FOX NEWS FIRST: Trump, Sanders clash on Twitter over new tax law

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Developing now, Tuesday, Dec. 26, 2017:

• Trump and Bernie Sanders clash on Twitter over new tax law
• Nikki Haley announces $285M cut in UN operating budget
• President and first lady spread Christmas cheer at Mar-a-Lago
• Retail Apocalypse: 21 big retailers closing stores in 2017

THE LEAD STORY: It was a holiday weekend, but President Donald Trump and rival Bernie Sanders didn’t exactly exchange greeting cards. Instead, the political foes clashed via Twitter over the nation’s new tax legislation, which Trump signed into law Friday.

'OVERSPENDING' TO END: Calling it “a big step in the right direction,” U.S. Ambassador to the United Nations Nikki Haley on Sunday night announced a historic reduction in the U.N. biennial operating budget. Haley said the plan calls for a $285 million cut for the 2018-19 fiscal year. “The inefficiency and overspending of the United Nations are well known,” Haley said. “We will no longer let the generosity of the American people be taken advantage of or remain unchecked."

• Ben Stein rips U.N. for its Jerusalem vote

'A GREAT CHRISTMAS': President Donald Trump and members of his family wrapped up Christmas at their Mar-a-Lago club on Monday, while also spreading some holiday cheer by providing a feast to the various law enforcement and military service members protecting the first family during their visit. “I hope everyone is having a great Christmas, then tomorrow it’s back to work in order to Make America Great Again (which is happening faster than anyone anticipated)!" the president tweeted in the evening, after a day with his family.

• Melania Trump shares a Santa selfie
• Trump: 'People are proud to be saying Merry Christmas again'

NOW, THE APOCALYPSE: Some of the United States’ most prominent retailers are shuttering stores this year amid sagging sales in the troubled sector. The rise of ecommerce outlets like Amazon has made it harder for traditional retailers to attract customers to their stores and forced companies to change their sales strategies. Many companies have turned to sales promotions and increased digital efforts to lure shoppers while shutting down brick-and-mortar locations.

• Retailers feel shoppers' Christmas cheer
• Will a 'Santa rally' give a robust stock market an added lift?

AS SEEN ON FOX NEWS

'ALL ABOUT CHRIST': "Christmas is all about Christ. I'm so excited that the president isn't afraid to mention the name of Jesus Christ." - the Rev. Franklin Graham, appearing on "Fox & Friends," reacting to President Trump's efforts to restore respect for Christmas. WATCH

FRESH START FOR FBI?: A major "housecleaning" needs to happen at the FBI, "or we're going to all be in a lot of trouble." - Dan Bongino, a former Secret Service agent and Maryland congressional candidate, on "Fox and Friends," talking about the need for a fresh start at the agency. WATCH

ACROSS THE NATION

Suspect shot, killed woman and two children in Phoenix on Christmas: report

California Highway Patrol officer dead in Christmas Eve crash

JetBlue plane slides off taxiway at Boston airport

MINDING YOUR BUSINESS

Bitcoin rises 10 percent, recovers from last week's brutal selloff.

Auto industry eyeing cooler sales, new tech in 2018.

NEW IN FOX NEWS OPINION

Contrary to what leftists say, Jesus will always be the reason for the season

Palestinians must accept the reality of Israel as a Jewish state to achieve peace

Trump's law enforcement policies are a welcome improvement from Obama's

HOLLYWOOD SQUARED

Roseanne Barr slams 'bigot' Lorde for nixing Israel concert under BDS pressure

Tears as "Sound of Music" actress tragically dies on Christmas Eve

Ben Shapiro wins round against Rosie, as Twitter reverses and deletes her vulgar tweet

DID YOU HEAR ABOUT THIS?

Topless female activist tries to swipe baby Jesus statue from Vatican Nativity scene

United apologizes to passenger who says US Rep took her seat

On Fox Business:

Mornings with Maria, 6 a.m. ET  -   Betsy McCaughey, former lieutenant governor of New York (R), and Steve Rogers, former member of FBI Joint Terror Task Force.

Varney & Company – 9 a.m. ET -  Louise Sunshine, former executive vice president of the Trump Organization, and Kayleigh McEnany, Republican National Committee spokeswoman.

Countdown to the Closing Bell – 3 p.m ET - Jay Timmons, CEO, National Association of Manufacturers.

Lou Dobbs Tonight - 7 p.m. ET  - Corey Lewandowski, former Trump campaign manager.

The Fox News Rundown podcast:  

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#OnThisDay

2006: Former President Gerald R. Ford dies in Rancho Mirage, Calif., at age 93.

1908: Jack Johnson became the first African-American boxer to win the world heavyweight championship as he defeated Canadian Tommy Burns in Sydney, Australia.

1776: British forces suffer a major defeat in the Battle of Trenton during the Revolutionary War.

Thank you for joining us on Fox News First! Enjoy your day, and we'll see you in your inbox first thing Wednesday morning.