Bill Cassidy Defeated in Louisiana Republican Primary
U.S. Senator Bill Cassidy was defeated in Louisiana's Republican primary, finishing third behind U.S. Rep. Julia Letlow and state Treasurer John Fleming, both of whom are backed by President Donald Trump. Cassidy's loss highlights Trump's continued influence over the GOP, as he targets lawmakers who have opposed him, particularly those who voted to convict him during his impeachment trial. Letlow and Fleming will compete in a runoff on June 27 for the Republican nomination.
Major Shipping Lines Halt Cuba Services Amid US Sanctions
Shipping companies Hapag-Lloyd and CMA CGM have suspended all bookings to and from Cuba, effective May 14, 2026, following a U.S. executive order issued on May 1 that expanded sanctions against the island's economy. This suspension could impact up to 60% of Cuba's shipping traffic by volume, jeopardizing the import of essential goods as the country grapples with severe shortages. The order specifically targets foreign entities involved in key sectors of the Cuban economy, including those linked to the military conglomerate GAESA, which controls a significant portion of the nation's logistics.
Minnesota Proposes First Statewide Wealth Tax on Millionaires
Minnesota's House has introduced HF 4616, a bill proposing a 1 percent annual tax on taxable wealth exceeding $10 million for individuals and trusts, effective from tax year 2026. This tax, which targets intangible personal property and real estate within the state, is expected to generate approximately $290 million annually from around 5,600 individuals, although it will not significantly address the state's projected budget shortfall of $2.7 billion for FY 2026-27. If enacted, it would mark the first broad state-level wealth tax in the U.S.
