After an all-night marathon voting session bled into more backroom dealing yesterday morning, Vice President JD Vance cast the tiebreaking vote to pass a modified version of President Trump’s signature policy bill, 51–50. The bill will now go back to the House for another vote on the Senate’s changes.

What’s in the bill? In addition to extending Trump’s 2017 tax cuts for corporations and high-income households, the legislation…

• Removes taxes on tips.
• Phases out incentives for EVs and clean energy.
• Adds funds for detention centers and border walls.
• Cuts $1 trillion in Medicaid over the next decade, which is projected to strip 12 million people of health care coverage and trigger job losses.

Much of the day’s drama centered on moderate Republican Alaska Senator Lisa Murkowski, who had criticized parts of the bill but ultimately decided to vote for it after GOP colleagues added “sweeteners” designed to benefit Alaska. Murkowski admitted she still didn’t like the bill and hoped the House would improve it.

The sweeping legislation is expected to add $3.3 trillion to the national debt, according to the nonpartisan Congressional Budget Office (CBO).

Oh, SNAP. To help pay for the tax cuts, Trump’s bill will slash the federal budget for the Supplemental Nutrition Assistance Program (SNAP) by an estimated 20%, according to the CBO. More than 40 million low-income Americans (12% of the country) use SNAP, formerly known as food stamps.

Critics sound off. Democrats unanimously voted against the bill, pointing to the historic cuts to Medicaid. Minority Leader Chuck Schumer said it “covered this chamber in shame.” GOP Senators Susan Collins, Rand Paul, and Thom Tillis voted with Democrats against passage. Polls continue to show that the majority of Americans oppose the bill.

Name change. Democrats got one very small concession: The legislation is no longer officially called the “One Big Beautiful Bill Act” after Schumer used Senate rules to strike the name from the record.—AE, ML

Apple is reportedly considering using OpenAI or Anthropic to power Siri. Per Bloomberg, the move would sideline Apple’s in-house models in a “monumental reversal” of its AI strategy. Nothing has been decided, but Apple has talked with both companies and asked them to train models that could run on Apple’s cloud infrastructure for testing, Bloomberg reported. Tapping a competitor to power a new version of Siri would be an admission by Apple that it’s falling behind in the AI race. The company is reportedly still developing in-house models, so it may decide to continue powering Siri’s AI capabilities on its own.

US manufacturing contracted again. In June, factory activity in the US shrank for the fourth straight month, according to the Institute for Supply Management’s manufacturing index. Experts say the contraction is due to a perfect storm of declining demand and employment with rising prices—likely a reaction to tariffs. One company told Bloomberg Economics that its customers don’t want to make manufacturing commitments in the wake of so much economic uncertainty. “Everyone is on pause,” said another.

Grammarly is expanding into email. The software that tells you if you’re using a semicolon correctly (you aren’t) is buying the email efficiency app Superhuman as part of an effort to build an AI-powered productivity suite, Reuters reported. Grammarly, which was valued at $13 billion in 2021 and raised $1 billion this year, checks its users’ writing for spelling and grammar mistakes and can suggest changes with generative AI. Superhuman, meanwhile, says it boosts productivity by enabling users to read and write emails much faster. According to Reuters, Grammarly’s acquisition and overall expansion into productivity puts it into direct competition with Salesforce and various startups using AI to enhance work rate.—AE

Lululemon is joining many of your older coworkers in being tired of hearing about your dupe haul. The athleisure giant is suing Costco, alleging that the wholesale retailer is selling illegal knockoffs of its products, the Associated Press reported.

The lawsuit is Lululemon’s most high-profile attempt at fighting back against Gen Z-driven “dupe culture.” Lulu says Costco is intentionally confusing shoppers by slapping its Kirkland brand on clothes that are thinly veiled copies of much more expensive Lulu items.

Per the lawsuit:

• Costco’s $20 Hi-Tec Men’s Scuba Full Zip is a copy of Lulu’s Scuba jackets, which retail for over $100.
• Costco’s $10 Kirkland 5-Pocket Performance Pants are a duplicate of Lululemon’s $128 men’s ABC 5 Pocket Pants, which at least one person at your office is currently wearing.

Lululemon also alleges that Costco stole its “Tidewater Teal” color. The brand is asking for a jury trial and wants Costco to stop selling the items in question.

Can Lulu win? In April, the New York Times reviewed both Lululemon’s ABC pants and Costco’s version and found them to be suspiciously similar. But it’s typically hard for brands to prove that dupes are illegal, because US trademark law is often vague.

Dupe or die. Thanks to TikTok trends and cost-conscious consumers, dupes have become so popular among younger shoppers that wearing them can be as much of a status symbol as owning the luxury original.—AE

The messiest breakup of the summer puts this season’s Love Island crashouts to shame. In an escalation of their ongoing feud, President Trump told reporters yesterday that he’ll consider trying to deport Elon Musk and may also cut his companies off from federal funds.

“If DOGE looks at Musk, we’re going to save a fortune,” Trump said, likely referencing the $38 billion in federal funds and work contracts that SpaceX and Tesla have received over the past two decades, per the Washington Post. Trump started threatening Musk’s subsidies about a month ago, after the billionaire began railing against the president’s tax bill for adding to the deficit.

Tesla’s stock fell 5% yesterday on fears that the company could lose a significant funding avenue…at a time when it seems like nobody wants a Tesla anymore. The EV-maker will release its Q2 numbers today, and analysts are expecting another double-digit decline in Tesla deliveries due to slumping demand.

About that deportation threat: Though Musk has been a US citizen since 2002, the Trump administration is now prioritizing the denaturalization of lawful permanent residents who are found guilty of a crime or are considered a “potential” national security threat by the DOJ. Yesterday, the White House left the door open to investigating New York City’s Democratic nominee for mayor, Zohran Mamdani, who is a naturalized citizen.—ML

That is how long after a movie’s official showtime that it will actually start, according to a new notice when you buy tickets on AMC’s website, The Verge reported. So, do whatever: Go to the bathroom, buy some snacks, take a nap, read your favorite daily business newsletter. You’ve got time before the opening credits.

The move follows reports this week that AMC finally signed an agreement with National CineMedia to show even more ads before movies after being the lone major theater operator to hold out. But now that the former meme stock is in dire financial straits, it backpedaled, arguing that its competitors seem to be doing okay despite showing more ads.

TL;DR: Your 7pm showing of F1 at AMC will probably start between 7:25 and 7:30. That’s great news for stragglers, but less great for the moviegoers who show up on time and now have to deal with a bunch of people shuffling into the dark to find their seats as the movie is playing.—AE