The Common Ills
Wednesday, July 01, 2026
The Snapshot
President Trump reaped a stunning windfall in his first year back in the White House, including about $1.4 billion from his family’s cryptocurrency businesses, a new filing shows.
All told, the president pulled in at least $2.2 billion, a figure that includes other parts of his vast holdings, such as his real estate assets. That compares to a minimum of $622 million his enterprises pulled in for all of 2024, before he returned to the presidency.
One of his biggest hauls in 2025 came when an investment firm tied to the United Arab Emirates bought nearly half of the Trump family’s main crypto company, World Liberty Financial, a transaction that blurred the line between foreign policy and private enterprise.
President Lyndon B. Johnson’s wife owned a profitable radio station. George W. Bush was on the board of an oil company while his father was in the White House. And Hunter Biden was paid by a Ukrainian natural gas company while his father was vice president.
But never before in American history has there been anything like Donald J. Trump, a president who in his first year back in office has collected about $1.4 billion in new revenues from cryptocurrency businesses that directly benefited from his actions as president, a financial disclosure report made public on Tuesday shows.
Overall, Mr. Trump’s revenue in 2025 jumped to at least $2.2 billion, compared with a minimum of $622 million in 2024 before he returned to office.
“It is completely unprecedented,” said Megan Gorman, a tax attorney and the author of a recent book, “All the Presidents’ Money,” that studied the history of presidential wealth dating back 250 years.
Generally, throughout history, Ms. Gorman and other historians said, American presidents have taken actions to try to separate themselves from corporate entanglements that might create conflicts.
“Public office, if anything, was a source of debt, not a source of revenue,” said Lindsay M. Chervinsky, a historian and the executive director of the George Washington Presidential Library at Mount Vernon.
Mr. Trump and his family have done the opposite, creating new business ventures that are profiting from actions Mr. Trump has taken since he returned to the White House.
Those include the pardon Mr. Trump issued in October to Changpeng Zhao, the richest man in crypto, who founded the company Binance, which has been a critical business partner to the Trump family’s own crypto venture. They also include legislation that Mr. Trump signed last July to promote a form of cryptocurrency called stablecoins, four months after his family-backed firm introduced its own stablecoin.
American workers' share of the economic pie has fallen to its lowest level since at least 1947, when the federal government began tracking the data, according to an analysis by Federal Reserve economists.
The measure, known as "labor share of income," tracks how much of the nation's economic output flows to workers in the form of wages and salaries, as opposed to the share that goes to investors and corporations through profits, dividends and other capital income. A shrinking labor share of income indicates that more economic gains are flowing to shareholders and business owners, rather than to workers.
As of early 2026, American workers received 54.1% of national income, according to research from the Federal Reserve Bank of New York. By comparison, that figure topped 65% almost 80 years ago, when the government began tracking the data following World War II. In early 2020, it stood at 57.7%, indicating that workers have continued to lose ground since the pandemic.
Roughly 48% of Americans said their financial situation was worse in May than a year ago, the highest share since January 2023, according to a recent survey by the Federal Reserve Bank of New York.
Three-quarters of Americans said their incomes aren't keeping up with inflation, according to a May CBS News poll. Roughly 29% of respondents said the economy was in good shape.
The U.S. Supreme Court on Tuesday upheld state bans on transgender girls and women competing in girls’ and women’s school sports, delivering a major victory to Republican-led states and a devastating defeat to trans students who had asked the justices to let them participate in public school life as themselves.
In a 6-3 decision written by Justice Brett Kavanaugh, the court ruled that Idaho and West Virginia’s laws do not violate the Equal Protection Clause or Title IX. The cases, Little v. Hecox and West Virginia v. B.P.J., centered on two transgender students: Lindsay Hecox, who sought to run track and cross country at Boise State University, and Becky Pepper-Jackson, a West Virginia girl who wanted to compete on girls’ teams at school.
The majority rejected arguments that the laws discriminate against transgender students, relying on the court’s recent decision in United States v. Skrmetti to say the bans classify students by sex, not by gender identity or transgender status. Writing for the majority, Kavanaugh said the court would not require states or schools to make athlete-by-athlete determinations about whether a transgender girl who has taken puberty blockers or hormones has retained any athletic advantage.
