NewzIntel.com

Category: Economy

  • MIL-OSI USA: Senate Majority Leader Expedites Vote On Historic Digital Asset Legislation

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty
    WASHINGTON—Today, Senate Majority Leader John Thune initiated a process that expedites a vote on a historic piece of legislation that establishes the first ever regulatory framework for payment stablecoins. The legislation is the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act authored by United States Senator Bill Hagerty (R-TN), a member of the Senate Banking Committee, and cosponsored by Tim Scott (R-SC), Chairman of the Senate Banking Committee, and Cynthia Lummis (R-WY).
    “The GENIUS Act establishes a clear, pro-growth, and secure regulatory framework to modernize our payments system and cement U.S. dollar dominance. I look forward to passing the GENIUS Act in short order to keep digital asset innovation in America, protect customers, and make sure foreign companies are playing by the same rules,” Sen. Bill Hagerty (R-TN) said.
    “Our landmark stablecoin legislation is a huge victory for the digital asset industry and a critical step in securing our nation’s financial future,” said Sen. Cynthia Lummis. “The GENIUS Act strikes the balance of establishing proper guardrails that protect consumers while preserving financial innovation and America’s dollar dominance in the global financial system. President Trump and Leader Thune’s decision to bring this important legislation to the floor demonstrates his commitment to maintaining U.S. leadership in financial services while keeping digital asset companies and jobs onshore. I want to thank Senator Hagerty and Chairman Scott for their leadership on this and look forward to getting this legislation across the finish line.”
    “The GENIUS Act is a critical first step towards delivering on President Trump and the American people’s mandate to advance a regulatory framework for digital assets – and will protect consumers and expand financial inclusion across the country,” said Chairman Tim Scott. “I look forward to voting for the bill on the floor and the Senate taking historic action to provide the industry with the clarity it deserves.”
    Background:
    Dollar-denominated payment stablecoins are digital assets pegged to the U.S. dollar. They can improve transaction efficiency, expand financial inclusion, and strengthen the dollar’s supremacy as the world reserve currency by driving demand for U.S. Treasuries. The previous Administration’s hostility toward crypto and refusal to provide clear regulatory guidelines has severely stifled stablecoin innovation. This legislation turns a new page.
    The GENIUS Act:
    Defines a payment stablecoin as a digital asset used for payment or settlement that is pegged to a fixed monetary value;
    Establishes clear procedures for institutions seeking licenses to issue stablecoins;
    Implements reserve requirements and light-touch, tailored regulatory standards for stablecoin issuers;
    For issuers of more than $10 billion of stablecoins, applies the Federal Reserve’s regulatory framework to depository institutions and the Office of the Comptroller of the Currency’s framework for nonbank issuers;
    Allows for state regulation of issuers under $10 billion in issuance and provides a waiver process for issuers exceeding the threshold to remain state-regulated; and
    Establishes supervisory, examination, and enforcement regimes with clear limitations.

    MIL OSI USA News –

  • MIL-OSI USA: Congressman Valadao Applauds Passage of Resolution to Repeal Longfin Smelt ESA Listing

    Source: United States House of Representatives – Congressman David G. Valadao (California)

    WASHINGTON – Today, the House of Representatives passed a Congressional Review Act resolution to repeal the Biden Administration’s listing of the longfin smelt as endangered under the Federal Endangered Species Act. This resolution would halt the proposed designation of critical habitat for the longfin smelt, as well as ensure California’s water remains available for those who need it most—families and farmers. Congressman Valadao joined Reps. Doug LaMalfa (CA-01), Vince Fong (CA-20), Tom McClintock (CA-05), Darrell Issa (CA-48), and Young Kim (CA-40) in introducing this resolution in March 2025.

    “Th Biden Administration’s unnecessary decision to list the longfin smelt as an endangered species is yet another example of an environmental policy not grounded in science that puts fish over people,” said Congressman Valadao. “Our families and farmers are already struggling with burdensome regulations that restrict water deliveries and threaten the future of agriculture in the Central Valley, and this rule would have ensured even more of our water is sent out to sea. By passing this resolution, the House is taking an important step forward in rolling back draconian water restrictions that directly affect our farmers, families, and rural communities, and I’m happy to see common sense won.”

    “The Biden Administration and activist judges have used this listing as a political tool to block progress on California water policy,” said Rep. LaMalfa. “This listing is based on cherry picked scientific anecdotes and even Stanford’s Center for Water California Recourses Policy and Management questioned the science of the listing. It adds yet another layer of conflicting regulations that dump tens of millions of acre feet of water out to the Pacific Ocean, with farmers receiving only 40% to 50% of their promised federal and state water. Congress isn’t going to stand by while bureaucrats and environmental lawsuits continue to wreck the water system that feeds our farms, our families, and our economy. I’m glad to see the House take a stand and push back with real solutions that help us grow food, provide water, and keep our economy strong.”

    Background:

    This designation, driven by litigation from an environmental group, by the U.S. Fish and Wildlife Service during the Biden Administration threatens California’s water supply by imposing new restrictions on the Central Valley Project (CVP) and State Water Project (SWP). This listing resulted in subsequent burdensome requirements imposed on the CVP that will divert even more water to the Pacific Ocean instead of supplying farms and families across the state. Under the Congressional Review Act, Congress can review and potentially block such regulations within a specific timeframe, and it drops the usual 60-vote requirement in the Senate for these resolutions.

    Read the full resolution here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: WATCH: Padilla, Murray, Wyden, West Coast Ports Sound Alarm on Trump’s Tariffs That Are Leaving Shelves Bare, Forcing Painful Layoffs

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    WATCH: Padilla, Murray, Wyden, West Coast Ports Sound Alarm on Trump’s Tariffs That Are Leaving Shelves Bare, Forcing Painful Layoffs

    WATCH: Padilla highlights importance of California’s ports in powering national economy
    WASHINGTON, D.C. — Today, U.S. Senators Alex Padilla (D-Calif.), Patty Murray (D-Wash.), and Ron Wyden (D-Ore.) hosted a virtual press call alongside Port of Long Beach Chief Executive Officer Mario Cordero and other West Coast port leaders to sound the alarm on the dramatic decline of container ships making the trip to West Coast ports and the harmful consequences of Trump’s reckless tariffs across the American economy: price hikes, layoffs, empty store shelves, and more. These tariffs will devastate California’s ports, including the Ports of Los Angeles and Long Beach — which receive 40 percent of the nation’s imports — impacting the entire U.S. economy.
    A new forecast by Apollo Global Management contends that the U.S. economy is on the verge of a self-inflicted recession as a result of Trump’s April 2 “Liberation Day” tariff policies. Apollo predicts the slowdown of container ships will lead to a sharp decrease in trucking demand by mid-to-late May, which will subsequently result in supply shortages and lower sales for retailers. Apollo predicts layoffs will occur across trucking and retail industries and that the U.S. economy will fall into a recession by this summer.
    The West Coast Senators raised serious concerns about these warning signs for the economy and urged their Republican colleagues to join them in asserting Congressional authority over tariffs to put an end to Trump’s trade war and reverse the economic damage already inflicted by the President before it’s too late.
    “California’s Ports of Los Angeles and Long Beach are keystones for the success of not just our state’s economy, but our national economy. So when the San Pedro Bay ports and other West Coast ports send warning signs about the damage of Trump’s tariffs, we know they’re really warning signs for our country,” said Senator Padilla. “The drop in cargo volume caused by Trump’s tariffs will mean empty shelves when products don’t reach our stores, rising prices on everything from groceries to clothes to cars, and undoubtedly, more Americans out of work. While today, it’s Western ports — we know it will only be a matter of weeks before the ripple effect causes pain across the nation.”
    “We are already seeing the consequences of Trump’s tariffs at our ports: fewer ships from across the Pacific, means less cargo at our ports, less cargo at our ports means less goods for our truckers to transport—and that ultimately means bare shelves for our retailers and the American consumer,” said Senator Murray. “Our ports know better than anyone that supply chains do not reset in an instant. The time to reverse these Republican tariffs was the same day they were announced. Every day This Republican Congress refuses to reject these tariffs is a day they are actively enabling Trump’s pro-recession agenda and higher taxes on every American. Congress needs to take the matches away from the President who is setting fire to the economy. Democrats are going to make sure Republicans continue to feel the pressure until this Congress takes action and overrides this President.”
    “Oregon knows firsthand that Trump’s tariff chaos is already hurting small businesses and drying up markets for red-white-and-blue products,” said Senator Wyden. “Speaking with small businesses and workers all over Oregon last week, every single one warned of damage from tariffs in the near future. West Coast senators will be on the front lines pushing back against these senseless Republican tariffs.”
    “As one of America’s largest ports, Long Beach moves more than $300 billion in cargo every year to and from every congressional district, supporting 2.7 million jobs. Due to the new trade policies, we are about to see a shift from cargo surge to cargo slowdown in the supply chain, and this will have a real impact on the American economy. For workers across the country whose jobs depend on cargo moving through the Port of Long Beach – dockworkers, truckers, logistics workers, retailers, farmers, factory workers – any sort of long-term, sustained downturn in shipments caused by the tariff will be detrimental to the job market. I remain hopeful that leaders in our nation’s capital recognize the significance of the goods movement industry and will take necessary action to ensure America’s economy can thrive,” said Mario Cordero, CEO of the Port of Long Beach.
    “Cargo volume at the nation’s busiest port will drop by about one-third next week,” said Port of Los Angeles Executive Director, Gene Seroka. “That means fewer jobs along with rising prices for consumers and businesses. Additionally, counter tariffs are having a severe impact on American agricultural exporters. We need agreements quickly with our trading partners that benefit and support the U.S. economy and supply chain.”
    The Port of Los Angeles — the largest port in the United States — expects imports to drop by 35 percent in just two weeks, and the Port of Long Beach expects similar declines.
    Senator Padilla is strongly opposed to Trump’s policies that will raise costs across the board for millions of working-class families. During a speech on the Senate floor yesterday, Senator Padilla similarly criticized Trump’s cruel tariffs and their impacts on the San Pedro ports, emphasizing the devastation they will cause American families and the national economy. He supported Senator Wyden’s resolution yesterday to undo Trump’s tariffs, which received Republican support but narrowly failed 49-49 after Vice President Vance’s tiebreaking “no” vote. Padilla also recently proposed a concurrent resolution that would simply demand basic transparency by requiring that any tariff used to offset tax cuts for the wealthy be explicitly written into the Republicans’ partisan budget reconciliation bill.
    Senator Padilla has consistently fought to secure federal funding to support and protect California’s nationally leading ports. Last year, he announced that the San Pedro Ports would receive more than $112 million through the FY 2024 U.S. Army Corps of Engineers Work Plan for critical construction upgrades and operations and maintenance activities. He has also consistently pushed for funding through the Bipartisan Infrastructure Law for California’s ports, including over $283 million for the Port of Long Beach in 2023, $94 million in port infrastructure grant funding in 2022, and over $57 million in 2021.
    Video of Senator Padilla’s remarks is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Tuberville, Grassley Reintroduce Bill to Help Students Navigate College Costs

    US Senate News:

    Source: United States Senator for Alabama Tommy Tuberville
    WASHINGTON – Today, Senators Tommy Tuberville (R-AL) and Chuck Grassley (R-IA) reintroduced a bill to help students and families make informed decisions when choosing a college and taking out loans. From the initial college search, to the acceptance of financial aid, to counseling once in college, the bill would help students avoid sticker shock, find the best school for their budget and avoid taking out ill-advised and oversized loans. Senator Tuberville, a member of the Senate Health, Education, Labor, and Pensions (HELP) Committee and the Chairman of the Education and the American Family Subcommittee, emphasized the importance of transparency in the college decision-making process:
    “More and more of our young people are finding themselves buried in student loan debt,” said Senator Tuberville. “Too many of our young people are falling behind on their life goals because they are carrying the burden of college loans for years after completing their degrees. This bill will help young people, who are considering pursuing higher education, understand if college is right fit for them and exactly what financial assistance they may need.”
    BACKGROUND:
    The Understanding the True Cost of College Act would create a universal financial aid offer form and standardize terms used to describe financial aid to allow students to more easily compare financial aid packages between schools. This move aims to prevent troubling findings by the Government Accountability Office (GAO) that over 90% of college financial aid offer letters currently understate the price students would pay. A summary of the Understanding the True Cost of College Act is available HERE. 
    MORE:
    Tuberville Introduces Legislation to Lower the Cost of Graduate School
    Tuberville: No Student Loan Bailouts for Convicted Antisemitic Protestors
    Tuberville, Marshall Request Expedited Review of Financial Aid Applications
    Tuberville Joins Legislation to Protect Taxpayers From Biden’s Latest Student Loan Scam
    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 –

  • MIL-OSI Security: Rochester man pleads guilty to stealing $168-thousand dollars from his employer

    Source: Office of United States Attorneys

    BUFFALO, N.Y. – U.S. Attorney Michael DiGiacomo announced today that Michael Torres, 37, of Rochester, NY, pleaded guilty before U.S. Magistrate Judge Jeremiah J. McCarthy to financial institution fraud, which carries a maximum penalty of 30 years in prison and a fine of $1,000,000.

    Assistant U.S. Attorney Douglas A. C. Penrose, who is handling the case, stated that between September 2021 and February 2022, Torres was employed as a Relationship Manager at Financial Institution 1. While in this position, he misused his position to apply for loans through Financial Institution 1 in the names of individuals without their knowledge or authorization. Torres applied for 19 loans for a total of $168,000, which was deposited into bank accounts that he controlled.

    The plea is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Matthew Miraglia.

    Sentencing will be scheduled at a later date.

    MIL Security OSI –

  • MIL-OSI USA: Shaheen, Colleagues Introduce Bipartisan America the Beautiful Act

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) joined her colleagues, U.S. Senators Steve Daines (R-MT) and Angus King (I-ME), to introduce their bipartisan conservation bill, the America the Beautiful Act. This legislation builds on the 2020 Great American Outdoors Act, which Shaheen cosponsored, by strengthening and reauthorizing the Legacy Restoration Fund (LRF) and addressing the serious maintenance backlog in national parks and public lands.
    “New Hampshire’s public lands and outdoor spaces are integral to our state identity and our thriving outdoor recreation economy. We must take steps to protect these resources for future generations of Granite Staters,” said Shaheen. “I was proud to see the Great American Outdoors Act become law, and I’ll continue fighting to protect and preserve outdoor spaces by passing this legislation which will continue the progress we’ve made.” 
    Shaheen, Daines and King were joined by U.S. Senators Kevin Cramer (R-ND), Mark Warner (D-VA), Tim Sheehy (R-MT) and Lisa Murkowski (R-AK) in introducing the bill.
    The America the Beautiful Act reauthorizes the LRF through 2033 and increases funding to $2 billion per year to help address the maintenance backlog in national parks and public lands. Currently, the maintenance backlog for each agency is $23.26 billion for the U.S. Park Service, $8.695 billion for the U.S. Forest Service, $2.65 billion for the U.S. Fish and Wildlife Service, $5.72 billion for the U.S. Bureau of Land Management and $804.5 million for the U.S. Bureau of Indian Education. In New Hampshire, National Parks and U.S. Fish and Wildlife Refuges have approximately $13 million in outstanding deferred maintenance needs.
    Since its creation in 2020, the LRF has benefitted numerous national parks and public lands in New Hampshire. Saint-Gaudens National Historical Park has received more than $14 million from the Legacy Restoration Fund to rehabilitate four historic structures and address electrical, HVAC and alarm systems. Across the White Mountain National Forest, the Legacy Restoration Fund is supporting trail restoration work on the Ammonoosuc Ravine Trail and Rumney Rocks Climbing Area, as well as repairs of the Tripoli Bridge. Sections of the Appalachian National Scenic Trail across New England are slated to receive $15 million in FY25 to rehabilitate and repair facilities along the trail that will address maintenance needs and improve visitor safety. 
    The America the Beautiful Act is supported by over 40 public lands, conservation and recreation groups. Click here to view the full list of statements of support and supporting groups.
    You can read the full bill text here.
    Shaheen has led efforts to safeguard our natural environment and invest in climate resiliency while boosting New Hampshire’s recreation economy. Shaheen led the bipartisan Outdoor Recreation Jobs and Economic Impact Act into law to require the federal government to measure the impact of the outdoor recreation on the economy. In November 2024, Shaheen applauded the release of an annual report showing a $1.2 trillion economic contribution by the outdoor recreation sector in 2023, including $3.9 billion in New Hampshire. Shaheen also helped reintroduce the Ski Hill Resources for Economic Development (SHRED) Act to fuel investment in outdoor recreation in national forests that benefits mountain communities.
    Shaheen has also led efforts to help secure full funding and permanent authorization for the Land and Water Conservation Fund (LWCF), which has helped protect more than 2.5 million acres of land and supported tens of thousands of state and local outdoor recreation projects throughout the nation. In 2020, Shaheen helped lead the Great American Outdoors Act into law to permanently fund the LWCF and provide mandatory funding for deferred maintenance on public lands.  

    MIL OSI USA News –

  • MIL-OSI USA: Senate Adopts Boozman Backed Resolution Designating April as Financial Literacy Month

    US Senate News:

    Source: United States Senator for Arkansas – John Boozman
    WASHINGTON—The U.S. Senate unanimously adopted a resolution backed by U.S. Senator John Boozman (R-AR) designating April as Financial Literacy Month. Boozman joined Senate Banking Committee Chairman Tim Scott (R-SC) and Senator Jack Reed (D-RI) in leading the measure to raise awareness for access to resources that can help Americans of all ages develop and maintain healthy financial habits while underscoring the importance of financial education and empowerment.  
    “When Americans have the tools and knowledge to better manage their finances, they are empowered to chart a path to financial stability,” said Boozman. “I am pleased to support this commonsense, bipartisan effort to help hardworking people of all ages make positive money management choices.”
    “Financial literacy is critical to achieving financial independence and the American Dream,” said Scott. “Unfortunately, many Americans growing up like I did lack basic financial education, which is why I’ve made it my mission to make programs and resources on this important topic more accessible. Designating April 2025 as Financial Literacy Month builds on our efforts to ensure all Americans can access the tools necessary to secure their financial future.”
    “From managing a household budget to making major purchases to laying the foundation for a secure retirement, financial literacy is a lifelong endeavor. Unfortunately, too many Americans lack the basic financial literacy skills needed to make informed decisions,” said Reed. “This has impacts on families, communities, and future generations. Raising awareness about the resources available to improve financial literacy is the first step on the path to a financially secure future. I’m pleased our Senate colleagues are coming together on a bipartisan basis to recognize financial Literacy Month.” 
    In addition to Boozman, Scott and Reed, the resolution was also cosponsored by Senators Ron Wyden (D-OR), Dick Durbin (D-IL), Susan Collins (R-ME), Mike Crapo (R-ID), Maria Cantwell (D-WA), Sheldon Whitehouse (D-RI), John Barrasso (R-WY), Jim Risch (R-ID), Angus King (I-ME), Shelley Moore Capito (R-WV), Gary Peters (D-MI), Bill Cassidy, M.D. (R-LA), Mike Rounds (R-SD), Maggie Hassan (D-NH), Cindy Hyde-Smith (R-MS), Kevin Cramer (R-ND), Mark Kelly (D-AZ), Cynthia Lummis (R-WY), Tommy Tuberville (R-AL), Raphael Warnock (D-GA), Katie Britt (R-AL), Jim Banks (R-IN), Lisa Blunt Rochester (D-DE) and Bernie Moreno (R-OH).
     Click here for text of the resolution.  

