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Small Business Administration shuts out non-U.S. citizens from its main lending program

Updated on: February 3, 2026 / 4:18 PM EST / CBS News

The Small Business Administration is barring green card holders and other non-U.S. citizens from applying for loans from the agency’s main lending program.

Starting March 1, only U.S. citizens or nationals who have their chief residence in the U.S. or legal territories will be eligible to borrow money under the agency’s 7(a) program.

“SBA is requiring that 100% of all direct and/or indirect owners of a small business applicant be U.S. Citizens or U.S. Nationals who have their Principal Residence in the United States, its territories or possessions,” the SBA said Monday in a policy notice.

Under a previous SBA notice released in December, up to 5% of a small business could be owned by foreign nationals or legal permanent residents and still legally qualify for a loan.

The SBA said the new rules align with President Trump’s January 2025 executive order, called the “Protecting the American People Against Invasion,” that the White House said at the time was aimed at enforcing U.S. immigration laws and ensuring public safety.

Maggie Clemmons, a spokesperson for the SBA, said the agency’s new guidance is intended to create job opportunities for U.S. citizens.

“The Trump SBA is committed to driving economic growth and job creation for American citizens – which is why, effective March 1, the agency will no longer guarantee loans for small businesses owned by foreign nationals,” she said in a statement to CBS News. “Across every program, the SBA is ensuring that every taxpayer dollar entrusted to this agency goes to support U.S. job creators and innovators.

“To that end, we expect to be able to offer them even more capital in the near future pending legislation to increase SBA loan limits for small businesses that are hiring, building and producing in America,” Clemmons added.

The 7(a) program provides loan guarantees to lenders serving small businesses, according to the SBA. It allows business owners to borrow up to $5 million to use as working capital, refinance debt, purchase equipment, and buy or upgrade real estate and buildings, among other purposes.

New policy draws fire

Advocates for small businesses and immigrants slammed the new SBA rules, saying they could stymie entrepreneurship. Carolina Martinez, CEO of CAMEO Network, a network of small business support groups, said that immigrants start new enterprises at twice the rate of U.S.-born residents, citing research from the University of California and the National Bureau of Economic Research.

“The SBA’s decision to bar legal permanent residents from accessing SBA loans jeopardizes business creation and hurts the economy,” Martinez said in a statement Tuesday. “America thrives because people come here from around the world to follow their dreams, bringing new ideas and building businesses.”

CAMEO Network said it plans to work with lawmakers to fight the guidance, which it characterized as discriminatory.

Democratic members on the U.S. Senate Committee on Small Business and Entrepreneurship also criticized the SBA policy, calling it a “devastating attack on immigrant entrepreneurs.”

“The Trump administration is stoking the flames of hatred, spreading fear and confusion among immigrants and small business owners,” Edward J. Markey of Massachusetts and Nydia Velázquez of New York said in a joint statement on Monday. “Rather than support hardworking legal immigrants to start or expand a business, the Trump SBA is choosing hatred by barring green card holders from receiving an SBA loan. The administration’s message to immigrants is clear: You are not welcome to pursue the American Dream.”

Edited by Alain Sherter

https://www.cbsnews.com/video/how-trumps-tariffs-could-impact-american-small-businesses/

Mexico to send US minimum water volume per year, US officials say

By Jasper Ward and Brendan O’Boyle

WASHINGTON/MEXICO CITY, Feb 3 (Reuters) – Mexico has agreed to deliver at least 350,000 acre-feet of water per year to the United States, the U.S. secretaries of state and agriculture said in a joint statement on Tuesday, after U.S. and Mexican officials met recently to negotiate deliveries under a water treaty.

“The agreement reached makes it possible to strengthen the orderly management of water resources in the Rio Grande basin and to move toward planning with greater predictability and shared responsibility in the face of the effects of drought,” the Mexican foreign ministry said in a statement.

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As a result of negotiations, Mexico has also committed to a detailed plan to fully repay all outstanding water debt accrued during the previous cycle, according to the U.S.

