Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else.

Thank you. Please check your inbox to confirm.

In our news wrap Thursday, House Democrats back $280 billion bill to bolster the U.S. semiconductor industry, parts of Appalachia faced flash flooding after days of rain, the Pacific Northwest heat wave persists, Russian said there no agreement yet on a prisoner swap, President Biden spoke with China's president Xi Jinping about Taiwan, and Jet Blue agrees to by Spirit Airlines for $3.8 billion.

In the day's other news: The U.S. House of Representatives gave President Biden a win on another of his priorities, boosting the U.S. semiconductor industry.

Democrats pushed through a bill, including $280 billion for subsidies, tax breaks and scientific research. Nearly all Republicans opposed it, saying that it amounts to corporate welfare.

Parts of Central Appalachia faced flash flooding, mudslides and power outages today, after days of heavy rain. In West Virginia, water rose into homes and submerged roads. People were left stranded and rescue crews worked through the night.

Heavy flooding also hit Eastern Kentucky, inundating a school in Perry County. Governor Andy Beshear reported eight dead and warned the water is still rising.

We probably have not seen the worst of it. Sadly, we believe that we will lose Kentuckians and a lot of Kentuckians will probably lose most of what they have.

Meanwhile, the heat wave over the Pacific Northwest pushed temperatures near 100 degrees again. It's expected to continue through Saturday.

Russian government officials cautioned today that there's no agreement yet with the U.S. on any prisoner swap. The Biden administration wants to bring home Americans Brittney Griner and Paul Whelan, both of them jailed in Russia. Reports say the offer could involve trading Viktor Bout, a convicted Russian arms dealer who is in a U.S. prison.

In Ukraine, Russian forces launched heavy new missile strikes on areas that had not been targeted in weeks. Missiles rained down on the Kyiv region. Russian strikes also hit in the Chernihiv area in the north. Meanwhile, Ukrainian officials said they have begun a counter-officious — offensive, that is, to take back the Kherson region in the south.

President Biden spoke with China's President Xi Jinping today, and Xi warned against provocations over Taiwan. Chinese state media said the U.S. is playing fire on Taiwan. It said that Xi sharply criticized a possible visit by House Speaker Nancy Pelosi to the island nation, which China claims as part of its territory. The White House said President Biden warned against any hostile moves.

Karine Jean-Pierre, White House Press Secretary:

President Biden underscored that the United States policy has not changed and that the United States strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.

The leaders talked by phone for more than two hours.

Pope Francis was confronted in Canada today by protesters for indigenous people's rights. It happened at a papal mass in Quebec. Two women unfurled a banner urging the pope to rescind a centuries-old doctrine that legitimized taking Native land. Many of those at the mass were survivors of schools that forced assimilation on Native children.

JetBlue has agreed to buy Spirit Airlines in a deal valued at $3.8 billion. It would create the nation's fifth largest airline, provided that federal antitrust regulators approve. Just yesterday, Spirit abandoned a proposed merger with Frontier Airlines.

And, on Wall Street, stocks advanced on hopes that the Federal Reserve might go slower on raising interest rates if the economy slides into recession. Major stock indexes were up 1 percent. The Dow Jones industrial average gained 332 points to close at 32529. The Nasdaq rose 130 points. The S&P 500 added 48.

Support Provided By: Learn more

Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else.

Thank you. Please check your inbox to confirm.

© 1996 - 2022 NewsHour Productions LLC. All Rights Reserved.

Subscribe to ‘Here's the Deal,’ our politics newsletter

Thank you. Please check your inbox to confirm.

Learn more about Friends of the NewsHour.

Support for NewsHour Provided By