    MIL OSI USA News –

  • MIL-OSI New Zealand: Deputy PM concludes constructive visit to New Caledonia

    Source: New Zealand Government

    Deputy Prime Minister and Foreign Minister Winston Peters has concluded a constructive and positive visit to New Caledonia – New Zealand’s closest geographical neighbour.  Mr Peters met the French Minister for Overseas Territories, Manuel Valls, and the President of the Government of New Caledonia, Alcide Ponga.  “We came to listen and learn, and to demonstrate New Zealand’s support for the continuation of dialogue on New Caledonia’s institutional future, led by Minister Valls,” Mr Peters says.“These institutional discussions in Nouméa over the coming days send a positive signal to the Pacific region about the good faith efforts underway to return peace and stability to New Caledonia,” Mr Peters says.“Since last year’s crisis, New Zealand has consistently said that no matter your position on New Caledonia’s institutional future, violence is not the answer – and progress can only be made through careful, inclusive dialogue.“We wish everyone involved in the discussions in Nouméa in the coming week well. New Zealand, just like France and all our Pacific partners, wishes for a stable, secure, prosperous and cohesive New Caledonia.” When Mr Peters last visited Nouméa in December 2024, he announced a support package to help New Caledonia’s recovery. During this visit, he recommitted New Zealand, during discussions with Minister Valls and President Ponga, to support New Caledonia’s development through ongoing constructive, practical support. “New Zealand is not perfect, but we do have experience over recent decades in promoting economic development across our regions and communities,” Mr Peters says. “Economic development is the key to social cohesion. We hope there are pragmatic lessons we can share with New Caledonia, working closely with French authorities, including through Caledonian entrepreneurs gaining a deeper understanding of the Māori economy.”Mr Peters and Minister Valls also discussed regional security and foreign interference in the Pacific. “New Zealand and France are long-standing partners on Pacific security issues, including humanitarian assistance and disaster response and fisheries surveillance. We have a shared interest in ensuring that the Pacific Islands region is protected from efforts by external influences to undermine good governance and democratic decision making.” While in New Caledonia, Mr Peters also met with the Director-General of the Pacific Community (SPC), Dr Stuart Minchin. They discussed the SPC’s role in providing technical and scientific support to help drive the development of Pacific Island countries.Mr Peters also met New Zealand Defence Force personnel taking part in the military exercise Croix du Sud currently under way in New Caledonia and Wallis and Futuna, focused on humanitarian assistance and emergency response. In the exercise, NZDF staff are working alongside forces from other Pacific countries and likeminded partners – hosted by the French Armed Forces in New Caledonia. Mr Peters arrives back in New Zealand later today. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Developing a new Action Plan for unpaid carers

    Source: New Zealand Government

    The Government is taking action to better support unpaid and informal carers, Associate Minister for Social Development and Employment Penny Simmonds says.
    Every morning across New Zealand, unpaid carers are helping loved ones get ready for the day — preparing meals, arranging medication, assisting with transport, and offering vital support, all while juggling jobs, study, and family life.
    “Each day, around 500,000 unpaid carers provide essential support for New Zealanders with disabilities, illnesses, injuries, or addictions,” Ms Simmonds says.
    “It’s critical work that often leads to better outcomes than clinical or residential care — and it eases the burden on our health and social services.
    “But it’s tough work. Many carers are balancing these responsibilities with little formal recognition or support. They deserve better, and that’s exactly what this new Action Plan aims to deliver.”
    Government agencies already provide targeted assistance for carers, including financial support, respite subsidies, and practical help. The Action Plan will build on this foundation and ensure carers’ needs are better understood and addressed.
    The Ministry of Social Development is leading development of the Plan, working closely with the Carers Alliance, relevant government agencies, and a new Carers Advisory Group.
    “The Advisory Group will include around 10 experienced members who reflect the breadth of the carer community — from young carers to those supporting disabled or older people,” Ms Simmonds says.
    “There will also be opportunities for unpaid carers themselves to share their experiences and shape the plan.”
    An interagency working group will oversee the development, with the final Action Plan expected by the end of the year.
    “A lot has changed since the last Action Plan expired at the end of 2023. It’s time to listen again and deliver a plan that genuinely supports the people who care for our communities every day,” Ms Simmonds says.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Reed Renews Push to End Special Tax Deductions for Huge Executive Bonuses

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WASHINGTON, DC – According to the Economic Policy Institute, the gulf in pay between CEOs and average workers is 290 to 1. In an effort to ensure that hardworking U.S. taxpayers are not forced to subsidize lavish executive compensation packages while making a fraction of CEO pay, U.S. Senator Jack Reed (D-RI) today reintroduced legislation that would finally fully close a major loophole in corporate tax law.
    The Stop Subsidizing Multimillion Dollar Corporate Bonuses Act (S. 1576) would put an end to a special tax break for huge executive bonuses by preventing publicly traded corporations from deducting the cost of any multimillion-dollar pay package paid to executives from their corporate tax bills.
    Under section 162(m) of the tax code, publicly traded corporations cannot deduct more than $1 million in compensation paid to their top executives.  But section 162(m) does not cover compensation paid to all public company employees, and corporations have long exploited this loophole to claim tax deductions for executive compensation packages that far exceed $1 million.  As publicly traded corporations offer lucrative compensation deals to increasing numbers of executives and not just those at the very top of the organization, U.S. taxpayers are shouldering the cost.
    Both Republican and Democratic administrations have signed laws based on earlier versions of this legislation in order to curtail the abuse of this deduction.  This includes ensuring that performance-based compensation is actually counted as compensation under section 162(m) and increasing the number of highly paid executives who are subject to section 162(m).  Partially tightening the law in these ways has saved taxpayers billions of dollars.  However, the full loophole has still not been closed, and taxpayers continue to subsidize extravagant compensation.
    The Stop Subsidizing Multimillion Dollar Corporate Bonuses Act would address the remaining gaps by applying section 162(m) restrictions to all employees of publicly traded corporations so that all compensation is subject to a deductibility cap of $1 million per employee.  The nonpartisan Joint Committee on Taxation has estimated that closing this loophole would save taxpayers nearly $80 billion over ten years.  In other words, taxpayers are currently paying around $8 billion each year to subsidize exorbitant executive pay packages.
    “Corporations shouldn’t be able to get out of paying their fair share of taxes by lavishing executives with jumbo bonuses at the expense of taxpayers, workers, and shareholders.  Taxpayers shouldn’t be subsidizing millionaire compensation and it’s way past time for this loophole to be fully closed,” said Senator Reed.  “Companies are free to pay their executives as much as they want.  But it is unfair to force hardworking American taxpayers to foot the bill for multimillion-dollar bonuses.  The Stop Subsidizing Multimillion Dollar Corporate Bonuses Act puts an end to this give-away and will restore fairness to the tax code and ensure corporations, not taxpayers, are the ones who pay for multimillion dollar bonuses.  Success and capitalism are not at issue here.  What’s at issue is a broken system that has taxpayers subsidizing multimillion dollar executive bonuses while those same taxpayers are struggling with rising costs.”
    The Stop Subsidizing Multimillion Dollar Corporate Bonuses Act is also cosponsored by U.S. Senators Richard Blumenthal (D-CT), Tammy Baldwin (D-WI), Jeff Merkley (D-OR), Sheldon Whitehouse (D-RI), Chris Van Hollen (D-MD), Bernard Sanders (I-VT), and Elizabeth Warren (D-MA).
    The bill is supported by Public Citizen, Americans for Financial Reform, the AFL-CIO, the International Brotherhood of Teamsters, MIT Professor and Nobel Prize Winner Simon Johnson, Take On Wall Street, Americans for Tax Fairness, and the Institute for Policy Studies, Global Economy Project.
    “This is a timely and important proposal, addressing a basic issue of fairness in the American economy,” said MIT Professor and Nobel Prize Winner Simon Johnson.
    “It’s high time our tax code stopped rewarding large corporations for giving their executives extravagant pay packages. We applaud Senator Reed and Representative Doggett for introducing legislation to finally close a senseless loophole that subsidizes outrageous executive pay,” said Natalia Renta, Associate Director of Corporate Governance and Power at Americans for Financial Reform.

    MIL OSI USA News –

  • MIL-OSI USA: Senators Murray, Wyden, and Padilla and West Coast Ports Sound Alarm on Trump’s Tariffs Leaving Shelves Bare, Forcing Painful Layoffs

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    ***WATCH THE FULL PRESS CONFERENCE HERE; DOWNLOAD HERE***
    Washington, D.C. — Today, U.S. Senators Patty Murray (D-WA), Ron Wyden (D-OR), and Alex Padilla (D-CA) held a virtual press call alongside West Coast ports to sound the alarm on the dramatic decline of container ships making the trip to West Coast ports and the harmful consequences of Trump’s tariffs across the American economy—price hikes, layoffs, empty store shelves, and more.
    The Senators were joined by Mario Cordero, Chief Executive Officer of the Port of Long Beach; Ryan Calkins, Port of Seattle Commissioner; and Dick Marzano, Port of Tacoma Commissioner. The press call comes just one day after the overwhelming majority of Senate Republicans rejected a bipartisan resolution led by Senator Wyden and unanimously supported by Democrats to repeal President Donald Trump’s global tariffs.
    A new forecast by Apollo Global Management contends that the U.S. economy is on the verge of a self-inflicted recession as a result of Trump’s tariff policies, drawing a plain timeline from Trump’s so-called “Liberation Day” on April 2nd to a dramatic slowdown of container ships making their way to U.S. ports. Apollo predicts this slowdown of container ships will lead to a sharp decrease in trucking demand by mid-to-late May, which will subsequently result in supply shortages and lower sales for retailers. By late May to early June, Apollo predicts layoffs will occur across trucking and retail industries and that the U.S. economy will fall into a recession by this summer.
    During the call, the West Coast Senators sounded the alarm on the major warning signs for the economy and continued to urge their Republican colleagues to join them in asserting Congressional authority over tariffs to put an end to Trump’s trade war and minimize the economic damage already inflicted by the President.
    “We are already seeing the consequences of Trump’s tariffs at our ports: fewer ships from across the Pacific, means less cargo at our ports, less cargo at our ports means less goods for our truckers to transport—and that ultimately means bare shelves for our retailers and the American consumer,” said Senator Murray. “Our ports know better than anyone that supply chains do not reset in an instant. The time to reverse these Republican tariffs was the same day they were announced. Every day This Republican Congress refuses to reject these tariffs is a day they are actively enabling Trump’s pro-recession agenda and higher taxes on every American. Congress needs to take the matches away from the President who is setting fire to the economy. Democrats are going to make sure Republicans continue to feel the pressure until this Congress takes action and overrides this President.”
    “Oregon knows firsthand that Trump’s tariff chaos is already hurting small businesses and drying up markets for red-white-and-blue products,” said Senator Wyden. “Speaking with small businesses and workers all over Oregon last week, every single one warned of damage from tariffs in the near future. West Coast senators will be on the front lines pushing back against these senseless Republican tariffs.”
    “California’s Ports of Los Angeles and Long Beach are keystones for the success of not just our state’s economy, but our national economy. So when the San Pedro Bay ports and other West Coast ports send warning signs about the damage of Trump’s tariffs, we know they’re really warning signs for our country,” said Senator Padilla. “The drop in cargo volume caused by Trump’s tariffs will mean empty shelves when products don’t reach our stores, rising prices on everything from groceries to clothes to cars, and undoubtedly, more Americans out of work. While today, it’s Western ports — we know it will only be a matter of weeks before the ripple effect causes pain across the nation.”
    “We take our mission as ports seriously because a lot is at stake. The current tariffs will have far-reaching consequences for Washington businesses and consumers, and the thousands of jobs that rely on international trade. We are fortunate to have such a great advocate in Senator Murray and are grateful for her continued attention to these critical issues,” said Northwest Seaport Alliance Managing Member and Port of Tacoma Commissioner, Dick Marzano.
    “At the Northwest Seaport Alliance, we have already started to see serious impacts of the tariff war on our docks. As our policy makers address economic and security concerns with international trading partners, we encourage them to tread carefully in order to preserve space for a commercial relationship. We thank Senator Murray for her advocacy for policies that support Washington businesses, jobs, and communities,” said Northwest Seaport Alliance Managing Member and Port of Seattle Commissioner, Ryan Calkins.  
    “As one of America’s largest ports, Long Beach moves more than $300 billion in cargo every year to and from every congressional district, supporting 2.7 million jobs. Due to the new trade policies, we are about to see a shift from cargo surge to cargo slowdown in the supply chain, and this will have a real impact on the American economy. For workers across the country whose jobs depend on cargo moving through the Port of Long Beach – dockworkers, truckers, logistics workers, retailers, farmers, factory workers – any sort of long-term, sustained downturn in shipments caused by the tariff will be detrimental to the job market. I remain hopeful that leaders in our nation’s capital recognize the significance of the goods movement industry and will take necessary action to ensure America’s economy can thrive,” said Mario Cordero, CEO of the Port of Long Beach.
    “Cargo volume at the nation’s busiest port will drop by about one-third next week,” said Port of Los Angeles Executive Director, Gene Seroka. “That means fewer jobs along with rising prices for consumers and businesses. Additionally, counter tariffs are having a severe impact on American agricultural exporters. We need agreements quickly with our trading partners that benefit and support the U.S. economy and supply chain.”
    Washington state has one of the most trade-dependent economies of any state in the country, with 40 percent of jobs tied to international commerce. Washington state is the top U.S. producer of apples, blueberries, hops, pears, spearmint oil, and sweet cherries—all of which risk losing vital export markets due to retaliatory tariffs from key trading partners including Canada. Additionally, more than 12,000 small and medium-sized companies in Washington state export goods and will struggle to absorb the impact of retaliatory tariffs. Canada is Washington’s largest trading partner, accounting for nearly $20 billion in imports and $10 billion in exports. China is the world’s second-largest economy and Washington state exported over $12 billion in goods to China last year—making China Washington state’s top export partner—and imported $11.2 billion in goods, the most in imports from any country aside from Canada. Trump’s tariffs during his first term were extremely costly for Washington state—for example, India imposed a 20 percent retaliatory tariff on U.S. apples, causing Washington apple shipments to India to fall by 99 percent and growers to lose hundreds of millions of dollars in exports.
    Senator Murray has been a vocal opponent of Trump’s chaotic trade war from the very start and has been lifting up the voices of people in Washington state harmed by this administration’s approach to trade and calling on Republicans to end Trump’s trade war—which Congress has the power to do—and take back Congress’ Constitutionally-granted power to impose tariffs. Earlier last month, Senator Murray brought together leaders across Washington state who highlighted how Trump’s ongoing trade war is already a devastating hit to Washington state’s economy, businesses, and our agriculture sector. Senator Murray also took to the Senate floor to lay out how Trump’s chaotic trade war is seriously threatening our economy, American businesses, families’ retirement savings, and so much else.
    Murray has also been sounding the alarm on Trump’s tariffs across Washington state. Recently, Senator Murray held a roundtable discussion in Tacoma with local businesses and ports, met with farmers in Yakima to discuss the consequences of Trump’s tariffs, and held a roundtable discussion in Vancouver at a local metal fabrication company to highlight how Trump’s trade war is hurting businesses and our economy Washington state. Just last week, Senator Murray met with small business owners in Seattle’s University District to hear how Trump’s tariffs and the broader economic uncertainty are affecting them, and later she met with farmers in Skagit County to discuss tariffs, and visited Blaine near the Canadian border to highlight the impacts of Trump’s trade war.
    Senator Murray’s full remarks as delivered during today’s press call are below:
    “Thank you everyone for joining us, and I am so glad to be on this call today with some of my colleagues from the West Coast—the best coast. You’re going to hear from Senators Wyden and Padilla, and our West Coast ports. 
    “We are here to sound the alarm on Trump’s disaster of a trade policy with some of the ports that we represent, because the window of opportunity we have to minimize the worst consequences of this inane tariff agenda is rapidly shrinking. I want to be clear what’s happening here, one economically illiterate President is forcing a totally unpredictable and thoughtless trade war onto the entire world—and although Trump inherited a remarkably strong and resilient American economy, he is singlehandedly pushing this nation toward a painful Republican Recession while forcing a tax increase on everyone.
    “All of the major economic indicators are there, we’re talking big red, flashing sirens. We went from months of strong economic growth and predictions of more growth to come, to a shrinking economy all thanks to Trump and his tariffs. Consumer confidence is at its lowest level since COVID because it’s pretty obvious Trump is driving the economy into the ground on purpose. Small businesses in my state who rely on imports are telling me the situation is as dire for them as it was during COVID—during COVID! They’re actually calling Trump’s trade war a kind of COVID 2.0 for them.
    “They are facing tariffs on items we either don’t grow or make in the United States, and realistically never will, for things like coffee or Green Tea. They are shouting from the rooftop that Trump is singlehandedly detonating a mass extinction event for small businesses in America.
    “And listen, few people understand better than our Ports that you don’t need these tariffs to last very long for them to have a verybig impact. Fewer ships from across the Pacific, means less cargo at our ports, less cargo at our ports means less goods for our truckers to transport, and that ultimately means bare shelves for our retailers and the American consumer.
    “Now even if you assume the most optimistic outlook that Trump is going to cut amazing new trade deals with everyone he’s burned—which he won’t—there will still be a painful cost from the shock to the economy that has already been set in motion. Supply chains do not reset in an instant. The time to reverse these Republican tariffs was the same day they were announced.
    “Just three Republicans chose to support Senator Wyden’s resolution yesterday, with the majority blocking that bill. That is a dangerous and deliberate decision by Republicans to enable Trump’s pro-recession agenda and higher taxes on every American—and for every day that Republicans choose to allow Trump to sabotage the economy, more small businesses will continue to suffer.
    “Businesses in Washington state are already having to take cost cutting measures, they’re laying off employees, some may even close for good. For what? There’s no strategy here. It’s short-term pain for long-term pain. This entire debacle is already a prime example of self-inflicted economic arson. No one wins here.
    “Republicans need to cut their losses, and work with Democrats immediately to end this tax on consumers and stop these nonsense trade wars. Congress needs to take the matches away from the President who is setting fire to the economy. So, Democrats are going to make sure Republicans continue to feel the pressure until this Congress takes action and overrides this President.
    “So, with that, I want to turn it over to Senator Wyden. He has been a leader in our efforts to rein in Trump’s tariffs.”

