Senate bill would expand Pentagon equity investments

June 19, 2026

1–2 minutes

Summary

A Senate defense bill would let the Pentagon take larger stakes in private companies tied to critical minerals and batteries.

Why this matters

The provision would broaden the federal government’s role as an investor in private industry through national security policy. It also raised questions about oversight and conflict-of-interest safeguards for future investments.

A provision in the Senate’s version of the 2027 National Defense Authorization Act would create a new Treasury account for Pentagon investments in private companies.

Under the proposal, the Defense Equity Investment Account could make investments of up to $500 million in companies involved in producing “critical minerals, materials, and chemicals” or batteries. The Senate Armed Services Committee drafted the provision this week as part of the broader bill.

The measure would allow the Defense Department to make the “direct or indirect purchase, acquisition, or commitment of funds by the Department of Defense in exchange for an ownership interest, convertible interest, warrant, revenue-sharing instrument, or other similar financial instrument in a non-Federal entity.”

The proposal would bar the government from taking more than a 50% ownership stake in any private business.

During a closed-door session last week, the Senate Armed Services Committee reportedly voted down an amendment that would have barred the Trump administration from taking equity stakes in businesses with ties to the president, his family members, or Cabinet members.

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Army fugitive arrested in Spain after 29 years

A former U.S. Army soldier convicted of rape, desertion, and indecent assault was arrested in Spain nearly 30 years after fleeing his unit in Germany, the U.S. Marshals Service said last week. Jesse Bussey, who had been on the run since 1996, was arrested Nov. 10, 2025, in Malaga, Spain. Authorities said he had been…

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A former U.S. Army soldier convicted of rape, desertion, and indecent assault was arrested in Spain nearly 30 years after fleeing his unit in Germany, the U.S. Marshals Service said last week.

Jesse Bussey, who had been on the run since 1996, was arrested Nov. 10, 2025, in Malaga, Spain. Authorities said he had been living under an alias and teaching English.

Bussey was extradited to the U.S. Disciplinary Barracks at Fort Leavenworth, Kansas, where he began serving a 16-year military prison sentence.

He was convicted in absentia of rape, desertion, and two counts of indecent assault. He also was reduced in rank to E-1 and dishonorably discharged.

The Army Criminal Investigation Division had previously offered a $25,000 reward for information leading to his capture.

Bussey was last seen fueling his vehicle at a gas station on an Army base in Schweinfurt, Germany, before disappearing. The Marshals said that, under a different identity, he joined the French Foreign Legion in late 1996 and served until early 2000.

After leaving the French Foreign Legion, Bussey was homeless in France and assumed the identity of a Nigerian citizen 18 years younger, authorities said.

Authorities said they believed Bussey never returned to the United States and focused the investigation in Europe and Africa before receiving a tip from someone who responded to a social media request for assistance.

The Marshals said Bussey’s arrest and extradition involved the Army, INTERPOL, the Spanish National Police Force, the Dover, Delaware, Police Department, the New Jersey State Police, the Justice Department’s Office of International Affairs, the Ministry of Justice of Spain, and members of the public.
US Politics

Senate panel backs probe into JAG civilian roles

In Sept 2025, about 600 military lawyers were authorized to serve as immigration judges to help address a national backlog in immigration court cases.

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A Senate effort to examine how military lawyers were assigned to civilian legal roles advanced after the Senate Armed Services Committee backed a proposal from Sen. Elizabeth Warren, D-Mass., for the fiscal 2027 defense bill.

The proposal would direct the U.S. comptroller general to investigate how Judge Advocates General (JAGs) were reassigned by the Justice Department. It was adopted with bipartisan support as part of the committee’s 2027 National Defense Authorization Act package.

JAGs are trained to provide legal counsel and handle courts-martial under the Uniform Code of Military Justice.

In January, JAGs also were assigned as special assistant U.S. attorneys “in cities across the country at greater numbers than before and in cases with no direct connection to the military,” according to the committee report.

Warren’s proposal did not appear in the text of the Senate bill released Tuesday. Instead, it was included in a committee report, meaning it would not be subject to debate in committee or on the Senate floor, according to Warren’s staff.

Under the proposal, the Government Accountability Office would review the criteria used to select the JAGs, the training they received for civilian roles, what information the Defense Department keeps on their military experience, how long their civilian assignments are expected to last, and the effects on military justice, readiness, and JAG capacity.

The report said the Government Accountability Office must provide its findings to committee members by April 16, 2027.
Tech & Artificial Intelligence

Spotify launches early ticket access for top fans

When the purchase window opens, usually for about a day, users can buy up to two tickets before they go on sale to the public.

