chareidi preschool teachers receive full and equal funding comparable to that provided to teachers in Israel’s general education system.

The campaign was spearheaded by Agudath Israel’s Ganim Network under the leadership of Director-General Yisrael Golomb, together with senior representatives of the Chareidi parties and administrators from other educational institutions.

Golomb welcomed the government’s decision but emphasized that significant work remains.

“The work has not yet been completed, and a long struggle still lies ahead until full funding is provided based on the actual profile of the preschool teachers. Nevertheless, we welcome the recognition of teachers’ seniority and thank everyone who worked on this effort, especially MK Rabbi Moshe Gafni. This is an important first step toward achieving real change.”

Golomb also expressed appreciation to his partners in the campaign, including Yaakov Segal, director-general of the Etz Hadaas educational network, the various school administrators, and CPA Avigail Shikovitzky, thanking them for their determination, dedication, and close partnership throughout the effort.

{Matzav.com}

[COMMUNICATED]

Three kedoshei elyon had one common concept when it came to learning Torah – they were the Ohr Hachaim Hakadosh (Rabbi Chaim ibn Attar 1696-1743) when he came to Eretz Yisroel; the Ramchal (Rabbi Moshe Chaim Luzzatto 1707-1746) when he lived in Padua, Italy;  and Hagaon, Harav Chaim Volozhiner, (1749-1821) the famous talmid of the Gaon of Vilna.

They each had a yeshiva with ‘around-the-clock’ Torah learning, 24-hours a day, so that there would be no minute when the sound of Torah learning would not be heard in this world. The 24-hour period would be divided into shifts, and as one ended the next would begin.

Torah-24

A “Torah-24” Center has been opened in Yerushalayim and the Nasi is Maran Sar Hatorah, Harav Chaim Kanievsky, zt”l.

Under ONE ROOF, from 6:00 am – 6:00 am, 10 kollelim fill successive learning shifts. Each kollel focuses on a specific area of in-depth Torah study. The “Torah-24” Kollelim include: Boker (Gemora), Yerushalmi, Bavli, Zeraim-Taharot, Dalet Chelkei Shulchan Aruch, Erev (Gemora), Chatzos- Zohar/Kabbolah, Erev Shabbos (Chumash / Medrash b’iyun). 

Already there are 52 avreichim metzuyonim, and a large number of candidates are vying for the remaining slots in the kollelim. All the avreichim are required to take rigorous monthly tests.

Endorsements & Letters

Endorsements include Maranan Hagaonim shlit”a: Harav Gershon Edelstein, Harav Berel Povarsky, Harav Shimon Badani, Harav Dovid Cohen, Harav Boruch Mordechai Ezrachi, Harav Chaim Feinstein, Harav Shimon Galai, Harav Shraga Shteinman.

Letters of support-encouragement have been received from Maranan Hagaonim, shlit”a: Hamekubal Harav David Bazri, Hamashpia Hagadol Reb Elimelech Biderman, Hamekubal Harav Yaakov Meir Schechter, Harav Moishe Sternbuch, Harav Yitzchak Tuvia Weiss.

For more “Torah-24” information click on: www.torah-24.com or call 718-766-5022

Rav Yitzchak Yosef, nosi of Shas’ Moetzet Chachmei HaTorah, sent a special letter to Shas chairman MK Aryeh Deri congratulating him on the passage of the historic Basic Law: Torah Study, praising the legislation for elevating the honor and importance of Torah and its learners.

In the letter, Rav Yosef wrote that the law “has greatly increased kavod Shamayim and elevated the importance of Torah and those who study it.”

He continued by emphasizing the indispensable role of bnei Torah in protecting the Jewish people.

“Those who study Torah are the protectors of the Jewish people and ensure the transmission of Torah from generation to generation. May it be Hashem’s will that this will lead to a complete end to the persecution of Torah scholars and restore the situation to what it once was.”

Rav Yosef also praised the repeal of former minister Matan Kahana’s kashrus reform, offering special recognition to Religious Services Minister MK Michael Malkieli and ministry Director-General Yehuda Avidan for their efforts.