“Particularly in the sports context, determining the effects of the puberty blockers and hormones taken by transgender athletes — and then comparing each of those transgender athletes’ abilities to those of other individual biological males and individual biological females in the relevant sport — would be an almost impossible task for a judge to perform on an equitable basis,” Kavanaugh wrote.
As part of Trump Admin’s push to shut down the Department of Education, Trump is illegally kicking out special education programs, civil rights enforcement from Department
Washington, D.C. — Today, U.S. Senators Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee; Tammy Baldwin (D-WI), Ranking Member of the Senate Appropriations Subcommittee on Labor, Health and Human Services, and Education Appropriations; and Bernie Sanders, Ranking Member on the Senate Health, Education, Labor and Pensions Committee, led the entire Senate Democratic Caucus in demanding the Trump administration put students first, follow the law, and immediately reverse course on transferring special education programs and civil rights enforcement out of the Department of Education (ED). These latest moves are part of the Trump administration’s explicit effort to dismantle ED, threatening key funding, support and services for students, schools, and families nationwide.
“The administration’s latest attempts to dismantle the Department of Education through the four Interagency Agreements (IAA) announced June 16, 2026 are outrageous and put the educational outcomes of students and their rights in the classroom at risk,” wrote the senators in a letter to Education Secretary McMahon.
On June 16, 2026, the Trump administration announced four Interagency Agreements (IAA) that would illegally move the administration of special education programs under the Individuals with Disabilities Education Act (IDEA), and vocational rehabilitation programs authorized under the Rehabilitation Act from the ED to the Department of Health and Human Services (HHS). They also transfer fundamental civil rights enforcement responsibility away from ED to the Department of Justice (DOJ). In their letter to ED Secretary Linda McMahon, Senators Murray, Baldwin, and Sanders demand that the Trump administration follow the law in which Congress authorized these programs to be carried out by ED, including most recently in annual bipartisan funding legislation for Fiscal Year 2026.
Despite announcing this illegal transfer of programs, this Administration has refused to provide information regarding what office within HHS will carry out special education programs, leaving teachers, students, and families with even greater uncertainty about where to turn to ensure their rights are protected. Burying special education programs in a sprawling HHS with significant other responsibilities, instead of at a Department of Education a fraction of the size solely focused on education, will jeopardize outcomes for students with disabilities.
The most recent reauthorization of IDEA passed by Congress reiterates that the responsibility for administering the law is clearly vested with ED, along with various duties vested in the Secretary of Education, including allotting funds to States and carrying out oversight among other activities. However, the law does not contain any provisions that would permit ED to offload its responsibilities for special education or vocational rehabilitation programs to another agency.
“Special education and vocational rehabilitation are education programs. Any attempt to move these programs to HHS would fundamentally alter the purposes of these services, upending fifty years of work that took place at the federal, state, and local level to improve educational and employment outcomes for people with disabilities,” wrote the senators. “It appears the administration values its backward goal of dismantling ED over the faithful execution of the law and improving opportunities and outcomes for children, youth, and students with disabilities.”
These transfers come as the administration has successfully worked to undermine core functions and statutory responsibilities of ED, following sweeping and unlawful firings, workforce reductions, and reorganization last year that have already undermined the very goals of the Education Department. At the same time, ED moved almost all programs supporting elementary and secondary education to multiple agencies with limited capacity and expertise administering similar programs. Wasting time and resources to scatter education programs all over the federal government does nothing to help children and families while only making it more complicated for states and school districts to administer important federal funding. Further, isolating special education programs away from all other federal K-12 programs risks isolating students with disabilities themselves.
Meanwhile, the transfer of the Office of Civil Rights (OCR) out of ED also comes as the Trump Administration has failed to uphold the federal government’s obligations to protect students from unlawful discrimination. In 2025, ED’s OCR reached the fewest resolution agreements in over 12 years and failed to reach a single resolution agreement related to sexual harassment, sexual violence, racial harassment, discriminatory school discipline, or the seclusion and restraint of children with disabilities, with over 12,000 pending cases that were under investigation by OCR at the start of this Administration.