Mexico and the U.S. will hold monthly meetings to ensure timely, consistent deliveries and prevent future deficits.

Mexico said it agreed to guarantee delivery of a minimum annual volume of water, noting that deliveries will depend on hydrological conditions and that human consumption and agriculture would be prioritized.

“The Department of State, Department of Agriculture, and the U.S. International Boundary and Water Commission have worked to secure Mexico’s commitment to meet its obligations under the 1944 Water Treaty, while also providing a plan to eliminate the deficit from the prior cycle, strengthening water security for Texas communities and U.S. agriculture,” U.S. Secretary of State Marco Rubio said.

In December, U.S. President Donald Trump accused Mexico of violating the 1944 agreement governing water sharing through a network of dams and reservoirs. The treaty requires Mexico to deliver 1.75 million acre-feet of Rio Grande water to the United States every five years.

The Latin American country, the largest trading partner of the U.S. in 2024, has at times struggled to make its deliveries, citing drought conditions fueled by climate change and local demand.

U.S. officials said Trump and Mexican President Claudia Sheinbaum discussed the treaty when they spoke last week and reaffirmed their commitment to resolving longstanding water management challenges and supporting communities and producers on both sides of the border, according to the joint statement.

Reporting by Jasper Ward and Brendan O’Boyle, Writing by Christian Martinez, editing by Susan Heavey, Rod Nickel

Intelligence watchdog shares whistleblower complaint involving Gabbard with Congress after monthslong delay

February 3, 2026 / 5:32 PM EST / CBS News

An intelligence community watchdog has handed over a highly classified whistleblower complaint that includes an allegation of wrongdoing by Director of National Intelligence Tulsi Gabbard to top congressional leaders, following months of delay tied to classification disputes, a government shutdown, and leadership turnover at Gabbard’s office, CBS News has learned.

File: Director of National Intelligence Tulsi Gabbard at the White House, Oct. 23, 2025. Alex Wong / Getty Images

In a Feb. 2 letter to the leaders of the House and Senate intelligence committees, intelligence community Inspector General Christopher Fox said he received final approval on Jan. 30 from Gabbard to share the material with a tight circle of lawmakers. The complaint had originally been filed eight months earlier, on May 21, 2025.

According to Fox’s letter, which was labeled as approved for public release on Feb. 3 and obtained by CBS News, the complaint was “administratively closed” by the intelligence community Inspector General’s office in June 2025, under prior leadership, and no further investigative steps were taken – a fact Fox said undercut notions that the matter was an “urgent concern” requiring prompt congressional notification.

“[I]f the same or similar matter came before me today, I would likely determine that the allegations do not meet the statutory definition of ‘urgent concern,’” Fox wrote.

Fox hand-carried the highly classified complaint to Congress on Monday evening, according to a spokesperson for his office. During that engagement, several members and staff of the Gang of Eight — the small group of congressional leaders who oversee the intelligence community — reviewed the complaint on a “read-and-return” basis. They also received copies of former Acting intelligence community Inspector General Tamara Johnson’s original and supplemental determination memos, the spokesperson said.

The whistleblower complaint, filed last May by an intelligence community employee, alleged that a highly classified report was deliberately limited in distribution for political reasons. It also alleged that an intelligence agency’s legal office failed to refer a potential crime to the Justice Department, again for political reasons, according to Fox’s letter.

The handover of the complaint comes one day after public news reports revealed its existence, first detailed by The Wall Street Journal. News of the holdup sparked immediate questions about whether political considerations delayed action and sidestepped oversight of a legally protected whistleblower complaint involving the nation’s top intelligence official.

In a statement, House Intelligence Committee Chairman Rick Crawford, an Arkansas Republican, said he and Ranking Member Jim Himes had, along with staff, reviewed the complaint.

