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Category: Economy

  • MIL-OSI USA: Pappas, LaMalfa Reintroduce Bipartisan Legislation to Repeal Federal Excise Tax on Heavy Trucks

    Source: United States House of Representatives – Congressman Chris Pappas (D-NH)

    Congressmen Chris Pappas (NH-01) and Doug LaMalfa (CA-01) reintroduced the Modern, Clean, and Safe Trucks Act which would repeal the 12% federal excise tax on heavy trucks. Representatives Darin LaHood (IL-16), Salud Carbajal (CA-24), and Max Miller (OH-07) joined in introducing this bipartisan legislation.

    The 12% excise tax on heavy trucks is the highest excise tax levied on any product in the country and could add $15,000 to $30,000 to the cost of new heavy trucks, trailers, semitrailer chassis, and tractors for highway use. Off-highway equipment such as agriculture, earthmoving, forestry, and mining machinery is exempt from the tax. This tax is paid at the time of sale and is not levied on used truck sales, consequentially encouraging the purchase of older, less safe, and less fuel efficient vehicles.

    “Every potential saving we can deliver to businesses makes a difference to help them operate and lower costs for families,” said Congressman Pappas. “Cutting the federal excise tax on heavy-duty trucks and trailers will help America’s Main Street economy grow and strengthen our supply chains, while also supporting the adoption of newer, safer, and cleaner trucks. This legislation is bipartisan and commonsense, and I’ll keep fighting for Congress to take it up to provide immediate relief to small businesses and consumers alike.”

    “For over a century, the federal excise tax on heavy-duty trucks has gone from a temporary wartime measure to fund World War I, to an outdated tax that punishes truck buyers,” said Congressman LaMalfa. “This is the highest percentage-based tax Congress imposes on any product, yet it fails to be a reliable source of funding for the Highway Trust Fund. This tax forces buyers to stick with older, less efficient models and makes it harder for truckers to modernize their rigs, holding back the trucking industry from updating. Let’s repeal this outdated tax and support the men and women who keep America moving.”

    This bipartisan legislation has the support of leaders across the industry. 

    “First implemented over a century ago to help finance America’s effort in World War I, the FET has become the largest excise tax on any product, adding $24,000 to the cost of each new clean-diesel tractor-trailer,” said American Trucking Associations President & CEO Chris Spear.  “Keeping this antiquated tax on the books imposes an enormous hardship, particularly for the small fleets, family businesses, and independent truckers who make up the overwhelming majority of trucking.  Removing this burden will allow motor carriers to replace their trucks with modern, safer, and cleaner equipment, which will in turn provide a boost to manufacturing jobs.  Our industry is grateful to Reps. LaMalfa, Pappas, LaHood, Carbajal, and Miller for their leadership on this issue to improve highway safety, reduce emissions, and strengthen our economy.”

    “The Clean Freight Coalition (CFC) is grateful to Reps. LaMalfa, Pappas, LaHood, Carbajal, and Miller for their leadership on repealing the FET, which will incentivize motor carriers to refresh their fleets with cleaner and safer trucks,” said CFC’s Executive Director Jim Mullen. “There are many pathways to reducing truck emissions, and replacing old equipment with trucks equipped with the most advanced technology provides immediate benefits for the environment, and at the same time protects the resiliency of the supply chain and guards against rising freight costs which are ultimately paid by consumers. The stakeholders represented by the CFC applaud the Sponsors of this bill for their efforts to improve the environment and support the trucking industry.”

    “The burdensome 12 percent Federal Excise Tax on the sale of new heavy-duty trucks and trailers is an outdated levy which drives up costs and slows the adoption of safer, more fuel-efficient vehicles,” said Scott Pearson, ATD Chairman and President of Peterbilt of Atlanta. “This onerous tax adds approximately $20,000 to the price of a new diesel truck, and $50,000 to the cost of a new electric truck. America’s truck dealers commend Reps. LaMalfa and Pappas for their leadership on this important issue, which will help motor carriers modernize their fleets and improve road safety.”

    “The U.S. tank truck industry needs relief from the outdated Federal Excise Tax—originally imposed more than a century ago to fund World War I,” said Ryan Streblow, President and CEO of National Tank Truck Carriers. “Repealing this 12% tax would empower our industry to reinvest in the specialized equipment we need—equipment that features critical safety enhancements and cleaner-emission power units to serve the U.S. bulk segment. As costs continue to rise, this tax remains a significant barrier to upgrading our fleets and supporting a safer, more sustainable supply chain.”

    Background: 

    For more than a century, the Federal government has levied excise taxes on heavy duty trucks to raise money for wartime mobilization in WW1 and WW2, fund Great Depression-era programs, and for the Highway Trust Fund. The Senate previously attempted to repeal the tax in 1975, but the House failed to include it in their version of a broad tax bill. It was last increased in 1982 to twelve percent, and although it was set to expire in 1987 it was extended in 1987, 1991, 1998, 2005, 2012, and 2015.

    Representatives Pappas and LaMalfa introduced similar legislation in the 117th Congress and the 118th Congress following a renewed appeal from the National Automobile Dealers Association. This legislation has received praise from New Hampshire small business leaders.

    MIL OSI USA News –

  • MIL-OSI USA: What They’re Saying: LaMalfa Reintroduces Bill to Repeal Federal Excise Tax on Heavy Trucks

    Source: United States House of Representatives – Congressman Doug LaMalfa 1st District of California

    Washington, D.C.—Yesterday, Congressman Doug LaMalfa (R-Richvale) reintroduced bipartisan legislation to repeal the 12% federal excise tax on heavy trucks, the highest excise tax on any product in the country. This outdated tax drives up the cost of new trucks by as much as $30,000, forcing businesses to keep older, less efficient vehicles on the road. The bill, introduced alongside Reps. Pappas (D-NH), LaHood (R-IL), Carbajal (D-CA), and Miller (R-OH), has already earned strong support from industry leaders who recognize the need to modernize America’s trucking fleet. Here’s what they’re saying:

    “First implemented over a century ago to help finance America’s effort in World War I, the FET has become the largest excise tax on any product, adding $24,000 to the cost of each new clean-diesel tractor-trailer,” said American Trucking Associations President & CEO Chris Spear.  “Keeping this antiquated tax on the books imposes an enormous hardship, particularly for the small fleets, family businesses, and independent truckers who make up the overwhelming majority of trucking. Removing this burden will allow motor carriers to replace their trucks with modern, safer, and cleaner equipment, which will in turn provide a boost to manufacturing jobs.  Our industry is grateful to Reps. LaMalfa, Pappas, LaHood, Carbajal, and Miller for their leadership on this issue to improve highway safety, reduce emissions, and strengthen our economy.”

    “The California Trucking Association is grateful to Reps. LaMalfa, Pappas, LaHood, Carbajal, and Miller for recognizing the importance of removing significant financial barriers to fleet modernization,” said Eric Sauer, CEO, California Trucking Association. “By repealing the Federal Excise Tax, Congress is paving the way for the broader adoption of cleaner, more fuel-efficient trucks. This effort will encourage trucking companies across California to invest in state-of-the-art equipment, including zero-emission technologies, supporting both our environmental goals and the continued development of innovative solutions. It’s a win for the environment, the economy, and our industry.”

    “The Clean Freight Coalition (CFC) is grateful to Reps. LaMalfa, Pappas, LaHood, Carbajal, and Miller for their leadership on repealing the FET, which will incentivize motor carriers to refresh their fleets with cleaner and safer trucks,” said CFC’s Executive Director Jim Mullen. “There are many pathways to reducing truck emissions, and replacing old equipment with trucks equipped with the most advanced technology provides immediate benefits for the environment, and at the same time protects the resiliency of the supply chain and guards against rising freight costs which are ultimately paid by consumers. The stakeholders represented by the CFC applaud the Sponsors of this bill for their efforts to improve the environment and support the trucking industry.”

    “The burdensome 12 percent Federal Excise Tax on the sale of new heavy-duty trucks and trailers is an outdated levy which drives up costs and slows the adoption of safer, more fuel-efficient vehicles,” said Scott Pearson, ATD Chairman and President of Peterbilt of Atlanta. “This onerous tax adds approximately $20,000 to the price of a new diesel truck, and $50,000 to the cost of a new electric truck. America’s truck dealers commend Reps. LaMalfa and Pappas for their leadership on this important issue, which will help motor carriers modernize their fleets and improve road safety.”

    “The U.S. tank truck industry needs relief from the outdated Federal Excise Tax—originally imposed more than a century ago to fund World War I,” said Ryan Streblow, President and CEO of National Tank Truck Carriers. “Repealing this 12% tax would empower our industry to reinvest in the specialized equipment we need—equipment that features critical safety enhancements and cleaner-emission power units to serve the U.S. bulk segment. As costs continue to rise, this tax remains a significant barrier to upgrading our fleets and supporting a safer, more sustainable supply chain.”

    Congressman Doug LaMalfa is Chairman of the Congressional Western Caucus and a lifelong farmer representing California’s First Congressional District, including Butte, Colusa, Glenn, Lassen, Modoc, Shasta, Siskiyou, Sutter, Tehama and Yuba Counties.

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    MIL OSI USA News –

  • MIL-OSI USA: Rep. LaMalfa Reintroduces Bipartisan Legislation to Repeal Federal Excise Tax on Heavy Trucks

    Source: United States House of Representatives – Congressman Doug LaMalfa 1st District of California

    Washington, D.C.—Today, Congressman Doug LaMalfa (R-Richvale) reintroduced bipartisan legislation to repeal the twelve percent Federal excise tax on heavy trucks with Reps. Pappas (D-NH), LaHood (R-IL), Carbajal (D-CA), and Miller (R-OH). The 12% excise tax on heavy trucks is the highest excise tax levied on any product in the country and could add $15,000 to $30,000 to the cost of new heavy trucks, trailers, semitrailer chassis, and tractors for highway use. Off-highway equipment such as agriculture, earthmoving, forestry, and mining machinery are exempt from the tax. This tax is paid at the time of sale and is not levied on used truck sales, consequentially encouraging the purchase of used vehicles.

    “For over a century, the federal excise tax on heavy-duty trucks has gone from a temporary wartime measure to fund World War I, to an outdated tax that punishes truck buyers,” said Rep. LaMalfa. “This is the highest percentage-based tax Congress imposes on any product, yet it fails to be a reliable source of funding for the Highway Trust Fund. This tax forces buyers to stick with older, less efficient models and makes it harder for truckers to modernize their rigs, holding back the trucking industry from updating. Let’s repeal this outdated tax and support the men and women who keep America moving.”

    “Every potential saving we can deliver to businesses makes a difference to help them operate and lower costs for families,” said Rep. Pappas. “Cutting the federal excise tax on heavy-duty trucks and trailers will help America’s Main Street economy grow and strengthen our supply chains, while also supporting the adoption of newer, safer, and cleaner trucks. This legislation is bipartisan and commonsense, and I’ll keep fighting for Congress to take it up to provide immediate relief to small businesses and consumers alike.”

    “The Illinois trucking industry is a vital economic driver that impacts agriculture, manufacturing, and small businesses,” said Rep. LaHood. “I am proud to join my colleagues in introducing this critical piece of legislation that abolishes the federal excise tax on semi-trucks and trailers. This outdated tax hinders trucking companies from hiring more drivers and upgrading their fleets to cleaner, safer, and more efficient models.”

    “Repealing the outdated federal excise tax on heavy-duty trucks—which was first enacted over a century ago—is essential to modernize our transportation sector and help reduce emissions,” said Rep. Carbajal. “This outdated tax drives up the costs of cleaner, more efficient trucks. By eliminating this financial barrier, we can accelerate fleet turnover, enhance road safety, and promote economic growth while supporting American manufacturing and jobs. I am glad to join this effort to pave the way for a cleaner, safer, and more competitive industry.”

    “America’s truckers work hard to keep our economy moving, but outdated policies like this federal excise tax on heavy trucks and trailers make it harder for them to upgrade to safer, more reliable equipment,” said Rep. Miller. “By eliminating this excessive tax, we can empower small trucking businesses to invest in modern trucks, reduce costs, and improve safety on our highways. Supporting our truckers means ensuring they have access to the tools they need to keep goods moving efficiently in our communities.” 

    Congressman Doug LaMalfa is Chairman of the Congressional Western Caucus and a lifelong farmer representing California’s First Congressional District, including Butte, Colusa, Glenn, Lassen, Modoc, Shasta, Siskiyou, Sutter, Tehama and Yuba Counties.

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    MIL OSI USA News –

  • MIL-OSI USA: It’s Time for ESA Reform

    Source: United States House of Representatives – Congressman Bruce Westerman (AR-04)

    For the sake of both the environment and the economy, Congress must advance common sense Endangered Species Act (ESA) reforms that return power to private landowners while simultaneously protecting endangered species in a responsible way. Weaponization of the ESA and its morass of red tape are impeding our ability to move forward on vital land management practices and even building important and necessary infrastructure, all in the name of environmental activism that’s actually doing more environmental harm than good. That is why I was proud to introduce the Endangered Species Act Amendments Act of 2025 this week.

    The original noble intent of the ESA was to evaluate and label at-risk wildlife while also providing a path toward full recovery. Yet since its implementation over 50 years ago, only 3% of listed species have ever been recovered. As stewards of God’s creation, we must always be mindful of our land and waters, the flora and fauna inhabiting it, and our responsibility as caretakers. When we manage our lands, waters, fields, and forests, we are caring for the homes of the plants and wildlife who reside there. Unfortunately, the ESA is failing on its goal to recover species.

    My bill, the ESA Amendments Act of 2025, will implement necessary measures to take the power away from litigious environmental activist groups who openly profit off weaponizing species management and instead give more responsibilities to state, local, and tribal governments who often times have a much better understanding of the species, their needs, and their habitats.

    As Chairman of the House Natural Resources Committee, it is my duty to lead on this issue, and it is immensely important that Congress passes this legislation which will restore commonsense to the species management process and ensure America’s rich, abundant wildlife thrives for generations to come.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Speech to Project Auckland

    Source: New Zealand Government

    Check against delivery.Kia ora and thank you so much for inviting me here today. It’s great to be with you all.Can I start by thanking Fran O’Sullivan for her hard work in organising and supporting this annual event and the also NZME for sponsoring the event as always. I’d also like to acknowledge our Deputy Mayor Desley Simpson, Councillor Richard Hills, and my colleague the Honourable Chris Bishop, the Minister of many things relevant to Auckland’s future and success – Transport, Housing, RMA Reform, Infrastructure – the list goes on. He is also, importantly, Leader of the House because you can’t change the law if he doesn’t let you change the law, so it’s very important to have the Leader of the House on site – great to see you here. Also, the opposition spokesperson for Auckland, Carmel Sepuloni, and Shanan Halbert – lovely to see you here today as well.It’s always good to be with you all as leaders of our city – people who believe in Auckland’s future and are committed to its success.This shared commitment mirrors our Government’s focus on Going for Growth – driving positive change for this city, and delivering real results. 
    Context 
    As a Government, we have set a clear, decisive plan to get New Zealand back on track.There is no doubt that our country – and this city – faces significant challenges.At the heart of those challenges are the economy, inflation, and interest rates, which have been tightening household budgets and stifled economic growth. The Government has spent the last 18 months focused on the basics – rebuilding our economy, restoring law and order, and delivering better public services, particularly in health and education.By reducing wasteful spending, reining in inflation, and lowering interest rates, we are easing the pressure on families and mortgages and giving businesses the certainty they need to grow and invest.We campaigned on this, and we are starting to see the green shoots of economic recovery.Inflation is back within the one to three per cent band, and interest rates are falling. This is good news for Kiwi households and businesses and is critical to easing the cost-of-living pressures for New Zealanders.  Just last week, it was confirmed that our economy has also started to turn the corner, with GDP growing by 0.7 percent in the three months to December – ahead of what the economists were projecting – welcome news after a long period of economic decline, which we inherited, leaving Kiwis feeling poorer. Under Christopher Luxon’s leadership, our Government is Going for Growth, and working tirelessly to sustain this momentum, because a stronger economy means more jobs, better incomes, and more opportunities for Kiwis to get ahead. Rebuilding our economy also requires discipline across every part of government, local and central – delivering the services and infrastructure that Kiwis need, while ensuring every dollar is spent wisely to produce tangible results. This disciplined approach is especially crucial for Auckland – home to 34 per cent of our population and generating 38 per cent of New Zealand’s GDP.Rebuilding our economy means the Government can continue to invest in the priorities facing our city, whether that is better schools, more doctors and nurses in our hospitals, or the infrastructure needed for our fast-growing city.As Minister for Auckland, my role is to champion this city’s interests and ensure it receives the attention and investment it rightfully deserves from central Government, and I am proud of what we have already achieved as a Government. 
     
    Delivering for Auckland
    Since entering government, we have moved quickly deliver on our promises and get Auckland back on track. We axed the Auckland Regional Fuel Tax, removing 11.5 cents per litre from the cost of fuel.We delivered tax relief for hardworking Aucklanders, with average-income households receiving up to $102 a fortnight.We have also prevented a 25.8 per cent increase in water rates through our Local Water Done Well plan, ensuring Aucklanders have access to affordable and sustainable water services.This will save Aucklanders around $899 million in water and wastewater charges over four years through the Watercare Charter. I want to acknowledge the team from Watercare for the excellent work they’ve done, as well as Auckland Council who have partnered with the Government to enable this deal. The deal with Auckland Council to financially separate Watercare has also built huge confidence in the pipeline of water infrastructure in Auckland. A major sign of this confidence was the decision by tunnelling company, Ghella, who are building the Auckland Central Interceptor, to keep their tunnel boring machine in Auckland, following the completion of the central interceptor tunnels this Friday. They see the growing pipeline of water infrastructure projects that require delivering in our city. This is what real confidence in the infrastructure pipeline looks like and it’s a privilege to play a part in delivering that. We have also opened new state-of-the-art radiology equipment at Auckland City Hospital’s Regional Cancer and Blood Service.We’ve deployed additional cops on the beat – raising beat cops to 51 in the CBD – strengthening law and order to improve safety in the inner city and across Auckland.We scrapped Auckland Light Rail, halting a project that haemorrhaged over $228 million without delivering a single metre of track.We have introduced legislation for Time of Use Schemes, which will support the Government’s and Auckland Council’s efforts to reduce congestion across the city and improve efficiency of our roading network. We set a clear direction for both roading and public transport projects across Auckland, including the Northland Corridor, Mill Road Stage 1, the North-West Alternative State Highway, the Northwestern Busway and the Airport to Botany Busway so Aucklanders can have a clear plan of future transport projects for the city – both roading and public transport connections that this city needs for the future. And we are restoring democratic accountability for transport decisions, ensuring Auckland ratepayers have a genuine say in shaping our city.Our track record as a Government demonstrates our commitment to delivering real outcomes for Auckland and getting our city back on track.
     