    MIL OSI USA News –

  • MIL-OSI USA: Murray, Daines Introduce Bill to Cut Red Tape, Create Simplified Pathway for Ecosystem Restoration in Regulated Floodplains

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, introduced the Floodplain Enhancement and Recovery Act with Senator Steve Daines (R-MT). This bipartisan legislation would create a new pathway for ecosystem restoration projects in floodplains that meet specific low-risk criteria and would simplify approval for important restoration work while still upholding flood safety standards.
    Under the current Federal Emergency Management Agency (FEMA) policy, any proposed development in a regulated floodway, whether it’s a shopping mall or salmon habitat, must prove that it will not increase the base flood elevation (BFE) of the area. This requirement is commonly referred to as the “No Rise” rule. While important for protecting communities from increased flood risks, it has had major unintended consequences on important environmental restoration in Washington state and around the country.
    “Here in Washington state ensuring our waterways stay healthy is critical for not just environmental conservation efforts, but important for our communities and economy as well. This legislation will simplify approval of ecosystem restoration projects in floodplains, which is critical for many projects in Washington state where many communities are in a regulated floodway,” said Senator Murray. “Government should be making it easier to protect our environment, not harder. I am proud to be a partner to the many Tribes and advocates in Washington state that have been pushing for the Floodplain Enhancement and Recovery Act, and I will continue to fight for commonsense solutions to protect and restore our ecosystems.”
    In Washington state, many salmon habitat restoration projects involve placing woody debris in a waterway to slow water and make safe spaces for juvenile salmon to develop. These projects, and many others, often fail the “No Rise” rule. Currently, the only way around the rule is to first update FEMA’s flood maps with the projected BFE impacts. This requires extensive and very expensive hydrologic and hydraulic analyses, often performed by a third-party engineer. FEMA then reviews the analyses, replicates them, and approves them internally before giving the okay to move forward, which has taken up to three years to complete. While this process often makes sense in an urbanized, flood-prone community, it is an unnecessary exercise for restoration in remote areas.
    “Critical ecosystem restoration projects across Montana have been abandoned due to FEMA’s onerous and costly ‘No Rise’ rule. This commonsense, bipartisan bill will reduce unnecessary burdens on important conservation and restoration work, while continuing to keep our communities safe from flooding,” said Senator Daines.
    Many communities in Washington have avoided doing restoration work in regulated floodways—which makes up much of the state—to avoid the associated costs. This bill would allow for a more efficient process for ecosystem restoration in a regulated floodplain and addresses the issue of “No Rise,” which has been a priority concern for a number of Tribal communities and salmon advocates in Washington state for the last few years.
    “Ecosystem restoration projects reduce flood risk and restore the natural functions of floodplains,” said Ed Johnstone, Chairman of Northwest Indian Fisheries Commission. “This proposed legislation is a strong step toward removing an undue burden for these essential habitat restoration and nature-based solution projects. Treaty tribes support legislation that keeps communities safe while restoring salmon habitat and protecting treaty rights in the Pacific Northwest.”
    “Restoring healthy floodplains is just one of many nature-based solutions that must be integrated into our national efforts to make communities safer and rivers healthier in the face of increasingly extreme weather,” said Eileen Shader, Senior Advisor for American Rivers Action Fund and a floodplains expert. “Making sure that these cost-efficient and common-sense restoration projects are not limited by inefficiencies in the regulatory framework is an important step in ensuring lives and property are protected.” 
    “The Association of State Floodplain Managers supports this legislation because it is a practical solution balancing the need to identify any relevant impacts of floodplain restoration projects with time, effort and resources to do so,” said Chad Berginnis, Executive Director of The Association of State Floodplain Managers. “The land use and development standards of the NFIP need to be sensibly applied in a way to protect and enhance the natural and beneficial functions of our nation’s floodplains.”  
    “We appreciate Senator Murray’s leadership and partnership in developing this important legislation. It’s a common-sense approach that reduces costs and delays for watershed restoration while maintaining flood safety,” said Casey Sixkiller, Director of the Washington State Department of Ecology. “By giving our federal partners more flexibility in their review processes, this bill will help move critical ecosystem and salmon recovery projects forward without unnecessary regulatory hurdles or added costs.”
    “There are many benefits to having intact natural floodplains. One of them is that they lower the risks associated with flooding. That is one of the main reasons why The Nature Conservancy supports policies, like this one from Senators Murray and Daines, that help scale up work to restore floodplains,” said Cameron Adams, Policy Advisor for The Nature Conservancy. “This bipartisan legislation would give communities the flexibility they want and need to do science-backed ecosystem restoration projects in flood zones. These types of projects don’t just benefit people, but also plants and animals that thrive in healthy landscapes.”
    “Ecosystem restoration projects are a vital tool to address landscape recovery and habitat restoration, especially after major weather events. This amendment would make it easier for local communities to develop effective and necessary restoration projects by streamlining the approval process for ecosystem restoration projects,” said Jeremy Peters, CEO of National Association of Conservation Districts. “NACD appreciates the clarity and flexibility provided in this amendment and looks forward to seeing how local conservation districts will have an even greater impact in areas in need of restoration.”
    Senator Murray has been a champion for protecting and strengthening critical salmon and fish populations throughout her time in the Senate. Senator Murray secured a historic $2.85 billion investment in salmon and ecosystem restoration programs—including $400 million for a new community-based restoration program focused on removing fish passage barriers in the Bipartisan Infrastructure Law—and in the Inflation Reduction Act, Murray secured hundreds of millions for Washington state priorities including $15 million for the Pacific Coastal Salmon Recovery Fund, $3 million to support facilities at the Olympic Coast National Marine Sanctuary, $27 million for Pacific salmon research, and more.
    Last Congress, as then-Chair of the Senate Appropriations Committee, Murray protected critical funding for salmon recovery and fishery projects in the Fiscal Year 2024 government spending bills she negotiated and passed into law, including securing: $50 million in the construction of the Howard Hanson Dam Fish Passage facility; $75 million for the Pacific Salmon account at the National Marine Fisheries Service (NMFS), $65 million for the Pacific Coastal Salmon Recovery Fund, $54 million for the EPA’s Puget Sound Geographic Program, and more.

    MIL OSI USA News –

  • MIL-OSI USA: Grassley, Whitehouse Welcome GAO Report on Use of Beneficial Ownership Information to Bolster Fraud Detection

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Sens. Chuck Grassley (R-Iowa) and Sheldon Whitehouse (D-R.I.) welcomed the release of a Government Accountability Office (GAO) report examining the use of beneficial ownership information in law enforcement or Inspectors General investigations to detect fraud and misconduct in government programs.
    Grassley and Whitehouse requested the report last Congress as part of their ongoing bipartisan work to improve government accountability and transparency, combat illicit finance and bolster the U.S.’s anti-corruption efforts.  
    “For decades, criminals, cartels and foreign terrorists have used shell companies to steal taxpayer dollars, launder their ill-gotten gains and endanger American lives with lethal drugs and violent crime. Last Congress, Senator Whitehouse and I uncovered just one aspect of these systemic weaknesses in lax Federal Aviation Administration (FAA) registration,” Grassley said. “In order to fight this pervasive form of fraud, and support President Trump’s agenda of cutting waste, fraud and abuse, Inspectors General must know who the true owners of U.S. corporations are. FinCEN ought to swiftly implement GAO’s recommendations and provide Inspectors General access to the company registry of beneficial owners.”
    “America is engaged in a clash of civilizations, between rule of law and international corruption and kleptocracy. Senator Grassley and I worked for years to pass the Corporate Transparency Act to support law enforcement’s ability to go after fraudsters, cartels, and criminals, who routinely use shell companies to stash dirty money in plain sight,” Whitehouse said. “This timely GAO report details how company ownership reporting betters our government’s approach to cracking down on fraudsters stealing government money and benefits at the expense of honest small businesses and taxpayers.”
    Findings:
    The GAO report found that some private companies competing for government contracts or applying for federal benefits perpetrated fraud against the government through obscuring their ownership information. The report recommends that the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) work with Inspectors General to facilitate the use of beneficial ownership information to bolster fraud detection, anti-corruption and illicit finance risk.   
    The report describes how shell company schemes result in significant financial losses and threaten our national security and public safety, including the theft of $93 million from Medicare to the transfer of sensitive military technology to foreign countries. About 85 percent of Inspectors General reported that beneficial ownership information could help prevent and investigate fraud in the government.  
    Background:
    Grassley and Whitehouse were the original sponsors of the TITLE Act, the precursor to the Corporate Transparency Act (CTA). The CTA was designed to play an important role in protecting national security and public safety by providing law enforcement and national security officials with the names of the true owners (“beneficial ownership information”) of U.S. corporations and other legal entities. This information aids the government’s efforts to combat terrorist financing, money laundering, sanctions evasion, proliferation financing, tax evasion and other forms of illicit finance carried out through shell and front companies.  
    The CTA was the culmination of more than a decade of painstaking bipartisan congressional deliberation. The measure passed as part of the FY2021 National Defense Authorization Act and was supported by a wide range of stakeholders, including national security experts, law enforcement, anti-corruption groups, human rights organizations, faith communities, financial institutions, real estate organizations, the U.S. Chamber of Commerce, labor unions and the first Trump Administration.   
    Read the full report HERE.
    -30-

    MIL OSI USA News –

  • MIL-OSI United Nations: Midwives on the front line: Health workers, humanitarians, heroes

    Source: United Nations Population Fund

    Statement by UNFPA Executive Director Dr. Natalia Kanem on the International Day of the Midwife (5 May 2025)

    When bombs fall or floods wash away roads and homes, where services are severed and infrastructure has collapsed, midwives are often the first responders and the last line of defence. They often travel across even the most remote and dangerous terrain to ensure essential services that save lives and safeguard health and human rights. 

    In humanitarian settings, women are twice as likely to die in childbirth. Deploying midwives as part of every humanitarian and national disaster response is a life-saving and cost-effective way to reduce preventable maternal deaths. 

    Midwives can provide 90 per cent of essential sexual, reproductive, maternal and newborn health services, including family planning. They also support survivors of gender-based violence, which skyrockets during crises. 

    Midwives often put themselves at enormous risk when they venture out to provide care to women and girls in hard to reach homes and communities in crisis settings.

    Yet, midwifery is still not always recognized as the vital health profession it is. Chronic underinvestment in midwifery has translated to inadequate training, a lack of infrastructure and supplies, and low salaries – barriers that are present in times of stability and only grow worse in times of crisis.

    Recent severe funding cuts to humanitarian assistance threaten to widen these gaps, with tragic impacts on women and girls in some of the world’s most challenging places. Already, midwives are reporting rising death rates among women and newborns in conflict zones and fragile contexts – an ominous sign in settings where over 60 per cent of global maternal deaths are reported. 

    We know that midwives could avert two thirds of maternal and newborn deaths, while delivering vast economic and social benefits – from lower healthcare costs to more productive workforces. Women and entire societies would be both less vulnerable to crisis and more equipped to recover from it. 

    On this International Day of the Midwife, we call on governments and donors to join UNFPA and partners in the Midwifery Accelerator initiative, which aims to increase financial and programmatic investments in midwives – and the systems that support them – before more lives are lost.

    Midwives save lives. Let us work together to end the global shortage of nearly 1 million midwives and to ensure that we can end preventable maternal deaths once and for all.

    MIL OSI United Nations News –

  • MIL-OSI Submissions: Global Bodies – IPU welcomes the release of former MP Ahmed Al-Alwani

    Source: Inter-Parliamentary Union (IPU)

    Geneva, Switzerland, Thursday 1 May 2025 – The Inter-Parliamentary Union (IPU) welcomes the release and acquittal of former Iraqi MP Mr. Ahmed Al-Alwani on 23 April 2025, following more than a decade of detention.

    Mr. Al-Alwani was arrested in December 2013 in Ramadi, Iraq, in a raid that violated his parliamentary immunity and resulted in the deaths of his brother and seven others. He was held incommunicado, tortured and sentenced to death by hanging.

    The IPU Committee on the Human Rights of Parliamentarians has been closely monitoring the case, repeatedly calling for his release and seeking opportunities to engage with Iraqi authorities.

    In August 2023, a breakthrough came when an IPU delegation, including the Committee President at the time, Mr. Samuel Cogolati, and former member Mr. Mushahid Hussein, visited Baghdad. The team met with Iraqi leaders at the highest levels, as well as Mr. Al-Alwani in detention, his family and legal representatives.

    The mission provided a platform for dialogue, transparency and trust-building. During the visit, the IPU used diplomatic channels to urge political and religious leaders to prevent Mr. Al-Alwani’s execution and to seek a satisfactory resolution.

    More recently, the release of Mr. Al-Alwani became possible after the family of a victim from the 2013 raid withdrew their complaint and accepted financial compensation, enabling Mr. Al-Alwani to benefit from the amnesty law.

    The IPU’s efforts, combined with the crucial mediation of tribal leaders and the Iraqi authorities’ commitment to resolving the case, helped overcome longstanding political obstacles and contributed to Mr. Al-Alwani’s release.

    Mr. Al-Alwani’s family have credited the IPU’s consistent advocacy, monitoring and direct engagement with promoting accountability and encouraging the Iraqi authorities to reach a fair and peaceful resolution.

    Background

    The IPU Committee on the Human Rights of Parliamentarians is the only international complaints mechanism with the specific mandate to defend the human rights of persecuted parliamentarians around the world. Its work includes mobilizing the international parliamentary community to support threatened MPs, lobbying national authorities, visiting MPs in danger and sending trial observers.

    Find out more about the live cases currently being monitored by the IPU: https://data.ipu.org/dataset/human-rights-of-mps/

    The IPU is the global organization of national parliaments. It was founded in 1889 as the first multilateral political organization in the world, encouraging cooperation and dialogue between all nations. Today, the IPU comprises 181 national Member Parliaments and 14 regional parliamentary bodies. It promotes peace, democracy and sustainable development. It helps parliaments become stronger, younger, greener, more innovative and gender-balanced.

    MIL OSI – Submitted News –

  • MIL-OSI USA: Weber Washington Times Op-Ed: The world runs on Southeast Texas energy

    Source: United States House of Representatives – Congressman Randy Weber (14th District of Texas)

    Washington, D.C. – In a new op-ed in the Washington Times, U.S. Rep. Randy Weber (TX-14), the Chairman of the Energy Subcommittee on the Science, Space, and Technology Committee and Vice-Chair of the Energy Subcommittee on the Energy and Commerce Committee, details the urgent need to restore American energy leadership by investing in the Gulf Coast — particularly Southeast Texas.

    Below, please find an excerpt from the op-ed.

    The world runs on Southeast Texas energy

    Washington Times

    By: Representative Randy Weber

    April 28, 2025

    “When America needs energy, it turns to Texas and more specifically, to Southeast Texas. We don’t just refine oil or export gas. We fuel economies, empower allies, and protect national security. In short: we are the energy capital of the world…

    “Our energy sector supports millions of well-paying jobs across America and tens of thousands of those are in Southeast Texas. These are jobs that don’t require four-year degrees, but do demand skill, grit, and the kind of work ethic that built this county. Welders, pipefitters, engineers, rig hands, terminal operators, truck drivers, safety techs this is the American workforce at its best…

    “We have four years to do a lot of important work that has been neglected for years. If we want to continue our energy dominance, we must double down on Southeast Texas…

    “That means investing in critical infrastructure pipelines, ports, and power grids to move our products faster and safer. It means cutting the red tape that delays permits and discourages innovation. It means unleashing the full potential of LNG, hydrogen, and carbon capture, and empowering the hardworking men and women who keep our energy economy running.”

    MIL OSI USA News –

  • MIL-OSI: Red White & Bloom Brands Completes Transformative Restructuring, Announces Delay in Filing of Annual Financial Statements, and Granting of MCTO

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 01, 2025 (GLOBE NEWSWIRE) — Red White & Bloom Brands Inc. (CSE: RWB) (“RWB” or the “Company”) today announced the successful completion of a series of transactions designed to significantly reduce potential shareholder dilution, lower debt carrying costs, continue to refocus operations on profitable growth initiatives, and facilitate the filing of its financial statements through the filing of a Management Cease Trade Order (“MCTO”).

    Successful Completion of Debt Restructuring

    The Company’s Board of Directors and Executive Management, in collaboration with a majority of its strategic lenders, successfully completed a comprehensive restructuring of approximately C$145 million of issued and outstanding debt, as part of a larger debt renewal program, through the entering into of various debenture and note amending agreements with such lenders with all applicable amended terms effective as of the respective renewal dates.

    The restructuring of the aforementioned debt accomplished the following:

    • Eliminated the potential dilution of 198 million common shares1, representing 42.1% of the issued and outstanding common shares, through the removal of debenture conversion rights.
    • Extended maturity dates for restructured debt to November 2026 (C$33 million) with the balance of the restructured debt ($112 million) extended through to September 2027.
    • Deferred all cash interest and principal payments for the restructured debt until their new respective maturity dates.
    • Achieved principal reductions of $5 million and annualized interest expense savings of $2.5 million associated with the restructured debt.

    Full financial statement disclosure regarding the debt renewal and applicable restructuring will be included in the Company’s interim financial statements for the first quarter ending March 31, 2025, expected to be filed on or before May 30, 2025, as of the date of this release.

    Granting of Management Cease Trade Order

    Due to unforeseen delays in completing its fiscal year-end audit, the Company advises that it has not been able to file its audited annual financial statements, management’s discussion and analysis, and related CEO and CFO certifications for the fiscal year ended December 31, 2024 (collectively, the “Annual Filings”) by the prescribed deadline of April 30, 2025, as required under National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”).

    The delay is primarily the result of the expanded scope of audit procedures required to address the complexity of certain transactions and the restatement of comparative financial information for prior periods. The restatement was initiated following comments received during a review conducted by the Canadian Public Accountability Board (CPAB) of the Company’s auditor.

