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  • MIL-OSI USA: Kaine & Coons Introduce Legislation to Require Congressional Approval of New Tariffs on U.S. Allies Ahead of Expected Trump Tariffs

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine
    WASHINGTON, D.C. – U.S. Senators Tim Kaine (D-VA), and Chris Coons (D-DE), both members of the Senate Foreign Relations Committee, introduced the Stopping Tariffs on Allies and Bolstering Legislative Exercise of (STABLE) Trade Policy Act to rein in chaos that President Trump could create by unilaterally imposing tariffs on trading partners.
    The STABLE Trade Policy Act would institute a requirement of Congressional approval before a president could impose new tariffs on U.S. allies and free trade agreement (FTA) partners. Currently, the president can impose tariffs on any nation using authorities that Congress created to combat national security risks and address international emergencies. The bill reinstates Congressional authority over trade policy and limits the president’s ability to unilaterally impose tariffs on our allies.
    “Virginians want costs to go down, not up. But President Trump’s plans to impose broad-based tariffs would raise the price of everyday goods and hurt our economy,” said Kaine. “It’s time for Congress to make it clear that no president should abuse existing tariff authorities designed to protect America’s national security from threats posed by our adversaries to slap tariffs on our allies and closest trading partners. I’m proud to introduce this legislation with Senator Coons to take that step to protect Americans’ pocketbooks from sharp price hikes and safeguard our relationships with our allies.”
    The introduction of STABLE Trade Policy Act comes shortly before President Trump’s across-the-board tariffs on Canada and Mexico are expected to be announced. On his first day in office, President Trump pledged to implement 25% tariffs on Mexico and Canada. The two nations, both members a trade agreement that President Trump negotiated, accounted for almost one-third of all U.S. goods imports last year. The tariffs set to go into effect soon are expected to raise the costs of gasoline, cars, groceries, and home goods.
    Specifically, the STABLE Trade Policy Act would:
    Require the president to explain to Congress any proposal to impose tariffs on allies and FTA partners.
    The president must explain why challenges with allies cannot be better addressed through diplomacy or other mechanisms.
    The president must assess of how tariffs will impact the U.S. economy and U.S. foreign policy interests. 

    Require Congressional approval for new or additional tariffs on imports from allies and FTA partners.
    The bill constrains tariff authorities created by Congress to combat national security risks and address international economic emergencies. 
    The executive branch retains full authority to impose safeguard tariffs to combat unfair trade practices.

    Kaine is committed to protecting Virginian families from price hikes imposed by tariffs. Last week, he introduced the Protecting Americans from Tax Hikes on Imported Goods Act to shield American families and businesses from increased costs by limiting the president’s authority to impose unlimited tariffs under the International Emergency Economic Powers Act (IEEPA).
    The full bill text is available here.

    MIL OSI USA News –

  • MIL-OSI Video: American Leadership is Back in the Western Hemisphere

    Source: United States of America – Department of State (video statements)

    American leadership is back in our hemisphere and we’re ready to work with our regional partners. Secretary of State Marco Rubio is embarking on his first trip as Secretary of State. He’ll be visiting Panama, El Salvador, Costa Rica, Guatemala, and the Dominican Republic where he will focus on mutual priorities that make Americans stronger, safer, and more prosperous.

    Read more: https://www.state.gov/secretary-rubios-travel-to-panama-el-salvador-costa-rica-guatemala-and-the-dominican-republic/

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
    X: https://x.com/StateDept
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    Subscribe to the State Department Blog: https://www.state.gov/blogs
    Watch on-demand State Department videos: https://video.state.gov/
    Subscribe to The Week at State e-newsletter: http://ow.ly/diiN30ro7Cw

    State Department website: https://www.state.gov/
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    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=vM-LBMhUVpE

    MIL OSI Video –

  • MIL-OSI USA: Sen. Freddie Powell Sims: A Warm Welcome to the 2025 Legislative Session 

    Source: US State of Georgia

    By: Sen. Freddie Powell Sims (D – Dawson)

    The 2025 Legislative Session is officially underway! On Monday, January 13, the Georgia General Assembly reconvened under the Gold Dome, marking the start of this year’s legislative session and the beginning of a new biennium.

    This legislative biennium, I am honored to continue serving on the Senate Committee on Education and Youth as Secretary and on the Senate Committee on Regulated Industries and Utilities as an Ex-Officio. I am similarly honored to serve as a member on the Senate Committees on, Agriculture and Consumer Affairs, Appropriations, Interstate Cooperation, Natural Resources and the Environment, and Urban Affairs.

    During our first week of session, Governor Brian  Kemp delivered his annual State of the State address to a joint session of the Senate and House chambers. I look forward to supporting some of his proposals, including pay raises for teachers, state employees, and first responders and efforts to strengthen our healthcare workforce. We must ensure every Georgian has access to affordable healthcare, expand opportunities for quality public education, invest in renewable energy solutions, and tackle the growing need for affordable housing across the state. These priorities are essential for creating a Georgia where every family can thrive.

    The past two weeks have been busy at the Capitol. Despite the ice and snow that significantly affected Senate District 12 last week, we still have accomplished a great deal. While “Budget Week” was officially postponed, we have continued to hold crucial joint committee meetings to make up for lost time.

    On Tuesday, I recognized the Albany Chamber of Commerce and delegates from Southwest Georgia to the Senate Chamber. The Chamber’s dedication to bolstering the economy and employing numerous Southwest Georgians across District 12 has not gone unnoticed. I commend the Chamber for their work and thank them for making the long drive to spend the day at the Capitol.

    I am proud to have co-sponsored several pieces of legislation since the beginning of the Legislative Session, including Senate Bills (SB) 53 and 54. SB 53, sponsored by Sen. Emanuel Jones (D – Decatur), would increase public education on safe firearm storage for citizens. Senate Bill 54, also sponsored by Sen. Emanuel Jones, would establish a state-wide database for schools to use to report safety threats made to schools. Addressing gun violence is vital not only to the well-being of our students but to all Georgians. We must provide all students with the safest possible learning environment. It continues to be my honor and privilege to represent you under the Gold Dome. Your voice matters, and I encourage you to share your ideas and concerns as we work together to build a stronger, fairer Georgia.

    # # # #

    Sen. Freddie Powell Sims represents the 12th Senate District which includes Baker, Calhoun, Clay, Dougherty, Early, Miller, Mitchell, Quitman, Randolph, Stewart, Sumter, Terrell and Webster County. She may be reached at (404) 463-5259 or by email at freddie.sims@senate.ga.gov.

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Sen. Chuck Hufstetler: January Under the Gold Dome

    Source: US State of Georgia

    The Georgia General Assembly is back in session and it is a privilege to return to work under the Gold Dome, where I remain steadfast in my commitment to addressing the issues that matter most to Georgians across our great state.

    This legislative session is already off to a strong start. Governor Kemp has laid out a bold vision, focusing on initiatives that include increasing funding for school safety, enhancing our skilled workforce, announcing 100,000 million dollars in relief for families and businesses impacted by Hurricane Helene, and continuing to expand access to affordable healthcare for hardworking Georgians. By investing in high-demand, high-skill, and high-wage career opportunities, we are taking critical steps to secure Georgia’s economic future.

    After an uneventful week due to the snowfall in Atlanta and South Georgia, this week concludes the third week of the 2025 Legislative Session, and we’re staying focused on passing commonsense legislation that puts Georgia families, businesses and communities first.

    Last week’s snowstorm may have delayed budget hearings for a few days, but it didn’t slow us down. The General Assembly has been hard at work in joint sessions, carefully reviewing budget requests to ensure taxpayer dollars are spent wisely. Passing a balanced budget is not only our constitutional duty—it’s the foundation of a responsible government that serves its people.

    One of the most crucial budget proposals this session is Governor Brian P. Kemp’s plan to return $1 billion in surplus funds directly to taxpayers. Thanks to years of conservative budgeting and fiscal responsibility, we’re in a position to give back to the hardworking Georgians who keep our state running. This is just part of the $2.2 billion in statewide allocations designed to benefit families, businesses and communities across Georgia. I’m proud to support Gov. Kemp’s efforts to strengthen our economy by putting more money back in your pockets.

    Another key priority is ensuring communities hit hardest by Hurricane Helene have the resources they need to rebuild. Gov. Kemp has proposed $614.72 million in recovery funding, including $150 million for the Governor’s Emergency Fund to help with debris removal and housing assistance. Another $300 million will go to the Georgia Department of Transportation to restore roads and infrastructure. Many rural counties are still reeling from this storm, and we’re committed to making sure they get the support they need to recover and move forward.

    Back at the Capitol, we hit the ground running this week, advancing legislation that reflects our values and priorities. I’m especially proud to sponsor Senate Bill 34. I introduced Senate Bill 34 in anticipation of technology companies building AI databases in Georgia. AI databases use exorbitant amounts of electricity, and I have introduced this bill to prevent electric providers from including the electric fees of these databases in typical Georgia consumer rates.

    I am honored to be re-appointed as Chairman of the Senate Committee on Finance and Ex-Officio of the Senate Committee on Appropriations, in addition to serving as a member on the Senate Committees on Health and Human Services, Higher Education and Rules. I thank Lt. Governor Jones for these appointments, and I look forward to serving District 52 and Georgia on these committees

    Finally, I encourage students ages 12 to 18 to apply for the Senate Page Program. This is an excellent way for young people to see firsthand how the General Assembly works. If you know a student who might be interested, they can apply on the Senate website here.

