NPR News: 05-07-2026 6PM EDT
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What recent military actions have occurred in the Strait of Hormuz?
Live from NPR News in Washington, I'm Ryland Barton. U.S. officials say Iran launched multiple missiles, drones, and small boats at three American warships transiting the Strait of Hormuz. Central Command says it destroyed the threat and targeted Iranian military facilities, including launch sites and command locations. Meanwhile, Iran has created a government agency to try to control and tax vessels passing through the strait. The effort raises new concerns as hundreds of commercial ships remain bottled up in the Persian Gulf, unable to reach the open sea. The mayor of New York City and the head of one of the nation's largest hedge fund firms are trading sharp opinions over taxing the wealthy. NPR's Windsor Johnston reports the debate is raising broader questions about how tax policy influences where companies choose to expand.
Citadel CEO Ken Griffin criticized Mayor Zoran Mamdani's proposal to tax luxury properties owned by wealthy part-time residents. Mamdani argues the city's tax system favors the ultra-wealthy, while critics say New York is already near a tipping point on taxes for high earners. Jared Walzak is with the center-right think tank, the Tax Foundation. He says the state depends heavily on top earners for revenue.
New York State gets about 40% of its income tax revenue from the top 1%. You lose some of those people, you lose a lot of tax revenue.
Walzak says the proposal itself is relatively narrow, but says concerns over future tax increases could be a deterrent for some companies. Windsor Johnston and PR News.
The Postal Service is considering a rule change that would allow anyone to send handguns through the mail for the first time in nearly 100 years. A 1927 law prohibits the shipment of handguns through the USPS unless they're from licensed retailers. The DOJ has called that law unconstitutional. Democratic attorneys general sent a letter in opposition to the change, arguing that it would override state gun laws and make it easier for felons and domestic abusers to access firearms. A council of disaster experts appointed by President Trump is recommending major changes to FEMA. NPR's Rebecca Hersher reports.
The council was created by President Trump in the early days of his second term. The president has repeatedly called for FEMA to be eliminated. But the council recommends investing in the agency to make it easier for disaster survivors to get help. That includes housing for people whose homes are destroyed in hurricanes, wildfires, and other events. The council does not recommend cuts to FEMA's workforce. In recent weeks, the agency has reversed Trump administration policies that previously cut thousands of jobs at FEMA. Rebecca Herscher, NPR News.
President Trump says EU goods will face higher tariff rates July 4th if the bloc doesn't approve a trade framework drawn up last year. Trump is displeased that the European Parliament has yet to finalize that trade agreement. The negotiations have been complicated since the Supreme Court ruled that Trump has improperly used an emergency power to levy tariffs.
How are tax policies affecting New York City's economy?
This is NPR News. A pilot program in New York City uses plug-in batteries that can power air conditioners during peak demand, helping take pressure off the grid at its most stressed moments while still keeping residents cool. The devices are about the size of a microwave, charged when electricity demand is low, and then run window AC units for a few hours when demand spikes. Maine Republican Senator Susan Collins is in a key midterm re-election contest. In her first ad of the campaign, she's highlighting her ability to secure federal funding. Steve Missler from Maine Public has more on how she's trying to woo voters.
The ad hits a theme that's expected to be a central part of Senator Collins' bid for a sixth term. It focuses on $6 million in federal funding she helped secure to repair a breakwater dock in Eastport, Maine, nearly a decade ago.
The breakwater has long been a part of Eastport's past. And with the help of Susan Collins, it'll always be a part of our future as well.
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