    The Company is working diligently with its auditor and other advisors to complete the audit as soon as possible and currently expects to file the Annual Filings on or before May 30, 2025. The Company will issue a news release announcing the completion of the Annual Filings once they have been filed.

    The British Columbia Securities Commission has granted an MCTO under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). Pursuant to the MCTO, the Chief Executive Officer, President, and Chief Financial Officer of the Company may not trade in securities of the Company until such time as the Annual Filings have been filed and the MCTO has been revoked. The MCTO does not affect the ability of the general investing public to trade in the Company’s common shares.

    The Company intends to comply with the provisions of the alternative information guidelines as set out in NP 12-203 by issuing bi-weekly default status reports by way of news release until the Annual Filings are filed. These updates will include information regarding the progress of the Annual Filings and any material changes to the Company’s business, if any.

    About Red White & Bloom Brands Inc.

    Red White & Bloom Brands is a multi-jurisdictional cannabis operator and house of premium brands operating in the United States, Canada and select international jurisdictions. The Company is predominantly focusing its investments on major U.S. markets, including California, Florida, Missouri, Michigan, and Ohio in addition to Canadian and international markets.

    Red White & Bloom Brands Inc.
    Investor and Media Relations
    Edoardo Mattei, CFO
    IR@RedWhiteBloom.com
    947-225-0503
    Visit us on the web: https://www.redwhitebloom.com/.

    Follow us on social media:

    X @rwbbrands

    Facebook @redwhitebloombrands

    Instagram @redwhitebloombrands

    Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

    FORWARD LOOKING INFORMATION

    Certain information contained in this news release may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information is often identified by the use of words such as “plans,” “expects,” “may,” “should,” “could,” “will,” “intends,” “anticipates,” “believes,” “estimates,” “forecasts,” or variations of such words and phrases, including the negative forms thereof, as well as terms such as “pro forma” and “scheduled,” and similar expressions that refer to future events or outcomes.

    Forward-looking statements in this release, including, without limitation, statements relating to the pursuit of profitable growth initiatives, anticipated timing, review, completion, and filing of the Company’s first quarter financial statements, the Annual Filings, the Company’s ongoing operations, and the expected duration of the MCTO, involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those expressed or implied by such statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated.

    Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking information contained herein, except as required by applicable securities laws.

    THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

    1 Calculated in accordance with the applicable conversion price defined within the restructured debentures

    The MIL Network –

  • MIL-OSI: Gran Tierra Energy Inc. Reports First Quarter 2025 Results, Record Production and Continued Exploration Success

    Source: GlobeNewswire (MIL-OSI)

    • Achieved Record Total Company Average Quarterly Production of 46,647 boepd
    • Ecuador Exploration Success Continues with Additional Oil Discoveries in Iguana Block
    • Solid Balance Sheet, Exited the Quarter with $77 Million in Cash Following Active Capital Campaign, Paid Down $27 Million of Debt
    • Additional Liquidity Secured with Signing of New $75 Million Credit Facility

    CALGARY, Alberta, May 01, 2025 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) announced the Company’s financial and operating results for the quarter ended March 31, 2025 (“the Quarter”) and provided an operational update. All dollar amounts are in United States (“U.S.”) dollars and all reserves and production volumes are on an average working interest before royalties (“WI”) basis unless otherwise indicated. Production is expressed in barrels (“bbl”) of oil equivalent (“boe”) per day (“boepd” or “boe/d”) and are based on WI sales before royalties. For per boe amounts based on net after royalty (“NAR”) production, see Gran Tierra’s Quarterly Report on Form 10-Q filed May 1, 2025.

    Message to Shareholders

    Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: “Our first quarter performance reflects strong operational execution and disciplined financial management. Our front-loaded 2025 capital program, which had up to five rigs active during the quarter, delivered record drilling times and cost efficiencies across our key assets. We continue to generate returns through our share buyback program and ongoing debt reduction. Lowering leverage remains a key priority as we focus on projects which deliver quick cycle returns and maintain flexibility to invest in high-return opportunities across our portfolio. Our focused exploration efforts also continue to deliver successful results, reinforcing the quality of our assets and long-term strategy to create value. With current production of approximately 48,400(2) boe/d and a strong hedge position for the remainder of the year we are well positioned to generate value while remaining resilient amid commodity price volatility.”

    Operational Update:

    • Ecuador
      • Gran Tierra has successfully drilled two additional oil discoveries in Ecuador, the Iguana B1 and Iguana B2 wells on the Iguana Block. The combined wells have an average oil production rate over 30 days of ~1,684 bopd from the U-Sand formation (with a less than 1% watercut), an average API of 28° and 520 standard cubic foot per stock tank barrel of gas-to-oil ratio. The Iguana B1 well was drilled and completed in record time and under budget, establishing a new pace-setting well in Gran Tierra’s Ecuador exploration campaign.
      • The drilling rig has been stacked on the Iguana pad, pending mobilization to the new Conejo pad on the Charapa Block, to resume exploration drilling during the third quarter of 2025.
    • Colombia
      • Gran Tierra successfully drilled the first three of five wells from the Cohembi North Pad during the Quarter. All wells were under budget and drilled 60% faster than the previous operator. These wells represent the Company’s first drilling operations as operator, with the remaining two wells expected to be drilled during the second quarter of 2025. Upon completion of the program, the rig will move to the Costayaco Pad to commence a three well development program during the second quarter of 2025.
      • By the end of the Quarter, the civil, electrical and mechanical field works at Cohembi reached 100% mechanical completion. This project was initiated to facilitate the processing of new production from the Cohembi North Pad at the Cohembi Central Processing Facility.
      • Optimization of the Acordionero field is ongoing through waterflood expansion, which includes facility enhancements, electrical submersible pump upsizing, injector conversions and upgrades to gas-to-power generation. These initiatives are focused on reducing unit costs, offsetting natural declines and improving overall recovery factors. The field continues to perform strongly, with average production of 13,824 boepd in the Quarter. This represents a two percent increase from the fourth quarter of 2024, despite no wells being drilled since the first quarter of 2024. Current production (April 1 – 30, 2025) is approximately 14,500 boepd, a 5% increase from the first quarter of 2025 average, reflecting the strong reservoir response to the execution of our first quarter waterflood management optimization program. The Company continues to see significant development potential at Acordionero and is planning another drilling program of eight to ten wells in 2026 targeting high oil saturation, unswept infill locations.
    • Canada
      • Gran Tierra and its joint venture partner, Logan Energy Corp., successfully drilled and completed two Lower Montney wells at Simonette. These two wells were brought on stream from the 16-13-61-1W6 (“16-13”) pad and completed with a similar optimized Lower Montney completion design as the 13-13-61-1W6 offset well drilled in 2022. After 21 days since being placed on production, the average gross production per well was 674 bbl/d oil, 13 bbl/d NGLs and 767 Mcf/d of gas (814 boe/d at 84% liquids), Gran Tierra has a 50% Working Interest and the wells continue to clean-up. This early production performance surpasses the prior offset well by 80% for the same time period and are exceeding their budgeted type curves. After 21 days since being placed on production, the average gross production per well was 674 bbl/d oil, 13 bbl/d NGLs and 767 Mcf/d of gas (814 boe/d at 84% liquids). Gran Tierra has a 50% Working Interest and the wells continue to clean-up. This early production performance surpasses the prior offset well by 80% for the same time period and are exceeding their budgeted type curves.
      • Gran Tierra successfully acquired 21 sections of prospective land in Central Alberta along the Nisku fairway in March 2025, which adds over 50 potential drilling opportunities to its drilling inventory.
      • At Clearwater, Gran Tierra participated in the successful drilling of two gross (0.5 net) wells during the Quarter, and both wells are estimated to be on stream imminently. The first well drilled was a 4-legged injector to support a water flood pilot in the Marten Hills block, potentially increasing reserves based off nearby analogue waterflood results. The second well (non-op), with 14 legs, was drilled in the Seal block to test the productivity of heavy oil in the Bluesky formation.

    Key Highlights of the Quarter:

    • Production: Gran Tierra’s total average WI production was 46,647 boepd, which was 14% higher than fourth quarter 2024 (“the Prior Quarter”) and 45% higher than the first quarter of 2024. Higher production during the Quarter was due to the Company recognizing three full months of production from Canada and positive exploration well results in Ecuador.
    • Net Income: Gran Tierra incurred a net loss of $19 million, compared to a net loss of $34 million in the Prior Quarter and a net loss of nil in the first quarter of 2024.
    • Adjusted EBITDA(1): Adjusted EBITDA(1) was $85 million compared to $76 million in the Prior Quarter and $95 million in the first quarter of 2024. Twelve-month trailing Net Debt(1) to Adjusted EBITDA(1) was 1.9 times (only accounts for five months of Canadian operations Adjusted EBITDA) and the Company continues to have a long-term target ratio of 1.0 times.
    • Net Cash Provided by Operating Activities: Net Cash Provided by Operating Activities was $73 million ($2.05 per share), up 175% from the Prior Quarter and up 20% from the first quarter of 2024.
    • Funds Flow from Operations(1): Funds flow from operations(1) was $55 million ($1.55 per share), up 25% from the Prior Quarter and down 26% from the first quarter of 2024 as a result of lower oil prices.
    • Cash and Debt: As of March 31, 2025, the Company had a cash balance of $77 million, total debt of $760 million and net debt(1) of $683 million. During the Quarter, the Company repaid at maturity the remaining principal of its 6.25% Senior Notes due in 2025 in an amount of $25 million and repurchased $2 million of its 9.5% Senior Notes due in 2029.
    • Liquidity: In addition to the $77 million cash on hand as of March 31, 2025, the Company currently has approximately $110 million in undrawn credit and lending facilities. The Company has a revolving credit facility agreement in Canada with a borrowing base of C$100.0 million with available commitment of C$50.0 million and is available until October 31, 2025 with a repayment date of October 31, 2026, which may be extended by further periods of up to 364 days, subject to lender approval. On April 16, 2025, the Company announced an additional $75 million reserve-based lending facility in Colombia with a final maturity date in 36 months from the closing date.
    • Share Buybacks: Gran Tierra repurchased 453,050 shares of common stock during the Quarter. From January 1, 2023, to April 29, 2025, the Company repurchased approximately 5.2 million shares, or 15% of shares issued and outstanding on January 1, 2023.

    Additional Key Financial Metrics:

    • Capital Expenditures: Capital expenditures of $95 million were higher than the $79 million in the Prior Quarter and higher than $55 million in the first quarter of 2024 as a result of the addition of the Canadian development program, an active Ecuador exploration program and development activities in the Cohembi field in Colombia during the Quarter. During the Quarter, the Company had three rigs active in Canada, one in Ecuador and one in Colombia. Currently, the Company has one rig active in Colombia.
    • Oil Sales: Gran Tierra generated oil sales of $171 million, up 8% from the first quarter of 2024 as a result of 45% higher sales volumes due to higher production and the tightening of the Castilla, Vasconia and Oriente oil differentials which offset lower Brent pricing. Oil sales increased 16% from the Prior Quarter primarily due to 17% higher sales volumes, a 1% increase in Brent price and lower Castilla, Oriente, and Vasconia oil differentials.
    • South American Quality and Transportation Discounts: The Company’s quality and transportation discounts in South America per bbl were lower during the Quarter at $11.58, compared to $13.94 in the Prior Quarter and $15.36 in the first quarter of 2024. The Castilla oil differential per bbl tightened to $5.34, down from $8.33 in the Prior Quarter and $8.82 in the first quarter of 2024 (Castilla is the benchmark for the Company’s Middle Magdalena Valley Basin oil production). The Vasconia differential per bbl tightened to $2.27, down from $5.02 in the Prior Quarter, and $5.05 in the first quarter of 2024. The Ecuadorian benchmark, Oriente, per bbl was $7.65, down from $9.40 in the Prior Quarter and $8.02 one year ago. The current(2) differentials are approximately $4.94 per bbl for Castilla, $1.87 per bbl for Vasconia, and $7.26 per bbl for Oriente.
    • Operating Expenses: On a per boe basis, operating expenses decreased by 3% when compared to the first quarter of 2024 and the Prior Quarter. Operating expenses increased by 11% to $67 million, compared to the Prior Quarter and increased by 39% from $48 million compared to the first quarter of 2024, primarily due to new Canadian operations and increases in production volumes in Ecuador. The increase in total operating costs is commensurate with the 45% increase in production.
    • Transportation Expenses: The Company’s transportation expenses increased by 62% to $7 million, compared to the Prior Quarter’s transportation expenses of $4 million, and increased by 51% compared to the first quarter of 2024. Transportation expenses were higher due to new Canadian operations and higher sales volumes transported in Ecuador during the Quarter.
    • Operating Netback(1)(3): The Company’s operating netback(1)(3) was $22.70 per boe, up 2% from the Prior Quarter and down 36% from the first quarter of 2024 because of of the addition of the Canadian assets and approximately 50 of Canadian production tied to AECO gas pricing.
    • General and Administrative (“G&A”) Expenses: G&A expenses before stock-based compensation were $2.86 per boe, up from $2.75 per boe in the Prior Quarter due to increased audit fees relating to the acquisition of the Canadian assets, a full quarter of Canadian salaries and increased IT expenses. G&A expenses before stock-based compensation were down from $3.65 per boe, compared to the first quarter of 2024 as a result of higher sales volumes in the Quarter.
    • Cash Netback(1): Cash netback(1) per boe increased to $13.04, compared to $11.90 in the Prior Quarter primarily as a result of transaction costs of $1.20 per boe incurred in the Prior Quarter as a result of the acquisition of the Canadian operations. Compared to one year ago, cash netback(1) per boe decreased by $12.09 from $25.13 per boe as a result of lower operating netback primarily due to lower realized price.

    Gran Tierra Reconfirms Previously Disclosed 2025 Consolidated Guidance and Provides Country Breakdown:

    2025 Budget Low Case Base Case High Case
    Brent Oil Price ($/bbl) 65.00 75.00 85.00
    WTI Oil Price ($/bbl) 61.00 71.00 81.00
    AECO Natural Gas Price ($CAD/thousand cubic feet) 2.00 2.50 3.50
    Production (boepd) 47,000-53,000 47,000-53,000 47,000-53,000
    Operating Netback1,3($ million) 330-370 430-470 510-550
    EBITDA1($ million) 300-340 380-420 460-500
    Cash Flow1($ million) 200-240 260-300 300-340
    Capital Expenditures ($ million) 200-240 240-280 240-280
    Free Cash Flow1($ million) – 20 60
    Number of Development Wells (gross) 8-12 10-14 10-14
    Number of Exploration Wells (gross) 6 6-8 6-8
    Budgeted Costs Costs per boe ($/boe)
    Lifting 12.00-14.00
    Workovers 1.50-2.50
    Transportation 1.00-2.00
    General and Administration 2.00-3.00
    Interest 4.00-4.50
    Current Tax 2.00-3.00
    2025 Budget by Country – Base Case Canada Colombia Ecuador
    Production (kboepd) 18 – 19* 25 – 27 4 – 7
           
    Per Barrel ($/boe)      
    Realized Price 22 – 24 51 – 53 43 – 45
    Operating and Transportation Expense 10 – 12 19 – 21 12 – 14
    Operating Netback 10 – 14 30 – 34 29 – 33

    *Canada’s production is comprised of approximately 50% natural gas, 21% oil and 29% natural gas liquids (“NGL”)

    Financial and Operational Highlights (all amounts in $000s, except per share and boe amounts)

    Consolidated Financial Data Three Months Ended March 31,   Three Months
    Ended
    December 31,
      2025 2024   2024
             
    Net Income (Loss) $(19,280) $(78)   $(34,210)
    Per Share – Basic and Diluted $(0.54) $—   $(1.00)
             
    Oil, Natural Gas and NGL Sales $170,533 $157,577   $147,290
    Operating Expenses (67,354) (48,466)   (60,770)
    Transportation Expenses (6,911) (4,584)   (4,279)
    Operating Netback(1)(3) $96,268 $104,527   $82,241
             
    G&A Expenses Before Stock-Based Compensation $12,143 $10,782   $10,191
    G&A Stock-Based Compensation (Recovery) Expense (517) 3,361   3,331
    G&A Expenses, Including Stock Based Compensation $11,626 $14,143   $13,522
             
    Adjusted EBITDA(1) $85,162 $94,792   $76,168
             
    EBITDA(1) $79,710 $91,891   $65,247
             
    Net Cash Provided by Operating Activities $73,230 $60,827   $26,607
             
    Funds Flow from Operations(1) $55,344 $74,307   $44,129
             
    Capital Expenditures $94,727 $55,331   $78,579
             
    Free Cash Flow(1) $(39,383) $18,976   $(34,450)
             
    Average Daily Production (boe/d)        
    WI Production Before Royalties 46,647 32,242   41,009
    Royalties (8,084) (6,397)   (7,327)
    Production NAR 38,563 25,845   33,682
    Decrease (Increase) in Inventory 461 235   (712)
    Sales 39,024 26,080   32,970
    Royalties, % of WI Production Before Royalties 17% 20%   18%
             
    Cash Netback ($/boe)(1)        
    Average Realized Price before Royalties 48.55 66.40   48.56
    Royalties (8.33) (13.08)   (8.83)
    Average Realized Price 40.22 53.32   39.73
    Transportation Expenses (1.63) (1.55)   (1.15)
    Average Realized Price Net of Transportation Expenses 38.59 51.77   38.58
    Operating Expenses (15.89) (16.40)   (16.39)
    Operating Netback(1)(3) 22.70 35.37   22.19
    G&A Expenses Before Stock-Based Compensation (2.86) (3.65)   (2.75)
    Transaction Costs — —   (1.20)
    Realized Foreign Exchange Gain (Loss) (0.51) (0.49)   0.07
    Cash settlement on derivative instruments 0.10 —   0.30
    Interest Expense, Excluding Amortization of Debt Issuance Costs (4.58) (5.12)   (5.40)
    Interest Income 0.10 0.23   0.34
    Other Gain — —   0.40
    Net Lease Payments 0.04 0.12   0.07
    Current Income Tax Expense (1.95) (1.33)   (2.12)
    Cash Netback(1) $13.04 $25.13   $11.90
             
    Share Information (000s)        
    Common Stock Outstanding, End of Period 35,524 31,401   35,972
    Weighted Average Number of Shares of Common Stock Outstanding – Basic and Diluted 35,777 31,813   34,333
    South American Operational Information Three Months Ended March 31,   Three Months
    Ended
    December 31,
      2025 2024   2024
    Operating Netback(1)(3)        
    Oil Sales $138,671 $157,577   $128,335
    Operating Expenses (50,827) (48,466)   (51,121)
    Transportation Expenses (4,304) (4,584)   (3,607)
    Operating Netback(1)(3) $83,540 $104,527   $73,607
             