“After doing so, I concur with the conclusion that the Biden-era IC IG, Tamara Johnson, reached regarding the non-credible nature of the complaint and the re-review that the current IC IG, Chris Fox, conducted, reaching the same conclusion,” Crawford said. “The ensuing media firestorm—fed by speculation and little fact—was an attempt to smear Director Gabbard and the Trump Administration.”

Speaking earlier in the day to the press, Senate Intelligence Committee Vice Chairman Mark Warner said he would view the complaint “imminently” and criticized Gabbard for the months-long delay.

Rachel Cohen, a spokesperson for Warner’s office, added, “This timeline makes unmistakably clear that Director Gabbard does not understand the basic obligations of her role – the predictable result of placing someone out of her depth in one of the nation’s most sensitive positions.”

“During her confirmation hearing, Director Gabbard pledged under oath to protect whistleblowers and respect Congress’s oversight role, commitments that come with this office whether she understands them or not,” she said.

Spokespeople for Himes and Senate Intelligence Committee chairman Tom Cotton declined to comment.

Fox, who was nominated by President Trump and previously served as an aide to Gabbard, was narrowly confirmed by the Republican-controlled Senate to his role in a 51-47 vote split along party lines in late October. His predecessor, Tamara Johnson, was a career official who had served as the intelligence community acting inspector general in an interim role during the Biden administration. She is still employed by the inspector general’s office.

At the time the complaint was submitted, Johnson determined that the complaint met the legal definition of an “urgent concern” if the allegations were true, but said she could not determine whether they were credible.

That determination gave the whistleblower the right under federal law to take the complaint directly to Congress.

Three days later, after receiving additional information, Johnson issued a follow-up memo concluding that the first allegation was not credible and that she still could not assess the second. (The later finding did not change the whistleblower’s legal right to notify Congress.)

According to the timeline Fox set forth in the letter, the complaint sat for months while his office sought clearance for legal officials within the Office of the Director of National Intelligence to view the highly classified material. Other reasons for the delay, he wrote, included what he called “complexity in the classification,” a 43-day government shutdown that began Oct 1, 2025, and leadership changes at ODNI, including the confirmation of a new general counsel.

After gaining access to the complaint in late October, Fox said he was held up by clearance issues from discussing it with ODNI’s top lawyer, Jack Dever, who was unable to view the complaint until Dec. 1.

On Dec. 4, Fox and Dever raised the issue directly with Gabbard. According to the letter, Gabbard said at the time that she had not previously been told that clearance to share the complaint with Congress was pending, but would provide it as soon as possible. Later that day, Dever indicated the guidance was forthcoming, “pending a review by the White House Counsel for a potential assertion of executive privilege.”

Almost two months later, on Jan. 30, the DNI’s security guidance came through, according to Fox’s letter.

The White House did not immediately respond to a request for comment.

Fox stressed that the intelligence underlying the complaint was exceptionally sensitive. He said only one previous whistleblower case, in 2020, required such tightly controlled delivery to Congress, and that the information at issue would normally be shared only through oral briefings to senior congressional leaders.

On Tuesday, before news emerged that the complaint had been handed over, the whistleblower’s attorney, Andrew Bakaj, told CBS News ODNI had been withholding it from Congress without explanation.

“If this was challenging initially to get to members of congress, all that had to be done was somebody picking up the phone, alerting the Hill that, ‘Hey, we got something that’s coming your way. We’re trying to figure out how to get it to you because of, you know, some complexities.’”

“But the process can move. It does move. It does not take eight months to get something like this to the Hill,” he said.

Read the full letter here:

Intelligence community inspector general letter shared with Congress

Whistleblower’s lawyer on Tulsi Gabbard

https://www.cbsnews.com/video/whistleblowers-lawyer-says-tulsi-gabbard-has-stalled-review-of-complaint-for-months/

Whistleblower’s lawyer says Tulsi Gabbard has stalled review of complaint for months

(05:49)

Illinois Gov Pritzker donates $5M to super PAC backing lieutenant governor’s Senate campaign

February 3, 2026 2:23pm EST / Fox News

Illinois Gov. JB Pritzker has stepped in with significant financial support for a super PAC aiding the Senate campaign of his lieutenant governor, Juliana Stratton, as she seeks to gain traction in next month’s Democratic primary for an open seat.

