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Interview with Rep. Stephen Lynch (D-MA): President Trump's Financial Disclosure; Democratic Socialists Upset Democratic Establishment in Recent Primaries; Wedding Celebration for Taylor Swift and Travis Kelce; Worst Day of Heat Wave Expected Today Across East Coast. Aired 8-8:30a ET

Aired July 03, 2026 - 08:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[08:00:00]

SARA SIDNER, CNN ANCHOR: And all their dazzling gear to Philadelphia first and then to the nation's capital.

(BEGIN VIDEO CLIP)

DIANE BOSTON, MILWAUKEE DANCING GRANNIES: I never imagined myself dancing, showing people that retirement isn't the end, it's the beginning.

UNIDENTIFIED MALE: What's the toughest part about preparing for this honor?

CHRISTINE MAIORANO, MILWAUKEE DANCING GRANNIES: The stamina. I think getting everybody ready for the stamina for this.

BOSTON: Even though the parade is two and a half miles when you're dancing it's more like triple that.

(END VIDEO CLIP)

SIDNER: The group says it hopes to inspire people through their resilience. Already inspired, they are so good as they hit the streets on what will be a really, really hot weekend. Now if you'd like to watch the celebrations in air conditioning enjoy yourself.

The fun starts as early as tonight at 8 p.m., Eastern that is, as Anderson Cooper and Andy Cohen host Independence Day Eve and then Anderson is back tomorrow for the fourth in America. We will all be taking part in this from New York to Boston. It's going to be fun and across the entire country.

So please join us. That all starts at noon Eastern. A new hour of CNN NEWS CENTRAL starts right now.

This morning President Trump is defending his multi-billion dollar income that includes a crypto haul. He says quote, "everybody is profiting."

America's big birthday is gearing up to be a scorcher. A dangerous heat is coming. One major city's parade ended up just being canceled because of it. A dangerous and long-lasting heat wave hitting cities in much of the country with triple digit temperatures.

Plus, here comes the bride. It's the big day for Taylor Swift and Travis Kelce. The new details we're learning about their wedding celebration here in New York. It's expected to happen in the heart of the city and it's going to be hot.

I'm Sara Sidner with John Berman. Kate is off today. This is CNN NEWS CENTRAL.

This morning President Trump doubling down on raking in billions, with a "B" that is, while in the White House. We know the numbers after his mandatory financial disclosure revealed he's made big profits since retaking the Oval Office from his cryptocurrency, real estate, and even some legal payouts.

Trump says these unprecedented profits for a sitting president are no big deal.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: Well you know I don't do anything having to do with my business. My kids run it. I put a lot of money.

I had a lot of money. I've always made -- I've always made money. You know I'm a businessperson. I'm a really good businessperson.

I mean there's nothing illegal. There's nothing wrong with it.

(END VIDEO CLIP)

SIDNER: His critics disagree. He's made a ton of money from crypto alone. Over a billion dollars stemming from new crypto ventures and the Trump meme coin tied to the World Liberty Financial, a company co- founded by his sons Don Jr. and Eric. The massive crypto investment somewhat surprising given the president's stance on it just a few years ago. Take a listen.

(BEGIN VIDEO CLIP)

TRUMP: Bitcoin just seems like a scam. I don't like it because it's another currency competing against the dollars.

(END VIDEO CLIP)

SIDNER: Now he has won in total. The president earned two billion dollars in income last year, a stunning number for a sitting president. Never seen those numbers before for a president indeed.

In addition to the crypto profits, he netted nearly $500 million from real estate, including 77 million from Mar-a-Lago.

Now to our John Berman who is in Boston, his favorite place to be other than beside me. And I do miss you. I'm bored without you, dude. Bored.

JOHN BERMAN, CNN ANCHOR: Maybe being beside you in Boston would be the best thing ever, Sara.

SIDNER: That would be better.

BERMAN: I'm actually here with Congressman Stephen Lynch. I'm here with Congressman Stephen Lynch, a substitute for you, but he'll do for today.

A Democrat from Boston here who was on the House Oversight Committee, I should note. So, Congress, we just heard Sara talking about the president's $2 billion windfall since taking office. He says there's nothing wrong with it.

How do you feel about it?

REP. STEPHEN LYNCH (D-MA): OVERSIGHT COMMITTEE: Well, let's back up a little bit. So he made $1.4 billion on crypto alone. So the president, the president of the United States governs crypto policy.

This president disbanded the Department of Justice crypto enforcement team. So he did away with that. His first investment was $500 million from the UAE that invested in his meme coin.

So he has teed this all up in a way that he can rake in all this money and he's dismantled and disbanded the cop on the beat that would normally protect against something like this happening. So he's complicit in all of this. He has teed this up for himself.