    Average Daily Production (boe/d)        
    WI Production Before Royalties 29,686 32,242   29,695
    Royalties (5,844) (6,397)   (5,761)
    Production NAR 23,842 25,845   23,934
    Decrease (Increase) in Inventory 461 235   (712)
    Sales 24,303 26,080   23,222
    Royalties, % of WI Production Before Royalties 20% 20%   19%
             
    Operating Netback ($/boe)(1)(3)        
    Brent $74.98 $81.76   $74.01
    Quality and Transportation Discount (11.58) (15.36)   (13.94)
    Royalties (12.29) (13.08)   (11.94)
    Average Realized Price 51.11 53.32   48.13
    Transportation Expenses (1.59) (1.55)   (1.35)
    Average Realized Price Net of Transportation Expenses 49.52 51.77   46.78
    Operating Expenses (18.73) (16.40)   (19.17)
    Operating Netback(1)(3) $30.79 $35.37   $27.61
    Canadian Operational Information(4) Three Months Ended March 31,   Three Months
    Ended
    December 31,
      2025 2024   2024
    Operating Netback(1)(3)        
    Oil Sales $21,269 $—   $14,832
    Natural Gas Sales 7,561 —   3,546
    NGL Sales 7,997 —   4,193
    Royalties (4,966) —   (3,616)
    Oil, Natural Gas and NGL Sales After Royalties $31,862 $—   $18,955
    Operating Expenses (16,527) —   (9,649)
    Transportation Expenses (2,607) —   (672)
    Operating Netback(1)(3) $12,728 $—   $8,634
             
    Average Daily Production        
    Crude Oil (bbl/d) 3,623 —   2,461
    Natural Gas (mcf/d) 49,860 —   32,814
    NGLs (bbl/d) 5,029 —   3,383
    WI Production Before Royalties (boe/d) 16,961 —   11,314
    Royalties (boe/d) (2,240) —   (1,566)
    Production NAR (boe/d) 14,721 —   9,748
    Sales (boe/d) 14,721 —   9,748
    Royalties, % of WI Production Before Royalties 13% —%   14%
             
    Benchmark Prices        
    West Texas Intermediate ($/bbl) 71.47 77.01   70.42
    AECO Natural Gas Price (C$/GJ) 2.05 1.70   1.56
             
    Average Realized Price        
    Crude Oil ($/bbl) 65.23 —   65.50
    Natural Gas ($/mcf) 1.69 —   1.17
    NGLs ($/bbl) 17.67 —   13.47
             
    Operating Netback ($/boe)(1)(3)        
    Average Realized Price $24.12 $—   $21.69
    Royalties (3.25) —   (3.47)
    Transportation Expenses (1.71) —   (0.65)
    Operating Expenses (10.83) —   (9.27)
    Operating Netback(1)(3) $8.33 $—   $8.30

    (1)Funds flow from operations, operating netback, net debt, cash netback, earnings before interest, taxes and depletion, depreciation and accretion (“DD&A”) (“EBITDA”) and EBITDA adjusted for non-cash lease expense, lease payments, foreign exchange gains or losses, stock-based compensation expense, other gains or losses, transaction costs and financial instruments gains or losses (“Adjusted EBITDA”), cash flow and free cash flow are non-GAAP measures and do not have standardized meanings under generally accepted accounting principles in the United States of America (“GAAP”). Cash flow refers to funds flow from operations. Free cash flow refers to funds flow from operations less capital expenditures. Refer to “Non-GAAP Measures” in this press release for descriptions of these non-GAAP measures and, where applicable, reconciliations to the most directly comparable measures calculated and presented in accordance with GAAP.
    (2) Gran Tierra’s second quarter-to-date 2025 total average differentials and average production are for the period from April 1 to April 30, 2025.
    (3) Operating netback as presented is defined as oil sales less operating and transportation expenses. See the table titled Financial and Operational Highlights above for the components of consolidated operating netback and corresponding reconciliation.
    (4) Gran Tierra entered Canada with the acquisition of i3 Energy which closed October 31, 2024, therefore no comparative data is provided for the corresponding period of 2024.

    Conference Call Information:

    Gran Tierra will host its first quarter 2025 results conference call on Friday, May 2, 2025, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time. Interested parties may access the conference call by registering at the following link: https://register-conf.media-server.com/register/BI0f6a1e0b01bd474992543eb3e6d51c71. The call will also be available via webcast at www.grantierra.com.

    2024 Sustainability Report:

    Gran Tierra has published its 2024 Sustainability Report and is available on the Company website at www.grantierra.com/esg.

    Corporate Presentation:

    Gran Tierra’s Corporate Presentation has been updated and is available on the Company website at www.grantierra.com.

    Contact Information

    For investor and media inquiries please contact:

    Gary Guidry
    President & Chief Executive Officer

    Ryan Ellson
    Executive Vice President & Chief Financial Officer

    +1-403-265-3221

    info@grantierra.com

    About Gran Tierra Energy Inc.
    Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Canada, Colombia and Ecuador and will continue to pursue additional new growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Except to the extent expressly stated otherwise, information on the Company’s website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.

    Gran Tierra’s Securities and Exchange Commission (the “SEC”) filings are available on the SEC website at http://www.sec.gov. The Company’s Canadian securities regulatory filings are available on SEDAR+ at http://www.sedarplus.ca and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    Forward Looking Statements and Legal Advisories:
    This press release contains opinions, forecasts, projections, and other statements about future events or results that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). All statements other than statements of historical facts included in this press release regarding our business strategy, plans and objectives of our management for future operations, capital spending plans and benefits of the changes in our capital program or expenditures, our liquidity and financial condition, and those statements preceded by, followed by or that otherwise include the words “expect,” “plan,” “can,” “will,” “should,” “guidance,” “forecast,” “budget,” “estimate,” “signal,” “progress” and “believes,” derivations thereof and similar terms identify forward-looking statements. In particular, but without limiting the foregoing, this press release contains forward-looking statements regarding: the Company’s leverage ratio target, the Company’s plans regarding strategic investments, acquisitions, including the anticipated benefits and operating synergies expected from the acquisition of i3 Energy, and growth, the Company’s drilling program and capital expenditures and the Company’s expectations of commodity prices, including future gas pricing in Canada, exploration and production trends and its positioning for 2024. The forward-looking statements contained in this press release reflect several material factors and expectations and assumptions of Gran Tierra including, without limitation, that Gran Tierra will continue to conduct its operations in a manner consistent with its current expectations, pricing and cost estimates (including with respect to commodity pricing and exchange rates), the ability of Gran Tierra to successfully integrate the assets and operations of i3 Energy or realize the anticipated benefits and operating synergies expected from the acquisition of i3 Energy, the general continuance of assumed operational, regulatory and industry conditions in Canada, Colombia and Ecuador, and the ability of Gran Tierra to execute its business and operational plans in the manner currently planned.

    Among the important factors that could cause our actual results to differ materially from the forward-looking statements in this press release include, but are not limited to: certain of our operations are located in South America and unexpected problems can arise due to guerilla activity, strikes, local blockades or protests; technical difficulties and operational difficulties may arise which impact the production, transport or sale of our products; other disruptions to local operations; global health events; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including inflation and changes resulting from actual or anticipated tariffs and trade policies, global health crises, geopolitical events, including the conflicts in Ukraine and the Gaza region, or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; changes in commodity prices, including volatility or a prolonged decline in these prices relative to historical or future expected levels; the risk that current global economic and credit conditions may impact oil prices and oil consumption more than we currently predict, which could cause further modification of our strategy and capital spending program; prices and markets for oil and natural gas are unpredictable and volatile; the effect of hedges; the accuracy of productive capacity of any particular field; geographic, political and weather conditions can impact the production, transport or sale of our products; our ability to execute our business plan, which may include acquisitions, and realize expected benefits from current or future initiatives; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the ability to replace reserves and production and develop and manage reserves on an economically viable basis; the accuracy of testing and production results and seismic data, pricing and cost estimates (including with respect to commodity pricing and exchange rates); the risk profile of planned exploration activities; the effects of drilling down-dip; the effects of waterflood and multi-stage fracture stimulation operations; the extent and effect of delivery disruptions, equipment performance and costs; actions by third parties; the timely receipt of regulatory or other required approvals for our operating activities; the failure of exploratory drilling to result in commercial wells; unexpected delays due to the limited availability of drilling equipment and personnel; volatility or declines in the trading price of our common stock or bonds; the risk that we do not receive the anticipated benefits of government programs, including government tax refunds; our ability to access debt or equity capital markets from time to time to raise additional capital, increase liquidity, fund acquisitions or refinance debt; our ability to comply with financial covenants in our indentures and make borrowings under our credit agreements; and the risk factors detailed from time to time in Gran Tierra’s periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption “Risk Factors” in Gran Tierra’s Annual Report on Form 10-K for the year ended December 31, 2024 filed February 20, 2024 and its other filings with the SEC. These filings are available on the SEC website at http://www.sec.gov and on SEDAR+ at www.sedarplus.ca.

    The forward-looking statements contained in this press release are based on certain assumptions made by Gran Tierra based on management’s experience and other factors believed to be appropriate. Gran Tierra believes these assumptions to be reasonable at this time, but the forward-looking statements are subject to risk and uncertainties, many of which are beyond Gran Tierra’s control, which may cause actual results to differ materially from those implied or expressed by the forward looking statements. The risk that the assumptions on which the 2024 outlook are based prove incorrect may increase the later the period to which the outlook relates. All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Actual results may vary materially from the expected results expressed in forward-looking statements. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.

    The estimates of future production (aggregate and per country), EBITDA, net cash provided by operating activities (described in this press release as “cash flow”), free cash flow, certain prices and expenses (aggregate and per country) and operating netback (aggregate and per country) may be considered to be future-oriented financial information or a financial outlook for the purposes of applicable Canadian securities laws. Financial outlook and future-oriented financial information contained in this press release about prospective financial performance, financial position or cash flows are provided to give the reader a better understanding of the potential future performance of the Company in certain areas and are based on assumptions about future events, including economic conditions and proposed courses of action, based on management’s assessment of the relevant information currently available, and to become available in the future. In particular, this press release contains projected operational and financial information for 2025. These projections contain forward-looking statements and are based on a number of material assumptions and factors set out above. Actual results may differ significantly from the projections presented herein. The actual results of Gran Tierra’s operations for any period could vary from the amounts set forth in these projections, and such variations may be material. See above for a discussion of the risks that could cause actual results to vary. The future-oriented financial information and financial outlooks contained in this press release have been approved by management as of the date of this press release. Readers are cautioned that any such financial outlook and future-oriented financial information contained herein should not be used for purposes other than those for which it is disclosed herein. The Company and its management believe that the prospective financial information has been prepared on a reasonable basis, reflecting management’s best estimates and judgments, and represent, to the best of management’s knowledge and opinion, the Company’s expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results.

    Non-GAAP Measures

    This press release includes non-GAAP financial measures as further described herein. These non-GAAP measures do not have a standardized meaning under GAAP. Investors are cautioned that these measures should not be construed as alternatives to net income or loss, cash flow from operating activities or other measures of financial performance as determined in accordance with GAAP. Gran Tierra’s method of calculating these measures may differ from other companies and, accordingly, they may not be comparable to similar measures used by other companies. Each non-GAAP financial measure is presented along with the corresponding GAAP measure so as to not imply that more emphasis should be placed on the non-GAAP measure.

    Operating netback, as presented, is defined as oil sales less operating and transportation expenses. See the table entitled Financial and Operational Highlights above for the components of consolidated operating netback and corresponding reconciliation.

    Cash netback as presented is defined as net income or loss adjusted for DD&A expenses, deferred tax expense or recovery, stock-based compensation expense or recovery, amortization of debt issuance costs, non-cash lease expense, lease payments, unrealized foreign exchange gain or loss, other gain or loss and unrealized derivative instruments loss. Management believes that operating netback and cash netback are useful supplemental measures for investors to analyze financial performance and provide an indication of the results generated by Gran Tierra’s principal business activities prior to the consideration of other income and expenses. A reconciliation from net income or loss to cash netback is as follows:

      Three Months Ended March 31,   Three Months
    Ended
    December 31,
    Cash Netback – (Non-GAAP) Measure ($000s)   2025     2024       2024  
    Net Loss $ (19,280 ) $ (78 )   $ (34,210 )
    Adjustments to reconcile net loss to cash netback        
    DD&A expenses   72,202     56,150       63,406  
    Deferred tax (recovery) expense   (4,712 )   13,479       4,444  
    Stock-based compensation (recovery) expense   (517 )   3,361       3,331  
    Amortization of debt issuance costs   3,833     3,306       3,743  
    Non-cash lease expense   1,736     1,413       1,759  
    Lease payments   (1,567 )   (1,058 )     (1,495 )
    Unrealized foreign exchange loss (gain)   1,687     (2,266 )     (223 )
    Other loss   52     —       —  
    Unrealized derivative instrument loss   1,910     —       3,374  
    Cash netback $ 55,344   $ 74,307     $ 44,129  

    EBITDA, as presented, is defined as net income or loss adjusted for DD&A expenses, interest expense and income tax expense or recovery. Adjusted EBITDA, as presented, is defined as EBITDA adjusted for non-cash lease expense, lease payments, foreign exchange gain or loss, stock-based compensation expense, transaction costs, other gain or loss and unrealized derivative instruments loss. Management uses this supplemental measure to analyze performance and income generated by our principal business activities prior to the consideration of how non-cash items affect that income, and believes that this financial measure is useful supplemental information for investors to analyze our performance and our financial results. A reconciliation from net income or loss to EBITDA and adjusted EBITDA is as follows:

      Three Months Ended March 31,   Three Months
    Ended
    December 31,
    EBITDA – (Non-GAAP) Measure ($000s)   2025     2024       2024  
    Net Loss $ (19,280 ) $ (78 )   $ (34,210 )
    Adjustments to reconcile net loss to EBITDA and Adjusted EBITDA        
    DD&A expenses   72,202     56,150       63,406  
    Interest expense   23,235     18,424       23,752  
    Income tax expense   3,553     17,395       12,299  
    EBITDA $ 79,710   $ 91,891     $ 65,247  
    Non-cash lease expense   1,736     1,413       1,759  
    Lease payments   (1,567 )   (1,058 )     (1,495 )
    Foreign exchange loss (gain)   3,838     (815 )     (496 )
    Stock-based compensation expense   (517 )   3,361       3,331  
    Transaction costs   —     —       4,448  
    Other loss   52     —       —  
    Unrealized derivative instrument loss   1,910     —       3,374  
    Adjusted EBITDA $ 85,162   $ 94,792     $ 76,168  

    Funds flow from operations, as presented, is defined as net income or loss adjusted for DD&A expenses, deferred tax expense or recovery, stock-based compensation expense, amortization of debt issuance costs, non-cash lease expense, lease payments, unrealized foreign exchange gain, other gain or loss and unrealized gain or loss on derivative instruments. Management uses this financial measure to analyze performance and income or loss generated by our principal business activities prior to the consideration of how non-cash items affect that income or loss, and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. Free cash flow, as presented, is defined as funds flow from operations adjusted for capital expenditures. Management uses this financial measure to analyze cash flow generated by our principal business activities after capital requirements and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. A reconciliation from net income or loss to both funds flow from operations and free cash flow is as follows:

      Three Months Ended March 31,   Three Months
    Ended
    December 31,
    Funds Flow From Operations –
    (Non-GAAP) Measure ($000s)    		   2025     2024       2024  
    Net Loss $ (19,280 ) $ (78 )   $ (34,210 )
    Adjustments to reconcile net loss to funds flow from operations        
    DD&A expenses   72,202     56,150       63,406  
    Deferred tax (recovery) expense   (4,712 )   13,479       4,444  
    Stock-based compensation (recovery) expense   (517 )   3,361       3,331  
    Amortization of debt issuance costs   3,833     3,306       3,743  
    Non-cash lease expense   1,736     1,413       1,759  
    Lease payments   (1,567 )   (1,058 )     (1,495 )
    Unrealized foreign exchange loss (gain)   1,687     (2,266 )     (223 )
    Other loss   52     —       —  
    Unrealized derivative instrument loss   1,910     —       3,374  
    Funds flow from operations $ 55,344   $ 74,307     $ 44,129  
    Capital expenditures $ 94,727   $ 55,331     $ 78,579  
    Free cash flow $ (39,383 ) $ 18,976     $ (34,450 )

    Net debt as of March 31, 2025, was $683 million, calculated using the sum of the aggregate principal amount of 7.75% Senior Notes, and 9.50% Senior Notes outstanding, excluding deferred financing fees, totaling $760 million, less cash and cash equivalents of $77 million.

    Presentation of Oil and Gas Information

    Boes have been converted on the basis of six thousand cubic feet (“Mcf”) natural gas to 1 boe of oil. Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of oil as compared with natural gas is significantly different from the energy equivalent of six to one, utilizing a boe conversion ratio of 6 Mcf: 1 boe would be misleading as an indication of value.

    References to a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume. Gran Tierra’s reported production is a mix of light crude oil and medium heavy crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids for which there is no precise breakdown since the Company’s sales volumes typically represent blends of more than one product type. Well test results should be considered as preliminary and not necessarily indicative of long-term performance or of ultimate recovery. Well log interpretations indicating oil and gas accumulations are not necessarily indicative of future production or ultimate recovery. If it is indicated that a pressure transient analysis or well-test interpretation has not been carried out, any data disclosed in that respect should be considered preliminary until such analysis has been completed. References to thickness of “oil pay” or of a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume.

    This press release contains certain oil and gas metrics, including operating netback and cash netback, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. These metrics are calculated as described in this press release and management believes that they are useful supplemental measures for the reasons described in this press release.

    Such metrics have been included herein to provide readers with additional measures to evaluate the Company’s performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.

    References in this press release to “potential drilling opportunities” are references to unbooked locations for which there are no reserves or resources attributed by any of the Company’s qualified reserves auditors or evaluators but which the Company internally estimates can be drilled based on current land holdings, industry practice regarding well density, and internal review of geologic, geophysical, seismic, engineering, production and resources information. There is no certainty that the Company will drill any particular locations, or that drilling activity on any locations will result in additional reserves, resources or production. Locations on which the Company in fact drills wells will ultimately depend upon the availability of capital, regulatory approvals, seasonal restrictions, commodity prices, costs, actual drilling results, additional reservoir information and other factors. There is a higher level of risk associated with locations that are potential drilling opportunities and not “booked” locations to which any qualified reserves evaluator or auditor may have attributed reserves or resources. The Company generally has less information about reservoir characteristics associated with locations that are potential drilling opportunities and, accordingly, there is greater uncertainty whether wells will ultimately be drilled in such locations and, if drilled, whether they will result in additional reserves, resources or production.