    As always, I’m here to listen. If you have any questions, concerns, or ideas about our work at the Capitol, please don’t hesitate to reach out. It’s an honor to serve you, and I appreciate your trust as we work together throughout the remainder of the 2025 legislative session.

    # # # #

    Sen. Chuck Hufstetler serves as Chairman of the Senate Committee on Finance. He represents the 52nd Senate District which includes portions of Bartow, Floyd, and Gordon counties. He can be reached at (404) 656-0034 or via email at chuck.hufstetler@senate.ga.gov.

    For all media inquiries, please reach out to     SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI United Nations: UN Palestinian Rights Committee Bureau Welcomes Gaza Ceasefire, Demands Full Implementation, Move towards Solution of Conflict

    Source: United Nations General Assembly and Security Council

    Also Condemns Israel’s UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) Ban Perpetuating Palestinian Suffering

    The following statement was issued today by the Bureau of the General Assembly’s Committee on the Exercise of the Inalienable Rights of the Palestinian People:

    The Bureau of the UN Palestinian Rights Committee welcomes the Gaza ceasefire as a crucial step in halting the Israeli military operations on the Palestinian civilian population since October 2023 and stemming the vast human suffering and loss of life.  As hundreds of thousands return to devastated homes, urgent and sustained humanitarian aid is essential to all civilians in need in Gaza.  The Bureau underscores the irreplaceable role of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) in delivering life-saving assistance and stabilizing the ceasefire.

    The Committee Bureau strongly condemns Israel’s adoption of legislation banning UNRWA and stripping it of its privileges and immunities, obstructing its operations in the Occupied Palestinian Territory, including East Jerusalem, in direct violation of the General Assembly mandate and resolution ES-10/25 recently adopted by the General Assembly by an overwhelming majority.  The Bureau calls on Israel, the occupying Power, to immediately suspend and reverse the implementation of this legislation that curtails UNRWA’s vital operations and will negatively impact delivery of essential services and assistance, including education and healthcare, to the Palestine refugees.

    Coming immediately after the Gaza ceasefire deal, Israel’s ban on UNRWA is a blatant move that will exacerbate Palestinian suffering — not with air strikes and bombs, but with deprivation, hunger and disease.  As affirmed by the International Court of Justice (ICJ) Advisory Opinion of July 2024, Israel, due to its status as an occupying Power, has no sovereignty in any part of the Occupied Palestinian Territory, including East Jerusalem, where the UNRWA headquarters is located.  The UNRWA ban is as unlawful as the Israeli occupation itself, which must end, as determined by the ICJ and consecutive General Assembly resolution ES-10/24 of September 2024.  This unprecedented attack on an UN-mandated agency deepens the suffering of millions of Palestine refugees, for whom UNRWA is a lifeline for survival.  The Agency’s operations are essential in all fields of operation, including to alleviating the humanitarian catastrophe in Gaza, restoring basic services and sustaining the ceasefire, and cannot be replaced.

    Israel’s actions violate the United Nations Charter, the Convention on the Privileges and Immunities of the United Nations, its obligations as the occupying Power under the fourth Geneva Convention and multiple General Assembly and Security Council resolutions. Such ongoing Israeli policies and measures will cripple humanitarian efforts, hinder Gaza’s recovery and destabilize the ceasefire, jeopardizing regional stability.  Israel must immediately cease all attacks on UNRWA and its humanitarian operations in the Occupied Palestinian Territory, including East Jerusalem, and cease all violations of international law and the human rights of the Palestinian people.

    The Committee Bureau urgently appeals to the General Assembly, the Security Council, and all Member States to categorically reject Israel’s unlawful legislation, demand its immediate repeal and insist that Israel uphold UNRWA’s mandate.  The Bureau urges prompt ICJ action, as requested by the General Assembly on 19 December 2024, to urgently deliver an Advisory Opinion on the obligations of Israel in relation to the presence and activities of the United Nations, other international organizations and third States to uphold the rule of law and obligations thereunder and to avert further Palestinian suffering.  The Committee Bureau reaffirms its support for the ceasefire agreement and calls for its full respect and implementation, leading to a lasting cessation of hostilities and a just, enduring peace, based on international law and the relevant UN resolutions, and achieving the inalienable rights of the Palestinian people and the two-State solution on the basis of the pre-1967 lines.

    MIL OSI United Nations News –

  • MIL-OSI USA: DOE Announces $7.1 Million in Support of Local Energy Project Planning, Siting and Permitting

    Source: US Office of Energy Efficiency and Renewable Energy

    WASHINGTON, D.C. — The U.S. Department of Energy (DOE) today announced the selection of four projects totaling $7.1 million to expand a program that improves planning, siting, and permitting processes for large-scale renewable energy and energy storage facilities across the United States. The collaborative teams formed through these projects, as well as 12 previously selected under the Renewable Energy Siting through Technical Engagement and Planning (R-STEP™) program, will develop and expand statewide initiatives that provide expertise, trainings, and technical resources to local governments, Tribal governments, and communities as they plan for and evaluate large-scale renewable energy and energy storage projects. 
    A significant portion of large-scale renewable energy and energy storage projects built in the coming years are likely to be built on private lands, where state and local authorities make permitting decisions. The state-based R-STEP collaboratives will evaluate the needs of stakeholders in their regions and develop tailored educational materials and technical assistance programs to improve planning and streamline project reviews and permit decisions. This will result in renewable energy and energy storage projects that contribute to strong local economies, resilient energy systems, and lower energy costs for households and businesses, especially in rural or underserved communities.
    The R-STEP collaboratives bring together stakeholders from all sides of the energy planning process, including state and regional agencies, universities, developers, technical experts, public service commissions, farmers unions, tribes, community organizations, and other trusted entities. 

    The four newly selected collaboratives are:

    Illinois: Led by University of Illinois Extension, the collaborative will build and maintain a cohort of trusted technical assistance providers in each county to help communities make informed decisions about renewable energy projects. The work will focus on developing education and outreach materials to support proactive decision-making by communities and local government officials. (Award amount: $1.9 million)
    Louisiana: Led by the Louisiana Department of Natural Resources, the collaborative will engage a diverse array of community partners in Louisiana to inform state agencies’ planning and decision-making for offshore wind facilities in state waters. (Award amount: $1.9 million)
    Minnesota: Led by University of Minnesota Extension, the collaborative will engage diverse stakeholders to assess needs, expand technical assistance services, and maintain training and educational resources to expand local officials’ capacity to engage constructively in planning, siting, and permitting for large-scale renewable energy projects. (Award amount: $1.2 million)
    Virginia: Led by the Virginia Department of Energy, the collaborative will create a centralized, stakeholder-informed hub to provide resources and access to trusted experts to increase knowledge about energy fundamentals, economic development, environmental regulations and best practices, and planning for large-scale renewable energy development. (Award amount: $1.9 million)

    DOE is currently seeking experts to provide technical assistance to the R-STEP collaboratives. Organizations with expertise on key renewable energy and energy storage planning, siting, and permitting topics are encouraged to learn more and apply by Jan. 9, 2025, at 3 p.m. ET.
    Learn more about the selected state-based collaboratives. 
    Learn more about large-scale renewable energy siting.
    R-STEP is funded by DOE’s Solar Energy Technologies Office and Wind Energy Technologies Office.
    The R-STEP program is administered by ENERGYWERX. This funding mechanism is made possible through the innovative Partnership Intermediary Agreement set up by DOE’s Office of Technology Transitions.
    Selection for award negotiations is not a commitment by DOE to issue an award or provide funding. Before funding is issued, DOE and the applicant will undergo a negotiation process, and DOE may cancel negotiations and rescind the selection for any reason during that time. DOE award amounts are subject to change pending negotiations.

    The R-STEP program has announced state-based collaborations supporting: Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Louisiana, Michigan, Minnesota, Mississippi, North Carolina and South Carolina, Oklahoma, Pennsylvania, Virginia, Washington, and Wisconsin.

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Department of Energy Announces $6.9 Million in Projects to Support Effective Community Waste-to-Energy Strategies for Local Transportation Needs

    Source: US Office of Energy Efficiency and Renewable Energy

    The U.S. Department of Energy’s (DOE) Bioenergy Technologies Office (BETO) and Vehicle Technologies Office (VTO) announced $6.9 million in funding for nine projects to support local waste-to-energy management solutions for transportation energy needs. Located across six states, these selected projects will help sustainably manage and recover potential clean energy sources from local community waste streams using innovative and cost-effective technologies to produce low-carbon biofuels.
    Organic waste streams from food waste, municipal wastewater sludge and solid waste, and manure are a key feedstock for producing biofuels and bioproducts. However, these waste streams represent one of the largest sources of greenhouse gas emissions and contribute to water, soil and air quality pollution. In addition, waste management costs for treatment, stabilization, hauling and disposal are considerable, and municipal landfills can contaminate soil and water. This funding will support local communities plan and identify waste-to-energy solutions for their waste streams, and also help reduce other impacts associated with waste collection and landfilling, including reducing heavy vehicle traffic, odors, and litter.
    “Organic waste management presents economic, environmental and health burdens for communities across the United States,” said Jeff Marootian, principal deputy assistant secretary for DOE’s Office of Energy Efficiency and Renewable Energy. “By advancing novel technologies to convert this waste into valuable energy resources, these collaborative investments will help solve local waste management challenges and support a more secure and resilient future.”
    Recognizing that local communities may be at different stages in their sustainable waste management planning efforts, the selected projects will address the above waste-to-energy needs through two topic areas:

    Topic Area 1: Feasibility Study Development Analyses 
    Topic Area 2: Design Work and Experimental Validation 

    This funding will benefit communities and transit authorities with waste-to-energy solutions and support the Federal government’s commitment to developing cutting-edge technologies that create jobs for our local communities and achieve a secure energy future. 
    Read more about these selectees and their projects, and visit BETO’s funding opportunities and VTO’s funding opportunities webpages for other upcoming funding opportunities.

