Category: Economy

MIL-OSI Australia: Supporting Papua New Guinea’s maritime infrastructure growth

Source: Australian Government – Minister of Foreign Affairs

The Albanese Government is supporting a $95 million upgrade of Papua New Guinea’s Kimbe Port to improve freight services and resilience to climate change, while fostering economic growth and creating local jobs.

The upgrade is financed by the Australian Infrastructure Financing Facility for the Pacific (AIFFP), and will involve the demolition and reconstruction of wharf structures and the rehabilitation of existing facilities.

This project forms part of the broader AIFFP-funded PNG Ports Infrastructure Investment Program, which aims to strengthen connectivity and supply chain efficiency across Papua New Guinea.

The program, developed in partnership with the PNG Government, will also upgrade Oro Bay, Daru, Lae and Kavieng facilities.

Pacific Marine Group Pty Ltd has been awarded the contract by PNG Ports Corporation Ltd for Kimbe Port Marine improvement works.

The Kimbe Port upgrade is supporting local jobs via local construction companies and supply chains, with a minimum target of 30 percent expenditure on local content.

The works are scheduled to begin in early 2025 and conclude in 2026.

More information can be found on the AIFFP project page.

Quotes attributable to Minister for Foreign Affairs Penny Wong:

“Since the Albanese Government was elected, we have made the Pacific, including our relationship with Papua New Guinea, a priority.

“Through this project, and the broader Ports Program, we are responding to PNG priorities, and helping our neighbour become more economically resilient and secure.

“Australia is a trusted partner for major infrastructure projects in the Pacific, with transparent investment to support high quality construction and utilising local labour to create jobs and support the local economy.”

Quotes attributable to Minister for International Development and the Pacific Pat Conroy:

“The Albanese Government has been working hard with Pacific nations to shape a peaceful, stable and prosperous Indo-Pacific.”

“With more than 90 per cent of internationally traded goods in Papua New Guinea transported by sea, maritime infrastructure is critical.”

“Pacific countries look to us first to support their development and economic needs. Australia is proud to support the re-development of Kimbe Port, particularly as PNG marks the historic milestone of 50 years of independence.”

MIL OSI News –

February 15, 2025
MIL-OSI Asia-Pac: LOK SABHA SPEAKER EMPHASIZES THE IMPORTANCE OF QUALITY LEGISLATIVE DRAFTING AND THE IMPORTANCE OF INPUTS FROM ELECTED REPRESENTATIVES IN LEGISLATIVE PROCESSES

Source: Government of India (2)

LOK SABHA SPEAKER EMPHASIZES THE IMPORTANCE OF QUALITY LEGISLATIVE DRAFTING AND THE IMPORTANCE OF INPUTS FROM ELECTED REPRESENTATIVES IN LEGISLATIVE PROCESSES

LOK SABHA SPEAKER PITCHES FOR FINANCIAL AUTONOMY OF LEGISLATURES, CALLS FOR WIDER CONSULTATIONS

LOK SABHA SPEAKER URGES ELECTED REPRESENTATIVES TO DESIST FROM PLANNED DISRUPTIONS, RAISE ISSUES IN THE HOUSE WITHIN AMBIT OF RULES, PROCEDURES AND CONVENTIONS

LOK SABHA SPEAKER COUNSELS FIRST TIME ELECTED LEGISLATORS OF HARYANA LEGISLATIVE ASSEMBLY TO STUDY RULES AND PROCEDURES OF THE HOUSE THOROUGHLY SO THAT THEY COULD RAISE PEOPLES’ ISSUES EFFECTIVELY

BEST LEGISLATOR IS THE ONE WHO ENGAGES IN MEANINGFUL DISCUSSIONS IN THE HOUSE; DISCUSSES ISSUES ON THE BASIS OF EXTENSIVE STUDY, USES TECHNOLOGY AND INNOVATION: LOK SABHA SPEAKER

LOK SABHA SPEAKER INAUGURATES TWO DAY ORIENTATION PROGRAMME FOR NEWLY ELECTED MEMBERS OF HARYANA LEGISLATIVE ASSEMBLY

Posted On: 14 FEB 2025 6:17PM by PIB Delhi

14th February, 2025: Lok Sabha Speaker Shri Om Birla has emphasized the importance of quality legislative drafting and the importance of inputs from elected representatives in legislative processes. Calling for wider consultations in the legislative drafting process, Shri Birla highlighted that lack of adequate inputs at the stage of drafting of legislations has its impacts on both the functioning of the government and legislative scrutiny by lawmakers. Delivering the inaugural address at a two-day Orientation programme for newly elected members of Haryana Vidhan Sabha, he said that newly elected lawmakers should be suitably engaged at this early stage to ensure that the perspectives and concerns of the people they represent are adequately reflected in the proposed legislations. By fostering a collaborative approach between lawmakers and originating ministry, the quality and effectiveness of legislation can be enhanced, making it more relevant and beneficial to the public, Shri Birla said. Shri Birla stressed that knowledge of legislative drafting is very important for effective law making; therefore, public representatives should undergo regular capacity building measures in legislative drafting. Recalling the earlier discussions at several legislative fora, he also suggested for expediting the digitization of debates of State legislatures so that the elected members can access them easily and utilize those valuable records for strengthening skills as law makers. Chief Minister, Haryana, Shri Nayab Singh Saini; Speaker, Haryana Legislative Assembly, Shri Harvinder Kalyan; Presiding Officers of Uttar Pradesh and Punjab, Ministers in the Government of Haryana and Members of Haryana Legislative Assembly graced the event which was organised in the State Legislative Assembly premises, Chandigarh. Addressing the concerns of State Legislatures for financial autonomy, Shri Birla opined that financial autonomy will boost efficiency of State legislature and at the same time he called for wider consultations among stakeholders on this issue. Stressing on fruitful debates and discussions in the House, Shri Birla urged the Assembly Members to connect with the people they represent, understand their concerns and raise them in the House. Assembly is the appropriate platform for the Members to become leaders of the State, he noted. Further noting that Members should raise the issues in the House within the ambit of the rules, Shri Birla counseled the first time elected legislators of Haryana Vidhan Sabha to study the rules and procedures thoroughly so that they could raise peoples’ issues effectively. He urged the Members to desist from planned disruptions of House proceedings. The more effective the legislatures will be in reviewing policies and programmes of the Government, the more transparent will be the governance and the more accountable will be the Executive, he further added. Noting that the present age is the age of technology and innovations, the Speaker called for use of technologies by law makers to make their participation more effective and fruitful. The best legislator is the one who engages in meaningful discussions in the Assembly; discusses issues on the basis of extensive study, and uses technology in the age innovation, said Shri Birla. He encouraged newly elected MLAs to aspire for becoming best MLAs and to realize the aspirations of the people by making full use of the processes of the House through effective discussion and dialogue. Speaking on the contributions of Haryana and Haryana Legislative Assembly, Shri Birla noted that Haryana has contributed significantly to the economic and social empowerment of the country. Noting the glorious history of Haryana Vidhan Sabha, he appreciated the functioning of Haryana Legislative Assembly as an effective forum of ensuring accountability of the Executive and fulfilling hopes and aspirations of the people of the State. On this occasion, Shri Birla led the Members of the Haryana Legislative Assembly in reading Preamble to the Constitution of India. Speaker, Haryana Legislative Assembly, Shri Harvinder Kalyan delivered Welcome Address. Chief Minister, Haryana, Shri Nayab Singh Saini addressed the distinguished gathering on this occasion. Speaker, Uttar Pradesh Legislative Assembly, Shri Satish Mahana also spoke on this occasion. Dr. Krishan Lal Middha, Deputy Speaker, Haryana Vidhan Sabha delivered the Vote of Thanks. Shri Birla was warmly welcomed by Chief Minister, Haryana, Shri Nayab Singh Saini; Speaker, Haryana Legislative Assembly, Shri Harvinder Kalyan and other dignitaries at Haryana Legislative Assembly. Shri Birla was also given Guard of Honour on his arrival at the Legislative Assembly premises.

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AM

(Release ID: 2103310) Visitor Counter : 25

MIL OSI Asia Pacific News –

February 15, 2025
MIL-OSI Asia-Pac: HKETO Berlin celebrates Year of Snake (with photos)

Source: Hong Kong Government special administrative region

HKETO Berlin celebrates Year of Snake (with photos)
HKETO Berlin celebrates Year of Snake (with photos)
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The Hong Kong Economic and Trade Office, Berlin (HKETO Berlin) held a Chinese New Year reception in Berlin, Germany, on February 13 (Berlin time) to celebrate the Year of the Snake. About 160 guests including government officials, senior diplomats and leading figures of the political, business and cultural sectors of Germany attended the reception. In her welcome remarks, the Director of HKETO Berlin, Ms Jenny Szeto, briefed the guests on Hong Kong’s encouraging achievements during the past year. “Despite the challenges of a global economic slowdown, Hong Kong’s economy grew by 2.5 per cent in 2024, and we rose again to third place in the Global Financial Centres Index, setting the stage for a strong start to the year.” Ms Szeto also highlighted various initiatives that consolidate and enhance Hong Kong’s status as an international centre in the eight key areas. She added that with the implementation of further liberalisation measures under the amended Mainland and Hong Kong Closer Economic Partnership Arrangement, Hong Kong’s unique advantages as a gateway to Mainland China, would be further enhanced. Complemented by other facilitating initiatives such as multiple-entry visas for foreign staff of Hong Kong-registered companies, the investment, trade and people-to-people ties between Hong Kong and the Central and Eastern European countries will continue to be strengthened. HKETO Berlin also hosted a reception in Bratislava, the Slovak Republic on February 12 (Bratislava time) in co-operation with the Hong Kong Trade Development Council and the Slovak Chamber of Commerce and Industry. Six other receptions will be organised in Austria, Czechia, Hungary, Poland, Slovenia and Switzerland. To promote the excellent work of Hong Kong artists abroad, HKETO Berlin has invited Hong Kong artists including Hong Kong dance group R&T (Rhythm & Tempo) and the Hong Kong Arts Centre (Comix Home Base), to perform at the receptions and showcase the vibrancy, diversity and creativity of Hong Kong’s East-meets-West culture.About HKETO Berlin HKETO Berlin is the official representative of the Hong Kong Special Administrative Region Government in commercial relations and other economic and trade matters in Germany as well as Austria, Czechia, Hungary, Poland, the Slovak Republic, Slovenia and Switzerland.

Ends/Friday, February 14, 2025Issued at HKT 20:45

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MIL OSI Asia Pacific News –

February 15, 2025
MIL-OSI Asia-Pac: BSNL Achieves ₹262 Crore Profit in Q3 – First Profit Since 2007

Source: Government of India (2)

Posted On: 14 FEB 2025 6:01PM by PIB Delhi

Bharat Sanchar Nigam Limited (BSNL) has reported a profit of ₹262 crore in the third quarter of the financial year, marking its first return to profitability since 2007. This milestone reflects the company’s focus on innovation, aggressive network expansion, cost optimization, and customer-centric service improvements.

Announcing the quarterly financial results, Shri A. Robert J. Ravi, CMD, BSNL, said:

“We are pleased with our financial performance this quarter, which reflects our focus on innovation, customer satisfaction, and aggressive network expansion. With these efforts, we expect revenue growth to improve further, exceeding 20% by the end of the financial year. Revenue from Mobility, FTTH, and Leased Lines has increased by 15%, 18%, and 14% respectively over Q3 of the previous year. Additionally, BSNL has successfully reduced its finance cost and overall expenditure, leading to a decline in losses by over ₹1,800 crore compared to last year.

To enhance our customer experience, we have introduced new innovations such as National WiFi Roaming, BiTV – Free Entertainment for All Mobile Customers, and IFTV for All FTTH Customers. Our continuous focus on Quality of Service and Service Assurance has further strengthened customer trust and reinforced BSNL’s position as a leading telecom service provider in India.”

This ₹262 crore profit underscores BSNL’s resurgence and long-term sustainability. As we continue on this growth trajectory, we remain committed to delivering higher value to our shareholders, expanding market opportunities, and driving innovation.

Key Highlights of BSNL’s Financial Performance & Growth Strategy:

Strong Revenue Growth:

            •           Mobility services revenue grew by 15%.

            •           Fiber-to-the-Home (FTTH) revenue increased by 18%.

            •           Leased Line services revenue rose by 14% over Q3 of the previous year.

Aggressive Network Expansion:

            •           Accelerated 4G rollout and fiber-optic infrastructure upgrades.

            •           Strengthened connectivity across urban and rural areas.

Customer-Centric Digital Innovations:

            •           National WiFi Roaming for seamless internet access across networks.

            •           BiTV – Free Entertainment for Mobile Customers, offering high-quality digital content.

            •           IFTV – Exclusive Entertainment for FTTH Customers, enhancing digital engagement.

Operational & Cost Optimization Measures:

            •           Significant reduction in finance costs and overall expenditure, resulting in a decline in losses by over ₹1,800 crore compared to last year.

            •           Process automation and strategic resource management for improved efficiency.

Government Support: Strategic revival initiatives, spectrum allocation, and capital infusion have bolstered our operations.

Future Growth Outlook:

            •           Continued focus on service excellence, 5G preparedness, and digital transformation.

            •           Revenue growth expected to exceed 20% by the end of the financial year.

This financial turnaround underscores BSNL’s commitment to providing high-quality, affordable telecom services while driving India’s digital growth. The company remains dedicated to enhancing service delivery, expanding its customer base, and contributing to the Digital India and Atmanirbhar Bharat vision.

We thank our customers, stakeholders, and the Government of India for their unwavering support in BSNL’s transformation journey. We look forward to sustained growth and stronger financial performance in the coming quarters.

