Trump Plans to Tap Biden's Green Bank to Make Billions in Loans
The Trump administration plans to use a $400 billion green bank the president once sought to kill to finance billions of dollars in loans for nuclear reactors, geothermal power and critical minerals, according to details of the administration's fiscal year 2026 budget request.
The funding would primarily support the construction of smaller nuclear reactors as well as untested advanced nuclear reactors that have struggled to gain traction. In all, the Energy Department wants to offer more than $67 billion in loan guarantees and other financing over the next two fiscal years, and is asking Congress to approve some $750 million to help pay for the costs of making some of those loans.
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CBS News
32 minutes ago
- CBS News
Judge orders Kilmar Abrego Garcia's release before trial, but he will likely be detained by ICE
A Tennessee judge on Sunday ordered the release of Kilmar Abrego Garcia, whose mistaken deportation has become a flashpoint in President Trump's immigration crackdown, while he awaits a federal trial on human smuggling charges. But he is not expected to be allowed to go free. At his June 13 detention hearing, prosecutors said U.S. Immigration and Customs Enforcement would take Abrego Garcia into custody if he were released on the criminal charges, and he could be deported before he has a chance to stand trial. U.S. Magistrate Judge Barbara Holmes has scheduled a hearing for Wednesday to discuss the conditions of Abrego Garcia's release. The U.S. government has already filed a motion to appeal the judge's release order. Holmes acknowledged in her ruling Sunday that determining whether Abrego Garcia should be released is "little more than an academic exercise" because ICE will likely detain him. But the judge wrote that everyone is entitled to the presumption of innocence and "a full and fair determination of whether he must remain in federal custody pending trial." Holmes wrote that the government failed to prove that Abrego was a flight risk, that he posed a danger to the community or that he would interfere with proceedings if released. "Overall, the Court cannot find from the evidence presented that Abrego's release clearly and convincingly poses an irremediable danger to other persons or to the community," the judge wrote. Abrego Garcia has pleaded not guilty to the smuggling charges that his attorneys have characterized as an attempt to justify the deportation mistake after the fact. The acting U.S. attorney for the Middle District of Tennessee, Rob McGuire, argued on June 13 that the likely attempt by ICE to try to deport him was one reason to keep him in jail. But Holmes said then that she had no intention of "getting in the middle of any ICE hold." "If I elect to release Mr. Abrego, I will impose conditions of release, and the U.S. Marshal will release him." If he is released into ICE custody, that is "above my pay grade," she said. The judge suggested that the Department of Justice and the Department of Homeland Security could work out between themselves whether the government's priority is to try him on the criminal charges or deport him. No date has been set for the trial. Will Allensworth, an assistant federal public defender representing Abrego Garcia at the detention hearing, told Holmes that "it's not necessarily accurate that he would be immediately deported." A 2019 immigration judge's order prevents Abrego Garcia, who had been living in Maryland, from being deported to his home country of El Salvador, Allensworth said in court. That's because he faces a credible threat from gangs there, according to court papers. The government could deport him to a third country, but immigration officials would first be required to show that third country was willing to keep him and not simply deport him back to El Salvador, Allensworth said. The smuggling charges stem from a 2022 traffic stop for speeding in Tennessee during which Abrego Garcia was driving a vehicle with nine passengers. Although officers suspected possible smuggling, he was allowed to go on his way with only a warning. At the detention hearing, McGuire said cooperating witnesses have accused Abrego Garcia of trafficking drugs and firearms and of abusing the women he transported, among other claims. Although he is not charged with such crimes, McGuire said they showed Abrego Garcia to be a dangerous person who should remain in jail pretrial. Abrego Garcia's attorneys have characterized the smuggling case as a desperate attempt to justify the mistaken deportation. The investigation was launched weeks after the U.S. government deported Abrego Garcia and the Supreme Court ordered the administration to facilitate his return amid mounting public pressure. Chris Newman, an attorney who represents Abrego Garcia's family, previously told CBS News, "The Trump administration is very invested in making this a referendum on the immigration debate, which, as you know, has become coarsened and polarized." "And that is one way to look at it. And I think certainly a lot of people view it that way. I don't view it that way. I view this as a core constitutional order case, a core due process case," Newman said. "And it just so happens that a Salvadoran immigrant is defending bedrock constitutional protections for all of us." Most people in ICE custody who are facing criminal charges are not kept in the U.S. for trial but deported, Ohio State University law professor César Cuauhtémoc García Hernández said. The U.S. will likely try to deport Abrego Garcia quickly without going before an immigration judge, the professor said. The government would not need a conviction to deport him because Abrego Garcia came to the U.S. illegally. "The legal standard is laxer," García Hernández said. "The government's argument is on stronger legal footing." However an immigration judge rules, the decision can be appealed to the Board of Immigration Appeals, García Hernández said. And the board's ruling can then be contested in a federal appeals court.
Yahoo
32 minutes ago
- Yahoo
OpenAI scrubs news of Jony Ive deal amid trademark dispute
OpenAI has removed news of its deal with Jony Ive's io from its website. The takedown comes amid a trademark dispute filed by iyO, an AI hardware startup. OpenAI said it doesn't agree with the complaint and is "reviewing our options." Turns out "i" and "o" make for a popular combination of vowels in the tech industry. Sam Altman's OpenAI launched a very public partnership with io, the company owned by famed Apple designer Jony Ive, in May. The announcement included a splashy video and photos of the two of them looking like old friends. On Sunday, however, OpenAI scrubbed any mention of that partnership from its website and social media. That's because iyO, a startup spun out of Google's moonshot factory, X, and which sounds like io, is suing OpenAI, io, Altman, and Ive for trademark infringement. iyO's latest product, iyO ONE, is an "ear-worn device that uses specialized microphones and bone-conducted sound to control audio-based applications with nothing more than the user's voice," according to the suit iyO filed on June 9. The partnership between OpenAI and io, meanwhile, is rumored to be working on a similarly screen-less, voice-activated AI device. According to its deal with OpenAI, Ive's firm will lead creative direction and design at OpenAI, focusing on developing a new slate of consumer devices. When the deal was announced, neither party shared specific details about future products. However, Altman said the partnership would shape the "future of AI." iyO approached OpenAI earlier this year about a potential collaboration and funding. OpenAI declined that offer, however, and says it is now fighting the trademark lawsuit. "We don't agree with the complaint and are reviewing our options," OpenAI told Business Insider. Read the original article on Business Insider
Yahoo
36 minutes ago
- Yahoo
Dow Jones Futures Open Lower, Oil Climbs After U.S. Bombs Iran Nuclear Sites; Tesla Launches Robotaxi Service
Dow Jones futures traded lower after President Trump announced the U.S. bombed Iran nuclear sites. The Tesla launched its robotaxi service.