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Department of Energy and Environmental Protection Agency Announce $6 Million to Support Development of Advanced Biofuels

    Source: US Office of Energy Efficiency and Renewable Energy

    Today, the U.S. Department of Energy’s (DOE) Bioenergy Technologies Office (BETO) and the U.S. Environmental Protection Agency (EPA) announced $6 million in funding for three projects that will advance biofuel development and support U.S. leadership in energy and emissions innovation. Funded through the Inflation Reduction Act (IRA), the projects will support research to improve performance and reduce costs of high-impact biofuel production technologies; scale up production systems with industry; and support the U.S bioeconomy. Located in three states, the projects will support DOE’s Sustainable Aviation Fuel (SAF) Grand Challenge goals by developing biofuel technologies that use sustainable biomass and waste feedstocks. 
    Biofuels are liquid fuels produced from renewable biological sources, including feedstocks such as plants and algae. When responsibly sourced, U.S. biofuel production can help strengthen the rural economy, move the U.S. toward greater energy independence, and support domestic production of cleaner fuels.
    These projects will provide industry with new technologies to meet EPA’s Renewable Fuel Standard (RFS) Program requirements to reduce greenhouse gas (GHG) emissions and expand the nation’s renewable fuels sector, while reducing reliance on imported transportation fuel, heating oil, and jet fuel. Using agricultural residues and wet wastes, the projects also align with DOE’s BETO: Billion-Ton 2023, an assessment of domestic renewable carbon resources that estimates that the U.S. can sustainably provide 134 million tons of agricultural residues and 32 million tons of wet waste in the near-term.  
    This funding will address the development of advanced biofuels through pre-pilot scale-up of integrated biorefinery technologies. The following projects were selected:

    Air Company Holdings, Brooklyn, New York—Biogenic Carbon Dioxide to Drop-in Sustainable Aviation Fuel
    Erg Bio Inc., Dublin, California—Demonstration of the ASPIRE Feedstock Flexible Biomass Deconstruction and Conversion Technology at the Pre-pilot Scale
    Terragia Biofuels, Hanover, New Hampshire—Continuous Conversion of Corn Stover to Ethanol Using Engineered Thermophilic Bacteria.

    Read more about these selectees and their projects, and visit BETO’s funding opportunities  to learn more about their other funding opportunities.

    About the Renewable Fuel Standard Program

    The RFS program, which is a national regulatory program implemented by the EPA, was created by Congress with the goal of reducing greenhouse gas emissions along with expanding the nation’s renewable fuels sector while reducing reliance on imported oil. The program requires a certain volume of renewable fuel to replace or reduce the quantity of petroleum-based transportation fuel, heating oil, or jet fuel. The four categories of commonly used renewable fuels are: biomass-based diesel, cellulosic biofuel, advanced biofuel and total renewable fuel.
    For more information on the RFS program, visit the EPA’s Renewable Fuel Standard Program webpage.

    MIL OSI USA News –

  • MIL-OSI USA: DOE Invests $32 Million for Grid-Edge Technology and Smart Charge Management

    Source: US Office of Energy Efficiency and Renewable Energy

    WASHINGTON, D.C.—Today, the U.S. Department of Energy (DOE) announced $32 million for six selected pilot projects that will support new load growth through grid-edge innovations and the ability of energy providers to right-size grid investments for future load growth. These Connected Communities projects in eight states will also provide new strategies and tools for utilities, grid planners and operators, automakers, electric vehicle (EV) smart charge management service providers, and the communities they serve to improve resilience and reduce costs.
    “Providing low-cost, resilient, and reliable energy to all Americans is a top priority for the DOE,” said Jeff Marootian, principal deputy assistant secretary for DOE’s Office of Energy Efficiency and Renewable Energy. “As our nation’s energy system faces unprecedented demand growth, it’s more important than ever to deploy solutions that maximize all our energy resources and deliver the most efficient, reliable, and affordable electricity possible. These pilot projects will leverage the latest grid-edge solutions—like energy efficiency, demand-responsive building systems, energy storage, EV smart charging, and advanced grid-planning strategies—to equip communities and utilities with the tools and data they need to confidently manage our evolving electric grid.”
    DOE continues to evaluate applications for this funding opportunity and intends to award additional projects up to a total of $65 million, as originally announced, with additional selections as reviews are completed. 
    Connected Communities 2.0 builds on the successes and lessons learned from the first cohort of Connected Communities, launched in 2020, and DOE’s original smart neighborhoods in Georgia and Alabama. The first Connected Communities projects focused on integration of distributed energy resources (DERs) to support a more variable grid. The 2.0 version aims to address growing challenges to the grid head-on, ensuring that necessary upgrades are sized correctly to accommodate increasing loads at vehicle charging locations, data centers, buildings, and industrial sites in a way that leverages the flexibility of these new loads. In the process, DOE is selecting a cohort and collecting data needed to build confidence that the grid is highly flexible and resilient.
    Connected Communities 2.0 centers on two major areas:

    Connected Communities (topic 1), focused on integrated grid-edge technical measures in buildings, industry, and transportation to prepare the electric grid for new loads and improve customer benefits and grid resilience.
    Smart Charge Management (subtopic 1A), focused on various unique urban, suburban, and rural-use cases to build confidence in smart charge management as an effective approach for EVs to provide flexibility and value to the electric grid.

    Three projects have been selected in each area.
    The Connected Communities selectees are:

    The Accelerating Community-wide Connected Electric Loads & Energy Reliability Achieved Through Integration with Nationwide Grid (ACCELERATING) Connectivity initiative (Minnesota), led by the Beneficial Electrification League, will advance a nationally scalable approach for building load management. The project will prioritize partnerships with electric cooperatives in Minnesota that advance communications to optimize residential thermal loads as grid assets. (Award amount: $5.3 million)
    Purdue University (Indiana) will demonstrate pathways for rural electric membership cooperatives to improve energy efficiency and resilience in the face of new load growth in collaboration with the National Rural Electric Cooperative Association. Pathways include engaging with rural communities, piloting financial programs, coordinating DERs through systems, and scaling up lessons learned. (Award amount: $5.9 million)
    The Responsive Energy Communities Harnessing Advanced Grid Efficiency (RECHARGE) initiative (California), led by Pacific Gas & Electric, will target residential units, businesses and industry in the city of San Jose and in the Fresno County. RECHARGE will address the growing electric demand and distribution capacity challenges in these communities. (Award amount: $6 million)

    The Smart Charge Management selectees are:

    One Energy Enterprises (Ohio) will pioneer a community charging depot for medium- and heavy-duty truck fleets, which will integrate advanced microgrid technology and DERs to minimize charging investments, while optimizing the grid. The site will be located in Findlay, Ohio, with plans for expansion to support a larger number of class 6–8 electric trucks. (Award amount: $3.2 million)
    Baltimore Gas & Electric Company (Maryland) will use a multi-faceted distributed energy resource management system to unlock grid-aware managed charging functionality. The project will feature technology that reduces residential EV charging peak loads, decreases infrastructure upgrade costs, and adjusts charging schedules to alleviate grid congestion. (Award amount: $5.9 million)
    EV.Energy (California, Florida, Alaska, Rhode Island, and Hawaii) will demonstrate and validate smart charge management solutions in five diverse utility territories across five different states. Smart charge management approaches will include optimization for renewable energy matching, reduced grid congestion, timer peak smoothing, expanded charging access for multifamily housing, and both vehicle-to-home and vehicle-to-grid technologies.  (Award amount: $6 million)

    The six projects selected today will demonstrate the capabilities of grid-edge technologies and integrated power systems that are efficient, resilient, flexible, and affordable, along with distribution and grid-planning strategies that can be replicated across the United States.
    Integration is essential to Connected Communities, and DOE’s Office of Energy Efficiency and Renewable Energy (EERE) and Office of Electricity are collaborating to support integrated energy system planning with a network of technology offices and industry partners. The Connected Communities 2.0 funding announcement is led by EERE’s Building Technologies Office and Vehicle Technologies Office in collaboration with the Solar Energy Technologies Office, Industrial Efficiency and Decarbonization Office, and Geothermal Technologies Office.

    MIL OSI USA News –

  • MIL-OSI USA: DOE Announces New Tools Making it Easier for Home Contractors to Install Energy Saving Appliances and Lower Costs

    Source: US Department of Energy

    As More Americans Seek Home Energy Upgrades, New DOE Resources Will Enable Easier Access to the Historic Money Saving Incentives Provided by the Biden-Harris Administration’s Investing in America Agenda

    WASHINGTON, D.C.—  In support of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of Energy (DOE) today released new resources to help American households and home energy efficiency contractors understand how to qualify for thousands of dollars in federal tax credits, made available by the Inflation Reduction Act, for home upgrades. The resources include a Tax Credit Product Lookup Tool to help determine if new equipment is eligible for tax credits; information that walks contractors through key elements of home insulation products that can lower utility bills and qualify for tax credits; and a training module on how contractors can leverage a range of home energy efficiency incentives. By making it easier for households and contractors to know if they qualify for these tax credits, this tool will enable more Americans to access them and to lower their utility bills. 