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Spotify said Thursday it is launching “Reserved by Spotify,” a system that identifies eligible top fans of an artist and holds two tour tickets for them before general ticket sales begin.

The feature is available starting Thursday in the U.S. for Premium subscribers age 18 and older. Role Model is the first artist to use the program, timed to his tour announcement. Eligible fans will begin receiving notifications Thursday and can start securing tickets June 23, ahead of the public sale. Spotify said it will not collect transaction fees.

For now, Reserved is limited to artists performing at Live Nation concerts, with ticket sales handled through Ticketmaster. Spotify said it plans to add more partners over time, including smaller venues and international users.

Spotify said it announced its superfan strategy in May and would use signals including streams, shares, and other activity to determine who qualifies. The company also said it would monitor activity to prevent people from using bots or artificial intelligence agents to manipulate those signals.

“It won’t be possible to snag the ticket by endlessly playing an artist’s music over and over,” Spotify said, adding that “leaving music on in the background won’t give anyone a leg up.”

Spotify said Reserved will also consider a user’s location to confirm they are near the show before making an offer.

Eligible fans will see a personalized offer on the Spotify home screen, with tour dates, the Reserved window, and a reminder option.

Spotify said there will often be more eligible fans than available seats, so not every fan will receive an offer each time.
Tech & Artificial Intelligence

Rivian sued over self-driving claims for R1 models

The suit, brought by three named plaintiffs, alleged fraud, negligent misrepresentation, and unjust enrichment.

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Rivian has been sued in a proposed class action over claims that it misled buyers about the autonomous-driving capabilities of first-generation R1T trucks and R1S SUVs.

The complaint, filed Wednesday in the U.S. District Court for the Central District of California, said Rivian told consumers the vehicles would be capable of hands-free, eyes-off driving, also known as Level 3 autonomy under Society of Automotive Engineers standards.

Level 3 means a vehicle can handle steering, acceleration, and braking in limited conditions, such as on highways or at low speeds, without the driver’s hands on the wheel or eyes on the road. Drivers are still expected to remain attentive and take over when needed.

The lawsuit alleged Rivian spent five years promoting its Driver+ system as a standard feature across its vehicles and cited public statements, including Chief Executive RJ Scaringe’s appearance at TechCrunch Disrupt 2022.

“No software update — no matter how sophisticated — will enable its Gen 1 Vehicles to perform as advertised,” the complaint said. “Rivian unquestionably knew that its Gen 1 Vehicles would never be capable of Level 3 autonomy or ‘true hands-free driving’ yet continued to tout the supposed capabilities of its vehicles to induce consumers to purchase them.”

The plaintiffs’ lawyers, Coleman Law and Tycko & Zavareei, requested a jury trial.

Rivian previously agreed to pay $250 million to settle a shareholder class action over a 2022 price increase for its R1 pickup and SUV.
US

Record 33% of U.S. adults 25-35 lived with parents

Of those, 70% had jobs, and many had college degrees, suggesting the increase was tied more to housing costs than labor market conditions.

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A record share of U.S. adults ages 25 to 35 lived with their parents in 2025, according to new data from Realtor.com, as housing costs remained elevated.

About one-third of adults in that age group, or 25.2 million people, lived at home last year, the data showed.

Realtor.com said the national median asking rent was 18% higher than before the pandemic, while the national median home listing price was 34% higher.

The report came as many young adults and recent college graduates faced a difficult economy. Roughly 40% of recent graduates are underemployed, meaning they work in jobs that do not require a degree. College graduates have also had higher unemployment rates than other workers since 2020, reversing a longstanding trend.

Inflation rose to 4.2% in May, according to data released last week by the Bureau of Labor Statistics, after higher oil prices linked to the war in the Middle East. The increase erased about a year of wage gains, which could further delay plans to move out.

Realtor.com analysts reviewed co-residence rates dating to the early 2000s and found that, if earlier patterns had continued, 4.86 million fewer young adults would be living with their parents today.
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Israel strikes southern Lebanon, Vance delays Switzerland trip

The fighting came a day after the United States and Iran signed an agreement to end the Middle East war on all fronts, including in Lebanon.

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Israel’s military said Friday that its forces struck targets across southern Lebanon overnight as Hezbollah reported intense fighting, raising pressure on a new U.S.-Iran agreement that calls for an immediate halt to military operations “on all fronts, including in Lebanon.”

