Today’s Big Story…

President Donald Trump and Defense Secretary Pete Hegseth announced plans to build a “Golden Dome” missile defense system in the U.S., calling it a next-generation shield against foreign threats.

Modeled after Israel’s Iron Dome, which was developed with U.S. support, the new system will be larger, more advanced, and multi-layered. Trump said the “one big beautiful” budget bill in Congress includes $25 billion in initial funding for the Golden Dome, with total costs expected at $175 billion. He predicted a major phase would be finished within three years and the system would be fully operational before his term ends.

Defense Secretary Pete Hegseth praised the Golden Dome as a “bold initiative” and said it’s vital for countering threats from nations like Russia and China. Trump added that Space Force Gen. Michael Guetlein will lead the project, and is “the most qualified” for the role.

Another Big Story…

President Trump visited Capitol Hill to rally House Republicans behind his sweeping legislative proposal, the “One Big Beautiful Bill.”

Speaking to reporters, he criticized Rep. Thomas Massie as a grandstander for opposing the bill, which has faced a rocky path through House committees. Massie, a Kentucky Republican, has long opposed large spending packages. Speaker Johnson plans to bring the bill to a vote before the Memorial Day recess, but with a narrow GOP majority, leadership can afford only a few defections such as Massie’s.

The bill includes major tax cuts, such as eliminating taxes on overtime pay and adding deductions for seniors. Analysts warn it could add $2.5 to $3.3 trillion to the national debt over the next decade. Supporters claim it will boost economic growth, while critics point to long-term fiscal risks.

The Administration…

• A new Harvard CAPS/Harris poll shows 51% of Americans believe the U.S. economy is “strong” under President Trump—the first majority since July 2021.

• President Trump spoke with Ukrainian President Zelenskyy twice—before and after his call with Putin. Following the calls, Zelenskyy said he is ready for a “full and unconditional ceasefire.”

• Venezuela released U.S. Air Force veteran Joseph St. Clair, 33, in a move to ease tensions with the U.S. He flew from Antigua to Washington, D.C., with the handoff overseen by U.S. envoy Richard Grenell.

• Defense Secretary Pete Hegseth has ordered a full review of the failed 2021 U.S. withdrawal from Afghanistan.

• Homeland Security Secretary Kristi Noem denied reports that her agency is backing a reality show where immigrants compete for U.S. citizenship. Noem said the claim was “completely inaccurate” and said she’s unaware of any such proposal.

• The U.S. Department of Justice has launched a civil rights investigation into Chicago Mayor Brandon Johnson’s hiring practices. The probe follows Johnson’s remarks at a church event about the number of black officials in his administration. The DOJ’s Civil Rights Division, led by Harmeet K. Dhillon, is examining whether the comments suggest race-based hiring, potentially violating Title VII of the Civil Rights Act.

• President Trump told Kennedy Center board members that he ran again after his 2020 loss to “shove it up their a**” and enjoy the wins from his first term, including bringing the 2026 World Cup and 2028 Olympics to the U.S.

• The White House marked Take Our Daughters and Sons to Work Day with a special briefing led by Press Secretary Karoline Leavitt and children of staff and reporters. President Trump and First Lady Melania answered kids' questions about religion, favorite candy, and how many people Trump’s fired.

Vice President…

JD Vance, a former Marine, will speak at the U.S. Naval Academy graduation in Annapolis on Friday, May 23, at 10 a.m.

Congress…

The Resistance…

1. Disgraced former New York Governor Andrew Cuomo is under DOJ investigation over his COVID-era nursing home policy, which required facilities to accept patients regardless of positive test status. Cuomo currently leads the Democratic field in the upcoming New York City mayoral race.

2. Minnesota Democrat Governor Tim Walz is facing backlash for comparing ICE agents to the Nazi Gestapo during his commencement speech at the University of Minnesota Law School. He criticized the Trump administration’s efforts to deport criminal illegal aliens and gang members.

3. Minneapolis Police Chief Brian O’Hara criticized the city’s “bizarre” political climate since George Floyd’s death, saying leaders push ideas disconnected from policing realities. He warned the gap between activist demands and street-level law enforcement has made the city less safe.

4. Milwaukee County Judge Hannah Dugan, indicted for allegedly helping an illegal alien evade ICE, is drawing renewed attention as her trial will be overseen by U.S. District Judge Lynn Adelman. Adelman, 85, a former Democratic lawmaker known for his liberal views, is facing criticism over his anti-Trump record as he takes on the high-profile case.

5. Former Atlanta Mayor Keisha Lance Bottoms entered the Georgia governor’s race, becoming the top Democrat in a key test of the state’s swing status.

6. Democratic strategist James Carville said on MSNBC’s “The Beat” that he would support Rep. Alexandria Ocasio-Cortez (D-NY) for president if she became the nominee.

7. New York Republicans aim to flip a heavily Orthodox Jewish state Senate district in Brooklyn that has leaned toward Trump, as Democrats face ongoing criticism over antisemitism within their ranks.

8. A new report from reveals that the U.S.-based Chinese Progressive Coalition (CPC) received over $20 million from China-linked sources. The funds have supported anti-ICE efforts, legal challenges, protests, and advocacy to weaken U.S. immigration enforcement.

9. Jake Tapper struggled to defend his new book, Original Sin—co-written with Axios’ Alex Thompson—after being challenged over claims that media helped cover up President Biden’s cognitive and physical decline. The book details Biden’s condition and decision to run again, raising questions about why Tapper and others hadn’t reported on it earlier.

10. A spokesperson for Joe Biden claimed that his last PSA test for prostate cancer was in 2014 while serving as vice president. The rep added that Biden had never been diagnosed with prostate cancer before the recent announcement, dismissing rumors of a secret diagnosis.

In Other News…

1. The U.S. Supreme Court ruled 7-2 that Maine must revoke its censure of GOP Rep. Laurel Libby, who was punished for a post identifying a transgender athlete who won a girls’ pole vault event. The court said her right to relief was “indisputably clear.” Justices Sotomayor and Jackson dissented. Read more…

2. A maintenance worker at the Orleans Justice Center in New Orleans has been arrested for allegedly assisting in the escape of ten inmates. Read more…

3. A 24-year-old Venezuelan man in Ohio was arrested for allegedly posing as a 16-year-old to enroll in high school. Details here…

Your Opinions & Questions…

BrendaH97: “DML, so happy to hear that you’re finally retiring from podcast and giving your body some rest. Very happy too that you’re continuing with the newsletters! Can I ask what your investment strategy was to retire at 55?”

47 Report: I listened to people who knew more about investing than I did and read all the books and websites I could. Not everything I read turned out to be great, but I always gave myself the opportunity to learn more.

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The Lynch Family

47 Report is written by Denny Lynch, Ryan Lynch, and DML, artwork by Ashley Lynch, and input from Mary Lynch; all rights reserved by TeamDML Inc., 2025. Links may lead to sites from which TeamDML Inc. profits.