Source: United States Senator for Iowa Chuck Grassley
WASHINGTON – Sens. Chuck Grassley (R-Iowa) and Maggie Hassan (D-N.H.) introduced legislation to detect and halt counterfeit imports. Specifically, the bipartisan bill authorizes Customs and Border Protection (CBP) to share suspected counterfeits’ packaging and shipping information with intellectual property rights holders, e-commerce platforms and transportation carriers. The text of their legislation has been included as an amendment in the “manager’s package” of the committee-passed National Defense Authorization Act for Fiscal Year 2025.
“Counterfeits are an affront to consumers’ well-being, economic vitality and common decency,” Grassley said. “Our bipartisan bill establishes a straightforward approach to cut back on counterfeits by boosting information sharing between CBP, rights holders and commerce professionals.”
“This bipartisan bill gives Customs and Border Protection the tools that they need to more effectively stop counterfeit goods from crossing our borders,” Hassan said. “By strengthening law enforcement efforts to identify and interdict counterfeit imports, we can better protect American businesses and create jobs.”
Background
Grassley is the co-chair of the Congressional Trademark Caucus and former chairman of the Senate Finance Committee. Grassley’s 2019 “Fight Against Fakes” report, released during his time as Finance Chairman, detailed bad actors’ efforts to exploit the marketplace at the expense of consumers’ pocketbooks and personal safety. Building on the report, Grassley first introduced legislation in 2021 to enhance information sharing between CBP and private sector partners.
The Grassley-Hassan bill (S.5160) is supported by the Alliance for Safe Online Pharmacies (ASOP Global), American Apparel & Footwear Association (AAFA), American Intellectual Property Law Association (AIPLA), Automotive Anti-Counterfeiting Council (A2C2), International Anti-Counterfeiting Coalition (IACC), Semiconductor Industry Association (SIA), The Partnership for Safe Medicines (PSM), The Toy Association and the U.S. Chamber of Commerce.
Download bill text HERE.
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Source: United States Senator for New Hampshire Jeanne Shaheen
(Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Tammy Baldwin (D-WI) are introducing the Health Care Affordability Act—legislation making permanent the Affordable Care Act’s (ACA) enhanced premium tax credits (PTCs) for Health Insurance Marketplace coverage as extended through the Inflation Reduction Act. The enhanced PTCs, which have made health care more affordable and accessible for millions of Americans, are currently set to expire at the end of 2025. If these credits expire, over 20 million Americans will see a sudden increase in their health insurance costs, an estimated three million Americans could lose their health insurance entirely and nearly nine million people will pay more—roughly $406 per person—for coverage. U.S. Congresswoman Lauren Underwood (D-IL) is introducing identical legislation in the U.S. House of Representatives. The Senator spoke in support of her bill during a press conference in the Capitol today.
“For years, the ACA enhanced premium tax credits have significantly lowered costs and increased access to health insurance for families in New Hampshire and across the country. But let’s be very clear: if Congress fails to act before these tax credits expire, tens of millions of Americans will suffer a substantial increase in health care costs and millions of individuals could lose their health insurance entirely,” said Senator Shaheen. “It’s time to extend these highly effective tax credits to keep costs from skyrocketing and ensure health care is within reach for every American, and I’m proud that our Health Care Affordability Act does just that.”
“I’m focused on the kitchen table issues that keep families up at night and the skyrocketing cost of health care and prescription drugs is high on that list. I fought hard to cut health care costs for Wisconsinites – saving thousands of families hundreds of dollars each year – and I refuse to let us go backward,” said Senator Baldwin. “Our legislation will stop millions of hard-working Americans from having their healthcare costs jacked up, giving families peace of mind that they can get the quality health care they need at a price they can afford.”
The?Health Care Affordability Act?would make permanent the Affordable Care Act’s (ACA’s) enhanced premium tax credits for Health Insurance Marketplace coverage as extended through the Inflation Reduction Act. Those enhanced tax credits increased the value of the tax credits available to people with income between 100 and 400 percent of the federal poverty level (FPL) while expanding eligibility for premium tax credits to include individuals with income above 400 percent of FPL.
Cosponsors of Shaheen and Baldwin’s bill include U.S. Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR), and U.S. Senators Jack Reed (D-RI), Jeff Merkley (D-OR), Sherrod Brown (D-OH), Richard Blumenthal (D-CT), John Fetterman (D-PA), Jacky Rosen (D-NV), Tim Kaine (D-VA), Amy Klobuchar (D-MN), Kirsten Gillibrand (D-NY), Tina Smith (D-MN), Sheldon Whitehouse (D-RI), John Hickenlooper (D-CO), Mazie Hirono (D-HI), Ben Ray Luján (D-NM), Peter Welch (D-VT), Michael Bennet (D-CO), Laphonza Butler (D-CA), John Tester (D-MT), Chris Van Hollen (D-MD), Mark Warner (D-VA), Elizabeth Warren (D-MA), Chris Coons (D-DE), Gary Peters (D-MI), Richard Durbin (D-IL), Tammy Duckworth (D-IL), Brian Schatz (D-HI), Tom Carper (D-DE), Bob Casey (D-PA), Cory Booker (D-NJ), Angus King (I-ME), Maggie Hassan (D-NH), Catherine Cortez Masto (D-NV), Ed Markey (D-MA), Mark Kelly (D-AZ), George Helmy (D-NJ), Ben Cardin (D-MD), Debbie Stabenow (D-MI), Patty Murray (D-WA), Raphael Warnock (D-GA), Chris Murphy (D-CT) and Martin Heinrich (D-NM).
The bill has been endorsed by: Keep Americans Covered, Protect Our Care, Leukemia & Lymphoma Society, Center for American Progress, UnidosUS, United States of Care, National Partnership for Women and Families, Young Invincibles, Families USA, American Heart Association, National Bleeding Disorders Foundation, National Health Council, Epilepsy Foundation, Hemophilia Federation of America, American Kidney Fund, The AIDS Institute, American Lung Association, American Cancer Society Cancer Action Network, Susan G. Komen, Cystic Fibrosis Foundation, Third Way, Community Catalyst, Alliance of Community Health Plans, National Organization for Rare Disorders, Asthma and Allergy Foundation of America, WomenHeart, CancerCare, Crohn’s & Colitis Foundation, National Alliance on Mental Illness (NAMI), Federation of American Hospitals, National Association for the Advancement of Colored People (NAACP).
Last week, Shaheen and Underwood penned letters to Congressional leaders and called on them to act before the enhanced PTCs expire at the end of 2025 to protect the millions of Americans who rely on these tax credits for affordable health care.
Shaheen has spearheaded efforts to lower premiums to make health insurance more affordable for patients through her signature legislation, the Improving Health Insurance Affordability Act. Shaheen successfully secured premium tax credit enhancement provisions in the American Rescue Plan. This expansion of premium tax credits marked the biggest improvement to the ACA since it became law over a decade ago. When the tax credits were set to expire at the end of last year, Shaheen successfully extended their authorization through the Inflation Reduction Act.
We are bringing you news and highlights from the Gartner Security & Risk Management Summit 2024, taking place this week in London, U.K. Below is a collection of the key announcements and insights coming out of Day 3 of the conference.
Source: United States Senator for Washington Maria Cantwell
09.25.24
Yakima Projects to Reduce Flooding & Recover Salmon Get Federal Investment
Yakima County, in collaboration with the City of Yakima, gets $10.9M federal grants for Cowiche Creek Confluence Projects to restore floodplains and protect the City of Yakima from flooding; Chelan County also receives grant for floodplain restoration on lower Chiwawa River
WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA) announced that Yakima County will receive $9,976,792 to implement Phase I of the Cowiche Creek Confluence Project, which will address recurring flooding of Cowiche Creek, improve fish passage and habitat, and maintain water delivery by constructing a new irrigation delivery pipeline, removing obsolete irrigation structures, and restoring adjacent floodplains and riparian areas along Cowiche Creek. Yakima County will also receive $1,002,149 for Phase II of the Cowiche Creek Confluence Project to complete the study and design on additional floodplain restoration and salmon habitat projects along Cowiche Creek and at the confluence of Cowiche Creek and Naches River.
The Chelan County Natural Resource Department will also receive $806,511 to work with the Yakama Nation to complete designs of a floodplain restoration project at the lower Chiwawa River in the Wenatchee Basin. The grants were awarded from Bipartisan Infrastructure Law funding for the Bureau of Reclamation’s WaterSMART Aquatic Ecosystem Restoration Program.
“Restored floodplains can provide rich fish habitat and protect homes, community infrastructure, and farms from flooding,” said Sen. Cantwell. “These federal funds will enable Yakima County to restore the Cowiche Creek floodplains, helping to reduce flooding, clearing the way for salmon to pass, and improving water delivery to Yakima residents. This funding will also help Chelan County restore a floodplain in the lower Chiwawa River that will revive once-thriving salmon habitat in the Wenatchee Basin.”
Cowiche Creek overflowed into Yakima in 2016 and 2017, and the once-productive floodplain no longer provides optimal spawning habitat for native populations of Steelhead trout and Coho salmon.
With this funding, Yakima County will make progress on two critical projects:
Cowiche Creek Confluence Project Phase I
Construct a new irrigation delivery pipeline to connect to existing surface water irrigation delivery systems on the Naches River to the City of Yakima;
Remove surface irrigation diversion facilities including a dam, fish screen, and bypass facilities to allow restoration of the lower Cowiche Creek to a more natural alignment;
Restore adjacent floodplains and riparian zones on property owned by the Flood Control Zone;
Construct approximately 800 feet of side channel habitat fed by existing cold-water springs in the project area;
Convert approximately 67 acres of current and former orchard into native floodplain vegetation;
Reconfigure existing flood control levees; and
Design a wider Powerhouse Road bridge over Cowiche Creek to further expand the floodplain of Cowiche Creek.
Cowiche Creek Confluence Project Phase II
Complete the 60% design to replace an undersized bridge, remove obsolete irrigation infrastructure, regrade disturbed areas to mimic natural floodplain topography, and replant with native riparian vegetation;
Reorganize lands, easements, and covenants held by the County to facilitate development of a future park; and
Reduce flood potential across 136-acres of floodplain, improve fish passage and riparian habitat in over two river miles of the confluence area, and create a park that will provide recreation opportunities.
With its funding, Chelan County, in partnership with the Yakama Nation, will complete designs for a floodplain restoration project on the lower 13 miles of the Chiwawa River and the lower 0.2 miles of Big Meadow Creek. The project area is afflicted by low baseflows, homogeneous, plane-bed habitat with limited large wood, and high stream temperatures — all of which limits its utility as habitat for endangered salmon.
Throughout her time in the Senate, Sen. Cantwell has been a staunch advocate for protecting and strengthening critical salmon populations. Sen. Cantwell secured a historic $2.85 billion investment in salmon and ecosystem restoration programs in the Bipartisan Infrastructure Law, including $400 million for a new community-based restoration program focused on removing fish passage barriers.
Source: United States Senator for Nevada Cortez Masto
FTP for TV stations of her remarks is available here.
Cortez Masto highlighted the Legal Aid Center of Southern Nevada’s Resiliency and Justice Center that has helped survivors and their families access the resources they need
Washington, D.C. – Senator Catherine Cortez Masto (D-Nev.) spoke on the Senate floor today ahead of the 7th anniversary of the Route 91 Harvest Festival mass shooting in Las Vegas on October 1, 2017, the deadliest in modern American history.
Cortez Masto honored the victims and their families, and she highlighted the work being done at the Resiliency and Justice Center in Las Vegas to connect survivors of violent crime with resources to help them heal.
Below are her remarks as prepared for delivery:
M. President, I rise today along with my colleague from Nevada, Senator Jacky Rosen, to commemorate seven years since the deadliest mass shooting in America’s recent memory.
Seven years ago, people from across the country gathered in Las Vegas for the Route 91 Harvest music festival – three days of live performances, dancing, and fun.
On October 1st, what was supposed to be a joyous conclusion to the festival turned into a nightmare.
In just 10 minutes, from the window of a nearby hotel, a gunman fired more than 1,000 shots into the festival crowd.
58 people were killed, and two more died later from their injuries. More than 800 were wounded. Thousands of families were forever changed.
