U.S. Senator Tommy Tuberville (R-AL) is leading a group of Senators in calling for an investigation into two commonly used stock trading platforms with ties to the Chinese Communist Party, Webull Financial, LLC and Moomoo, Inc. In a letter to Securities and Exchange Commission (SEC) Chairman Gary Gensler, Senator Tuberville and his colleagues Senators Ted Cruz (R-TX), Mike Braun … Continue reading Senators Call for Investigation into Stock Trading Platforms with Ties to China
Category: Economy
U.S. Sen. Ted Cruz (R-Texas), member of the Senate Commerce Committee and the Senate Foreign Relations Committee, issued the following statement regarding his no vote on the CHIPS-Plus bill: “Our dependence on semiconductors manufactured abroad is a serious vulnerability. Right now, an enormous amount of the most complex semiconductors are built in Taiwan, where they … Continue reading Cruz: CHIPS corporate welfare bill ‘invites cronyism and corruption’
In response to this morning’s GDP data indicating -0.9% growth in Q2, which confirms two consecutive quarters of negative growth, and reports of a pending reconciliation deal between Majority Leader Chuck Schumer and Senator Joe Manchin, AFP Vice President of Government Affairs Akash Chougule issued the following statement: “When Americans feel like they need to … Continue reading Random Grab Bag of Corporate Welfare and Tax Hikes Does Nothing to Address Inflation
House Budget Republican Leader Jason Smith (MO-08) released the following statement after the Congressional Budget Office (CBO) released its latest long-term budget outlook detailing the nation’s dismal fiscal health, and the Federal Reserve increased interest rates by 75 basis points – the fourth increase since March. “Washington Democrats’ $2 trillion American Rescue Plan ignited inflation, … Continue reading As Fed Hikes Rates to Combat Biden’s Inflation Crisis, Budget Office Confirms Worsening of America’s Fiscal Outlook
Ahead of Thursday’s U.S. Senate Banking Committee hearing on risks and scams in the cryptocurrency market,Ranking Member Pat Toomey (R-Pa.) said investors have suffered from a continued unwillingness by the Securities and Exchange Commission (SEC) to give regulatory clarity to the cryptocurrency community and consumers. In a letter to SEC Chairman Gary Gensler, Ranking Member Toomey wrote … Continue reading Toomey: Gensler’s Refusal to Give Crypto Regulatory Clarity Hurt Consumers
The Senate today passed the CHIPS+ Act, a bill that would hand over tens of billions of tax dollars to domestic production of semiconductors. CEI Senior Fellow Ryan Young denounced the bill as unneeded corporate welfare: “The best policy for giving taxpayer money to private businesses is: Don’t. Unfortunately, the Senate seems to think the best way … Continue reading Senate-Passed Corporate Welfare “CHIPS” Bill Won’t Help U.S. Companies Out-Compete China
Americans for Prosperity Vice President of Government Affairs Akash Chougule issued the following statement urging defeat of the so-called CHIPS Act under consideration in Congress this week: “Poll after poll underscores what we are hearing firsthand at our ‘True Cost of Washington’ tour events across the country – the biggest problem facing Americans right now … Continue reading Americans for Prosperity Opposes CHIPS Act Corporate Welfare
House Committee on Oversight and Reform Ranking Member James Comer (R-Ky.) and Oversight Committee Republicans are raising questions about the Department of Energy’s (DOE) sale of oil from the Strategic Petroleum Reserve (SPR) to a Chinese energy company that Hunter Biden’s private equity firm has a financial stake in. Recently, DOE sold 900,000 barrels of … Continue reading Republicans Probe DOE’s Sale of Oil to Chinese Company Affiliated with Hunter Biden
U.S. Senator Pat Toomey (R-Pa.) opposed efforts to proceed to Senate consideration of a massive new federal intervention into commercial manufacturing. At the time of the vote, legislative text was still unclear, but the one area that will be included in the ultimate bill is over $75 billion to subsidize the semiconductor industry—commonly known as … Continue reading Toomey Opposes Corporate Welfare Handout to Semiconductor Industry
Republican members of the U.S. Senate Finance Committee, led by Ranking Member Mike Crapo (R-Idaho), sent a letter to Senate colleagues highlighting concerns with a proposal to impose a tax on small- and medium-sized businesses—businesses already reeling from the pandemic, massive inflation and worker shortages. A proposal to expand the so-called Net Investment Income Tax, or … Continue reading Democrat plans for new small business tax would crush struggling US economy
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