Pritzker donated $5 million in December to Illinois Future PAC, according to a campaign finance report posted on the Federal Election Commission website.

NBC News reported that contributions from Pritzker and his family members – including more than $1 million contributed by cousin Jennifer Pritzker – made up nearly the entirety of the super PAC’s $6.3 million raised last year.

The primary elections for the crowded Senate race are scheduled for March 17.

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Stratton and Democratic Illinois Reps. Raja Krishnamoorthi and Robin Kelly participated in a debate hosted by WBEZ, the Chicago Sun-Times, the University of Chicago’s Institute of Politics and International House in late January.

The trio discussed a range of topics including whether they would support Senate Minority Leader Chuck Schumer if elected.

Krishnamoorthi said he was undecided and would “hear his pitch.” “I haven’t decided,” he told the moderators at the debate.

PRITZKER CLAIMS COUNTRY UNDER TRUMP WORSE THAN COVID PANDEMIC WHERE PEOPLE DIED ‘IN DROVES’

Kelly said her support would depend on who might run against Schumer.

Stratton, however, delivered a firm rejection, saying she has already made her position public.

“No, and I’ve already said that I will not support Chuck Schumer as leader in the Senate, and I’m the only person on this stage that has said so,” she said.

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Stratton received Pritzker’s endorsement in April as she campaigns to succeed Sen. Dick Durbin, who has said he will not seek a sixth term.

NBC News reported that Krishnamoorthi, the leading Democratic candidate in the Senate race, has built a massive war chest, pouring roughly $20.5 million into television advertising since July, according to data from AdImpact.

Ashley Carnahan is a writer at Fox News Digital.

https://www.foxnews.com/video/6383632113112

Clintons to testify in Epstein congressional probe later this month, contempt vote on hold | Reuters

By Ryan Patrick Jones and David Morgan

WASHINGTON, Feb 3 (Reuters) – Former U.S. president Bill Clinton and 2016 Democratic presidential nominee Hillary Clinton will testify later this month in a congressional investigation into the late sex offender Jeffrey Epstein, Republican U.S. Representative James Comer said in a statement on Tuesday.

Hillary Clinton will appear before the House Oversight Committee on February 26 and Bill Clinton will do so on February 27, said Comer, who chairs the committee. Both depositions will be transcribed and filmed.

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“We look forward to questioning the Clintons as part of our investigation into the horrific crimes of Epstein and (Ghislaine) Maxwell, to deliver transparency and accountability for the American people and for survivors,” Comer said.

The Clintons agreed to appear before the committee in person after the Republican-led House of Representatives planned a vote to hold the two prominent Democrats in contempt, which could have led to criminal charges.

The House Oversight Committee recommended last week that the Clintons be held in contempt for refusing to testify about their relationship with Epstein. The Clintons had previously offered to cooperate with the panel but not appear in person, saying the investigation was a partisan exercise aimed at protecting Republican President Donald Trump.

U.S. House Speaker Mike Johnson said plans for the contempt vote were being put on hold for the moment.

“Contempt is on pause to ensure that everybody goes through with their obligation,” Johnson said. Asked whether the Clintons would be allowed to testify in public, Johnson said: “I have to talk to Chairman Comer about that. It’s his operation.”

Spokespeople for Bill and Hillary Clinton didn’t immediately respond to requests for comment.

The U.S. Justice Department’s recent release of millions of internal documents related to Epstein has revealed the late financier and sex offender’s ties to many prominent people in politics, finance, academia and business – both before and after he pleaded guilty in 2008 to prostitution charges.

Bill Clinton flew on Epstein’s plane several times in the early 2000s after leaving office, while photos released by the Justice Department show him swimming and posing with women whose faces are redacted. He has expressed regret about the relationship and said he knew nothing about Epstein’s criminal activity.