I remember sitting with some of them at the Reunification Center, hoping and praying that their loved ones would return to them. Some prayers were never answered.
But as the city of Las Vegas mourned, we also came together. Neighbors reached out to one another and helped each other heal. Programs were created to help our city cope and move forward. We were resilient. We are Vegas Strong.
Out of tragedy and suffering, there was hope.
Let me tell you about something that gives me hope.
Three weeks after the events of 1 October, the Legal Aid Center of Southern Nevada and Clark County set up the Vegas Strong Resiliency Center as a resource for survivors of the Route 91 Harvest Festival and their families.
After a tragedy like a mass shooting, the families of victims and survivors alike have to adjust to a new normal. Imagine living through the horrors of that October night, healing from injuries, or grieving the loss of a loved one whose life was taken so suddenly by a senseless act of violence.
And then imagine, after you’ve been left with all that trauma, that you’re now faced with the complexities of paying medical bills, or dealing with insurance companies. It’s overwhelming. Where do you even begin? How are you going to navigate it all?
The Vegas Strong Resiliency Center was designed to ensure families didn’t have to go through this process alone.
The Center brought community partners with different resources to the table to deliver anything survivors might need – from support groups to mental health services to financial advice.
I’ve seen some of their great work myself.
Their incredible Executive Director, Tennille [ten-KNEEL] Pereira [puh-RARE-uh], shared the story of a survivor of 1 October who, after recovering from being shot that night, could no longer make her way up the stairs to reach her apartment. In response, her landlord threatened to evict her!
So, she got in touch with the Vegas Strong Resiliency Center. The Center contacted her landlord, got them to back down, and then helped their client move to another apartment that was accessible to her.
This is what happens when the community comes together to help each other. The Resiliency Center connected survivors with the resources they needed – right when they needed them. It gave survivors hope, and it helped them find light in the darkness.
In the seven years since its establishment, the Center not only helped survivors of the Route 91 Harvest Festival, but through the lessons learned from that crisis, it actually improved services for victims of violent crime throughout Southern Nevada.
That includes human trafficking survivors, domestic abuse survivors, and even first responders who have post-traumatic stress.
And when Las Vegas was struck by another tragedy last year, after a gunman killed three people at the University of Nevada, Las Vegas, the staff at the Resiliency Center were able to immediately respond, providing resources and programs for students, families, faculty, and staff.
In January of this year, the Vegas Strong Resiliency Center was renamed the Resiliency and Justice Center, and its mission expanded to serve all survivors of violent crime in Southern Nevada. They are continuing to grow their staff and their resources, and they’re even getting ready to expand their offices.
I’m proud to support the work of the Resiliency and Justice Center. At a time when our city was shaken to its core, they were there to help us get back on our feet. To help us remember that life goes on after loss. To help us find the strength to rebuild as a community.
And now, as we mark seven years since that terrible evening at the Route 91 Harvest Festival, we also mark seven years of hope and resilience in the city of Las Vegas. We hold the victims and their families in our hearts forever, and we remain Vegas Strong.
The Hon Bill Shorten MP Minister for the National Disability Insurance Scheme Minister for Government Services
The Hon Julie Collins MP MInister for Agriculture, Fisheries and Forestry Minister for Small Business
The Australian Government is working closely with the South Australian Government to support tomato industry workers stood down due to the impacts of tomato brown rugose fruit virus, and ensuring their financial wellbeing is a priority in what is a difficult time for them and their families.
Minister for Government Services Bill Shorten said workers who have been stood down as a result of quarantine measures, would have access to personalised information about the government payments and services available for their circumstances.
“Services Australia has stepped in quickly to provide priority access to its specialist Financial Information Services (FIS) Officers, who can provide comprehensive information on termination payments, superannuation and Centrelink payments,” Minister Shorten said.
“They’ll be working hand-in-hand with the South Australian state government’s taskforce to help these workers through their next steps.
“While this is an evolving situation, the bottom line is that workers impacted should take advantage of the support available through Services Australia, as it’s really important they understand their options.
“Of course income support payments such as Job Seeker may be available, but individual circumstances can impact on eligibility, which is why tailored assistance can be so valuable.
“The FIS staff are highly knowledgeable and can help those facing uncertainty make the right decisions for their personal situation, for the short and longer term.”
For information on how best to manage your financial situation, call our free Financial Information Service on 132 300.
Services Australia also provides comprehensive services for those that do not speak English as a first language, including free interpreting and translation services in over 200 languages. Customers can call the Multilingual Phone Service on 131 202 or visit: servicesaustralia.gov.au/yourlanguage
Additionally, the Government is also aware that Pacific and Timor-Leste workers engaged under the Pacific Australia Labour Mobility (PALM) scheme are affected by the stand down. Services Australia will provide social workers to connect those affected with further supports.
The PALM scheme settings require approved employers to have contingency plans in place for unforeseen circumstances. The Department of Employment and Workplace Relations (DEWR) is working closely with the approved employer to initiate contingency arrangements including redeployment of impacted PALM workers to ensure that they continue to achieve the benefits of participating in the PALM scheme.
PALM workers who have concerns or questions should contact DEWR on 1800 51 51 31.
South Australia’s Department of Primary Industries and Regions is responsible for leading the biosecurity response to the detection of tomato brown rugose fruit virus under the national Emergency Plant Pest Response Deed.
The Australian Government continues to provide support to state and territory governments and domestic industries, and to engage with our trading partners to minimise its impact.
Australia’s biosecurity system is one to be envied, with its strength coming from us all working together and playing our role in protecting Australia from exotic pests, diseases and weeds.
Australia has strong food safety standards and there is no concern for the quality or safety for the purchase of tomatoes. There is no immediate risk to supply chain disruption from the current outbreak in South Australia.
U.S. Senator Josh Hawley (R-Mo.) joined U.S. Senator Ed Markey (D-Mass.) in reintroducing the Warehouse Worker Protection Act.
The bill would protect warehouse workers by prohibiting dangerous work speed quotas that lead to high rates of worker injuries. The newly reintroduced legislation includes new enforcement authority for the Federal Trade Commission (FTC), as well as an exemption for small businesses.
“Corporations too often prioritize profit over their workers’ safety and well-being, treating them like cogs in a machine. It has to stop. This legislation combats the warehouse industry’s worst practices while ensuring corporations do right by their employees in treating them with the dignity they deserve,” said Senator Hawley.
“The Warehouse Worker Protection Act is about protecting the health and dignity of workers from the scourge of corporate greed at Amazon and other large companies,” said Senator Markey. “This movement is strong and growing, and we will not rest until warehouse workers know when they clock in that they will return home unharmed.”
The Warehouse Worker Protection Act was also sponsored by Tina Smith (D-Minn.) and Bob Casey (D-Pa). With Senator Hawley’s support, the legislation now has bipartisan momentum.
Senator Hawley has consistently advocated for American workers, including standing with and voting to support rail workers as they sought a fair deal with sick leave, fighting to keep jobs here in the U.S., and protecting United States Postal Service workers. More information about his past work in support of the American worker can be found on his website.
A copy of the reintroduced legislation can be found here.
Source: United States Senator for Rhode Island Jack Reed
WASHINGTON, DC – The number of Americans living with Alzheimer’s is growing fast. One in three older Americans dies with dementia, according to the Alzheimer’s Association. And Congress needs to wisely prioritize research dollars to effectively combat Alzheimer’s and other forms of dementia.
The fight to find a cure and new treatments for Alzheimer’s got a significant boost this week as the U.S. House of Representatives approved a pair of bipartisan bills backed by U.S. Senator Jack Reed (D-RI) that previously cleared the U.S. Senate.
Now that they have cleared both chambers, the National Alzheimer’s Project Act (NAPA) Reauthorization Act and the Alzheimer’s Accountability and Investment Act (AAIA), are headed to President Joe Biden’s desk to be signed into law.
The NAPA Reauthorization Act reauthorizes NAPA through 2035 as a much needed roadmap for coordinated federal efforts in responding to Alzheimer’s and other forms of dementia. Since NAPA was first passed in 2011, Alzheimer’s research funding has increased seven-fold. Today, funding for research into Alzheimer’s and other dementias totals over $3.8 billion.
The Alzheimer’s Accountability and Investment Act would require the Director of the National Institutes of Health (NIH) to submit an annual budget to Congress estimating the funding necessary to fully implement NAPA’s research goals. This will help ensure Congress can make a well-informed decision to determine necessary Alzheimer’s research funding levels.
“This is a positive step toward renewing the nation’s commitment to healthy aging, boosting funding for Alzheimer’s research, and improving dementia care in Rhode Island and nationwide,” said Senator Reed, a cosponsor of both bills. “Alzheimer’s is a devastating disease that impacts millions of families. While real progress has been made over the last decade since we enacted NAPA, we’ve got to keep up the positive momentum. These bipartisan bills will help ensure federal research investments into Alzheimer’s and dementia are wisely allocated and can fund breakthroughs, a cure, and effective help for caregivers and families struggling with this disease.”
According to the Alzheimer’s Association, 6.9 million older Americans – including 22,000 Rhode Islanders — are living with Alzheimer’s disease in 2024, a nationwide increase of about 200,000 cases over last year, and the population is projected to nearly double by 2060 to 14 million people.
Alzheimer’s costs the United States an astonishing $360 billion per year, including $231 billion in costs to Medicare and Medicaid, according to the Alzheimer’s Association, up $15 billion over the previous year
As a member of the Appropriations subcommittee that oversees funding for the National Institutes of Health (NIH), Senator Reed helped provide a $275 million increase for Alzheimer’s disease research in the fiscal year 2025 Senate Labor, Health and Human Services, Education, and related Agencies Appropriations bill. In 2019, NIH awarded Brown University researchers, along with Boston-based Hebrew SeniorLife (HSL), over $53 million in federal research funds to lead a nationwide effort to improve health care and quality of life for people living with Alzheimer’s disease and related dementias, as well as their caregivers.
In 2011, U.S. Senator Susan Collins (R-ME) led passage of the National Alzheimer’s Project Act (P.L. 111-375), which Senator Reed supported. NAPA convened a panel of experts, who created a coordinated strategic national plan to prevent and effectively treat Alzheimer’s disease by 2025. The law was set to expire soon and needed to be reauthorized to ensure that research investments remain coordinated, and their impact is maximized.
Source: United States Small Business Administration
SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to Washington businesses and residents as a result of President Biden’s major disaster declaration, U.S. Small Business Administration’s Administrator Isabella Casillas Guzmanannounced.
The declaration covers the Confederated Tribes and Bands of the Yakama Nation as a result of wildfires that occurred June 22 – July 8.
“SBA’s mission-driven team stands ready to help Washington’s small businesses and residents impacted by wildfires,” said Administrator Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available to businesses regardless of any property damage.
Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.688 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
As soon as Federal-State Disaster Recovery Centers open throughout the affected area, SBA will provide one-on-one assistance to disaster loan applicants. Additional information and details on the location of disaster recovery centers is available by calling the SBA Customer Service Center at (800) 659-2955.
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About the U.S. Small Business Administration The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov.
His Excellency Mr. Wang Yi, Minister of Foreign Affairs of the People’s Republic of China,
His Excellency Mr. Felix Mutati, Minister of Technology and Science of the Republic of Zambia,
Excellencies,
Ladies and gentlemen,
I thank the Governments of China and Zambia for organising this High-level Meeting on International Cooperation on Capacity-Building of Artificial Intelligence.
We stand at a truly pivotal moment. Artificial Intelligence is developing at an unprecedented rate, transforming our world in ways we are only beginning to comprehend.
It has the potential to help rescue the SDGs and usher in a more durable and equitable future. Recent studies show us that AI can help accelerate nearly 80 per cent of the SDGs.
Yet, we face a stark reality: AI opportunities are not evenly shared.
Today, AI capacities are concentrated in a handful of powerful companies – and even fewer countries. The leaders of these companies are exclusively men, and the algorithms they are building risk reinforcing gender and geographic biases.
Meanwhile, too many countries face significant challenges in accessing AI tools, and too many women and girls lack access to education that could be a platform for careers in this emerging field.
Excellencies,
To truly harness AI’s potential, we need international cooperation – and solidarity. We must urgently bridge the AI capacity gap for developing countries and for women and girls. The risks posed by AI are equally uneven.