    What’s next for Auckland
     
    But the question is what’s next for Auckland?While we’ve achieved a lot in a short space of time, our work isn’t done. There is much more to do. Two key areas of work that will be underway over the next 12-18 months, which I think are critically to our city’s success, is capitalising on the benefits of the City Rail Link and developing an Auckland Regional Deal.The next 12-18 months see significant change in Auckland as we look forward to the completion of the City Rail Link. This project, started under the last National Government, will be truly transformational for the city and unlock huge benefits for Aucklanders, including reduced travel times and increased opportunities for development along our rail corridor. Once complete, the City Rail Link will be truly city shaping, and will have a significant impact beyond just making transport more accessible for Aucklanders. Unlocking the benefits of the CRL is key to Auckland’s success. Both the Government and Auckland Council have invested billions of dollars into this project and we must make sure that we are getting the benefits from it. Whether it is the work Transport Minister Chris Bishop is delivering with Auckland Council to remove level crossings to keep traffic moving safely in our suburbs, or it is unlocking development around train stations across Auckland, we must make sure that the city maximises the benefits. The Government has also recently welcomed proposals around regional deals, and I welcome Auckland Council’s proposal which has been put forward as part of that process. I hope that maximising the City Rail Link benefits can be part of that deal because that is something we must jointly ensure happens for the city. Regional deals are an opportunity to bring Councils, Government, Business, Iwi and community together with a longer-term view than just the three-year political cycle, about what’s need to enable the key issues to be unlock, whether that economic growth, productivity, housing, or infrastructure. I’m looking forward to the opportunity we have before us to build on the work already underway with Auckland Council, and how a regional deal could support that. As Minister of Auckland, I will be advocating for Auckland to be the first cab off the rank for a regional deal so we can build on the strong progress we have already made for Auckland in the past 18 months. A regional deal will be a long-term plan for the city, outlining how both local and central government can work together to unlock economic growth in our city, build houses, and deliver the infrastructure needed for this city. It is also an opportunity to outline how central and local governments need to work together to solve problems and deliver tangible solutions. Taxpayers and Ratepayers are ultimately the same people – and they expect central and local governments to work together to deliver on their priorities over the long term. Regional deals are an opportunity to do just that and I will be working closely with Auckland Council on their plan to deliver a Regional Deal for Auckland. But, great infrastructure and economic reforms also need high-quality public services, particularly in health, that are efficient and put patients first.
     
    Keeping Auckland healthy
     
    That’s why we’re determined to ensure Aucklanders have timely, quality access to healthcare.A lot has changed since I last spoke to you in March, when I was talking about potholes – but even Bernard Orsman managed to find a pothole at Greenlane Hospital carpark yesterday, and we got it fixed. Some might say I traded one challenge for an even bigger one. In a growing city like Auckland, we need a resilient health system, so that rising demand from a growing population doesn’t mean waitlists balloon out even more than they already have.The Government is putting more money into health than ever before and we are focussing our health system on delivering the timely and quality healthcare for all New Zealanders. To achieve this – we have restored national health targets – which are key to delivering timely and quality healthcare. Unfortunately over the last 6 years, we’ve seen the results go backwards for patients, whether its Kiwis waiting longer in emergency departments or elective surgeries, which increased from 1000 people more than four months in 2017 to over 27,000 waiting more than four months in 2023.It is unacceptable and New Zealanders deserve better. Health targets have been restored to deliver better outcomes for patients because what gets measured gets managed.But performance also depends on infrastructure. Auckland’s population is growing, so we need modern hospitals to keep up.For the expectant new mother needing maternity care.For the elderly patient needing a hip replacement.For the injured tradie needing urgent care after an accident on the job.
     
    Health Infrastructure Plan
     
    At the recent New Zealand Infrastructure Summit, I highlighted 67 health infrastructure projects – valued at $6.39 billion – which are in the pipeline across the country. $1.5 billion of that is in Auckland, including Manukau Health Park here in Auckland, large scale remediation programmes across our estate at Auckland Hospital and Greenlane Hospital.But at current estimates, we cannot build capacity fast enough to meet the demands of a growing population. Today, I am providing an update on the Health Infrastructure Plan that Cabinet is developing. This plan will set a direction for the next 10 to 20 years to ensure that as a country, we build the right things in the right places at the right size and scale.While each project will require its own business case, the plan will set a long-term view of health infrastructure needs across the country and gives Health New Zealand a clear plan to work upon. We know that hospitals across the Auckland region are experiencing pronounced bed shortages, which are expected to increase as the population grows.South Auckland in particular is one of our fastest-growing communities, with significant health challenges. This community experiences higher rates of infectious conditions and long term conditions such as diabetes, cardiovascular disease, and chronic respiratory disease. The health needs of South Auckland are compounding, and this impacts the whole region, with both Middlemore and Auckland City Hospital under pressure to service the south Auckland population – and this pressure will only continue to grow.A new site in South Auckland has long been acknowledged by the region’s health planning as necessary to meet the growing demand. Today, I’m confirming that as part of the Health Infrastructure Plan, a new major hospital in South Auckland is being explored. The next steps involve detailed planning by Health New Zealand and securing land to accelerate development.This hospital would work alongside Middlemore, adding more beds, modern surgical theatres, and expanded emergency services – easing pressure on the system and improving outcomes for Aucklanders. Kiwis deserve better than long waits in overcrowded emergency departments and long waits for surgery. Patients come first, and investing in infrastructure is key to delivering that.The Health Infrastructure Plan has been considered by Cabinet and will be published in the coming weeks 
     
    Conclusion
     
    We have a clear growth agenda for Auckland. We’ve taken decisive action to ease the cost of living, restore law and order, and keep our city moving.Auckland must be a city that works for its people – where businesses thrive, families can afford to live, people can travel quickly and safely, and everyone has access to timely, quality healthcare.That’s my focus.Thanks very much for having me here.Thank you, and I look forward to continuing this work alongside you all.

    MIL OSI New Zealand News –

  • MIL-Evening Report: Ancient Rome used high tariffs to raise money too – and created other economic problems along the way

    Source: The Conversation (Au and NZ) – By Peter Edwell, Associate Professor in Ancient History, Macquarie University

    Nuntiya/Shutterstock

    Tariffs are back in the headlines this week, with United States President Donald Trump introducing sweeping new tariffs of at least 10% on a vast range of goods imported to the US. For some countries and goods, the tariffs will be much higher.

    Analysts have expressed shock and worry, warning the move could lead to inflation and possibly even recession for the US.

    As someone who’s spent years researching the economy of Ancient Rome, it all feels a shade familiar.

    In fact, tariffs were also used in Ancient Rome, and for some of the reasons that governments claim to be using them today.

    Unfortunately for the Romans, however, these tariffs often led to higher prices, black markets and other economic problems.

    Roman tariffs on luxury goods

    As the Roman Empire expanded and became richer, its wealthy citizens demanded increasing amounts of luxury items, especially from Arabia, India and China. This included silk, pearls, pepper and incense.

    There was so much demand for incense, for example, that growers in southern Arabia worked out how to harvest it twice a year. Pepper has been found on archaeological sites as far north as Roman Britain.

    Around 70 CE the Roman writer Pliny – who later died in the eruption that buried Pompeii – complained that 100 million sesterces (a type of coin) drained from the empire every year due to luxury imports. About 50 million sesterces a year, he reckoned, was spent on trade from India alone.

    In reality, however, the cost of these imports was even larger than Pliny thought.

    An Egyptian document, known as the Muziris Papyrus, from about the same time Pliny wrote shows one boat load of imports from India was valued at 7 million sesterces.

    Hundreds of boats laden with luxuries sailed from India to Egypt every year.

    At Palmyra (an ancient city in what’s now Syria) in the second century CE, an inscription shows 90 million sesterces in goods were imported in just one month.

    And in the first century BCE, Roman leader Julius Caesar gave his lover, Servilia (mother to his murderer Marcus Brutus), an imported black pearl worth 6 million sesterces. It’s often described as one of the most valuable pearls of all time.

    Julius Caesar gave his lover, Servilia, an imported black pearl worth 6 million sesterces.
    AdelCorp/Shutterstock

    So while there was a healthy level of trade in the other direction – with the Romans exporting plenty of metal wares, glass vessels and wine – demand for luxury imports was very high.

    The Roman government charged a tariff of 25% (known as the tetarte) on imported goods.

    The purpose of the tetarte was to raise revenue rather than protect local industry. These imports mostly could not be sourced in the Roman Empire. Many of them were in raw form and used in manufacturing items within the empire. Silk was mostly imported raw, as was cotton. Pearls and gemstones were used to manufacture jewellery.

    With the volume and value of eastern imports at such high levels in imperial Rome, the tariffs collected were enormous.

    One recent estimate suggests they could fund around one-third of the empire’s military budget.

    Inflationary effects

    Today, economic experts are warning Trump’s new tariffs – which he sees as a way to raise revenue and promote US-made goods – could end up hurting both the US and the broader global economy.

    Today’s global economy has been deliberately engineered, while the global economy of antiquity was not. But warnings of the inflationary effects of tariffs are also echoed in ancient Rome too.

    Pliny, for example, complained about the impact of tariffs on the street price of incense and pepper.

    In modern economies, central banks fight inflation with higher interest rates, but this leads to reduced economic activity and, ultimately, less tax revenue. Reduced tax collection could cancel out increased tariff revenue.

    It’s not clear if that happened in Rome, but we do know the emperors took inflation seriously because of its devastating impact on soldiers’ pay.

    Black markets

    Ancient traders soon became skilled at finding their way around paying tariffs to Roman authorities.

    The empire’s borders were so long traders could sometimes avoid tariff check points, especially when travelling overland.

    This helped strengthen black markets, which the Roman administration was still trying to deal with in the third century, when its economy hit the skids and inflation soared. This era became known as the Crisis of the Third Century.

    I don’t subscribe to the view that you can draw a direct line between Rome’s high tariffs and the decline of the Roman Empire, but it’s certainly true that this inflation that tore through third century Rome weakened it considerably.

    And just as it was for Rome, black markets loom as a potential challenge for the Trump administration too, given the length of its borders and the large volume of imports.

    But the greatest danger of the new US tariffs is the resentment they will cause, especially among close allies such as Australia.

    Rome’s tariffs were not directed at nations and were not tools of diplomatic revenge. Rome had other ways of achieving that.

    Peter Edwell receives funding from the Australian Research Council.

    – ref. Ancient Rome used high tariffs to raise money too – and created other economic problems along the way – https://theconversation.com/ancient-rome-used-high-tariffs-to-raise-money-too-and-created-other-economic-problems-along-the-way-253752

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: SCHUMER ANNOUNCES SENATE JUST PASSED BIPARTISAN RESOLUTION TO END TRUMP’S DESTRUCTIVE TARIFFS ON CANADA; SENATOR CALLS ON HOUSE TO VOTE ON RESOLUTION AND STAND UP AGAINST TARIFFS TO PROTECT UPSTATE NY…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    Senate Last Night Passed Bipartisan Resolution Terminating Trump’s National Emergency That Is Justifying His Destructive Tariffs On Canada, With Republicans Joining Rebuke Saying Canadian Tariffs Would Raise Prices And Hurt Local Economies

    Trump’s Tariffs Could Cost New York State Families And Businesses $7+B; Raise Prices On New Yorkers As Much Over $5,000 For Gas, Groceries, Cars And Everyday Goods – All While Decimating Small Businesses, Killing Good-Paying Jobs, Shrinking 401K’s And Damaging Upstate NY’s Vital Tourism Industry

    Schumer: House Republicans Must Join Senate To Protect Upstate NY From Devastating Price Increases And Job Losses

    U.S. Senator Chuck Schumer today announced the Senate has passed a bipartisan resolution led by Senator Kaine to end Trump’s destructive tariffs on Canada. Schumer called on the House, particularly NY Republicans, to join the Senate in passing this resolution to protect New York from disastrous price increases and job losses as a result of tariffs on Canada, which is New York State’s top trading partner.

    “Trump’s destructive tariffs are a tax on Upstate New Yorkers, raising costs for families, small businesses, and hurting jobs. I’m proud that the Senate voted to stand up against this price hike on Upstate NY families and small businesses and begin to stop this Trump Slump to our economy. Now the House of Representatives must follow suit, and I am calling on the House to vote on the Senate’s bipartisan bill undoing Trump’s disastrous tariffs on Canada.” said Senator Schumer. “Yesterday was not liberation day, it was tax day. Trump’s tariffs on Canada will mean higher prices for middle class families, essentially a tax increase on people and small businesses already struggling with high costs.”

    Schumer said the Senate vote to end Trump’s destructive tariffs on Canada – America’s neighbor, close ally, and top trading partner – is a step in the right direction. Schumer explained Trump’s tariffs are a tax on Americans that are expected to increase costs for Upstate New York’s families by over $5,000 a year and could impact 150,000+ jobs in directly targeted industries across Upstate New York. Across New York State, families and business are expected to pay over $7 billon due to Trump’s tariffs.

    Earlier this week, Schumer broke down the impact of Trump’s tariffs on Upstate New York. Canada is New York State’s top importer and exporter, last year importing $20.5 billion of goods from Canada and exporting $17.4 billion. 70% of Canadian imports are used to manufacture American-made products. In the North Country, there are nearly 100 businesses connected to Canadian companies in the Plattsburgh area alone, and an estimated 20% of the local workforce either commutes across the border for work or works for a Canadian or border-related company here in the US. Approximately 20% of the Plattsburgh workforce works for a Canadian or border-related employer, according to the North Country Chamber of Commerce.

    Schumer added, “Donald Trump called yesterday liberation day, but nobody was feeling even close to liberated. Quite the opposite: American families are learning the hard way that Donald Trump has them right in the middle of a pincer, and is squeezing them on both sides. On the one side, Donald Trump is pushing tariffs that will cost working families an extra over $5,000 a year. And by his own admission, he couldn’t care less. On the other side, Donald Trump is working with Republicans to gut vital programs working families rely on, like Medicaid, Social Security, veterans’ programs.”

    Schumer also explained Trump’s tariffs are damaging Upstate New York’s vital tourism industry and killing good-paying jobs. The tariff war is already slowing sales, and tourism from Canada is down. There has already been a 23% drop in the number of Canadians taking round-trip trips to the United States compared to February 2024, according to Statistics Canada. The U.S. Travel Association warned that even a 10% reduction in Canadian travelers would translate to $2.1 billion in lost spending and jeopardize 140,000 hospitality jobs nationwide, according to Forbes, many of which would be in Upstate NY as one of the most popular close by destinations.

    Trump previously delayed the start of his tariffs twice, creating uncertainty for families and small businesses and triggering volatility for the American economy. Trump’s tariff uncertainty is causing the stock market to fall, hurting Upstate New York seniors’ retirements. Today, the markets are plunging, with the Dow down 800 points, and the SP500 on track for its worst day in years. This will hurt Upstate New York’s seniors’ retirements and is leading to fears for a recession.

    Schumer concluded, “If the Speaker really cares about the American people and the costs they would bear by these tariffs, he should call back the House and take up the Senate bill immediately. We will not stop fight to stop this un-strategic and destructive trade war and lower costs for the American people.”

    MIL OSI USA News –

  • MIL-OSI USA News: Report to the President on the America First Trade Policy Executive Summary

    Source: The White House

    Pursuant to the January 20, 2025 Presidential Memorandum on America First Trade Policy (AFTP), directed to the Secretary of State, Secretary of the Treasury, Secretary of Defense, Secretary of Commerce, Secretary of Homeland Security, Director of the Office of Management and Budget, U.S. Trade Representative, Assistant to the President for Economic Policy, and the Senior Counselor for Trade and Manufacturing, the President instructed the Department of the Treasury, the Department of Commerce, and the United States Trade Representative to report to the President on April 1, 2025, on the topics set forth therein, consisting of 24 individual chapters containing the reviews, investigations, findings, identifications, and recommendations enumerated in Sections 2(a) through 4(g) of the Presidential Memorandum. The Report also includes the expanded scope of work on non-reciprocal trading practices directed by the February 13, 2025 Presidential Memorandum on Reciprocal Trade and Tariffs. The findings from Sections 3(c), 3(d), and 3(f) of the February 21, 2025 Presidential Memorandum on Defending American Companies and Innovators from Overseas Extortion and Unfair Fines and Penalties are incorporated therein. This unified report is delivered to the President accordingly.

    Introduction

    An America First Trade Policy will unleash investment, jobs, and growth at home; reinforce our industrial and technological advantages; reduce our destructive trade imbalance; strengthen our economic and national security; and deliver substantial benefits for American workers, manufacturers, farmers, ranchers, entrepreneurs, and businesses. The America First Trade Policy Report (the Report) provides a foundation and resource for trade policy actions that will Make America Great Again by putting America First. It presents comprehensive recommendations covering the full scope of trade policies and challenges, from market access and the de minimis duty exemption to export controls and outbound investment restrictions. 

    The need for an America First Trade Policy is self-evident. For decades, the United States has shed jobs, innovation, wealth, and security to foreign countries who have used a myriad of unfair, non-reciprocal, and distortive practices to gain advantage over our domestic producers. There is no better expression of this dangerous state of affairs than America’s large and persistent trade deficit in goods, which soared to $1.2 trillion in 2024. Emerging from a tenuous geopolitical landscape in the previous four years, the United States cannot approach international economic and industrial policy issues with malaise. Our Nation’s future prosperity and national security requires a coordinated, strategic approach that fully utilizes the authorities and expertise of the Federal government to ensure the enduring economic, technological, and military dominance of the United States.

