Trump's 100th Day Rally, PELOSI Act Targets Stock Trading, Kamala Returns： AM Update 4⧸30
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Summary
Trump celebrates 100 days in office with a Michigan rally. Senator Hawley introduces the Pelosi Act, seeking to ban members of Congress and their spouses from day trading on the job. The Canadians opt to stick with their liberal prime minister. And former Vice President Kamala Harris is set to deliver her first major remarks since her November loss. All that and more coming up in a moment on your AM Update.
Transcript
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Good morning, everyone. I'm Megan Kelly. It's Wednesday, April 30th, 2025. And this
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is your AM update. We've just gotten started. You haven't even seen anything yet. It's all
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just kicking in. President Trump celebrating 100 days in office with a Michigan rally.
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They can't believe that it's legal already. They can't believe we can currently do it.
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Most members of the public think it's already banned. And when I say actually,
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it's 100% legal, they say, why? Senator Josh Hawley introduces the Pelosi Act,
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seeking to ban members of Congress and their spouses from day trading on the job.
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The Canadians opt to stick with their liberal prime minister. Goodbye, Pierre Polyev.
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And former Vice President Kamala Harris set to deliver her first major remarks
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since her November loss. All that and more coming up in just a moment on your AM update.
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President Trump celebrating 100 days in office on Tuesday with a rally in Warren, Michigan.
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The rally concluding a day of events across Michigan, the critical swing state Mr. Trump
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took back from Dems in 2024. In the afternoon, Democrat Governor of Michigan Gretchen Whitmer
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appearing with the president just weeks after her last meeting with President Trump went viral.
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The governor then, a possible 2028 contender and vocal Trump critic, attempted to shield herself
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from the cameras using a binder, creating what looked like a weird game of peekaboo with the
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press. So I want to thank Governor Gretchen Whitmer. And you know, I'm not supposed to do that.
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She's a Democrat. They say, don't do that. Don't have her here. I said, no, she's going to be here.
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She's done a very good job. Traveling with the president, Defense Secretary Pete Hegseth,
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the secretary facing a media onslaught in recent weeks, a barrage of stories about personnel changes,
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alleged leaks and subsequent investigations, each trying to paint a portrait of a Pentagon
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in chaos. President Trump repeatedly brushing off criticism, insisting Secretary Hegseth is the man
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for the job. The president celebrating what he calls the most successful first 100 days of any
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administration in history. This is the best, they say, 100 day start of any president in history.
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And everyone is saying it. We're just we've just gotten started. You haven't even seen anything yet.
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And it's all just kicking off. Turning to the border, Mr. Trump touting his administration's
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success in driving down illegal crossings. The last administration engineered a massive
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border invasion, allowing gangs, cartels and terrorists to infiltrate our communities and rape
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and murder our citizens. And that is being nice about it. That's actually being nice about it.
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They are the worst. But standing before you today, I can proudly report that this heinous betrayal
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is over and that we have achieved the most secure border in American history.
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We've set all time records for the lowest number of illegal border crossings ever recorded. Think of
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that ever recorded. The number of illegal border crossings released into the United States is down.
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Listen to this, please. Ninety nine point nine nine nine percent.
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Also addressing the legal challenges aimed at blocking the mass deportation effort.
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We cannot allow a handful of communist radical left judges to obstruct the enforcement of our laws
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and assume the duties that belong solely to the president of the United States.
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Judges are trying to take away the power given to the president.
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On trade, the president outlining his tariff strategy and giving an update on negotiations with
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dozens of countries. They're coming from all over the world to see your president.
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They want to make a deal. They want to make a deal. And, you know, we'll make deals, but we don't have
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to. We are the ones that have the product. We are the ones that the United States, they want a piece
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of our product. We can just set the price. And remember this, we were losing five billion dollars a day
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on trade. And now we're making money on energy. Mr. Trump pointing to falling oil and gas prices
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after declaring an energy emergency on day one of his second term.
