内容摘要：Kansas Attorney General Kris Kobach, a Republican named as a defendant in the lawsuit along with state ethics commission members, noted the law’s bipartisan support.

Kansas Attorney General Kris Kobach, a Republican named as a defendant in the lawsuit along with state ethics commission members, noted the law’s bipartisan support.

In the bond market, Treasury yields ticked higher with hopes for the U.S. economy. The yield on the 10-year Treasury rose to 4.48% from 4.45% late Monday.The two-year Treasury yield, which moves more closely with expectations for Fed action, ticked up to 4.01% from 3.98%.

In stock markets abroad, indexes rose across much of Europe and Asia. Stocks fell 1.9% in Hong Kong but rose 1.4% in Tokyo.Automakers were among the big gainers in Japan.Co. added 3% ahead of an announcement that it plans to lay off 20,000 of its workers as part of its restructuring efforts. The automaker said Tuesday that it racked up a loss of 670.9 billion yen ($4.5 billion) in the last fiscal year.

AP Business Writers Matt Ott and Elaine Kurtenbach and AP video journalist Alice Fung contributed.WASHINGTON (AP) — Inflation picked up last month and consumers barely raised their spending, signs that the economy was already cooling even before

from the Commerce Department showed that consumer prices increased 2.5% in February from a year earlier, matching January’s annual pace. Excluding the volatile food and energy categories, core prices rose 2.8% compared with a year ago, higher than January’s figure of 2.7%.

Economists watch core prices because they are typically a better guide of where inflation is headed. The core index has barely changed in the past year. Inflation remains above the Federal Reserve’s 2% target, making it difficult for the central bank to cut its key interest rateSpeaker of the House Mike Johnson, R-La., and President Donald Trump arrive for a House Republican conference meeting, Tuesday, May 20, 2025, at the U.S. Capitol in Washington. (AP Photo/Julia Demaree Nikhinson)

Conservatives are insisting on quicker, steeper cuts to federal programs to offset the costs of the trillions of dollars in lost tax revenue. At the same time, a core group of lawmakers from New York and other high-tax states want bigger tax breaks for their voters back home. Worries about piling onto the nation’s $36 trillion debt are stark.With House Democrats lined up against the package as a giveaway to the wealthy at the expense of safety net programs, GOP leaders have almost no votes to spare. A key committee hearing is set for the middle of the night Tuesday in hopes of a House floor vote by Wednesday afternoon.

“They literally are trying to take health care away from millions of Americans at this very moment in the dead of night,” said House Democratic Leader Hakeem Jeffries of New York.In one surprise move, the Senate quickly approved one of Trump’s top priorities, an end to taxation on certain tipped income, without objection from either party. The vote enables Democrats to try to claim victory on a potentially popular provision, even though they oppose the larger tax package. It also links them closer to Trump in ways that could be difficult once the Senate takes up the broader debate.