For further details, please contact:

Bharat Sanchar Nigam Limited

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Samrat/Dheeraj/Allen: pibcomm[at]gmail[dot]com

(Release ID: 2103297) Visitor Counter : 46

MIL OSI Asia Pacific News –

February 15, 2025
MIL-OSI Security: Owner Of Las Vegas Company Indicted In $24 Million Cryptocurrency Ponzi Scheme

Source: Office of United States Attorneys

LAS VEGAS – A Las Vegas business owner made his initial appearance in court yesterday for allegedly misrepresenting that his company was a profitable, up-and-running artificial intelligence company that mined cryptocurrency, verified cryptocurrency transactions, paid fixed rates of return on investments, and provided a 100% money back guarantee. In total, the defendant obtained approximately $24 million from at least 400 investors.

“Mr. Kovar allegedly stole victims’ hard-earned money by making false representations regarding his investment company, including misleading some victims to believe their investments were backed by the FDIC,” said Ryan Korner, Special Agent in Charge with the Federal Deposit Insurance Corporation Office of Inspector General (FDIC OIG). “FDIC OIG is committed to identifying, and holding accountable, those who endanger our Nation’s financial system by victimizing others for their personal gain.”

Brent C. Kovar, 58, is charged with 12 counts of wire fraud, three counts of mail fraud, and three counts of money laundering. A jury trial has been scheduled to begin on April 8, 2025, before United States District Judge Jennifer A. Dorsey.

According to allegations contained in the indictment, from late 2017 to July 2021, Kovar owned Profit Connect, a Las Vegas, Nev., based company that purportedly used artificial intelligence software on a supercomputer to mine cryptocurrency and verify cryptocurrency transactions. He falsely represented to investors that Profit Connect paid a fixed rate of return of 15%-30% APR and provided a 100% money-back guarantee. In reality, Kovar used investor money to operate Profit Connect, buy gifts for employees, buy a house for himself, and repay investors as if those repayments came from mining cryptocurrency and verifying cryptocurrency transactions.

As part of the scheme, Kovar created a website, a YouTube video, and a PowerPoint presentation in which he made the misrepresentations to influence customers to buy investments. Furthermore, he leased office space for a sales office and a warehouse for a data center. As alleged, investments were sold through an entity known as Profit Connect Wealth Services. Kovar sent money via wire transfers to investors, he mailed checks through the U.S. Postal Service, and he engaged in monetary transactions greater than $10,000 that were derived from unlawful activity.

If convicted, Kovar faces a total maximum statutory penalty of 330 years in prison and a fine of not more than $4,500,000. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

Acting United States Attorney Sue Fahami, Special Agent in Charge Spencer L. Evans for the FBI Las Vegas Division, Special Agent in Charge Ryan Korner for the FDIC OIG, and Special Agent in Charge Carissa Messick for the IRS Criminal Investigation (IRS-CI) Phoenix Field Office made the announcement.

The FBI, FDIC OIG, and IRS-CI investigated the case. Assistant United States Attorney Daniel Schiess is prosecuting the case.

An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

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MIL Security OSI –

February 15, 2025
MIL-OSI USA: Duckworth, Durbin Renew Bipartisan Push to Approve Sale of E15 Year-Round

US Senate News:

Source: United States Senator for Illinois Tammy Duckworth

February 13, 2025

[WASHINGTON, D.C.] – U.S. Senator Tammy Duckworth (D-IL)—founding co-chair of the Senate Sustainable Aviation Fuel (SAF) Caucus—and Senate Democratic Whip Dick Durbin (D-IL) joined U.S. Senator Deb Fischer (R-NE) and a bipartisan group of Senators in reintroducing the Consumer and Fuel Retailer Choice Act. This legislation would allow the year-round, nationwide sale of ethanol blends higher than 10%—ending years of regulatory uncertainty and preventing a patchwork of uneven state regulations. Increasing the availability of biofuels like E15 would benefit the economy and the environment.

“For our country to remain a global energy leader, we must continue to invest in renewable and clean energy so we can decrease our emissions and dependence on foreign oil,” said Senator Duckworth. “Producing less expensive fuel choices like E15 that can be sold year-round would help lower gas prices, protect the environment, support our farmers and drive economic opportunity throughout the Midwest. I’m proud to join Senator Fischer in reintroducing our bipartisan legislation that would do just that.”

“E15 is a low-priced fuel for drivers and helps Illinois farmers who are facing uncertainty as Trump’s tariffs loom,” said Durbin. “Congress passed this legislation last December, but billionaire Elon Musk, who owns competing technology, stopped it in its tracks. We’re reintroducing the Nationwide Consumer and Fuel Retailer Choice Act, which would make E15 available year-round, nationwide.”

Along with Duckworth, Durbin and Fischer, the legislation is co-sponsored by U.S. Senators Shelley Moore Capito (R-WV), Amy Klobuchar (D-MN), John Thune (R-SD) Pete Ricketts (R-NE), Jerry Moran (R-KS), Chuck Grassley (R-IA), Roger Marshall (R-KS), Tammy Baldwin (D-WI), Joni Ernst (R-IA), Tina Smith (D-MN) and Mike Rounds (R-SD).

The legislation is endorsed by the American Petroleum Institute, Renewable Fuels Association, Growth Energy, National Corn Growers Association, National Farmer Union, National Association of Convenience Stores, Nebraska Corn Growers Association, Nebraska Farm Bureau and Renewable Fuels Nebraska.

A copy of the bill text can be found on Senator Duckworth’s website.

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MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Hickenlooper, Bennet, DeGette, Neguse, Crow, Pettersen, Sound Alarm About Trump Admin’s Cuts to Critical Colorado Medical Research

US Senate News:

Source: United States Senator John Hickenlooper – Colorado
Proposed cuts will weaken our public health, limit access to life-saving treatments while stifling medical research to cure cancer, fight infectious diseases, better support our veterans suffering from PTSD
In 2023, Colorado researchers received $575 million in NIH funding for medical research, supporting 7,000+ jobs in the state
WASHINGTON – Today, U.S. Senators John Hickenlooper and Michael Bennet along with Representatives Diana DeGette, Jason Crow, Joe Neguse, Brittany Pettersen wrote to the Senate and House Appropriations Committee to raise alarm about the Trump administration’s efforts to cut billions in federal funding for medical research and urged them to protect bipartisan research funding.
“Federal commitment to cutting edge research in health care results in real medical and scientific advancements which benefits us all… These proposed cuts result in less funding research in Colorado,” wrote the Colorado lawmakers. “Patients and researchers will experience the most negative consequences.”
In 2023, the National Institutes of Health (NIH) awarded over $575 million to Colorado researchers to solve cancer, study infectious diseases, and much more. Colorado’s medical research supports over 7,000 Colorado workers and generates more than $1.56 billion for our state’s economy. Over the weekend, the Trump administration announced plans to slash more than $4 billion in federal funding for critical biomedical research nationwide. A federal judge issued a temporary restraining order against the Trump administration, pausing their funding cuts.
These cuts would halt cutting-edge research across Colorado, including:
Efforts at Fort Lewis College to identify new colon and pancreatic cancer treatments
National Jewish Health’s leading research into asthma treatment and pulmonary function
Research for children with Down Syndrome at Colorado State University
Next-generation research at the University of Colorado Colorado Springs into the sequencing of chromosomal interactions
University of Colorado Anschutz Medical Center’s work on type 1 diabetes, breast cancer, and heart disease
Yesterday, Hickenlooper spoke on the Senate floor to raise alarm about the administration’s attempts to spread disinformation and anti-science views as well as the devastating impacts the proposed NIH cuts would have on Colorado.
“Biomedical research is the bedrock of how we bring forward and test new scientific discoveries and advance new treatments to dramatically improve care for children and adults. Restricting critical funding would have an immediate and devastating impact, shutting down programs, and potentially jeopardizing lives – setting our country back decades,” said Michael Salem, M.D., President and CEO of National Jewish Health, the leading respiratory hospital in the nation, based in Colorado.
Full text of the letter is available HERE.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: SBA Relief Still Available to Texas Small Businesses and Private Nonprofits Affected by Summer Drought

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Texas of the March 17, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought that began July 9, 2024.

The disaster declaration covers the counties of Coke, Concho, Crockett, Irion, Kimble, Menard, Reagan, Runnels, Schleicher, Sterling, Sutton and Tom Green.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the drought and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred.

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

To apply online, visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Submit completed loan applications to the SBA no later than March 17.

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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 www.sba.gov.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: SBA Relief Still Available to Montana Small Businesses and Private Nonprofits Affected by Spring Drought

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Montana of the March 17, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought that began May 15, 2024.

The disaster declaration covers the counties of Flathead, Granite, Lake, Mineral, Missoula, Powell, Ravalli and Sanders in Montana, and Clearwater and Idaho counties in Idaho.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the drought and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred.

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

To apply online, visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Submit completed loan applications to the SBA no later than March 17.

###

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 www.sba.gov.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: SBA Relief Still Available to Hawaii Private Nonprofits Affected by April Storms

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding private nonprofit (PNP) organizations in Hawaii of the March 17, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, flooding and landslides that occurred April 11-14, 2024.

The disaster declaration covers Kauai County.

Under the declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs that provide non-critical services of a governmental nature and suffered financial losses directly related to the disaster. Examples of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

EIDLs are available for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred.

The loan amount can be up to $2 million with interest rates as low as 3.25%, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

To apply online visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Submit completed loan applications to the SBA no later than March 17.

###

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 www.sba.gov.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: SBA Relief Still Available to Louisiana Small Businesses and Private Nonprofits Affected by May Tornado

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Louisiana of the March 17, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by the severe weather and tornado that occurred May 13, 2024.

The disaster declaration covers the parishes of Assumption, Iberia, Iberville, Lafayette, Pointe Coupee, St. Landry, St. Martin and St. Mary.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffered any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred.

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

To apply online, visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Submit completed loan applications to the SBA no later than March 17.

###

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 www.sba.gov.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: SBA Relief Still Available to Oklahoma Small Businesses and Private Nonprofits Affected by May Storms

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Oklahoma of the March 14, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, straight-line winds, tornadoes and flooding that occurred May 19-28, 2024.

The disaster declaration covers the counties of Adair, Beckham, Blaine, Caddo, Canadian, Cherokee, Comanche, Craig, Custer, Delaware, Dewey, Grady, Greer, Harmon, Haskell, Jackson, Kingfisher, Kiowa, Major, Mayes, McIntosh, Muskogee, Nowata, Okmulgee, Ottawa, Roger Mills, Rogers, Sequoyah, Tillman, Tulsa, Wagoner, Washington and Washita in Oklahoma, as well as Benton County in Arkansas, McDonald County in Missouri and Hardeman and Wilbarger counties in Texas.

Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

For more information and to apply online visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Submit completed loan applications to the SBA no later than March 14.

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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 www.sba.gov.

MIL OSI USA News –

February 15, 2025

MIL-OSI: Pinnacle Bankshares Corporation Announces 2024 4th Quarter & Full-Year Earnings

Source: GlobeNewswire (MIL-OSI)

ALTAVISTA, Va., Feb. 14, 2025 (GLOBE NEWSWIRE) — Net income for Pinnacle Bankshares Corporation (OTCQX:PPBN), the one-bank holding company (the “Company” or “Pinnacle”) for First National Bank (the “Bank”), was $2,800,000, or $1.27 per basic and diluted share, for the fourth quarter of 2024, while net income for the year ended December 31, 2024 was $9,178,000, or $4.15 per basic and diluted share. In comparison, net income was $2,279,000, or $1.04 per basic and diluted share, and $9,762,000 or $4.45 per basic and diluted share, respectively, for the same periods of 2023. Consolidated results for 2024 are unaudited.

2024 4^thQuarter & Full-Year Highlights
Income Statement comparisons are to the 4^thQuarter & year ended December 31, 2023
Balance Sheet, Capital Ratios, and Stock Price comparisons are to December 31, 2023

Income Statement

For the 4^thQuarter of 2024:

Net Income increased $521,000, or 23%, overall and 30% excluding Bank Owned Life Insurance (BOLI) proceeds.*

For 2024:

Net Income decreased $584,000, or 6%, overall and was approximately equal to 2023 Net Income excluding BOLI proceeds.*
Return on Assets was 0.92%.
Net Interest Income increased $2.3 million, or 7% while Net Interest Margin expanded to 3.70%.
Provision for Credit Losses increased to $752,000 due to loan growth of 11%. Asset Quality remains strong with low Nonperforming Loans and no Other Real Estate Owned (OREO).
Noninterest Income increased $499,000, or 7.5%, excluding BOLI proceeds, which was driven by higher fees from Merchant Card Processing and Sales of Mortgage Loans.*
Noninterest Expense increased $2.1 million, or 7%, primarily due to higher Core Operating System expenses as well as Salaries and Employee Benefits.

Balance Sheet

Cash and Cash Equivalents increased $20.6 million, or 24%, to $108 million.
Loans increased $70.5 million, or 11%, to $712 million.
Securities decreased $57.8 million, or 25%, to $176 million due to maturing U.S. Treasury Notes. The Securities Portfolio is relatively short term in nature with $58 million in U.S. Treasury Notes maturing during the first four months of 2025 providing liquidity, funding, and optionality.
Total Assets increased $27.5 million, or 3%, to $1.04 Billion.
Deposits increased $18.5 million, or 2%, to $951 million with Deposit Accounts growing 4%.
As of year-end, Liquidity was strong at 33%, and 12% excluding Available for Sale Securities.

Capital Ratios & Stock Price

The Bank’s Leverage Ratio increased to 9.21% due primarily to profitability, while its Total Risk Based Capital Ratio decreased slightly to 13.52% due to loan growth.
Pinnacle’s Stock Price ended the year at $31.20 per share, based on the last trade, which is an increase of $7.19, or 30%. Total Return was 34.11% for 2024.

*BOLI proceeds of $779,000 and $725,000 were received during the 4^thQuarter of 2024 and 2023, respectively. BOLI proceeds of $779,000 and $1,363,000 were received during full-year 2024 and 2023, respectively.