Epstein’s 2019 death in a Manhattan jail cell was ruled a suicide. Ghislaine Maxwell, a British socialite and Epstein’s former girlfriend, is serving a 20-year prison sentence after being convicted of sex trafficking of a minor and other charges.

Reporting by David Morgan in Washington; Writing by Ryan Patrick Jones in Toronto; Editing by Rosalba O’Brien

MTG tells podcaster why she thinks MAGA ‘was all a lie’ for her | CNN Politics

By Erin Burnett, CNN
Published 4:20 PM EST, Tue February 3, 2026

Former Republican congresswoman and Trump loyalist, Marjorie Taylor Greene sounded the alarm on the MAGA movement, calling it was a “big lie” in a podcast interview.

1:22 • Source: CNN

Texas Democratic Senate primary erupts after Talarico accused of remark about ‘mediocre Black man’ | Fox News

By Paul Steinhauser | Fox News
Published February 3, 2026 11:20am EST

TikTok influencer Morgan Thompson alleged that state Rep. James Talarico, who is running for Senate in Texas, called former Rep. Colin Allred a “mediocre Black man.”

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In the blockbuster Senate race in Texas, where the combustible GOP primary has been grabbing most of the headlines, it’s the Democratic showdown that’s now being swept up in a political firestorm.

State Rep. James Talarico, one of the two major Democrats running for their party’s nomination in the red-leaning state, was accused over the weekend by an influencer of calling his former rival a “mediocre Black man.”

Talarico later responded by saying the claim was a “mischaracterization of a private conversation.”

The accusation comes with just one month to go until primary day in Texas, with Talarico facing off against Rep. Jasmine Crockett, a progressive firebrand and rising Democratic Party star with a large social media following who is known as a vocal critic of President Donald Trump.

Morgan Thompson, the influencer who goes by the username @morga_tt on TikTok, in a social media post on Sunday accused Talarico of saying in a private conversation with her last month that he had “signed up to run against a mediocre Black man, not a formidable, intelligent, Black woman.”

JASMINE CROCKETT SAYS SHE DOESN’T NEED TO CONVERT TRUMP SUPPORTERS IN HER TEXAS SENATE BID

Democratic Texas State Rep. James Talarico speaks during a campaign launch rally on September 9, 2025, in Round Rock, Texas.(Brandon Bell/Getty Images)

Talarico was allegedly referring to former Rep. Colin Allred, the 2024 Democratic Senate nominee who was making a second straight run this cycle until ending his campaign just before Crockett announced her candidacy. Both Allred and Crockett are Black, and Talarico is White.

Pushing back against Thompson’s characterization of their conversation, Talarico said in a statement, “In my praise of Congresswoman Crockett, I described Congressman Allred’s method of campaigning as mediocre — but his life and service are not. I would never attack him on the basis of race.”

FIERCE TRUMP CRITIC CROCKETT SHAKES UP HIGH STAKES SENATE RACE

Allred, responding in a social media video on Monday, said: “James, if you want to compliment Black women, just do it. Just do it. Don’t do it while also tearing down a Black man.”

After dropping his Senate campaign, Allred is now running for Congress in the state’s 33rd District against Rep. Julie Johnson, a fellow Democrat.

Former Rep. Colin Allred, the 2024 Democratic Senate nominee in Texas, ended his 2026 Senate campaign and launched a congressional bid in an effort to return to the House.(Reuters/Marco Bello)

Allred, a former college football star who went on to play professionally in the NFL, and later became a civil rights lawyer, said he would be endorsing Crockett after initially staying neutral.

Crockett said in a statement that Allred “drew a line in the sand.”

“He made it clear that he did not take allegations of an attack on him as simply another day in the neighborhood, but more importantly, his post wasn’t about himself,” she said. “It was a moment that he decided to stand for all people who have been targeted and talked about in a demeaning way as our country continues to be divided.”