    The MIL Network –

  • MIL-OSI USA: VIDEO: Lummis Speaks on Senate Floor About First 100 “Transformational” Days of the Trump Administration

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    Washington, D.C. — This week, Senator Cynthia Lummis (R-WY) took to the Senate floor to highlight the completion of President Trump’s first 100 “transformational” days back in office. In the remarks, Senator Lummis discusses how President Trump has revitalized American energy independence, cut wasteful government spending, supported innovative digital asset policies, protected female sports, and restored America’s rightful leadership position around the world.

    Watch and listen to Senator Lummis’ remarks here.

    A transcript of Senator Lummis’ remarks is below:  

    ——–

    “Mr. President – Today, President Trump completes his first 100 days of his return to the White House. And it’s been nothing short of transformational. 

    “Under President Trump and Vice President Vance’s leadership, we are witnessing the rapid implementation of campaign promises that are already reshaping America’s policy landscape. 

    “When I go home to Wyoming each weekend, people approach me everywhere – from restaurants to the feed store – eager to discuss the positive changes happening in Washington. The overwhelming sentiment is enthusiasm for what President Trump is accomplishing for everyday Americans.

    “For example, on day one, President Trump, restored the dignity of men and women as biologically distinct sexes. It is hard to believe he had to do that, but indeed he did. One of the administration’s first major actions was signing an executive order directing federal agencies to recognize biological sex in athletic competition. The left spent the past four years gaslighting Americans and making the failed argument that biological males should now be competing in women’s sports in the name of “fairness.” Within a few weeks of taking office, President Trump tackled this issue and made it clear that this administration won’t support the left’s attacks on female athletes. 

    “I believe this is the women’s rights issue of our time, and I’m grateful for President Trump’s leadership. For some people my age we spent so many years trying to exercise our rights under Title IX and other rights to recognize women’s rights only to have them swept under the rug and disregarded by the left, requiring that women not only compete against men but have them in their locker rooms in what were uncomfortable and sometimes unsafe circumstances. President Trump recognized this and thankfully he has put that issue to rest for a while.

    “President Trump is also delivering on his promise to unleash American energy dominance. A few weeks ago, I joined President Trump and some of my colleagues at the White House for his signing of an executive order that starts to reverse the Biden and Obama administrations’ anti-coal agenda. For energy states like Wyoming, the official lifting of the unconstitutional coal moratorium represents a significant economic opportunity for western states. 

    “By removing unnecessary restrictions on energy extraction, the administration has signaled its commitment to blue-collar jobs, cheaper energy for American families, and a new era of energy dominance. Joe Biden and his administration did not care about the impact of their regulations on working-class people; the Trump administration does care, and they are continuing to take actions that will help Americans and our amazing energy communities. Wyoming exports 12 times more energy than it consumes and much of that is in the form of hydrocarbons. Each and every year for years after the Clean Air Act passed, we were producing more energy and producing cleaner air. These things can happen simultaneously and it’s because of yankee ingenuity, it’s because we know how to do things better, all the time. We don’t have to accept the status quo when it comes to energy dominance. They were certain things in the Biden Administration that forced something called “environmental justice” an absolutely trumped up, dreamed up, idea that we can’t have clean energy and abundant energy at the same time. That’s a totally wrong-headed approach to what has always been a great American tradition of ingenuity and entrepreneurs who can take a problem and solve it. There is such a thing as clean air that can be produced from coal and natural gas, in particular. I am proud that my state is part of that, I am proud that President Trump recognizes it and that he has taken steps to restore our statutory ability to produce both clean air and abundant hydrocarbon energy simultaneously.  

    “Perhaps the most dramatic turnaround has been at the southern border. Where the Biden administration created chaos, President Trump, has restored order. Through multiple executive actions – signing the Laken Riley Act, ending “catch-and-release,” reimplementing “remain in Mexico,” and more—we’ve seen border encounters plummet from nearly 380,000 in February and March last year to just 22,000 plus a few during the same period this year.

    “The people of Wyoming are grateful to have a president who cares about securing our border and deporting those who are not here legally. Especially those from gangs that are causing unsafe communities, horrible crimes perpetuated on the American people, all unnecessarily if we’d only followed the laws that were in existence and the statutes that were in existence all along. Those laws that President Biden ignored and that President Trump is following and implementing.

    “For decades, America’s leaders have failed our country when it comes to fiscal responsibility. We in this very chamber are partly responsible for that.

    “Our $36 trillion national debt represents a real and present threat to America’s future. We all know it’s unsustainable and yet after COVID, we never went back to pre-covid spending levels. We have kept spending at post-covid highs, even though the money spent during the COVID years is no longer necessary in our now more growing and robust post-covid economy. Most taxpayers don’t realize their hard-earned dollars primarily service this massive debt through interest payments rather than funding national defense and essential services. That’s why I strongly support President Trump’s creation of the Department of Government Efficiency (DOGE). It was done through a provision in Obamacare and it’s subsequent ability to gain efficiencies through efforts that computers can assist us with. Nobody knows better how to do it than people who have voluntarily participated through their expertise and ability to identify waste, fraud, and abuse using the Department of Government Efficiency and their remarkable skills with computers to ferret out waste, fraud, and abuse.

    “Elon Musk and the DOGE team have already identified a huge number of wasteful and abusive expenditures that don’t benefit American families. All of us should be proud, in both parties, that the rhetoric that we used over the years that we are going to pay for things by ferreting out waste, fraud, and abuse and then after elected don’t even try to find waste, fraud, and abuse has finally come to an end. Elon Musk and his team have found true waste, fraud, and abuse in government and is identifying it so cabinet secretaries can deal with it in their respective agencies. That is exactly the kind of fiscal discipline that we value in Wyoming, that we all should value as Americans. 

    “After years of the Biden administration’s unbridled hostility toward digital assets and cryptocurrency, President Trump is fulfilling his promise to lead the most pro-digital asset administration in history. And I could not be more proud. We know that we are moving into a digital future, a digital economy. It is something that we should embrace, it’s something that we can include into a new modern 21st century economy. It is not something to fear. But it is something that cries for consumer protections and our incredible ability that we have as agencies to disclose matters that should be disclosed to investors and to allow innovation where it makes our ability to do business internationally faster, cheaper, and more responsible through the ledgers of blockchain incredible abilities to send money all over the world fast and inexpensively. This helps regular everyday Americans avoid the tremendous friction that’s in the banking system that costs taxpayers money and it costs taxpayers time and allows us to do business all over the world in a much less expensive and robust way, what a blessing to have an administration that sees the future in this way, that understands the innovation that is at our fingertips that we can use to go forward in a true 21st century digital economy. I am particularly pleased with President Trump’s support for my Strategic Bitcoin Reserve initiative, which will address our national debt while securing America’s position as the global leader in financial innovation. As Bitcoin comes into more usage, it’s use makes the whole system more secure, more robust, and more capable of serving our needs all over the world. We should be the global leader of this fantastic new ledger-based asset that is in a digital format that is going to be transformative of everyday economy and puts the everyday American, in fact, the everyday worker all over the world in control of their own money. What a wonderful blessing for hardworking people all over the world to have this great new technology and to have America lead the way in implementing this wonderful, wonderful innovation.

    “Here in the Senate, we have confirmed 54 of President Trump’s cabinet and sub-cabinet nominees. It has required some long hours, many in the middle of the night must to our consternation, but our work is far from complete.

    “The Democrats’ agenda threatens to impose crushing tax increases on hardworking Wyoming families and our local small businesses. If the tax cuts that were implemented under President Trump’s first administration allow to expire, it will create the largest tax increase in history at a time when businesses need the innovation that allows our economy to grow. That can come from a robust and fair tax system. This is something that I look forward to assisting my colleagues in this body to implement in a permanent form and using our current standard practices. 

    “Following years of punishing inflation under the Biden administration, our communities and working families cannot shoulder any additional financial strain. Keeping our tax code as is and making it permanent is yet another way of implementing advantages to local working economies. It also just delights me that President Trump identified just real working Americans who are struggling to make ends meet, who are living paycheck to paycheck, and tried to identify ways to tax advantage their lives. For example, no tax on tips, no tax on social security, no tax on overtime hours, these are things for regular, everyday working people. Some people alleged that President Trump is trying to help his billionaire buddies, I’m not seeing that at all. I’m seeing a President that really gets the everyday working American and wants to make sure that as they live paycheck to paycheck and try to plan for their families that there is some relief in store with regard to his proposals for taxes. 

    “These first 100 days of President Trump’s return to office represent just the opening chapter of America’s Golden Era. Already, his administration has made remarkable progress – securing our southern border, revitalizing American energy independence, cutting wasteful government spending, supporting innovative digital asset policies, and restoring America’s rightful leadership position globally. We know even today that as countries are renegotiating their trade policies and tariff policies with us that there is a newfound desire to find a level playing field, reciprocal trade agreements that allow for some of our products to go into their economies in ways that acknowledge that the United States has been globally at a trade disadvantage, and to try and repair some of those long practices where the United States was participating in free trade and other countries were not. It’s time to make it all fair trade. And I applaud President Trump’s desires to do that and hopefully soon, so that we can get some of the turmoil associated with these important changes to our economy behind us and restore stability in our economy in our everyday lives. 

    “I anticipate the next 100 days will bring equally significant achievements, and I feel deeply privileged to work alongside this administration, and this president. I served fourteen years in the Wyoming legislature all with Democrat governors. I have served twelve years in Congress all with Democrat presidents. This is the first time in my entire life that I have legislatively served with a president of my own party. It’s refreshing. It’s delightful. And it’s even on occasion, fun. I feel so privileged to be here with a Republican president who is delivering meaningful results to the people of Wyoming and our great nation.

    “Mr. Chairman – I yield back the floor. Thank you!”

    MIL OSI USA News –

  • MIL-OSI USA: Lummis, Hagerty, Tim Scott Celebrate Expedited Vote on Historic Digital Asset Legislation

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    May 1, 2025

    Washington, D.C.— U.S. Senator Cynthia Lummis (R-WY) joined Senator Bill Hagerty (R-TN) and Banking Committee Chairman Senator Tim Scott (R-SC) in praising Senate Majority Leader Thune on expediting a vote on the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act which establishes a clear regulatory framework for payment stablecoins. 

    “Our landmark stablecoin legislation is a huge victory for the digital asset industry and a critical step in securing our nation’s financial future,” said Lummis. “The GENIUS Act strikes the balance of establishing proper guardrails that protect consumers while preserving financial innovation and America’s dollar dominance in the global financial system. President Trump and Leader Thune’s decision to bring this important legislation to the floor demonstrates their commitment to maintaining U.S. leadership in financial services while keeping digital asset companies and jobs onshore. I want to thank Senator Hagerty and Chairman Scott for their leadership on this and look forward to getting this legislation across the finish line.”

    “The GENIUS Act is a critical first step towards delivering on President Trump and the American people’s mandate to advance a regulatory framework for digital assets —and will protect consumers and expand financial inclusion across the country,” said Scott. “I look forward to voting for the bill on the floor and the Senate taking historic action to provide the industry with the clarity it deserves.” 

    “The GENIUS Act establishes a clear, pro-growth, and secure regulatory framework to modernize our payments system and cement U.S. dollar dominance,” said Hagerty. “I look forward to passing the GENIUS Act in short order to keep digital asset innovation in America, protect customers, and make sure foreign companies are playing by the same rules.” 

    MIL OSI USA News –

  • MIL-OSI USA: Ricketts Leads Resolution Announcing Renewable Fuels Month

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)

    WASHINGTON, D.C. – Today, U.S. Senator Pete Ricketts (R-NE), a member of the Senate Environment and Public Works Committee, led a bipartisan resolution to designate May 2025 as Renewable Fuels Month in America. Ricketts is a longtime champion of renewable fuels.

    “Renewable fuels like ethanol and biodiesel are a win for Nebraska and a win for America,” said Senator Ricketts. “They save consumers money, support Nebraska agriculture, protect our environment, and promote American energy independence. I appreciate the bipartisan support for this resolution and call on all Americans to choose renewable fuels.”

    “I’ve always been a proud supporter of renewable fuels like ethanol and biodiesel,” said Senator Fischer. “Not only do they expand markets for Nebraska’s farmers and lower prices at the pump for consumers, but they play a vital role in achieving America’s energy independence. I want to thank Senator Ricketts for leading the charge on this important resolution in the U.S. Senate.”

    “With President Trump back in the White House, America is set to become energy dominant, and biofuels will make up an important part of that equation. Our resolution recognizes the power of renewable fuels and outlines the great advantages they bring to the table, including boosting the domestic market for farmers and adding jobs and economic vitality in the Heartland. With Iowa continuing to lead the nation in renewable fuels, our resolution also recognizes the importance of rural communities and thanks the hard-working men and women who get these products to market,” said Senator Grassley.

    “Renewable fuels are an important part of American energy, and I’m proud to join my colleagues in designating this month as Renewable Fuels Month,” said Senator Marshall. “By supporting homegrown energy sources like ethanol and biodiesel, we are creating stronger markets for Kansas farmers, cleaner air for our communities, and a more secure future for our state and nation.”

    “Renewable fuels bolster our domestic energy production and move America towards energy independence,” said Senator Ernst. “I’m proud to support this resolution to designate May as ‘Renewable Fuels Month’ and continue to advocate for producers who deliver our homegrown, Iowa fuel to consumers and drive down prices at the pump.”

    “Iowa’s biofuel industry is a national leader because we trust our farmers and fuel producers to drive energy innovation,” said Rep. Nunn, who leads companion legislation in the U.S. House of Representatives. “Recognizing May as Renewable Fuels Month highlights how renewable biofuels are powering America’s energy growth, strengthening our energy independence, and fueling a stronger future for Iowa’s farmers and families.”

    “Nebraska’s farmers, ranchers, and producers help power America with clean, homegrown energy that strengthens our economy and communities,” said Dawn Caldwell, Executive Director of Renewable Fuels Nebraska. “Renewable Fuels Nebraska is thrilled to celebrate them this Renewable Fuels Month, and we’re deeply grateful for Senator Ricketts’ steadfast leadership in both Lincoln and Washington, D.C. on behalf of our state and our industry. His resolution shines a well-deserved spotlight on the men and women who fuel the Good Life and beyond.”

    Co-sponsors of the bill include U.S. Senators Tina Smith (D-MN), Chuck Grassley (R-IA), Joni Ernst (R-IA), Deb Fischer (R-NE), Roger Marshall (R-KS), and Jerry Moran (R-KS).

    The text of the resolution can be found here.

    MIL OSI USA News –

  • MIL-OSI USA: Gillibrand Slams Trump Administration For Making Seniors More Vulnerable To Financial Frauds And Scams

    US Senate News:

