- Important state and national stories, market and business news, sports and entertainment, delivered in quick-hit fashion to start your day informed.
In Mississippi
1. Hosemann appoints Senate State Fiscal Policy Study Group
Lt. Governor Delbert Hosemann has named a third select study group in the Senate, this one on state fiscal policy. The study group will be co-chaired by Senate Appropriations Chairman Briggs Hopson and Senate Finance Chairman Josh Harkins.
“Our ultimate goal is always to lower the tax burden and ensure taxpayer dollars stay in taxpayer pockets,” Hosemann said in a statement. “This requires Appropriations and Finance leadership to be at the table looking at all income and expenses to ensure we are being as efficient as possible while fully funding necessary services.”
The State Fiscal Policy Study Group will hold public hearings and hear testimony on current taxes, tax credits, bonds and bond capacity, diversions, and other budget and economic issues relating to revenues and expenditures by the State. All hearings will be webcasted and archived on the Legislature’s website.
Other members of the study group include Senators Andy Berry, Bradford Blackmon, Rod Hickman, Chris Johnson, Dean Kirby, John Polk, Derrick Simmons, and Daniel Sparks.
2. AG Fitch wants answers from online retailer over alleged ties to China
Mississippi Attorney General Lynn Fitch announced Tuesday that she has joined a coalition of 21 attorneys general in demanding answers from online retailer Temu regarding their alleged ties with the Chinese Communist Party (CCP), data collection and sharing practices, and possible violations of the Uyghur Forced Labor Prevention Act (UFLPA).
“With consumers increasingly conducting business online, it is critical that they are aware of the use of their personal information and any ethical concerns surrounding the products purchased,” said Attorney General Lynn Fitch. “I am committed to pushing back against China and its alarming practices in order to protect the best interests of online users in Mississippi and across the country.”
In the letter sent to the president of Temu and the CEO of PPD Holdings Inc., Temu’s parent company, the Attorneys General outlined their concerns with the company’s business practices following reports that the company may not be following federal law.
National News & Foreign Policy
1. Trump, Harris debate officially set for Sept. 10
The Washington Post reports that two days after he suggested he could skip the debate, former president Donald Trump (R) said Tuesday he will participate in the debate next month with Vice President Kamala Harris (D).
“I have reached an agreement with the Radical Left Democrats for a Debate with Comrade Kamala Harris,” Trump said on his Truth Social platform, confirming the debate will be Sept. 10 in Philadelphia, according to WP.
“The campaigns spent Monday sparring over whether to preserve a rule from Trump’s June debate against Biden where the candidates’ microphones were muted when it was not their turn to speak,” WP reported. “The Harris campaign said the microphones should be live throughout the Sept. 10 debate, while Trump’s campaign argued for the “the exact same terms” from the June debate with CNN.”
2. Massachusetts Republicans want answers on state’s $1 billion in migrant spending
FoxNews reports that Massachusetts Republicans have submitted a formal request with the state’s government for information on the alleged “$1 billion in secret migrant crisis spending” as the Bay State grapples with the migrant crisis.
“In a release from the state’s Republican Party, MassGOP, the group demanded that Gov. Maura Healey’s administration provides a detailed cost breakdown of the toll that the migrant crisis has caused for the state’s residents,” FoxNews reported, adding, “In a Freedom of Information Act (FOIA) request, Carnevale demanded the specifics of the state’s funding to provide housing for migrants.”
FoxNews reported that the MassGOP’s request comes “after the Center for Immigration Studies (CIS) released a report on July 24, which predicted Massachusetts will struggle to manage the growing number of migrants coming to the state. The report noted that the state has already spent more than $1 billion on the Emergency Assistance sheltering program that houses migrants.”
Sports & Entertainment
1. Ole Miss home SEC matchups sold out
Ole Miss Athletics announced Tuesday that all Southeastern Conference home games on the 2024 football schedule are officially sold out. Fans looking for single-game tickets to see the Rebels at Vaught-Hemingway Stadium are now limited to non-conference matchups.
Ole Miss Athletics announced a sellout of season tickets in May. Single-game tickets that were returned from visiting team allotments for games against Furman, Middle Tennessee and Georgia Southern are on sale now at OleMissTix.com.
The SEC games against Kentucky, Oklahoma, Georgia and Mississippi State are no longer available through the Ole Miss Ticket Office.
2. Miss. State tennis duo ranked No. 1 nationally
Mississippi State Athletics touted Petar Jovanovic and Benito Sanchez Martinez being ranked the No. 1 doubles duo in all of college tennis on Tuesday.
Jovanovic and Sanchez Martinez earned top billing on the ITA’s preseason doubles rankings and became the program’s fourth tandem to hold No. 1 status and second coached by Matt Roberts. The junior duo joins Daniel Courcol and Laurent Miquelard (Nov. 8, 1992-April 20 1993), Miquelard and Joc Simmons (Dec. 7, 1993-May 10, 1994) and Nuno Borges and Strahinja Rakic (May 3-Nov. 14, 2018) as State doubles duos to stand atop the national rankings.
MSU Athletics says Jovanovic and Sanchez Martinez finished last season as All-Americans posting a 24-11 record together, including an 8-2 mark inside the Southeastern Conference. The duo knocked off a dozen ranked teams in 2023-24 and clinched eight doubles points for the Bulldogs.
Markets & Business
1. American Dream feels out of reach for most, WSJ poll shows
According to a July Wall Street Journal/NORC poll of 1,502 U.S. adults, 89% of respondents said owning a home is either essential or important to their vision of the future, but only 10% said homeownership is easy or somewhat easy to achieve.
“Financial security and a comfortable retirement were similarly labeled as essential or important by 96% and 95% of people, respectively, but rated as easy or somewhat easy to pull off by only 9% and 8%,” WSJ reported. “Twelve years ago, when researchers at Public Religion Research Institute asked 2,501 people if the American dream “still holds true,” more than half said it did. When The Wall Street Journal asked the same question in July, that dropped to about a third of respondents.”
WSJ also noted that, “Owning a home was a record 47% more expensive than renting for the 12 months ending in June, according to research by commercial real-estate services firm CBRE.”
2. Mortgage demand stalls
CNBC reports that mortgage rates fell last week for the fourth straight week, but neither current homeowners nor homebuyers seemed particularly impressed.
“Total mortgage application volume rose just 0.5% last week compared to the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index,” CNBC reported. “The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances — $766,550 or less — decreased to 6.44% from 6.50%, with points decreasing to 0.54 from 0.60, including the origination fee, for loans with a 20% down payment. That was the lowest rate since April 2023. Rates have come down more than 80 basis points from a year ago.”
CNBC went on to note, “Despite the drop, demand to refinance decreased 0.1% from the previous week. It was, however, 85% higher than the same week one year ago.”
Magnolia Tribune