Despite this backlog, the administration is attempting to illegally transfer OCR’s functions to the Department of Justice’s Civil Rights Division (CRT), which has lost an estimated 75% of its civil rights staff attorneys since January 2025, making it wholly unequipped to handle the over 23,000 complaints OCR receives and evaluates annually. The Senators also raised concerns that while OCR is currently required to evaluate every single complaint it receives, DOJ CRT can pick and choose the cases it takes to court. Under this IAA, students whose complaints are not prioritized by DOJ CRT may never see their rights vindicated.
The senators reiterated that Congress appropriates annual funding to ED to help States and local educational agencies carry out programs and ensure children, youth, students, and families are served in accordance with federal law. The annual bipartisan appropriation bills approved by Congress do not provide affirmative authority to ED to transfer special education funding or vocational rehabilitation services to HHS, nor ED’s civil rights enforcement responsibilities to DOJ CRT.
“We have a simple demand: follow our nation’s education and appropriations laws as Congress wrote them to protect students’ most basic right to a quality education. More than 80 education, disability, parent, and civil rights groups have vocally opposed the recent IAAs and other departmental changes. We call on this administration to immediately cease implementing these IAAs, fully implement IDEA and the Rehabilitation Act as Congressionally directed, and take immediate action to strengthen civil rights enforcement—instead of burying students’ cases behind more bureaucracy. Our students and their families deserve nothing less,” concluded the senators.
This letter was led by Senators Murray, Baldwin, and Sanders and co-signed by Senators Chuck Schumer (D-NY), Chris Van Hollen (D-MD), Lisa Blunt Rochester (D-DE), Elizabeth Warren (D-MA), Kirsten Gillibrand (D-NY), Alex Padilla (D-CA), Jack Reed (D-RI), Angus King (I-ME), Tim Kaine (D-VA), Mazie Hirono (D-HI), Chris Coons (D-DE), John Hickenlooper (D-CO), Jeanne Shaheen (D-NH), Dick Durbin (D-IL), Adam Schiff (D-CA), Ed Markey (D-MA), Jeff Merkley (D-OR), Maggie Hassan (D-NH), Andy Kim (D-NJ), Richard Blumenthal (D-CT), Ben Ray Luján (D-NM), Mark Warner (D-VA), Amy Klobuchar (D-MN), Peter Welch (D-VT), Angela Alsobrooks (D-MD), Jacky Rosen (D-NV), Tammy Duckworth (D-IL), Cory Booker (D-NJ), Catherine Cortez Masto (D-NV), Raphael Warnock (D-GA), Martin Heinrich (D-NM), Ron Wyden (D-OR), Chris Murphy (D-CT), Brian Schatz (D-HI), Jon Ossoff (D-GA), Ruben Gallego (D-AZ), Tina Smith (D-MN), Maria Cantwell (D-WA), Mark Kelly (D-AZ), Elissa Slotkin (D-MI), Sheldon Whitehouse (D-RI), John Fetterman (D-PA), Gary Peters (D-MI), and Michael Bennet (D-CO).
The full letter is available HERE and below:
Dear Secretary McMahon:
The administration’s latest attempts to dismantle the Department of Education (“ED”) through the four Interagency Agreements (IAA) announced June 16, 2026 are outrageous and put the educational outcomes of students and their rights in the classroom at risk. These actions illegally move the administration of special education programs authorized under the Individuals with Disabilities Education Act (IDEA), vocational rehabilitation programs authorized under the Rehabilitation Act of 1973 (Rehabilitation Act), and the Workforce Innovation and Opportunity Act (WIOA) from ED to the Department of Health and Human Services (HHS). They also transfer fundamental civil rights enforcement responsibility away from ED’s Office for Civil Rights (OCR) to the Department of Justice’s Civil Rights Division (DOJ CRT). Congress authorized these programs to be carried out by ED, and Congress annually appropriates funding to ED to carry out these authorized programs, including most recently in the Consolidated Appropriations Act, 2026. The administration’s actions fly in the face of what Congress has required, directly undermine every child’s right to a quality public education in this country, and must be immediately reversed.