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So gasoline prices are down by a lot. Energy prices are down. Gasoline was almost four dollars
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not so long ago. And now, Mike, we just hit one ninety eight in a lot of states.
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The president also spotlighting efforts by the Department of Government Efficiency or DOGE to
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slash spending. And on day one, I created that very right now, very successful Department of
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Government Efficiency. We terminated the left wing money laundering scam known as USAID. And we
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directed all federal workers to return to the office in person or unfortunately they're fired.
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And I withdrew from the unfair and ridiculous Paris Climate Accord where we were paying
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trillions of dollars. We would have spent numbers like you wouldn't believe.
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And shouting out Elon Musk, soon stepping back from his work with the agency after backlash against
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Tesla. He's an amazing guy and he's a great American and he loves our country, loves you.
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And he's paid he's paid a big price to help. But I have a feeling it's going to end up being good
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for him. Actually, I really do. On education, President Trump highlighting his executive
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order kicking off the process of abolishing the Department of Education. Last month, they signed
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a historic executive order to begin the process of eliminating the Federal Department of Education
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and send education back to Michigan. We're going to send it back to our state, right?
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We're going to send it back to our states to run. I mean, how the hell bad can we do? We're like
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in last place. Linda McMahon, by the way, is doing a phenomenal job.
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Mr. Trump wrapping up the night of marking his early victories by setting the stage for what's next.
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The White House announcing a new deadline for the so-called big, beautiful tax bill,
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originally set for Memorial Day, now expected by July 4th. On Tuesday, Treasury Secretary Scott
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Besson, a lead negotiator on the bill, confirming the president's tax promises will be included.
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The tax bill is moving forward. It is going to give permanence to the 2017 Tax Cuts and Job Act,
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which will, back to the question on certainty, it will give American business certainty,
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will give American people certainty. And then President Trump is also adding the things for
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working Americans, no tax on tips, no tax on overtime, no tax on Social Security,
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making auto payments deductible. So that will substantially address the affordability crisis.
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The extension of the deadline reflecting ongoing negotiation between Republican lawmakers,
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largely favoring tax cuts, but divided on spending cuts. The initial framework for the budget
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negotiations, calling for a nearly $2 trillion reduction in spending. The drastic cuts sparking
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many hours of contentious negotiations on the Hill. Some lawmakers pushing for cuts to Medicaid,
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the federal health insurance program for low-income Americans. Senator John Kennedy of Louisiana,
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for example, in February, pointing out the program has grown well beyond its original goal,
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leaving taxpayers with the bill for 15 million able-bodied adults who don't have children or a job.
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Moderate Republicans, especially those in purple districts, strongly opposing any reductions to
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the program. President Trump repeatedly assuring that the only cuts to Medicaid will be in the form
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of eliminating fraud and waste. Other cost-saving proposals include eliminating green energy tax
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credits, though those remain under discussion. Another proposal to close the gap now officially off the
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table, a new tax bracket for earners making more than $1 million per year. A proposal pushed by Trump
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advisor Steve Bannon in recent weeks. Secretary Besson on Monday officially confirming that option
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is not in consideration. Coming up, one senator taking aim at Nancy Pelosi and other lawmakers with
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incredible, indeed unbelievable, luck in the stock market. And she's back. Former Vice President
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Kamala Harris set to insert herself back into the national spotlight with her first major remarks
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On Monday, Republican Senator from Missouri, Josh Hawley, reintroducing the Preventing Elected Leaders
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from Owning Securities and Investments Act, more broadly known as the Pelosi Act, banning members of
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Congress and their spouses from trading or holding individual stocks while in office. Mr. Hawley
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originally introducing the bill in 2023, though it failed to gain traction. At a 2024 hearing, the
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senator defending the bill as a common-sense measure.
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I just think that this is such a simple proposition. The American people, when I go home and I say to
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folks, they ask me about stock trading, here's the thing that absolutely stuns them. They can't believe
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that it's legal already. They can't believe we can currently do it. Most members of the public think
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it's already banned. And when I say actually it's 100% legal, they say why? And there's no good
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answer to that question. We should be here to focus on the public's business, not private gain.