Net Income and Profitability

Net income generated during the fourth quarter of 2024 represents a $521,000, or 23%, increase as compared to the same time period of 2023. Net of BOLI proceeds, net income generated during the fourth quarter of 2024 represents a $467,000, or 30%, increase as compared to the same time period of 2023. The increase was driven by higher net interest income and noninterest income, partially offset by higher noninterest expense and higher provision for credit losses.

Net income generated for 2024 represents a $584,000, or 6%, decrease as compared to the prior year. Net of BOLI proceeds, net income generated for 2024 and was approximately equal to the prior year. The overall decrease was driven by higher noninterest expense and provision for credit losses, partially offset by higher net interest income.

Profitability as measured by the Company’s return on average assets (“ROA”) decreased to 0.92% for 2024, as compared to 1.00% for the same time period of 2023. Correspondingly, return on average equity (“ROE”) decreased to 12.49% for 2024, as compared to 15.69% for the same time period of 2023.

“We are pleased with Pinnacle’s 2024 core performance and investments made for our future through market expansion and talent acquisition,” stated Aubrey H. Hall, III, President and Chief Executive Officer for both the Company and the Bank. He further commented, “Our Company continues to perform very well compared to peers and has benefitted from ample liquidity, an expanding net interest margin, and strong asset quality. These factors have contributed to enhanced returns for our shareholders through increased dividends and share price appreciation.”

Net Interest Income and Margin

The Company generated $9,279,000 in net interest income for the fourth quarter of 2024, which represents a $908,000, or 11%, increase as compared to $8,371,000 for the fourth quarter of 2023. Interest income increased $1,514,000, or 14%, due to higher yields on earning assets and increased loan volume, while interest expense increased $606,000, or 23%, due to higher interest rates paid on deposits and increased certificates of deposit volume.

The Company generated $35,448,000 in net interest income for 2024, which represents a $2,276,000, or 7%, increase as compared to $33,172,000 for 2023. Interest income increased $5,855,000, or 14%, as yield on earning assets increased 54 basis points to 4.98%. Interest expense increased $3,579,000, or 41%, due to higher interest rates paid on deposits as cost to fund earning assets increased 36 basis points to 1.28%. Net interest margin increased to 3.70% for 2024 from 3.52% for 2023.

Reserves for Credit Losses and Asset Quality

Provision for credit losses was $356,000 in the fourth quarter of 2024 as compared to $4,000 in the fourth quarter of 2023. For 2024, the provision for credit losses was $752,000 as compared to $70,000 in 2023. Provision expense increased for the quarter and year as a result of higher loan volume.

The allowance for credit losses (ACL) was $5,084,000 as of December 31, 2024, which represented 0.71% of total loans outstanding. In comparison, the ACL was $4,511,000 or 0.70% of total loans outstanding as of December 31, 2023. Non-performing loans to total loans decreased to 0.22% as of December 31, 2024, compared to 0.24% as of year-end 2023. ACL coverage of non-performing loans was 321% as of December 31, 2024, compared to 290% as of year-end 2023. Management views the allowance balance as being sufficient to offset potential future losses in the loan portfolio.

Noninterest Income and Expense

Noninterest income for the fourth quarter of 2024 increased $324,000, or 14%, to $2,681,000 as compared to $2,357,000 for the fourth quarter of 2023. The increase was primarily due to a $100,000 increase in fees generated from sales of mortgage loans, a $100,000 increase in other recoveries, a $45,000 increase in BOLI returns, including earlier referenced proceeds, a $23,000 increase in merchant card fees, and a $20,000 increase in service charges on loan accounts.

Noninterest income for 2024 decreased $85,000, or 1%, to $7,879,000 as compared to $7,964,000 for 2023. The slight decrease was mainly due to a $538,000 decrease in BOLI returns, including earlier referenced proceeds, and a $106,000 decrease in interchange fees. These decreases were partially offset by a $153,000 increase in fees generated from the sale of mortgage loans, a $126,000 increase in merchant card fees, a $98,000 increase in other recoveries, a $63,000 increase in nonsufficient funds and other deposit service charges, a $58,000 increase in service charges on loan accounts, and a $53,000 increase in commissions and fees from sales of investment and insurance products. Excluding BOLI proceeds, noninterest income increased $499,000, 7.5%, year-over-year.

Noninterest expense for the fourth quarter of 2024 increased $280,000, or 3%, to $8,373,000 as compared to $8,093,000 for the fourth quarter of 2023. The increase was primarily due to a $310,000 increase in salaries and employee benefits, a $75,000 increase in occupancy expense, and a $24,000 increase in dealer loan expense partially offset by a $293,000 decrease in core operating system expenses.

Noninterest expense for 2024 increased $2,137,000, or 7%, to $31,417,000 as compared to $29,280,000 for 2023. The increase was mainly due to a $758,000 increase in salaries and employee benefits, a $401,000 increase in core operating system expenses, a $213,000 increase in occupancy expense, a $210,000 in other losses, and a $133,000 increase dealer loan expenses.

The Balance Sheet and Liquidity

Total assets as of December 31, 2024, were $1,043,994,000, up $27,465,000, or 3%, from $1,016,528,000 as of December 31, 2023. The principal components of the Company’s assets as of December 31, 2024, were $711,918,000 in total loans, $175,816,000 in securities, and $108,213,000 in cash and cash equivalents. For 2024, total loans increased $70,481,000, or 11%, from $641,437,000, securities decreased $57,762,000, or 25%, from $233,579,000, and cash and cash equivalents increased $20,624,000, or 24%, from $87,589,000.

The majority of the Company’s securities portfolio is relatively short-term in nature with forty-nine percent (49%) invested in U.S. Treasury Notes having an average maturity of less than a year with $58,000,000 maturing during the first four months of 2025. The Company’s entire securities portfolio was classified as available for sale on December 31, 2024, which provides transparency regarding unrealized losses. Unrealized losses associated within the available for sale securities portfolio were $11,817,000 as of December 31, 2024, or six percent (6%) of book value, an improvement from $14,943,000 as of December 31, 2023.

The Company had a strong liquidity ratio of 33% as of December 31, 2024. The liquidity ratio excluding the available for sale securities portfolio was 12% providing the opportunity to sell excess funds at an attractive federal funds rate. The Company has access to multiple liquidity lines of credit through its correspondent banking relationships and the Federal Home Loan Bank. None of these contingency funding sources have been utilized.

Total liabilities as of December 31, 2024 were $965,608,000, up $17,485,000, or 2%, from $948,123,000 as of December 31, 2023, as deposits increased $18,475,000, or 2%, in 2024 to $950,919,000 from $932,444,000. First National Bank’s number of deposit accounts increased 4% during the same time period as the Bank has benefited from the closures of large national bank branches and bank mergers within markets served along with its reputation for providing extraordinary customer service.

Total stockholders’ equity as of December 31, 2024 was $78,386,000 and consisted primarily of $69,035,000 in retained earnings. In comparison, as of December 31, 2023 total stockholders’ equity was $68,405,000. The increase is due primarily to 2024 profitability and an increase in the market value of the securities portfolio and pension assets. Both the Company and Bank remain “well capitalized” per all regulatory definitions.

New Full Service Branch in South Boston

On January 2, 2025, First National Bank opened a full service branch at 4027 Halifax Road, South Boston, Virginia. This is in addition to the Bank opening a Loan Production Office (LPO) at 97A Main Street, South Boston, Virginia in the third quarter of 2024. We have had great response from the South Boston and Halifax community and look forward to servicing customers with a community bank approach.

Company Information

Pinnacle Bankshares Corporation is a locally managed community banking organization serving Central and Southern Virginia. The one-bank holding company of First National Bank serves market areas consisting primarily of all or portions of the Counties of Amherst, Bedford, Campbell, Halifax, and Pittsylvania, and the Cities of Charlottesville, Danville, and Lynchburg. The Company has a total of nineteen branches with one branch in Amherst County within the Town of Amherst, two branches in Bedford County; five branches in Campbell County, including two within the Town of Altavista, where the Bank was founded; one branch in the City of Charlottesville, three branches in the City of Danville; three branches in the City of Lynchburg; and three branches in Pittsylvania County, including one within the Town of Chatham. A Loan Production Office and a full-service branch have recently been opened in the South Boston area of Halifax County. First National Bank is in its 117^th year of operation.

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of federal securities laws that involve significant risks and uncertainties. Any statements contained herein that are not historical facts are forward-looking and are based on current assumptions and analysis by the Company. These forward-looking statements, including statements made in Mr. Hall’s quotes may include, but are not limited to, statements regarding the credit quality of our asset portfolio in future periods, the expected losses of nonperforming loans in future periods, returns and capital accretion during future periods, our cost of funds, the maintenance of our net interest margin, future operating results and business performance and our growth initiatives. Although we believe our plans and expectations reflected in these forward-looking statements are reasonable, our ability to predict results or the actual effect of future plans or strategies is inherently uncertain, and we can give no assurance that these plans or expectations will be achieved. Factors that could cause actual results to differ materially from management’s expectations include, but are not limited to: changes in consumer spending and saving habits that may occur, including increased inflation; changes in general business, economic and market conditions; attracting, hiring, training, motivating and retaining qualified employees; changes in fiscal and monetary policies, and laws and regulations; changes in interest rates, inflation rates, deposit flows, loan demand and real estate values; changes in the quality or composition of the Company’s loan portfolio and the value of the collateral securing loans; changes in macroeconomic trends and uncertainty, including liquidity concerns at other financial institutions, and the potential for local and/or global economic recession; changes in demand for financial services in Pinnacle’s market areas; increased competition from both banks and non-banks in Pinnacle’s market areas; a deterioration in credit quality and/or a reduced demand for, or supply of, credit; increased information security risk, including cyber security risk, which may lead to potential business disruptions or financial losses; volatility in the securities markets generally, including in the value of securities in the Company’s securities portfolio or in the market price of Pinnacle common stock specifically; and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and you should not place undue reliance on such statements, which reflect our views as of the date of this release.

Selected Financial Highlights are shown on the next page.

Pinnacle Bankshares Corporation Selected Financial Highlights (12/31/2024 and 9/30/24 results unaudited) (In thousands, except ratios, share, and per share data)

	3 Months Ended			3 Months Ended			3 Months Ended
Income Statement Highlights	12/31/2024			9/30/2024			12/31/2023
Interest Income	$	12,543		$	12,262		$	11,029
Interest Expense		3,264			3,321			2,658
Net Interest Income		9,279			8,941			8,371
Provision for Credit Losses		356			136			4
Noninterest Income		2,681			1,763			2,357
Noninterest Expense		8,373			7,961			8,093
Net Income		2,800			2,085			2,279
Earnings Per Share (Basic)		1.27			0.94			1.04
Earnings Per Share (Diluted)		1.27			0.94			1.04

	Year Ended			Year Ended			Year Ended
Income Statement Highlights	12/31/2024			12/31/2023			12/31/2022
Interest Income	$	47,743		$	41,888		$	31,788
Interest Expense		12,295			8,716			1,348
Net Interest Income		35,448			33,172			30,440
Provision for Credit Losses		752			70			190
Noninterest Income		7,879			7,964			7,023
Noninterest Expense		31,417			29,280			27,237
Net Income		9,178			9,762			8,242
Earnings Per Share (Basic)		4.15			4.45			3.78
Earnings Per Share (Diluted)		4.15			4.45			3.78

Balance Sheet Highlights	12/31/2024			12/31/2023			12/31/2022
Cash and Cash Equivalents	$	108,213		$	87,589		$	36,521
Total Loans		711,918			641,437			632,896
Total Securities		175,816			233,579			251,114
Total Assets		1,043,994			1,016,528			969,931
Total Deposits		950,919			932,444			899,238
Total Liabilities		965,608			948,123			912,923
Stockholders’ Equity		78,386			68,405			57,008
Shares Outstanding		2,212,270			2,198,158			2,178,486

Ratios and Stock Price	12/31/2024			12/31/2023			12/31/2022
Gross Loan-to-Deposit Ratio		74.87	%		68.79	%		70.38	%
Net Interest Margin (Year-to-date)		3.70	%		3.52	%		3.18	%
Liquidity		32.60	%		37.27	%		32.68	%
Efficiency Ratio		72.49	%		71.20	%		72.71	%
Return on Average Assets (ROA)		0.92	%		1.00	%		0.82	%
Return on Average Equity (ROE)		12.49	%		15.69	%		14.62	%
Leverage Ratio (Bank)		9.21	%		8.82	%		8.06	%
Tier 1 Capital Ratio (Bank)		12.81	%		12.98	%		12.03	%
Total Capital Ratio (Bank)		13.52	%		13.67	%		12.63	%
Stock Price	$	31.20		$	24.01		$	19.20
Book Value	$	35.43		$	31.12		$	26.17


Asset Quality Highlights	12/31/2024			12/31/2023			12/31/2022
Nonaccruing Loans	$	1,582		$	1,557		$	1,561
Loans 90 Days or More Past Due and Accruing		0			0			221
Total Nonperforming Loans		1,582			1,557			1,782
Loan Modifications		109			357			1,056
Loans Individually Evaluated		2,010			2,287			2,884
Other Real Estate Owned (OREO) (Foreclosed Assets)		0			0			0
Total Nonperforming Assets		1,582			1,557			1,782
Nonperforming Loans to Total Loans		0.22	%		0.24	%		0.28	%
Nonperforming Assets to Total Assets		0.15	%		0.15	%		0.18	%
Allowance for Credit Losses	$	5,084		$	4,511		$	3,853
Allowance for Credit Losses to Total Loans		0.71	%		0.70	%		0.61	%
Allowance for Credit Losses to Nonperforming Loans		321	%		290	%		216	%

CONTACT: Pinnacle Bankshares Corporation, Bryan M. Lemley, 434-477-5882 or bryanlemley@1stnatbk.com

The MIL Network –

February 15, 2025

MIL-OSI USA: Attorney General Bonta Reminds Californians: Love is Real, But So Are Scams
Source: US State of California

Friday, February 14, 2025

Contact: (916) 210-6000, agpressoffice@doj.ca.gov
OAKLAND – On Valentine’s Day, California Attorney General Rob Bonta today issued a consumer alert warning Californians to beware of romance scams. Romance scams occur when a criminal adopts a fake identity to gain a victim’s affection and trust to manipulate or steal their finances or personal information. This usually occurs through various forms of communication including phone calls, text messages, social media, and dating sites.