Without adequate guardrails, AI could further exacerbate inequalities and digital divides – once again disproportionately affecting the most vulnerable.
Excellencies,
Technology should benefit everyone.
AI should be a tool for closing the developmental divide, the digital divide, and the gender divide.
As we build AI capacity, we must also develop shared knowledge and digital public goods.
This can be achieved through networks where expertise and AI training data are pooled and made available to everyone who needs them.
Interconnected AI centres across different countries and continents can accelerate the advancement of AI, promote data diversity and inclusivity, and foster cooperation rather than competition.
Last week, the Secretary-General’s High-level Advisory Body on AI issued its final report, with a series of recommendations including:
• Creating an AI Capacity Development Network to connect AI centres and provide expertise and training data especially for developing countries;
• Establishing a Global Fund on AI for the Sustainable Development Goals.
• And developing a Global Data Framework, so that local AI ecosystems can flourish.
Many of the recommendations from this Body have been integrated into the recently agreed Global Digital Compact – a landmark agreement that will advance global digital cooperation.
The Compact includes the first truly universal agreement on the international governance of Artificial Intelligence.
It also supports networks and partnerships to build capacity on AI in developing countries:
Commits governments to establish an independent international Scientific Panel on AI;
And it represents the first collective effort to reach agreed interoperability standards.
Excellencies,
The United Nations is uniquely placed to promote digital cooperation and support the global exchange of best practices for AI capacity building.
I urge you all to promote a collaborative AI, and to engage in flourishing partnerships – in line with the Global Digital Compact.
Together, let us develop innovative and inclusive tools for AI governance and cooperation – and build a more sustainable and equitable future for all, where no one is left behind.
Source: United States Senator Pete Ricketts (Nebraska)
September 25, 2024
WASHINGTON, D.C. – Today, U.S. Senator Pete Ricketts (R-NE), a member of the Senate Committee on Foreign Relations, introduced five pieces of legislation aimed at combatting the influence of the Chinese Communist Party (CCP) in America’s agriculture and financial sectors.
“The CCP is the single greatest threat to America’s national security and financial independence,” said Senator Ricketts. “A CCP-led world would mean coercion instead of choice, tyranny instead of liberty, and dictatorship instead of democracy. The only way to combat this threat is with a strong, strategic, all-of-government approach. These bills move us closer to that.”
The Securing American Agriculture Act bolsters and protects our domestic food and agriculture supply chains and reduces America’s reliance on foreign adversaries.
The Protecting Endowments from our Adversaries Act disincentivizes endowments from investing in adversarial entities flagged by the U.S. Government as threatening to our national security.
The No Capital Gains Allowance for American Adversaries Act eliminates tax breaks for investments made in companies based in China, Russia, Iran, North Korea, and Belarus.
The PRC Military and Human Rights Capital Markets Sanctions Act prevents Wall Street firms from using Americans’ investment dollars to effectively underwrite the CCP’s human rights abuses and aggression.
The No China in Index Funds Act prevents index mutual funds from holding Chinese stocks.
The bills were first covered by Fox News here.
BACKGROUND:
Securing American Agriculture Act – The PRC’s strategic control over crucial sectors of our food and agricultural supply chain poses a serious national security threat. In recent years, the PRC gained significant market share in the production of essential agricultural inputs like vitamins, veterinary pharmaceuticals, and crop protection tools. China now controls over 90% of vitamin C and vitamin B6 production and up to 85% of amino acids used in animal feed.
Losing access to these key inputs could drastically reduce agricultural productivity, increase food prices, and undermine domestic food security. A University of Wisconsin-Whitewater study found that, if left unchecked, the PRC’s domination of the amino acids market would destroy 30,000 U.S. jobs and reduce economic activity by $15 billion per year. The Securing American Agriculture Act bolsters and protects our food production supply chain.
Specifically, the bipartisan bill:
Requires the U.S. Department of Agriculture, in conjunction with the U.S. Trade Representative and the Department of Commerce, to conduct an annual threat assessment of critical food and agricultural supply chains.
Requires the Secretary of Agriculture to provide recommendations to mitigate potential threats from the PRC and for legislative and regulatory actions to reduce barriers to domestic critical input production.
U.S. Representatives Ashley Hinson (R-IA-02) and Elissa Slotkin (D-MI-07) haveintroduced companion legislation in the House. The Senate bill is co-sponsored by Senators Tammy Baldwin (D-WI), Mike Braun (R-IN), John Barrasso (R-WY), John Cornyn (R-TX), Shelley Moore Capito (R-WV), Deb Fischer (R-NE), Cynthia Lummis (R-WY), Mike Crapo (R-ID), Jim Risch (R-ID), Rick Scott (R-FL), and Eric Schmitt (R-MI).
A one-pager on the bill can be found here. Bill text is available here.
Protecting Endowments from Our Adversaries Act (PEOAA) – U.S. University endowment dollars have helped fund technology behind the CCP’s surveillance of Uyghur Muslims in China. Many endowment fund portfolios own Chinese stocks listed on American exchanges, either directly or indirectly. Tax-advantaged endowment dollars are supposed to be used to lower tuition costs and improve education, not to fund our adversaries.
Specifically, the bill:
Imposes a 50% excise tax on initial investments in adversarial entities on the Entity List, Military End User List, Unverified List, or FCC Covered List.
Imposes a 100% excise tax on the realized gains derived from listed investments one year after an entity is listed.
Applies to private college and university endowments over $1 billion.
U.S. Representative Greg Murphy (R-NC-3) has introduced companion legislation in the House. The Senate bill is co-sponsored by Senator Tom Cotton (R-AR) And Deb Fischer (R-NE).
One-pager can be found here. Bill text is available here.
No Capital Gains Allowance for American Adversaries Act – According to a comparative analysis of capital gains tax rates by the Law Library of Congress, many countries have investment incentives not applicable to some foreign investments. For example, China provides investment incentives through its tax code, but foreign investments are eligible only with the pre-approval of the Chinese government. The No Capital Gains Allowance for American Adversaries Act stops subsidizing our adversaries’ investments in the United States.
Specifically, the bipartisan bill:
Eliminates the capital gains tax break for investments in companies based in China, Russia, Belarus, Iran, and North Korea.
Eliminates a related tax break, the “step-up in basis” at death, for investments in such companies.
Requires disclosure to the Securities and Exchange Commission (SEC) that no tax breaks are available for these stocks.
U.S. Representatives Brad Sherman (D-CA-32) and Victoria Spartz (R-IN-05) haveintroduced companion legislation in the House.
One-pager can be found here. Bill text is available here.
People’s Republic of China (PRC) Military and Human Rights Capital Markets Sanctions Act – A recent report identified 144 Chinese companies, or their affiliates, whose practices were so adverse to U.S. interests that it is illegal for Americans to buy their products. Most of these companies have been found to violate human rights. Others play an integral role in the CCP’s military-industrial complex. While buying the products of these companies is illegal, it is still legal to buy their stock. The PRC Military and Human Rights Capital Markets Sanctions Act fixes this problem.
Specifically, the bipartisan bill:
Prohibits Americans from purchasing, selling, or holding publicly-traded securities of companies that appear on sanctions lists or have an affiliate on the sanctions list.
Prohibits Americans from purchasing, selling, or holding publicly-traded securities that are derivatives of securities issued by a sanctioned company.
Prohibits Americans from purchasing, selling, or holding securities that provides investment exposure to a publicly-traded security issued by a sanctioned company or affiliate.
Requires divestment from the prohibited securities within 180 days.
U.S. Representatives Brad Sherman (D-CA-32) and Victoria Spartz (R-IN-05) haveintroduced companion legislation in the House.
One-pager can be found here. Bill text is available here.
No China in Index Funds Act – Index mutual funds minimize their expenses by simply investing in all the companies in a certain market sector, without looking closely at the individual companies. There are unique difficulties in evaluating the risks of investing in Chinese companies. Americans should not invest in these companies without carefully evaluating the risk. The No China in Index Funds Act will keep these hard-to-evaluate Chinese stocks out of index mutual funds.
Specifically, the bipartisan bill:
Prohibits index funds from investing in Chinese companies.
Requires index funds to divest from such investments within 180 days.
U.S. Representatives Brad Sherman (D-CA-32) and Victoria Spartz (R-IN-05) haveintroduced companion legislation in the House.
One-pager can be found here. Bill text is available here.
Source: United States Senator for Vermont – Bernie Sanders
M. President: Over 4 months ago, Steward Health Care and the more than 30 hospitals it owns in 8 states declared bankruptcy with some $9 billion in debt.
This bankruptcy has caused devastating harm to patients, health care workers and entire communities from Massachusetts to Arizona.
In July, the Senate Health, Education, Labor, and Pensions Committee (the HELP Committee) that I chair voted to authorize a bi-partisan investigation into the financial mismanagement of Steward Health Care.
On that same day, the HELP Committee also voted to subpoena Ralph de la Torre, the CEO of Steward Health Care, to testify at a hearing on this very important issue on September 12th.
Sadly, Dr. de la Torre made the unfortunate and unacceptable decision not to show up at this hearing in defiance of a Congressional subpoena.
So, last week, the HELP Committee voted 20-0 on two resolutions to hold Dr. de la Torre accountable for his failure to appear at this hearing.
The first resolution instructs Senate Legal Counsel to bring a civil suit in the District Court for the District of Columbia to require Dr. de la Torre’s compliance with the subpoena and his testimony before the HELP Committee.
The second resolution would refer this matter to the U.S. Attorney for the District of Columbia to criminally prosecute Dr. de la Torre for failing to comply with the subpoena.
In a few moments, I will be asking unanimous consent to pass the second resolution which seeks to hold Dr. de la Torre in criminal contempt for failing to comply with the Congressional subpoena.
But before I do that let me take a moment to briefly explain why the HELP Committee believed it was so important for Dr. de la Torre to testify before Congress.
First, we wanted Dr. de la Torre to explain to us how it could happen that at least 15 patients at hospitals owned by his company died as a result of a lack of medical equipment or staffing shortages and why at least 2,000 other patients were put in “immediate peril” according to federal regulators.
That is something that the American people deserve to know.
But, perhaps most importantly, we wanted to know how it could happen that while thousands of patients and health care workers suffered and communities around the country have been devastated as a result of Steward Health Care’s financial mismanagement, Dr. de la Torre and the companies he owned were able to receive at least $250 million in total compensation over the past 4 years.
For months, Senator Cassidy, the Ranking Member of the HELP Committee; Senator Markey, the Chair of our healthcare subcommittee; and I have asked Dr. de la Torre to testify before our committee to answer these questions.
And time after time he has arrogantly refused.
That is absolutely unacceptable.
So, today, I will ask the Senate to unanimously adopt this resolution seeking to hold Dr. de la Torre in contempt of Congress.
Let me take this opportunity to thank Ranking Member Cassidy and his staff for working with me and my staff on this important issue.
The passage of this resolution by the full Senate will make clear that:
Even though Dr. de la Torre may be worth hundreds of millions of dollars;
Even though he may be able to buy fancy yachts, private jets, and luxurious accommodations throughout the world;
Even though he may be able to afford some of the most expensive lawyers in America, no. Dr. de la Torre is not above the law.
If you defy a Congressional subpoena, you will be held accountable no matter who you are or how well-connected you may be.
The goal of the HELP Committee throughout this entire process has been to make sure not only that we have a complete understanding of the financial chicanery surrounding Steward Health Care, but to do everything we can to make sure that such a travesty never happens again.
M. President: I ask unanimous consent that two letters be printed in the congressional record—one from Dr. de la Torre’s attorneys to the Committee, and a response letter from Ranking Member Cassidy and me.
Source: United States Senator for Vermont – Bernie Sanders
Today, with colleagues, I introduced Joint Resolutions of Disapproval seeking to block certain arms sales to Israel. The Senate will vote on these resolutions when it reconvenes in November. Let me explain why these arms sales must not proceed.
Israel clearly had the right to respond to Hamas’ horrific terrorist attack on October 7th, which killed 1,200 innocent Israelis and took hundreds of hostages. But Prime Minister Netanyahu’s extremist government has not simply waged war against Hamas. It has waged all-out war against the Palestinian people, killing more than 41,000 Palestinians and injuring more than 95,000 – 60 percent of whom are women, children, or elderly people. Netanyahu has bombed hospitals and schools, starved children, destroyed infrastructure and housing stock, and made life unlivable in Gaza. The United States must end its complicity in this atrocity.