    It was for this reason that President Trump wasted no time in launching the America First Trade Policy mere hours after taking his oath of office. In the weeks that followed, he expanded the scope of work to include non-reciprocal trading practices—a key driver of the trade deficit—and foreign extortion of American firms, especially leading U.S. technology companies. For most administrations, success in any of the 24 separate workstreams discussed in the Report would represent some of the most significant international economic change in the history of the country. Each could easily take decades to resolve. In fact, it is precisely because decades have passed without resolution of these issues that urgent action is required today. The United States does not have decades to continue tinkering around the edges of international economics—the urgency of the situation requires bold action now.

    Today—on April 1—after a mere 71 days on the job, President Trump’s Administration delivered the results of its work. The Report provides the President with recommendations for transformative action. The Report charts a course for his Presidency to reshape U.S. trade relations by prioritizing economic and national security, and restoring the ability to make America, once again, a nation of producers and builders.

    Specifically, the Report includes a chapter for each subsection in the AFTP Memorandum, with an additional chapter for Section 3(f) of Presidential Memorandum on Defending American Companies and Innovators from Overseas Extortion and Unfair Fines and Penalties; reporting pursuant to Sections 3(c) and 3(d) of the latter are included within Chapter 3. Although the full Report delivered to the President is non-public, what follows is a brief public summary of the contents of each chapter.

    Addressing Unfair and Unbalanced Trade

    Chapter 1. Economic and National Security Implications of the Large and Persistent Trade Deficit (Section 2(a) of AFTP)

    The Report opens with a discussion of the magnitude and urgency of the economic and national security threat posed by the large and persistent trade deficit. In particular, the trade deficit demonstrates a fundamental unfairness and lack of reciprocity in how the United States is treated by its trading partners. For decades, while the United States has kept its tariffs low and its economy open, our trading partners have imposed egregious tariff and non-tariff barriers on American goods and services.  These unfair and non-reciprocal trade practices have undermined U.S. competitiveness, leading to business closures, job losses, missed market opportunities for American exporters, loss of industrial capacity, and an atrophying of our defense industrial base and national security posture. The sum total of these various non-reciprocal practices is that American exporters are less competitive abroad and foreign imports are artificially more competitive in the United States. Hence, our large and persistent trade deficit. The Report makes recommendations to the President to reduce the trade deficit, including the imposition of a tariff on certain imports in pursuit of reciprocity and balanced trade.

    Chapter 2. The External Revenue Service (Section 2(b) of AFTP)

    Through a collaboration between the Department of Commerce (DOC), the Department of the Treasury, and the Department of Homeland Security (DHS), the creation of an External Revenue Service (ERS) offers an opportunity to improve tariff collection. Tariffs have historically played a central role in the collection of Federal revenues. One way the United States can maximize its revenue recovery while deterring fraudulent and unfair trade practices is by establishing a centralized system to optimize revenue collection in the form of an ERS. By closing regulatory gaps and modernizing revenue collection mechanisms, the United States can reaffirm its commitment to a strong, fair, and enforceable trade system that benefits American businesses and taxpayers alike.

    Chapter 3. Review of Unfair and Non-Reciprocal Foreign Trade Practices (Section 2(c) of AFTP)

    U.S. trading partners pursue various unfair and non-reciprocal trade practices. In its review, the Office of the U.S. Trade Representative (USTR) identified more than 500 of these practices, and stakeholders reported many more during a public comment process. Many countries impose higher tariffs on U.S. exports than the United States imposes on imports from those countries. The U.S. average applied tariff is 3.3%. But the average tariffs in the European Union (EU) (5%), China (7.5%), Vietnam (9.4%), India (17%), and Brazil (11.2%) are all higher. The disparity is even more evident in specific products. The U.S. most-favored nation (MFN) tariff on passenger vehicles is 2.5%, but the EU, India, and China tariff cars at much higher rates, 10%, 70%, and 15% respectively. The United States has no tariffs on apples, but India has a 50% tariff and Turkey a 60.3% tariff.

    Non-tariff barriers by our trade partners are often an even greater obstacle. The EU only allows imports of shellfish from two states—Massachusetts and Washington—but the United States gives the EU unlimited access to the U.S. shellfish market. The United Kingdom (UK) maintains non-science-based standards that adversely affect U.S. exports of safe, high-quality beef and poultry products. Non-tariff barriers also include domestic economic policies that suppress domestic consumption. While the U.S. share of consumption to gross domestic product (GDP) is 68%, it is much lower in Ireland (24%), China (38%), and Germany (49%). This is because our trading partners pursue intentional policies of consumption-reduction (e.g., wage suppression and labor, environmental, and regulatory arbitrage) to gain unfair trade advantage over the United States. This, in turn, contributes to our large and persistent trade deficit. USTR recommends a number of ways in which current legal authorities might be used to address these unfair practices and trade barriers.

    Chapter 4. Renegotiation of the U.S.-Mexico-Canada Agreement (Section 2(d) of AFTP)

    In his first term, President Trump ended the job-killing North America Free Trade Agreement (NAFTA) and replaced it with the U.S.-Mexico-Canada Agreement (USMCA). USMCA gained new market access for American exporters and adopted rules to incentivize the reshoring of manufacturing to the United States. It also included an innovative review mechanism to ensure that the agreement is responsive to changing economic circumstances. Under the USMCA Implementation Act, USTR is statutorily required to initiate the review process ahead of the July 2026 deadline. Numerous changes are needed, such as stronger rules of origin to reduce the inflow of non-market economy content into the United States, expanded market access—especially for dairy exports to Canada, and action to address Mexico’s discriminatory practices, such as in the energy sector.

    Chapter 5. Review of Foreign Currency Manipulation (Section 2(e) of AFTP)

    The Secretary of the Treasury is required to assess the policies and practices of major U.S. trading partners with respect to the rate of exchange between their currencies and the United States dollar pursuant to section 4421 of title 19, United States Code, and section 5305 of title 22, United States Code. The Department of the Treasury will strengthen its ongoing currency analysis and address the lack of transparency by foreign governments in currency markets.

    Chapter 6. Review of Existing Trade Agreements (Section 2(f) of AFTP)

    The United States has 14 comprehensive trade agreements in force with 20 countries. There is significant scope to modernize existing U.S. trade agreements so that trade terms are aligned with American interests while addressing underlying causes of imbalances. This includes lowering foreign tariff rates for American exporters, improving transparency and predictability in foreign regulatory regimes, improving market access for U.S. agricultural products, strengthening rules of origin to ensure the benefits of the agreement appropriately flow to the parties, and improving the alignment of our trading partners with U.S. approaches to economic security and non-market policies and practices.

    Chapter 7. Identification of New Agreements to Secure Market Access (Section 2(g) of AFTP)

    The negotiation of new trade agreements with trading partners offers an opportunity for the United States to knock down non-reciprocal barriers to U.S. exports, especially for agricultural products, and reshape the global trading system in ways that promote supply chain resilience, manufacturing reshoring, and economic and national security alignment with partners. The Report identifies countries and sectors which may be ripe for the negotiation of America First Agreements.

    Chapter 8. Review of Anti-Dumping and Countervailing Duty Policies (Section 2(h) of AFTP)

    Administered by DOC, anti-dumping and countervailing duties (AD/CVD) are a critical tool to address unfair trade and support domestic manufacturing. Recommendations include considering the addition of new countries to the list of non-market economies, methodologies to better implement AD/CVD laws, and more-active self-initiation of new investigations.

    Chapter 9. Review of the De Minimis Exemption (Section 2(i) of AFTP)

    Packages containing imports valued at $800 or less imported by one person on one day currently enter the United States duty free. The United States should end this duty-free de minimis exemption.  This exception has resulted in approximately $10.8 billion in foregone tariff revenue in 2024 alone.  De minimis shipments also pose serious security risks to the United States. The de minimis exemption is a means by which fentanyl, counterfeit goods, and various deadly and high-risk products enter the United States with little scrutiny. Countless consumer products that don’t meet U.S. health and safety standards, such as flammable children’s pajamas and lead-ridden plumbing fixtures, enter the United States through under the de minimis administrative exemption every year.  This is in part because the government does not collect sufficient data on low-value shipments to allow for enforcement targeting.  The de minimis exemption also allows for importers to evade trade enforcement tariffs; for instance, goods entering through the de minimis exemption do not need to pay duties owed pursuant to Section 301 of the Trade Act of 1974. With nearly four million packages arriving each day through the de minimis exemption, it is imperative that DOC and CBP recover our rightful tariff revenue and defend our national security by ending the exemption.

    Chapter 10. Investigation of Extraterritorial Taxes (Section 2(j) of AFTP)

    The United States must combat efforts by foreign governments to collect illegitimate revenue from U.S. firms by imposing various discriminatory taxes and regulatory regimes aimed to capture the success of America’s most successful companies—not the least of which are our leading technology firms. Digital Services Taxes, for example, are often devised so as to shield most non-U.S. headquartered firms from taxation and UTPRs determine tax based primarily on factors outside the taxing jurisdiction. We need to ensure we have available the tools necessary to defend U.S. interests, including by providing technical assistance in furtherance of new legislative tools and further investigating identified taxes to determine the appropriate action.

    Chapter 11. Review of the Government Procurement Agreement (Section 2(k) of AFTP)

    Buy American is the epitome of common-sense public policy. In recent decades, the United States has weakened domestic procurement preferences by opening up our procurement market pursuant to the World Trade Organization’s (WTO) Agreement on Government Procurement (GPA). Unfortunately, this market access is lopsided. A 2019 report by the Government Accountability Office (GAO) on the GPA found that in 2010, the United States reported $837 billion in GPA coverage. This was twice as much as the $381 billion reported by the next five largest GPA parties (the EU, Japan, South Korea, Norway, and Canada), despite the fact that total U.S. procurement was less than that of these five partners combined. Moreover, some GPA partners open their procurement markets to third countries who are not parties, forcing U.S. suppliers to compete for the preferential market access they are entitled to under the agreement. To address this lack of reciprocity and unfair competition, the United States should modify or renegotiate the GPA, and if unsuccessful, withdraw.

    An additional challenge is that, although defense procurement is closed to GPA partners, the Department of Defense still gives countries access to our huge defense procurement market by negotiating Reciprocal Defense Procurement (RDP) agreements. Shockingly, these RDPs not only open our market to foreign suppliers, but also require U.S. firms to move industrial capacity offshore as a condition of access to the markets of partner countries. These RDPs must be reviewed to ensure they put America First.

    Economic and Trade Relations with the People’s Republic of China

    Chapter 12. Review of the Phase One Agreement (Section 3(a) of AFTP)

    A key success of President Trump’s first term was the Phase One Agreement with China. Unfortunately, five years following the entry into force in February 2020, China’s lack of compliance with the Agreement is a serious concern. China has failed to live up to its commitments on agriculture, financial services, and protection of intellectual property (IP) rights. USTR assessed this lack of compliance and recommends potential responses.

    Chapter 13. Assessment of the Section 301 Four-Year Review (Section 3(b) of AFTP)

    The United States imposed tariffs pursuant to Section 301 of the Trade Act of 1974 in 2018. The law requires that Section 301 actions be reviewed every four years by USTR. The first Four-Year Review was completed in May 2024 and resulted in increases of some of the Section 301 tariffs on China. USTR assessed the results of this review to ensure the Section 301 action remains fit for purpose.

    Chapter 14. Identification of New Section 301 Actions (Section 3(c) of AFTP)

    Given the expansiveness of China’s non-market policies and practices, there may be a need for additional Section 301 investigations. USTR looked at various elements of China’s non-market policies and practices to identify additional investigations that may be warranted.

    Chapter 15. Assessment of Permanent Normal Trade Relations (Section 3(d) of AFTP)

    After China was granted Permanent Normal Trade Relations (PNTR) with the United States in 2000, China took full advantage of the openness of the U.S. economy by leveraging its state-directed capital investments and subsidies, industrial overcapacity, lax labor and environmental standards, forced technology transfer policies, and countless protectionist measures. U.S. goods imports from China increased from $100 billion in 2000 to $463.9 billion in 2024, while the U.S. trade deficit in goods with China ballooned from $83.8 billion in 2000 to $295.4 billion in 2024. More than two decades after being granted PNTR, China still embraces a non-market economic system. USTR carefully reviewed legislative proposals related to PNTR and advised the President accordingly.

    Chapter 16. Assessment of Reciprocity for Intellectual Property (Section 3(e) of AFTP)

    The full extent of China’s abusive tactics and practices with respect to U.S. intellectual property is staggering. The Report catalogues China’s abuses of this system and recommends appropriate responsive actions to address China’s massive imbalance on treatment of intellectual property.

    Additional Economic Security Matters

    Chapter 17. Identification of New Section 232 Actions (Section 4(a) of AFTP)

    In his first term, President Trump used Section 232 of the Trade Expansion Act of 1962 to save America’s steel and aluminum industries. Last week, President Trump invoked Section 232 to impose a 25% tariff on foreign automobiles and certain automobile parts to protect our automotive industrial base. Reshoring industrial production in key sectors is critical to national security, and DOC identified additional products and sectors that merit consideration for initiation of new Section 232 investigations, including pharmaceuticals, semiconductors, and certain critical minerals. 

    Chapter 18. Review of Section 232 Action on Steel and Aluminum (Section 4(b) of AFTP)

    On February 11, President Trump ended all product exclusions and country exemptions for the Section 232 tariffs on steel and aluminum. DOC further explains the basis for this needed action and recommends additional measures for steel and aluminum for that could be taken.

    Chapter 19. Review of U.S. Export Controls (Section 4(c) of AFTP)

    The United States must ensure that its advanced technology does not flow to our adversaries. Export controls should be simpler, stricter, and more effective, while promoting U.S. dominance in AI and asserting global technological leadership.

    Chapter 20. Review of the Office of Information and Communication Technology and Services (Section 4(d) of AFTP)

    Using his authority under the International Emergency Economic Powers Act (IEEPA), President Trump created a new Office of Information and Communication Technology and Services (ICTS) at DOC in his first term. In the last administration, however, ICTS was underutilized. DOC reviewed ongoing ICTS work and identified key areas to strengthen and improve in line with ITCS’s original intent, including expanding its scope and remit to encompass advanced technologies controlled by our adversaries.

    Chapter 21. Review of Outbound Investment Restrictions (Section 4(e) of AFTP)

    President Trump’s America First Investment Policy serves as a basis for how the Administration will approach investment policy, including on outbound investment restrictions. Pursuant to the America First Investment Policy, the National Security Council and the Department of the Treasury will evaluate options that allow American business to thrive while ensuring that they, too, put America First and do not undermine U.S. national security interests. Among the things the Administration plans to evaluate is whether the scope of outbound investment restrictions should be expanded to be responsive to developments in technology and the strategies of countries of concern.

    Chapter 22. Assessment of Foreign Subsidies on Federal Procurement (Section 4(f) of AFTP)

    Foreign subsidies can disadvantage domestic products in a country’s government procurement market. The EU has recognized this problem and introduced the Foreign Subsidies Regulation (FSR) to address distortions caused by foreign subsidies for public procurement. OMB assessed the value of the FSR and other policies to tilt the playing field in favor U.S. producers by strengthening domestic procurement preferences and closing loopholes.

    Chapter 23. Assessment of Unlawful Migration and Fentanyl Flows from Canada, Mexico, and China (Section 4(g) of AFTP)

    On February 1, President Trump invoked IEEPA to impose tariffs on Canada, Mexico, and China to stop the threat posed by the flow of illegal migrants and drugs into the United States. DOC and the Department of Homeland Security (DHS) elaborated on the necessity for the strong action already taken by President Trump and identified measures to further stem the flow of illegal migrants and drugs into the United States.

    Chapter 24. E-Commerce Moratorium (Section 3(f) of Presidential Memorandum on Defending American Companies and Innovators from Overseas Extortion and Unfair Fines and Penalties)

    At present, WTO Members have committed to a temporary moratorium on customs duties on electronic transmissions, known popularly as the e-commerce moratorium. In other words, no tariffs on data flows. However, some countries—such as India, Indonesia, and South Africa—seek to tariff the flow of data, thereby destroying the internet and harming the competitiveness for U.S. companies that are global leaders. USTR assessed the risks posed by data tariffs and made recommendations to ensure that the e-commerce moratorium is made permanent.

    Conclusion

    The Report offers a broad, yet substantive, view of U.S. trade policy as it currently stands, and articulates a roadmap for where it should go. The U.S. trade policy of today does not address long-standing and destructive global imbalances, nor does it reflect the reality that the United States is the most open, innovative, and dynamic economy in the world, which is why we must work to unlock its full potential.  Now is the time to pursue trade and economic policies that put the American economy, the American worker, and our national security first. This Report provides a foundation to do exactly that.

    MIL OSI USA News –

  • MIL-OSI USA: RELEASE: Harder Announces Bipartisan Action to Support Valley Farmers Amid Rising Tariffs

    Source: United States House of Representatives – Congressman Josh Harder (CA-10)

    California almond growers hit with 35% Chinese tariff

    Fertilizer costs soaring

    WASHINGTON – Today, Rep. Josh Harder (CA-09) announced new bipartisan action to support Valley farmers amid rising international tariffs threatening their livelihoods. Alongside Rep. Dusty Johnson (SD-AL) and more than a dozen colleagues, Harder helped introduce a resolution reaffirming Congress’ commitment to expanding market access, enforcing trade agreements, and eliminating trade barriers.

    The stakes are high:

    • More than 80% of U.S. potash fertilizer comes from Canada and is facing a 25% tariff.
    • China has imposed a 35% tariff on U.S. almonds, which are all grown in California.
    • These tariffs are driving up supply costs, limiting exports, and threatening farmers’ bottom lines.
    • Additional reciprocal tariffs are expected as early as April 2.

    “This is about protecting the Valley’s farmers who feed the country,” said Rep. Harder. “We’re the fruit and nut basket of the world, and our farmers shouldn’t be punished with rising costs and shrinking markets. These tariffs are going to hit our economy hard – it’s time for Congress to stand up and fight back.”

    “Agriculture is the backbone of America and an essential part of our economy,” said Rep. Johnson. “South Dakota is no stranger to the agriculture way of life and the importance of ag trade. I’m proud to partner with the Ag Trade Caucus to highlight the value of ag trade for our country and our farming and ranching families and communities.”

    The resolution is backed by a broad coalition of agricultural and food organizations, including the American Farm Bureau Federation, U.S. Dairy Export Council, California League of Food Producers, National Cattlemen’s Beef Association, and many more.

    Read the full resolution here.