    Source: United States Senator for New York Kirsten Gillibrand
    In 2023, More Than 4,300 Older New Yorkers Were Victims of Fraud; Victims Lost Over $200 Million;
    Trump Is Firing The Federal Regulators Who Help Older Adults Fight Frauds and Scams
    Today, U.S. Senator Kirsten Gillibrand, the top-ranking Democrat on the Senate Aging Committee, held a virtual press conference highlighting Trump administration policies that are leaving senior citizens vulnerable to financial fraud. 
    President Trump is working to dismantle the Consumer Financial Protection Bureau (CFPB), a federal agency that prevents Americans from getting scammed by big banks and corporations and responds to millions of consumer complaints each year. He has attempted to fire nearly 90% of the agency’s staff, including all but one employee of the CFPB’s Office of Financial Protection of Older Americans. Older Americans are disproportionately the targets of scams and fraud; in 2023 alone, Americans over age 60 lost $3.4 billion to scams. Without the CFPB’s financial education and counseling, coordination with other agencies, and enforcement support activity, they will be left even more vulnerable to exploitation. 
    “Since its creation after the 2008 financial crisis, the CFPB has provided over $21 billion in compensation and relief to Americans impacted by financial scams, frauds, and wrongdoing,” said Senator Gillibrand.“Now, President Trump is trying to shutter the agency and eliminate the support and resources it offers to seniors, putting them at risk of losing their savings or even plunging them into debt. I will be doing everything in my power to stop this ill-considered and illegal shutdown from moving forward.” 
    The CFPB’s Office of Financial Protection of Older Americans helps educate older Americans about common scams that target seniors and provides a variety of resources to help them navigate medical billing and debt, reverse mortgages, the death of a spouse, and more. 
    The effort to shut down the CFPB is just the latest of President Trump’s attacks on seniors’ financial wellbeing. He has attempted to shut down Social Security field offices, cut thousands of staff, and eliminate phone support – making it harder for seniors to access the benefits they have spent a lifetime earning. The administration has also paused regulations on inaccurate credit reporting that would protect victims of elder abuse. 
    The full text of Senator Gillibrand’s letter to the Acting Director of the CFPB is available here or below: 
    Acting Director
    Consumer Financial Protection Bureau
    1700 G St. NW
    Washington, DC 20552
    Dear Acting Director Vought,
    We write with grave concerns about illegal actions you are taking in your acting role at the Consumer Financial Protection Bureau (CFPB). Last week, you tried to fire nearly all of the agency’s remaining 1,700 employees—the staff responsible for fulfilling the CFPB’s mission and statutory requirements to prevent Americans from getting scammed by big banks and giant corporations. Your hasty and unjustified mass firings are an illegal shutdown of the CFPB that will leave it unable to conduct agency actions that are required by law.
    You directed the gutting of entire divisions—including departments created by Congress to protect service members and older Americans—attempting to leave a shell of only 200 employees to supervise and examine large financial institutions across the country, respond to millions of consumer complaints, answer the phone for hundreds of thousands of people seeking help, monitor emergency financial risks, and run all of the agency’s other operations. This rush to dismantle the CFPB without any careful analysis of the impact on its work is not only illegal, it also defies a court order prohibiting you from shutting down the agency and interfering with its statutorily required responsibilities.
    A bipartisan majority in Congress created the CFPB as part of the Dodd-Frank Act in the wake of the 2008 financial crisis. Since its creation, the CFPB has returned over $21 billion to Americans cheated by giant companies and has been the primary federal regulator supervising and examining the largest financial institutions across the country for compliance with consumer financial protection laws. Congress authorized the CFPB to play this role and required it to perform more than 80 specific functions to protect consumers and our economy from the types of rampant consumer abuse that set off the Great Recession. It is not possible for your proposed skeleton crew of CFPB employees to conduct anything close to all of those congressionally mandated activities to protect consumers. To take just a few examples, your planned cuts include:
    •      Slashing staff so just 16 employees would be responsible for addressing millions of complaints from scammed consumers. Under 12 U.S.C. 5493(b)(3) and 5511(c), the CFPB must maintain an office for collecting, investigating, and addressing complaints from consumers about financial products and services. Specifically, the law states that the Director shall establish a unit whose functions shall include establishing a single, tollfree telephone number, a website, and a database or utilizing an existing database to facilitate the centralized collection of, monitoring of, and response to consumer complaints regarding consumer financial products or services.” 
    In 2024 alone, CFPB received more than 2.7 million complaints, routed more than 100,000 complaints to other regulators, directed more than 100,000 complaints to companies, and oversaw the vendor responsible for handling more than 40,000 calls per month.6 But according to court filings, you have slashed the staff in that responsible section of the CFPB from approximately 135 to 16 people (and did not consult the head of the Office of Consumer Response to determine how to continue fulfilling the agency’s statutory responsibilities). In fact, the head of that office said that after the staff cuts, “the Office will be incapable of performing its statutory duties.”
    •      Wiping out the office required to help members of our military, leaving just one employee responsible for assisting thousands of service members and their families. Under 12 U.S.C. 5493(e), the Director “shall establish an Office of Service Member Affairs, which shall be responsible for developing and implementing initiatives for service members and their families.” These initiatives must include efforts to “educate and empower service members and their families to make better informed decisions regarding consumer financial products and services,” “monitor complaints by service members and their families and responses to those complaints by the Bureau or other appropriate Federal or State agency” and “coordinate efforts among Federal and State agencies . . . regarding consumer protection measures relating to consumer financial products and services offered to, or used by, service members and their families.”
    There are more than two million service members in the United States. In 2023, service members and their families submitted nearly 84,600 complaints to the CFPB, a 27% increase from 2022 and a 98% increase from 2021. But according to court filings, you have gutted the entire office so it will be staffed by a single person.
    •      Eliminating support for older Americans, leaving just one employee focused on the tens of millions of seniors who are disproportionately targeted by scams and fraud. Under 12 U.S.C. 5493(g), the CFPB must maintain an “Office of Financial Protection for Older Americans” that is “headed by an assistant director” and must “facilitate the financial literacy of [seniors] on protection from unfair, deceptive, and abusive practices and on current and future financial choices.” The office must specifically monitor certifications of financial advisors, conduct research to identify best practices for counseling seniors about personal financial management, develop goals for financial literacy programs, coordinate consumer protection efforts with other federal and state regulators, and work with outside organizations involved with assisting seniors.
    There are roughly 62 million adults aged 65 and older in the United States. According to the FBI, older Americans are disproportionately the targets of scams and fraud; these crimes against Americans over age 60 caused $3.4 billion in losses in 2023. The average older fraud victim lost $33,915 in 2023.But according to court filings, you have eliminated all but one position in the Office of Financial Protection for Older Americans.
    •      Gutting the capacity to supervise hundreds of giant financial institutions and to enforce the law. Under 12 U.S.C. 5514(b) and 5515, the CFPB has exclusive authority to supervise banks with more than $10 billion in assets—along with all nonbank lenders—to ensure they are complying with federal consumer financial laws and to assess risks they may pose to consumers and the broader market for consumer financial products. The Chair of the Federal Reserve confirmed earlier this year that the CFPB is the only federal regulator examining giant banks to ensure they are following federal consumer financial laws. The CFPB is responsible for supervising more than 180 banks and bank affiliates as well as many nonbank lenders that service more than 55% of the U.S. mortgage market. But according to court filings, you have slashed the staff responsible for this nationwide supervision of hundreds of institutions from 487 to just 50 employees, with only 50 additional people remaining from the 248 who were previously assigned to pursue legal action when the CFPB discovers illegal activity or violations of consumer protection laws.
    •      Dismantling the office responsible for monitoring developments in our markets that could crash our economy again. Under 12 U.S.C. 5493(b)(1), the CFPB must maintain a research unit to analyze and report on trends in consumer financial products and services, including on consumer understanding of costs, risks and benefits of those products; the use of disclosures; and access to fair and affordable credit for traditionally underserved communities. Under 12 U.S.C. 5499, the CFPB must maintain public access to all published data sets. Under 12 U.S.C. 5512(c), it must actively monitor and issue reports on emerging risks to consumers. Under 12 U.S.C. 5106(a)(1), 2809(a), and 2809(c), it must also help maintain a registration system for mortgage loan originators; compile statistics, on an ongoing basis, on mortgage issuance; and make mortgage issuance data available to the public. But according to court filings, your cuts would slash the research unit from 208 to 22 staff and eliminate all 10 current employees of the data office.
    •      Eliminating almost 90% of the agency that has returned $21 billion to scammed consumers and families. The examples above only illustrate the broader ways in which you are dismantling the CFPB, where you plan to leave a single person responsible for the Office of Fair Lending and Equal Opportunity, a single person in the Office of Civil Rights, a Private Education Loan Ombudsman with no staff, no Chief Data Officer, and almost no one responsible for basic tasks like running CFPB operations—much less fulfilling all of the more than 80 statutory obligations of the agency. You appear to have no plan for ensuring the CFPB meaningfully meets its responsibilities, including many not highlighted here—such as maintaining an Office of Financial Education, working with a Consumer Advisory Board, engaging in community affairs, and regulating mortgage loan servicing.
    In short, it is not possible for the CFPB to perform all of its statutorily required functions with a staff of 200 people left after slashing almost 90% of the agency. Directors from both Republican and Democratic Administrations have all made clear that they needed far more personnel to fulfill their responsibilities under the law. Even during the cuts early in the first Trump Administration, the number of employees never dropped below 1,400—nearly seven times the broken shell that would be left after you have hollowed out the staff. In fact, staffing increased after Director Kathy Kraninger—appointed by President Trump—undertook a “comprehensive planning initiative in 2019 to determine the staffing levels needed to support and execute the Bureau’s priorities in Fiscal Year 2020.”
    Maintaining the staff to perform the agency’s required functions is a critical responsibility. There is no other federal agency that is chiefly responsible for enforcing our federal consumer financial protection laws, and consumers across America will be left to fend for themselves against a broad swath of unchecked financial frauds and scams. Though the Trump Administration filed a document last week with a superficial list of the number of people assigned to some sections of the CFPB, it includes a number of zeroed-out offices and does not explain how the remaining 200 staff will perform each of the agency’s required functions.
    In light of these significant concerns, we request that you provide—by April 30, 2025—a detailed accounting of each of the more than 80 statutory obligations of the CFPB, the number of employees assigned to each of those functions as of December 2024, the number of employees who would be assigned to each function if your rushed reduction in force were to go into effect, the immediate impact of such a reduction on the agency’s ability to perform each function consistent with federal law and federal court orders, and copies of any individualized or particularized analysis of those planned reductions on the agency’s work.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Tillis, Coons, Kiley, and Peters Reintroduce Landmark Legislation to Restore American Innovation

    US Senate News:

    Source: United States Senator for North Carolina Thom Tillis
    WASHINGTON, D.C. – Today, U.S. Senators Thom Tillis (R-NC), Chairman of the Senate Judiciary Subcommittee on Intellectual Property, and Chris Coons (D-DE) and Representatives Kevin Kiley (R-CA) and Scott Peters (D-CA) reintroduced the Patent Eligibility Restoration Act. This bipartisan, bicameral legislation will restore patent eligibility to important inventions across many fields while also resolving legitimate concerns over the patenting of mere ideas, the mere discovery of what already exists in nature, and social and cultural content that everyone agrees is beyond the scope of the patent system. It also affirms the basic principle that the patent system is central to promoting technology-based innovation.
    “Clear, reliable, and predictable patent rights are imperative to enable investments in the broad array of innovative technologies that are critical to the economic and global competitiveness of the United States, and to ensuring the national security of our great country,” said Senator Tillis. “Unfortunately, a series of Supreme Court decisions have rendered patent eligibility law unclear, unreliable, and unpredictable, resulting in U.S. inventors being unable to obtain patents in areas where our economic peers offer patent protection. This is particularly concerning in the economically critical areas of biotechnology and artificial intelligence. This bipartisan, bicameral legislation maintains the existing statutory categories of eligible subject matter, which have worked well for over two centuries, while addressing inappropriate judicially created eligibility limitations by creating clear rules for what is eligible. We cannot allow foreign adversaries like China to overtake us in key areas of technology innovation due to the current state of patent eligibility law. I look forward to continuing to work with all stakeholders on this important matter. Passing patent eligibility reform is one of my top legislative priorities.”
    “When American innovators know their ideas are eligible for patent protection, they take the risks that push us into the future – whether that’s the next medical test or the latest AI technology,” said Senator Coons. “PERA restores clarity to the law on what can be patented and what cannot – guidance that federal courts have been requesting for years and that the Supreme Court has refused to provide. Congress must step up to provide America’s inventors with the stable legal foundation they need to produce the cutting-edge technologies that power our economy.”
    “American innovators have been at a disadvantage in recent years because of the U.S. patent system,” said Representative Kevin Kiley. “Convoluted Supreme Court rulings and tests on subject matter eligibility have made it increasingly difficult for inventors to receive patents, leading to foreign companies overtaking our own. That’s why I’m proud to introduce the bi-partisan Patent Eligibility Restoration Act, which will dramatically reverse this trend, and unleash a tide of economic growth and job creation here at home.”
    “For more than two centuries, a U.S. patent has guaranteed inventions will be protected from theft, helping the U.S. become the innovation capital of the world. San Diego, in particular, is the proud home of a thriving life sciences and technology ecosystem that has benefited from these protections,” said Representative Peters. “Over the last 15 years, however, several Supreme Court decisions have created confusion about what exactly is eligible for a patent. Innovators, consumers, and even the judges who adjudicate patent law have called on Congress to provide clarity on what can be patented. I look forward to working with Congressman Kiley, Senator Coons, and Senator Tillis to advance our Patent Eligibility Restoration Act and protect American innovation.” 
    “Congress has not made substantive changes to what subject matter is patentable in the United States since the Patent Act of 1793, making it difficult for courts, inventors, and the public to understand how 21st-century technologies fit within an 18th Century patent statute,” said Andrei Iancu, board co-chair of C4IP and former Under Secretary of Commerce for Intellectual Property and USPTO Director from 2018 to 2021. “I commend Congress for advancing PERA in order to finally modernize our patent laws and promote U.S. global leadership in biotechnology, artificial intelligence, and other modern technologies.” 
    “PERA provides the clarity needed to unlock the full potential of cutting-edge technologies and solidify U.S. leadership in scientific and technological breakthroughs,” said David Kappos, board co-chair of C4IP and former Under Secretary of Commerce for Intellectual Property and USPTO Director from 2009 to 2013. “We cannot allow legal uncertainty to stall the next wave of American innovation.”
    “Patent Eligibility is an important issue for cancer patients – both for life-saving, early diagnosis and for promising new treatments.  PERA will provide the certainty needed to enable innovative breakthroughs to reach patients. Dana-Farber Cancer Institute applauds Congress for introducing and advancing this important bill – the patients are waiting.” – Dana-Farber Cancer Institute
    “Passing PERA is essential if the US is to catch up to Europe and Asia, especially China,” said Judge Paul Michel (retired). “They make eligible for patenting many classes of inventions held ineligible here. The very uncertainty of the zone of eligibility is itself an obstacle to companies getting the investments they need to compete both domestically and globally. Only Congress can fix this chaotic mess because the courts are trapped in their own harmful precedents.” 
    “In my former court, which hears patent cases on appeal, concurring and dissenting opinions in patent eligibly cases have proliferated,” said Judge Kathleen O’Malley (retired). “Veteran jurists have described the state of affairs as ‘incoherent,’ ‘unclear,’ ‘fraught,’ and ‘inconsistent.’ The Patent Eligibility Restoration Act would return clarity to patent eligibly law and encourage continued innovation in key emerging technologies – technologies that are central to the United States remaining the world’s innovation leader.”
    “NCLifeSci thanks Senator Tillis for reintroducing the Patent Eligibility Restoration Act of 2025, which restores the confidence in our nation’s patent laws by bringing much needed clarity to Section 101 of the Patent Act. Confidence that the life sciences industry needs to robustly invest in the future of medicine. For too long, fields like diagnostics, precision medicine, cell and gene therapy, RNA medicine, and digital health have been threatened by unclear and uncertain patent-eligibility standards that put America’s innovators at a disadvantage, and that discourage local investment. Through this legislation, our members – which include leading innovators who operate cutting-edge gene therapy manufacturing facilities here in North Carolina and research potential treatments and cures for Alzheimer’s and cancer —will be able to continue to take the bold risks and make the high levels of investment necessary to take fields like these to their next level, with the confidence that our patent laws will continue to hold up through future waves of technological progress.” – NC Life Sciences Organization 
    “The Innovation Alliance applauds Senators Tillis and Coons and Representatives Kiley and Peters for sponsoring the Patent Eligibility Restoration Act, which will provide much needed predictability and clarity to the hopelessly confused law of patent eligibility.  The Supreme Court has provided no workable framework to guide patent owners or the courts, and it has repeatedly refused to clarify the law, rejecting requests by the Federal Circuit and others to do so time and again. Investment dollars are flowing out of the United States as a result, jeopardizing the future of America’s innovation economy. It is past time for Congress to act.” – The Innovation Alliance  
    “This bipartisan and much-needed bill would strike a decade of judicial tinkering that has needlessly turned the question of patent eligibility into a confusing mess and harmed the U.S. versus our economic competitors. While the U.S. has spent a decade holding back innovations in areas such as fintech, diagnostic solutions and medical devices trying to figure out whether they are ‘abstract’ or not, our competitors are moving forward and protecting these inventions. PERA would be particularly beneficial to American startups and innovators by providing the clarity needed to attract investment for new ventures in essential areas such as medical devices, diagnostics, manufacturing and a whole new range of advancements powered by software.”- Alliance of U.S. Startups & Inventors for Jobs
    “AUTM – the association representing technology transfer professionals – thanks Senators Tillis and Coons and others for their leadership in introducing PERA. This legislation is crucially needed to address the ambiguities that the courts have created about what is, and what is not, patent eligible. At a time when the U.S. is competing for innovation leadership, its patent system needs to clearly delineate this process so that it can move forward on numerous discoveries that otherwise would wither on the vine.” – AUTM
    “The reintroduction of the Patent Eligibility Restoration Act (PERA) marks a pivotal move toward restoring clarity and consistency in U.S. patent law. By providing clear statutory guidelines, PERA offers inventors, entrepreneurs, and research institutions the certainty needed to innovate confidently. We commend Senator Tillis and Senator Coons for their leadership on this critical issue and remain committed to collaborating with Congress to support a patent system that fosters transparency and predictability.” – American Intellectual Property Law Association (AIPLA)
    “The Coalition for 21st Century Patent Reform applauds Congress for reintroducing PERA. This legislation represents a significant step forward in clarifying patent eligibility while maintaining necessary standards on what is ultimately patentable.  21C applauds these efforts as they will make sure that the United States remains the most attractive place in the world to invest, invent, and grow.” – The Coalition for 21st Century Patent Reform (21C)
    The following organizations support the Patent Eligibility Restoration Act: Innovation Alliance, C4IP, AUTM, AIPLA, IEEE-USA, USIJ, MDMA, BIO, NCLifeSci, Adeia, Nokia, Sisvel, Conservatives for Property Rights, Eagle Forum Education & Legal Defense Fund, U.S. Business & Industry Council, Center for a Free Economy, Center for Individual Freedom, American Policy Center, Less Government, 60 Plus Association, American Association of Senior Citizens, Frontiers of Freedom, Consumer Action for a Strong Economy, Center for American Principles, Prosperity for Us Foundation, Market Institute, Inventors Defense Alliance, Lauder Partners, Dana-Farber Cancer Institute, Heritage Action, 21C, Netlist, and FICPI.
    Background:
    Unfortunately, due to a series of Supreme Court decisions, patent eligibility law in the United States has become confused, constricted, and unclear in recent years. This has resulted in a wide range of well-documented negative impacts – inconsistent case decisions, uncertainty in innovation and investment communities, and unpredictable business outcomes.
    As of 2021, all 12 then-sitting judges of the United States Court of Appeals for the Federal Circuit lamented the state of the law. Witnesses and stakeholders from a wide array of industries, fields, interest groups, and academia have testified and submitted comments confirming the uncertainty and detailing the detrimental effects of patent eligibility confusion in the United States. There is now widespread bipartisan agreement in Congress and across all recent Administrations that reforms are necessary to restore the United States to a position of global strength and leadership in key areas of technology and innovation, such as medical diagnostics, biotechnology, personalized medicine, artificial intelligence, 5G, and blockchain.
    The Patent Eligibility Restoration Act achieves this critical goal by restoring patent eligibility to important inventions across many fields, while also resolving legitimate concerns over patenting of mere ideas, the mere discovery of what already exists in nature, and social and cultural content that everyone agrees is beyond the scope of the patent system, which is a system aimed at promoting technology-based innovation. As a general approach, the Patent Eligibility Restoration Act maintains the existing statutory categories of eligible subject matter, which have worked well for over two centuries, but eliminates the overly malleable set of current judicial exceptions – replacing them with five specific, defined statutory exclusions. By eliminating and replacing the current judicial exceptions, the Patent Eligibility Restoration Act provides predictable patent eligibility for important computer-implemented technological developments and medical advances, creating a solid bedrock for America’s innovation future.
    Full text of the bill is available HERE. 

    MIL OSI USA News –

  • MIL-OSI USA: Risch Introduces Legislation to Overhaul Federal Regulations, Cut Red Tape

    US Senate News:

    Source: United States Senator for Idaho James E Risch
    WASHINGTON – U.S. Senator Jim Risch (R-Idaho) today introduced the Zero-Based Regulations Act to cut red tape and protect taxpayer dollars by requiring annual zero-based reviews of all federal regulations.
    “Idahoans are fed up with heavy-handed federal regulations stifling our freedoms,” said Risch. “The Zero-Based Regulations Act forces federal agencies to cut the overreaching, unnecessary rules that no longer serve the people and reduce the regulatory burden on hardworking Americans.”
    Risch is joined by U.S. Senator Mike Crapo (R-Idaho) in introducing the legislation.
    The Zero-Based Regulations Act would:

    Implement a “zero-based” standard where repealing regulations is the default;

    Require federal agencies to review 20% of their regulations annually and the entire regulatory structure every five years;

    Require agencies to justify, simplify, and reduce the cost of any rule by at least 30% to be reauthorized; and

    Prohibit agencies from implementing new rules unless certain conditions are met.

