House Republicans unveil their plans to send aid to Israel with a bill cutting funding for the IRS. And have you purchased your Halloween candy yet? You might have some sticker shock when you do. These stories and more highlight The Morning Rundown for Tuesday, Oct. 31, 2023.
House GOP unveils $14.3 billion Israel aid bill; cuts IRS funding
Newly elected House Speaker Mike Johnson, R-La., and House Republicans have unveiled a plan for the U.S. to provide $14.3 billion in emergency military aid to Israel by cutting that same amount from IRS funding, part of legislation signed by President Biden last year.
Biden’s Inflation Reduction Act, which focused on climate change, health care costs and, taxes, allotted $80 billion in funding for the IRS, for the agency to hire thousands of agents, improve taxpayer services and target wealthy tax evaders.
In an interview with Fox News on Monday, Oct. 30, Johnson defended the GOP’s bill, saying he knows it will be unpopular with Democrats in the Senate and plans to speak with Senate Majority Leader Chuck Schumer, D-N.Y.
“I understand their priority is to bulk up the IRS. But I think if you put this to the American people and they weigh the two needs, I think they’re going to say standing with Israel and protecting the innocent over there is in our national interest and is a more immediate need than IRS agents,” Johnson said.
Earlier this month, the Biden administration asked Congress for a $105 billion aid package, with $14 billion going to Israel and $61 billion to Ukraine.
Johnson has said he would want aid for Israel and Ukraine to be handled separately.
The House Rules Committee is expected to consider the Republican’s Israel funding bill on Wednesday, Nov. 1. If it passes the House, it would most likely be rejected by the Democratic-controlled Senate and White House.
In a statement, White House Press Secretary Karine Jean-Pierre called the bill a “non-starter.”
Netanyahu rejects calls for ceasefire; Israel frees hostage
Israel’s Prime Minister, Benjamin Netanyahu, said he is rejecting calls for a ceasefire in its ongoing war with Hamas. At a news conference in Tel Aviv on Monday, Oct. 30, Netanyahu said, “Israel will fight until this battle is won…The future of our civilization is at stake.”
Two senior United Nations officials spoke out hours later, calling for a pause in fighting due to “the horror people are experiencing in Gaza.” The officials said civilians in the territory are desperately searching for food, water and shelter amid Israel’s continuing airstrikes.
Earlier in the day, the Israeli army said during a ground raid in Gaza, it had freed one of the more than 230 hostages taken by Hamas in the deadly terror attacks more than three weeks ago.
Officials said the Israeli soldier was found to be in good condition, and she was reunited with her family. Netanyahu said the soldier’s release a turning point in the war and called for the immediate release of all hostages.
Cross-examination begins in trial of FTX founder
Cross-examination began in the trial of FTX Founder Sam Bankman-Fried on Monday, Oct. 30. Prosecutors used statements made by the 31-year-old former crypto billionaire in past interviews, in Congressional testimony and on Twitter to make their case.
Bankman-Fried is accused of defrauding FTX customers and investors of billions of dollars. In one instance, the prosecution brought up statements he made on social media, promising that customers’ assets would be safe.
Bankman-Fried responded multiple times throughout the questioning with a one-word answer of “yep” or “no.”
He has pleaded not guilty to all fraud and conspiracy charges. If convicted, Bankman-Fried could face decades in prison. The judge in the case has told jurors the trial might wrap up this week.
FDA warns certain over-the-counter eye drops may be contaminated
The Food and Drug Administration is warning consumers to stop using certain over-the-counter eye drops that could cause eye infections. The warning covers 27 eye drop products and includes some marketed under store brands like CVS Health, Rite Aid, Target’s Up and Up and Walmart’s Equate, in addition to drops from Rugby and Velocity Pharma brands.
The FDA said using these products could lead to eye infections and result in vision loss or blindness, although there have been no reported cases of infections so far.
The FDA advised manufacturers to recall the products on Oct. 25 after investigators found “unsanitary conditions” and harmful bacteria in the facility that manufactures the eye drops.
This marks the latest in a series of warnings and recalls for eye drops issued this year. Anyone affected by these recalls is urged to contact the FDA.
Cost of Halloween candy rises amid drought conditions
Tonight, Tuesday, Oct. 31, trick-or-treaters will be heading to house after house for some candy and chocolate, free of charge. But those same treats are costing shoppers much more at the grocery store this year.
According to the latest data from the Bureau of Labor Statistics, candy prices are up 7.5% compared to last year. Cocoa prices are trading at a 44-year-high, and global sugar prices are at 12-year highs.
The main reason behind the rise in cost is weather. West Africa, which produces most of the world’s cocoa, is facing one of its worst droughts in 20 years.
Mexico saw its sugar production fall more than 15% this year due to drought.
Shoppers are expected to spend $3.6 billion on Halloween candy this year, up 16% from last year, per the National Retail Federation. Our business correspondent Simone del Rosario has more spooky stats in her latest Five For Friday.
How old is too old to go trick-or-treating?
If you live in Jacksonville, Illinois, it’s unlawful to trick or treat if you are 13 or older. The law is the same if you’re in Rayne, Louisiana. Until a few years ago, there was a law in Chesapeake, Virginia, from the 1970s threatening jail time for teens who went trick or treating.
The law was never enforced and eventually tossed in 2019, though an amendment did pass saying trick-or-treaters should be 14 years old or younger. Anyone older could be fined up to $250 — but no jail time.
According to a recent NBC News survey, 46% of parents believe children are never too old for trick or treating. The next highest number, 16% of adults, felt the trick or treating should stop around age 17 or 18.