    ###

    MIL OSI USA News –

  • MIL-OSI Economics: Threat actors leverage tax season to deploy tax-themed phishing campaigns

    Source: Microsoft

    Headline: Threat actors leverage tax season to deploy tax-themed phishing campaigns

    As Tax Day approaches in the United States on April 15, Microsoft has observed several phishing campaigns using tax-related themes for social engineering to steal credentials and deploy malware. These campaigns notably use redirection methods such as URL shorteners and QR codes contained in malicious attachments and abuse legitimate services like file-hosting services and business profile pages to avoid detection. These campaigns lead to phishing pages delivered via the RaccoonO365 phishing-as-a-service (PhaaS) platform, remote access trojans (RATs) like Remcos, and other malware like Latrodectus, BruteRatel C4 (BRc4), AHKBot, and GuLoader.

    Every year, threat actors use various social engineering techniques during tax season to steal personal and financial information, which can result in identity theft and monetary loss. These threat actors craft campaigns that mislead taxpayers into revealing sensitive information, making payments to fake services, or installing malicious payloads. Although these are well-known, longstanding techniques, they could still be highly effective if users and organizations don’t use advanced anti-phishing solutions and conduct user awareness and training. 

    In this blog, we share details on the different campaigns observed by Microsoft in the past several months leveraging the tax season for social engineering. This also includes additional recommendations to help users and organizations defend against tax-centric threats. Microsoft Defender for Office 365 blocks and identifies the malicious emails and attachments used in the observed campaigns. Microsoft Defender for Endpoint also detects and blocks a variety of threats and malicious activities related but not limited to the tax threat landscape. Additionally, the United States Internal Revenue Service (IRS) does not initiate contact with taxpayers by email, text messages or social media to request personal or financial information.

    BruteRatel C4 and Latrodectus delivered in tax and IRS-themed phishing emails

    On February 6, 2025, Microsoft observed a phishing campaign that involved several thousand emails targeting the United States. The campaign used tax-themed emails that attempted to deliver the red-teaming tool BRc4 and Latrodectus malware. Microsoft attributes this campaign to Storm-0249, an access broker active since 2021 and known for distributing, at minimum, BazaLoader, IcedID, Bumblebee, and Emotet malware. The following lists the details of the phishing emails used in the campaign:

    Example email subjects:

    • Notice: IRS Has Flagged Issues with Your Tax Filing
    • Unusual Activity Detected in Your IRS Filing
    • Important Action Required: IRS Audit

    Example PDF attachment names:

    • lrs_Verification_Form_1773.pdf
    • lrs_Verification_Form_2182.pdf
    • lrs_Verification_Form_222.pdf

    The emails contained a PDF attachment with an embedded DoubleClick URL that redirected users to a Rebrandly URL shortening link. That link in turn redirected the browser to a landing site that displayed a fake DocuSign page hosted on a domain masquerading as DocuSign. When users clicked the Download button on the landing page, the outcome depended on whether their system and IP address were allowed to access the next stage based on filtering rules set up by the threat actor:

    • If access was permitted, the user received a JavaScript file from Firebase, a platform sometimes misused by cybercriminals to host malware. If executed, this JavaScript file downloaded a Microsoft Software Installer (MSI) containing BRc4 malware, which then installed Latrodectus, a malicious tool used for further attacks.
    • If access was restricted, the user received a benign PDF file from royalegroupnyc[.]com. This served as a decoy to evade detection by security systems.
    Figure 1. Sample phishing email that claims to be from the IRS
    Figure 2. PDF attachment masquerading as a DocuSign document

    Latrodectus is a loader primarily used for initial access and payload delivery. It features dynamic command-and-control (C2) configurations, anti-analysis features such as minimum process count and network adapter check, C2 check-in behavior that splits POST data between the Cookie header and POST data. Latrodectus 1.9, the malware’s latest evolution first observed in February 2025, reintroduced scheduled tasks for persistence and added the ability to run Windows commands via the command prompt.

    BRc4 is an advanced adversary simulation and red-teaming framework designed to bypass modern security defenses, but it has also been exploited by threat actors for post-exploitation activities and C2 operations.

    Between February 12 and 28, 2025, tax-themed phishing emails were sent to over 2,300 organizations, mostly in the United States in the engineering, IT, and consulting sectors. The emails had an empty body but contained a PDF attachment with a QR code and subjects indicating that the documents needed to be signed by the recipient. The QR code pointed to a hyperlink associated with a RaccoonO365 domain: shareddocumentso365cloudauthstorage[.]com. The URL included the recipient email as a query string parameter, so the PDF attachments were all unique. RaccoonO365 is a PhaaS platform that provides phishing kits that mimic Microsoft 365 sign-in pages to steal credentials. The URL was likely a phishing page used to collect the targeted user’s credentials.

    The emails were sent with a variety of display names, which are the names that recipients see in their inboxes, to make the emails appear as if they came from an official source. The following display names were observed in these campaigns:

    • EMPLOYEE TAX REFUND REPORT
    • Project Funding Request Budget Allocation
    • Insurance Payment Schedule Invoice Processing
    • Client Contract Negotiation Service Agreement
    • Adjustment Review Employee Compensation
    • Tax Strategy Update Campaign Goals
    • Team Bonus Distribution Performance Review
    • proposal request
    • HR|Employee Handbooks
    Figure 3. Screenshot of the opened PDF with the QR code

    AHKBot delivered in IRS-themed phishing emails

    On February 13, 2025, Microsoft observed a campaign using an IRS-themed email that targeted users in the United States. The email’s subject was IRS Refund Eligibility Notification and the sender was jessicalee@eboxsystems[.]com.

    The email contained a hyperlink that directed users to download a malicious Excel file. The link (hxxps://business.google[.]com/website_shared/launch_bw[.]html?f=hxxps://historyofpia[.]com/Tax_Refund_Eligibility_Document[.]xlsm) abused an open redirector on what appeared to be a legitimate Google Business page. It redirected users to historyofpia[.]com, which was likely compromised to host the malicious Excel file. If the user opened the Excel file, they were prompted to enable macros, and if the user enabled macros, a malicious MSI file was downloaded and run.

    The MSI file contained two files. The first file, AutoNotify.exe, is a legitimate copy of the executable used to run AutoHotKey script files. The second file, AutoNotify.ahk, is an AHKBot Looper script which is a simple infinite loop that receives and runs additional AutoHotKey scripts. The AHKBot Looper was in turn observed downloading the Screenshotter module, which includes code to capture screenshots from the compromised device. Both Looper and Screenshotter used the C2 IP address 181.49.105[.]59 to receive commands and upload screenshots.

    Figure 4. Screenshot of the email showing the link to download a malicious Excel file
    Figure 5. Macro code to install the malicious MSI file from hxxps://acusense[.]ae/umbrella/

    GuLoader and Remcos delivered in tax-themed phishing emails

    On March 3, 2025, Microsoft observed a tax-themed phishing campaign targeting CPAs and accountants in the United States, attempting to deliver GuLoader and Remcos malware. The campaign, which consisted of less than 100 emails, began with a benign rapport-building email from a fake persona asking for tax filing services due to negligence by a previous CPA. If the recipient replied, they would then receive a second email with the malicious PDF. This technique increases the click rates on the malicious payloads due to the established rapport between attacker and recipient.

    The malicious PDF attachment contained an embedded URL. If the attachment was opened and the URL clicked, a ZIP file was downloaded from Dropbox. The ZIP file contained various .lnk files set up to mimic tax documents. If launched by the user, the .lnk file uses PowerShell to download a PDF and a .bat file. The .bat file in turn downloaded the GuLoader executable, which then installed Remcos.

    Figure 6. Sample phishing email shows the original benign request for tax filing services, followed by another email containing a malicious PDF attachment if the target replies.
    Figure 7. The PDF attachment contains a prominent blue “Download” button that links to download of the malicious payload. The button is overlaid over a blurred background mimicking a “W-2” tax form, which further contributes to the illusion of the attachment being a legitimate tax file.

    GuLoader is a highly evasive malware downloader that leverages encrypted shellcode, process injection, and cloud-based hosting services to deliver various payloads, including RATs and infostealers. It employs multiple anti-analysis techniques, such as sandbox detection and API obfuscation, to bypass security defenses and ensure successful payload execution.

    Remcos is a RAT that provides attackers with full control over compromised systems through keylogging, screen capturing, and process manipulation while employing stealth techniques to evade detection.

    Mitigation and protection guidance

    Microsoft recommends the following mitigations to reduce the impact of this threat.

    • Educate users about protecting personal and business information in social media, filtering unsolicited communication, identifying lure links in phishing emails, and reporting reconnaissance attempts and other suspicious activity.
    • Turn on Zero-hour auto purge (ZAP) in Defender for Office 365 to quarantine sent mail in response to newly-acquired threat intelligence and retroactively neutralize malicious phishing, spam, or malware messages that have already been delivered to mailboxes.
    • Pilot and deploy phishing-resistant authentication methods for users.
    • Enforce multifactor authentication (MFA) on all accounts, remove users excluded from MFA, and strictly require MFA from all devices in all locations at all times.
    • Implement Entra ID Conditional Access authentication strength to require phishing-resistant authentication for employees and external users for critical apps.
    • Encourage users to use Microsoft Edge and other web browsers that support Microsoft Defender SmartScreen, which identifies and blocks malicious websites including phishing sites, scam sites, and sites that contain exploits and host malware.
    • Educate users about using the browser URL navigator to validate that upon clicking a link in search results they have arrived at an expected legitimate domain.
    • Enable network protection to prevent applications or users from accessing malicious domains and other malicious content on the internet.
    • Configure Microsoft Defender for Office 365 to recheck links on click. Safe Links provides URL scanning and rewriting of inbound email messages in mail flow and time-of-click verification of URLs and links in email messages, other Microsoft Office applications such as Teams, and other locations such as SharePoint Online. Safe Links scanning occurs in addition to the regular anti-spam and anti-malware protection in inbound email messages in Microsoft Exchange Online Protection (EOP). Safe Links scanning can help protect your organization from malicious links that are used in phishing and other attacks.
    • Turn on cloud-delivered protection in Microsoft Defender Antivirus or the equivalent for your antivirus product to cover rapidly evolving attacker tools and techniques. Cloud-based machine learning protections block a huge majority of new and unknown variants.
    • Enable investigation and remediation in full automated mode to allow Defender for Endpoint to take immediate action on alerts to resolve breaches, significantly reducing alert volume.
    • Run endpoint detection and response (EDR) in block mode, so that Defender for Endpoint can block malicious artifacts, even when your non-Microsoft antivirus doesn’t detect the threat or when Microsoft Defender Antivirus is running in passive mode. EDR in block mode works behind the scenes to remediate malicious artifacts detected post-breach.

    Microsoft Defender XDR detections

    Microsoft Defender XDR customers can refer to the list of applicable detections below. Microsoft Defender XDR coordinates detection, prevention, investigation, and response across endpoints, identities, email, apps to provide integrated protection against attacks like the threat discussed in this blog.

    Customers with provisioned access can also use Microsoft Security Copilot in Microsoft Defender to investigate and respond to incidents, hunt for threats, and protect their organization with relevant threat intelligence.

    Microsoft Defender Antivirus

    Microsoft Defender Antivirus detects threat components used in the campaigns shared in this blog as the following:

    Microsoft Defender for Endpoint

    The following alerts might indicate threat activity associated with this threat. These alerts, however, can be triggered by unrelated threat activity and are not monitored in the status cards provided with this report.

    • Possible Latrodectus activity
    • Brute Ratel toolkit related behavior
    • A file or network connection related to ransomware-linked actor Storm-0249 detected
    • Suspicious phishing activity detected

    Microsoft Defender for Office 365

    Microsoft Defender for Office 365 offers enhanced solutions for blocking and identifying malicious emails. These alerts, however, can be triggered by unrelated threat activity.

    • A potentially malicious URL click was detected 
    • Email messages containing malicious URL removed after delivery
    • Email messages removed after delivery
    • A user clicked through to a potentially malicious URL
    • Suspicious email sending patterns detected
    • Email reported by user as malware or phish

    Defender for Office 365 also detects the malicious PDF attachments used in the phishing campaign launched by Storm-0249.

    Microsoft Security Copilot

    Security Copilot customers can use the standalone experience to create their own prompts or run the following pre-built promptbooks to automate incident response or investigation tasks related to this threat:

    • Incident investigation
    • Microsoft User analysis
    • Threat actor profile
    • Threat Intelligence 360 report based on MDTI article
    • Vulnerability impact assessment

    Note that some promptbooks require access to plugins for Microsoft products such as Microsoft Defender XDR or Microsoft Sentinel.

    Threat intelligence reports

    Microsoft customers can use the following reports in Microsoft products to get the most up-to-date information about the threat actor, malicious activity, and techniques discussed in this blog. These reports provide the intelligence, protection information, and recommended actions to prevent, mitigate, or respond to associated threats found in customer environments.

    Microsoft Defender Threat Intelligence

    Microsoft Security Copilot customers can also use the Microsoft Security Copilot integration in Microsoft Defender Threat Intelligence, either in the Security Copilot standalone portal or in the embedded experience in the Microsoft Defender portal to get more information about this threat actor.

    Hunting queries

    Microsoft Sentinel

    Microsoft Sentinel customers can use the TI Mapping analytics (a series of analytics all prefixed with ‘TI map’) to automatically match the malicious domain indicators mentioned in this blog post with data in their workspace. If the TI Map analytics are not currently deployed, customers can install the Threat Intelligence solution from the Microsoft Sentinel Content Hub to have the analytics rule deployed in their Sentinel workspace.

    Furthermore, listed below are some sample queries utilizing Sentinel ASIM Functions for threat hunting across both Microsoft first-party and third-party data sources.

    Hunt normalized Network Session events using the ASIM unifying parser _Im_NetworkSession for IOCs:

    let lookback = 7d;
let ioc_ip_addr = dynamic(["181.49.105.59 "]); 
_Im_NetworkSession(starttime=todatetime(ago(lookback)), endtime=now())
| where DstIpAddr in (ioc_ip_addr) 
| summarize imNWS_mintime=min(TimeGenerated), imNWS_maxtime=max(TimeGenerated), EventCount=count() by SrcIpAddr, DstIpAddr, DstDomain, Dvc, EventProduct, EventVendor

    Hunt normalized File events using the ASIM unifying parser imFileEvent for IOCs:

    let ioc_sha_hashes=dynamic(["fe0b2e0fe7ce26ae398fe6c36dae551cb635696c927761738f040b581e4ed422","bb3b6262a288610df46f785c57d7f1fa0ebc75178c625eaabf087c7ec3fccb6a","9728b7c73ef25566cba2599cb86d87c360db7cafec003616f09ef70962f0f6fc",
"3c482415979debc041d7e4c41a8f1a35ca0850b9e392fecbdef3d3bc0ac69960","165896fb5761596c6f6d80323e4b5804e4ad448370ceaf9b525db30b2452f7f5","a31ea11c98a398f4709d52e202f3f2d1698569b7b6878572fc891b8de56e1ff7",
"a1b4db93eb72a520878ad338d66313fbaeab3634000fb7c69b1c34c9f3e17727","0b22a0d84afb8bc4426ac3882a5ecd2e93818a2ea62d4d5cbae36d942552a36a","4d5839d70f16e8f4f7980d0ae1758bb5a88b061fd723ea4bf32b4b474c222bec","9bffe9add38808b3f6021e6d07084a06300347dd5d4b7e159d97e949735cff1e"]);  
imFileEvent
  | where SrcFileSHA256 in (ioc_sha_hashes) or TargetFileSHA256 in (ioc_sha_hashes)
  | extend AccountName = tostring(split(User, @'')[1]), AccountNTDomain = tostring(split(User, @'')[0])
  | extend AlgorithmType = "SHA256"

     Hunt normalized Web Session events using the ASIM unifying parser _Im_WebSession for IOCs:

    let lookback = 7d;
let ioc_domains = dynamic(["slgndocline.onlxtg.com ", "cronoze.com ", "muuxxu.com ", "proliforetka.com ", "porelinofigoventa.com ", "shareddocumentso365cloudauthstorage.com", "newsbloger1.duckdns.org"]);
  _Im_WebSession (starttime=ago(lookback), eventresult='Success', url_has_any=ioc_domains)
 | summarize imWS_mintime=min(TimeGenerated), imWS_maxtime=max(TimeGenerated), EventCount=count() by SrcIpAddr, DstIpAddr, Url, Dvc, EventProduct, EventVendor

    In addition to the above, Sentinel users can also leverage the following queries, which may be relevant to the content of this blog.

    Indicators of compromise

    BruteRatel C4 and Lactrodectus infection chain

    Indicator Type Description
    9bffe9add38808b3f6021e6d07084a06300347dd5d4b7e159d97e949735cff1e SHA-256 lrs_Verification_Form_1730.pdf
    0b22a0d84afb8bc4426ac3882a5ecd2e93818a2ea62d4d5cbae36d942552a36a SHA-256 Irs_verif_form_2025_214859.js
    4d5839d70f16e8f4f7980d0ae1758bb5a88b061fd723ea4bf32b4b474c222bec SHA-256 bars.msi
    a1b4db93eb72a520878ad338d66313fbaeab3634000fb7c69b1c34c9f3e17727 SHA-256 BRc4, filename: nvidiamast.dll
    hxxp://rebrand[.]ly/243eaa Domain name URL shortener to load fake DocuSign page
    slgndocline.onlxtg[.]com Domain name Domain used to host fake DocuSign page
    cronoze[.]com Domain name BRc4 C2
    muuxxu[.]com Domain name BRc4 C2
    proliforetka[.]com Domain name Latrodectus C2
    porelinofigoventa[.]com Domain name Latrodectus C2
    hxxp://slgndocline.onlxtg[.]com/87300038978/ URL Fake DocuSign URL
    hxxps://rosenbaum[.]live/bars.php URL JavaScript downloading MSI

    RaccoonO365

    Indicator Type Description
    shareddocumentso365cloudauthstorage[.]com Domain name RaccoonO365 domain

    AHKBot

    Indicator Type Description
    a31ea11c98a398f4709d52e202f3f2d1698569b7b6878572fc891b8de56e1ff7 SHA-256 Tax_Refund_Eligibility_Document.xlsm
    165896fb5761596c6f6d80323e4b5804e4ad448370ceaf9b525db30b2452f7f5 SHA-256 umbrella.msi
    3c482415979debc041d7e4c41a8f1a35ca0850b9e392fecbdef3d3bc0ac69960 SHA-256 AutoNotify.ahk
    9728b7c73ef25566cba2599cb86d87c360db7cafec003616f09ef70962f0f6fc SHA-256 AHKBot Screenshotter module
    hxxps://business.google[.]com/website_shared/launch_bw.html?f=hxxps://historyofpia[.]com/Tax_Refund_Eligibility_Document.xlsm URL URL redirecting to URL hosting malicious Excel file
    hxxps://historyofpia[.]com/Tax_Refund_Eligibility_Document.xlsm URL URL hosting malicious Excel file
    hxxps://acusense[.]ae/umbrella/ URL URL in macro that hosted the malicious MSI file
    181.49.105[.]59 IP address AHKBot C2

    Remcos

    Indicator Type Description
    bb3b6262a288610df46f785c57d7f1fa0ebc75178c625eaabf087c7ec3fccb6a SHA-256 2024 Tax Document_Copy (1).pdf
    fe0b2e0fe7ce26ae398fe6c36dae551cb635696c927761738f040b581e4ed422 SHA-256 2024 Tax Document.zip
    hxxps://www.dropbox[.]com/scl/fi/ox2fv884k4mhzv05lf4g1/2024-Tax-Document.zip?rlkey=fjtynsx5c5ow59l4zc1nsslfi&st=gvfamzw3&dl=1 URL URL in PDF
    newsbloger1.duckdns[.]org Domain name Remcos C2

    References

    Learn more

    For the latest security research from the Microsoft Threat Intelligence community, check out the Microsoft Threat Intelligence Blog: https://aka.ms/threatintelblog.