CROCKETT ACCUSES LIBERAL PODCAST HOSTS OF RACIAL MOTIVE IN CRITICISM OF HER TEXAS SENATE BID

The fireworks, which have the potential to rock the Democratic primary race, come as the latest polling suggests a competitive primary between Talarico and Crockett, with most Black voters supporting Crockett and a majority of White and Latino votes backing Talarico, former middle school teacher and Presbyterian seminarian who is also seen as a rising Democrat.

Rep. Jasmine Crockett, D-Texas, speaks after announcing her run in the Democratic primary for U.S. Senate Monday, Dec. 8, 2025, in Dallas.(LM Otero/AP Photo)

But a veteran Texas-based Democratic consultant called the criticism of Talarico “entirely overblown.”

“I’ve seen a lot of hard-hitting attacks in Senate races around the country, but attacking a candidate for what might have been said about a past candidate is not one of them,” added the consultant, who asked to remain anonymous to speak more freely.

CORNYN TORCHES DEMOCRATIC SENATE PRIMARY FIELD IN TEXAS

But the allegations once again inject race into the Democratic primary, where some questions about Crockett’s electability statewide appear to be related to race.

Longtime Texas-based Republican strategist Brendan Steinhauser told Fox News Digital the episode is “not great” for Talarico.

“I think this dustup doesn’t really help him,” Steinhauser argued. “I think it makes him lose some of the momentum he’s had in the past few weeks.”

Left: Texas Attorney General Ken Paxton. Center: Sen. John Cornyn, R-Texas. Right: Rep. Wesley Hunt, R-Texas.(Official website of Texas Attorney General Ken Paxton; Kevin Dietsch/Getty; Bill Clark/CQ-Roll Call, Inc via Getty Images)

Up until now, most of the political crossfire has been in the Republican primary, where longtime GOP Sen. John Cornyn is being challenged by Texas Attorney Gen. Ken Paxton and by Rep. Wesley Hunt.

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Unlike the Democratic primary, where Crockett and Talarico are the only major candidates, the three-way Republican race may be headed towards a May runoff, which would be triggered if no candidate tops 50% in the March primary.

Paul Steinhauser is a politics reporter based in the swing state of New Hampshire. He covers the campaign trail from coast to coast.

Uruguay President Orsi defies Trump ‘Donroe Doctrine’ with China deals | Fox News

By Morgan Phillips | Fox News
Published February 3, 2026 10:54am EST

Uruguayan President Yamandú Orsi stood alongside Xi Jinping in the Great Hall of the People Tuesday, becoming the first South American leader to openly defy the Trump administration’s “Donroe Doctrine” by signing a flurry of strategic trade deals with the Chinese Communist Party.

Xi told Orsi that China and Uruguay should work together toward an “equal and orderly multipolar world and an inclusive, universally beneficial economic globalisation,” according to pool media reports.

Xi said China supported Latin American and Caribbean nations in upholding their sovereignty and development interests and would help defuse international volatility and “escalating unilateral bullying.”

Orsi said China and Uruguay’s relationship was going through its “best moment” and said both nations should “commit to raising it to a new level.”

[MADURO MET CHINESE ENVOY HOURS BEFORE US CAPTURE FROM CARACAS AS BEIJING SLAMS OPERATION]

Uruguayan President Orsi met with Chinese President Xi Jinping, defying the “Donroe Doctrine.”(Jessica Lee/Pool via Reuters)

Orsi and his delegation of 150, including Uruguayan business leaders, will be in Beijing and Shanghai through Saturday.

The meeting serves as a direct litmus test for the “Donroe Doctrine” — the Trump administration’s 2025 update to the Monroe Doctrine that asserts absolute U.S. “deterrence and dominance” over the Western Hemisphere.

Trump signaled his willingness to follow through on the doctrine with strikes on Caracas, Venezuela, and a mission to capture Nicolás Maduro.

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Orsi signed 12 deals to collaborate with China.(Jessica Lee/pool via Reuters)

Trump declared “American dominance in the Western Hemisphere will never be questioned again” after the Jan. 3 operation.