    These resources will help drive access to the Energy Efficient Home Improvement Credit, which more than 2.3 million families have already claimed, saving over $2 billion total—an average tax cut of $880 per household—according to the U.S. Department of the Treasury. The Energy Efficient Home Improvement Credit, which is available through 2032, allows households to receive up to $3,200 in tax credits annually for a variety of energy-efficient home improvements. Improving home energy efficiency and upgrading equipment will save homeowners money on utility bills and improve home resilience, and is key to the Biden-Harris Administration’s national clean energy goals. 

    “Across the board, the Biden-Harris Administration is making it easier for more American households to save energy and save money on home improvement upgrades that will keep money in their pockets for years to come,” said U.S. Secretary of Energy Jennifer M. Granholm. “Contractors are the go-to resource for homeowners looking to upgrade insulation, wiring and appliances, which is why we are providing new tools that get contractors the information to ensure their customers can unlock Investing in America savings.”  

    New Resources  

    • The Tax Credit Product Lookup Tool can help determine if new heating, air-conditioning, or water-heating equipment may be eligible for the Energy Efficient Home Improvement Credit. Contractors—or even homeowners—can enter information about a particular product to determine if it meets tax credit eligibility criteria and receive a single page report that the homeowner can print or save for their records.
    • The home insulation explainer walks contractors and homeowners through the key elements of home insulation and air-sealing products that can lower utility bills and qualify for tax credits.
    • The new contractor training module provides detailed introductory information on how contractors can leverage residential energy efficiency incentives, including those available from federal, state, local, and utility-run programs. The 30-minute video is available for free on the Building Science Education Solution Center. The training is complementary to DOE’s Energy Skilled recognition program, which contractors can use to find training and certification programs that develop the skills and knowledge needed for clean energy jobs. 

    These new resources build on existing DOE tools to help Americans explore energy-saving technologies for their homes, including heat pump water heater and cold climate heat pump tools to guide contractors and homeowners through the decision-making process for selecting equipment. 

    Homeowners can also go to the ENERGY STAR website to find information on the many federal tax credits offered for energy-efficient home heat pump technology, home improvements, and clean energy equipment upgrades. The website also offers detailed instructions for claiming tax credits as well as strategies for maximizing federal tax savings.  

    Many energy-efficient tax credits can be used together with DOE Home Energy Rebate programs and other state, local, and utility energy efficiency incentives, helping consumers save even more on purchase and installation costs. Collectively, the product lookup and decision tools, along with contractor training, will help Americans improve their homes’ energy efficiency while ensuring they get the right equipment for their comfort needs, qualify for incentives, and lower their energy bills. 

    MIL OSI USA News –

  • MIL-OSI USA: DOE and Commerce Department Sign Memorandum of Understanding to Advance Safe, Secure, and Trustworthy Development and Use of AI

    Source: US Department of Energy

    WASHINGTON, D.C. — The U.S. Department of Energy (DOE) and the U.S. Department of Commerce (DOC), as represented by the National Institute of Standards and Technology (NIST), announced a memorandum of understanding (MOU) signed earlier this year to collaborate on safety research, testing, and evaluation of advanced artificial intelligence (AI) models and systems.  

    This partnership is a key example of the Biden-Harris Administration’s whole-of-government approach to ensuring the safe, secure, and trustworthy development and use of AI. This announcement follows the recent release of the first-ever National Security Memorandum on AI, which designated the U.S. AI Safety Institute (US AISI), which is housed within NIST, as a key hub of the U.S. government’s AI safety efforts and identifies a substantial role for DOE in helping the U.S. government understand and mitigate AI safety risks and improve the performance and reliability of AI models and systems. 

    “There’s no question that AI is the next frontier for scientific and clean energy breakthroughs, which underscores the Biden-Harris Administration’s efforts to push forward scientific innovation in a safe and secure manner” said U.S. Secretary of Energy Jennifer M. Granholm. “Across the federal government we are committed to advancing AI safety and today’s partnership ensures that Americans can confidently benefit from AI-powered innovation and prosperity for years to come.” 

    In addition to facilitating joint research efforts and information sharing, this agreement enables the Department of Energy and its National Laboratories to lend both their technical capacity and their subject matter expertise to the US AISI and NIST. 

    “By empowering our teams to work together, this partnership with the Department of Energy will undoubtedly help the U.S. AI Safety Institute and NIST advance the science of AI safety,” said U.S. Secretary of Commerce Gina Raimondo. “Safety is key to continued innovation in AI, and we have no time to waste in working together across government to develop robust research, testing, and evaluations to protect and advance essential national security priorities.” 

    Through this MOU, the DOE and DOC intend to evaluate the impact of AI models on public safety, including risks to critical infrastructure, energy security, and national security. Key focus areas include developing classified evaluations of advanced AI models’ chemical and biological risks, as well as developing and evaluating evaluate privacy enhancing technologies that aim to protect personal and commercial proprietary data. These efforts, combined with DOE’s AI testbeds, will help lay the foundation for a safe and innovative future for AI. 

    Read the full MOU here. 

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Department of Energy Invests $45 Million to Support Regional Consortia Focused on Securing Domestic Critical Minerals and Materials

    Source: US Department of Energy

    WASHINGTON, D.C. — The U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) today announced $45 million in federal funding for six projects to create regional consortia to accelerate the development of critical mineral and materials supply chains including novel nonfuel carbon-based products from secondary and unconventional feedstocks. Realizing the value of secondary and unconventional feedstocks, such as coal and coal by-products, effluent waters from oil and gas development, and acid mine drainage will enable the United States to rebuild domestic supply chains for critical minerals and materials. By focusing on abundant American secondary and unconventional sources, these investments will support dependable and enduring supplies for American manufacturing and production of technologies essential to clean energy and our nation’s defense. 

    “Rebuilding a domestic supply chain for critical minerals and materials here at home will both safeguard our national security and support the continued development of a clean energy and industrial economy,” said Brad Crabtree, Assistant Secretary of Fossil Energy and Carbon Management. “DOE is investing in collaborative regional projects to help us realize our nation’s full potential for recovery of these vital resources, while creating high-wage jobs and delivering environmental benefits for communities across the United States.”

    Selected projects will build upon the work of DOE’s Carbon Ore, Rare Earth and Critical Minerals (CORE-CM) Initiative, expanding the focus from the basin scale to cover eight regions across the Nation. Teams consist of partners such as private industry; universities; local, state, and federal government; local communities; and Tribes and Tribal organizations who will develop and implement strategies that enable each U.S. region to realize its economic critical minerals and materials potential, including valuable non-fuel carbon-based products.

    • University of Alaska Fairbanks (Fairbanks, Alaska) will work with three state geological surveys from Alaska, Oregon, and Washington to better understand the geologic framework and distribution of underexplored mineral resource deposits in the Northwest.
    • University of Illinois Urbana-Champaign (Champaign, Illinois), through the Illinois State Geological Survey, will work with the geological surveys of Michigan, Kentucky, Iowa, Indiana and Ohio to build the economic case for developing critical minerals and materials from coal and coal wastes in the Upper Midwest.
    • University of Texas at Austin (Austin, Texas) will identify resource potential in the Gulf Coast and Permian Basin areas, including from petroleum industry waste; produced water; coal, coal ash, and other coal mine related waste; and other nonfuel mine and processing wastes.
    • University of Utah (Salt Lake City, Utah) will evaluate critical minerals and materials and carbon associated with coal-related materials, sedimentary-hosted minerals, waste-related materials, and other potential value-added materials in the Rocky Mountain region.
    • University of Wyoming (Laramie, Wyoming) will assess the Great Plains and Interior Highlands, which consists of ten states and four basins, to develop domestic supply chains that use secondary and unconventional critical mineral resources.
    • Virginia Polytechnic Institute and State University (Blacksburg, Virginia) will lead a consortium of academic institutions, research laboratories, federal and state natural resource offices, and consultancies to evaluate critical minerals for potential future extraction in the Appalachian Mountain region.

    DOE’s National Energy Technology Laboratory (NETL), under the purview of FECM, will manage the selected projects. A detailed list of the selected projects can be found here. Additional selections may be made at a later date. 

    FECM reduces emissions from fossil energy production and use and key industrial processes, while strengthening U.S. energy and critical minerals security. To learn more, visit the FECM website, sign up for FECM news announcements, and visit the NETL website.

    MIL OSI USA News –

  • MIL-OSI USA: DOE Invests Nearly $14 Million to Advance Technologies that Transform Carbon Emissions into Valuable Products

    Source: US Department of Energy

    WASHINGTON, D.C. — The U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) today announced $13.7 million in federal funding for four projects that will advance large-scale conversion of carbon dioxide (CO2) emissions into environmentally responsible and economically valuable products. With funding provided by the Bipartisan Infrastructure Law, projects will help develop conversion technologies that feasibly produce crucial fuels, building materials, and other carbon-based products from captured carbon emissions. 