    To get notified about new publications and to join discussions on social media, follow us on LinkedIn at https://www.linkedin.com/showcase/microsoft-threat-intelligence, and on X (formerly Twitter) at https://x.com/MsftSecIntel.

    To hear stories and insights from the Microsoft Threat Intelligence community about the ever-evolving threat landscape, listen to the Microsoft Threat Intelligence podcast: https://thecyberwire.com/podcasts/microsoft-threat-intelligence.

    MIL OSI Economics –

  • MIL-OSI USA: Durbin, Foster Introduce American Innovation Act

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    April 03, 2025

    As the Trump Administration continues to ax critical research funding, Durbin and Foster introduce legislation that would bolster research funding at five federal research agencies

    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL) and U.S. Representative Bill Foster (D-IL-11) today reintroduced the bicameral American Innovation Act, which would provide annual budget increases at a rate of five percent, indexed to inflation, for cutting edge research at five federal agencies: the Department of Energy Office of Science; the National Science Foundation; the National Institute of Standards and Technology Scientific and Technical Research Services; the Department of Defense Science and Technology Programs; and the National Aeronautics and Space Administration (NASA) Science Directorate.  The American Innovation Act would position the U.S. as a leader in development and discovery for decades to come by creating steady, sustained funding for breakthrough research at America’s top research agencies.

    “In its crusade to damage essential government infrastructure, the Trump Administration has failed to recognize that sustained support for basic scientific research has enabled the United States to put a man on the moon, build the internet, and produce a COVID-19 vaccine in record time.  If we want to maintain our status as a world leader in research and technology, we must empower and fund our federal research agencies and retain their top talent,” said Durbin.  “I’m introducing the American Innovation Act to ensure our nation’s scientists and researchers have access to critical funding to push our world forward while also creating jobs, growing our economy, and improving our national security.”

    “I’m proud to work with Senator Durbin on this legislation to expand federal investment in scientific research,” said Foster.  “Since World War II, investments in science and technology have helped expand our economy, create millions of jobs, and advance our national security.  As we confront new and existing challenges, it’s critical that our scientists have the resources they need to ensure our nation remains at the forefront of research and innovation.”

    The introduction of the American Innovation Act comes as the Trump Administration continues to gut federal research agencies by slashing programs and firing scientists conducting critical research.  These moves only harm the future of the U.S., as investments in scientific research have helped the nation lead the world in new technologies, create millions of jobs, grow the economy, and advance national security.  Further, without serious federal investment in research, the U.S. could fall behind its competitors, particularly China.

    Basic science funding in the U.S. has lagged in recent decades. Since the 1970’s, the United States investment in basic science has decreased by tenfold to about 0.1 percent of GDP.  Meanwhile, China’s research intensity (GDP expenditures on R&D) has increased by 500 percent since 1996– if this trend continues, China will soon surpass the U.S. in investment in science.

    The American Innovation Act is cosponsored by U.S. Senators Tammy Duckworth (D-IL), Alex Padilla (D-CA), Mazie Hirono (D-HI), and Brian Schatz (D-HI).

    The legislation has earned the endorsement of the American Society of Mechanical Engineers; Association of American Universities; American Mathematical Society; Association of Public and Land-Grant Universities; Council on Undergraduate Research, Institute for Progress; Coalition for Academic Scientific Computation; American Physical Society; Federation of American Scientists; American Geophysical Union; and the Institute of Electrical and Electronics Engineers.

    A one-pager on the legislation can be found here.

    -30- 

    MIL OSI USA News –

  • MIL-OSI United Kingdom: South Yorkshire kicks off £125 million plans to get Britain back to health and work

    Source: United Kingdom – Government Statements

    Press release

    South Yorkshire kicks off £125 million plans to get Britain back to health and work

    Liz Kendall visits Barnsley to unveil first of nine ‘trailblazers’ which will get people back to health and back to work, supported by £18m of £125m investment

    • First trailblazer programme to tackle inactivity and boost employment launches in South Yorkshire. 
    • In the first year, South Yorkshire will work with over 7,800 people and aim to help up to 3,000 people into jobs or to stay in jobs.
    • Trailblazers at heart of wider efforts to Get Britain Working and boost economic growth under the Plan for Change.

    Work and Pensions Secretary Liz Kendall has unveiled the first of nine trailblazer programmes in Barnsley to get Britain back to health and back to work, nine months on from her landmark speech on employment reforms in the same town.

    South Yorkshire is one of nine £125 million backed ‘inactivity trailblazers’ across the country to launch, with the aim of helping areas with the highest levels of economic inactivity as part of the wider Plan for Change. 

    Backed by £18 million, South Yorkshire plans a dedicated new service working with employers to hire those with health conditions, and a new “triage” system to make it quicker and easier to connect people to employment, health, and skills support. 

    This work will include preventing people falling out of work completely due to ill health through an NHS programme, working with people with conditions ranging from cardiovascular disease to diabetes. This could include arranging voluntary work as a stepping stone to paid employment or helping people receive the right treatment early so they can remain in a job. Similar NHS programmes have also kicked off this week in the North East and West Yorkshire. 

    South Yorkshire has already had success in tailoring support to meet the needs of local people, including:

    • Gerald who spent years working in the coal mining industry. With the help of South Yorkshire, he’s developing his digital skills and first aid abilities so he can continue to share his knowledge with others through volunteering. 
    • Ruby who has a learning and physical disability. She was told she would never walk or work, but South Yorkshire worked with local employer Barnsley Norse, who provide cleaning and caretaking services, to create a bespoke role with amended duties, including shorter shifts so she could build stamina and confidence. 
    • John, who has improved his prospects through engagement with South Yorkshire, working towards a qualification in English and Maths. He is volunteering with Barnsley Museums and now has paid employment with Age UK, and two relief positions with the Museums service. 

    Work and Pensions Secretary, Liz Kendall MP said: 

    For too long, whole areas of the UK have been written off and deprived of investment. We are turning the tide on this – as we believe in the potential of every single person across our country and that they deserve to benefit from the security and dignity that good work affords.

    This is why we’re investing £125 million into nine local areas to get Britain back to health and back to work – with our new approach making it quicker and easier for people to access the support they need to stay in work if they have a health condition or return to work.

    South Yorkshire is the first to kick off their innovative plans – backed by £18 million – and we will be launching more areas in the coming weeks as we put more money in people’s pockets, boost living standards and Get Britain Working under our Plan for Change.

    South Yorkshire Mayor, Oliver Coppard said:

    We know that South Yorkshire’s industrial past has left a legacy of poor health and low skills that holds people back right across our communities; holding people back from accessing good work, making the most of their potential or living their fullest lives. 

    That’s why we developed the pioneering Pathways to Work approach here in Barnsley, and why we’re now working with the Government to roll that programme out across the whole of South Yorkshire. From today people will receive tailored support, bringing together the health system, the skills and employment system, to truly help people back into decent work. 

    I’m really pleased that South Yorkshire is now leading with the first inactivity trailblazer and NHS growth accelerator to launch in the UK, because it means we can help people more quickly and more effectively, and in a more tailored way. That’s not just the right thing to do for those people locked out of finding good work, it’s the right thing for our economy too, helping us to create the bigger and better economy we need and deserve here in our region.

    Minister for Public Health and Prevention, Ashley Dalton MP added:

    Poor health is holding back too many people across the country, keeping them languishing on waiting lists when they could be getting back to their jobs and lives. Innovative services like these are critical to tackling economic inactivity.

    This support will get people working again, which is vital because we know being in work leads to better overall heath and helps grow the economy. 

    Though the Plan for Change we will make people healthier, reduce pressure on the NHS, all while helping them into fulfilling and rewarding careers.

    The trailblazer programmes, which have been designed largely by civil servants based in Sheffield working with Mayoral Combined Authorities, are part of the Government’s wider efforts to reach an 80 per cent employment rate, which includes a record £1 billion investment in helping disabled people and those with long-term health conditions who can work into work and an overhaul of Jobcentres to make sure they meet the needs of employers.

    Through their new initiatives, South Yorkshire aims to reduce inactivity from 25.5% in 2023 to under 20% by the end of 2029 – equivalent to helping 40,000 people across the area. Their trailblazer has been shaped by Barnsley’s Pathways to Work Commission – a landmark report that heard directly from local residents who have experienced barriers to accessing work.  

    Once a crucible of the industrial revolution from steelmaking to coal mining, South Yorkshire has felt the full brunt of the industrial slump – and denied the investment and opportunity to thrive, with many people suffering from long-term health conditions. 

    This new funding will help unlock the potential of the hardworking people across the region and help them get back to health and back to work. This is central to the government’s drive to deliver growth across the region – and will work alongside the 10-year Sheffield Growth Plan.

    South Yorkshire marks one of nine inactivity trailblazers going live across England and Wales. In the coming weeks, similar schemes will launch in: Greater Manchester, North East, York and North Yorkshire, West Yorkshire, Wales; and three in London (West London, South London and Local London). 

    In addition, eight youth trailblazer areas will also be set up across mayoral authorities in England with £45 million funding in the coming weeks, to ensure all 18–21-year-olds have access to education, training, and employment opportunities.  

    The government has published local Get Britain Working Plan guidance for Local Government and stakeholders across England to develop a coordinated approach to supporting people into and remaining in good work. 

    As part of a drive to show transparency and track delivery, the Government is also publishing Get Britain Working outcome metrics, based on analysis of the ONS’ Labour Force Survey data.

    Further Information

    • With 230,000 economically inactive people in South Yorkshire, £10 million of the investment will go towards helping people who have been inactive for less than two years, as well as those with long-term health conditions, in Barnsley, Doncaster, Sheffield and Rotherham.  
    • The remaining £8 million will fund the NHS Accelerator programme. This is the first time that the NHS in England will have responsibility for work as well as health outcomes, with similar schemes rolling out in West Yorkshire and the North East. They will also improve access to Talking Therapies, which provides treatment such as cognitive behavioural therapy to adults. 
    • Both programmes aim to work with a total of 7,800 people and help up to 3,000 of those into jobs or to stay in work in the first year. 
    • Sheffield’s Growth Plan is a 10-year plan to grow the economy, giving local people higher living standards and more opportunities. The South Yorkshire inactivity trailblazer represents that this government is focusing investment on places still experiencing the consequences of the past.
    • The nine inactivity trailblazers, backed by £125 million of UK Government funding, is giving power to the Welsh Government and some Mayoral Authorities to design joined up work, health and skills offers.
    • Funding for Scotland and Northern Ireland has been devolved in the usual way.
    • The Get Britain Working metrics have been published: Get Britain Working outcomes – GOV.UK
    • The measures have been built based on analysis of the ONS’ Labour Force Survey data and segment out health related inactivity, regional variations in employment rates and the disability employment rate gap.
    • The local Get Britain Working Plan guidance has been published: Guidance for Developing local Get Britain Working plans (England) – GOV.UK
    • The guidance will ensure all areas are working towards the government’s 80% employment ambition. 
    • The eight youth trailblazers will be in: Liverpool, West Midlands, Tees Valley, East Midlands, West of England, and Cambridgeshire & Peterborough and two in London
    • Employment support measures are fully transferred to Northern Ireland. Jobcentre Plus services is reserved in both Scotland and Wales, but the Scottish Government and the Welsh Government also deliver other forms of employment support. The funding announced in the Pathways to Work Green Paper is UK wide, the share of funding for devolved Governments will be calculated in the usual way.
    • The UK Government also plans to establish new governance arrangements with the Scottish and Welsh Governments to help frame discussions around the reform of Jobcentres and agree how best to work in partnership on shared employment ambition across devolved and reserved provision.
    • The announcement of the first inactivity trailblazer comes as the Government and National Institute of Health Research (NIHR) invests £7.4 million in four research projects across the UK to help reduce health-related economic inactivity.

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Record £13.9 billion of R&D funding unveiled to boost innovation, jobs and growth

    Source: United Kingdom – Government Statements

    News story

    Record £13.9 billion of R&D funding unveiled to boost innovation, jobs and growth

    Funding outlined to support transformational R&D in areas like life sciences, green energy, engineering and beyond.

    £13.9 billion for research and development to drive growth and innovation.

    • Almost £14 billion of R&D funding allocated to bolster life sciences, green energy, space and beyond to improve lives and grow the economy
    • Investing in public R&D essential to driving our Plan for Change by delivering better public services and opening up business opportunities
    • Blood tests for early dementia diagnosis and world’s most advanced testing facility for wind power among supported projects

    More UK innovators like those developing treatment-transforming dementia tests or building world-leading testing facilities to power a greener planet are being backed through our record £13.9 billion in R&D funding to improve lives and drive our Plan for Change.

    The Department for Science, Innovation and Technology (DSIT) has set out today (Friday 4 April) how it will allocate £13.9 billion in funding for transformational research and development in the next year in areas like life sciences, green energy, engineering and beyond. UK Research and Innovation (UKRI) – the UK’s lead public research funder – will receive £8.8 billion over the next year.

    This funding will drive forward research that could transform lives and help make our NHS fit for the future – like the work on blood tests to diagnose dementia earlier, a disease affecting more than 980,000 people in the UK. Researchers are exploring whether looking for proteins specific to many forms of dementia, alongside a quick and easy test of patients’ cognitive functions, could unlock a fast, cheaper and non-invasive way of diagnosing the disease.

    Public investment in R&D is also central to progress that grows the economy through new jobs and commercial opportunities. Each pound of public R&D investment is also estimated to leverage double in private investment in the long run. Businesses that receive their first R&D grant funding also see jobs and turnover go up by over 20% in the following six years.

    Public R&D funding delivered through UKRI is already supporting teams at the University of Plymouth to tackle the serious global issue of antimicrobial resistance, where bacteria evolve to resist medicines that once killed them – making infections harder to treat, increasing medicine costs for and pressure on our NHS and hitting the economy as more suffer ill health.

    Their discovery of a new antibiotic, Epidermicin, is undergoing trials and has led to spinout company, Amprologix – potentially providing health professionals with a silver bullet in the battle against such bacterial infections, dubbed ‘superbugs’, whilst opening up new commercial opportunities in the UK.

    Similarly, UKRI R&D funding has also proven vital in developing the technologies we need to help position the UK as a clean energy superpower, such as the £86 million in ongoing funding towards building the world’s most advanced wind turbine test facility in Blyth. It is supporting the growth of the wind turbine market, creating local jobs and encouraging investment in the sector.

    Science and Technology Secretary, Peter Kyle, said:

    Our £13.9 billion investment in R&D is ultimately an investment in the future of the UK.

    R&D is essential to fulfilling this government’s Plan for Change – whether in improving lives across the UK and beyond through new life-saving drugs, helping us build a cleaner, greener future or in exploring beyond our planet to unlock new discoveries that keep us healthy, safe and prosperous and much more besides.

    It is also central to creating highly paid jobs and opportunities to set up new businesses across the UK, which will drive the economic growth that is key to supporting our public services and enhancing our daily lives.

    The government is also investing nearly £670 million in space, through the UK Space Agency to help develop the space industry in the UK – employing 50,000 people in the UK – and ensure British companies like Airbus are involved in exploration beyond our planet, putting Britain back into the space race and unlocking new opportunities for discovery that can benefit life on earth.

    For example, up to £160 million of previous investment over the next four years will propel Britain’s position in the global satellite communications market, enhancing high-speed internet access to remote and underserved areas and in turn bridging the digital divide for citizens.

    The Department’s investment in R&D to protect our planet also includes £310 million for the Met Office, which while most well-known for providing accurate weather forecasting for the UK also provides the UK’s most advance climate modelling, which is essential to understanding the extent and impacts of climate change and how it can and will affect all of our lives.

    The allocation of this record £13.9 billion in funding follows the Chancellor’s announcement at the Budget that the government would protect record levels of R&D spending, with £20.4 billion being invested over the coming year across all government departments.

    UKRI CEO, Professor Dame Ottoline Leyser, said:

    Research and innovation play a crucial role in driving sustainable economic growth, creating jobs and improving public services for people across the UK. 

    This allocation safeguards the capability of the UK’s world class research and innovation ecosystem and enables investment to support the government’s five missions. 

    UKRI will use its unique position in the research and innovation system to make smart and strategic investment choices, delivering the best outcomes now and in the future, and making the most effective use of public money.

    Further information

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 4 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Rep. Nadler, Brooklyn Borough President Antonio Reynoso, Elected Officials Join Red Hook Rally to Champion the Brooklyn Marine Terminal’s Future

    Source: United States House of Representatives – Congressman Jerrold Nadler (10th District of New York)

    Red Hook, NY – Today, Congressman Jerrold Nadler joined a rally organized by Voices of the Waterfront, a local coalition of concerned citizens who feel left out of the planning process for the massive, 122+ acre Brooklyn Marine Terminal redevelopment project. The rally will focused on the importance of a fair and equitable plan that delivers sustainable jobs tied to a true working waterfront as well as responsible coastal management keeping in mind the effects of climate change.