[08:05:00]

You know, people complained about Hunter Biden making $10 million. His boys have made over $2.2 billion. You know, so and while the Republicans back then wanted all these investigations on Hunter Biden on the laptop because he made $10 million, they're completely silent in terms of the president making $2.2 billion with his family.

BERMAN: You're on the House Oversight Committee.

LYNCH: Yes.

BERMAN: If Democrats take power, you'll be a senior member on that committee, if you're reelected, what do you what do you intend to do about it?

LYNCH: Well, we will we will try to reestablish that cop on the beat for crypto. You know, bring back enforcement, investigate how the president has made money, whether or not he's traded away. At that same time that UAE was investing in the president's meme coin, we were giving highly sensitive computer chips to the UAE for certain purposes.

And so we were giving them something while they were giving the president, you know, $500 million in his meme coin. So there's the appearance at least of, you know, a quid pro quo going back and forth between those two companies.

BERMAN: I mentioned I mentioned you are running for reelection. You and I have talked about your reelection here and you do have a primary competitor. I don't want to talk specifically about that race, but I do want to talk about the races around the country where three Democratic incumbents have lost in the last two weeks.

There does seem to be an uprising on the left of your party. What message are voters sending across the country?

LYNCH: Well, I think in New York, a lot of that focused on the position of the candidates with respect to Gaza. That was a big, big issue in New York. I'm not sure that translates to other parts of the country.

In Colorado, there seemed to be a mix. You had one longtime incumbent that succeeded and one who lost. So I don't know what the dynamic was there.

I think in general, though, I would say that the far left, especially the Democratic Socialists, have hit upon something where, you know, socialism is not a new idea. But they are saying to us in Congress and to the government, look, democracy isn't working for us anymore, and we're willing to try something different. And, you know, so we've got to respond to that.

We've got to show them that democracy works for them, because they've got a point on, you know, the cost of living, the ability to buy a home, the American dream. In essence, we're failing this generation. And it's young people who feel like they've missed that opportunity.

And they're rightfully angry about that. And we as a party have to have to address that.

BERMAN: You talked about the American dream. We are on the eve of the 250th anniversary of, you know, Independence Day, July 4th. And if we have a special guest here, when you walked in later in this hour -- come on in here.

We're going to be speaking with John Adams here, someone who looks a lot like John Adams. He's not miked right now, we can't hear from John Adams. But when I saw him with you walk in, I was struck by the fact that your congressional district is where John Adams is from.

LYNCH: That's right. We didn't serve together, but you know.

BERMAN: Did not serve at the same time. But just talk to me about what it's like to be from Boston here with so much history all around you celebrating this moment.

What does it all mean to you?

LYNCH: I represent Quincy, which is the city of presidents. And it is rich in history. And that community and their mayor Tom Koch right now really is leaning into that history. You know, John Quincy Adams, Abigail Adams, John Hancock, John Quincy Adams. It's sort of been a rebirth, this 250th for the city of Quincy, and the rest of my district as well. We just celebrated the renewal of Dorchester Heights, where George Washington drove the British from Boston.

BERMAN: They got kicked out of Boston on St. Patrick's Day, you know, March 17, 1776, because of that.

LYNCH: Yes. And also the Tea Party ship is in my district. So, you know, we had 50 or so Native Americans, you know, dump a bunch of tea in the harbor at one of the initial acts of protest.

So we feel like we own a little bit about the origins of democracy and revolution in this country. And we're celebrating all of that here.

BERMAN: What lesson is there for today, do you think?

LYNCH: Well, democracy is fragile, just as we had to have courage and extraordinary determination to gain our freedom. It's going to take the same level of energy to preserve it in these bizarre times.

BERMAN: John Adams says here, here to that. We're going to have you on in a little bit, Mr. President. Thank you for being with us.

And again, Congressman, I just think it's great having one of your constituents here.

LYNCH: Remember the ladies, John.

[08:10:00]

BERMAN: All right, we'll talk to John Adams a little bit. Congressman Steven Lynch here from Boston. Great to see you.

LYNCH: And welcome home. Welcome home.

BERMAN: Appreciate it. It's always good to be here. Thank you so much.

And we are here in Boston for part of CNN special coverage of the 4th of July. It all kicks off tonight, "INDEPENDENCE EVE WITH ANDERSON AND ANDY." Special coverage continues all across the country tomorrow at noon. New York, where Sara's going to be. Washington, D.C., we have an Army there.

Philadelphia, here in Boston, I'm going to be on a scavenger hunt, Sara, through the city that we're calling Red, White, and Clue. How do you like that, Sara Sidner? Oh, my God, I love your hat.