Since ED was established, Congress charged it with the responsibility of carrying out special education and vocational rehabilitation programs and authorized the administration of these programs under the Office of Special Education and Rehabilitative Services (OSERS). Similarly, Congress assigned civil rights enforcement responsibilities to the Assistant Secretary for Civil Rights at OCR. The Department of Education Organization Act of 1979 explicitly prohibits the Secretary from abolishing any offices established under ED and from altering any assigned delegation of functions. You have also acknowledged in congressional testimony that only Congress can determine whether to dismantle ED and its programs. Make no mistake – the IAAs rolled out by this administration dismantle ED and illegally circumvent Congress. While ED’s purported position is that these are “proofs of concept” for Congress to codify, other statements from ED and White House staff contradict the alleged “temporary” nature of these moves. Last year, the White House even claimed that ED was “abolished.” ED has not been abolished, and it is not within the administration’s authority to move the administration of these programs to any other agency. In fact, Congress affirmed on a bipartisan, bicameral basis earlier this year, “that no authorities exist for the Department of Education to transfer its fundamental responsibilities under numerous authorizing and appropriations laws, including through procuring services from other Federal agencies…” and that these agreements will “create inefficiencies, result in additional costs to the American taxpayer, and cause delays and administration challenges in Federal funding reaching States, school districts, and schools.”
Special education and vocational rehabilitation are education programs. Any attempt to move these programs to HHS would fundamentally alter the purposes of these services, upending fifty years of work that took place at the federal, state, and local level to improve educational and employment outcomes for people with disabilities. It appears the administration values its backward goal of dismantling ED over the faithful execution of the law and improving opportunities and outcomes for children, youth, and students with disabilities. This administration has refused to provide information regarding what office within HHS will carry out these weighty responsibilities under this agreement because it has not been determined. This lack of forethought demonstrates how little concern it has for students with disabilities and their learning. The administration couldn’t possibly know that this will be in the best interest of children and families because it doesn’t even know where and how these programs will be administered in the future.
The most recent reauthorization of IDEA passed by Congress, the Individuals with Disabilities Education Improvement Act of 2004, reiterates that the responsibility for administering the law is clearly vested with ED. The law also vests the Secretary of Education with various duties, including allotting funds to States; carrying out monitoring and oversight of States’ implementation; reviewing and approving State performance plans required under the law; subsequently reviewing and making annual determinations of State compliance under law; and furnishing technical assistance to States; among other activities. However, the law does not contain any provisions that would permit ED to offload its responsibilities to another agency.
Congress created a clear federal oversight role for ED because of our nation’s ugly history of denying children with disabilities a free appropriate public education. This critical federal enforcement has allowed ED to maintain accountability and find States in violation of IDEA, such as when Texas set an illegal cap on special education identification leading to a deliberate under-identification of children with disabilities and when New Mexico failed to maintain appropriate state special education funding. Clearly, federal oversight is a necessary component of our nation’s special education system. Without it, families and children with disabilities are left to fight alone to secure services they are entitled to when schools and states fail to meet their obligations.
Additionally, Congress authorized the Secretary of Education to carry out vocational rehabilitation programs in Titles I, III, V, and VI of the Rehabilitation Act. Congress directed the Secretary to undertake various responsibilities in administering the vocational rehabilitation programs, including awarding grants to designated State agencies; approving unified State plans; establishing performance standards and indicators required under the law; and supporting designated State agencies in the provision of preemployment transition services including highlighting best state practices and consulting with other federal agencies; among other activities. Unsurprisingly, the Rehabilitation Act does not contain any provisions that would permit ED to offload its responsibilities to another agency.
These important responsibilities support nearly ten million individuals with disabilities and their families throughout our nation. ED’s actions have already caused them significant harm and uncertainty. This arrangement is the latest callous attack on Americans with disabilities who need quality services and rely on federal support. It follows the sweeping and unlawful firing of 121 employees at OSERS during the government shutdown—an action Congress ultimately had to reverse. This administration’s workforce reductions and reorganization last year also eviscerated ED’s Office for Civil Rights (OCR), costing taxpayers up to $38 million, as mounting backlogs in OCR’s critical work left parents of students with disabilities in the dark about the status of their civil rights complaints. At the same time, ED moved almost all programs supporting elementary and secondary education to multiple agencies with limited capacity and expertise administering similar programs, segregating these programs from those supporting our youth with disabilities and compromising decades of progress toward inclusive education. Each of these actions has undermined ED’s ability to fulfill its obligations under IDEA and the Rehabilitation Act. ED is now illegally transferring responsibilities to HHS—an agency undergoing major disruptions and whose principal subagency charged with supporting individuals with disabilities was proposed for elimination by the administration—and DOJ—an agency that this administration is weaponizing against the American people. This is in addition to the responsibilities unlawfully assigned to other agencies through interagency agreements for which this administration still has not explained full costs, potential benefits, and operational details.