    “I have been an advocate and a supporter of the port of New York and New Jersey for more than forty years,” said Congressman Nadler. “Red Hook is the only remaining container port facility on the eastern side of the Hudson River. It is thriving and well managed, employing hundreds of people with good paying jobs and connecting our region to the world economy. It is of critical importance to New York City and the entire region that this port remains open and not converted or needlessly carved up for housing or other uses. Community and port experts agree that the priority for the city must be investments for a modern, efficient, and green port container facility. For too long the Port Authority, State and City have not properly invested in this facility and allowed it to fall into disrepair. With EDC taking ownership, it is now up to the city to fund these improvements. The City must make these improvements without linking these improvements to market rate housing. Keep them separate. Any change in zoning and potential new housing that is contemplated in the Red Hook neighborhood outside the port must not be rushed but evaluated through theregular land use review processes established by the city planning commission. This ensures full community participation and transparency. My message to the City and the task force members is clear: I urge you to approve port improvements now and defer housing decisions for later through the ULURP process.”

    Congressman Nadler represented the Red Hook Piers for thirty years is steadfast in his belief that Brooklyn’s last working waterfront be planned for the future and not downsized.

    Congressman Nadler was also joined by Antonio Reynoso, Brooklyn Borough President; Alexa Aviles, Councilmember for District 38, Jumaane Wiliams, NYC’s Public Advocate; Marcela Mitaynes, Assembly District 51 and Shahana Hanif, Councilmember for District 39. 

     

    Congressman Nadler’s full remarks as prepared: 

     

    “I have been an advocate and a supporter of the port of New York and New Jersey for more than forty years. Red Hook is the only remaining container port facility on the eastern side of the Hudson River. It is thriving and well managed, employing hundreds of people with good paying jobs and connecting our region to the world economy. It is of critical importance to New York City and the entire region that this port remain open and not be converted or needlessly carved up for housing or other uses. Community and port experts agree that the priority for the City must be investments for a modern, efficient, and green container port facility.

    For too long, the Port Authority, the State and City have not properly invested in this facility and have allowed it to fall into disrepair. With EDC taking ownership, it is now up to the city to fund these improvements. The City must make these improvements without linking them to market rate housing. Keep them separate.

    Any change in zoning and potential new housing that is contemplated in the Red Hook neighborhood outside the port must not be rushed, but evaluated through the regular land use review processes established by the city planning commission. This ensures full community participation and transparency. My message to the City and the task force members is clear: I urge you to approve port improvements now and defer housing decisions for later through the ULURP process.

    Additionally, as everyone knows, all of our current container ports (except Red Hook) lie on Newark Bay: Newark, Elizabeth and Howland Hook.  Newark Bay, unfortunately, is on the other side of the Kill Van Kull, a narrow and treacherous body of water that separates Staten Island on the south and Bayonne on the north.

    In the event that a large ship were to sink, or be sunk, in the Kill Van Kull, most of our port would be closed for weeks, or even months, and with it, much of the region’s import supply chain.

    The security threat posed by having all our ports located in Newark Bay was illustrated last year, in Baltimore, when a container ship lost power and hit and destroyed the Key Bridge, blocking the entrance to the Port of Baltimore.  This tragic mishap highlights concerns that our port is vulnerable to closure – either by intentional or unintentional acts – because it is only accessible via the Kill Van Kull.

    EDC has stated its determination to shrink the Red Hook cargo facility, which serves as New York City’s only deepwater port.  In addition to shedding hundreds of jobs, increasing truck traffic, and raising transportation costs to New Yorkers, this policy would result in all of the port capacity upon which New York City relies being located on the other side of the Kill Van Kull, an arrangement which, as noted, has great susceptibility to major disruption and to easy attack.  We cannot allow that to happen.

    We need commerce and ships coming into the New York side of the Harbor where two-thirds of the population of this region live. The current operator, Red Hook Container Terminals LLC, plays an important role in our local economy, directly providing more than 500 jobs.  These are not low-paying retail or service-oriented jobs, but good high-paying union jobs, with healthcare and pension benefits – jobs that support families who live in the city. 

    Now that the City owns the Red Hook piers, it should be doing everything possible to expand and invest in the port in Brooklyn for our safety and security, and for the commerce, jobs, and cheap and efficient delivery of goods and services the Brooklyn port can provide.  Housing on the piers is not compatible with this.

    Let me repeat, and stress, that I strongly urge the City and EDC not to tie this port to housing, to fully commit to the necessary investments in the Red Hook piers, and to work with the port operator to ensure the long-term viability of the port and the survival of all these jobs.  It is imperative, from both an economic and security perspective, that this facility be kept open and operating, modernized and expanded to encompass the entire Brooklyn Marine Terminal.

    And if the City wants to propose more housing in Red Hook, it must be independently evaluated and not tied to preserving the port.  Any change in zoning and potential new housing that is contemplated in the Red Hook neighborhood outside the port must not be rushed, but evaluated by City Planning under a ULURP process, with the community participation that comes with that process.

    Again, my message to the City and the task force members is clear: I urge you to approve port improvements now and defer housing decisions for later through the ULURP Process.”

     

    ###

     

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Dina Titus Leads Letter Urging President Trump Not to Eliminate Support for Museums and Libraries

    Source: United States House of Representatives – Congresswoman Dina Titus (1st District of Nevada)

    Congresswoman Dina Titus is leading a letter signed by 127 members of the House of Representatives urging President Trump to reconsider his executive order dismantling the Institute of Museum and Library Services.

    “Eliminating the IMLS would deprive millions of Americans of the educational resources they need to succeed in today’s society,” Congresswoman Titus said. “Libraries and museums are part of the cultural bedrock of this nation, driving learning, innovation, and community engagement. We should be enhancing museum and library services — not decimating them.”

    “Libraries and museums are critical to local communities, providing educational and other services to people of all ages and backgrounds,” said Congresswoman Suzanne Bonamici. “The proposal to eliminate the Institute of Museum and Library Services is unacceptable. I’ve heard from many Oregonians and local institutions with grave concerns about losing this necessary stream of funding. Closing IMLS will hurt the American people for years to come, and we will fight every step of the way to save it.”

    The full text of the letter to President Trump is as follows:

    We write to express our deep concern over the proposed elimination of the Institute of Museum and Library Services (IMLS) and the devastating impact such cuts would have on communities throughout the country. 

    The IMLS is the only federal agency dedicated to supporting America’s museums and libraries. Operating in all 50 states and U.S. territories, it plays a vital role in strengthening these institutions which serve as essential educational, cultural, and economic pillars in our communities. From early literacy programs and STEM education initiatives to high-speed internet access and job training resources, funding for the IMLS enables libraries and museums to provide critical services to millions of Americans. The loss of this funding would be particularly devastating for rural, tribal, and other underserved communities that rely heavily on these institutions for access to learning resources, workforce development, and technological infrastructure.

    Beyond their valuable contributions to education and social development, museums and libraries also serve as significant economic drivers. The American Alliance of Museums reports that museums alone contribute more than $50 billion to the U.S. economy each year and support over 726,000 jobs. Museums have immense power to draw tourism and foot traffic to other local businesses and revitalize communities. For every $1 that museums and other nonprofit cultural organizations receive in government funding, they return more than $5 in tax revenue. They also have broad public support, with 96% of Americans wanting to maintain or increase federal funding for museums.   Libraries similarly generate economic returns through workforce training programs, small business support, and research services. Nearly all of the approximately 17,000 public libraries across the nation offer Wi-Fi access at no charge, and in 2019, Americans accessed the Internet using library computers close to 224 million times.  This includes millions of students who lack adequate broadband access at home and rely on libraries to complete their homework.  Despite this, IMLS funding accounts for a mere 0.0046% of the federal budget, an incredibly modest investment relative to the immense benefits these institutions provide.

    Eliminating the IMLS would not only jeopardize these essential services but also dismiss the everyday needs of millions of Americans who rely on libraries and museums for learning, job opportunities, and community engagement. We urge the Administration to reconsider this decision and recognize the far-reaching impact of IMLS funding. Maintaining and strengthening federal support for museums and libraries is not just an investment in cultural preservation, it is an investment in education, innovation, and economic growth.

    Thank you for your attention to this important matter. We look forward to working with you to ensure that America’s libraries and museums continue to thrive and serve the public.

    MIL OSI USA News –

  • MIL-Evening Report: Yes, data can produce better policy – but it’s no substitute for real-world experience

    Source: The Conversation (Au and NZ) – By Anna Matheson, Associate Professor in Public Health and Policy, Te Herenga Waka — Victoria University of Wellington

    Shutterstock

    Governments like to boast that “data-driven” policies are the best way to make fair, efficient decisions. They collect statistics, set targets and adjust strategies to suit.

    But while data can be useful, it’s not neutral. There are biases and blind spots in the systems that produce the data. Worse, data often lacks the depth, context and responsiveness needed to drive real-world change.

    The real questions are about who decides which data matter, how it’s interpreted – and what the change based on the data might look like.

    Take the Social Investment Agency, for example. One of New Zealand’s best-known data-driven initiatives, it was established to improve the efficiency of social services using data and predictive analytics to identify individuals and families most at risk, directing funding accordingly.

    The model is intended to guide early interventions and prevent long-term harm. And on paper, this appears to be a smart, targeted strategy. Yet it has also faced criticism over the risk of data-driven policies reducing individuals to measurable statistics, stripping away the complexity of lived experiences.

    The result is that decision making remains centralised within government agencies rather than being shaped by the communities most affected.

    What data can’t tell us

    The Social Investment Agency also relies on Stats NZ’s Integrated Data Infrastructure, a database of anonymised administrative information. While a rich source for longitudinal research and policy development, this too has limitations.

    It relies heavily on government-collected data, which may embed systemic bias and fail to represent communities accurately. Without accounting for context, some populations may be underrepresented or misrepresented, leading to skewed insights and misguided policy recommendations.

    This kind of data is completely separate from the lived reality of the people the data describes. Māori in particular have been concerned about a lack community ownership and that the Integrated Data Infrastructure does not currently align with their own data sovereignty aspirations.

    Given this greater likelihood of misrepresentation, Māori and Pasifika communities worry that data-driven funding models, on their own, fail to account for more holistic, whānau-centered approaches.

    For instance, a predictive algorithm might flag a child as “at risk” based on socioeconomic indicators. But it would fail to also measure protective factors such as strong cultural connections, intergenerational knowledge and community leadership.

    This is where the kaupapa Māori initiative Whānau Ora provides an alternative model. Instead of viewing individuals in isolation, it prioritises the needs of families to provide tailored housing, education, health and employment support.

    A Whānau Ora COVID vaccination campaign in 2021 funded Māori health providers to reach at-risk communities in the North Island.
    Getty Images

    Change from the ground up

    Funded by Te Puni Kōkiri/Ministry of Māori Development, Whānau Ora has been criticised in the past for the lack of measurable outputs data-driven systems can offer. But research has also shown community-led models produce better long-term outcomes than traditional, top-down, data-driven welfare and service delivery models.

    A 2018 review found Whānau Ora strengthened family resilience, improved employment outcomes and increased educational engagement – for example, through supporting whānau into their own businesses and off social assistance.

    Whānau Ora’s work strengthening community networks and building self-determination migh be harder to measure using standard metrics, but it has long-term economic and social benefits.

    Similarly, data-driven approaches to disease prevention can fall short. While governments might rely on obesity rates or physical activity levels to shape interventions, these blunt measurements fail to capture the deeper social and economic factors that affect health.

    Too often, strategies target individual behaviours – calorie counting, exercise tracking – assuming better data leads to better choices. But we know local conditions, including what financial and community resources are available, matter much more.

    An example of this in action is Health New Zealand/Te Whatu Ora’s Healthy Families NZ division. With teams in ten communities around the country, it works to create local change to improve health.

    Instead of simply telling people to eat better and exercise more, it has supported community action to reshape local environments so healthier choices become easier to make.

    In South Auckland, for example, Healthy Families NZ has worked with local businesses to improve access to fresh, affordable food. In Invercargill, it has helped transform urban planning policies to expand green spaces for physical activity.

    Data in perspective

    Such initiatives recognise health is about more than just individuals. It is a shared outcome that results from systemic processes. Data-driven approaches by themselves struggle to capture these less measurable pathways and relationships.

    That is not to say government-led, data-driven methods don’t often diagnose the problem correctly – just that they frequently fail to provide solutions that empower communities to make lasting change.

    Rather than over-relying on data analytics to dictate funding, or on national health targets to guide the system, cross-sector and place-based initiatives such as Whānau Ora and Healthy Families NZ can teach us a lot about what works in the real world.

    Data will always have an important role to play in shaping policy, but this requires a broader perspective. Data offers a tool for communities, not a substitute for their leadership and voice. Real system change happens when we fundamentally rethink how change happens, and who leads that change in the first place.

    Anna Matheson has been leading the evaluation of Healthy Families NZ which is funded by Health New Zealand.

    – ref. Yes, data can produce better policy – but it’s no substitute for real-world experience – https://theconversation.com/yes-data-can-produce-better-policy-but-its-no-substitute-for-real-world-experience-253527

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Governor Josh Stein and NCDHHS Secretary Dev Sangvai Hold Roundtable in Nash County on NC Medicaid in Rural Communities

    Source: US State of North Carolina

    Headline: Governor Josh Stein and NCDHHS Secretary Dev Sangvai Hold Roundtable in Nash County on NC Medicaid in Rural Communities

    Governor Josh Stein and NCDHHS Secretary Dev Sangvai Hold Roundtable in Nash County on NC Medicaid in Rural Communities
    lsaito

    Raleigh, NC

    Today, Governor Josh Stein and North Carolina Health and Human Services Secretary Dev Sangvai joined rural health providers and community leaders for a roundtable discussion on how access to health care coverage through NC Medicaid is a lifeline for rural communities. With Congress considering cuts to the program, leaders noted rural communities would be particularly hard hit.  

    “NC Medicaid is an innovative and fiscally responsible program that has thrived with bipartisan support and helps keep North Carolinians healthy, especially in rural communities,” said Governor Josh Stein. “We must protect this life-changing health care that gives more than 3 million North Carolinians peace of mind and that strengthens our rural hospitals.”

    In some rural counties, more than half of the population has affordable health coverage through NC Medicaid. In addition, Medicaid is a major source of funding for the state’s rural hospitals, many of which are struggling financially. When more people have health care coverage, hospitals have a lower burden for covering the cost of care for those who remain uninsured, better supporting financial stability.

    Access to health care makes North Carolinians healthier – more than 230,000 people in rural communities enrolled in Medicaid under expansion and can now get check-ups, prescriptions and other services they need. Across the state, Medicaid covers 3 million people, or 1 in 4 North Carolinians, including children, older adults, people living with disabilities and working adults.

    “NC Medicaid saves lives by providing preventive screenings, care during and after pregnancy, mental health support, substance use treatment, low cost prescriptions and so much more,” said Secretary Sangvai. “North Carolinians know the value and importance of what NC Medicaid does for communities and our state.”

    The roundtable was hosted by UNC Health Nash, a non-profit hospital authority in Nash County that serves patients from several rural counties in eastern NC. The discussion falls at a critical time for the Medicaid program, as federal proposals threaten to harm the program and the people it serves. Despite widespread support for Medicaid, Congress is proposing massive cuts that will hurt North Carolina. Current proposals could take health coverage away from 640,000 working North Carolinians overnight, worsen health outcomes, take billions from our economy, disproportionately harm rural communities, and drive up costs for everyone, including employers.

    “Hospitals like Nash see first-hand every single day how Medicaid provides patients with access to critical services that keep them healthy and able to work and contribute to society,” said L. Lee Isley, president and CEO of UNC Health Nash. “Any cuts to Medicaid or the direct payment programs that reimburse hospitals for their services to these patients would have catastrophic and unintended consequences. Not only would these cuts significantly limit patient access to healthcare, but they would force rural hospitals to shutter services that are essential to the health of a community.”

    Other roundtable participants included: 

    • Dr. L. Lee Isley, FACHE, President and CEO, UNC Health Nash
    • Reuben Blackwell, CEO, OIC Family Medical Center, Rocky Mount City Council
    • Dr. Joanna Dauber, DO, NCMP, Family Medicine and Primary Care Provider, UNC Health Nash
    • Tyronda “Ty” Whitaker, Regional Long Term Care Ombudsman, Upper Coastal Plain Council of Governments 
    Apr 3, 2025

    MIL OSI USA News –

  • MIL-OSI: Texas Capital Bancshares, Inc. Announces Date for Q1 2025 Operating Results

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, April 03, 2025 (GLOBE NEWSWIRE) — Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, today announced that it expects to issue financial results for the first quarter of 2025 before market on Thursday, April 17, 2025. Executive management will host a conference call and webcast to discuss first quarter 2025 operating results on Thursday, April 17, 2025, at 9:00 a.m. EDT.

    Participants may pre-register for the call by visiting https://www.netroadshow.com/events/login?show=c5d392d2&confId=80603 and will receive a unique PIN number to be used when dialing in for the call for immediate access.

    Alternatively, participants may call 833.470.1428 and use the access code 580174 at least fifteen minutes prior to the call to join through an operator.

    The live webcast can be found at https://events.q4inc.com/attendee/299753902. Corresponding presentation slides can be accessed on the company’s investor website at http://investors.texascapitalbank.com.

    An audio replay will be available one hour after the conclusion of the call on the company’s investor website.

    ABOUT TEXAS CAPITAL BANCSHARES, INC.
    Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit www.texascapital.com.