Sending more weapons is not only immoral, it is also illegal. The Foreign Assistance Act of 1961 and the Arms Export Control Act lay out clear requirements for the use of American weaponry – Israel has egregiously violated those rules. American weapons have been used indiscriminately, and several of the systems included in these sales are responsible for a large number of civilian casualties. There is a mountain of documentary evidence demonstrating that these weapons are being used in violation of U.S. and international law. It is also clear that Israel has blocked U.S. humanitarian aid, making it ineligible for U.S. security assistance under Section 620I of the Foreign Assistance Act.
There are also clear policy reasons not to proceed with these arms sales. For months, the Biden Administration has been trying to reach a ceasefire deal that would secure the release of the hostages and allow more aid to flow into Gaza. Every time an agreement appears close, Netanyahu introduces new demands and sinks the deal. It is clear that Netanyahu is prolonging the war to cling to power and avoid prosecution for corruption. Meanwhile, his government has also overseen record illegal settlement expansion in the West Bank and unleashed a wave of violence there that has killed nearly 700 Palestinians, including 150 children, and several Americans over the last 11 months.
And now the world must contend with the dramatic escalation in Lebanon.
President Biden has emphatically called for de-escalation and said that a “full-scale war is not in anyone’s interest.” He has underlined that a ceasefire for hostage deal in Gaza is the key to a diplomatic solution to the wider conflict. That is the policy of the United States: to pursue a ceasefire for hostage deal that will prevent further escalation, stop the killing and the rocket attacks, allow displaced people to return to their homes sooner, and finally bring the hostages home.
Netanyahu has resisted these calls. Instead, at every stage of this conflict, when presented with the choice between military escalation and diplomacy, Netanyahu has chosen to escalate to preserve his coalition at home.
For all of these reasons – moral, legal, and strategic – sending more weapons to Netanyahu’s extremist government is unacceptable. That is why many of our closest allies have already stopped offensive arms transfers. Congress must now act to uphold U.S. and international law and use our leverage to advance U.S. policy goals.
The Joint Resolutions of Disapproval are as follows:
Sanders, Welch, Merkley to block the sale of additional Joint Direct Attack Munitions (JDAMs);
Sanders, Welch, Merkley to block the sale of 120mm tank cartridges;
Sanders, Welch, Merkley to block the sale of 120mm High Explosive mortar cartridges;
Sanders, Welch, Merkley to block the sale of enhanced JDAM receivers;
Sanders and Welch to block the sale of Modified M1148A1P2 Medium Tactical Vehicles;
Sanders to block the sale of fifty new F-15IA aircraft, associated weapons and parts, as well as upgrade kits for existing F-15 aircraft.
Read the fact sheet, here.
SAN CARLOS, Calif., Sept. 25, 2024 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven financial services company, today announced that it has signed a definitive agreement to sell its credit card portfolio to Continental Finance. This transaction reflects a key milestone towards Oportun’s initiative to enhance profitability in 2024 and beyond by simplifying the business and driving performance in its three core products: unsecured personal loans, secured personal loans, and its award-winning Set & Save™ savings product.
The closing date is now anticipated to be on or around November 10, 2024, rather than by the end of the third quarter as indicated on the August 8th second quarter earnings call. Due to the revised closing date, the sale is expected to be accretive by approximately $2 million to Adjusted EBITDA in 2024 as compared to the $4 million previously indicated. Oportun continues to expect that the transaction will result in Adjusted EBITDA favorability of approximately $11 million in 2025.
“We’re pleased to have signed a definitive agreement to sell our credit card portfolio to Continental Finance, a leading U.S. credit card marketer and servicer,” said Jonathan Coblentz, Chief Financial Officer & Chief Administrative Officer of Oportun. “This transaction underscores our commitment to focus on winning in the marketplace with our core product lines, thereby enhancing the value we can deliver to our shareholders.”
Tamer El-Rayess, Continental Finance’s Chairman of the Board, said “Continental Finance is excited to enter into an agreement to acquire Oportun’s Visa credit card portfolio with its partner bank, The Bank of Missouri. The Continental Finance team will be collaborating with the Oportun team to ensure a seamless transition of their customers onto our platform. Our goal is to continue to provide exceptional, personalized service to these valued customers for many years to come.”
About Oportun Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $18.7 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually. For more information, visit Oportun.com.
About Continental Finance With over 5.3 million credit cards managed since its founding, Continental Finance prides itself on excellent customer service and access to bank-issued credit products with innovative features that provide affordable and safe options to consumers with poor or limited credit. Utilizing responsible innovation, Continental Finance works to provide each customer with the necessary educational tools for them to be successful in managing their personal credit.
Forward-Looking Statements This press release contains forward-looking statements. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements as to future performance and financial position; expectations regarding the impact of the sale of the Company’s credit card portfolio, including expected timelines; our planned products and services; achievement of the Company’s strategic priorities and goals and the plans and objectives of management for our future operations, are forward-looking statements are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause Oportun’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Oportun has based these forward-looking statements on its current expectations and projections about future events, financial trends and risks and uncertainties that it believes may affect its business, financial condition and results of operations. These risks and uncertainties include those risks described in Oportun’s filings with the Securities and Exchange Commission, including Oportun’s most recent annual report on Form 10-K and most recent quarterly report on Form 10-Q. These forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, Oportun disclaims any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.
Investor Contact Dorian Hare (650) 590-4323 ir@oportun.com
Media Contact Michael Azzano Cosmo PR for Oportun (415) 596-1978 michael@cosmo-pr.com
Source: United States Senator for Rhode Island Jack Reed
WASHINGTON, DC – The number of Americans living with Alzheimer’s is growing fast. One in three older Americans dies with dementia, according to the Alzheimer’s Association. And Congress needs to wisely prioritize research dollars to effectively combat Alzheimer’s and other forms of dementia.
The fight to find a cure and new treatments for Alzheimer’s got a significant boost this week as the U.S. House of Representatives approved a pair of bipartisan bills backed by U.S. Senator Jack Reed (D-RI) that previously cleared the U.S. Senate.
Now that they have cleared both chambers, the National Alzheimer’s Project Act (NAPA) Reauthorization Act and the Alzheimer’s Accountability and Investment Act (AAIA), are headed to President Joe Biden’s desk to be signed into law.
The NAPA Reauthorization Act reauthorizes NAPA through 2035 as a much needed roadmap for coordinated federal efforts in responding to Alzheimer’s and other forms of dementia. Since NAPA was first passed in 2011, Alzheimer’s research funding has increased seven-fold. Today, funding for research into Alzheimer’s and other dementias totals over $3.8 billion.
The Alzheimer’s Accountability and Investment Act would require the Director of the National Institutes of Health (NIH) to submit an annual budget to Congress estimating the funding necessary to fully implement NAPA’s research goals. This will help ensure Congress can make a well-informed decision to determine necessary Alzheimer’s research funding levels.
“This is a positive step toward renewing the nation’s commitment to healthy aging, boosting funding for Alzheimer’s research, and improving dementia care in Rhode Island and nationwide,” said Senator Reed, a cosponsor of both bills. “Alzheimer’s is a devastating disease that impacts millions of families. While real progress has been made over the last decade since we enacted NAPA, we’ve got to keep up the positive momentum. These bipartisan bills will help ensure federal research investments into Alzheimer’s and dementia are wisely allocated and can fund breakthroughs, a cure, and effective help for caregivers and families struggling with this disease.”
According to the Alzheimer’s Association, 6.9 million older Americans – including 22,000 Rhode Islanders — are living with Alzheimer’s disease in 2024, a nationwide increase of about 200,000 cases over last year, and the population is projected to nearly double by 2060 to 14 million people.
Alzheimer’s costs the United States an astonishing $360 billion per year, including $231 billion in costs to Medicare and Medicaid, according to the Alzheimer’s Association, up $15 billion over the previous year
As a member of the Appropriations subcommittee that oversees funding for the National Institutes of Health (NIH), Senator Reed helped provide a $275 million increase for Alzheimer’s disease research in the fiscal year 2025 Senate Labor, Health and Human Services, Education, and related Agencies Appropriations bill. In 2019, NIH awarded Brown University researchers, along with Boston-based Hebrew SeniorLife (HSL), over $53 million in federal research funds to lead a nationwide effort to improve health care and quality of life for people living with Alzheimer’s disease and related dementias, as well as their caregivers.
In 2011, U.S. Senator Susan Collins (R-ME) led passage of the National Alzheimer’s Project Act (P.L. 111-375), which Senator Reed supported. NAPA convened a panel of experts, who created a coordinated strategic national plan to prevent and effectively treat Alzheimer’s disease by 2025. The law was set to expire soon and needed to be reauthorized to ensure that research investments remain coordinated, and their impact is maximized.
One of the Nation’s Largest Fleets Is on the Path to Going Electric Thanks to NREL Tools, Analyses, and Experience
NREL fleet electrification experts are partnering with the U.S. Army and other agencies within the U.S. Department of Defense to accelerate transitioning their nontactical vehicle fleet to electric, like this vehicle plugged into a solar powered charging station at Joint Base Pearl Harbor-Hickam. Photo by Dave Cook
As electric vehicles (EVs) continue to grow their share of the market, several federal agencies are transitioning their own fleets to EVs, too.
At the U.S. Army, for example, 27% of the new or replacement light-duty vehicles (like sedans, minivans, and pickup trucks) ordered in 2022 were EVs or plug-in hybrids, up from just 1% the year before. To maintain the momentum, they needed to know they were making the right decisions on how many EVs they needed and how to manage their charging needs. So, the Army team and other agencies within the Department of Defense (DOD) turned to the National Renewable Energy Laboratory (NREL) for tools, analysis, and guidance.
“The Army has expertise, resources, and funding for fleet electrification,” said NREL’s Leidy Boyce, a research engineer and federal fleet electrification expert. “But having that additional set of eyes—especially those who can offer decades of experience on charger deployment challenges—is what our partners look for when they come to NREL.”
‘We Connect the Dots’
Crosscutting expertise, advanced tools, longtime experience, and responsiveness make NREL’s EV and charging infrastructure deployment experts the go-to fleet electrification resource. In a single year from 2021 to 2022, NREL researchers helped increase EV acquisitions in the federal fleets nearly sixfold.
“It’s more difficult for DOD agencies to manage the many elements of EVSE [electric vehicle supply equipment] rollout than a private fleet company because these agencies are huge and have a critical responsibility for protecting the country that has to be their primary objective,” said Cabell Hodge, NREL’s Analysis and Vehicle Deployment group manager. “Therefore, they look to experts to consult on these matters, and our team fits the bill.”
NREL researchers have worked with DOD since 2016 when they began helping the Navy, Marine Corps, and Army with site assessments to determine the best locations to install EVSE on its bases. More recently, NREL has engaged in complex projects to assess the potential for bidirectional charging as a resilience strategy with the U.S. Army National Guard, built a web tool for the entire federal government to complete EVSE site assessments remotely, and begun exploring the charging needs for privately owned vehicles at every Army base in the country.
“Working with NREL provides assurance that it will be done right the first time,” Boyce said. “More than likely, we have done it before, we have the skills, and we can connect the dots between technologies and deployment strategies through data.”
Tools for Everyone
An electric vehicle is plugged into a charger at Naval Station Mayport. Photo by David Holt
To achieve the nearly sixfold growth in federal fleet EV acquisitions without visiting every federal site, NREL developed tools to identify easy-to-electrify vehicles, group vehicles by location, identify charging station needs, and generate cost estimates for the chargers.
These tools include the Zero-Emission Vehicle Planning and Charging (ZPAC) tool, which was developed in partnership with the U.S. Department of Energy Federal Energy Management Program in planning for future zero-emission vehicle acquisitions, as well as NREL’s marquee EVI-X Modeling Suite of Electric Vehicle Charging Infrastructure Analysis Tools.
In the last two years, DOD’s Environmental Security Technology Certification Program (ESTCP) funded the NREL team to assess where EVs can provide backup power and develop an EVSE site-assessment tool and cost estimator called EVI-LOCATE for federal fleets.
