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In our news wrap Wednesday, fighting raged for a second day in the southern Philippines, where Islamist militants have seized control of Marawi City. Thousands of residents fled amid tight security. Also, word has leaked that President Trump told Filipino President Duterte that the U.S. had two nuclear submarines off North Korea during an April phone call.
In the day's other news: The Congressional Budget Office issued its analysis of the Republican bill to replace Obamacare, a bill that passed the House of Representatives. It estimates the measure would leave 23 million more Americans without health insurance by 2026. Now, that is one million fewer than an earlier version. The report also projects deficit reduction of $119 billion over 10 years. That is slightly less than before.
We will take a closer look later in the program.
Word has leaked that President Trump disclosed that the U.S. had positioned two nuclear submarines off North Korea. The New York Times is reporting that Mr. Trump revealed the information in an April 29 phone call with Philippines President Rodrigo Duterte. According to confidential transcripts, he also praised Duterte for doing — quote — "an unbelievable job" fighting drugs. Thousands of drug suspects have been killed since Duterte took office.
Fighting raged for a second day in the Southern Philippines, where Islamist militants have seized control of a city. At least 21 people have been killed. The fighting broke out yesterday in Marawi City, on the island of Mindanao. President Duterte responded by imposing martial law.
Thousands of residents fled the area today amid tight security, as Duterte vowed to hunt down the militants.
RODRIGO DUTERTE, Philippine President:
If I think you should die, you will die. If you fight us, you will die. If there is an open defiance, you will die. And if it means many people dying, so be it.
The Philippines president also said that he might extend martial law nationwide if the Islamic State group gains a foothold.
Taiwan will become the first Asian nation to legalize same-sex marriage. The country's constitutional court ruled today that a ban on such unions violates the Taiwanese constitution. Now lawmakers have two years to enact new laws or amend the current statutes. If they do not, couples will be allowed to submit a written document to have their marriages recognized.
In economic news, Moody's rating service lowered China's credit rating by one notch because of its surging debt load. Beijing protested the decision.
And on Wall Street, the Dow Jones industrial average gained 74 points to close back above 21000. The Nasdaq rose 24 points, and the S&P 500 added six, marking a new record.
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