SIDNER: How do you like this? I found your first clue. It's right here in New York.

BERMAN: Nice.

SIDNER: John Adams had a hat. I got my own. It's a little cat in a hat-ish, but thanks to our crew here, I feel good. John Berman, it's so good to see you. And like the congressman said, welcome home, but get back here. We miss you.

All right, up ahead. Scary moments before a baseball game. I know you can't take any of what I'm saying seriously right now, but this is a player doing the best thing.

He rushed to help a child who ends up fainting because of the extreme heat. By the way, child OK, baseball player doing the Lord's work.

OK, plus more hiccups at President Trump's Celebration 250. We told you about the sparse crowds and the extremely hot condition. Now there's been a dangerous incident on a dance stage.

And it's a love story, baby. Taylor Swift and Travis Kelce's wedding celebration underway right now here in the Big Apple, culminating in a huge event tonight, we know at MSG. We are tracking every single development of that love story.

The latest details ahead.

[08:15:16]

(COMMERCIAL BREAK)

SIDNER: The big day appears to be here. It's here, y'all. You're looking at live pictures of Madison Square Garden. You can't see much from the high, high, but there's a lot of activity that has been going on, flowers and all kinds of stuff.

They're trying to keep all the details away from guests. But this is Travis Kelce, and I should have started with the big name, Taylor Swift's wedding celebration in New York. Months of speculation.

There have been Easter eggs, and there has been fan buzz. Of course, all of it leading up to today. Right now, work crews setting up inside MSG, streets around the arena already being closed.

You can see them. It happened right there. Security really tight.

Excitement building, and a little frustration from New Yorkers trying to get around it. You see the flowers there. Hundreds of high-profile guests also expected this afternoon.

Joining me now to talk about all of it, Chris Willman. He is a senior music writer and chief music critic at Variety. Today is a big day for a lot of Swifty fans.

People have been waiting for this moment, wondering what it's going to look like. They won't be able to see it until they release some pictures. Give us some sense of what you know about the schedule and who might be there.

I mean, my big question is, who is going to sing the music? Like will it be Taylor Swift songs or will it be other stuff? I don't know. CHRIS WILLMAN, SENIOR MUSIC WRITER AND CHIEF MUSIC CRITIC, VARIETY: Yes, there have been rumors that Stevie Nicks and Tim McGraw are going to perform. How much truth there is to that, I don't know. But we know it's going to be high-profile if there is an entertainer.

And that's one of the advantages of having Madison Square Garden. It's a concert facility. So if she wants to have superstar serenaders marching her down the aisle, she's got those along with the benefits of being in a virtual fortress.

SIDNER: I love the idea of Stevie Nicks singing. What? I love her.

I just went to see her in concert a couple of years ago. OK, we're also learning about something that they're doing for the public that has something to do with the wedding but nothing to do with the ceremony. They're donating a ton of money to charities both in New York and nationwide.

What are you learning about that?

WILLMAN: Yes, so they actually issued a press statement about the 26 million in charitable contributions. That's something Taylor doesn't usually do. She usually does her contributions very quietly. And then if the organizations want to publicize it, they can.

In this case, I think maybe preemptively a little bit because there is criticism. You're drawing all this attention to yourself. You're disrupting New York.

You know, there's an emphasis on we are giving back. And so, she's donated -- or they have donated, I should say, to at least 20 charities, including nine food banks, an animal cruelty organization, seven educational programs including Dolly Parton's Literacy Foundation, and three children's hospitals.

That's representative of the type of giving that Taylor often does.

SIDNER: She does a lot of giving --

WILLMAN: I should say those are all in the million dollar.

SIDNER: They're all getting like a million bucks.

WILLMAN: She didn't -- or two. There's one organization that said they got two, so there may be a little competition there for who got the most largest there.

SIDNER: It is an incredible thing that she does, and she does it regularly. Like you said, usually it's quiet, but she really is. She gives her own team that tours with her nice big checks at the end of the tour. It's a wonderful way to be a boss lady.

There has been an extraordinary level of security. We're seeing it on a daily basis. We're near MSG.

[08:20:00] There's been a lot of sort of control of access, trying to get it so you can't really see, positioning trucks to make sure that the public can't see what is going on and the reporters can't see what is going on. You know, New Yorkers who were born and raised here who have to navigate all this, a little cranky about it. The Swifties are freaking out and heading down there to try to see what they can see.

What's your take on all of it, all things New York, as you see what's going on here?

WILLMAN: You know, there's been a lot of controversy about how disruptive it is to New Yorkers. I've heard some New Yorkers say, we don't really hang around Madison Square Garden anyway, so it doesn't affect us that much. That may be overstated.