Under this administration, OCR has failed to uphold the federal government’s obligations to protect students from unlawful discrimination. ED’s decision to transfer fundamental civil rights enforcement responsibilities to DOJ CRT will only make things worse. In 2025, ED’s OCR reached the fewest resolution agreements in over 12 years and failed to reach a single resolution agreement related to sexual harassment, sexual violence, racial harassment, discriminatory school discipline, or the seclusion and restraint of children with disabilities. ED has repeatedly refused to answer basic questions regarding the status of over 12,000 pending cases that were under investigation by OCR at the start of this Administration.
Instead of correcting OCR’s disastrous track record under this administration and working to rebuild OCR after taking a hatchet to it, this administration has chosen to waste taxpayer funds attempting to illegally transfer OCR’s functions to DOJ CRT. Under this administration, DOJ CRT has lost an estimated 75% of its civil rights staff attorneys since January 2025. DOJ CRT is not equipped nor designed to handle the over 23,000 complaints OCR receives and evaluates annually. While OCR is required to evaluate every single complaint it receives, DOJ CRT uses prosecutorial discretion to pick and choose the cases it takes to court. Under this IAA, students whose complaints are not prioritized by DOJ CRT may never see their rights vindicated, meaning thousands of students facing discrimination are likely to be ignored by the federal government. This is an unacceptable outcome for the millions of students and families across the country.
Congress appropriates annual funding to ED to help States and local educational agencies carry out programs and ensure children, youth, students, and families are served in accordance with federal law. The annual bipartisan appropriation bills approved by Congress do not provide affirmative authority to ED to transfer special education funding or vocational rehabilitation services to HHS, nor ED’s civil rights enforcement responsibilities to DOJ CRT. In fact, the only transfer authority provided to ED by the annual appropriations bill is the authority to transfer one percent of discretionary funds between education appropriations accounts, so long as no such appropriation is increased by more than three percent by any such transfer. Such a limited transfer within ED is not what is contemplated here. Moreover, transfers of any other type, including the type contemplated by this IAA, are prohibited by section 512 of Division B of the Consolidated Appropriations Act, 2026, which states, “None of the funds made available in this Act may be transferred to any department, agency, or instrumentality of the United States Government, except pursuant to a transfer made by, or transfer authority provided in, this Act or any other appropriation Act.”
As with the authorizing statutes, the annual appropriations process clearly requires ED to carry out both IDEA and Rehabilitation Act programs and to operate OCR at ED. ED has the expertise in working with state educational agencies, state vocational rehabilitation agencies, and local school districts in the administration of special education and vocational rehabilitation programs and for resources and oversight in complying with federal civil rights laws. Schools in local communities and state educational agencies rely on the guidance and technical expertise from the educational experts at ED to carry out these programs. Congress recognizes the expertise that specific agencies provide and deliberately decides which agency to vest authority with when passing laws. Congress was clear when it vested ED with the authority to carry out special education programs in 2004, and vocational rehabilitation programs in 2014, and did not provide any mechanism in the law for ED to transfer that authority to another agency. The June 16th IAAs fly in the face of laws enacted by Congress, annual appropriations requirements, and practice in states.
We have a simple demand: follow our nation’s education and appropriations laws as Congress wrote them to protect students’ most basic right to a quality education. More than 80 education, disability, parent, and civil rights groups have vocally opposed the recent IAAs and other departmental changes. We call on this administration to immediately cease implementing these IAAs, fully implement IDEA and the Rehabilitation Act as Congressionally directed, and take immediate action to strengthen civil rights enforcement—instead of burying students’ cases behind more bureaucracy. Our students and their families deserve nothing less.
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