    “Chemicals production and petroleum refining industries are vital for the U.S. economy and our nation’s energy security, but are also responsible for significant carbon emissions,” said Brad Crabtree, Assistant Secretary of Fossil Energy and Carbon Management. “DOE’s investments in carbon conversion technology will support new economic opportunities and job creation, while providing lower-emissions carbon product alternatives for these industries at the same time.” 

    The selected projects will support two areas of focus: (1) engineering-scale testing of electrochemical systems for converting carbon dioxide emissions into value-added products, such as engineering polymer/resin precursors, specialty chemicals, and commodity chemicals; and (2) feasibility studies that examine retrofitting refineries and petrochemical facilities for carbon conversion:

    • Dioxide Materials Inc. (Boca Raton, Florida) plans to scale technology for the production of low-greenhouse gas ethanol and mevalonic acid via a combination of electrolysis and bioprocessing. 
       
    • Terraforma Carbon LLC (State College, Pennsylvania) aims to evaluate the technical and economic feasibility of carbon capture and conversion to methanol by modeling a retrofit of Shell’s Norco refinery in St. Charles Parish, Louisiana using molten salt-based capture technology.
       
    • Thiozen Inc. (Pasadena, California) plans to explore the use of a hydrogen sulfide reforming technology to produce low-cost and low-emissions methanol.
       
    • Twelve Benefit Corp. (Berkeley, California) seeks to accelerate the production of low-carbon chemicals and syngas through rapid research, development, and deployment of its CO2 electrolyzers.

    DOE’s National Energy Technology Laboratory (NETL), under the purview of FECM, will manage the selected projects. A detailed list of the selected projects can be found here.

    These projects support the goals of DOE’s Clean Fuels and Products Energy Earthshot, which aims to meet projected 2050 net-zero emissions demands for 100% of aviation fuel; 50% of maritime, rail and off-road fuel; and 50% of carbon-based chemicals by using sustainable carbon resources.

    FECM reduces emissions from fossil energy production and use and key industrial processes, while strengthening U.S. energy and critical minerals security. To learn more, visit the FECM website, sign up for FECM news announcements, and visit the National Energy Technology Laboratory website.

    MIL OSI USA News –

  • MIL-OSI USA: Investing in Developmental Disability Service Providers

    Source: US State of New York

    Governor Kathy Hochul today announced nearly $850 million dollars in updated reimbursement rates for non-profit residential and day service providers licensed by the New York State Office for People With Developmental Disabilities. The FY 2025 Enacted Budget, combined with additional federal funding, provided for more than $400 million in new resources to be allocated each year for OPWDD’s service providers. Governor Hochul’s FY 2026 Executive Budget continues this investment and will help to fill critical gaps in this workforce while creating new job opportunities. This investment will enable providers to raise wages for their dedicated staff, ultimately making New York a more affordable place to live and work. Our provider industry has faced challenges, and this bold initiative by Governor Hochul demonstrates a commitment to supporting this sector, its hardworking people and the communities they serve.

    “New York’s service providers are providing a critical service to people with developmental disabilities and their families, and they deserve to be paid a fair rate for the services they deliver,” Governor Hochul said. “This rate adjustment is expected to enable a majority of service providers to increase pay to their frontline staff, which would make living in New York more affordable for one of our hardest working, most dedicated and compassionate workforces.”

    Rate rebasing is a federally required process where provider reimbursement rates are updated to reflect changes in the actual cost of delivering services. These resources will enable provider agencies to offer higher wages for direct care staff, helping to address staffing vacancies and reduce turnover, which are critical to improving the quality of care for people with disabilities. Additionally, the funding will support other essential costs associated with delivering these vital services.

    Since 2022, the State has made more than $2.8 billion available to OPWDD providers to support investments in the workforce – about $1.4 billion in one-time federally-approved bonuses, nearly $1.1 billion through three consecutive Cost of Living Adjustments (COLAs), including the 2.84 percent COLA included in last year’s budget, and over $340 million through various State-funded bonus initiatives. Cumulatively, more than $3.7 billion will have been made available to OPWDD’s network of non-profit providers, when including the new resources from this unprecedented investment in rates.

    Office of the Chief Disability Officer Kim Hill Ridley said, “This investment is a key part of strengthening the disabilities service system and prioritizing wage increases for our direct support workforce who assist New Yorkers with disabilities in their daily lives. Thank you to Governor Hochul for this resource that helps providers to remain competitive while providing the very best support and services.”

    Office for People With Developmental Disabilities (OPWDD) Acting Commissioner Willow Baer said, “OPWDD is pleased to be able to release these significant rate adjustments that will help our service providers continue to maintain critical support and recruit and retain talented and qualified frontline staff. I am proud of this important investment and am excited to see this funding passed along to address long-standing concerns and strengthen this vital workforce.”

    State Senator Patricia Fahy said, “Investing in our caregivers and direct support workforce that provide critical services and care for New Yorkers living with disabilities is how we address vacancies, retention, and ensure continuation of that care. This funding will allow providers to offer more competitive wages and address staffing challenges, ultimately leading to improved care for New Yorkers living with disabilities and their families. I thank Governor Hochul and Commissioner Baer for recognizing the importance of investing in our frontline workforce, and I look forward to working with my colleagues to further invest in our direct support professional workforce.”

    Assemblymember Angelo Santabarbara said, “Direct Support Professionals are the backbone of our care system, providing critical support that allows individuals with developmental disabilities to live with dignity and independence. This investment is a significant step in strengthening disability services, ensuring providers can offer more competitive wages to recruit and retain the dedicated professionals who make a real difference in people’s lives. It helps address workforce shortages and reinforces our commitment to a strong and sustainable care system. I appreciate Governor Hochul’s recognition of this need and commitment to supporting New York’s disability service providers. As the father of a son with a disability, this is an issue I am deeply passionate about, and I remain focused on advancing policies that strengthen these services, ensuring individuals with disabilities and their families have access to the care and support they deserve.”

    NY Alliance for Inclusion and Innovation President and CEO Michael Seereiter said, “The NY Alliance and its 135 not-for-profit provider members are extremely grateful to Governor Kathy Hochul and OPWDD Acting Commissioner Willow Baer for this unprecedented investment that will significantly enhance our ability to support the 130,000+ New Yorkers living with intellectual and developmental disabilities (I/DD) and their families who are supported by OPWDD. These resources will give our residential and day services providers the ability to attract and engage direct support, frontline supervisor, and other critical staff positions necessary for providing high quality supports, and address other essential costs associated with these services.”

    ARC NY CEO Erik Geizer said, “New York state has made a meaningful and much-needed investment in people with intellectual and developmental disabilities. Years of insufficient investment has driven a crisis in our system that has diminished the quality and availability of essential supports and services. We applaud Governor Hochul and OPWDD for collaborating with providers to better align investment with the current cost of delivering services. These additional resources will help providers better meet the needs of the people we support. We look forward to continuing to work with the state to ensure we honor our commitment to provide high quality, compassionate care for our citizens with special needs.”

    CP State CEO and President Mike Alvaro said, “We applaud New York State and the Office for People With Developmental Disabilities (OPWDD) for updating provider rates, marking an important investment in services for people with disabilities. We also appreciate Governor Kathy Hochul and Acting Commissioner Willow Baer for their commitment and efforts to bolster the developmental disability system. This support helps providers strengthen their workforce, meet rising costs, and—most importantly—ensure a high-quality network of care is available statewide for individuals with intellectual and developmental disabilities.”

    Winifred Schiff Inter Agency Council CEO said, “We applaud Governor Hochul and Acting Commissioner Willow Baer for their support of the developmental disabilities service sector, their recognition that the cost of providing services has steadily grown while rates lagged far behind, and their appreciation that our front-line staff provide essential, life supporting and affirming services that make life possible for so many New Yorkers. While our work is not done, the recent rate adjustment will go a long way towards compensating for years of stagnant rates and some of the losses experienced by providers during the COVID pandemic, and we trust that Governor Hochul will continue to stand with us so that together, we can achieve adequate wages for our front line work force, and our sector will continue to support New Yorkers with developmental disabilities and their families, far into the future.”

    DDAWNY President Mindy Cervoni said, “The Developmental Disabilities Alliance of Western New York (DDAWNY) is deeply grateful to Governor Hochul for her unwavering commitment to New York’s non-profit service providers supporting individuals with developmental disabilities. This transformative funding empowers providers to continue to deliver high-quality services while offering more competitive wages to direct support professionals – the compassionate and skilled individuals who deliver hands-on care and vital support to people with developmental disabilities. By recognizing the invaluable work of these professionals and ensuring they are compensated fairly, this investment strengthens workforce stability and significantly enhances the quality of life for the individuals and families who depend on their care.”

    MIL OSI USA News –

  • MIL-OSI: Pathfinder Bancorp, Inc. Announces Financial Results for Fourth Quarter and Full Year 2024

    Source: GlobeNewswire (MIL-OSI)

    Fourth quarter results include EPS of $0.69, deposit growth, commercial loan growth, a gain on the sale of its insurance agency, and strong contributions from new and established
    Pathfinder Bank teams across Central New York

    OSWEGO, N.Y., Jan. 31, 2025 (GLOBE NEWSWIRE) — Pathfinder Bancorp, Inc. (“Pathfinder” or the “Company”) (NASDAQ: PBHC) announced its financial results for the fourth quarter and year ended December 31, 2024.

    The holding company for Pathfinder Bank (“the Bank”) earned net income attributable to common shareholders of $4.3 million or $0.69 per share in the fourth quarter of 2024, including a benefit of approximately $1.4 million from a gain on the previously announced sale of its insurance agency, net of taxes and transaction-related expenses.