“Love should never come at a price,” said Attorney General Bonta. “Scammers can use deception and emotional manipulation to take advantage of people looking for connection. I urge Californians this Valentine’s Day to stay vigilant, protect their hearts and wallets, and remember — if a stranger online asks for money, gift cards, or personal information — it is most likely a scam.”

According to the Federal Trade Commission, in 2022 almost 70,000 people reported being victims of a romance scam, reporting an average loss of $4,400. New technology can make it easier for scammers to create sophisticated impersonations and to make more convincing requests for money or personal information. Remember, never send money, gift cards, or other financial details to someone you don’t know and haven’t met in person.

Learn the Warning Signs

You may be dealing with a scammer if they:
1. Send you photos that look too perfect to be real.
2. Profess their love to you quickly.
3. Lavish you with texts, emails and phone calls to draw you in.
4. Promise to meet in person, but never follow through.
5. Request to move off the platform where you first connected.
6. Make an urgent request for money to deal with an emergency or investment.
Protect Yourself from Romance Scams:
1. Don’t send money to someone you haven’t met in person: This is a common request made by scammers.
2. Don’t share personal information: Be careful about what personal information you share, such as your address or financial information.
3. Talk to friends and family: If you’re not sure about someone, talk to your friends and family for a second opinion.
4. Do your research: Use various search engines to look up a person’s photos and details to see if they have been used elsewhere.
5. Be wary of any investment offers, particularly those involving cryptocurrency: Scammers often set up fake websites simulating actual cryptocurrency investment opportunities in order to entice unsuspecting investors.
6. Check for inconsistencies: Watch for inconsistencies in a person’s story, such as changes in details or lack of information about their background.
7. Use dating apps safely: Avoid moving a conversation to a private messaging platform unless you are certain of the recipient’s identity. Scammers want you to move to an app that doesn’t identify them in real life.
8. Trust your instincts: If something seems too good to be true, it most likely is.
What to Do If You Suspect a Scam

If you believe you are being targeted by a romance scam, take action immediately:
1. Stop communicating. Do not engage further with the suspected scammer.
2. Report the profile. Social media and dating apps have built-in reporting features for fraudulent accounts.
3. File a complaint. Report scams to the Federal Trade Commission (FTC), the FBI’s Internet Crime Complaint Center (IC3), or your local law enforcement.
# # #

MIL OSI USA News –
February 15, 2025
MIL-OSI USA: Grassley, Colleagues Reintroduce Bill to Permanently Repeal the Death Tax

US Senate News:

Source: United States Senator for Iowa Chuck Grassley

WASHINGTON – Sen. Chuck Grassley (R-Iowa), a senior member and former chairman of the Senate Finance Committee, joined Senate Majority Leader John Thune (R-S.D.) and 44 senators in reintroducing legislation to permanently repeal the federal estate tax, commonly known as the death tax. The Death Tax Repeal Act would end this purely punitive tax that can hit family-run farms, ranches and businesses as the result of the owner’s death.

“After a farmer or business owner puts a lifetime of work into a family business, the death tax slaps the next generation with an unaffordable burden upon the passing of a loved one. It’s an outdated measure that’s keeping family farms and businesses from where they’re supposed to be; in the family. Our legislation would end this tax so that family farms can keep their money, invest in the rural communities and create new opportunities,” Grassley said.

“Family farms and ranches play a vital role in our economy and are the lifeblood of rural communities in South Dakota. Losing even one of them to the death tax is one too many. It’s time to put an end to this punishing, burdensome tax once and for all so that family farms, ranches and small businesses can grow and thrive without costly estate planning or massive tax burdens that can threaten their viability,” Thune said.

Additional cosponsors are Sens. Jim Banks (R-Ind.), John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), John Boozman (R-Ark.), Katie Britt (R-Ala.), Ted Budd (R-N.C.), Shelley Moore Capito (R-W.Va.), John Cornyn (R-Texas), Tom Cotton (R-Ark.), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), Ted Cruz (R-Texas), John Curtis (R-Utah), Steve Daines (R-Mont.), Joni Ernst (R-Iowa), Deb Fischer (R-Neb.), Lindsey Graham (R-S.C.), Bill Hagerty (R-Tenn.), Josh Hawley (R-Mo.), John Hoeven (R-N.D.), Cindy Hyde-Smith (R-Miss.), Ron Johnson (R-Wis.), Jim Justice (R-W.Va.), John Kennedy (R-La.), James Lankford (R-Okla.), Mike Lee (R-Utah), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Mitch McConnell (R-Ky.), Dave McCormick (R-Pa.), Jerry Moran (R-Kan.), Bernie Moreno (R-Ohio), Markwayne Mullin (R-Okla.), Pete Ricketts (R-Neb.), Jim Risch (R-Idaho), Mike Rounds (R-S.D.), Eric Schmitt (R-Mo.), Rick Scott (R-Fla.), Tim Scott (R-S.C.), Tim Sheehy (R-Mont.), Thom Tillis (R-N.C.), Tommy Tuberville (R-Ala.), Roger Wicker (R-Miss.) and Todd Young (R-Ind.).

Companion legislation was introduced in the House of Representatives by Rep. Randy Feenstra (R-Iowa).

Find bill text HERE.

Background:

Grassley has long opposed the death tax, he welcomed the Senate’s attempt to repeal the death tax while Congress considered the Tax Cuts and Jobs Act (TCJA) in 2017. Although the final version of the TCJA did not repeal the death tax, the law effectively doubled the individual estate and gift tax exclusion to $10 million (approximately $13.9 million in 2025 dollars) through 2025, which prevents more families and generationally-owned businesses from being affected by this tax. The increased exclusion expires at the end of 2025, which increases uncertainty and planning costs for family-owned businesses, farms and ranches.

The Death Tax Repeal Act is supported by more than 190 members of the Family Business Coalition and more than 105 members of the Family Business Estate Tax Coalition, which includes the National Federation of Independent Business, the National Restaurant Association, the National Association of Home Builders and the U.S. Chamber of Commerce.

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MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Relief Still Available to Florida Private Nonprofits Hit by May Tornadoes

Source: United States Small Business Administration

ATLANTA – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in Florida of the March 17 deadline to apply for low interest federal disaster loans to offset economic losses caused by the severe storms, straight-line winds and tornadoes that occurred May 10, 2024.

The disaster declaration covers the counties of Baker, Columbia, Gadsen, Hamilton, Jefferson, Lafayette, Leon, Liberty, Madison, Santa Rosa, Suwanee, Taylor and Wakulla.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises. 

EIDLs are available for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

The loan amount can be up to $2 million with interest rates as low as 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition. 

For more information and to apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The deadline to return economic injury applications is March 17, 2025.

###

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 or 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 www.sba.gov.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: SBA Relief Still Available to Florida Businesses Affected by May Storms and Tornadoes

Source: United States Small Business Administration

ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Florida of the March 17, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the severe storms, straight-line winds and tornadoes that occurred on May 10, 2024.

The disaster declaration covers the counties of Gadsden, Jefferson, Leon, Liberty, and Wakulla in Florida, as well as the counties of Grady and Thomas in Georgia.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

To apply online visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The deadline to return economic injury applications is March 17, 2025.

# # #

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, or 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 www.sba.gov.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: SBA Relief Still Available to Oklahoma Private Nonprofits Affected by May Storms

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in Oklahoma of the March 14, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, straight-line‑winds, tornadoes and flooding that occurred May 19-28, 2024.

The disaster declaration covers the counties of Blaine, Caddo, Custer, Delaware, Jackson, Mayes, Roger Mills, Rogers and Woods.

Under the declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs that provide non-critical services of a governmental nature and suffered financial losses directly related to the disaster. Examples of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

EIDLs are available for working capital needs cause by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred.

Interest rates can be as low as 3.25% with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.

For more information and to apply online visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Submit completed loan applications no later than March 14.

###

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 www.sba.gov.

MIL OSI USA News –

February 15, 2025

MIL-OSI: Southern Michigan Bancorp, Inc. Announces Fourth Quarter and Full Year 2024 Earnings

Source: GlobeNewswire (MIL-OSI)

COLDWATER, Mich., Feb. 14, 2025 (GLOBE NEWSWIRE) — Southern Michigan Bancorp, Inc. (OTC Pink: SOMC) announced fourth quarter net income of $2,650,000, or $0.57 per share, compared to net income of $2,437,000, or $0.54 per share, for the fourth quarter of 2023. Southern earned $10,402,000 or $2.28 per share, for the year ended December 31, 2024, compared with $10,905,000 or $2.40 per share, for the same period one year ago.

John R. Waldron, President and Chief Executive Officer of Southern Michigan Bancorp, Inc., stated, “2024 was another solid year with total assets reaching approximately $1.5 billion. During the year ended December 31, 2024, total loans and deposits grew to $1.116 billion and $1.252 billion, respectively. While our earnings continue to be impacted by the current interest rate environment, we remain encouraged by the strength of our core deposits and our ability to maintain asset quality.”

The allowance for credit losses totaled $12,782,000, or 1.14% of loans on December 31, 2024, compared to $11,697,000, or 1.13% on December 31, 2023. Net loan charge-offs totaled $27,000 for 2024, compared to $15,000 for 2023. Non-performing loans as a percentage of total loans were 0.08% on December 31, 2024 and December 31, 2023.

The annualized return on average assets for the years ended December 31, 2024, and December 31, 2023, was 0.71% and 0.80%, respectively. The annualized return on average equity was 10.07% for 2024 compared to 11.94% for 2023. The tax equivalent net interest margin for the years ending December 31, 2024, and 2023 was 2.98% and 3.16%, respectively.

Southern Michigan Bancorp, Inc. is a bank holding company and the parent company of Southern Michigan Bank & Trust. It operates 18 offices within Branch, Calhoun, Hillsdale, Jackson, Kalamazoo and St. Joseph Counties providing a broad range of consumer, business and wealth management services throughout the region.

This press release contains forward-looking statements that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy, and Southern Michigan Bancorp, Inc. Forward-looking statements are identifiable by words or phrases such as “expected,” “begin,” and other similar words or expressions. All statements with reference to a future time period are forward-looking. Management’s determination of the provision and allowance for credit losses and other accounting estimates, such as the carrying value of goodwill, other real estate owned, mortgage servicing rights and the fair value of investment securities, involves judgments that are inherently forward-looking. The future effect of changes in the financial and credit markets and the national and regional economy on the banking industry, generally, and Southern Michigan Bancorp, Inc., specifically, are also inherently uncertain. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions (“risk factors”) that are difficult to predict with regard to timing, extend, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed in or implied by such forward-looking statements. Southern Michigan Bancorp, Inc. does not undertake to update forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.


SOUTHERN MICHIGAN BANCORP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(In thousands, except share data)
	December 31, 2024			December 31, 2023
ASSETS
Cash and cash equivalents	$	73,737		$	71,620
Federal funds sold		259			1,468
Securities available for sale, at fair value		159,320			169,740
Securities held-to-maturity, at amortized cost		60,454			61,600
Loans held-for-sale		995			169
Loans, net of allowance for credit losses of $12,782 – 2024, $11,697 – 2023		1,103,652			1,024,720
Premises and equipment, net		25,600			23,114
Net cash surrender value of life insurance		23,139			22,472
Goodwill		13,422			13,422
Other intangible assets, net		111			147
Other assets		35,866			26,323
TOTAL ASSETS	$	1,496,555		$	1,414,795

LIABILITIES
Deposits:
Non-interest bearing	$	223,583		$	226,178
Interest bearing		1,028,212			931,793
Total deposits		1,251,795			1,157,971

Securities sold under agreements to repurchase and overnight borrowings		1,560			1,738
Accrued expenses and other liabilities		18,355			15,703
Other borrowings		82,900			106,900
Subordinated debentures		34,722			34,653
Total liabilities		1,389,332			1,316,965

SHAREHOLDERS’ EQUITY
Preferred stock, 100,000 shares authorized; none issued or outstanding		–			–
Common stock, $2.50 par value:
Authorized – 10,000,000 shares
Issued and outstanding – 4,577,107 shares in 2024, 4,533,637 shares in 2023		11,438			11,330
Additional paid-in capital		13,438			13,126
Retained earnings		97,462			89,808
Accumulated other comprehensive loss		(15,115	)		(16,434	)
Total shareholders’ equity		107,223			97,830
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,496,555		$	1,414,795


SOUTHERN MICHIGAN BANCORP, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(In thousands, except per share data)

	Three Months Ended December 31,				Year Ended December 31,
	2024		2023		2024		2023
Interest income:
Loans, including fees	$	16,628	$	15,308	$	64,376	$	54,887
Federal funds sold and balances with banks		999		766		4,629		3,125
Securities:
Taxable		1,376		1,635		5,889		6,291
Tax-exempt		318		304		1,222		1,265
Total interest income		19,321		18,013		76,116		65,568

Interest expense:
Deposits		7,358		6,077		29,013		20,593
Other		1,315		1,606		6,016		4,995
Total interest expense		8,673		7,683		35,029		25,588
Net interest income		10,648		10,330		41,087		39,980
Provision for credit losses		353		–		1,014		950
Net interest income after provision for credit losses		10,295		10,330		40,073		39,030

Non-interest income:
Service charges on deposit accounts		422		422		1,692		1,670
Trust fees		704		632		2,744		2,419
Net gains on loan sales		253		119		672		305
Earnings on life insurance assets		170		161		667		617
ATM and debit card fee income		462		447		1,818		1,786
Other		289		296		898		941
Total non-interest income		2,300		2,077		8,491		7,738

Non-interest expense:
Salaries and employee benefits		6,233		5,836		22,388		20,586
Occupancy, net		540		416		2,054		1,813
Equipment		425		385		1,658		1,449
Professional and outside services		581		770		2,156		2,243
Software maintenance		635		608		2,452		2,247
ATM expenses		212		201		841		803
Printing, postage, and supplies		97		118		510		437
Telecommunication expenses		73		109		313		376
Other		1,096		940		4,053		3,466
Total non-interest expense		9,892		9,383		36,425		33,420
INCOME BEFORE INCOME TAXES		2,703		3,024		12,139		13,348
Federal income tax provision		53		587		1,737		2,443
NET INCOME	$	2,650	$	2,437	$	10,402	$	10,905

Basic Earnings Per Common Share	$	0.57	$	0.54	$	2.28	$	2.40
Diluted Earnings Per Common Share		0.57		0.54		2.28		2.40
Dividends Declared Per Common Share		0.15		0.14		0.60		0.56

The MIL Network –

February 15, 2025

MIL-OSI USA: As Tax Season Ramps Up, Warren, Cassidy Renew Effort to Simplify IRS Error Notices for Taxpayers
US Senate News:
Source: United States Senator for Massachusetts – Elizabeth Warren

February 14, 2025

Bill Text (PDF) | Bill One-Pager (PDF)

Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Bill Cassidy (R-La.) reintroduced the Internal Revenue Service Math and Taxpayer Help (IRS MATH) Act, a bill to improve math error notices — an Internal Revenue Service (IRS) authority used to quickly adjust taxpayers’ returns.

