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News Wrap: U.S. Treasury to borrow record $3 trillion in 2nd quarter

In our news wrap Monday, the U.S. Treasury will borrow nearly $3 trillion this quarter to cover pandemic relief. That record number is well over twice the total for all of 2019. Also, Israel's Supreme Court is hearing legal challenges to the governing coalition Prime Minister Benjamin Netanyahu formed with former rival Benny Gantz in April. Netanyahu’s defense team argued the bloc is legitimate.

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  • Judy Woodruff:

    In the day's other news: The U.S. Treasury said that it will borrow a record amount of money in this quarter to cover pandemic relief, nearly $3 trillion. That's well over twice the total for all of last year.

    Meanwhile, Treasury Secretary Steven Mnuchin warned that it's hard to tell if international travel can restart this year on anything more than a limited basis. He said Americans should focus on resuming domestic travel.

    For the first time ever, the U.S. Supreme Court justices heard oral arguments by phone today from their homes or offices due to the pandemic. And in another first, the audio was heard live. The case involved whether the travel Web site Booking.com has the legal right to trademark its name.

    We will take a closer look later in the program.

    The Supreme Court of Israel heard legal challenges today to Prime Minister Benjamin Netanyahu's governing coalition. He struck a deal last month with former rival Benny Gantz. Among other — and among things, it lets Netanyahu remain in office, despite facing trial on corruption charges.

    His defense team argued today to a panel of 11 judges, all in face masks, that the governing bloc is legitimate.

  • Michael Rabello (through translator):

    We are in a situation where, in fact, inside this government are the two poles of the Israeli public. It's not that the government is not formed. The coalition and opposition were brought into the government and were given the possibility to serve together.

  • Judy Woodruff:

    If the court rejects the coalition deal, it could trigger a forth election in a little more than a year. Separately, the justices are considering whether Netanyahu can remain in office.

    Back in this country, the secretary of the U.S. Senate declined Joe Biden's request to release any potential records on file involving a sexual assault allegation. The secretary cited confidentiality rules. Former staffer Tara Reade says that then Senator Biden assaulted her in 1993, and that she filed a report.

    The Pulitzer Prizes for journalism are out. ProPublica and The Anchorage Daily News were honored today for exposing a lack of policing in Alaskan villages.

    The New York Times won for international reporting on the Russian government, plus two other prizes. And The Washington Post won for its reporting on the environment.

    In the arts, the musical "A Strange Loop" by Michael R. Jackson took the drama prize.

    And Colson Whitehead received his second fiction prize, this one for "The Nickel Boys" about a reform school in Florida.

    On Wall Street today, managed modest gains today. The Dow Jones industrial average added 26 points to close at 23749. The Nasdaq rose 105 points to close at 8711. And the S&P 500 was up 12.

    And the winningest coach in pro football history, Don Shula, has died at his home in South Florida. He had 347 victories with the Baltimore Colts and the Miami Dolphins. In 1972, he led Miami to the NFL's only undefeated season, winning a Super Bowl that year and the next.

    Don Shula was 90 years old.

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