“I also extend my blessing to those engaged in safeguarding the walls of kashrus—MK Rabbi Michael Malkieli, together with the energetic and devoted Rabbi Yehuda Avidan and all those involved in this sacred work—who, with Hashem’s help, merited bringing this effort to completion and eliminating the danger that hovered over the kashrus standards in Eretz Yisrael.”

Last week, Rav Yosef took the unusual step of publicly intervening in the legislative process, sending a letter to Deri urging him to prioritize passage of the Torah Study Law.

Quoting the famous words of Rabban Yochanan ben Zakkai, Rav Yosef wrote, “Ten li Yavneh v’Chachameha. There is no room for delay, and under no circumstances should the passage of the Torah Study Law be jeopardized. Regarding kashrus, we must save the Jewish people from eating neveilos and treifos and support the current version of the law. It is not sufficient merely to refrain from doing wrong.”

Following Rav Yosef’s appeal, Shas intensified its efforts to advance the legislation. Over the past day, both measures were approved in their final Knesset readings. The Basic Law: Torah Study formally recognizes Torah study as a foundational value of the State of Israel, while separate legislation repealed Kahana’s kashrus reform.

The new kashrus law, promoted by the Ministry of Religious Services, significantly restructures Israel’s kashrus supervision system and eliminates the longstanding direct employment relationship between supervisors and the establishments they oversee. Supporters say the legislation strengthens the integrity of the country’s kashrus system and reverses reforms that had drawn widespread criticism and prompted legal challenges before Israel’s Supreme Court.

In his concluding brocha to Deri, Rav Yosef wrote that the passage of the Torah Study Law had increased kavod Shamayim and affirmed the central role of Torah scholars in safeguarding the Jewish people. He expressed hope that even those distant from Torah and mitzvos would come to recognize the greatness of Torah learners and that the legislation would ultimately bring an end to the persecution they have endured.

{Matzav.com}

Israeli Prime Minister Binyomin Netanyahu sharply defended the recently enacted law freezing the arrests of yeshivah students during private conversations with government ministers, reportedly condemning the arrest of Torah scholars and comparing the practice to religious persecution in Soviet Russia.

According to a report by Channel 14 correspondent Moti Kastel, Netanyahu expressed anger over criticism of the law, which was temporarily suspended by Israel’s High Court pending its review of petitions challenging the legislation.

During the conversations, Netanyahu reportedly urged ministers to push back forcefully against opponents of the law.

“We need to push back against this false propaganda. This law causes no harm whatsoever!” he said.

Netanyahu argued that freezing arrests would actually encourage military enlistment rather than discourage it.

“We want recruits. We don’t want arrests. The more arrests there are, the fewer recruits there will be. We’re hearing this from the heads of the hesder yeshivos. The moment this threat exists, everything stops. It only sows hatred and division. Anyone who is not learning should face the full force of the law.”

The prime minister also strongly criticized the ongoing arrests of bnei Torah, invoking the persecution of religious Jews under the Soviet regime.

“Taking Torah learners? They did this in Russia, and we cried out against it! This is not the solution. The Torah is our Jewish heritage for hundreds of generations! It is what has sustained the Jewish people.”

Netanyahu also addressed the recently approved Basic Law: Torah Study, dismissing criticism of the measure.

“What do they want? The law states that Torah study is a foundational value in Israel’s heritage. Wow! What’s the big deal? There’s nothing more to it.”

{Matzav.com}

A dramatic coalition showdown erupted in the Knesset on Wednesday evening just before the final vote on the government’s landmark judicial reform bill, after MK Moshe Gafni threatened to block the legislation unless funding issues affecting Chareidi preschool teachers were resolved. Following hours of behind-the-scenes negotiations, Gafni prevailed, clearing the way for the bill to move forward.

The legislation, championed by Justice Minister Yariv Levin and Constitution Committee Chairman MK Simcha Rothman, reached its final stages after roughly 70 committee meetings. However, moments before the decisive vote, the process came to an abrupt halt as Chareidi parties threatened to withhold their support, triggering a direct confrontation between Gafni and Finance Minister Betzalel Smotrich.