Representatives Brad Schneider (D-Ill.) and Randy Feenstra (R-Iowa) recently reintroduced the bill in the House, and the bill passed unanimously out of the U.S. House Ways and Means Committee during markup on February 12, 2025.

Each year, the IRS sends millions of Americans math error notices, expedited adjustments to tax returns that contain simple math or clerical errors. These “vague and confusing” notices often list several potential errors that may have been made rather than specifying the exact issue leading to a refund being reduced. The notices also fail to explain that taxpayers have only 60 days to challenge the IRS’s position and fail to explain how taxpayers can contest these notices, causing many taxpayers to forfeit their right to challenge the adjustments.

The lawmakers hope to improve this unworkable system to help taxpayers, especially low-income and non-English speaking Americans, who cannot afford lawyers to help them navigate the complicated correspondence process. The Math ACT was included in the Senate Finance Committee’s discussion draft of bipartisan legislation that aims to reform IRS administration and procedure.

“IRS communications to taxpayers should be clear and easy to understand,” said Senator Warren. “This bipartisan bill will reform notoriously confusing error notices so that hardworking Americans can get the money they’re entitled to quickly and fairly.”

“Taxes are already complicated, and the last thing Americans need is more confusion,” said Dr. Cassidy. “We’re making sure the IRS does its part to inform taxpayers when they correct inevitable errors made on tax returns.”

“If the IRS finds a mistake on a tax return, this agency should be required to clearly communicate that error to the taxpayer and explain why a tax refund is higher or lower than expected. That’s why I’m glad to introduce legislation to ensure that the IRS clearly spells out errors on tax forms and helps taxpayers not only understand the mistake but also challenge it if they see fit,” said Representative Feenstra. “Filing taxes is already burdensome and time-consuming. We can improve customer service by instituting open and transparent communication between the IRS and the taxpayer when a tax error is identified.”

Senators Warren and Cassidy initially introduced the bill in 118th Congress.

The IRS MATH Act reforms the math error process by:
- Directing the IRS to improve notices of math or clerical errors, requiring that notices:
  
  Identify the line item the IRS is changing;
  
  Explain the reason for the change, and;
  
  Clearly list the taxpayer’s required response date.
- Requiring that the IRS notify the taxpayer of abatement determinations.
- Requiring the Treasury Secretary to provide additional procedures for requesting an abatement of a math or clerical error adjustment, including by telephone or in person.
- Creating a pilot program coordinated by the IRS and National Taxpayer Advocate to determine the benefit of sending math or clerical error notices by certified or registered mail.
Senator Warren has, throughout her career, advocated for low-income taxpayers and for improved IRS procedures:
- In January 2025, Senator Elizabeth Warren (D-Mass.) led over 135 members of Congress in writing to Treasury Secretary-Designate Scott Bessent and Internal Revenue Services’ (IRS) Commissioner-Designate Billy Long, urging them to maintain and expand the IRS’ Direct File program.
- In October 2024, Senators Elizabeth Warren, Ron Wyden (D-Ore.), and Representative Katie Porter (D-Calif.) wrote to the Department of the Treasury and the Internal Revenue Service urging the agencies to make the Direct File tax filing program more secure and accessible by ending reliance on ID.me, which uses a flawed facial recognition software.
- In April 2024, following the 2024 tax filing deadline, at a hearing of the U.S. Senate Committee on Finance, Senator Elizabeth Warren questioned IRS Commissioner Daniel I. Werfel, on the IRS’s use of Inflation Reduction Act funds to successfully pilot a Direct File program, a first-of-its-kind option for Americans in twelve states to be able to file their taxes online directly with the IRS, easily and for free.
- In April 2024, Senator Warren and colleagues applauded the success of Direct File’s Pilot during the 2024 tax filing season, highlighting rave reviews, millions of dollars in refunds claimed and filing fees saved.
- In April 2024, Senator Warren sent a letter to Chair Lina M. Khan of the Federal Trade Commission (FTC), blasting Intuit, the maker of TurboTax, for continuing to relentlessly upsell TurboTax users despite numerous FTC and state lawsuits and settlements. Senator Warren applauded the FTC’s oversight of Intuit, and urged the Commission to continue to take action to protect taxpayers from tax preparation companies that pile junk fees onto users.
- In March 2024, Senator Warren celebrated the successful launch of the IRS’s Direct File pilot.
- In March 2024, Senator Warren highlighted the positive feedback that the IRS’s Direct File pilot in 12 states has received from taxpayers and asked Secretary of the Treasury Janet Yellen to commit to expanding and extending the program in 2025 if positive feedback continues, which Yellen agreed to.
- In February 2024, Senators Warren, Blumenthal, Sanders, and Representative Porter sent a response to Intuit, blasting the company for its failure to answer basic questions the lawmakers asked in their January 2, 2024 letter seeking an accounting of the expenses underlying the company’s massive federal research tax breaks.
- In January 2024, Senators Warren, Blumenthal (D-Conn.), and Bernie Sanders (I-Vt.), and Representative Katie Porter (D-Calif.) sent a letter to Intuit requesting a full accounting of the expenses underlying the company’s massive federal research tax breaks by January 16, 2024. Intuit disclosed that it received $94 million in federal research tax credits in 2022, while simultaneously spending millions lobbying against the establishment of a free program for Americans to file their taxes online.
- In October 2023, Senators Warren, Ron Wyden (D-Ore.), Chair of the Senate Finance Committee, Blumenthal, Tammy Duckworth (D-Ill.), Sanders, Sheldon Whitehouse (D-R.I.), and Representative Porter sent letters to five tax preparation companies—H&R Block, TaxAct, TaxSlayer, Ramsey Solutions, and Intuit—that recently received notices of penalty offenses from the Federal Trade Commission (FTC) regarding the misuse of taxpayer’s sensitive and confidential information.
- In October 2023, Senators Warren and Patty Murray (D-Wash.), Chair of the Senate Appropriations Committee, and Representatives Porter, Brad Sherman (D-Calif.), and Don Beyer (D-Va.) released a statement supporting the U.S. Department of Treasury and the Internal Revenue Service (IRS) joint announcement of their 2024 pilot of Direct File, a program that allows Americans to file tax returns digitally and free of charge. The lawmakers acknowledged the Inflation Reduction Act’s role in the program’s development, and stated their intention to support the IRS’s efforts to develop and expand the Direct File pilot.
- In August 2023, Senator Warren and Representative Porter sent a letter to the Free File Alliance, the American Coalition for Taxpayer Rights, Intuit, and H&R Block admonishing the companies’ relentless lobbying against the Internal Revenue Service’s (IRS) direct free filing tool.
- In July 2023, Senators Warren, Wyden, Blumenthal, Duckworth, Sanders, and Whitehouse and Representative Porter released a report revealing the outrageous, extensive, and potentially illegal sharing of taxpayers’ sensitive personal and financial information with Meta by online tax preparation companies. The lawmakers also sent a letter to the IRS, the Treasury Inspector General for Tax Administration, the Federal Trade Commission, and the Department of Justice highlighting their key findings and calling on these departments to fully investigate this matter and prosecute any company or individuals who violated the law.
- In June 2023, Senators Warren and Tom Carper (D-Del.) and Representatives Sherman, Porter, and Beyer, led a coalition of 99 Democratic lawmakers in a letter to IRS Commissioner Daniel Werfel and Deputy Treasury Secretary Adewale Adeyemo, applauding the IRS’s announcement of a pilot of a free tax filing tool next year.
- In May 2023, Senator Warren’s call for a Free E-File Program was finally answered by the IRS through the Inflation Reduction Act .
- In April 2023, Senators Warren and Carper led 29 other senators in a letter to the IRS Commissioner, urging the agency to simplify the tax process and broaden access to free e-filing options.
- In April 2023, at a hearing of the Senate Finance Committee, Senator Warren questioned the IRS Commissioner about the agency’s failed Free-File partnership with private tax preparation software companies and called on the agency to implement a direct E-File program.
- In December 2022, Senators Warren and Wyden and Representatives Porter and Sherman sent letters to tax preparation companies H&R Block, TaxAct, and TaxSlayer, plus big tech firms Meta and Google, amid reports that the tax preparation companies have been secretly transmitting individual taxpayers’ sensitive financial information to Meta and Google
- In August 2022, Senator Warren highlighted key priorities she secured in the Senate’s Inflation Reduction Act, including establishing an IRS task force to look into developing and running an IRS-run free direct E-File tax return system, based on Senator Warren’s Tax Filing Simplification Act.
- In July 2022, Senator Warren led 22 lawmakers to introduce the Tax Filing Simplification Act of 2022, legislation that would direct the IRS to develop its own free online tax preparation and filing service that would simplify the tax filing process for millions of Americans.
- In June 2022, at a hearing of the Senate Finance Committee, Secretary of Treasury Janet Yellen agreed with Senator Warren on the need to create a free tax filing system that actually works for Americans.
- In June 2022, Senator Warren and Representatives Porter and Sherman sent a letter to Richard K. Delmar, Acting Treasury Department Inspector, General, J. Russell George, Treasury Inspector General for Tax Administration, and Andrew Katsaros, Acting Inspector General at the Federal Trade Commission, regarding troubling reports of Intuit’s abuse of the revolving door and the company’s hiring of former federal regulators and influence-peddlers to defend its shady business practices. In the letter, which is a follow up to the prior April 2022 letter, the lawmakers call out Intuit for forcing American taxpayers into paying for services that should be free, and request an in-depth investigation into the company and its use of the revolving door to influence policy decisions at those agencies.
- In April 2022, Senator Warren and Representatives Sherman and Porter sent a letter to Intuit regarding the company’s unethical use of the revolving door to hire former regulators to defend their shady business practices that scam taxpayers out of billions of dollars. In June 2022, the lawmakers sent a follow-up.
- In February 2022, Senator Warren and Representative Pramila Jayapal (D-Wash.) sent a letter to the Acting Inspector General of the Department of Treasury and the Treasury Inspector General for Tax Administration, calling on them to open an investigation into the unethical revolving door between the world’s largest accounting firms and the Treasury Department and IRS.
- In February 2022, Senator Warren made the case for increased funding for the Internal Revenue Service (IRS) through the Build Back Better Act and called on the administration to create the simplified filing tools proposed in her Tax Filing Simplification Act.
MIL OSI USA News –
February 15, 2025
MIL-OSI USA: Warren, Hirono Press Defense Secretary Hegseth on Cost and Military Readiness Impact of Deploying Troops to Southern Border, Guantanamo Bay
US Senate News:
Source: United States Senator for Massachusetts – Elizabeth Warren

February 14, 2025

“[DoD’s] new immigration operations — which the Trump administration is planning at an unprecedented scale — threaten to burden the Department’s resources and undermine our national security.”

Text of Letter (PDF)

Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Mazie Hirono (D-Hawaii) wrote to Secretary of Defense (DoD) Pete Hegseth regarding the military’s recent deployment of active-duty forces to the southern border and Guantanamo, and the Department of Defense’s (DOD) new involvement in immigration detention and deportation.

On his first day in office, President Trump signed an Executive Order directing the United States Northern Command (NORTHCOM) to “seal the borders” and “to provide steady-state southern border security.” On January 29, President Trump directed DoD to “expand the Migrant Operations Center at Naval Station Guantanamo Bay to full capacity” of 30,000. As a result, NORTHCOM has deployed about 2,000 active-duty troops to the southern border, bringing the total under DoD’s command to over 4,000. These deployments have drawn from numerous Army and Marine Corps units, and DoD has required the 10th Mountain Division from Fort Drum, New York to oversee the units. In the near term, the Trump administration is reportedly considering deploying up to 10,000 troops to the southern border — double the scale of DoD’s border deployment in 2019 and 2020. That number could grow; during President Trump’s first term, then-Secretary of Defense Mark Esper said Stephen Miller (now White House Deputy Chief of Staff) said that “[w]e need a quarter-million troops” at the southern border.