    The MIL Network –

  • MIL-OSI USA: Ricketts Celebrates New Sustainable Beef Facility: “This is What Value-Added Agriculture Looks Like”

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)
    WASHINGTON, D.C. – Yesterday, U.S. Senator Pete Ricketts (R-NE), celebrated the new Sustainable Beef processing facility. Ricketts spoke at the ribbon-cutting ceremony last week. He made the following comments while on a conference call with Nebraska media:
    “Sustainable Beef is a huge win for North Platte, for Nebraska, and for the entire beef industry,”Ricketts said. “Local businesses in North Platte are expanding. More families are moving in. This is what happens when we invest in agriculture. This is what value-added agriculture looks like. It’s taking our products and processing them to capture more of the economics.”
    “The COVID-19 pandemic showed us how dangerous it is to depend upon Communist China for critical supply chains,” Ricketts continued. “Without our farmers and ranchers, America would depend on other countries for the food we eat. That’s why facilities like Sustainable Beef are so important. They strengthen our economy, defend our way of life, and protect our domestic food supply chain. With the dedication of Nebraska’s producers, the future of our beef industry is bright.”
    [embedded content]
    Watch the video here
    TRANSCRIPT:
    Senator Ricketts: “Agriculture is the heart and soul of what we do in Nebraska. 
    “One in four jobs in Nebraska is related to agriculture. 
    “We’re the Beef State. Beef is essential to our state’s economy.  
    “Last year, Nebraska led the nation with over $2 billion in beef exports. 
    “We also led the nation in commercial cattle slaughter, with nearly 6.9 million head processed.  
    “You know, we have about three cows for every person in Nebraska. 
    “Nebraska ranchers help feed the world. 
    “Our beef industry is not just a part of our economy. It is a part of our way of life. 
    “Recently, we celebrated a major win for our state’s beef industry. 
    “I joined over 1,000 people in North Platte for the ribbon-cutting of the new Sustainable Beef processing plant. 
    “This facility will process about 1,500 head of cattle per day when it’s fully operational. 
    “It will create about 850 good-paying jobs. 
    “It will also add $1 billion a year to the local economy. 
    “This is the power of Nebraskans coming together to solve problems. 
    “The journey to that day started years ago. 
    “When I was Governor of Nebraska, I led a trade mission to Japan and Vietnam. 
    “On that trip, I spoke with Nebraska cattle producers about the challenges they faced. 
    “They shared their concerns about the prices cow-calf operators were getting for their cattle. 
    “I told them the answer was competition. 
    “That conversation led a group of Nebraska ranchers to come together and launch Sustainable Beef. 
    “Now, their vision is a reality. 
    “Sustainable Beef is a huge win for North Platte, for Nebraska, and for the entire beef industry. 
    “Local businesses in North Platte are expanding. 
    “More families are moving in. 
    “This is what happens when we invest in agriculture. 
    “This is what value-added agriculture looks like. 
    “It’s taking our products and processing them to capture more of the economics. 
    “This new plant will also be proof that we can grow our economy while protecting our natural resources and our economy. 
    “Nebraska ranchers already lead the way in sustainability. 
    “They know how to take care of their cattle and their land. 
    “Sustainable Beef will continue that tradition by focusing on responsible production practices that respect our environment. 
    “Food security is national security. 
    “The COVID-19 pandemic showed us how dangerous it is to depend upon Communist China for critical supply chains. 
    “Without our farmers and ranchers, America would depend on other countries for the food we eat. 
    “That’s why facilities like Sustainable Beef are so important. 
    “They strengthen our economy, defend our way of life, and protect our domestic food supply chain. 
    “With the dedication of Nebraska’s producers, the future of our beef industry is bright.”

    MIL OSI USA News –

  • MIL-OSI: Mountain America Credit Union Donates Over 300 Shoes to Idaho Falls Elementary School

    Source: GlobeNewswire (MIL-OSI)

    IDAHO FALLS, Idaho, April 03, 2025 (GLOBE NEWSWIRE) — In partnership with Operation Warm, Mountain America Credit Union donated over 300 brand-new pairs of shoes to students from Hawthorne Elementary on March 20, 2025. Held at the Mountain America Center, the event was a celebration of community spirit and compassion. Volunteers from Mountain America, Mountain America Center, and Idaho State University (ISU) athletics came together to personally fit each child with shoes in their favorite color—ensuring they step into the warmer months with confidence, comfort, and joy.

    A Media Snippet accompanying this announcement is available by clicking on this link.

    “We are so thankful for the support of Mountain America Credit Union and Mountain America Center, and what they have done for our students,” said Mark Morgan, principal of Hawthorne Elementary. “Being able to see the smiles and all the happiness as they put on their new shoes and take them home has been super exciting for them and for us. It’s great to know the love and support that our eastern Idaho community shows to all our students and educators.”

    This initiative is part of Mountain America’s continued effort to support local communities through its donation programs in partnership with ISU athletics. Since 2016, Mountain America has contributed to selected nonprofits for every first down completed by the ISU football team and every three-pointer made by the men’s basketball team. For the 2024–2025 season, Operation Warm was selected to help provide new shoes to children in Eastern Idaho.

    ​In Idaho, approximately 13% of children live below the poverty line, underscoring the critical importance of initiatives like these. Operation Warm’s mission is to provide warmth, confidence, and hope to children through basic need programs that connect under-resourced children to community resources they require to thrive. The provision of new shoes not only offers physical comfort but also enhances a child’s self-esteem and readiness to engage in learning.

    “At Mountain America, our commitment to community shines brightest when we see the joy on children’s faces as they receive new shoes,” said Sterling Nielsen, president and CEO at Mountain America. “Partnering with Operation Warm allows us to provide not just footwear, but also warmth and hope to children in need.”

    To learn more about Mountain America’s community involvement, visit macu.com/newsroom.

    About Mountain America Credit Union
    With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multiple states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.

    The MIL Network –

  • MIL-OSI: FinWise Bancorp to Host First Quarter 2025 Earnings Conference Call and Webcast on Wednesday, April 30, 2025

    Source: GlobeNewswire (MIL-OSI)

    MURRAY, Utah, April 03, 2025 (GLOBE NEWSWIRE) — FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), the parent company of FinWise Bank, today announced that it will report its first quarter 2025 results and host a conference call and webcast after the market close on Wednesday, April 30, 2025.

    Conference Call Information

    The conference call will be held at 5:30 p.m. ET to discuss financial results for the first quarter of 2025. The dial-in number is 1-877-423-9813 (toll-free) or 1-201-689-8573 (international). The conference ID is 13752183. Please dial the number 10 minutes prior to the scheduled start time.

    Webcast Information

    The webcast will be available on the Company’s website at FinWise Earnings Call Live Webcast and a replay of the call will be available at Investor Relations | FinWise Bancorp (gcs-web.com) for six months following the call.

    Submission of Conference Call Questions

    In addition to questions asked live by analysts during the call, the Company will also accept for consideration questions submitted via email prior to 5:30 p.m. ET on Wednesday, April 30, 2025. Please email questions to investors@finwisebank.com.

    About FinWise Bancorp

    FinWise provides Banking and Payments solutions to fintech brands. The Company is expanding and diversifying its business model by incorporating Payments (MoneyRailsTM) and BIN Sponsorship offerings. Its existing Strategic Program Lending business, conducted through scalable API-driven infrastructure, powers deposit, lending and payments programs for leading fintech brands. In addition, FinWise manages other Lending programs such as SBA 7(a), Owner Occupied Commercial Real Estate, and Leasing, which provide flexibility for disciplined balance sheet growth. Through its compliance oversight and risk management-first culture, the Company is well positioned to guide fintechs through a rigorous process to facilitate regulatory compliance.

    For more information on FinWise Bank, visit https://investors.finwisebancorp.com.

    Contacts:
    investors@finwisebank.com
    media@finwisebank.com

    The MIL Network –

  • MIL-OSI USA: Reps. McGarvey, Barr Reintroduce White Oak Resilience Act to Support Bourbon Industry

    Source: United States House of Representatives – Congressman Morgan McGarvey (Kentucky-03)

    April 03, 2025

    Congressmen Morgan McGarvey (KY-03) and Andy Barr (KY-06), Co-chairs of the Congressional Bourbon Caucus, introduced the White Oak Resilience Act today, bipartisan legislation that promotes the long-term health of the American white oak – a keystone species essential to forest ecosystems and a critical component of Kentucky’s signature bourbon industry.

    Without decisive action, the American white oak population is projected to decline substantially within the next 10 to 15 years, with even steeper losses anticipated in the decades ahead. Congressman Barr’s bill takes a proactive approach to combat this threat, emphasizing collaboration between federal agencies, the private sector, and land grant institutions.

    “It’s crucial we take action to grow more white oak trees now – it’s good for our planet, our economy, and our signature bourbon industry, which cannot exist without white oak barrels,” said Congressman Morgan McGarvey. “I’m proud to join Congressman Barr, my fellow Co-Chair of the Congressional Bourbon Caucus, on this bipartisan legislation to protect Kentucky’s white oak tree population for decades to come.”

    “The White Oak Resilience Act is not just about saving a species of tree,” said Congressman Andy Barr. “It’s about conserving biodiversity, strengthening rural economies, and protecting Kentucky’s bourbon industry, which depends on white oak barrels to deliver the distinct flavor that defines our world-famous product. This legislation is a smart, forward-looking investment in our economy, our environment, and our cultural heritage.”

    “The lumber industry and the bourbon barrel manufacturing industry have employed generations of southeastern Kentuckians. White oak logs are the iconic staple of the staves that are used to make the 53-gallon bourbon barrels that are made in Kentucky and shipped around the world. The white oak is also a substantial habitat and food source for our wildlife. So, I am proud to join my Kentucky colleague Rep. Andy Barr to protect the future of our essential white oak trees to focus on restoration and regeneration in our national forests,” said Congressman Hal Rogers.

    “I’m proud to cosponsor the White Oak Restoration Act, which would implement collaborative strategies to sustain White Oak forestry for the future,” said Congressman Brett Guthrie. “This bill is vital to protect Kentucky’s environmental resources and grow our economy. Taking the necessary steps to restore the regeneration of White Oak will ensure our ability to bolster industries in Kentucky.”

    “Without white oak trees, there is no Kentucky bourbon. To protect and enhance our white oak forests, I’m proud to be joining Representative Barr and my colleagues today in introducing the White Oak Resilience Act. White oak is the backbone of the bourbon industry, and our bipartisan legislation will ensure Kentucky’s world-class distilleries continue to have access to this critical resource. I look forward to working with my colleagues to get this bill to the President’s desk,” said Congressman James Comer.

    “While there are plenty of white oak trees out there right now, the data clearly shows that regeneration isn’t happening at the levels we’ve historically seen, and soon this will be a serious problem for everything from the American bourbon industry to native plants and wildlife if we don’t act today,” said Jason Meyer, Executive Director of the White Oak Initiative. “Fortunately, this bill proposes much-needed measures to rejuvenate our white oak forests, promoting biodiversity and supporting the hard-working folks who rely on them.”

    The bill empowers the Department of the Interior and the U.S. Forest Service to lead white oak restoration projects and establishes a White Oak Restoration Fund to support public-private partnerships focused on regeneration, reforestation, and long-term sustainability.

    Kentucky’s $9 billion bourbon industry depends on new, charred white oak barrels to age its products – making the health of white oak forests not just an environmental concern, but an economic one.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Rosen Helps Introduce Bipartisan Bill to Eliminate Taxes on Military Retirement Pay

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV) helped introduce a bipartisan bill to provide financial relief for veterans and their families. The bipartisan Tax Cuts for Veterans Act would eliminate federal taxes on military retirement pay.
    “Veterans in Nevada and across our nation have made huge sacrifices to keep our nation safe, and the least we can do is ensure they can keep all of their retirement pay,” said Senator Rosen. “I’m proud to have helped introduce this bipartisan bill to make military retirement tax-free, giving the courageous men and women who served in uniform greater financial relief and stability.”
    Senator Rosen has been fighting for Nevada’s veterans. She has sent letters demanding that the VA reverse harmful plans to reduce their workforce, calling on the VA to permanently reverse layoffs, and pushing for answers regarding mass employee terminations. Last month, she helped introduce legislation to reinstate veterans wrongfully fired by President Trump and Elon Musk. She also took to the Senate floor to oppose the actions of the Trump Administration and Musk to mass fire employees working at the VA. Senator Rosen also demanded the VA provide answers regarding mass employee terminations.

    MIL OSI USA News –

  • MIL-OSI USA: FACT SHEET: Trump Imperils Program to Help Working Americans Heat and Cool Their Homes

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Trump and RFK Jr. fired entire staff running LIHEAP—putting program that helps 6 million American households heat and cool their homes in grave jeopardy
    $378 million due to go out to help Americans avoid sweltering heat this summer now at risk
    Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, responded to President Trump and Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. firing the entirety of the staff who run the Low Income Home Energy Assistance Program (LIHEAP), which helps 6 million American households with the tightest budgets afford to heat and cool their homes.
    6 MILLION HOUSEHOLDS SERVED BY LIHEAP ANNUALLY
    In a statement, Senator Murray said:
    “As he raises costs for American families by $3,800 and works to give billionaires like himself new tax breaks, Trump has now also fired all the staff in charge of helping over 6 million American households heat and cool their homes.
    “If the idea here is to prevent federal funding from reaching working class families who are counting on help to cool their homes this summer, Trump and RFK Jr. are on to something—because who exactly is supposed to ensure this funding gets out now? In a matter of weeks, HHS is due to send states hundreds of millions of dollars in new resources ahead of the summer heat—who is going to ensure that happens? When HHS has to quickly turn around new appropriations in October to release funding to states ahead of the winter cold, who is going to ensure that is done quickly and correctly?
    “Even a brief delay could ruin the finances of working families who are hanging on by a thread if this money doesn’t get out—and leave seniors stranded in deadly heat waves this summer. If there are serious errors with calculations that end up shortchanging communities, we have Trump and RFK Jr. to thank for firing the very people who keep this program running.
    “Donald Trump and Elon Musk would like us to believe that our country cannot afford to pay the salaries of the people who help working people across America heat and cool their homes—but that we can afford over $5 trillion in new tax breaks for billionaires like themselves. It is as absurd as it is offensive—and it is working people across the country who will suffer the consequences of their recklessness.”
    LIHEAP helps 6 million households in every state and territory afford to heat and cool their homes with $4.1 billion in assistance for fiscal year 2025. The program is particularly important in ensuring working class Americans and vulnerable populations like seniors are not left in deadly heat waves or winter freezes. Each year, extreme heat causes more deaths than any other weather events.
    Approximately $378 million in fiscal year 2025 funding to help Americans cool their homes this summer has yet to go out. Without it, Americans will lose out on a lifeline that saves them money each month and allows them to stay cool.
    A state-by-state breakdown of LIHEAP funding in jeopardy because Trump and RFK Jr. fired the entirety of the staff that run the program is below:
    STATE
    FUNDING
    HOUSEHOLDS SERVED
    Alabama
    $61,827,868
    80,636
    Alaska
    $12,514,996
    4,737
    Arizona
    $34,579,159
    27,788
    Arkansas
    $38,052,625
    69,242
    California
    $252,804,332
    222,271
    Colorado
    $60,504,810
    88,951
    Connecticut
    $80,405,772
    101,181
    Delaware
    $14,532,965
    11,431
    District of Columbia
    $12,663,494
    14,893
    Florida
    $118,510,347
    106,968
    Georgia
    $93,715,302
    137,619
    Hawaii
    $8,322,955
    8,349
    Idaho
    $23,198,387
    34,439
    Illinois
    $197,224,161
    172,841
    Indiana
    $84,494,967
    122,931
    Iowa
    $58,755,595
    83,353
    Kansas
    $40,143,968
    39,185
    Kentucky
    $60,361,460
    119,407
    Louisiana
    $61,891,569
    103,858
    Maine
    $41,291,192
    41,195
    Maryland
    $82,939,890
    96,798
    Massachusetts
    145,506,393
    152,011
    Michigan
    $179,606,815
    431,842
    Minnesota
    $125,243,116
    133,166
    Mississippi
    $38,710,989
    46,243
    Missouri
    $87,476,893
    130,057
    Montana
    $23,598,855
    17,254
    Nebraska
    $35,797,133
    41,270
    Nevada
    $17,014,767
    12,273
    New Hampshire
    $30,873,308
    29,669
    New Jersey
    $135,718,896
    241,888
    New Mexico
    $21,859,849
    43,592
    New York
    $400,902,563
    1,162,529
    North Carolina
    $114,199,252
    201,988
    North Dakota
    $23,610,179
    14,633
    Ohio
    $171,388,890
    265,455
    Oklahoma
    $43,138,184
    112,440
    Oregon
    $44,165,847
    57,454
    Pennsylvania
    $215,460,689
    312,789
    Rhode Island
    $26,802,894
    26,052
    South Carolina
    $53,276,376
    48,638
    South Dakota
    $21,292,485
    23,787
    Tennessee
    $75,921,984
    118,073
    Texas
    $197,192,608
    120,725
    Utah
    $28,641,042
    24,344
    Vermont
    $23,140,644
    26,695
    Virginia
    $103,773,588
    118,347
    Washington
    $66,214,242
    84,654
    West Virginia
    $35,191,790
    56,108
    Wisconsin
    $112,736,789
    189,941
    Wyoming
    $11,065,033
    7,615
    TOTAL
    $4,115,400,000
    5,939,605
    Funding listed is the full FY24 allocation released to states by HHS. FY25 allocations are not yet final or fully disbursed. [HHS DATA]
    Households served is the number of households served by LIHEAP in FY23—the latest data on record. [HHS DATA]

    MIL OSI USA News –

  • MIL-OSI Canada: Canada announces new countermeasures in response to tariffs from the United States of America

    Source: Government of Canada – Prime Minister

    Yesterday, the United States administration announced a series of unwarranted and unjustified tariffs that will fundamentally change the international trading system. While some important elements of the Canada U.S. trade relationship have been preserved, new tariffs on automobiles have now entered into force. These are on top of the previously announced tariffs, including those on steel and aluminum, which remain in place.

    The U.S. tariffs will do harm to American workers and businesses, but Canada will also be impacted, with every Canadian feeling the effects. The Government of Canada’s position has always been clear: we will fight these tariffs, protect our workers, and build the strongest economy in the G7.

    The Prime Minister of Canada, Mark Carney, today announced new countermeasures to protect Canadian workers and businesses and defend Canada’s economy. These countermeasures include:

    • Twenty-five per cent tariffs on non-CUSMA compliant fully assembled vehicles imported into Canada from the United States.
    • Twenty-five per cent tariffs on non-Canadian and non-Mexican content of CUSMA compliant fully assembled vehicles imported into Canada from the United States.
    • Canada’s intention to develop a framework for auto producers that incentivizes production and investment in Canada.

    Most importantly, every single dollar raised from these tariffs will go directly to support our auto workers.

