Good morning. In today’s edition:

• 🏛️ Inside the bipartisan housing bill
• 💻 Macs, iPads get more expensive
• 🦠 Hantavirus outbreak ends

…and much more.

Ready, Set, Go: Today’s news should be a ~3.99-minute read (1,061 words).

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“Always seek out the seed of triumph in every adversity.”

–Augustine "Og" Mandino II (1923-1996)

After clearing both the Senate and House this week, the bipartisan Road to Housing Act appeared to be on track to become law.

But on Wednesday, President Trump said he won't sign the bill until lawmakers also pass the SAVE America Act.

At a high level, the Trump-backed measure would:

• Require documentary proof of US citizenship to register to vote in federal elections.
• Expand voter ID requirements to include new verification rules for mail-in ballots.
• Direct states to identify and remove noncitizens from voter rolls.
• Mandate that states share voter registration rolls with the federal government.
• Establish new civil and criminal penalties for election officials who register applicants without proof of US citizenship.

But Trump’s wish is easier said than done. The SAVE America Act needs 60 votes in the Senate to overcome the filibuster, but Republicans currently don't have enough support to reach that threshold. While Trump has urged lawmakers to eliminate the filibuster to move the bill forward, Senate GOP leaders have repeatedly signaled they aren't willing to do so.

The housing bill is a different story

The bipartisan Road to Housing Act passed by 358-52 and 85-5 majorities in the House and Senate, respectively. It contains 50+ different measures, with a main focus on increasing the supply of available housing.

The bill would:

• Streamline environmental reviews and encourage local governments to ease zoning restrictions and build more housing.
• Reduce regulations on manufactured homes, lowering costs and expanding where they can be built.
• Create loans and grants to renovate abandoned homes and convert vacant office buildings into apartments.
• Limit future purchases by large institutional investors that own 350+ single-family homes.

Opponents of the measure argue it would do little to create more affordable housing and doesn’t address the skyrocketing costs of labor, building materials, or interest rates. They also say the bill's focus on homeownership falls short of addressing the needs of millions of American renters.

Looking ahead… Despite Trump's announcement, the measure is still on track for approval. Under the Constitution, a president has 10 days to sign a congressionally approved bill before it automatically becomes law.

Even if Trump vetoes the measure, lawmakers approved it by margins large enough to likely override a veto.

📊 Flash poll: In general, do you support or oppose Congress’ new bipartisan housing bill?

• Support
• Oppose
• Unsure/other

A new law passes. A company changes direction. Capital shifts from one sector to another. Most people stop at the first effect. The real story starts with what follows.

One decision can redirect capital, reshape incentives, and create consequences that spread across industries. The effects rarely stop where they start.

By the time those ripple effects reach the headlines, markets have often moved and opportunities have changed. Missing the chain reaction can leave you one step behind the people who saw it coming.

Porter & Co. examines the forces beneath the surface and follows where they lead, helping readers understand the developments that could shape the economy, market, and their portfolios.

Here are five stats from this past week that made our team go “whoa.” Hopefully you will, too.

🚀 Some 75% of everything humanity sent to space last year belonged to SpaceX, per recent calculations led by Dr. Alessio Terzi of the University of Cambridge. That figure rivals the East India Company’s 72% control over everything shipped between Europe and Asia in the 1820s.

🧑‍🧑‍🧒‍🧒 In a majority of US families with two different-sex parents (52%), both the mom and dad work full-time. It’s a new record high in Pew Research data going back to 1975, when that figure stood at 31%.

🗳️ Around 12.6 million ballots have been cast in Democratic House primaries so far this year versus 8.6 million in Republican ones, per a new Washington Post analysis.

🏀 AJ Dybantsa, this year’s #1 NBA draft pick, will earn $69 million across four years in his initial contract with the Washington Wizards.

🤖 ChatGPT’s market share among AI chatbots has dipped below 50% for the first time, as Google’s Gemini, Anthropic’s Claude, and xAI’s Grok slowly gain ground.