But of course, it's putting some people out. With the kind of security perimeter you usually see only for a president. But you know, it's a matter of kind of hiding in plain sight.

This wedding has still not been officially acknowledged by Taylor's people. The closest they've come is to putting out the statement about the charity, and even that did not mention the wedding. So there's an aspect of sort of hiding in plain sight, and cloak and dagger.

You know, is it overstated? A lot of people say, if you don't want prying eyes on you, do it somewhere else. Well, you kind of have to do it in the heart of the biggest city in the world if you want all the things that come with.

You know, a venue that's used to having counterterrorism measures. Madison Square Garden, owned by James Dolan, who, you know, so, it's, I think, you know, doing this on an island somewhere in Rhode Island, like originally speculated, was not possible. Although, you know, we're still waiting to find out if she's already married.

If they did do something in the hills of Tennessee or something, then this will be a reenactment.

SIDNER: Yes, they could have done the whole legal thing before, and then had this be the ceremony. I mean, a lot of things have happened. There are people speculating that it's not even the wedding, that maybe this is an Easter egg, or this is a trick, and I'm like, they spent a lot of money for a trick.

We will see, Chris William, as to what's happening here. I'm sure your invitation is in the mail, as is mine, apparently. Thank you so much for walking us through all that.

I love the idea of Stevie Nicks. See, now I want to go, because I want to see Stevie Nicks. There you have it. Good luck to me.

All right, today will be the hottest day of the prolonged heat wave for most areas. We're talking about record-breaking heat, triple-digit temperatures.

This is happening in a row, successive triple-digit temperatures. And you're seeing some pictures. I think those are from Central Park, which hit a record of 100 yesterday.

There is a lot to talk about here and a lot of warnings for you as well.

And millions of Americans expected to travel this holiday weekend could hit a record there. If you are hitting the road today, we will tell you the best and worst times to head out.

Those stories and more ahead.

(COMMERCIAL BREAK)

BERMAN: All right, I'm John Berman here in Boston for part of CNN's special coverage of all the Fourth of July festivities. I just checked the CNN weather app here. It says it is now 86 degrees, although it feels like 92.

The high expected to get to 99 degrees. If it breaks 100, it would be the first time they've had consecutive 100-degree days in more than 80 years. All this heat is having major implications for Fourth of July celebrations, all the festivities up and down the East Coast.

In Philadelphia, we learned they just canceled a parade that was scheduled for today because of this extreme heat. Could we be seeing more of this over the next 24 hours?

Let's get right to CNN meteorologist Allison Chinchar. Allison, I was just looking at you on the CNN weather app talking about how hot this all is.

ALLISON CHINCHAR, CNN METEOROLOGIST: That was from yesterday when it was my turn to stand out in the heat. Now it's your turn to do the same. Yes, and just as you mentioned about Philadelphia, it is very possible you could have even more cities that start to either shorten their parade routes or even cancel them altogether because this heat is not going anywhere, folks.

Right now in Philadelphia, it feels like temperature is 94 degrees, folks. It is 8:27 Eastern Time right now, and it already feels like it's in the mid-90s. Same thing for Atlantic City.

Look at that, 98, almost triple digits so far, this early. D.C. and Baltimore, looking at it, feels like temperature right now of 95 degrees. You have all of these areas under those heat alerts.

Roughly one out of every two Americans is under one of those heat alerts, whether that's a heat advisory, extreme heat watch, something of that nature. And it's because of how hot these temperatures are expected to get. These are the temperatures, again, 104, 101, 101, 101, again, D.C., Raleigh, New York, all of these areas looking at the temperature alone to be triple digits potentially, not just today, but for some cities even the next day as well.

Looking at some of these records for today, Philadelphia is one of them, D.C., New York, Charlotte, Raleigh, and there are dozens more that could break the record high for today and possibly even tomorrow. Now, obviously, a lot of focus is on those afternoon high temperatures because they are extreme, but the low temperatures are also extreme. Look at this, D.C. and New York both looking at least the potential for tomorrow morning's low to not get dropped below 80 degrees.

That is not good for your body. That does not allow it a chance to rebound from those extreme temperatures. And if that wasn't enough, we also have the chance for some showers.

And, yes, even some strong thunderstorms could possibly impact areas on July 4th. This will impact firework shows. This will impact other parades, any kind of outdoor event that is taking place on July 4th.

We'll have to keep a close eye on the radar as we go through the afternoon and especially those early evening hours. That timeline, say, from about 4 p.m. all the way through about 9 p.m. on Saturday. And here's a look.

We've got the chance for strong to severe thunderstorms today, stretching from the Midwest all the way over to the Atlantic Ocean, but you also have another round of it again on Saturday. That's stretching from Colorado all the way over.