    These measures build on the Government of Canada’s previously announced supports to Canadian workers and business, including:

    • Temporarily waiving the one-week employment insurance (EI) waiting period.
    • Suspending rules around separation for a six-month period, so workers don’t have to exhaust severance pay before collecting EI.
    • Making it easier to access EI by increasing regional unemployment rate percentages.
    • Deferring corporate income tax payments and GST/HST remittances from April 2 to June 30, 2025, providing up to $40 billion in liquidity to businesses.
    • Deploying a new financing facility for businesses.
    • Providing more funding to Canada’s regional development agencies, so they can better support businesses.

    In a crisis like this, it’s important to come together and act with strength, purpose, and force – and that’s exactly what we’re doing.

    Quote

    “The global economy is fundamentally different today than yesterday. We must respond with purpose and force and take every step to protect Canadian workers and businesses against the unjust tariffs imposed by the United States, including on automobiles. We will never cease to defend the interests of Canadians, safeguard our workers and businesses, and continue our pursuit to build the strongest economy in the G7.”

    Quick Facts

    • Canada and the United States have the world’s most comprehensive and dynamic trading relationship, which supports millions of jobs in both countries. US$2.5 billion worth of goods and services cross the border every day.
    • On March 4, 2025, U.S. tariffs of 25 per cent on Canadian goods and 10 per cent on energy and potash exports from Canada to the U.S. came into effect. On March 12, 2025, the U.S. imposed tariffs of 25 per cent on Canadian steel and aluminum products.
    • On April 3, U.S. tariffs of 25 per cent on Canadian automobiles came into effect, targeting the auto industry and the more than 500,000 Canadians this industry supports across the country.
      • The U.S. also intends to apply 25 per cent tariffs on certain automobile parts before May 3. Under the U.S. tariffs certain exclusions linked to U.S. content may be available, specifically, the application of the 25 per cent tariff only to the value of the non-U.S. content in automobiles and auto parts that qualify for preferential tariff treatment under CUSMA.
    • Canada has responded to the U.S. imposition of tariffs on Canadian goods by introducing a suite of countermeasures designed to compel the U.S. to remove the tariffs as soon as possible. These countermeasures include:
      • Imposing tariffs of 25 per cent on a valued $30 billion in goods imported from the U.S., effective March 4, 2025.
      • Launching a public comment period on potential counter tariffs on additional imports from the U.S.
      • Imposing, as of March 13, 2025, 25 per cent reciprocal tariffs on a list of steel products worth $12.6 billion and aluminum products worth $3 billion, as well as additional imported U.S. goods worth $14.2 billion, for a total of $29.8 billion to match U.S. tariffs on steel and aluminum dollar-for-dollar.

    Associated Links

    MIL OSI Canada News –

  • MIL-OSI USA: Duckworth Statement Slamming President Trump’s Newly Announced Tariffs That Will Raise Prices for Americans

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth

    April 02, 2025

    [WASHINGTON, D.C.] – Today, U.S. Senator Tammy Duckworth (D-IL) issued the following statement after President Donald Trump unveiled his latest round of tariffs—which will raise prices for Illinois families and farmers, disrupt supply chains and jeopardize American jobs:

    “I have always pushed and will continue pushing for robust trade enforcement actions that level the playing field for American workers—but tariffs should be targeted to the actors and behaviors that threatens our economy. Instead, Trump’s latest blanket tariffs will unleash economic chaos—leaving middle-class families and small businesses across our nation paying the price. Illinois is the nation’s third largest agricultural exporter, and the consequences of Trump’s chaotic, sweeping tariffs will substantially hurt our economy and be disastrous for our state’s farmers—not only making it more difficult for them to sell their products overseas but also making it harder for us to import essential commodities and foods. Whether it is automobiles, groceries and everyday essentials or the imports our farmers rely on to have a successful season, Trump’s tariffs and reckless trade wars will accomplish little other than raising costs for American consumers—costing families an extra $6,000 a year. That means he’s harming the same the middle-class families he campaigned on protecting, all while putting American jobs at risk and damaging our relationships with our allies in the process.”

    -30-

    MIL OSI USA News –

  • MIL-OSI USA: Strengthening New York’s Gun Safety Laws

    Source: US State of New York

    overnor Kathy Hochul today signed three new laws to strengthen New York’s gun violence prevention efforts and keep New Yorkers safe. The Governor also unveiled new data showing a 53 percent decline in gun violence year-to-date, when compared to pandemic-era highs. As part of this year’s Budget, Governor Hochul is proposing a significant $370 million investment to fight gun violence and keep driving down crime.

    “We’re taking action to drive down gun violence in the State of New York — protecting our communities and making our streets safer,” Governor Hochul said. “Public safety is my number one priority, and by giving law enforcement additional tools to stop gun violence in its tracks, we’re building on our promise to put the safety of New Yorkers first.”

    In 2025, shootings have declined 53 percent year-to-date when compared to pandemic-era highs three years ago: from 497 shootings statewide from January to March of 2022 to 236 shootings statewide from January to March of this year. Earlier this year, Governor Hochul announced that gun violence declined to the lowest levels on record in the 28 communities participating in the State’s Gun Involved Violence Elimination (GIVE) initiative — including Rochester, Syracuse and Yonkers — and the NYPD announced declines in shootings in New York City as well.

    Legislation S.744/A.436 will ensure there are penalties for using “pistol converters,” which are rapid-fire modification devices that can be easily attached to semi-automatic pistols to make them even deadlier by allowing rapid fire with one pull of the trigger.

    State Senator Brad Hoylman-Sigal said, “Rapid-fire modification devices are capable of transforming firearms into fully automatic machine guns and are not permitted in New York State. These rapid-fire modification devices include a wide range of gun modification devices including bump stocks, trigger cranks, and burst trigger systems. The legislation Governor Hochul is signing today makes it explicitly clear that pistol converters, also known as auto-sears, which can be used to make traditional pistols fire as many as 15 rounds in under two seconds, are a subset of rapid-fire modification devices and should be treated as such under New York State Law. I’m grateful to Governor Hochul, Senate Majority Leader Stewart-Cousins and my colleagues throughout the Legislature who once again are standing up to the gun lobby to make New York a safer place.”

    Assemblymember Jo Anne Simon said, “New Yorkers are sick of weapons manufacturers ignoring their role in the gun violence epidemic. For decades, Glock has known that its pistols can be easily and cheaply converted into illegal fully-automatic machine guns. It’s time to put people over profit. My first-in-the-nation bill has been signed into law, holding Glock and Glock-like gun manufacturers accountable for failing to prevent this easy conversion to illegal machine guns. Thank you to Governor Hochul for signing my bill, my partner Senator Hoylman-Sigal, and the advocates for working to prevent gun violence.”

    Legislation S.745/A.439 will strengthen the law that the Governor signed last year that requires credit and debit card issuers to use the merchant category code (MCC) for firearms and ammunition retailers by ensuring that it captures retailers whose bulk sales come from firearms, ammunition and firearms accessories.

    State Senator Zellnor Myrie said, “Since 2019, New York has been a national leader in taking on gun violence- and the laws Governor Hochul is signing today continues that progress. While the federal government turns a blind eye to the gun crime plaguing our communities, New York can show the way forward by passing new laws to stop the sale of weapons that can be converted into machine guns, centralize our gun violence prevention efforts, and standardize our response to mass shooting incidents wherever they occur.”

    Assemblymember Michaelle Solages said, “With today’s signing, Governor Hochul is taking a bold step to protect New Yorkers from gun violence. By requiring the use of merchant category codes for firearm and ammunition purchases, we are equipping financial institutions with a critical tool to help detect suspicious activity before it becomes a tragedy. This is a smart, data-driven approach to public safety, and I’m proud to lead the way with Senator Myrie and dedicated advocates.”

    Legislation S.743/A.437 strengthens the law the Governor signed last year that requires firearms dealers and gunsmiths to post and distribute at the time of sale information about the availability of the National Suicide Prevention Lifeline and warnings about the dangers of gun ownership, including increased risk of suicide, death during domestic disputes and unintentional death of children, household members and others. By providing consumers with this Surgeon General style warning, the law aims to promote the health and safety of the general public by educating and informing gun owners and potential buyers of the risks the weapons pose.

    State Senator Michael Gianaris said, “Education and information are key to responsible gun ownership, which will prevent injury and improve public safety. I am proud to have shepherded this proposal through the Senate and to now see it enacted into law.”

    Assemblymember Jeffrey Dinowitz said, “It is without question that there are enormous risks associated with gun ownership. By requiring firearm dealers and licensing officers to provide clear and accessible warnings about the heightened risks of suicide, domestic violence, and unintentional deaths, we are aiding people in becoming fully informed about the dangers of gun ownership while at the same time taking measures to help safeguard our communities. The inclusion of a prominently displayed 988 National Suicide Prevention Lifeline will make it easier for those in distress to access avenues of assistance when they are at their most vulnerable. I want to thank Governor Hochul for signing this entire package of bills into law and my colleague, Senator Mike Gianaris, for partnering with me on this legislation which demonstrates New York’s commitment to promoting responsible firearm ownership while protecting public health and safety.”

    Assemblymember Harvey Epstein said, “It is critical that we address the gun violence epidemic in our state and nation. So many lives have been lost as a result of our failure to pass common-sense gun regulations. Today I am happy to join Governor Hochul as we pass this package of legislation that will make our state safer.”

    Assemblymember Tony Simone said, “We are in the midst of a mental health crisis and a gun violence epidemic, and we must do everything in our power as lawmakers to combat it. We can begin by passing common-sense anti gun-violence measures, which a vast majority of gun owners support and want, which is what these three bills signed today are. I am proud to stand with Governor Hochul and my colleagues in the legislature in our resoluteness to solve these epidemics playing out in our communities.”

    The $370 million investment to reduce and prevent gun violence and strengthen communities disproportionately impacted by crime includes, but is not limited to, the following programs and initiatives administered by DCJS:

    • $50 million through the Law Enforcement Technology grant program, which provides funding so police departments and sheriffs’ offices can purchase new equipment and technology to modernize their operations and more effectively solve and prevent crime.
    • $36 million for GIVE, which funds the 28 police departments and district attorneys’ offices, probation departments and sheriffs’ offices in 21 counties outside of New York City.
    • $21 million for the SNUG Street Outreach Program, which operates in 14 communities across the state: Albany, the Bronx, Buffalo, Hempstead, Mount Vernon, Newburgh, Niagara Falls, Poughkeepsie, Rochester, Syracuse, Troy, Utica, Wyandanch and Yonkers. The program uses a public health approach to address gun violence by identifying the source, interrupting transmission, and treating individuals, families and communities affected by the violence.
    • $18 million in continued support for the State’s unique, nationally recognized Crime Analysis Center Network, and $13 million in new funding to establish the New York State Crime Analysis and Joint Special Operations Command Headquarters, a strategic information, technical assistance and training hub for 11 Centers in the State’s network and enhance existing partnerships and expand information sharing with the New York State Intelligence Center operated by the State Police, the locally run Nassau County Lead Development Center and the State’s Joint Security Operations Center, which focuses on protecting the State from cyber threats.
    • $20 million for Project RISE (Respond, Invest, Sustain, Empower) in 10 communities to support mentoring, mental health services, restorative practices, trust building, employment and education support and youth development activities, among other programs and services that address trauma resulting from long-term exposure to violence, build resilience and strengthen youth, families and neighborhoods.

    The New York State Police, the State Department of Corrections and Community Supervision, the State Office of Temporary and Disability Assistance and the State Office of Victim Services also will receive funding through that $370 million allocation.

    Other public safety initiatives outlined in Governor Hochul’s FY26 Executive Budget include $35 million for the next round of the Securing Communities Against Hate Crimes grants to increase safety and security of organizations at risk of hate crimes or attacks because of their ideology, beliefs or mission; or investments that expand support for victims and survivors of crime, including doubling funding for rape crisis centers to $12.8 million.

    MIL OSI USA News –

  • MIL-OSI USA: Krishnamoorthi Blasts Latest Trump Tariffs For Hiking Prices On Working Families And Sending Country Toward Recession

    Source: United States House of Representatives – Congressman Raja Krishnamoorthi (8th District of Illinois)

    SCHAUMBURG, IL — Congressman Raja Krishnamoorthi issued the following statement today in response to President Trump’s announcement of his “Liberation Day” tariffs:

    “Donald Trump’s blanket tariffs are a tax on working families so that he can cut taxes for the wealthiest Americans. These latest so-called ‘Liberation Day’ tariffs are reckless and self-destructive, inflicting financial pain on Illinois at a time when people are already struggling to keep their small businesses afloat and put food on the table.

    Don’t listen to Trump – these do nothing to strengthen our economy or national security. These tariffs isolate the United States on the global stage, alienate our allies, and empower our adversaries – all while forcing America’s seniors and working families to bear the brunt of higher prices. I urge all Americans to join me in calling on President Trump to end his disastrous tariff policies before he sends our country into a recession.”

    MIL OSI USA News –

  • MIL-OSI USA: Grassley Pushes Social Security Administration for Answers and Accountability on $718 Million in Alleged Improper Payments

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Sen. Chuck Grassley (R-Iowa) is pressing the Social Security Administration (SSA) for answers and corrective action to address the agency’s failure to confront verification issues that have resulted in millions, and perhaps billions, in improper Supplemental Security Income (SSI) payments. Grassley has pushed the SSA about improper payments for over two decades. He is a senior member and former chairman of the Senate Finance Committee and currently chairs the Senate Finance Subcommittee on Social Security, Pensions, and Family Policy.  
    “Every dollar lost to improper payments is one less dollar for recipients entitled to benefits. It’s imperative the Social Security Administration use available tools to weed out improper payments, sooner rather than later,” Grassley said of his most recent oversight push.
    The Access to Financial Institutions (AFI) application is a secure verification tool that allows SSA to automatically request and receive certain financial information from banking institutions to verify bank account balances for recipients and applicants. Social Security Office of Inspector General (IG) reports have shown that failures to fully utilize the AFI process can prevent accurate SSI determinations. Based on sample results, its September 2024 report estimated that 198,960 recipients received $718 million in improper payments due to undisclosed financial account funds.
    “Based on its findings, the IG recommended SSA expand use of this verification tool to catch these occurrences. Previous IG reports have also recommended more frequent use of this tool during the lifecycle of an SSI case to combat improper payments. In both cases, SSA has resisted making changes until completion of a long-delayed study. In the interest of government efficiency and substantial taxpayer savings, SSA must give a full accounting of its progress and plans to pursue an expanded use of this tool,” Grassley wrote.
    Grassley noted that verifications only occur at the initial SSI claim and at “redeterminations,” reviews for non-medical eligibility factors, including financial resources. The time between these can be substantial, allowing undiscovered improper payments to pile up. For most recipients, a redetermination occurs every one to six years, according to SSA.
    “A 2018 IG report found that SSA had not completed eligibility determinations for approximately 1.1 million SSI recipients in over 10 years. The IG estimated that, in fiscal year 2021, SSA could have prevented approximately $1.4 billion in overpayments due to financial accounts had it performed AFI searches between the initial application and redetermination,” Grassley continued.
    Grassley also outlined the cost of SSA’s self-imposed limitation on AFI’s usage for applicants or recipients who report having less than $400 in liquid assets. 
    “This policy effectively exempts a significant number of cases from AFI verification and increases SSA’s reliance on self-reported information … [An IG report] evaluated AFI data in 140 cases where no verification had taken place … It found that, of the 140 cases sampled, SSA made inaccurate SSI resource determinations for 27 recipients, paying them $130,430 in payments they were not eligible for … The IG report also highlighted earlier studies, from SSA itself, demonstrating the need for change on the issue,” Grassley wrote.
    Read Grassley’s full letter HERE.
    -30-

    MIL OSI USA News –

  • MIL-OSI: AGF Reports March 2025 Assets Under Management and Fee-Earning Assets

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 03, 2025 (GLOBE NEWSWIRE) — AGF Management Limited reported total assets under management (AUM) and fee-earning assets1 of $52.1 billion as at March 31, 2025.

                         
    AUM
    ($ billions)    		 March 31,
    2025    		   February 28,
    2025    		   % Change
    Month-Over-
    Month    		   March 31,
    2024    		   % Change
    Year-Over-
    Year    		  
    Total Mutual Fund $29.8   $31.1       $26.7      
    Exchange-traded funds + Separately managed accounts $3.0   $2.9       $1.7      
    Segregated accounts and Sub-advisory $6.2   $6.6       $7.4      
    AGF Private Wealth $8.5   $8.6       $8.0      
    Subtotal
    (before AGF Capital Partners AUM and fee-earning assets1)    		 $47.5   $49.2       $43.8      
    AGF Capital Partners $2.5   $2.5       $2.7      
    Total AUM $50.0   $51.7   -3.3 % $46.5   7.5 %
    AGF Capital Partners fee-earning assets1 $2.1   $2.1       $2.1      
    Total AUM and fee-earning assets1 $52.1   $53.8   -3.2 % $48.6   7.2 %
                         
    Average Daily Mutual Fund AUM $30.1   $31.2       $26.5      
    1 Fee-earning assets represent assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.
       
    Mutual Fund AUM by Category
    ($ billions)    		 March 31,
    2025    		   February 28,
    2025    		   March 31, 2024  
    Domestic Equity Funds $4.4   $4.5   $4.2  
    U.S. and International Equity Funds $18.1   $19.3   $15.7  
    Domestic Balanced Funds $0.1   $0.1   $0.1  
    U.S. and International Balanced Funds $1.7   $1.7   $1.7  
    Domestic Fixed Income Funds $2.0   $2.0   $1.7  
    U.S. and International Fixed Income Funds $3.2   $3.2   $3.1  
    Domestic Money Market $0.3   $0.3   $0.2  
    Total Mutual Fund AUM $29.8   $31.1   $26.7  
                 
    AGF Capital Partners AUM and fee-earning assets
    ($ billions)    		 March 31,
    2025    		   February 28,
    2025    		   March 31, 2024  
    AGF Capital Partners AUM $2.5   $2.5   $2.7  
    AGF Capital Partners fee-earning assets $2.1   $2.1   $2.1  
    Total AGF Capital Partners AUM and fee-earning assets $4.6   $4.6   $4.8  
                 

    About AGF Management Limited

    Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

    AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

    Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $52 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

    AGF Management Limited shareholders, analysts and media, please contact:

    Nick Smerek
    VP, Financial Planning & Analysis
    416-865-4337, InvestorRelations@agf.com

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