    The Company reported a net loss of $4.6 million or $0.75 per share in the third quarter of 2024, reflecting $9.0 million in provision expense that primarily resulted from a comprehensive loan portfolio review the Bank elected to undertake as part of its ongoing commitment to continuously improve its credit risk management approach, and net income of $2.5 million or $0.41 per share in the fourth quarter of 2023. For the full year, the Company earned net income of $3.8 million or $0.60 per share in 2024 and $9.3 million or $1.51 per share in 2023.

    Fourth Quarter and Full Year 2024 Highlights and Key Developments

    • Provision expense was $988,000 in the fourth quarter of 2024, compared to $9.0 million in the linked quarter and $265,000 in the fourth quarter of 2023, while the allowance for credit losses (“ACL) increased to 1.88% of loans from 1.87% on September 30, 2024 and 1.78% on December 31, 2023.
    • Net interest income was $10.8 million, compared to the $11.7 million in the linked quarter that benefited from a $887,000 catch-up interest payment, and $9.2 million in the fourth quarter of 2023. Full-year net interest income was $41.4 million in 2024 and $38.9 million in 2023.
    • Net interest margin (“NIM”) was 3.15% in the fourth quarter of 2024, compared to the 3.34% in the third quarter that benefited by 25 basis points from the catch-up interest payment, and 2.74% in the year-ago period.
    • Non-interest income was $4.9 million, including a gross, pre-tax gain of $3.2 million on the October 2024 sale of the Company’s insurance agency, compared to $1.7 million in the linked quarter and $1.3 million in the year-ago period. Full-year non-interest income was $9.6 million in 2024 and $5.2 million in 2023.
    • Non-interest expense was $8.5 million with $155,000 in October 2024 insurance agency transaction-related costs, $10.3 million in the linked quarter with $1.6 million in July 2024 branch acquisition-related costs, and $7.0 million in the year-ago period. Full-year non-interest expense was $34.4 million in 2024 and $29.4 million in 2023.
    • Pre-tax, pre-provision (“PTPP”) net income grew to $3.8 million, compared to $3.4 million in the linked and year-ago periods. PTPP net income, which is not a financial metric under generally accepted accounting principles (“GAAP”), is a measure that the Company believes is helpful to understanding profitability without giving effect to income taxes and provision for credit losses. Full-year PTPP net income was $13.5 million in 2024 and $14.7 million in 2023.
    • Total deposits were $1.20 billion at period end, growing by $8.1 million or 2.7% annualized from September 30, 2024 and $84.3 million or 7.5% from December 31, 2023. The Bank’s loan-to-deposit ratio was 76.3% on December 31, 2024.
    • Total loans were $919.0 million at period end, compared to $921.7 million on September 30, 2024 and $897.2 million on December 31, 2023. Commercial loans were $539.7 million at period end, $534.5 million on September 30, 2024 and $524.2 million on December 31, 2023.

    “Pathfinder’s core net interest income growth and net interest margin expansion were key contributors to fourth quarter earnings, and are a product of disciplined asset and liability pricing, the Bank’s valuable core deposit franchise, and our relationship-based commercial and retail lending in Central New York,” said President and Chief Executive Officer James A. Dowd. “In addition, we continue to invest in talent to serve middle market businesses throughout the Syracuse area, building on our foundation in this community. The East Syracuse branch acquired last summer, and our operations throughout the area, made important contributions to Pathfinder’s performance in the fourth quarter, and we look forward to further enhancing the breadth and depth of our commercial and other customer relationships in this important growth market.”

    Dowd added, “We also intend to maintain a sharp focus on managing operating expenses, along with our ongoing efforts to continuously enhance the Company’s proactive credit risk management approach. While there may be short-term variability in measures of operating efficiency and asset quality, our leadership team is fully committed to taking the steps necessary to make sustainable improvements over the long term and continue building franchise value for the benefit of our shareholders.”

    Net Interest Income and Net Interest Margin
    Fourth quarter 2024 net interest income was $10.8 million, a decrease of 7.8% from the third quarter of 2024, or a decrease of 0.2% when excluding an $887,000 third quarter catch-up interest payment associated with purchased loan pool positions. A decrease in interest and dividend income of $1.7 million was primarily attributed to average yield decreases of 44 basis points on loans including 39 basis points from the catch-up interest payment, 108 basis points on tax-exempt investment securities, and 28 basis points on taxable investment securities. The corresponding decreases in income from loan interest, tax-exempt investment securities, and taxable investment securities were $902,000, $24,000, and $337,000, respectively. A decrease in interest expense of $761,000 was attributed to intentional reductions in the cost of time deposits and other interest-bearing deposits, as well as reductions in borrowings expense.

    Net interest margin was 3.15% in the fourth quarter of 2024, compared to 3.34% in the linked quarter. The decrease was due to the 25 basis points of linked quarter NIM attributed to the third quarter 2024 catch-up interest payment.

    Fourth quarter 2024 net interest income was $10.8 million, an increase of 18.1% from the fourth quarter of 2023. An increase in interest and dividend income of $1.2 million was primarily attributed to average yield increases of 33 basis points on loans, 4 basis points on taxable investment securities, and 404 basis points on fed funds sold and interest-earning deposits. The corresponding increase in loan interest income, taxable investment securities, and federal funds sold and interest-earning deposits was $1.1 million, $152,000, and $13,000, respectively. A decrease in interest expense of $463,000 was attributed to changes in the Bank’s deposit mix, repricing of deposits in a lower rate environment, and reductions in borrowings expense.

    Net interest margin was 3.15% in the fourth quarter of 2024 compared to 2.74% in the same period the year prior. The increase of 41 basis points was driven by reductions in borrowing and funding costs.

    Noninterest Income
    Noninterest income totaled $4.9 million in the fourth quarter of 2024, including the $3.2 million pre-tax gain on the insurance agency sale, which represents the gross amount that is required to be 100% consolidated within the Company’s financial statements, despite Pathfinder’s 51% interest in the business sold in October 2024. Noninterest income growth from the third quarter of 2024 was $3.2 million, or $30,000 when excluding the agency sale gain. Noninterest income growth from the fourth quarter of 2023 was $3.6 million, or $419,000 when excluding the agency sale gain.

    The insurance agency sold in October contributed $49,000 in revenue to noninterest income in the fourth quarter of 2024, $367,000 in the third quarter of 2024 and $303,000 in the fourth quarter of 2023.

    Compared to the linked quarter, fourth quarter 2024 noninterest income also included increases of $16,000 in loan servicing fees and $12,000 in service charges on deposit accounts, a decrease of $194,000 in earnings and gain on bank owned life insurance (“BOLI”) after recording a $175,000 third quarter net death benefit on BOLI, and a $36,000 decrease in debit card interchange fees. Noninterest income growth from the linked quarter also reflected an increase of $438,000 in net realized gains on sales and redemptions of investment securities and $104,000 in net realized gains on sales of marketable equity securities, as well as a decrease of $51,000 in gains on sales of loans and foreclosed real estate.

    Compared to the year-ago period, fourth quarter 2024 noninterest income also included increases of $103,000 in interchange fees, $68,000 in service charges on deposit accounts, $26,000 in loan servicing fees, and $3,000 in earnings and gain on BOLI. Noninterest income growth from the year-ago quarter also reflected increases of $248,000 increase in net realized losses on sales and redemptions of investment securities, $213,000 in net realized gains on sales of marketable equity securities, and $41,000 in gains on sales of loans and foreclosed real estate.

    Noninterest Expense
    Noninterest expense totaled $8.5 million in the fourth quarter of 2024, decreasing $1.7 million from the linked quarter and increasing $1.5 million from the year-ago period.

    Fourth quarter 2024 noninterest expense included $456,000 associated with the Company’s insurance agency sale in October 2024, including $155,000 in transaction-related items. The insurance agency incurred $308,000 of noninterest expense in the third quarter of 2024 and $216,000 in the fourth quarter of 2023.

    Third quarter 2024 noninterest expense included $1.6 million in transaction-related expenses for Pathfinder’s acquisition of the East Syracuse branch acquisition in July 2024.

    Salaries and benefits were $4.1 million in the fourth quarter of 2024, decreasing $839,000 from the linked quarter and increasing $446,000 from the year-ago period. The decrease from the linked quarter reflected elevated non-exempt-employee hours for projects related to the successful third quarter closing and integration of the East Syracuse branch acquisition, as well as some personnel vacancies that were open in the fourth quarter. The increase from the fourth quarter of 2023 was primarily attributed to increased headcount and lower salary deferrals than in the prior year period.

    Building and occupancy was $1.3 million in the fourth quarter of 2024, increasing $117,000 and $390,000 from the linked and year-ago quarters, respectively. These increases were due to ongoing facilities-related costs of approximately $322,000 associated with operating the branch acquired in July 2024.

    Professional and other services expense was $608,000 in the fourth quarter of 2024, decreasing $1.2 million from the linked quarter and increasing $120,000 from the year-ago period. The decrease from the third quarter of 2024 was primarily attributed to one-time costs associated with the East Syracuse branch acquisition. The increase from the fourth quarter of 2023 was primarily attributed to a $136,000 increase in technology project implementation services and other outsourced consulting services.