Talks planned for Friday in Switzerland between the United States and Iran were postponed as mediators worked to calm the fighting, regional officials said. Vice President JD Vance had been scheduled to attend.

Lebanon’s state-run National News Agency said at least 18 people were killed in Israeli airstrikes. Israel’s military said the strikes were ongoing. Israel also said four soldiers, including a lieutenant colonel, were killed in fighting in southern Lebanon, and that five others were wounded in an explosive drone attack.

The Israeli military said it also struck targets in Lebanon’s eastern Bekaa Valley on Friday. Lebanese media said the village of Douris was hit.

Israel and Hezbollah are not parties to the U.S.-Iran agreement. Iran has said Israel must withdraw from the area of southern Lebanon it occupies, but the interim deal does not explicitly require that. Prime Minister Benjamin Netanyahu said Thursday that Israeli forces would remain in a “security zone” in southern Lebanon as long as “Israel’s security needs require it.”

President Donald Trump criticized Netanyahu’s recent moves before the agreement was signed, saying: “Without me, there would be no Israel because no other president was willing to do what I did — I have had a great relationship with Bibi. Now Bibi has to be more responsible with respect to Lebanon.”

U.S. Ambassador to Israel Mike Huckabee defended Israel on Friday in a post on X, writing: “Israel strikes when struck … Ceasefire happens when Hezbollah stops shooting & killing.”

Two regional officials, speaking on condition of anonymity to discuss the closed-door diplomacy, said mediators were focused on Lebanon. One said Iran withdrew from the Switzerland meeting over the fighting and Netanyahu’s comments, which Iran viewed as violating the interim deal.

The agreement reopened the Strait of Hormuz to shipping and returned Washington and Tehran to talks over Iran’s nuclear program. Iran’s Supreme Leader Ayatollah Mojtaba Khamenei, in his first public reaction, said direct negotiations would not mean “accepting the enemy’s opinion.”
World

Vance defends Iran deal amid GOP, Israeli criticism

Vance also warned Israeli critics to be cautious in attacking Trump, saying, “Donald J. Trump is the only head of state in the entire world who is sympathetic to the nation of Israel at this moment in time.”

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Vice President JD Vance said Thursday that the United States was not giving Iran money under President Donald Trump’s interim peace deal, and that any economic benefits depended on Iran fully complying with the agreement.

“The United States isn’t giving up a cent of money to Iran,” Vance said at a White House news conference.

His comments came as the White House faced criticism from some Republicans and Israeli officials over a 14-point memorandum of understanding that included sanctions relief, access to frozen funds, and a proposed $300 billion reconstruction plan.

Vance said, “The only way the Iranians get any of these resources … is if they comply fully” with the deal. He also said Iran was already selling oil despite U.S. sanctions, which he described as ineffective by the time of the agreement, and argued that easing sanctions could give the U.S. more insight into Iran’s financial activity.

Iran’s supreme leader, Ayatollah Mojtaba Khamenei, also described the deal as conditional. In a statement Thursday, he said he approved the memorandum after receiving assurances that Iran’s rights and the “resistance front” would be protected, and after Iranian President Masoud Pezeshkian accepted responsibility for safeguarding Iran’s interests.

Trump wrote on Truth Social that “we encourage everyone in the Middle East Region to maintain their commitment to allowing our negotiations to beautifully unfold.” He added that markets were responding positively and said, “We expect a complete Ceasefire on all fronts, including Lebanon, Hezbollah, and Israel.”

Vance said Iran’s “nuclear program has been completely destroyed” and described the agreement as the next stage of Trump’s pressure campaign. The deal, signed by Trump and Pezeshkian, paused military operations and reopened the Strait of Hormuz for at least 60 days to allow negotiations on a final agreement. Vance said that period began Thursday and could be extended.

Lawmakers in both parties criticized the agreement. Sen. Mark Warner, D-Va., called it “one of the worst follies” of Trump’s term. Sen. Ted Cruz, R-Texas, said, “History demonstrates that giving billions of dollars to theocratic lunatics who want to murder us is an exceptionally bad idea.” Sen. Roger Wicker, R-Miss., said the memorandum could undercut recent U.S. military gains.

Vance said members of Congress received, or would soon receive, a copy of the signed document, and that the administration planned a formal briefing “very soon.” He also said the administration believed it could temporarily lift some sanctions without congressional approval.
Europe

Study: Young UK men less right-leaning than older men

On issues including immigration, race, women’s rights, and homosexuality, young men were more progressive than older men.