    For too long, unelected bureaucrats have issued excessive and overreaching rules, ballooning the U.S. Code of Federal Regulations to nearly 200,000 pages. This unnecessary red tape stifles innovation, impedes economic growth, and inflicts significant regulatory burdens on everyday Americans and businesses.
    The Zero-Based Regulations Act is modeled after the State of Idaho’s successful zero-based regulation effort, spearheaded by Governor Brad Little and made permanent in 2023. Since 2019, Idaho has cut or simplified 95% of its regulations, earning the title of least regulated state in the country for six years.
    “Idaho leads the nation in cutting red tape, and President Trump’s return to the White House is bringing a renewed focus on getting the federal government to follow Idaho’s lead. I appreciate Senator Risch’s efforts to streamline federal regulations to unleash unlimited potential for America’s economy, and Idaho stands ready to help,” said Little.

    MIL OSI USA News –

  • MIL-OSI Security: Ringleader of Bank Fraud Conspiracy Case Receives Lengthy Federal Prison Sentence

    Source: Office of United States Attorneys

    SHREVEPORT, La. – Acting United States Attorney Alexander C. Van Hook announced that Destane Glass, 24, of Shreveport, has been sentenced by United States District Judge S. Maurice Hicks, Jr. to 135 months in prison for conspiracy to commit bank fraud. Glass was ordered to pay restitution in the amount of $539,578. In addition, Judge Hicks ordered that Glass’s sentence run consecutive to a 37-month federal prison sentence she is currently serving for Payment Protection Program fraud, making her sentence a total of 172 months (14 years, 4 months).

    According to evidence presented in court, beginning on or about January 1, 2021, and continuing through October 31, 2022, Glass and her co-conspirators conspired to commit bank fraud from USAA Savings Bank (USAA Bank), Navy Federal Credit Union, and JP Morgan Chase Bank. Glass was the ringleader of this conspiracy and directed and recruited others to participate in the scheme to defraud the banks. Glass was indicted, along with 20 other defendants, in April 2024 in connection with this federal bank fraud scheme. 

    USAA Bank was a financial institution whose deposits were insured by the Federal Deposit Insurance Corporation (FDIC).  Teleperformance was a multinational company that provided a wide variety of business services including operating a call center in Shreveport, Louisiana.  The call center provided customer service for USAA Bank.  Teleperformance employees had access to USAA Bank customer information including, but not limited to, customer names, the age of customers, account balances, and account numbers. Glass was not an employee of Teleperformance but conspired with others who were to execute a scheme to defraud USAA Bank.

    As part of the conspiracy, Glass worked with her co-defendants to improperly obtain account holder information so that the information could be used by Glass to create counterfeit USAA Bank checks. She instructed her co-defendants to target elderly bank customers whose bank accounts held high account balances as they would be less likely to regularly check their accounts. Glass created counterfeit checks on USAA Bank totaling $2,149,621 from accounts accessed by her co-defendants.  After she created the checks, Glass used social media and other methods to recruit individuals in the Shreveport area with bank accounts to use their accounts to deposit the counterfeit checks.

    Once the counterfeit checks were deposited into the accounts, Glass and others, worked to withdraw the funds at various locations to include area casinos. Glass and her co-conspirators would share the proceeds generated from negotiating the counterfeit checks. 

    ZarRajah Z. Watkins, 23, of Shreveport, who also participated in this scheme and was charged as a defendant in this case was sentenced today. Watkins pleaded guilty to conspiracy to commit bank fraud and was sentenced to 37 months in prison and ordered to pay restitution in the amount of $397,930. 

    All of the other defendants charged in this case have now pleaded guilty and received their sentences.

    This case was investigated by the United States Secret Service, Federal Bureau of Investigation, Louisiana State Police and Shreveport Police Department and was prosecuted by Acting United States Attorney Alexander C. Van Hook.

    # # #

    MIL Security OSI –

  • MIL-OSI: FERC Approves Reliability Must Run Settlement Agreement for Units at Talen Energy’s Brandon Shores and H.A. Wagner Power Plants

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) — Talen Energy Corporation (“Talen”) (NASDAQ: TLN) announced today that the Federal Energy Regulatory Commission (the “FERC”) has approved the terms under which Talen will operate units at its Brandon Shores and H.A. Wagner power plants until May 31, 2029, beyond their scheduled May 31, 2025 retirement dates.

    Talen, PJM Interconnection, L.L.C. (“PJM”), and a broad coalition of the Maryland Public Service Commission, Maryland customers, and electric utilities reached agreement in January on the “reliability-must-run” or “RMR” agreement approved today by FERC. Under the RMR agreement, Brandon Shores Units 1 and 2 and H.A. Wagner Units 3 and 4 will remain in service and provide power necessary to maintain grid and transmission reliability in and around the City of Baltimore until transmission upgrades to provide reliable power to the area from other sources are complete.  

    “We appreciate FERC’s approval of this important agreement, which will help to ensure the reliable supply of electricity to the people of Baltimore and its surrounding area,” said Mac McFarland, President and Chief Executive Officer of Talen. “Talen is pleased to help provide critical infrastructure with an RMR structure that simultaneously creates reliable electricity in Baltimore and protects Maryland consumer rates.”

    About Talen

    Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.

    Investor Relations:
    Sergio Castro
    Vice President & Treasurer
    InvestorRelations@talenenergy.com

    Media:
    Taryne Williams
    Director, Corporate Communications
    Taryne.Williams@talenenergy.com

    Forward-Looking Statements

    This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties.

    The MIL Network –

  • MIL-OSI New Zealand: Mayor urges Govt to approve bed night visitor levy following public support

    Source: Auckland Council

    The public consultation for Auckland Council’s Annual Plan 2025/2026 shows most Aucklanders want Government to enact legislative change to enable a bed night visitor levy.
    The consultation summary shows 60% of individuals, 58% of organisations, and 13 out of 14 Māori entities support a bed night visitor levy. Many of those who supported the proposal indicated a desire for public event funding, for visitor contribution to infrastructure, and for reducing local resident costs, and the view that it’s common overseas.

    The public feedback is consistent with the findings of a poll commissioned by the mayor’s office in August last year which found that 64% of Aucklanders support a bed night levy of 2.5%.

    The poll was conducted by Curia Market Research between 25-29 August 2024 and has a sample size of 2,000 Aucklanders. The results are weighted to reflect the regional population in terms of gender, age, and ward.

    “Despite the Government’s sheepishness towards a bed night levy, a clear majority of Aucklanders want it. They want visitors to contribute to the funding of the activities and services they use. It shouldn’t impact hoteliers’ profit margins but rather add to their bottom line. I think that’s fair, and common in many world-class destinations.”

    “Equally if the industry wants more events here, they need to do their bit to support these events happening. Ratepayers climbing out of a recession should not be burdened with these costs,” says Mayor Brown.

    He says Government would be wise to listen to the feedback.

    “Aucklanders are enjoying a better relationship with Wellington because I’m making sure they realise the powerhouse that we are.
    I’m telling the government to be wise and do the obvious and easy thing here.”

    Submissions also showed a majority support for the overall direction of the council’s annual plan. Of individuals, 72% support all or most of the overall plan. Of organisations, 81% and 11 out of 13 Māori entities support all or most of the overall plan.

    “This tells me that we’re on track with delivering what we said we would in the LTP. We are investing in every area we said we would while keeping rates as low as possible. In fact, the lowest for any metropolitan city in NZ.”

    Mayor Brown says the annual plan is a small but crucial step in moving Auckland in a progressive direction.

    “My vision is for Auckland to lead New Zealand on a path to prosperity. That means lifting productivity and real incomes so that every New Zealander – not just Aucklanders – can enjoy a higher standard of living.

    “As the powerhouse of our national economy, and our gateway to the world, Auckland is New Zealand’s biggest asset. But the council is just one player and that’s why it is important for all Aucklanders to participate in this conversation,” Mayor Brown says.

    I’m pleased to see we had the second largest number of submissions for an Annual Plan, we have high engagement and that’s good.”

    The final Mayor’s Proposal for the Annual Plan 2025/2026 will be available in the coming weeks. The council’s Budget Committee and Governing Body will then make final decisions at the end of May.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Attorney General James Denounces Trump Administration for Gutting Family Planning Services

    Source: US State of New York

    EW YORK – New York Attorney General Letitia James and a multistate coalition of 20 other attorneys general today called on the U.S. Department of Health and Human Services (HHS) to immediately reinstate tens of millions of dollars in Title X funds, which provide federal funding to health centers for family planning and reproductive health care, including birth control and other non-abortion services. Last month, HHS recklessly cut off support for vital family planning and health care services across the country without reason, leading to the complete loss of federal family planning funding in several states. In a letter to HHS Secretary Robert F. Kennedy, Jr., Attorney General James and the coalition warned that the recent decision to withhold these Title X funds will have devastating public health consequences, including more unintended pregnancies, more sexually transmitted infections (STIs), and increased rates of undiagnosed HIV and cervical cancer.

    “The federal administration continues to play politics with the lives of the American people,” said Attorney General James. “By slashing funding to necessary health care clinics and providers, they are putting millions of Americans at risk while forcing states to clean up the mess. This cruel and shortsighted attack on essential health care will have disastrous impacts in every corner of our country. My fellow attorneys general and I are calling on the administration to reverse this mistaken policy.”

    On March 31, HHS notified several grant recipients, whose subgrantees constitute nearly 25 percent of all Title X clinics, that their funding was being terminated despite no clear evidence of wrongdoing. As a result, some states have seen a complete loss of Title X funding and many others, including New York, face significant reductions.

    Attorney General James and the coalition argue that this decision will be catastrophic, as proven by the devastating impact of previous Title X cuts under the first Trump administration. The 2019 Title X cuts resulted in a more than 60 percent drop in the number of patients served, and half of all Title X clinics in New York lost federal funding. Clinics were forced to reduce services or shut down altogether, and patients ended up forgoing recommended tests, lab work, STI testing, clinical breast exams, and Pap tests in large numbers. Between 2018 and 2019, Title X clinics across the nation performed 90,386 fewer Pap tests to screen for cervical cancer; 188,920 fewer breast exams; 276,109 fewer HIV tests; over one million fewer STI tests; and provided 361,000 fewer patients with birth control.

    Attorney General James and the coalition argue that low-income and rural communities will suffer the most as a result of these cuts. After the 2019 cuts, Title X providers saw 573,650 fewer patients under the federal poverty level and 324,776 fewer uninsured patients. As the population served by Title X is disproportionately low-income and more likely to be on Medicaid, the financial loss caused by these cuts will be primarily felt by the states. When the first Trump administration cut Title X grants, states suffered an enormous financial burden, including a $14.2 million emergency appropriation in New York to cover the loss in funds.

    In New York and nationwide, Title X programs play a critical role in delivering affordable, lifesaving healthcare. A 2016 survey showed that Title X clinics were the only source of comprehensive medical care for 60 percent of their patients. The Guttmacher Institute estimates that as a direct result of these cuts, at least 834,000 patients – 30 percent of all Title X patients – will lose care annually. Guttmacher also anticipates higher rates of unplanned pregnancies, higher STI rates, and worse overall health.

    In the letter, Attorney General James and the coalition assert that HHS has provided no legitimate evidence to justify the funding cuts, instead relying on vague accusations and political targeting of certain providers. Many of the notices that clinics and providers received point to “possible violations” of civil rights laws or the president’s Executive Orders, but the evidence provided fails to support any such claim. In one letter, HHS simply referenced a statement the grantee issued on racism in the aftermath of the murder of George Floyd. The attorneys general allege that these allegations are a pretext for the administration to penalize reproductive health care providers it dislikes. Meanwhile, the harm to patients and already strained state budgets is immediate and measurable.

    Attorney General James and the coalition are urging HHS to reinstate the withheld grants and restore full funding to the Title X program.

    Joining Attorney General James in sending this letter are the attorneys general of Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, North Carolina, Oregon, Rhode Island, Vermont, and Washington.

    MIL OSI USA News –

  • MIL-OSI Security: False disaster relief applications and other fraud lands former Houstonian in federal prison

    Source: Office of United States Attorneys

    HOUSTON – A 35-year-old woman has been sentenced for conspiracy to commit wire fraud which resulted in approximately $620,000 in losses, announced U.S. Attorney Nicholas J. Ganjei.

    Cora Chantail Custard, who had resided in both Houston and San Antonio over course of the conspiracy, pleaded guilty Sept. 17, 2024.

    U.S. District Judge David Hittner has now ordered Custard to serve 57 months in federal prison to be immediately followed by three years of supervised release. She was also ordered to pay $621,388 in restitution. In handing down the sentence, the court noted the sophisticated means in which Custard used social media to advertise her services and defrauded the U.S. government and seven different state agencies.

    From March 2020 until March 2021, Custard conspired with others to submit false and fraudulent loan applications for financial assistance both personally and on behalf of others.

    At the time of the plea, Custard admitted to using her Facebook account to advertise her services to file fraudulent disaster relief applications. Her posts repeatedly described the scheme to her followers as “doing apps,” with the ability to obtain between $6,000 and $8,000 for an application within four to seven days of filing.

    Custard submitted or caused the submission of over 100 fraudulent Economic Injury Disaster Loan applications, at least 36 of which resulted in advance payments totaling $345,000.

    She also filed at least 30 fraudulent Federal Emergency Management Agency disaster benefit applications related to Hurricane Laura in August 2020 and Hurricane Sally in September 2020. At least 16 of those fraudulent applications resulted payouts totaling approximately $75,000.

    Additionally, Custard committed several other fraudulent acts like filing over 100 false unemployment insurance applications in Michigan, Illinois and several other states for her own and others’ benefits. At least 20 of those fraudulent applications resulted in payments totaling approximately $200,000.

    She was remanded into custody at sentencing.

    The Department of Homeland Security-Office of Inspector General (OIG), IRS Criminal Investigation, Treasury Inspector General for Tax Administration, Social Security Administration-OIG, Small Business Administration-OIG and Department of Labor-OIG conducted the investigation.

    Assistant U.S. Attorney Karen M. Lansden prosecuted the case.

    MIL Security OSI –

  • MIL-OSI: Marksmen Energy Inc. Announces Delay in Filing its 2024 Annual Financial Statements and Issuance of Promissory Note

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, ALBERTA,, May 01, 2025 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company“) announced today that its annual financial statements, accompanying management’s discussion and analysis and related chief executive officer (“CEO“) and chief financial officer (“CFO“) certifications for the financial year ended December 31, 2024 (the “Annual Filings“), may not be filed within the period prescribed for the filing of such documents under Parts 4, 5 and 6 of National Instrument 51-102 Continuous Disclosure Obligations and pursuant to National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings, namely within 120 days of year-end, being April 30, 2025 (the “Filing Deadline“).

    The delay in filing the Annual Filings is related to the Company’s inability to raise capital for the year 2024 and through Q1 2025 due to market conditions. As such, the Company experienced an unanticipated delay in receipt of funds to pay the Company’s external auditor to complete the audit. Such funds have since been received by the Company on April 24, 2025 pursuant to the Loan described below. The Company has since engaged with its auditor to complete the audit to address the completion of the Annual Filings.

    Marksmen is working closely with its auditor MNP LLP and is making every effort to submit the Annual Filings in a timely fashion and expects to file no later than June 15, 2025.

    The Company is providing this default announcement in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203“). The Company has made an application to the Alberta Securities Commission, as principal regulator of the Company, a management cease trade order (“MCTO“) under NP 12-203 in respect of the default regarding the Annual Filings. The MCTO will prohibit the CEO and the CFO from trading in securities of Marksmen for two full business days after all the required filings have been filed on SEDAR+. The issuance of the MCTO, if issued, does not affect the ability of persons other than the CEO and the CFO of the Company to trade in the Company’s securities. The application for the MCTO remains subject to the risk factors described in “Forward Looking Information and Risk Factors” below, including the risk that the MCTO application may not be successful or may not be completed prior to a securities commission issuing a failure-to-file cease trade order against the Company following the Filing Deadline.

    The Company confirms that it intends to satisfy the provisions of the alternative information guidelines found at sections 9 and 10 of NP 12-203 respecting Management Cease Trade Orders for so long as it remains in default as a result of the late filing of the Annual Filings. During the period of default, the Company will issue biweekly default status reports in the form of further news releases, which will also be filed on SEDAR+. The Company confirms that there are no insolvency proceedings against it as of the date of this news release. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release.

    Promissory Note

    The Company also announces that it has obtained an unsecured non-convertible loan (the “Loan“) in the amount of CAD$250,000 from Conex Services Inc. (“Conex“). The Loan is evidenced by a promissory note issued by the Company to Conex on April 24, 2025 (the “Promissory Note“). The amount outstanding under the Promissory Note bears interest at a rate of 15% per annum and is due and payable in full on December 31, 2025.

    Related Party Participation

    The Loan is being provided by Conex, which is an entity wholly owned by Glenn Walsh, an insider of the Company by virtue of holding more than 10% of the outstanding common shares of the Company. As an insider of the Company participated in this transaction, it is deemed to be a “related party transaction” as defined under Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions (“MI 61-101“).

    Since the Promissory Note is not convertible into shares of Marksmen, there will be no effect on the voting interests of any related parties. The Promissory Note was approved by all of the directors of Marksmen.

    The entering into of the Promissory Note with respect to the Loan is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 (pursuant to subsections 5.5(b) and 5.7(1)(f)) as the Company is not listed on a specified market and the Loan is not convertible into or repayable with equity or voting securities of the Company.

    For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.

    Forward Looking Information and Risk Factors

    This news release contains statements and information that may constitute “forward-looking information” within the meaning of applicable securities legislation, including statements identified by the use of words such as “will”, “expects”, “positions”, “believe”, “potential” and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts.

    Such forward-looking information is not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, information concerning the estimated filing date of the Annual Filings, and whether the Alberta Securities Commission will grant the Company’s application for an MCTO.

    By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. Some of these risks include, but are not limited to, the risk that the Annual Filings are filed later than anticipated, the risk that the Company’s application for an MCTO is not successful for any reason, in which case there is a risk that trading in the Company’s securities may halted by the TSX Venture Exchange and/or cease traded temporarily by the Canadian securities commissions after the Filing Deadline until such time as the Annual Filings are filed on SEDAR+.

    Additional information regarding risks and uncertainties of the Company’s business are contained under the headings “Financial Risk Management” and “Going Concern” in the Company’s Management’s Discussion & Analysis for the condensed interim consolidated financial statements for the nine months ended September 30, 2024 and the Company’s other public filings which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

    In connection with the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release are made as of the date of this news release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.

    The MIL Network –