November 11, 2025: Court Pauses SNAP Aid For Now, House to Vote Funding Bill, More

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Episode Transcript

Speaker 1 (00:01):
News when you want it with Bloomberg News Now, I'm
Doug Krisner. The Supreme Court has extended a freeze on
a federal judge's ruling to require SNAP to be fully
funded in November, and for now, the Trump administration does
not have to distribute the additional four billion dollars in
SNAP funding. Now, the Supreme Court's block on full SNAP
payments does remain in effect until Thursday at midnight. Meantime,

(00:24):
the government shutdown is on a path to end as
soon as tomorrow. Last night, the Senate advanced a temporary
funding measure to reopen most of the government through January thirtieth.
The deal was reached after Democratic moderates dropped their demands
to renew expiring tax subsidies under the Affordable Care Act.
Now the bill goes to the Republican controlled House for approval.

(00:46):
Here is Minority Leader Jakim Jeffreys.

Speaker 2 (00:49):
We're focus right now on pressing the case in addressing
the Republican healthcare crisis. Will be before the Rules Committee
in moments, will have a family conversation as well. House
Democrats were strongly opposed as House Democrats to this reckless
Republican effort. To continue to raise the high cost of
living on everyday Americans, which is exactly what they're doing

(01:12):
by failing to extend the Affordable Care Access Credit.

Speaker 1 (01:14):
That is House Minority Leader Hakim Jeffries. Incidentally, the House
is planning to vote tomorrow. He as the shutdown could
end this week. However, it's not yet over and more
flights are being disrupted. Airports serving Chicago, Atlanta, and New
York were hit the hardest by government mandated flight cuts.
We heard from Transportation Secretary Sean Duffy. He spoke to

(01:36):
reporters on how soon flights would return to normal once
the bill is passed by the House.

Speaker 3 (01:41):
We are going to look.

Speaker 4 (01:42):
At the data and make the best decisions possible to
keep the travel in public safe. That's what we've done.
When that data changes, we're going to start taking down
from six MAYOBE will go to four two and get
back to normal air travel. But I want to just
clarify what we've done and why we've done it.

Speaker 1 (01:59):
Transportation Secretary Sean Duffy speaking to reporters Now. The FAA
began pairing back air traffic last week due to a
shortage of air traffic controllers. Separately we are told airline
executives privately asked for more information on the data used
to justify those flight cuts. Aids to President Trump are
reviewing federal funds that benefit New York City to potentially

(02:22):
suspend or even cancel them after Zoron Mamdani's victory in
the city's mayoral race. According to a White House official,
the administration is waiting on President Trump to greenlight any
funding freeze. Now, the White House and the mayor elects
transition team have not been in touch. Mamdani did campaign
on a platform that includes freezing the rent on more

(02:44):
than one million rent stabilized apartments. He also wants to
provide universal childcare and fund free buses. Mamdani also envisions
city owned grocery stores. His aim is to pay for
this agenda with new taxes on both corporations and high
income earners. In Nvidia shareholders, soft Bank sold its entire

(03:05):
stake in the chip maker. That sale netted five point
eighty three billion dollars. Now, soft Bank will use the
proceeds to help a bankroll investments in artificial intelligence, and
that will include a bigger bet on open AI. At
the same time, soft Bank also reported net income for
the latest quarter top estimates. However, shares are down more

(03:26):
than four percent in the Tokyo session. Here is Bloomberg's
Annabel Drowlers.

Speaker 3 (03:31):
Just thinking about what it could be so far. I mean,
there has been something that's been indicated by analysts like
those Smart Karma for instance, who are saying that given
you've seen such a surge in the share price over
this year, they could be opening up to profit taking essentially.
So that is perhaps what is playing into the dynamics
so far, just investors looking again to take advantage essentially

(03:52):
all that big surge that we've seen.

Speaker 1 (03:55):
That is Bloomberg's Annabel Jewelers. US Treasury Secretary Scott Besst
is downplaying and concerns about high cost under President Trump.
Besson said the administration inherited elevated price levels. Here is
the Treasury Secretary speaking this morning on MSNBC.

Speaker 5 (04:11):
When you ask over the next six or twelve months,
there are two parts to affordability. There's the price level,
and we inherited a mess. It was the worst inflation
forty or fifty years. And I think what the President
was very frustrated about is you said, everyone started talking
about it that after he took office. Where was the

(04:34):
discussion during Joe Biden.

Speaker 1 (04:36):
That is Treasury Secretary Scott Besson speaking on MSNBC. He
went on to say, rising working class wages will address
the affordability issue. We go to the Middle East next.
The US military is exploring the idea of building a
temporary base near the Gaza Strip as a means to
monitor the ceasefire between Israel and Hamas. Now, the Navy

(04:58):
sent a request for information to various contractors for the
cost of a base that can support ten thousand people
and provide ten thousand square feet of office space for
a year. This request was sent back on October thirty first,
with responses due three days later. Now, the White House
said these plans have not been approved, and Press Secretary

(05:18):
Caroline Levitt dismissed the document as just a piece of
paper produced by random people in the military. And that
is news when you want it with Bloomberg News. Now,
I'm Doug Prisner, and this is Bloomberg