As coalition leaders scrambled to prevent the bill’s collapse, Rothman deliberately prolonged his speech from the Knesset podium, buying time for intensive negotiations behind the scenes. Those talks ultimately ended with the coalition accepting Gafni’s demands.

At the heart of the dispute was growing frustration within United Torah Judaism, particularly from Gafni, over the government’s failure to approve promised seniority-based salary increases for Chareidi preschool teachers. UTJ accused Smotrich of intentionally delaying the funding and removing it from the government’s agenda in an effort to pressure the party politically, specifically to secure representation for his Religious Zionism Party in the municipal coalition in Beit Shemesh.

In response, UTJ informed coalition leaders that it would not support one of the government’s signature judicial reform measures, a move that would almost certainly have doomed the legislation.

Religious Zionism fired back with an unusually sharp public response. Associates of Smotrich argued that Attorney General Gali Baharav-Miara should “send flowers” to Gafni because, by threatening the bill, he was effectively preserving what they described as her judicial “dictatorship.”

Party officials also warned that if Gafni and his colleagues were responsible for defeating legislation intended to curb the attorney general’s authority, “they will not be able to show their faces in the Chareidi street,” adding bluntly, “they should not threaten us.”

Despite the heated rhetoric, Gafni’s political pressure ultimately succeeded. After marathon negotiations, Smotrich’s camp agreed that funding for the salary increases would remain on the government’s agenda, officially resolving the crisis.

The confrontation unfolded despite an earlier coalition agreement under which the Chareidi parties had pledged full support for the attorney general legislation as part of a broader package negotiated with Prime Minister Binyamin Netanyahu. In return, the coalition had advanced several key Chareidi-backed measures, including the Basic Law: Torah Study, the law freezing the arrests of draft evaders—which was later suspended by the High Court—and legislation repealing the kashrus reform.

Gafni’s last-minute threat briefly cast doubt over the entire agreement. Once the dispute over the preschool teachers’ funding was resolved, however, coalition unity was restored and the legislative package remained intact.

The legislation at the center of the dispute is designed to significantly reshape the relationship between Israel’s government and the attorney general. Its primary provision removes the binding status of the attorney general’s legal opinions, making them advisory rather than mandatory for ministers and the cabinet.

Under the proposal, the attorney general will continue serving as the government’s chief legal adviser, offering legal guidance and outlining available options while helping ensure compliance with the law. Final policy decisions, however, would remain with elected officials.

The bill further provides that while written legal opinions from the attorney general will reflect the government’s legal position, they will not themselves determine the law. The government will be permitted to conclude that an opinion does not accurately reflect existing law, provided it reports that determination to the Knesset Constitution Committee.

In addition, the legislation grants the government greater authority over its legal representation in the courts. If the attorney general declines to represent the government’s position, ministers will be authorized to retain private outside counsel to argue the government’s case. With the coalition crisis resolved, the legislation is now expected to proceed to a final vote.

{Matzav.com}

The struggle over Israel’s military draft law is set to intensify dramatically after the Sanzer Rebbe announced that he will personally lead a mass tefillah rally and protest outside Military Prison 10 following the arrests of two members of the Sanz community over the draft issue.

The move comes less than a day after emergency meetings were held by senior Sanz er activists to coordinate a series of nationwide demonstrations in response to the arrests. News of the Rebbe’s personal involvement surprised many Chassidim and is being viewed as a major escalation in the campaign.

According to organizers, the decision was made after an avreich and a yeshivah bochur from the Sanzer community were arrested in recent days under Israel’s military draft law. The Rebbe will interrupt his stay in Caesarea, where he had been resting, and is expected to arrive Thursday evening at 7:00 p.m. at the entrance to Military Prison 10.

He will be accompanied by thousands of Sanzer Chassidim from across Israel, who are expected to travel to the prison on organized buses for what organizers describe as a massive prayer gathering and protest outside the prison walls.

Those coordinating the event say the Rebbe’s decision represents a significant breakthrough in the campaign against the draft law. He will become the second member of the Chassidishe Agudas Yisroel’s Moetzes Gedolei HaTorah to personally lead a demonstration outside the military prison together with his Chassidim. The first to do so was the Gerrer Rebbe.

{Matzav.com}