The Trump corollary to the White House’s National Security Strategy specifically lists”ownership of key assets” by foreign adversaries as a violation of U.S. interests.

Orsi signing 12 deals may pose a direct “ownership” challenge. The deals outline cooperation in areas ranging from science and technology to the environment, intellectual property and the meat trade.

China was the top destination for Uruguayan exports in 2025.

The meeting comes amid a slew of visits by Western leaders to China since the start of 2026: in late January Britain’s Keir Starmer was in Beijing promising to strengthen trade cooperation. The week before that Canadian Prime Minister Mark Carney inked a major trade deal with Xi.

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China “is willing to work with Uruguay and other regional countries to deepen and solidify the building of a China-Latin America community with a shared future,” Xi said.

Asked to comment on the meeting, White House spokesperson Olivia Wales said: “President Trump has undoubtedly restored American strength in the Western Hemisphere, showing the entire world that the days of Biden-era weakness are over. He has effectively stopped our backyard from becoming a refuge for drug traffickers, Iran proxies, and criminals that endanger our national security. He will continue to deliver on that mission, making America – and the world – safer and more secure.”

Texas Dem Senate candidate’s ‘mediocre’ comment rocks race

James Talarico faces backlash after TikTok influencer Morgan Thompson alleged that he made a remark about former Rep Colin Allred after a town hall

By Rachel Wolf Fox News

Published February 3, 2026 1:19pm EST

https://www.foxnews.com/video/6388721359112

The former U.S. congressman slammed James Talarico for “tearing down a Black man.” (Credit: X/@ColinAllredTX – Feb. 2, 2026)

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A Texas Democrat running for Senate is facing backlash over his comments about his former opponent.

Morgan Thompson, a political influencer who posts on TikTok under the username @morga_tt, claimed that state Rep. James Talarico, a Democrat, referred to former Rep. Colin Allred, D-Texas, as a “mediocre Black man.”

Thompson, who is Black, said the remark was made after a Jan. 12 town hall in Plano, Texas. Talarico, who is now facing off against Rep. Jasmine Crockett, allegedly told Thompson that he “signed up to run against a mediocre Black man, not a formidable, intelligent Black woman.”

Talarico was reportedly referring to Allred as the “mediocre Black man” and Crockett as “a formidable, intelligent Black woman.” Allred had ended his campaign in early December as Crockett prepared to enter the race. She formally launched her bid for the Senate on Dec. 8, 2025, the same day Allred ended his campaign.

James Talarico, who is facing off against Rep. Jasmine Crockett in the Democratic primary for the U.S. Senate nomination, was slammed for allegedly calling former Rep. Colin Allred a “mediocre Black man.”(Bob Daemmrich/The Texas Tribune/Bloomberg via Getty Images; Sergio Flores for The Washington Post via Getty Images)

In response to Fox News Digital’s request for comment, Talarico’s campaign pointed to a statement that was released after Thompson’s video went viral. In the statement, Talarico claimed that it was a “mischaracterization of a private conversation.”

“In my praise of Congresswoman Crockett, I described Congressman Allred’s method of campaigning as mediocre — but his life and service are not. I would never attack him on the basis of race,” Talarico’s statement read. “As a Black man in America, Congressman Allred has had to work twice as hard to get where he is. I understand how my critique of the Congressman’s campaign could be interpreted given this country’s painful legacy of racism, and I care deeply about the impact my words have on others.”

Talarico asserted that Democrats are “all on the same team” and said he “deeply” respects Allred.

Texas Democratic Senate candidate Colin Allred reacts at a campaign rally for Vice President Kamala Harris in Houston, Texas, on Oct. 25.(Reuters/Marco Bello)

Allred, a former NFL linebacker, civil rights attorney and congressman, responded to Talarico in a video posted on X. He slammed Talarico for having “the temerity and the audacity” to make the remark to Thompson.

“First, let me give you some free advice James, if you want to compliment Black women, just do it,” Allred said in the video. “Just do it. Don’t do it while also tearing down a Black man, okay?”