Following Immigration and Customs Enforcement’s (ICE) reversal of its policy prohibiting the use of military aircraft to deport migrants, DoD has operated over 10 deportation flights around the world. At Guantanamo, SOUTHCOM’s has deployed over 500 Marines and DoD has not ruled out detaining women and children there. A former Pentagon official estimates that these operations would “quickly skyrocket into tens of millions, if not hundreds of millions, of dollars.”

At a hearing of the Senate Armed Services Committee on February 13, 2025, Admiral Alvin Holsey, SOUTHCOM Commander, confirmed that the Pentagon does not have a cost estimate for these immigration operations, though the department is supposed to consider costs before deploying troops. At the same hearing, General Gregory Guillot, NORTHCOM Commander, told senators that only one training day has been set aside per week for deployed troops operating outside their specialties to maintain their skills, so troops are only doing 20% of relevant military training while deployed for immigration enforcement.

“[DoD’s] new immigration-related operations place significant — and unnecessary — burdens on DoD resources, personnel, and readiness,” wrote the senators.

The aircraft now used for deportations, for example, cost far more than the commercial and chartered flights that ICE normally uses for deportations. The new aircraft, the military C-17 plane, costs taxpayers over $28,000 per flight hour for a single deportation, compared to $8,577 per flight hour on civilian aircraft alternatives that ICE often uses. Similarly, ICE’s contract for Guantanamo’s migrant operations center requires it to pay a staggering $272,000 per detention bed, compared to around $57,00 per bed at ICE facilities within the United States.

DoD may not have a realistic estimate of how much these new operations will cost. During President Trump’s first term, when DoD deployed troops to the border between FY2018 and FY2020, the Department estimated that its border operations would total $1 billion in unreimbursed costs. The Government Accountability Office (GAO) later found that “DOD did not present reliable cost estimates.” Since then, DoD has not implemented any of GAO’s recommendations for improving how it estimates the cost of assisting DHS’s immigration operations.

DoD’s growing participation in DHS immigration operations will pose serious costs for units’ readiness. The Defense Secretary discontinued part of DoD’s border operations between 2018 and 2020 after finding that “continued support for the mission would negatively affect military readiness and morale.” The commandant of the Marine Corps warned at the time that the operation posed an “unacceptable risk to Marine Corps combat readiness and solvency,” as a result of separated units and canceled training exercises.

“Likewise, we are concerned about how these operations may impact servicemembers’ morale. In recent years, DoD personnel who deployed to the border have reported dangerously low morale, driven by an unclear mission, isolation, boredom, poor accommodations, and more,” wrote the lawmakers. “Poor morale even contributed to a series of suicides by members of the Texas National Guard who deployed to the southern border.”

“(T)he Trump administration is militarizing the country’s immigration enforcement system in an apparent attempt to signal toughness. But this political stunt will come at a high cost; it risks diverting DoD’s resources away from its vital mission in ways that compromise our national security,” the senators concluded.

The senators requested that DoD provide more clarity about troop deployment to the border and anticipated costs by February 27, 2025.

Senator Warren has sought to protect military resources and prevent unnecessary costs that compromise national security:
- In December 2024, Senators Elizabeth Warren, Josh Hawley (R-Mo.), and Jeff Merkley (D-Ore.) wrote to the leaders of each of the top 10 U.S. automakers with concerns about the companies’ fierce opposition to car owners’ right to repair the vehicles they own in the way they choose.
- In December 2024, Senator Elizabeth Warren and Representative Marie Gluesenkamp Perez (D-Wash.) introduced the Servicemember Right-to-Repair Act to increase military readiness and cut costs by allowing servicemembers to repair their own equipment.
- In December 2024, Senator Elizabeth Warren wrote to the Department of Defense with continued concerns about DoD’s failure to prevent price gouging and overpayments in the military’s TRICARE health program. DoD’s response to Senator Warren’s July 2023 letter revealed a list of nearly 250 bad actors who have overcharged our military by nearly $46 million, which the Senator released today.
- In June 2024, Senators Elizabeth Warren, Mike Rounds (R-S.D.), Peter Welch (D-Vt.), U.S. Representative Buddy Carter (R-Ga.), and 20 other lawmakers sent a letter to Assistant Secretary of Defense for Health Affairs Dr. Lester Martinez-Lopez and Director of the Defense Health Agency (DHA) Lieutenant General Telita Crosland, raising concerns over Express Scripts’ exclusive contract to administer TRICARE’s pharmacy program, the healthcare system for the military, retirees, and their families.
- In July 2023, U.S. Senator Elizabeth Warren chaired a hearing of the Senate Armed Services Subcommittee on Personnel. She called out the Department of Defense (DoD) for wasting billions in taxpayers dollars due to price gouging by defense contractors for services and in health care, and identified opportunities for cost savings when DoD buys personnel-related goods and services.
- In July 2023, U.S. Senator Elizabeth Warren (D-Mass.) sent a letter to Secretary of Defense Lloyd J. Austin III and Director of the Defense Health Agency (DHA), Lieutenant General Telita Crosland, regarding a series of DoD Inspector General (IG) reports finding that the Department of Defense (DoD) is failing to prevent price gouging and overpayments to contractors in the TRICARE health program.
- In June 2023, Senators Warren and Mike Braun (R-Ind.), alongside Rep. Garamendi, reintroduced the bipartisan Stop Price Gouging the Military Act, which would close loopholes in current acquisition laws, tie financial incentives for contractors to performance, and provide the Department of Defense (DoD) the information necessary to prevent future rip-offs.
- In May 2023, Senator Warren and Representative John Garamendi sent letters to DoD, Boeing, and TransDigm on companies’ refusal to provide cost or pricing data.
- In May 2023, Senators Warren, Sanders, Braun, and Grassley sent a letter to DoD urging an investigation into contractor price gouging.
- In October 2022, Senator Warren obtained a commitment from DoD not to increase contract prices due to inflation.
- In October 2022 Senator Warren sent a letter to DoD urging them to insist on receiving certified cost or pricing data to justify any contract adjustments.
- In June 2022, Senator Warren and Representative Garamendi introduced the bicameral Stop Price Gouging the Military Act, which would enhance DoD’s ability to access certified cost and pricing data. Part of Senator Warren’s legislation was incorporated into the FY 2023 National Defense Authorization Act reported to the Senate.
- In September 2020, Senator Warren and Representative Ro Khanna (D-Calif.) formally requested that the Department of Defense (DoD) Inspector General (IG) investigate reports that the Pentagon redirected hundreds of millions of dollars of funds meant for COVID-19 response via the Defense Production Act (DPA) to defense contractors for “jet engine parts, body armor and dress uniforms.”
- In May 2020, Senator Warren wrote to the Department requesting clarification on how the Department would prevent profiteering following a recent change to increase payments to contractors in response to the COVID-19 pandemic.
- In March 2020, Senator Warren joined her colleagues in urging the FTC to use its full authority to prevent abusive price gouging on consumer health products during the COVID-19 pandemic.
- In April 2019, Senator Elizabeth Warren, along with Senator Jack Reed (D-R.I.), Ranking Member of the Senate Armed Services Committee, and four other members of the Armed Services Committee, wrote to then-Acting Secretary of Defense Patrick Shanahan to seek clarification about statements made by Department of Defense officials about the deployment of military personnel to the southwest border and assurances that this deployment would not negatively affect military readiness.
- In November 2018, Senator Warren, along with Representative Jackie Speier (D-Calif.), then-Chairwoman of the Military Personnel Subcommittee of the House Armed Services Committee, and former Representative Beto O’Rourke (D-Texas), sent a bicameral letter to then-Secretary of Defense James Mattis requesting information about President Trump’s decision to deploy more than 5,000 active duty military personnel to the southwest border.
- In May 2017, Senator Warren sent a letter to the Department of Defense Inspector General asking for an investigation into defense contractor TransDigm’s refusal to provide cost information to the Department of Defense.
MIL OSI USA News –
February 15, 2025
MIL-OSI USA: Tuberville Calls for Permanent Repeal of the Death Tax

US Senate News:

Source: United States Senator Tommy Tuberville (Alabama)

WASHINGTON – Yesterday, U.S. Senator Tommy Tuberville (R-AL) joined U.S. Senator John Thune (R-SD) in reintroducing legislation that would permanently repeal the federal estate tax, commonly known as the death tax. The Death Tax Repeal Act would end this purely punitive tax that can hit family-run farms, ranches, and businesses as the result of the owner’s death. Sen. Tuberville has helped introduce this legislation in both the 117^th and 118^th congresses.

“The Death Tax destroys American jobs by stifling profitable businesses that employ hardworking Americans,” said Senator Tuberville. “Our government should be focused on creating an economic environment that preserves small businesses and family farms, instead of taxing them out of operation. I will keep pushing for policies that incentivize our next generation of farmers and business owners, so that we can continue to rely on their contributions for a strong economy.”

“Family farms and ranches play a vital role in our economy and are the lifeblood of rural communities in South Dakota,” said Senator Thune. “Losing even one of them to the death tax is one too many. It’s time to put an end to this punishing, burdensome tax once and for all so that family farms, ranches and small businesses can grow and thrive without costly estate planning or massive tax burdens that can threaten their viability.”

Senators Tuberville and Thune are joined by U.S. Sens. Jim Banks (R-IN), John Barrasso (R-WY), Marsha Blackburn (R-TN), John Boozman (R-AR), Katie Britt (R-AL), Ted Budd (R-NC), Shelley Moore Capito (R-WV), John Cornyn (R-TX), Tom Cotton (R-AR), Kevin Cramer (R-ND), Mike Crapo (R-ID), Ted Cruz (R-TX), John Curtis (R-UT), Steve Daines (R-MT), Joni Ernst (R-IA), Deb Fischer (R-NE), Lindsey Graham (R-SC), Chuck Grassley (R-IA), Bill Hagerty (R-TN), Josh Hawley (R-MO), John Hoeven (R-ND), Cindy Hyde-Smith (R-MS), Ron Johnson (R-WI), Jim Justice (R-WV), John Kennedy (R-LA), James Lankford (R-OK), Mike Lee (R-UT), Cynthia Lummis (R-WY), Roger Marshall (R-KS), Mitch McConnell (R-KY), Dave McCormick (R-PA), Jerry Moran (R-KS), Bernie Moreno (R-OH), Markwayne Mullin (R-OK), Pete Ricketts (R-NE), Jim Risch (R-ID), Mike Rounds (R-SD), Eric Schmitt (R-MO), Rick Scott (R-FL), Tim Scott (R-SC), Tim Sheehy (R-MT), Thom Tillis (R-NC), Roger Wicker (R-MS), and Todd Young (R-IN) in cosponsoring the legislation.

Companion legislation was introduced in the U.S. House of Representatives by Rep. Randy Feenstra (R-IA-04).

Read full text of the legislation here.

BACKGROUND:

The Senate attempted to repeal the estate tax while Congress considered the Tax Cuts and Jobs Act (TCJA) in 2017. Although the final version of the TCJA did not repeal the death tax, the law effectively doubled the individual estate and gift tax exclusion to $10 million (approximately $13.9 million in 2025 dollars) through 2025, which prevents more families and generationally owned businesses from being affected by this tax. The increased exclusion expires at the end of 2025, which increases uncertainty and planning costs for family-owned businesses, farms, and ranches.

MORE:

ICYMI: Tuberville in Yellowhammer News: “Protect family farmers by repealing the death tax”
Tuberville Pushes to Permanently Repeal the Death Tax
Tuberville Joins Effort to Permanently Repeal the Death Tax

Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.

MIL OSI USA News –

February 15, 2025
MIL-OSI United Kingdom: Remarks made by Technology Secretary Peter Kyle at the Munich Security Conference
Source: United Kingdom – Executive Government & Departments

Technology Secretary Peter Kyle spoke about the the UK’s approach to the responsible development of artificial intelligence at the Munich Security Conference.
Innovation is defined by its ability to surprise.

Only a few years ago, GPT-2 meant nothing to the public.

For many of us, AI felt like a distant possibility at best.

Something that would never – could never – live up to the hype.

And yet, overnight, ChatGPT became a household name.

It unleashed an unprecedented wave of technological change.

And the pace of progress shows no signs of slowing down.

With DeepSeek, we’ve just seen once again just how sudden, how unpredictable, innovation can be.

The AI revolution is happening.

Ignoring it is simply not an option.

In the UK, we reject the doomsayers and the pessimists.

Because we are optimistic about the extraordinary potential of this technology.

And hopeful for the radical, far-reaching change it will bring.

We launched the AI Opportunities Action Plan to put us on the front foot.

Working in collaboration with our international partners, we’re going to create one of the biggest clusters of AI innovation in the world and deliver a new era of prosperity and wealth creation for our country.

This is a once-in-a-generation opportunity.

If we can seize it, we will close the door on a decade of slow growth and stagnant productivity.

Of taxes that are just too high.

We will deliver new jobs that put more money in working people’s pockets.

And we will drive forward a digital revolution inside government to make our state smaller, smarter, and more efficient.

But none of that is possible unless we can mitigate its risks that AI presents.

After all, businesses will only use these technologies if they can trust them.

Security and innovation go hand in hand.

AI is a powerful tool and powerful tools can be misused.

State-sponsored hackers are using AI to write malicious code and identify system vulnerabilities, increasing the sophistication and efficiency of their attacks.

Criminals are using AI deepfakes to assist in fraud, breaching security by impersonating officials.

Last year, attackers used live deepfake technology during a video call to mimic bank officials.

They stole $25 million.

And now we are seeing instances of people using AI to assist them in planning violent and harmful acts.

These aren’t distant possibilities.

They are real, tangible harms, happening right now.

The implications for our people could be pervasive and profound.

In the UK, we have built the largest team in a government dedicated to understanding AI capabilities and risks in the world.

That work is rooted in the strength of our partnerships with the companies who are right at the frontier of AI.

Working with those companies, the government can conduct scientifically informed tests to understand new AI capabilities and the risks they pose.