    Annualized noninterest expense, including transaction-related costs, represented 2.33% of average assets in the fourth quarter of 2024, compared to 2.75% and 2.01% in the linked and year-ago periods. The efficiency ratio, including transaction-related costs, was 69.42% in the fourth quarter of 2024, compared to 75.28% and 67.25% in the linked and year-ago periods. The efficiency ratio, which is not a financial metric under GAAP, is a measure that the Company believes is helpful to understanding its level of non-interest expense as a percentage of total revenue.

    Statement of Financial Condition
    As of December 31, 2024, the Company’s statement of financial condition reflects total assets of $1.47 billion, compared to $1.48 billion and $1.47 billion recorded on September 30, 2024 and December 31, 2023, respectively.

    Loans totaled $919.0 million on December 31, 2024, decreasing 0.3% during the fourth quarter and increasing 2.4% from one year prior. Consumer and residential loans totaled $380.9 million, decreasing 2.0% during the fourth quarter and increasing 1.9% from one year prior. Commercial loans totaled $539.7 million, increasing 1.0% during the fourth quarter and 3.0% from one year prior.

    With respect to liabilities, deposits totaled $1.20 billion on December 31, 2024, increasing 0.7% during the fourth quarter and 7.5% from one year prior. The Company also utilized its lower cost liquidity to reduce total borrowings, which were $88.1 million on December 31, 2024 as compared to $100.1 million on September 30, 2024 and $175.6 million on December 31, 2023.

    Shareholders’ equity totaled $121.9 million on December 31, 2024, increasing $1.6 million or 1.3% in the fourth quarter and increasing $2.4 million or 2.0% from one year prior. The fourth quarter 2024 increase primarily reflects a $4.5 million increase in retained earnings, partially offset by a $2.4 million increase in accumulated other comprehensive loss (“AOCL”) and a $481,000 decrease in additional paid in capital. The full-year 2024 increase in shareholders’ equity primarily reflects a $2.1 increase in retained earnings and a $461,000 decrease in AOCL, partially offset by a $364,000 decrease in additional paid in capital.  The noncontrolling interest included in equity on the Statements of Financial Condition was eliminated with the October 2024 sale of the 51% ownership interest in the Company’s insurance agency.

    Asset Quality
    Pathfinder’s asset quality metrics reflect ongoing efforts the Bank is undertaking as part of its commitment to continuously improve its credit risk management approach.

    Nonperforming loans were $22.1 million or 2.40% of total loans on December 31, 2024, $16.2 million or 1.75% of total loans on September 30, 2024 and $17.2 million or 1.92% of total loans on December 31, 2023.

    Net charge offs (“NCOs”) after recoveries were $1.0 million or an annualized 0.44% of average loans in the fourth quarter of 2024, with gross charge offs for consumer loans, purchased loan pools, and one commercial loan offsetting recoveries in each of these categories. NCOs were $8.7 million or an annualized 3.82% of average loans in the linked quarter, following the loan portfolio review completed in September, and $108,000 or 0.05% in the prior year period.

    Provision for credit loss expense was $988,000 in the fourth quarter of 2024, reflecting NCOs in the period and qualitative factors in the Company’s reserve model. Third quarter of 2024 provision was $9.0 million, primarily to replenish commercial loan reserves and adjust the lifetime loss estimate for solar purchased loan pool positions following the loan portfolio review completed in September. Fourth quarter 2023 provision was $265,000.

    The Company believes it is sufficiently collateralized and reserved, with an Allowance for Credit Losses (“ACL”) of $17.2 million on December 31, 2024, compared to $17.3 million on September 30, 2024 and $16.0 million on December 31, 2023. As a percentage of total loans, ACL represented 1.88% on December 31, 2024, 1.87% on September 30, 2024, and 1.78% on December 31, 2023.

    Liquidity
    The Company has diligently ensured a strong liquidity profile as of December 31, 2024 to meet its ongoing financial obligations. The Bank’s liquidity management, as evaluated by its cash reserves and operational cash flows from loan repayments and investment securities, remains robust and is effectively managed by the institution’s leadership.

    The Bank’s analysis indicates that expected cash inflows from loans and investment securities are more than sufficient to meet all projected financial obligations. Total deposits were $1.20 billion on December 31, 2024, $1.20 billion on September 30, 2024, and $1.12 billion on December 31, 2023. Core deposits represented 76.87% of total deposits on December 31, 2024, 77.45% on September 30, 2024, and 69.83% on December 31, 2023. The Bank’s continues to implement strategic initiatives to enhance its core deposit franchise, including targeted marketing campaigns and customer engagement programs aimed at deepening banking relationships and enhancing deposit stability.

    At the end of the current quarter, Pathfinder Bancorp had an available additional funding capacity of $113.8 million with the Federal Home Loan Bank of New York, which complements its liquidity reserves. Moreover, the Bank maintains additional unused credit lines totaling $43.3 million, which provide a buffer for additional funding needs. These facilities, including access to the Federal Reserve’s Discount Window, are part of a comprehensive liquidity strategy that ensures flexibility and readiness to respond to any funding requirements.

    Cash Dividend Declared
    On December 23, 2024, Pathfinder’s Board of Directors declared a cash dividend of $0.10 per share for holders of both voting common and non-voting common stock.

    In addition, this dividend also extends to the notional shares of the Company’s warrants. Shareholders registered by January 17, 2025 will be eligible for the dividend, which is scheduled for disbursement on February 7, 2025. This distribution aligns with Pathfinder Bancorp’s philosophy of consistent and reliable delivery of shareholder value.

    Evaluating the Company’s market performance, the closing stock price as of December 31, 2024 stood at $17.50 per share. This positions the dividend yield at an attractive 2.29%.

    About Pathfinder Bancorp, Inc.

    Pathfinder Bancorp, Inc. (NASDAQ: PBHC) is the commercial bank holding company for Pathfinder Bank, which serves Central New York customers throughout Oswego, Syracuse, and their neighboring communities. Strategically located branches averaging over $100 million in deposits per location, as well as diversified consumer, mortgage and commercial loan portfolios, reflect the state-chartered Bank’s commitment to in-market relationships and local customer service. The Company also offers investment services to individuals and businesses. At December 31, 2024, the Oswego-headquartered Company had assets of $1.47 billion, loans of $919.0 million, and deposits of $1.20 billion. More information is available at pathfinderbank.com and ir.pathfinderbank.com.

    Forward-Looking Statements
    Certain statements contained herein are “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are based on current beliefs and expectations of the Company’s and the Bank’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s and the Bank’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to: risks related to the real estate and economic environment, particularly in the market areas in which the Company and the Bank operate; fiscal and monetary policies of the U.S. Government; inflation; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; fluctuations in the adequacy of the allowance for credit losses; decreases in deposit levels necessitating increased borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; the risk that the Company may not be successful in the implementation of its business strategy; changes in prevailing interest rates; credit risk management; asset-liability management; and other risks described in the Company’s filings with the Securities and Exchange Commission, which are available at the SEC’s website, www.sec.gov.

    This release contains non-GAAP financial measures. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of a registrant’s historical or future financial performance, financial position, or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet, or statement of cash flows (or equivalent statements) of the registrant; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. In this regard, GAAP refers to generally accepted accounting principles in the United States. Pursuant to the requirements of Regulation G, the Company has provided reconciliations within the release of the non-GAAP financial measures to the most directly comparable GAAP financial.

    Investor/Media Contacts
    James A. Dowd, President, CEO
    Justin K. Bigham, Senior Vice President, CFO
    Telephone: (315) 343-0057

    PATHFINDER BANCORP, INC.                              
    Selected Financial Information (Unaudited)                              
    (Amounts in thousands, except per share amounts)                              
                                   
        2024     2023  
    SELECTED BALANCE SHEET DATA:   December 31,     September 30,     June 30,     March 31,     December 31,  
    ASSETS:                              
    Cash and due from banks   $ 13,963     $ 18,923     $ 12,022     $ 13,565     $ 12,338  
    Interest-earning deposits     17,609       16,401       19,797       15,658       36,394  
    Total cash and cash equivalents     31,572       35,324       31,819       29,223       48,732  
    Available-for-sale securities, at fair value     269,331       271,977       274,977       279,012       258,716  
    Held-to-maturity securities, at amortized cost     158,683       161,385       166,271       172,648       179,286  
    Marketable equity securities, at fair value     4,076       3,872       3,793       3,342       3,206  
    Federal Home Loan Bank stock, at cost     4,590       5,401       8,702       7,031       8,748  
    Loans     918,986       921,660       888,263       891,531       897,207  
    Less: Allowance for credit losses     17,243       17,274       16,892       16,655       15,975  
    Loans receivable, net     901,743       904,386       871,371       874,876       881,232  
    Premises and equipment, net     19,009       18,989       18,878       18,332       18,441  
    Assets held-for-sale     –       –       3,042       3,042       3,042  
    Operating lease right-of-use assets     1,391       1,425       1,459       1,493       1,526  
    Finance lease right-of-use assets     16,676       16,873       4,004       4,038       4,073  
    Accrued interest receivable     6,881       6,806       7,076       7,170       7,286  
    Foreclosed real estate     –       –       60       82       151  
    Intangible assets, net     5,989       6,217       76       80       85  
    Goodwill     5,056       5,752       4,536       4,536       4,536  
    Bank owned life insurance     24,727       24,560       24,967       24,799       24,641  
    Other assets     25,150       20,159       25,180       23,968       22,097  
    Total assets   $ 1,474,874     $ 1,483,126     $ 1,446,211     $ 1,453,672     $ 1,465,798  
                                   