“NREL has been a great partner in DOD’s efforts to electrify our nontactical vehicle fleet,” said Tim Tetreault, the Installation Energy and Water Program manager with ESTCP. “In addition to the tools they’ve developed, like ZPAC and EVI-LOCATE, their expertise and analytical capabilities are helping the department keep pace with the rapidly changing technology and evaluate how the department can potentially gain new capabilities with the transition to EVs.”
“Developing EVI-LOCATE required our team to tap into expertise from many disciplines,” said Ranjit Desai, an electric vehicle charging researcher at NREL. “We relied on the lab’s expertise in fleet operations and on how federal fleets work, our team’s understanding of the duty cycles and operations of DOD fleets, and our analysis capabilities such as financial modeling—all that had to come together to build the tool.”
The NREL researchers also had to be prepared to pivot. As part of developing EVI-LOCATE, the team conducted stakeholder engagement to understand how agencies using the tool needed it to work. DOD fleet managers shared that they needed to transmit EVI-LOCATE results—site recommendations and cost estimates—to a specific government form to request funding from agency leadership to install EVSE. To streamline the process, they wanted EVI-LOCATE to generate results formatted to easily be inputted into the form, rather than the existing generalized report output. In response, the NREL team is crafting a solution to get the tool’s output directly into the form’s format, making the tool even more applicable and valuable for DOD’s specific use case.
The federal fleets team is currently creating a public version of EVI-LOCATE—expected to roll out later in 2024—that will let people anywhere plan for commercial charging stations.
Beyond providing analysis and tools for planning zero-emission vehicle acquisitions and charger installation, NREL researchers use their experience with EVSE deployment to provide recommendations for DOD on which combination of charger power levels is appropriate. Level 1, Level 2, and direct-current fast charging all have different levels of power, charging speeds, and requirements for installation. Deciding what distribution of chargers to use depends on when EVs are being used, the length of each vehicle’s shift, and the number of shifts, among other factors. NREL experts are helping DOD identify the most cost- and energy-efficient mix of chargers.
Additionally, NREL is helping DOD assess how their sites will have to adapt to prepare for increased electricity demand from more EVs. Adapting could mean adjusting charging strategies to balance demand over periods of time or expanding the electrical distribution grid. A potential NREL-developed tool can help entities like DOD select the strategies that work for them.
One of the reasons Hodge enjoys working with DOD is that the resulting analyses and tools can propel the entire industry forward.
“The work tends to be on the cutting edge,” Hodge said. “DOD wants us to conduct critical analysis such as using bidirectional chargers as backup power for critical loads. The analysis and tools we develop for them can then be scaled and shared to support many others interested in EV adoption.”
Desai agreed.
“The DOD fleet is one of the largest fleets in the United States,” he said. “If DOD can transition their nontactical vehicles to zero emissions, that is a high-profile success story for vehicle electrification.”
Learn more about NREL’stransportation and mobility research. And sign up for NREL’s quarterly transportation and mobility research newsletter, Sustainable Mobility Matters, to stay current on the latest news.
Source: United States House of Representatives – Representative Chrissy Houlahan (D-PA)
WASHINGTON, D.C. – Today, Representative Chrissy Houlahan (D-PA) issued the following statement on H.Res. 1469 – Ensuring accountability for key officials in the Biden-Harris administration responsible for decisionmaking and execution failures throughout the withdrawal from Afghanistan, which was voted on the House Floor today.
“I voted no on H.Res. 1469 because it is nothing but political theater. The instinct to point fingers and place blame is not helpful in understanding the mistakes made in the Afghan withdrawal and only adds to the heated rhetoric that is dividing our nation right now. I am on the record as being critical of how the withdrawal was executed, citing issues with how both this administration and the former made decisions counterproductive to lasting stability and peace. But this resolution does nothing to add to a meaningful or actionable dialog. It’s personally and politically punitive, and I won’t participate in it. Instead of condemning the fifteen people listed in this resolution, I will take this opportunity to name those Americans we lost in the ISIS-K attack outside the Kabul airport:
1. Marine Corps Staff Sgt. Darin T. Hoover
2. Marine Corps Sgt. Johanny Rosario Pichardo
3. Marine Corps Sgt. Nicole L. Gee
4. Marine Corps Cpl. Hunter Lopez
5. Marine Corps Cpl. Daegan W Page –
6. Marine Corps Cpl. Humberto A. Sanchez
7. Marine Corps Lance Cpl. David L. Espinoza
8. Marine Corps Lance Cpl. Jared M. Schmitz
9. Marine Corps Lance Cpl. Rylee J. McCollum
10. Marine Corps Lance Cpl. Dylan R. Merola
11. Marine Corps Lance Cpl. Kareem M. Nikoui
12. Navy Hospitalman Maxton W. Soviak
13. Army Staff Sgt. Ryan C. Knauss,” said Houlahan.
Houlahan is an Air Force veteran, an engineer, a serial entrepreneur, an educator, and a nonprofit leader. She represents Pennsylvania’s 6th Congressional District, which encompasses Chester County and southern Berks County. She serves on the House Armed Services Committee and the House Permanent Select Committee on Intelligence. She is the recipient of the U.S. Chamber of Commerce’s Abraham Lincoln Leadership for America Award which “recognizes members who demonstrate the bipartisan leadership and constructive governing necessary to move our country forward” and the Congressional Management Foundation’s 2022 Democracy Award for best Constituent Services in Congress.
Source: United States Senator for Massachusetts Ed Markey
Bill Text (PDF)
Washington (September 25, 2024) – Senator Edward J. Markey (D-Mass.), chair of the Senate Health, Education, Labor, and Pensions (HELP) Subcommittee on Primary Health and Retirement Security, along with new co-sponsor Senator Josh Hawley (R-Mo.), applauded the bipartisan momentum behind the Warehouse Worker Protection Act, legislation that would protect warehouse workers by prohibiting dangerous work speed quotas that lead to high rates of worker injuries. The legislation as re-introduced includes new enforcement authority for the Federal Trade Commission (FTC), as well as an exemption for small businesses. Senator Markey, along with Senators Tina Smith (D-Minn.) and Bob Casey (D-Pa.), first introduced the Warehouse Worker Protection Act in May.
“The Warehouse Worker Protection Act is about protecting the health and dignity of workers from the scourge of corporate greed at Amazon and other large companies,” said Senator Markey. “This movement is strong and growing, and we will not rest until warehouse workers know when they clock in that they will return home unharmed.”
“Corporations too often prioritize profit over their workers’ safety and well-being, treating them like cogs in a machine. It has to stop. This legislation combats the warehouse industry’s worst practices while ensuring corporations do right by their employees in treating them with the dignity they deserve,” said Senator Hawley.
“The momentum to protect workers is growing. These big companies hold a lot of power, they are literally controlling the lives of workers minute by minute with their productivity metrics and quotas,” said Senator Smith. “With this bill, we are saying, enough is enough. We’re putting accountability into this system and power back in the hands of workers subjected to systems that drive profits for billionaires while they wring workers dry.”
“I have long fought to ensure that workplaces protect the health and safety of their employees. When giant corporations use intrusive surveillance technology and AI to track productivity, they can force warehouse workers to skip breaks and jeopardize their health and the health of their colleagues—all to meet quotas set by algorithms,” said Senator Casey. “By cracking down on dangerous surveillance technology, this legislation will help workers stand up for their own health and safety.”
A copy of the reintroduced legislation can be found HERE.
It is cosponsored by Sherrod Brown (D-Ohio), Bernie Sanders (I-Vt.), Alex Padilla (D-Calif.), Kirsten Gillibrand (D-N.Y.), Richard Blumenthal (D-Conn.), Peter Welch (D-Vt.), Elizabeth Warren (D-Mass.), and Laphonza Butler (D-Calif.).
The Warehouse Worker Protection Act is endorsed by the International Brotherhood of Teamsters, the United Food and Commercial Workers, the National Employment Law Project (NELP), the Athena Coalition, and Oxfam America.
A series of webinars from the Bank of Russia will help seniors navigate the world of financial products and services better. Listeners will learn how to manage their property, formalize an inheritance, protect themselves from fraudsters, and use modern financial technologies with more confidence.
The new course for the first time announces the topic “Expanding financial horizons: cash, non-cash, digital money.” In these classes, pensioners will be told in detail how the various forms of national currency differ, what advantages and opportunities they have.
Webinars for the older generation will end on December 13. Participants will be able to receive certificates of completion of the course. To do this, you need to answer a few short questions in the questionnaire at the beginning of each lesson and actively participate in the discussion.
The duration of the lesson is 45 minutes. Broadcasts are held on weekdays, from 01:30 to 16:10 Moscow time, so residents of all time zones will be able to choose a convenient time and date for the online lesson.
The schedule, information about experts, teachers and other materials are published onproject website.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
Source: United States Senator Mike Braun (Indiana)
WASHINGTON—U.S. Senator Mike Braun questioned Novo Nordisk CEO, Lars Fruergaard Jørgensen, at the Senate Health, Education, Labor and Pensions Committee hearing on Tuesday about the high prices of the company’s weight loss drug, Ozempic, in the United States.
“This has everything to do with a system that’s broken with no transparency, no competition, barriers to entry, and by the way a consumer who doesn’t have the tools to really measure what the best value is.”—Sen. Mike Braun
Partial Transcript of Senator Braun’s questions:
Braun: “Are you making a profit on your Ozempic product when you’re selling it to Australia for $87 and you’re selling to the U.S. for $936? Are you making a profit at $87?
Jørgensen: “Yes, we are and the price you mentioned in the U.S. is not what we get. That’s the list price.
Braun: “So what are you getting in the U.S.? What price?”
Jørgensen: “So I mentioned that on average for our products we give 74% in rebates to PBMs.”
Braun: “And that was the chart that Senator Marshall held up that PBMs are making 74% and you’re getting 26%. So, you’ve got a screwed-up industry. Number one, when I’ve talked to other pharma folks, they regret that PBMs ever came into it. It would seem like since you make the product, that you could disassemble them or do something to go around it, if in fact this place won’t do something about it. Have you ever thought of that?”
Jørgensen: “It’s very difficult Senator because they control what insurance is put in front of patients so they have integrated themselves with insurance companies and we negotiate against the PBMs, but they’re owned by the insurance companies so no matter what we do, they decide what products—”
Braun: “Okay- and that’s kind of the conundrum, but you’re making a profit at $87 and of the $936, it would be the list price? Is that total being split between you and the PBM? I know you give big discounts to the PBM. Why do give them such large discounts for them to make that much money?”
Jørgensen: “On this we have a high list price and give them rebates, we are not making it onto the insurance formulary. So, they make a fee based on the list price, you mentioned distribution, they don’t get a flat fee for the distribution.”
Braun: “So, after you give the discounts, and you do everything, what is your revenue on Ozempic, roughly?”
Jørgensen: “I don’t have that number from the top of my head.”
Braun: “That is something that ought to be on the top of your head because most of us would want to see that so you could make the case against PBMs. That basic lack of transparency, that to me comes from the top, that cloaks the system, in general, is what is impacting the future of why in our own country it is 18% of our GDP and from Canada and Europe it is 12% of their GDP, Eastern Europe it is 6 to 7 %. And yes, rationing is maybe going to be one of the results, but it should never be to where something is going to cost that much more here versus there when you’re making a profit on it. Until you figure that out, everyone is going to think your industry is screwed up.”
Senator Braun is the leader in the Senate on reforming PBMs and lowering drug prices through transparency:
Senator Braun’s landmark transparency legislation – the Health Care PRICE Transparency Act – would reveal all negotiated rates and cash prices between plans and providers so Americans can know the true cost of health care services before they pan, bringing down prices.
Senator Braun’s Drug Price Transparency Act would end the broken PBM system by requiring insurers and PBMs to pass rebates directly to consumers enrolled in commercial health plans and Medicare Part D.
Source: United States Senator Mike Braun (Indiana)
WASHINGTON—Today, Senator Braun celebrated the passage of the House version of the Protecting American Agriculture from Foreign Adversaries Act of 2024, led by Representative Newhouse. This bill in the Senate was led by Senator Mike Braun and Senator Tommy Tuberville and was co-sponsored by Sen. Manchin, Sen. Cotton, Sen. Tester, Sen. Marshall, Sen. Fetterman, Sen. Grassley, Sen. Blackburn, Sen. Ricketts, Sen. Barrasso, Sen. Britt, Sen. Baldwin, Sen. Young, Sen. Fischer, Sen. Ernst, and Sen. Lummis.