Make no mistake, I’m talking about risks to our people, their way of life, and the sovereignty and stability which underpins it.

That is why today, I am renaming our AI Safety Institute as the AI Security Institute.

This change brings us into line with what most people would expect an Institute like this to be doing.

They are not looking into freedom of speech.

They are not deciding what counts as bias or discrimination.

They are not politicians – nor should they be.

They are scientists – scientists who are squarely focused on rigorous research into the most serious emerging risks.

They are researching AI’s potential to assist with the development of chemical and biological weapons.

They are building on the expertise of our National Cyber Security Centre (NCSC) to understand how this technology could be used to help malicious actors commit cyber-attacks.

They want to understand how AI could undermine human control.

Our research shows that those risks are clear:

There has been a clear upward trend in AI system capabilities most relevant to national security in the past 18 months.

For the first time last year, AI models demonstrated PhD-level performance on chemistry and biology question sets.

The safeguards designed to prevent these models doing harm are not currently sufficient.

Every model tested by the Institute is vulnerable to safeguard evasion attacks.

And it is almost certain that these capabilities will continue to improve, while novel risks will emerge from systems acting as autonomous agents to complete tasks with only limited human instruction. 

The more we understand these risks, the better we can work with companies to address them.

And the faster we can keep our nation safe, the faster our people can embrace the potential of AI to create wealth and improve their lives.

There are certain security risks which require immediate action.

That is why the Security Institute will collaborate with the Defence Science and Technology Laboratory, the Ministry of Defence’s science and technology organisation, to assess the dual-use scientific capabilities of frontier AI.

Today, we are also launching a criminal misuse team in the Security Institute, who will partner directly with the Home Office to conduct research on a range of crime and security issues which threaten to harm our citizens.

Earlier this month, the UK set out plans to make it illegal to own AI tools optimised to make images of child sexual abuse.

Reports of AI-generated child sexual abuse material found online by the Internet Watch Foundation have quadrupled in a single year.

The Security Institute will work with the Home Office to explore what more we can do to prevent abusers using AI to commit their sickening crimes.

A security risk is a security risk, no matter where it comes from.

US companies have shown the lead in taking security risks seriously.

But we need to scrutinise all models regardless of their jurisdiction of origin.

So I’ve instructed the Security Institute to take a leading role in testing AI models wherever they come from, open or closed.

While we can’t discuss these results publicly, we will share them with our allies.

We are alive to the security risks of today.

But we need to focus on tomorrow, too, and the day after that.

We are now seeing the glimmers of AI agents that can act autonomously, of their own accord.

The 2025 International AI Safety Report, led by Yoshua Bengio, warns us that – without the checks and balances of people directing them – we must consider the possibility that risks won’t just come from malicious actors misusing AI models, but from the models themselves.

We don’t yet know the full extent of these risks.

However, as we deploy AI across our economy, our society, and the critical infrastructure that keeps our nation secure, we cannot afford to ignore them.

Because losing oversight and control of advanced AI systems, particularly Artificial General Intelligence (AGI), would be catastrophic.

It must be avoided at all costs.

I want to be clear exactly what this testing is, and what it’s not.

It’s not a barrier to market access. Not a blocker to innovation.

It is urgent scientific work to understand serious risks to our country.

Governments are not passive bystanders in the AI revolution.

We have agency in how AI shapes our society.

And we have a responsibility to use that agency to defend our democratic way of life.

Only countries with a deep and knowing understanding of this technology will be able to build the capacity they need to deliver for their citizens in the twenty-first century.

But success is not a given.

It depends on the democratic world rallying together to maintain our leadership in AI.

Together, we can protect our fundamental values – freedom, openness, and opportunity.

If we do that, we won’t just keep our people safe.

We will ensure that they are first to benefit from the new era of wealth and prosperity which AI will bring.

Updates to this page

Published 14 February 2025
MIL OSI United Kingdom –
February 15, 2025
MIL-OSI Russia: An expert from the Rosmolodezh. Grants system told students how to get up to a million rubles to implement their project

Translartion. Region: Russians Fedetion –

Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Olga Chesnova

“Rosmolodezh. Grants” is a unique federal service for young people that helps support social initiatives and implement them. Olga Chesnova, an expert of “Rosmolodezh. Grants”, head of the Center for Project and Festival Activities of the St. Petersburg State Institute of Cinema and Television, told students how to become grant recipients.

“The Federal Agency for Youth Affairs implements “Rosmolodezh. Grants” – a system of state support for youth project activities with a grant fund of 2.5 billion rubles, with 50 grant sites and 18 nominations. Citizens aged 14 to 35 who have presented their social projects can take part in the implementation of grants. Social projects provide for a fairly wide range of topics. One of the most popular nominations is

She explained the participation algorithms: young people develop projects, create teams and send applications, which are assessed by the expert community using a point system. Participants who score the highest number of points become grant recipients.

“In addition to the financial opportunity to implement the project, grant recipients gain valuable experience in promoting their ideas and finding like-minded people, which, in turn, increases their chances of receiving new grants, including for larger amounts. By the end of February, we plan to announce another competition. In March, we expect to announce a competition for universities, where applications will be accepted from universities as legal entities, and there will be more serious amounts. Each year, another nomination is added to the nominations related to the theme of the year. So, in the Year of the Family there was a nomination “Relatives and Beloved”, this year it should be patriotic. I advise participants who are applying for the first time to choose a topic that is most familiar and close to them, and it is better to focus on a project where there is already a reserve. For example, if you are a master of sports, have experience in this area, are passionate about this topic, choose it. This is important for success,” advised Olga Chesnova.

Vice-Rector for Youth Policy at SPbGASU Marina Malyutina emphasized that our university has many talented students who have cool ideas and projects, but for some reason they have not yet applied for a grant. “Grants are a good way to self-realization and a way to receive funding for the implementation of a project, an opportunity to attract partners. I have studied the projects of grant recipients of previous years and I want to wish you to be bolder, because your projects and ideas are not only no less, but perhaps even more interesting. Therefore, the chances of winning are high,” she noted.

First-year student of the Automobile and Road Engineering Faculty Sofya Parfyonova said that she and her associates intend to apply for a grant for the project “Fidget Football”. According to her, this team sport, which harmoniously combines eSports and traditional sports, is gaining popularity today.

“Fidget football will allow our university to diversify student sports life and attract even more students to physical activity. We plan to use the grant funds to purchase special equipment and computers. I believe that Rosmolodezh. Grants is a great opportunity to implement a lot of initiatives, so we are already working on other ideas for participation in the next competition. And they are also aimed at promoting new sports among students,” said Sofya.

First-year student of the construction faculty Arseniy Kukhi, having studied the conditions for receiving a grant and the application procedure, confidently says that it is much easier than in the case of other grants.

“But what you need to think about is the idea of the project, and this is much more difficult. I looked at numerous projects of grant recipients and saw that almost all the problematic topics that lie on the surface have already been declared. Therefore, you need to look for more in-depth topics. I am a member of the student media center, perhaps I will focus on this direction, but I do not rule out that I will also work on my new project,” said Arseniy.

Anna Kozhemyak, a second-year student at the construction faculty, admits that she has been a member of Rosmolodezh associations for quite a long time; she is interested in this movement. Last March, she attended the World Youth Festival in Sochi.

“I have been thinking about the idea of getting and implementing a grant for a long time, but I am currently looking for a specific topic that would be significant not only for the university, but also useful for the city’s youth. Now I am interested in traveling, because I love it myself and would like to involve my friends in it. My project should include excursions, exchange of cultural or professional experience among young people,” Anna shared.

Deputy Head of the Youth Policy Department of SPbGASU Ekaterina Kovalenko noted that the university has created all the conditions to help students both in developing projects and in submitting applications. A Telegram channel has been created to inform students about these opportunities #Netolokopars. For consultation and support, please contact office No. 135. We would like to add that Ekaterina Kovalenko is herself a recipient of such grants and can share her personal knowledge and experience.

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.

MIL OSI Russia News –

February 15, 2025
MIL-OSI Canada: Alberta welcomes the best of women’s hockey
Since its debut over a year ago, the Professional Women’s Hockey League (PWHL) has seen tremendous success, breaking attendance records and selling out arenas across North America. The next stop of the PWHL’s neutral-ground Takeover Tour will be in Edmonton, where two Canadian teams will battle at Rogers Place, the heart of Edmonton’s world-renowned Ice District.

The hype around the PWHL proves the growing demand for women’s hockey and increasing support for professional women’s sport. Alberta’s government staunchly supports women’s sports, working to remove barriers women face and increase participation in sport and recreation. Each year, Alberta’s government commits $18 million to increase access to sport and recreation through the Every Kid Can Play program and Active Communities Initiative, as well as more than $50,000 to support women in sport leadership – helping Albertan women thrive, both on and off the ice.

“Alberta’s government is thrilled to welcome the PWHL to our capital city. Hockey runs deep in Alberta, and we couldn’t be more proud to have the world’s best women’s hockey players compete here. Sunday’s game is about more than hockey – it’s about showing girls across the province that there is not only space for them in sport, but that their dreams are within reach, and the entire province is rooting for them.”

Joseph Schow, Minister of Tourism and Sport

Sunday’s much-anticipated game is the direct result of conversations had during Minister Schow’s mission to New York this past fall, and will draw a sold-out crowd, injecting millions into the local economy as visitors book accommodations, eat at restaurants and shop at local businesses. As the PWHL continues to build its audience and consider expansion, Sunday’s game will highlight Alberta as a premier destination, with world-class sport infrastructure and the world’s best hockey fans.

“The support from Edmonton and the Alberta hockey community leading up to our PWHL Takeover Tour game has been incredible. We’re thankful for the partnership with local leaders, who have been instrumental in bringing our world-class players to Edmonton, and we look forward to an unforgettable weekend, capped by our Feb. 16 game.”

Amy Scheer, executive vice-president of Business Operations, PWHL

Sunday’s game will give four Albertan players the opportunity to play in front of a hometown crowd. This includes Ottawa Charge forward Danielle Serdachny, the second overall pick in the 2024 draft, along with her teammates: defender Stephanie Markowski from Edmonton and goaltender Emerance Maschmeyer from Bruderheim. Also featured in the game are Ottawa head coach Carla McLeod, from Spruce Grove, and Calgary’s Jessica Kondas, a defender for the Toronto Sceptres.

“Explore Edmonton is proud to celebrate women’s hockey with the first ever PWHL game in Edmonton, where hockey culture thrives and is supported by the best fans. There is strength in partnership, and we are glad to work alongside the event partners and funders to bring the community together to continue our hockey legacy and support women-in-sport.”

Traci Bednard, president and CEO, Explore Edmonton

Related information
- PWHL Takeover Tour
Related news
- Promoting Alberta tourism in New York City (Sept. 20, 2024)
MIL OSI Canada News –
February 15, 2025
MIL-OSI: STEALTHGAS INC. Announces the Date for the Release of the Fourth Quarter and Twelve Months 2024 Financial and Operating Results, Conference Call and Webcast

Source: GlobeNewswire (MIL-OSI)

ATHENS, Greece, Feb. 14, 2025 (GLOBE NEWSWIRE) — STEALTHGAS INC. (NASDAQ: GASS) (the “Company”), a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today that it will release its fourth quarter operating and financial results for the period ended December 31, 2024 before the market opens in New York on February 21, 2025.

On February 21, 2025 at 10:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations and outlook.

Conference Call details: Conference call participants should pre-register using the below link to receive the dial-in numbers and a personal PIN, which are required to access the conference call.

Online Registration:
https://register.vevent.com/register/BIa607c71e1abf4ac08816dfc43bd8d733

Slides and audio webcast:
There will also be a live and then archived webcast of the conference call, through the STEALTHGAS INC. website (www.stealthgas.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

About STEALTHGAS INC.
StealthGas Inc. is a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry. StealthGas Inc.’s fleet consists of fully pressurised, semi refrigerated and fully refrigerated vessels. StealthGas Inc.’s shares are listed on the Nasdaq Global Select Market and trade under the symbol “GASS.”

Visit our website at www.stealthgas.com

The MIL Network –

February 15, 2025
MIL-OSI Global: White Lotus does Thailand dirty

Source: The Conversation – UK – By Andrew Russell, Lecturer, Faculty of Creative & Cultural Industries, University of Portsmouth

Did you hear? There’s been another murder at a White Lotus hotel, this time the one in Thailand.

Back for its third season, Mike White’s critically acclaimed and Emmy award-winning tragi-comedy series follows the terrible exploits of the White Lotus’s rich, primarily white holidaymakers, alongside the local employees.

There is social satire, a lot of drama and always a death in paradise. In the first season there was death in Hawaii; the second in Sicily, Italy, and now, in the third, there’s death in Koh Samui.

As someone who has researched on screen representations of Thailand I was intrigued to see how the show handled this locale. Disappointingly, the exoticness and beauty of Thailand is foregrounded, as is the mysticism of Buddhism.

The series follows four groups of people, the majority of whom the audience are made to feel repulsed by in some way.

The first is the Ratliff family. There’s father, Timothy (Jason Isaacs) who works in finance and mother, Victoria (Parker Posey), whose anxiety means she is heavily medicated and constantly falling asleep. Then the kids: daughter, Piper (Sarah Catherine Hook) who is studying Buddhism; son Lochlan (Sam Nivola) who has poor posture from being glued to his computer; and Saxon (Patrick Schwarzenegger), the eldest of the three, whose primary focus is having sex.

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The second group is three middle-aged women who are on a “girls’ holiday” who abandon their inhibitions as the series progresses. They are routinely referred to as cougars by Saxon. Then there is odd couple Chelsea (Aimee Lou Wood) and her older partner Rick (Walton Goggins), who seem to be going through a rocky patch.