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We shouldn't be here day trading. We shouldn't be here focusing on our stock portfolios. We should
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be here doing what the American people sent us to do. And that's what this bill is about.
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The bill follows years of scrutiny over rapidly growing net worths of members of Congress on both
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sides of the aisle. Under current law, members of Congress must report any trades over $1,000 within 30
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to 45 days. Few portfolios drawing more attention than that of the Pelosi family. Former Speaker Pelosi's
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husband, venture capitalist Paul Pelosi, making tens of millions in recent years. In January,
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the trading platform Autopilot reporting that the Pelosi portfolio outperformed nearly every major hedge
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fund in 2024. Imagine that. Ms. Pelosi denies sharing any information with her husband. Americans
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overwhelmingly favor a ban on this kind of trading, and Democrats have openly supported
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a ban, too. House Minority Leader Hakeem Jeffries recently made that explicit. Whether House Speaker
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Mike Johnson or Senate Majority Leader Thune will support this bill is unclear. However, President
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Trump recently told Time magazine he would sign legislation banning stock trading, saying, quote,
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well, I watched Nancy Pelosi get rich through insider information, and I would be OK with it. If they
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send that to me, I would do it. Canadian Prime Minister Mark Carney will remain in office. The
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Canadian Broadcasting Corporation projecting a liberal minority government, meaning Mr. Carney's
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party will need to form coalitions with minority parties to pass legislation. The victory marking a
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dramatic comeback for the Liberals, at one point trailing the Conservative Party by as much as 25% in the
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polls. The surge fueled in part by President Trump's tariff war and suggestions about annexing Canada,
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rallying support around Mr. Carney. Mr. Carney, a former banker with no prior experience in office
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before his March win to succeed Justin Trudeau, promising to hold firm in the face of mounting U.S.
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pressure. We are once again at one of those hinge moments of history. Our old relationship with the
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United States, a relationship based on steadily increasing integration, is over. The system of
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open global trade anchored by the United States, a system that Canada has relied on since the Second
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World War, a system that, while not perfect, has helped deliver prosperity for a country for decades,
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is over. These are tragedies, but it's also our new reality. We are over the shock of the American
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betrayal, but we should never forget the lessons. We have to look out for ourselves, and above all,
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we have to take care of each other. Conservative Party leader, populist Pierre Polyev, not only failing to
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win control of Parliament, but losing his own seat to a liberal challenger. Boy, did he turn out to be a
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disappointment. Despite that loss, the rest of the Conservative Party making significant gains,
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winning more seats than in any election since former Prime Minister Justin Trudeau's first victory in
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2015. Former Vice President Kamala Harris set to deliver her first major remarks since losing to
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President Trump in November. Ms. Harris headlining a gala for Emerge America, a group dedicated to
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electing more Democrat women. Tickets to the swanky affair ranging from $50,000 to $250 for general
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admission. Virtual livestream tickets also available for $25. A source with knowledge of the speech
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offering to the LA Times, quote, she will reflect on the enduring promise of America and issue a call
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to action in the face of reckless economic policies and the urgent and escalating crisis facing America's
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institutions and global leadership. The big question on everyone's mind, which version of Kamala Harris
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will show up? Have you no empathy, man? You know, for the suffering of other people. You better thank
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a union member for sick leave. You better thank a union member for paid leave. You all helped us win in
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2020 and we're going to do it again in 2024. Hello to all my divine nine brothers and sisters.
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I'm going to win. I'm going to win. But it's tight. Ms. Harris is currently weighing a run for
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California governor in 2026, a final decision expected later this summer. And that'll do it for
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your AM update. I'm Megan Kelly. Join me back here for The Megan Kelly Show live on SiriusXM Triumph
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channel 111 at noon east on youtube.com slash Megan Kelly and on all podcast platforms.