BUSINESS & MARKETS

• 📈 Personal consumption expenditures price index rises 4.1% year-over-year in May, with core prices up 3.4%; both figures are the highest since 2023 for the Fed’s preferred measure of inflation.
• 💻 Apple raises prices of its Macs and iPads by 15%–25% ($100–$300 for base models), citing increased costs of memory and storage chips. | Microsoft to raise prices for Xbox Series S consoles by $100-$150 starting August 1, citing soaring component costs.
• 🏦 JP Morgan Chase promotes Doug Petno and Troy Rohrbaugh to co-presidents of the firm, and names them CEOs of the bank’s two biggest businesses; decision is seen as stepping stone for either to replace CEO Jamie Dimon when he retires in ~3 years.

SPORTS, MEDIA & ENTERTAINMENT

• 🏀 Charlotte Hornets reportedly agree to trade star LaMelo Ball and Josh Green to the Minnesota Timberwolves for Naz Reid and draft picks, including a 1st-rounder and three 1st-round swaps.
• 🎭 Donkey, Eddie Murphy’s Shrek spinoff, sets summer 2028 release date. | Peppa Pig owner Hasbro receives backlash after asking child actors to sign over their voices for future AI recreation.
• 🙏 David Clayton-Thomas, lead singer of Blood, Sweat & Tears, passed away at 84.

Most Caribbean vacations end at the shoreline. At Hamanasi, you can climb ancient Maya pyramids, explore ceremonial caves hidden in the jungle, and choose from more than 30 adventures from the reef to the rainforest, making every day a new discovery.

Return to your Hamanasi retreat for renewal, personalized service, exceptional dining, and a luxury treehouse , where warm Caribbean breezes and lush surroundings create an unforgettable escape.

SCIENCE, SPACE & EMERGING TECH

• 🦧😆 All great ape species can laugh, often in the same regular, repeating rhythm that humans do, per new small study involving 13 captive apes.
• 💻 IBM’s NanoStack architecture helps scientists develop computer chips with transistors smaller than 1 nanometer for the first time; IBM says its new approach represents a generational shift that’ll eventually enable 0.1 nm transistors.
• 🦠 CDC officially ends its hantavirus response after an outbreak linked to a cruise ship after all affected US citizens finish 42-day monitoring period with no other cases reported.

US, WORLD & POLITICS

• 💥 Iran’s Islamic Revolutionary Guard Corps attacked a Singapore-flagged cargo ship in the Strait of Hormuz yesterday, per multiple reports citing US officials; IRGC later warns that any new Hormuz shipping route without Iran’s coordination is unacceptable and dangerous.
• 🧑‍⚖️ Supreme Court delivers series of decisions, including two 6-3 rulings in favor of the Trump admin in immigration-related cases, striking down state laws that require gun owners to get permission from private property owners before carrying in public areas, and blocking thousands of lawsuits over weedkiller Roundup.
• 🇻🇪 Two powerful earthquakes measured at magnitude 7.2 and 7.5 struck Venezuela late Wednesday; the quakes caused hundreds of buildings to collapse and at least 188 confirmed deaths, with thousands more feared trapped beneath the rubble.

☝️ Museums across the country are spotlighting Native American history as part of America's 250th anniversary celebration. Along the way, visitors are getting a closer look at a lesser-known tradition: Native American artists incorporating patriotic symbols into their work as a subtle way to preserve tribal identities and cultural traditions.

🤔 Did you know? Saint Lucia, the tiny island country in the Caribbean, is the only sovereign state in the world that’s named after a woman (Saint Lucy of Syracuse).

📰 Worth a read: How music videos got good again

🖱️ What we’re clicking:

• The best US state for retirement—and no, it’s not Florida or Arizona
• Why are World Cup players cutting holes in their socks?
• How to know when it’s time to replace your car

Caring doesn't mean carrying it all… Through guided meditations and breathing exercises, Mindful gives you space to put down some of the worries that aren't yours to hold. Try Mindful free today.

How well did you pay attention this week? Find out here.

1. A water bottle holds 32 ounces. You drink 3/4 of the bottle. How many ounces did you drink?
2. What’s 25% of 120?
3. A student checks out 12 books from the library. They return 5 books and then borrow 3 more books. How many books do they have now?

(keep scrolling for the answers)

🎨🎉 A Minneapolis artist built a $1 “Mini Art Vending Machine” inside Inkwell Booksellers that dispenses mystery works from local creators. Since launching last year, the project has featured 80+ artists and nearly 3,000 pieces, providing a new and creative way to connect artists with curious buyers.

1. 24 ounces
2. 30
3. 10 books

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