The one likeable person, Belinda (Natasha Rothwell), is a character previously seen working in the spa in the first season’s Hawaiian resort. She’s in Thailand on a research trip for her own wellbeing business.

Terrible people

As with previous series, the ignorance of the holidaymakers is clear. Thailand is referred to as Taiwan. Piper is told by her mother that she can’t possibly be a Buddhist because she isn’t Chinese. The stereotype of the older, rich, bald white male – referred to here as LBHs (losers back home) – who retires to Thailand with a much younger wife is hammered home in various episodes.

Through these guests’ continued cultural ignorance and insensitivity, the few Thai characters we are introduced to are subservient and constantly smiling, always there to please. There’s never a sense of disgust at the exploits of the rich white customers. They are voiceless and for the most part, absent.

Belinda, the only black character, is also the only one who converses in any meaningful way with a Thai person. The only sort of story that gives any space to Thai characters is about a blossoming love between the security guard Gaitok (Tayme Thapthimthong) and health expert Mook (Lalisa Manoban), but this is sidelined.

There is a clear cultural, economic and racial split presented, one that fails to allow any Thai character the ability to air their criticisms of the guests or to be developed in a meaningful way. In the main, the focus is on whiteness – a criticism previous series have also garnered.

An imaginary Thailand

All these facets together create a version of Thailand that is seen through the lens of orientalism. This is a western way of looking at non-western places as full of mysticism, eroticism and exoticness, where nothing normal occurs.

This lens is foregrounded by characters constantly saying things like: “Thailand is full of people either looking for something or hiding from something”, and “Whatever happens in Thailand, stays in Thailand”.

There is a constant flow of alcohol, and drugs can be procured away from the resort. Incest is even hinted at in the first few episodes as the audience are shown Lochlan gazing upon the naked body of his brother. The country is portrayed as a playground for white debauchery, where anything goes – much like in The Hangover part II (2011), a trope I have written about in my research.

The link to orientalism is further enhanced by the way in which Thai religion is shown as being mystical. Anytime a character engages in a spiritual practice it is accompanied by a tinkling score indicating something otherworldly is occurring. This isn’t limited to Western characters. When Gaitok, makes an offering at a shrine the visuals are presented in slow motion as candlelight flickers with a mythical aura pervading.

The previous seasons have seen a boom in travel to filming locations in Sicily and Hawaii, driven by their onscreen depictions), and this season’s Thailand setting will likely lead to the same.

The landscape is a constant focal point, exemplifying the British sociologist John Urry’s theory of the “tourist gaze”. Exotic portions of the landscape are lingered upon, from the jungle and palm trees to ocean vistas. Monkeys are continuously seen, alongside other “exotic” creatures.

This is a recurring trait seen in Hollywood films set in Thailand, from Anna and the King of Siam (1946) to The Impossible (2012), situating it purely as an exotic locale.

This series uses iconic tourist locations, such as the Buddhist temple Wat Pho which forms the background for a conversation in one scene. Also, what appears to be the Phi Phi Islands, known for their pristine beaches and clear waters, drift past during a luxury yacht trip. Sadly, Thailand in this series is reduced to a digestible set of iconic images for the audience.

White Lotus engages in a double game. The series is clearly critical of the characters, presenting lifestyle and holidays as desirable and aspirational, all the while reinforcing antiquated orientalist stereotypes itself. You would hope a show trying to show the evils of a certain kind of tourism wouldn’t also be guilty of the thing it’s attempting to lampoon.

Andrew Russell does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. White Lotus does Thailand dirty – https://theconversation.com/white-lotus-does-thailand-dirty-249812

MIL OSI – Global Reports –

February 15, 2025
MIL-OSI Canada: 2025 minimum wage increases confirmed

Source: Government of Canada regional news

B.C.’s lowest-paid workers will see a 2.6% wage increase on June 1, 2025, keeping pace with inflation.

The general minimum wage increases from $17.40 to $17.85 per hour. This follows the changes made in spring 2024 to the Employment Standards Act, which mandated annual wage increases.

“Minimum wage earners are vulnerable to jumps in the price of groceries, rent and gas,” said Jennifer Whiteside, Minister of Labour. “That’s why we took action last year to ensure the minimum wage keeps up with the cost of living so workers don’t fall further behind.”

Minimum wage rates for residential caretakers, live-in home-support workers, camp leaders and app-based ride-hailing and delivery services workers will receive the same 2.6% increase on June 1. On Dec. 31, 2025, the minimum piece rates for 15 hand-harvested crops will also increase by the same percentage.

“Making minimum wage, I know how important this increase is for workers,” said Olivia Brand, who works at the Burquitlam Liquor Store in Coquitlam. “It’s vital for government to continue to raise the minimum wage in line with inflation because it helps workers like me cover everyday expenses more easily and it shows us our hard work is valued.”

The minimum wage rates increase on June 1 of each year, except for the minimum agricultural piece rates that increase on Dec. 31 of each year to ensure crop producers will not have to adjust wages in the middle of the harvesting season.

The changes align with government priorities to help lift more people out of poverty, make life more affordable, and build a strong and fair economy for B.C.

Quotes:

Philip Aguirre, owner of Old Surrey Restaurant, and executive director of the Newton Business Improvement Association –

“Supporting workers is crucial for the success of my business. When my employees are paid a fair minimum wage, they feel appreciated and that translates into a more positive work environment. It also leads to higher efficiency and lower turnover, two things every business owner strives for.”

Fred Soofi, former employer, Pasta Polo, Coquitlam –

“As a small-business owner for the past 40 years, whenever the government increases the minimum wage, I have always been supportive. I firmly believe it benefits businesses by increasing the productivity and morale of employees. I appreciate our government in B.C. implementing annual minimum wage increases, which are going to help workers and families with the high cost of living we are facing at the present time.”

Learn More:

For more information about B.C.’s minimum wage, visit: https://www2.gov.bc.ca/gov/content/employment-business/employment-standards-advice/employment-standards/wages/minimum-wage

For more information about TogetherBC, B.C.’s poverty-reduction strategy, visit: https://www2.gov.bc.ca/assets/gov/british-columbians-our-governments/initiatives-plans-strategies/poverty-reduction-strategy/togetherbc.pdf

For more information about B.C. legislation, visit: https://strongerbc.gov.bc.ca/Legislation

A backgrounder follows.

MIL OSI Canada News –

February 15, 2025
MIL-OSI: ICBA and First Federal Savings Bank: How Relationship Banking Funds Local Prosperity
Source: GlobeNewswire (MIL-OSI)

EVANSVILLE, Ind., Feb. 14, 2025 (GLOBE NEWSWIRE) — First Federal Savings Bank and Independent Community Bankers of America® (ICBA) are reminding consumers that banking locally is an investment in the community and creates a lifelong relationship with a hometown lender with community ties and a vested interest in their customers’ financial success.

“At First Federal Savings Bank, we believe that banking is about more than transactions – it’s about relationships and giving back to the place we call home. Thank you for being part of our story. We pledge to continue supporting local initiatives, investing in our neighbors, and making a positive difference together,” said Courtney Schmitt, VP, Marketing Manager.

Community banks are financial stewards of their communities, funding more than 60 percent of small businesses, more than 80 percent of agricultural loans, and helping local families finance major purchases and build financial security. Community banks:
- Respect and honor community ties by channeling loans to neighborhoods where their depositors live and work, which helps drive the local economy.
- Are relationship lenders, taking a holistic approach to lending to consider numerous data sources, including credit history and discretionary spending.
- Understand and embrace local businesses. The Federal Reserve has repeatedly found that small businesses that apply for loans with community banks are more successful and satisfied.
- Are innovative, partnering with technology providers (as showcased through ICBA’s Innovation initiatives), to deliver high-tech, high-touch experiences.
- Give back. Serving local communities is a part of the community bank tradition, as reflected in ICBA’s National Community Bank Service Awards.
“Community banks are motivated to provide support through every phase of your financial journey, building a reputation as relationship lenders,” ICBA President and CEO Rebeca Romero Rainey said. “ICBA is proud to represent the nation’s community bankers who are not only committed to empowering their customers to succeed financially but also to strengthening the communities they serve.”

For more information about community banks and to find one of First Federal’s local branches, visit banklocally.org. Join the conversation on social media with the hashtag #BankLocally.

About First Federal Savings Bank Member FDIC

First Federal Savings Bank was established on Evansville, Indiana’s Westside in 1904. A community bank offering eight locations in Posey, Vanderburgh, Warrick, and Henderson County. First Federal Savings Bank is also proud to offer Home Building Savings Bank locations in Daviess and Pike County.

About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

The MIL Network –
February 15, 2025
MIL-OSI Africa: Kenya relies on USaid famine warning system – what happens now that it’s gone?
Source: The Conversation – Africa – By Timothy Njagi Njeru, Research Fellow, Tegemeo Institute, Egerton University

Famine Early Warning Systems Network (Fews Net), a web-based platform for predicting famine, went offline on 30 January 2025. The system had provided up-to-date data to predict and track food insecurity in nearly 30 countries in Africa, central America and Asia for 40 years. It was funded by the US Agency for International Development (USAid). It went offline following USAid’s shutdown by the new US administration.

In Kenya, Fews Net worked with the National Drought Management Agency and the Kenya Food Security Steering Group to develop regular outlook reports at national and county levels. Timothy Njagi Njeru, an agricultural economist who researches food security and emergency responses, explains what Fews Net’s abrupt departure portends for Kenya.

What are the highlights of the network’s work in Kenya?

The famine early warning network provided data and interpretation to shape decisions on food insecurity in Kenya. The Kenyan pages on the web platform – which has gone dark – included:
- an outlook for crop production based on climate data and extreme weather events
- a standardised measure of food insecurity that helped governments prioritise their responses
- a forecast of potential food crises using climate, economic and conflict data.
Fews Net was launched in response to devastating famines in east and west Africa in the mid-1980s. Its main objective was to gather and analyse data to help governments avert food security crises.

This evolved to support other critical areas that affected food security. For example, in the beginning, the network used weather information to generate forecasts on food crises. In time, it also collected price data and trade data, especially on staple commodities, to inform market stabilisation policies. And it tracked climate adaptation strategies.

Its work helped highlight the regions vulnerable to food insecurity, assessed the support these communities got and tracked the effects of weather variability.

In Kenya, the network worked with the Kenya Food Security Steering Group, which is made up of government, multilateral and non-profit agencies. The National Drought Management Authority, Kenya Meteorological Department and Kenya National Bureau of Statistics are in the group. So are the ministries of agriculture, health, water and education, and county governments. Development partners such as the Food and Agriculture Organization (FAO) and Unicef, and civil society organisations, such as the World Food Program and World Vision, are also members.

Their work was published in regular Food and Nutrition Security Assessments.

Fews Net also provided country and county-level briefs. These provided updates on the scale of food insecurity and assistance provided to these regions. They contained forecasts of crop and livestock production. They provided analyses of food trade, price trends, conflict incidences, and performance of assistance programmes. The forecasts helped generate recommendations for specific regions.

All this data was critical for market intelligence and developing value chains. It helped stakeholders make decisions about services, infrastructure support and demand or supply.

What difference has it made?

The Famine Early Warning Systems Network made a huge contribution to Kenya and the region as a whole. The seasonal food security forecasts enabled governments and development partners to respond to crises adequately and in a coordinated manner.

The network’s analytics on price trends and food trade proved very useful in overcoming obstacles to food trade. These included information asymmetry on demand and supply trends. The analytics also highlighted where infrastructural or security challenges might affect the flow of food from surplus to deficit areas. This equipped the government and stakeholders with the information to respond appropriately.

The analytics on household data provided information on household income, food availability and mechanisms to cope with food shocks. This informs government and others about local communities’ capacity to respond to shocks.

The tracking of local market price data informed policy responses, such as livestock offtake programmes at the height of drought or famines. Offtake programmes provide a ready market for families grappling with drought. They enable them to sell their cattle before incurring losses caused by livestock deaths during drought seasons. These programmes help communities enhance their market participation and reduce losses as they are able to sell their livestock at fair prices.

What gaps will its absence create?

The absence of the early warning network will affect Kenya’s ability to address food insecurity. It leaves a gap in financial and technical capacity to generate timely forecasts to inform decision making.

It will take time for other institutions to replace that contribution. In the short run, stakeholders can use the information that’s already been generated. In the medium term, there may be uncertainty and incoherence in interventions and investments.

Because Kenya’s weather has been so variable, the country needs seasonal forecasts at both national and county levels.

What should Kenya do to fill the gap?

Kenya can strengthen the capacity in institutions such as the drought management authority and statistics bureau.

In the long term, the country must increase financial investments that support food security. And it must build technical capacity to produce credible, reliable and timely food security forecasts.

– Kenya relies on USaid famine warning system – what happens now that it’s gone?
– https://theconversation.com/kenya-relies-on-usaid-famine-warning-system-what-happens-now-that-its-gone-249614

MIL OSI Africa –
February 15, 2025

Category: Economy

LOK SABHA SPEAKER EMPHASIZES THE IMPORTANCE OF QUALITY LEGISLATIVE DRAFTING AND THE IMPORTANCE OF INPUTS FROM ELECTED REPRESENTATIVES IN LEGISLATIVE PROCESSESLOK SABHA SPEAKER PITCHES FOR FINANCIAL AUTONOMY OF LEGISLATURES, CALLS FOR WIDER CONSULTATIONS

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What are the highlights of the network’s work in Kenya?

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What gaps will its absence create?

What should Kenya do to fill the gap?

LOK SABHA SPEAKER EMPHASIZES THE IMPORTANCE OF QUALITY LEGISLATIVE DRAFTING AND THE IMPORTANCE OF INPUTS FROM ELECTED REPRESENTATIVES IN LEGISLATIVE PROCESSES

LOK SABHA SPEAKER PITCHES FOR FINANCIAL AUTONOMY OF LEGISLATURES, CALLS FOR WIDER CONSULTATIONS