The Protecting American Agriculture from Foreign Adversaries Act of 2024 would add the Secretary of Agriculture to the Committee on Foreign Investment in the United States (CFIUS) to add another layer of scrutiny on foreign acquisitions of U.S. farmland and agricultural industries and, specifically, flag farmland purchases by foreign adversaries like China, North Korea, Russia and Iran for CFIUS. This will add much-needed extra oversight in this process. According to the USDA, over 43.4 million acres of U.S. agricultural land is foreign-owned.
“The Protecting American Agriculture from Foreign Adversaries Act of 2024 has now passed the House, bringing us one step closer to protecting American farmland from foreign adversaries. Now it’s time to pass my bipartisan Senate version.”— Sen. Mike Braun
This bill is sponsored by the Indiana Farm Bureau, American Farm Bureau, Indiana Soybean Alliance, Indiana Corn Growers Association, and the National Cattleman’s Beef Association.
Source: United States Senator Mike Braun (Indiana)
Braun, Tuberville, Manchin, Cotton, Tester, Marshall, Fetterman, Grassley, Blackburn, Ricketts, Barrasso, Britt, Baldwin, Young, Fischer, Ernst, and Lummis lead Senate version of bill expected to move in House this week
WASHINGTON—Today, Senator Braun, Sen. Tuberville, Sen. Manchin, Sen. Cotton, Sen. Tester, Sen. Marshall, Sen. Fetterman, Sen. Grassley, Sen. Blackburn, Sen. Ricketts, Sen. Barrasso, Sen. Britt, Sen. Baldwin, Sen. Young, Sen. Fischer, Sen. Ernst, and Sen. Lummis introduced the Protecting American Agriculture from Foreign Adversaries Act of 2024 to add the Secretary of Agriculture to the Committee on Foreign Investment in the United States (CFIUS) to add another layer of scrutiny on foreign acquisitions of U.S. farmland and agricultural industries and, specifically, flag farmland purchases by foreign adversaries like China, North Korea, Russia and Iran for CFIUS. This will add much-needed extra oversight in this process. According to the USDA, over 43.4 million acres of U.S. agricultural land is foreign-owned.
Rep. Dan Newhouse introduced the legislation in the House of Representatives.
The House of Representatives is expected to move on this legislation this week.
The House Rules Committee met about this bill Monday, September 9.
“Chinese ownership of American farmland increased more than 20-fold in the past decade. The amount of American soil in the hands of our foreign adversaries will only go up if we do not implement restrictions and oversight, especially on nations that compromise our national security and agricultural supply chains. I’m proud to lead this effort to protect American farms and food security.”— Sen. Mike Braun
“Joe Biden and Kamala Harris have bowed to China every chance that they get—even when it comes to our agriculture industry. In the last decade alone, we have seen a surge of over 35% in foreign land purchases—including in my home state of Alabama. We can’t give our adversaries like China, Russia, North Korea, and Iran room to negatively influence our agricultural supply chains and food production. Food security is national security, which is why I’m proud to introduce this legislation with Senator Braun that ensures the Secretary of Agriculture has a seat at the table on CFIUS and the opportunity to push back on proposed foreign ag investments.” – Sen. Tommy Tuberville
“Allowing foreign adversaries like the Chinese Communist Party to purchase American farmland and agribusiness poses an unacceptable risk to our food security and national security,” said Tester. “Congress needs to act, and our bipartisan bill will secure much needed oversight to help stop bad actors who want to undermine our country. I’ll keep working with my Republican colleagues to fully prohibit the Chinese Communist Party from purchasing a single inch of American farmland.”– Sen. Jon Tester
“The purchase of American land by our adversaries like the Chinese Communist Party drains our country of resources and puts our national security at risk. We should not allow anyone working on behalf of hostile foreign powers to own a single inch of American soil.” – Sen. Tom Cotton
“The Protecting American Agriculture from Foreign Adversaries Act of 2024 is an essential tool for safeguarding our nation’s agricultural resources from foreign threats. In recent years, we’ve witnessed a troubling surge in foreign ownership of American farmland, posing serious risks to both our national security and food security. This commonsense bill gives the Secretary of Agriculture a permanent review role on CFIUS to prevent adversaries who don’t share our values from gaining control over American agricultural assets, which will protect our farms in West Virginia and across the country.”—Sen. Joe Manchin
“When adversarial foreign governments buy up U.S. farmland, it undermines economic opportunities for families across America’s Heartland and presents obvious national security threats. The federal government’s number one job is to protect its citizens. Our legislation would support that fundamental responsibility by taking commonsense actions to address current vulnerabilities.” – Sen. Chuck Grassley
“The Chinese Communist Party has proven over and over again they cannot be trusted. They are our adversary, not our ally. All Americans should be alarmed by the amount of American farmland China and other foreign entities own. Giving our adversaries any control over our agricultural resources is a direct threat to our national and food security. Senator Braun’s legislation will help protect America’s farms and safeguard our food supply.” — Sen. John Barrasso
“Food security is national security and that requires America’s farmland be protected from foreign adversaries, like China.I believe one acre of American farmland owned by the Chinese Communist Party is one acre too many,” said Senator Britt. “To protect Alabama and America’s farmland from being purchased by malign actors, the Secretary of Agriculture must have a seat at the table. This commonsense legislation ensures the Secretary of Agriculture is made a permanent member of CFIUS in order to weigh in on the needs of America’s agriculture industry when reviewing foreign investment and ownership.”—Sen. Katie Britt
“Nearly two-thirds of land in Indiana – and more than half of all land in the United States – is farmland. Recent efforts by China and other adversaries to buy agricultural land across the country could present a national security threat. Indiana is a leader in restricting these purchases, but Congress must act to ensure permanent safeguards are in place in all fifty states.” – Sen. Todd Young
“Food security is national security, and for too long, the federal government has allowed the Chinese Communist Party (CCP) to put our security at risk by turning a blind eye to their steadily increasing purchases of American farmland. It is not enough to just discuss this issue—we must take immediate action to stop the CCP from further encroachment. By adding the Secretary of Agriculture to CFIUS, we can ensure much-needed oversight of agricultural land purchases by foreign adversaries, which will protect American farmers and the industry as a whole. The Chinese Communist Party has long sought to undermine our institutions and very way of life, and I am proud to lead this effort to support farmers in Central Washington and across the nation.”— Rep. Dan Newhouse
The Protecting American Agriculture from Foreign Adversaries Act of 2024 would:
Permanently include the Secretary of Agriculture as a member of the Committee on Foreign Investment in the United States (CFIUS) with respect to covered transactions involving agricultural land, agricultural biotech, or the transportation, storage, and processing of agricultural products.
Authorize the Secretary of Agriculture to report both agricultural land transactions that involve foreign persons of China, North Korea, Russia, or Iran, and transactions that require AFIDA reporting to CFIUS.
This bill is sponsored by the Indiana Farm Bureau, American Farm Bureau, Indiana Soybean Alliance, Indiana Corn Growers Association, and the National Cattleman’s Beef Association.
Source: United States Senator Mike Braun (Indiana)
WASHINGTON – The National Fossil Act has now passed the Senate. This bill names the mastodon as the U.S. national fossil, and was introduced by Senator Mike Braun and Senator Gary Peters and cosponsored by Senator Eric Schmitt and Senator Maggie Hassan.
This is Senator Braun’s 5th standalone bill to pass the Senate just this year, and if signed into law will be his 10th in the 118th Congress (2023-2024) to become law, including provisions on veterans healthcare, opioids, and budget reform.
The National Fossil Act aims to celebrate the unique natural history of the United States, and encourage interest in paleontology.
If the National Fossil Act is passed by the House and signed into law, the mastodon would join the bald eagle, bison, rose, and oak tree as enduring national symbols of the United States.
The mastodon lived more than 13,000 years ago in the Pleistocene era, predominantly on land that would eventually become the United States of America. A fully grown mastodon was over 10 feet tall, weighed more than 11 tons, and was preceded by a pair of 16-foot-long tusks. Unlike its distant cousin, the mammoth, the mastodon was found exclusively in the United States, with its bones being unearthed in every state across the continental U.S.
Mastodon fossils are frequently found in Indiana and Michigan.
The mastodon was made the Indiana state fossil in 2022.
Mastodons have been found in nearly every Indiana county, including notable discoveries in Hebron, Fort Wayne, and Seymour.
“Mastodons embody the spirit of exploration, resilience, and strength that exemplifies our great nation. As a uniquely American symbol, mastodons inspire us to embrace our heritage and to protect our country’s natural treasures. I hope making Indiana’s state fossil our national fossil will inspire young Hoosiers to take an interest in our country’s rich natural history that may be in their own backyard.” – Senator Mike Braun
“Michigan made history when we uncovered one of the most complete skeletons of the Mastodon ever found, and we continue to find traces of this prehistoric giant all throughout our state,” said Senator Peters. “The Mastodon represents a unique piece of both Michigan’s and our nation’s history. By establishing the Mastodon as our national fossil, we can better preserve that history and inspire a new generation of scientists and researchers to continue their pursuit of discovery.”
The National Fossil Act:
Section 1 designates the bill as the National Fossil Act.
Section 2 establishes findings on the role of the Mastodon in American public life.
Section 3 designates the Mastodon as the national fossil under Title 36 U.S. Code, and makes necessary conforming amendments.
Senator Braun’s legislative wins this Congress:
As mentioned, this is Senator Braun’s 5th standalone bill to pass the Senate just this year, and if signed into law will be his 10th bill in the 118th Congress (2023-2024) to become law.
Some other Braun bills to become law or pass Senate in the 118th Congress (2023-2024) are:
(Became Law) The Federal Prison Oversight Act
A bill to provide independent oversight to improve conditions for staff and prisoners in federal prisons like Terre Haute.
(Became Law) COVID-19 Origins Act
A bill that required the intelligence community to declassify important information about the origins of COVID, specifically the Wuhan Institute of Virology.
(Became Law) The Wounded Warrior Access Act
A bill that streamlines the claims process for veterans with a new online tool, helping those who previously had to get their claims information through the mail or by driving to a regional VA location.
(Became Law) Department of Defense Overdose Data (DOD) Act
A bill to ensure naloxone and any other medication to reverse opioid overdose is available on all military installations and in each operational environment.
(Became Law) Reforming Benefits for Children of Vietnam Veterans with Spina Bifida
A bill to help the children of Vietnam Veterans suffering from spina bifida due to their father’s exposure to Agent Orange get access to medical benefits for the rest of their lives
(Became Law) Administrative Pay-As-You-Go Act
A bill which requires agencies to propose pay-fors to offset expensive government regulations.
(Passed Senate) VA Home Loan Awareness Act
A bill to inform veteran homebuyers of their eligibility for the VA Home Loan Program, which helps more veterans achieve the dream of homeownership.
(Passed Senate) Working Dog Health and Welfare Act of 2023
A bill to improve conditions for dogs used in the detection of explosives, narcotics and patrol duties by federal agencies, by instituting programs that detect abuse and neglect and ensure emergency medical care, food and water, and rest time.
(Passed Senate) Mark Our Place Act
A bill to provide special headstones upon family request for all veterans who have received the Medal of Honor.
If signed into law, the National Fossil Act will join the following Braun bills signed into law:
BILLS SIGNED INTO LAW IN THE 118TH CONGRESS (2023-2024).