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Young men in the U.K. were not more likely than older men to support right-leaning parties, according to a study of election data by the Institute for Public Policy Research.

The analysis, based on the British Election Study, which surveys about 30,000 people each year, found age was a stronger predictor of political views than gender. Men ages 18 to 25 were less progressive than women of the same age, but were still more progressive, and less likely to back right-leaning parties, than older groups of men.

The report may challenge claims that young men were a main force behind the recent gains of parties such as Reform UK.

Polling has shown a gender gap among younger voters. Research from King’s College London found 13% of men ages 18 to 24 voted for Reform UK in the 2024 general election, compared with 6% of women.

But the Institute for Public Policy Research said young men’s shift rightward broadly matched changes in other groups. Support for conservative parties among men ages 18 to 25 rose from about 18% in 2022 to just under 30% in 2025. Among older men, support rose from about 35% to more than 50% over the same period.

Since the election, support for Reform UK among men ages 18 to 25 rose by about 5 percentage points, less than among men and women in any older age group, the study found.
World

Hormuz traffic resumes, Lebanon strikes cloud accord

Brent crude fell another 2% to below $78 a barrel, its lowest since Feb. 28.

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About 12.5 million barrels of crude passed through the Strait of Hormuz overnight, Vice President JD Vance said Thursday, hours after President Donald Trump signed an agreement with Iran aimed at ending a war that had disrupted energy supplies.

The memorandum of understanding, also signed Wednesday by Iranian President Masoud Pezeshkian, took effect two days earlier than expected. It called for the immediate reopening of the Strait of Hormuz and the lifting of a U.S. blockade on Iran’s ports.

Shippers said traffic through the strait could take time to return to prewar levels because safe access still needed to be confirmed and mines cleared.

The agreement explicitly called for a “permanent termination” of the war in Lebanon and for Lebanon’s “territorial integrity and sovereignty” to be ensured. But Israel, which invaded Lebanon in March and has said it was targeting Hezbollah fighters in the south, was not part of the talks.

Trump had recently criticized Israel’s operations in Lebanon. Still, Israel said it did not intend to withdraw and on Thursday released a new map showing an expanded area in southern Lebanon occupied by its troops as a buffer zone.

Vance said one goal of the deal was to allow Lebanese authorities to police the south. “What we want to see is the Lebanese government, the elected representatives of the people of Lebanon, who are able to police southern Lebanon, so that Hezbollah has not taken over the country, the Israelis are not threatened, and then consequently the Israelis are not attacking southern Lebanon or Beirut either,” he said.

Two Israeli officials, including one close to Prime Minister Benjamin Netanyahu, told Reuters Israel was negotiating with Washington to keep troops in Lebanon. One described the talks as “stubborn” and said the outcome would depend on whether Trump chose to press Israel.
US Politics

Sanders proposes AI fund, $1,000 annual payments

“This revolutionary technology cannot be controlled by a handful of the wealthiest people on Earth whose sole goal is to make as much money as they can,” Sanders told reporters Thursday.

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Sen. Bernie Sanders, I-Vt., introduced legislation Thursday that would give the public a stake in the largest artificial intelligence companies and, according to his office, could fund annual $1,000 payments to everyone in the United States.

The proposal is unlikely to become law, but it adds to bipartisan interest in using public ownership to address possible economic disruption from AI. President Donald Trump said earlier this month that he is considering taking a government stake in leading AI companies, though his administration has not provided details.

OpenAI and Anthropic, maker of the Claude chatbot, have also floated ideas for giving the public a stake in their growth.

Under Sanders’s proposal, leading AI companies would pay a one-time 50% tax in stock into a sovereign wealth fund that Sanders’s office said could be worth about $7 trillion. A 5% dividend from the fund could be used to send a $1,000 annual payment to everyone in the U.S., his office estimated.

The fund would be managed by a seven-person independent commission that would also be represented on the boards of companies in the fund. Congress would create a list of nominees, and the president would choose commissioners subject to Senate confirmation.

New AI companies would enter the fund if they reached a certain size, such as $200 million in annual sales, according to Sanders’s office. The office said AI businesses within large technology companies, including Nvidia, Google, Microsoft, Amazon, and Elon Musk’s SpaceX, would be included.

Companies would have to separate their AI and non-AI businesses, though Sanders’s office did not explain how that distinction would be made.

OpenAI Chief Executive Sam Altman met with Sanders earlier this month to discuss the idea. Sanders said Altman and other AI executives are “very hard” to talk to, “because they have a gun at our heads,” citing millions of dollars that AI-aligned groups are pouring into elections.