“We’re tired of folks using praise for Black women to mask criticism for Black men. That’s not good for our community,” Allred added.

State Rep. James Talarico, a Democrat U.S. Senate candidate, left, and Rep. Jasmine Crockett, D-Texas, a U.S. Senate candidate, shake hands during a debate at the 2026 Texas AFL-CIO COPE Convention in Georgetown, Texas, on Saturday, Jan. 24, 2026.(Bob Daemmrich/The Texas Tribune/Bloomberg via Getty Images)

The former congressman suggested that there was “a bit of confession” in Talarico’s remarks, saying, “Maybe you used the word ‘mediocre’ because there was something creeping into your mind about yourself because I know you’re not talking about somebody who’s been better at three things than you’ve ever been at one.”

At the end of his video, Allred encouraged people to vote for Crockett, and said that Talarico “should not be our nominee for United States Senate.”

Crockett and Talarico will face off in the state’s March 3 primary. The winner will then run against Sen. John Cornyn, R-Texas.

Fox News Digital reached out to Crockett’s office for comment.

Rachel Wolf is a breaking news writer for Fox News Digital and FOX Business.

A single Trump announcement sparks billions in losses across gold and silver

By Amanda Macias | Fox News | February 3, 2026 10:29am EST

A single announcement out of Washington sent gold and silver prices plunging, erasing billions of dollars in market value and catching investors off guard almost overnight.

The dizzying boom ended abruptly Friday morning after President Donald Trump confirmed Kevin Warsh as his pick to lead the Federal Reserve, sending the dollar to its strongest level in months and reshaping expectations for U.S. monetary policy.

Warsh is widely viewed as a free-market, inflation hawk who breaks with much of the current Federal Reserve leadership. Influenced by his studies under economist Milton Friedman, he has long argued that inflation is driven by printing too much money.

That view departs from years of Federal Reserve policy focused on keeping borrowing costs low.

TRUMP NOMINATES KEVIN WARSH TO SUCCEED JEROME POWELL AS FEDERAL RESERVE CHAIR

Kevin Warsh built his career at Morgan Stanley and, at 35, became the youngest person to serve on the Fed’s board in 2006.(Tierney L. Cross/Bloomberg via Getty Images)

For investors, Warsh’s record has signaled a more disciplined approach to inflation and monetary policy.

Addressing inflation under that framework would likely require tighter monetary policy, including higher interest rates. And higher rates typically strengthen the U.S. dollar, giving investors less reason to seek refuge in gold and silver and prompting a selloff in both metals.

WHAT TRUMP’S NEXT PICK TO LEAD THE FEDERAL RESERVE MEANS FOR YOUR WALLET

For months, a gravity-defying rally had pushed gold and silver prices to fresh highs, as investors piled into the traditional safe-haven assets amid inflation, trade tensions and concerns about the long-term stability of the dollar under Trump’s economic policies.

Hours before Trump announced Warsh’s nomination, gold and silver were still holding onto recent gains. The news sparked a swift bust, with gold suffering its worst selloff since 2013 and silver posting its steepest one-day drop since 1980.

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The sudden reversal rattled investors who had turned to gold as a hedge against inflation and policy uncertainty, including many retirement-age Americans who viewed the metal as a safer place to park their savings.

The sharp swings also raised questions about how much more volatility could lie ahead, as markets brace for further policy signals from Washington and potential changes at the Federal Reserve.

TRUMP’S ECONOMIC WINS ARE REAL — NOW HE NEEDS TO CONVINCE THE COUNTRY

A person walks past a poster showing ‘American Eagle’ gold and silver bullion coins at a gold dealer’s window in Madrid, on Jan. 30, 2026.(Oscar Del Pozo/AFP/Getty Images)

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Even so, longer-term demand for gold has been supported by steady buying from foreign central banks, including China, which has been diversifying reserves away from the U.S. dollar amid geopolitical tensions.

Amanda covers the intersection of business and politics for Fox News Digital.