Federal Prison Oversight Act
The COVID-19 Origins Act (Public Law 118-2)
The Administrative Pay-As-You-Go Act (included in Public Law 118-5)
Reforming Benefits for Children of Vietnam Veterans with Spina Bifida (Public Law 118-8)
The Wounded Warrior Access Act (Public Law 118-21)
The Korean American VALOR Act (Public Law 118-20)
The Department of Defense Overdose Data (DOD) Act (Public Law 118-31)
Supporting the Provision of Veteran Survivor Benefit Plans (Public Law 118-31)
Flexibility and Funding for the World Trade Center Health Program (Public Law 118-31)
BILLS SIGNED INTO LAW IN THE 117TH CONGRESS (2021 – 2022):
Hire Veteran Health Heroes Act of 2021 (Public Law 117-67)
A bill to properly implement the ALS Disability Insurance Access Act (Public Law 117-3)
The Consider Teachers Act (Public Law No: 117-49)
The Growing Climate Solutions Act (Public Law 117-328)
The STREAM Act (Public Law 117-328)
Small Business Establishment Registration Waiver Act (Public Law 117-328)
The Make It in America Act (Public Law 117-58)
The DUMP Opioids Act (Public Law 117-29
Better ODDS to Reduce Diversion Act of 2021 (Public Law 117-328)
FREED of Opioids Act (Public Law 117-328)
The Access for Veterans to Records Act (Public Law 117-328)
Women Who Worked on the Home Front World War II Memorial Act (Public Law 117-328)
Apply the Science Act (Public Law 117-328)
The Emergency Use Transparency Act (Public Law 117-328)
The Recovery Startup Assistance Act (Public Law 117-328)
Promoting Access to Critical Countermeasures by Ensuring Specimen Samples (ACCESS) to Diagnostics Act (Public Law 117-328)
Predetermined Change Control Plan Act (Public Law 117-328)
Protecting Patients from Counterfeit Medical Devices Act (Public Law 117-328)
The PLUM Act (Public Law 117-328)
BILLS SIGNED INTO LAW IN THE 116TH CONGRESS (2019 – 2020):
The Safeguarding Small Business Act
Healthcare Transparency
the Whistleblower Act of 2019
the VA Directly Returning Opioid Prescriptions Act
the Stop Student Debt Relief Scams Act of 2019
Restore Harmony Way Bridge Act
Richard Lugar Post Office Act
Payment Integrity Information Act
ALS Disability Insurance Access Act
OTC Reform
The Fair Care Act
Braun Provisions in the WRDA Reauthorization in the OMNI
Source: The Conversation – USA – By Andrew J. Hoffman, Professor of Management & Organizations, Environment & Sustainability, and Sustainable Enterprise, University of Michigan
The U.S. has seen a large number of billion-dollar disasters in recent years.AP Photo/Mark Zaleski
Millions of Americans have been watching with growing alarm as their homeowners insurance premiums rise and their coverage shrinks. Nationwide, premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country.
There are a few reasons, but a common thread: Climate change is fueling more severe weather, and insurers are responding to rising damage claims. The losses are exacerbated by more frequent extreme weather disasters striking densely populated areas, rising construction costs and homeowners experiencing damage that was once more rare.
Hurricane Ian, supercharged by warm water in the Gulf of Mexico, hit Florida as a Category 4 hurricane in October 2022 and caused an estimated $112.9 billion in damage. Ricardo Arduengo/AFP via Getty Images
Just a decade ago, few insurance companies had a comprehensive strategy for addressing climate risk as a core business issue. Today, insurance companies have no choice but to factor climate change into their policy models.
Rising damage costs, higher premiums
There’s a saying that to get someone to pay attention to climate change, put a price on it. Rising insurance costs are doing just that.
Increasing global temperatures lead to more extreme weather, and that means insurance companies have had to make higher payouts. In turn, they have been raising their prices and changing their coverage in order to remain solvent. That raises the costs for homeowners and for everyone else.
The importance of insurance to the economy cannot be understated. You generally cannot get a mortgage or even drive a car, build an office building or enter into contracts without insurance to protect against the inherent risks. Because insurance is so tightly woven into economies, state agencies review insurance companies’ proposals to increase premiums or reduce coverage.
The insurance companies are not making political statements with the increases. They are looking at the numbers, calculating risk and pricing it accordingly. And the numbers are concerning.
The arithmetic of climate risk
Insurance companies use data from past disasters and complex models to calculate expected future payouts. Then they price their policies to cover those expected costs. In doing so, they have to balance three concerns: keeping rates low enough to remain competitive, setting rates high enough to cover payouts and not running afoul of insurance regulators.
But climate change is disrupting those risk models. As global temperatures rise, driven by greenhouse gases from fossil fuel use and other human activities, past is no longer prologue: What happened over the past 10 to 20 years is less predictive of what will happen in the next 10 to 20 years.
The number of billion-dollar disasters in the U.S. each year offers a clear example. The average rose from 3.3 per year in the 1980s to 18.3 per year in the 10-year period ending in 2024, with all years adjusted for inflation.
With that more than fivefold increase in billion-dollar disasters came rising insurance costs in the Southeast because of hurricanes and extreme rainfall, in the West because of wildfires, and in the Midwest because of wind, hail and flood damage.
Hurricanes tend to be the most damaging single events. They caused more than US$692 billion in property damage in the U.S. between 2014 and 2023. But severe hail and windstorms, including tornadoes, are also costly; together, those on the billion-dollar disaster list did more than $246 billion in property damage over the same period.
As insurance companies adjust to the uncertainty, they may run a loss in one segment, such as homeowners insurance, but recoup their losses in other segments, such as auto or commercial insurance. But that cannot be sustained over the long term, and companies can be caught by unexpected events. California’s unprecedented wildfires in 2017 and 2018 wiped out nearly 25 years’ worth of profits for insurance companies in that state.
To balance their risk, insurance companies often turn to reinsurance companies; in effect, insurance companies that insure insurance companies. But reinsurers have also been raising their prices to cover their costs. Property reinsurance alone increased by 35% in 2023. Insurers are passing those costs to their policyholders.
What this means for your homeowners policy
Not only are homeowners insurance premiums going up, coverage is shrinking. In some cases, insurers are reducing or dropping coverage for items such as metal trim, doors and roof repair, increasing deductibles for risks such as hail and fire damage, or refusing to pay full replacement costs for things such as older roofs.
Some insurances companies are simply withdrawing from markets altogether, canceling existing policies or refusing to write new ones when risks become too uncertain or regulators do not approve their rate increases to cover costs. In recent years, State Farm and Allstate pulled back from California’s homeowner market, and Farmers, Progressive and AAA pulled back from the Florida market, which is seeing some of the highest insurance rates in the country.
In some cases, insurers are restricting coverage. Roof repairs, like these in Fort Myers Beach, Fla., after Hurricane Ian, can be expensive and widespread after windstorms. Joe Raedle/Getty Images
State-run “insurers of last resort,” which can provide coverage for people who can’t get coverage from private companies, are struggling too. Taxpayers in states such as California and Florida have been forced to bail out their state insurers. And the National Flood Insurance Program has raised its premiums, leading 10 states to sue to stop them.
According to NOAA data, 2023 was the hottest year on record “by far.” And 2024 could be even hotter. This general warming trend and the rise in extreme weather is expected to continue until greenhouse gas concentrations in the atmosphere are abated.
In the face of such worrying analyses, U.S. homeowners insurance will continue to get more expensive and cover less. And yet, Jacques de Vaucleroy, chairman of the board of reinsurance giant Swiss Re, believes U.S. insurance is still priced too low to fully cover the risk from climate change.
Climate change is a major factor in the rising cost of insurance. Join us for a special free webinar with experts Andrew Hoffman of the University of Michigan and Melanie Gall of Arizona State University to discuss the arithmetic behind these rising rates, what climate change has to do with it, and what may be coming in your future insurance bills.
Andrew J. Hoffman does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
The IMF Board approved an SDR155 million (about US$210 million) ECF arrangement for Liberia. This decision will enable an immediate disbursement of SDR4.3 million (about US$5.8 million).
The 40-month financing package will support the authorities’ Economic Reform Agenda (ARREST) to address macroeconomic imbalances, strengthen debt sustainability, and lay the foundations for higher, more inclusive, and private sector-led growth, beyond the enclave sector.
The ECF arrangement is expected to catalyze additional external financing from international financial institutions (IFIs) and development partners.
Washington, DC: The Executive Board of the International Monetary Fund (IMF) has approved a 40-month arrangement under the Extended Credit Facility (ECF) for Liberia, amounting to SDR155 million (60 percent of the quota, or approximately US$210 million). This support aims to assist the authorities in their reform efforts to address macroeconomic imbalances and establish a foundation for increased private-sector-led growth beyond the natural resource sector. With the Executive Board’s approval of the arrangement, an immediate disbursement of SDR4.3 million (about US$5.8 million) will be made, helping Liberia meet its ongoing balance of payments needs, primarily due to significant and widening development gaps.
The authorities’ economic program, supported by the 40-month ECF arrangement, envisages a comprehensive policy package to strengthen fiscal sustainability and create fiscal space for investment. This will begin with rationalizing unproductive spending, followed by efforts to mobilize domestic revenue. This policy package is intended to help mitigate debt vulnerability and foster more robust and sustainable growth. Key policies outlined in the program include: (i) reducing unproductive spending, (ii) implementing new tax measures, including a Value Added Tax (VAT), and streamlining extensive tax expenditures, (iii) increasing priority public spending, particularly on basic infrastructure, and (iv) enhancing financial stability by addressing the issue of non-performing loans. A critical goal of the authorities’ reform program is to preserve and enhance social spending, especially in the education and health sectors.
Following the Executive Board discussion, Mr. Bo Li, Deputy Managing Director, and Acting Chair, made the following statement:
“Liberia’s economic vulnerability has worsened in recent years. Fiscal slippages have compromised public debt sustainability, contributing to a sharp decline in international reserves. Governance weaknesses have also persisted. To address these challenges, the new authorities that took office in early 2024 have requested a 40-month arrangement under the Extended Credit Facility to support a broad-based reform agenda.
“The Liberian authorities are appropriately prioritizing restoring fiscal credibility. They are focusing on reducing unproductive spending and shifting resources toward public investment while protecting social spending. Over the program period, the authorities should continue to strengthen fiscal discipline and improve domestic revenue mobilization, including through the introduction of the VAT and the reduction of generous tax incentives.
“It will also be important to significantly improve the authorities’ debt management capacity. It is crucial to continue to seek concessional loans and grants to create fiscal space for critical infrastructure development.
“Given the significant challenges in the financial sector, it is imperative that the new Banking and Financial Institutions Act be adopted expeditiously to provide for modern bank supervisory and resolution frameworks. Other vital reforms also need to be put in place to strengthen the banking sector.
“Building on recent progress, the Central Bank of Liberia (CBL) needs to continue to improve its governance to bolster its independence and credibility. It is also important to strengthen the monetary policy framework.
“The authorities are firmly committed to revitalizing the reform agenda to support macroeconomic stability, promote broad-based economic development, and reduce widespread poverty. Comprehensive structural reforms, including improvements in governance and transparency, are critical for achieving these objectives. Maintaining strong program ownership, supported by capacity development, will be crucial to ensure program success and continued donor support.”
Source: United States House of Representatives – Congressman John Moolenaar (4th District of Michigan)
Headline: CHAT WITH CHUCK: New Text Messages Show, Once Again, That Gotion is Wrong for Michigan
This week, text messages released in court documents revealed that Gotion Senior Vice President of North American Operations personally sought private information on one of the company’s leading critics and disparaged the critic using misogynistic language. In other text messages, the same executive attacked his company’s CEO as an “idiot.”
“This is a David vs. Goliath fight and these new documents show how giant Gotion will stop at nothing to personally attack brave people in the community who raise serious concerns about the company’s ties to the Chinese Communist Party and its plans for the Big Rapids area. Is this really the kind of company the MEDC wants to give millions of dollars to? When will state leaders cut off funding for this company and its attacks on Michigan residents?” said Congressman John Moolenaar.
Source: United States House of Representatives – Congressman Mike Lawler (R, NY-17)
Today, Representative Mike Lawler (R-NY-17) introduced the Kidney Donation Anti-Discrimination Act, which will prevent life insurance companies from being able to discriminate in the offering, issuance, cancellation, price or conditions of a life insurance policy, or in the amount of coverage provided under a life insurance policy, based solely on the status of an individual as a living kidney donor. The legislation is co-sponsored by Representatives Don Davis (D-NC-01) and Jeff Van Drew (R-NJ-02). It is also endorsed by the National Kidney Registry (NKR).
“Someone who donates a kidney is giving someone the gift of life,” said Congressman Lawler. “No good deed should go punished, especially not one that saves a life. Studies show that donating a kidney does not impact life expectancy. It shouldn’t have an impact on someone’s life insurance, either, and my new bill will ensure that it doesn’t. I’m proud to introduce the Kidney Donation Anti-Discrimination Act and I look forward to working with my colleagues in both parties to get this important bill passed and signed into law.”
“Kidney donors are already doing one of the most selfless things an individual can do, and punishing them for their actions makes no sense,” said Congressman Van Drew. “It is a no-brainer that we protect these donors and ensure they face no unnecessary hardship, especially when it comes to life insurance, where they should be supported, not penalized, for their generosity.”
“We must never punish living organ donors who are making a selfless sacrifice for others,” said Congressman Don Davis. “Eastern North Carolinians are suffering from significant health disparities, and the last thing we should do is discourage good Samaritans.”
“With approximately 90,000 people on the kidney transplant waitlist, every barrier to donation costs lives,” said Garet Hil, National Kidney Registry (NKR) CEO and Founder. “The NKR is grateful for the leadership of our congressional champions on the Kidney Donation Anti-Discrimination Act and is excited to endorse this critical bill to ensure donors are not penalized for their selflessness and courage.”
Congressman Lawler is one of the most bipartisan members of the 118th Congress and represents New York’s 17th Congressional District, which is just north of New York City and contains all or parts of Rockland, Putnam, Dutchess, and Westchester Counties.
TALLAHASSEE, Fla., Sept. 25, 2024 (GLOBE NEWSWIRE) — Capital City Bank today announced the promotion of Matthew Henderson to chief information security officer, effective October 1, 2024. He will succeed LeAnne Staalenburg McCorvey, who will retire on December 31, 2024. In this role, Henderson will lead the Corporate Security & Risk Department, overseeing both the information and physical security teams. His responsibilities include developing, overseeing, monitoring, managing and reporting on the security program in accordance with policy.
Henderson began his career with Capital City Bank in September 2022 as an information security officer. In this role, he focused on information security, physical security, vendor management, business continuity and incident response initiatives.
He holds a Bachelor of Science and Master of Science in Management Information Systems from Troy University and the University of Alabama at Birmingham, respectively. His credentials include certifications as a Certified Information Systems Security Professional, Certified Information Security Manager, Certified in Risk and Information Systems Control and Certified Information Systems Auditor.
With over 15 years of experience in information technology, cybersecurity, information security and physical security across various industries, Henderson brings a wealth of knowledge to his new position. He also serves on several advisory boards and committees within the financial sector, including the American Bankers Association’s Cybersecurity and Operational Resilience Advisory Committee, the Risk and Compliance Conference Board and the Cyber Risk Institute’s Joint Standards Committee.
“Matt’s extensive experience and proven expertise make him an ideal choice to lead our Corporate Security & Risk Department,” said Bill Smith, Capital City Bank Group chairman, president and CEO. “I am confident that under his leadership we will continue to uphold the highest standards of security and risk management.”
Beyond his professional roles, Henderson is actively engaged in the community. He is a member of Celebration Baptist Church, Shriners International and the Tallahassee Tennis Association. Additionally, he volunteers with Big Brothers Big Sisters of the Big Bend.
In his spare time, Henderson enjoys spending time with his wife, Brittony, and their two children.
About Capital City Bank Group, Inc. Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.2 billion in assets. We provide a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services and financial advisory services, including the sale of life insurance, risk management and asset protection services. Our bank subsidiary, Capital City Bank, was founded in 1895 and now has 63 banking offices and 105 ATMs/ITMs in Florida, Georgia, and Alabama. For more information about Capital City Bank Group, Inc., visit http://www.ccbg.com.
Source: United Kingdom – Prime Minister’s Office 10 Downing Street
A major £10 billion investment which will create thousands of jobs in the North East of England has been announced by the Prime Minister in New York today.
Major U.S. company Blackstone has confirmed a £10 billion investment in the North East of England to create one of the largest artificial intelligence data centres in Europe
Move will create 4,000 jobs for British people and benefit the local community in Blyth
Prime Minister continues his international drive to boost the UK’s reputation on the global stage, unlock new opportunities to drive growth at home and improve the lives of British people
A major £10 billion investment which will create thousands of jobs in the North East of England has been announced by the Prime Minister in New York today.
The deal with US investment company Blackstone, facilitated by the Office for Investment, will create the biggest AI data centre in Europe, boosting the UK’s world leading capabilities in the AI sector and driving growth in the local community.
Over 4,000 jobs will be created as a result, including 1,200 roles dedicated to the construction of the site in Blyth, Northumberland. Construction on the site is expected to begin next year, with the data centres set to store the vast amount of data needed to power AI, and to store the information generated by AI systems.
The Prime Minister’s number one mission for government is economic growth, and foreign investment will be a key part of driving it – by creating jobs which will put money into the pockets of hard-working British people.
The local community in Blyth – which suffered as a result of the failure of BritishVolt – will also directly benefit from the investment, with Blackstone confirming it will invest £110 million into a fund – supporting further skills training and transport infrastructure in the area.
The UK is already home to the highest number of data centres in Western Europe and just last month, the government classed data centres as ‘Critical National Infrastructure’ in the first designation in almost a decade to provide greater reassurance to businesses that the UK is a secure place to invest in and develop data centres.
Prime Minister Keir Starmer said:
The number one mission of my government is to grow our economy, so that hard-working British people reap the benefits – and more foreign investment is a crucial part of that plan.
New investment such as the one we’ve announced with Blackstone today is a huge vote of confidence in the UK and it proves that Britain is back as a major player on the global stage and we’re open for business.
Jon Gray, President and Chief Operating Officer of Blackstone, said:
The UK is a top investment market for Blackstone because of its powerful combination of talent and innovation along with a highly transparent legal system. We are making significant commitments to building social housing, facilitating the energy transition, growing life sciences companies and developing critical infrastructure needed to fuel the digital economy. This includes a projected £10 billion investment to build one of Europe’s largest hyperscale data centres supporting 4,000 jobs. Blackstone is committed to Britain.
The Prime Minister will meet Blackstone President Jon Gray in New York this morning, as he seeks to rebuild Britain’s reputation as an investment destination in order to drive growth and create opportunities for British people.
This comes ahead of the UK’s International Investment Summit in October, which is set to bring together hundreds of leading CEOs and investors set to attend representing the best of business across the globe, with an ambitious programme to showcase the UK’s economic strengths.
The summit will rebuild Britain’s reputation as an investment destination to drive growth and create opportunities for British people and cement the government’s enduring partnership with businesses to give them the certainty they need to invest and grow in the UK.
Today’s investment also bolsters the UK’s bilateral trading relationship with the US which is already worth over £340 billion – making the US our largest single trading partner.
Every day, 1.2 million Americans go to work for UK-owned businesses and 1.3 million Brits work for US owned companies. Just last year the UK and US together invested over $1.2 trillion in each other’s economies, across key sectors like financial services, green infrastructure, real estate and technology.
SAN JOSE, Calif., Sept. 25, 2024 (GLOBE NEWSWIRE) — Infinera Corporation (NASDAQ: INFN) (“Infinera”) today reminded Infinera stockholders of the upcoming deadline to elect the form of merger consideration that they wish to receive in the pending acquisition of Infinera by Nokia Corporation (“Nokia”) (the “Transaction”). This deadline is 5:00 p.m. New York City time on September 30, 2024 (the “Election Deadline”), which is the business day immediately prior to the special meeting of Infinera stockholders to be held in connection with the Transaction. No elections will be permitted after the Election Deadline.
Infinera stockholders of record wishing to make an election as to the form of consideration they wish to receive must deliver a properly completed and executed election form, together with all required documents and materials, to Computershare Trust Company, N.A. (the “Exchange Agent”) by the Election Deadline. An election will be valid only if a properly completed and signed election form, together with all required documents and materials set forth in the Election Form and the instructions thereto, is received by the Exchange Agent by the Election Deadline.
Infinera stockholders who hold shares through a bank, broker or other nominee will receive the election form through their bank, broker, or other nominee. Infinera stockholders who hold shares through a bank, broker or other nominee may be subject to an earlier election deadline and must carefully review and properly complete any election materials that they receive from their bank, broker or other nominee regarding how to make an election.
Infinera stockholders who, with respect to some or all of their shares of Infinera common stock, do not deliver a properly completed and executed election form, together with all required documents and materials, to the Exchange Agent by the Election Deadline (or, if applicable, to their bank, broker or other nominee by the deadline set by such bank, broker or other nominee) will be deemed to have elected to have those shares converted into the right to receive $6.65 per share in cash, without interest.
Infinera stockholders who do not make a valid election by the Election Deadline may still vote their shares at the special meeting of Infinera stockholders to be held in connection with the Transaction, which will be held 10 a.m., Pacific Time, on October 1, 2024, as long they owned those shares as of the close of business on August 14, 2024.
The aggregate merger consideration payable by Nokia is subject to proration as described in the Proxy Statement/Prospectus and the Election Form publicly filed by Infinera and Nokia in connection with the Transaction. Infinera and Nokia intend only to announce the results of stockholder elections and required proration, if any, in connection with the closing of the Transaction.
Infinera stockholders who have made an electionwith respect to some or all of their shares of Infinera common stock may still sell or transfer those shares, whether before or after the Election Deadline. To do so, they will need to revoke their election prior to and in connection with selling or transferring those shares. If no subsequent election is properly made in respect of those shares prior to the Election Deadline, or if the revocation occurs after the Election Deadline, the holder will be deemed to have elected to have those shares converted into the right to receive $6.65 per share in cash, without interest. No election may be revoked after the Election Deadline, except in connection with the sale or transfer of the applicable shares. Infinera stockholders who wish to revoke an election in respect of their shares of Infinera common stock after the Election Deadline in connection with a sale or transfer of those shares must revoke such election at least five business days prior to the closing of the Transaction for the revocation to be effective. Infinera stockholders who hold shares through a bank, broker or other nominee will need to contact their bank, broker or other nominee to process their revocation.
Infinera stockholders of record that wish to request an Election Form and accompanying materials (including election revocation materials) should contact Sodali & Co at (800) 662-5200 (for registered holders of Infinera Common Stock) or (203) 658-9400 (for banks and brokers) or by email at INFN@investor.sodali.com. Infinera stockholders who hold shares through a bank, broker or other nominee should contact their bank, broker or other nominee for assistance making or revoking an election.
Infinera stockholders should carefully read the Proxy Statement/Prospectus, the Election Form and all election materials provided to them or filed by Infinera and Nokia in connection with the Transaction before making their elections. The Election Deadline does not alter the deadline for Infinera stockholders to vote on the proposals to be presented for approval at Infinera’s upcoming special meeting of stockholders.
About Infinera
Infinera is a global supplier of innovative open optical networking solutions and advanced optical semiconductors that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. Infinera solutions deliver industry-leading economics and performance in long-haul, submarine, data center interconnect, and metro transport applications. To learn more about Infinera, visit http://www.infinera.com, follow us on X and LinkedIn, and subscribe for updates.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Transaction and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, and there will not be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933.
Certain statements contained in this communication may be characterized as forward-looking under the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially.
Statements in this communication that are forward-looking may include statements regarding the Transaction and the timing and mechanics of the closing of the Transaction.
Risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, in addition to those identified above, include: (1) the possibility that the conditions to the closing of the Transaction are not satisfied, including the risk that required approvals from Infinera’s stockholders for the Transaction or required regulatory approvals to consummate the Transaction are not obtained, on a timely basis or at all; (2) the occurrence of any event, change or other circumstance that could give rise to a right to terminate the Merger Agreement; (3) possible disruption related to the Transaction to the current plans, operations and business relationships of Nokia and Infinera, including through the loss of customers and employees; (4) the amount of the costs, fees, expenses and other charges incurred by Nokia and Infinera related to the Transaction; (5) the possibility that the stock prices of Nokia or Infinera could fluctuate during the pendency of the Transaction and may decline if the Transaction is not completed; (6) for both Nokia and Infinera, the possible diversion of management’s time and attention from ongoing business operations and opportunities; (7) the response of competitors and other market participants to the Transaction; (8) potential litigation relating to the Transaction; (9) uncertainty as to the timing of completion of the Transaction and the ability of each party to consummate the Transaction; and (10) the other risks and uncertainties detailed in the periodic reports that Nokia and Infinera file with the SEC. All forward-looking statements in this communication are based on information available to Infinera as of the date of this communication, and, except as required by law, Infinera does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.