    LIABILITIES AND SHAREHOLDERS’ EQUITY:                              
    Deposits:                              
    Interest-bearing deposits   $ 990,674     $ 986,103     $ 932,132     $ 969,692     $ 949,898  
    Noninterest-bearing deposits     213,719       210,110       169,145       176,421       170,169  
    Total deposits     1,204,393       1,196,213       1,101,277       1,146,113       1,120,067  
    Short-term borrowings     61,000       60,315       127,577       91,577       125,680  
    Long-term borrowings     27,068       39,769       45,869       45,869       49,919  
    Subordinated debt     30,107       30,057       30,008       29,961       29,914  
    Accrued interest payable     234       236       2,092       1,963       2,245  
    Operating lease liabilities     1,591       1,621       1,652       1,682       1,711  
    Finance lease liabilities     16,745       16,829       4,359       4,370       4,381  
    Other liabilities     11,876       16,986       9,203       9,505       11,625  
    Total liabilities     1,353,014       1,362,026       1,322,037       1,331,040       1,345,542  
    Shareholders’ equity:                              
    Voting common stock shares issued and outstanding     4,742,841       4,719,788       4,719,788       4,719,788       4,719,288  
    Voting common stock     47       47       47       47       47  
    Non-Voting common stock     14       14       14       14       14  
    Additional paid in capital     52,750       53,231       53,182       53,151       53,114  
    Retained earnings     78,193       73,670       78,936       77,558       76,060  
    Accumulated other comprehensive loss     (9,144 )     (6,716 )     (8,786 )     (8,862 )     (9,605 )
    Unearned ESOP shares     –       –       (45 )     (90 )     (135 )
    Total Pathfinder Bancorp, Inc. shareholders’ equity     121,860       120,246       123,348       121,818       119,495  
    Noncontrolling interest     –       854       826       814       761  
    Total equity     121,860       121,100       124,174       122,632       120,256  
    Total liabilities and shareholders’ equity   $ 1,474,874     $ 1,483,126     $ 1,446,211     $ 1,453,672     $ 1,465,798  
                                             

    The above information is preliminary and based on the Company’s data available at the time of presentation.

        Years Ended December 31,     2024     2023  
    SELECTED INCOME STATEMENT DATA:   2024     2023     Q4     Q3     Q2     Q1     Q4  
    Interest and dividend income:                                          
    Loans, including fees   $ 52,705     $ 47,348     $ 13,523     $ 14,425     $ 12,489     $ 12,268     $ 12,429  
    Debt securities:                                          
    Taxable     22,319       17,500       5,312       5,664       5,736       5,607       5,092  
    Tax-exempt     1,920       1,947       445       469       498       508       506  
    Dividends     620       573       164       149       178       129       232  
    Federal funds sold and interest-earning deposits     793       295       82       492       121       98       69  
    Total interest and dividend income     78,357       67,663       19,526       21,199       19,022       18,610       18,328  
    Interest expense:                                          
    Interest on deposits     30,050       23,265       7,380       7,633       7,626       7,411       7,380  
    Interest on short-term borrowings     4,176       2,688       700       1,136       1,226       1,114       1,064  
    Interest on long-term borrowings     733       850       136       202       201       194       231  
    Interest on subordinated debt     1,966       1,941       490       496       489       491       494  
    Total interest expense     36,925       28,744       8,706       9,467       9,542       9,210       9,169  
    Net interest income     41,432       38,919       10,820       11,732       9,480       9,400       9,159  
    Provision for (benefit from) credit losses:                                          
    Loans     11,106       2,991       988       9,104       304       710       316  
    Held-to-maturity securities     (94 )     (98 )     (4 )     (31 )     (74 )     15       (74 )
    Unfunded commitments     (39 )     37       4       (104 )     60       1       23  
    Total provision for credit losses     10,973       2,930       988       8,969       290       726       265  
    Net interest income after provision for credit losses     30,459       35,989       9,832       2,763       9,190       8,674       8,894  
    Noninterest income:                                          
    Service charges on deposit accounts     1,436       1,249       405       392       330       309       336  
    Earnings and gain on bank owned life insurance     854       630       169       361       167       157       164  
    Loan servicing fees     375       307       96       79       112       88       69  
    Net realized (losses) gains on sales and redemptions of investment securities     (71 )     62       249       (188 )     16       (148 )     2  
    Gain on asset sale 1 & 2     3,169       –       3,169       –       –       –       –  
    Net realized gains (losses) on sales of marketable equity securities     197       (255 )     166       62       (139 )     108       (47 )
    Gains on sales of loans and foreclosed real estate     187       181       39       90       40       18       (2 )
    Loss on sale of premises and equipment     (13 )     –       –       (36 )     –       –       –  
    Debit card interchange fees     875       616       265       300       191       119       161  
    Insurance agency revenue 1     1,073       1,304       49       367       260       397       303  
    Other charges, commissions & fees     1,479       1,096       299       280       234       689       332  
    Total noninterest income     9,561       5,190       4,906       1,707       1,211       1,737       1,318  
    Noninterest expense:                                          
    Salaries and employee benefits     17,810       15,920       4,123       4,959       4,399       4,329       3,677  
    Building and occupancy     4,118       3,563       1,254       1,134       914       816       864  
    Data processing     2,471       2,018       721       672       550       528       499  
    Professional and other services     3,686       2,019       608       1,820       696       562       488  
    Advertising     604       671       218       165       116       105       155  
    FDIC assessments     916       885       231       228       228       229       222  
    Audits and exams     539       735       123       123       123       170       259  
    Insurance agency expense 1     1,281       1,033       456       308       232       285       216  
    Community service activities     130       200       19       20       39       52       49  
    Foreclosed real estate expenses     102       111       20       27       30       25       35  
    Other expenses     2,760       2,240       771       803       581       605       580  
    Total noninterest expense     34,417       29,395       8,544       10,259       7,908       7,706       7,044  
    Income (loss) before provision for income taxes     5,603       11,784       6,194       (5,789 )     2,493       2,705       3,168  
    Provision (benefit) for income taxes     398       2,362       558       (1,173 )     481       532       590  
    Net income (loss) attributable to noncontrolling interest and Pathfinder Bancorp, Inc.     5,205       9,422       5,636       (4,616 )     2,012       2,173       2,578  
    Net income attributable to noncontrolling interest 1     1,445       129       1,352       28       12       53       42  
    Net income (loss) attributable to Pathfinder Bancorp Inc.   $ 3,760     $ 9,293     $ 4,284     $ (4,644 )   $ 2,000     $ 2,120     $ 2,536  
    Voting Earnings per common share – basic and diluted   $ 0.60     $ 1.51     $ 0.69     $ (0.75 )   $ 0.32     $ 0.34     $ 0.41  
    Series A Non-Voting Earnings per common share- basic and diluted   $ 0.60     $ 1.51     $ 0.69     $ (0.75 )   $ 0.32     $ 0.34     $ 0.41  
    Dividends per common share (Voting and Series A Non-Voting)   $ 0.40     $ 0.36     $ 0.10     $ 0.10     $ 0.10     $ 0.10     $ 0.09  

    1 Although the Company owned 51% of its membership interest in FitzGibbons Agency, LLC (“Agency”) the Company is required to consolidate 100% of the Agency within the consolidated financial statements.
    2 The $3,169,000 consolidated gain on asset sale equals $1,616,000 associated with the Company’s 51% interest in the Agency plus $1,553,000 associated with the 49% noncontrolling interest.

    The above information is preliminary and based on the Company’s data available at the time of presentation.

        Years Ended December 31,     2024     2023  
    FINANCIAL HIGHLIGHTS:   2024     2023     Q4     Q3     Q2     Q1     Q4  
    Selected Ratios:                                          
    Return on average assets     0.26 %     0.67 %     1.17 %     -1.25 %     0.56 %     0.59 %     0.72 %
    Return on average common equity     3.06 %     8.09 %     14.09 %     -14.79 %     6.49 %     7.01 %     8.72 %
    Return on average equity     3.06 %     8.09 %     14.09 %     -14.79 %     6.49 %     7.01 %     8.72 %
    Return on average tangible common equity 1     3.23 %     8.43 %     15.54 %     -15.28 %     6.78 %     7.32 %     9.01 %
    Net interest margin     3.01 %     2.95 %     3.15 %     3.34 %     2.78 %     2.75 %     2.74 %
    Loans / deposits     76.30 %     80.10 %     76.30 %     77.05 %     80.66 %     77.79 %     80.10 %
    Core deposits/deposits 2     76.87 %     69.83 %     76.87 %     77.45 %     67.98 %     69.17 %     69.83 %
    Annualized non-interest expense / average assets     3.17 %     2.11 %     2.33 %     2.75 %     2.19 %     2.16 %     2.01 %
    Commercial real estate / risk-based capital 3     186.73 %     162.21 %     186.73 %     189.47 %     169.73 %     163.93 %     162.21 %
    Efficiency ratio 1     71.86 %     66.74 %     69.42 %     75.28 %     74.08 %     68.29 %     67.25 %
                                               
    Other Selected Data:                                          
    Average yield on loans     5.83 %     5.26 %     5.87 %     6.31 %     5.64 %     5.48 %     5.55 %
    Average cost of interest bearing deposits     3.08 %     2.45 %     2.94 %     3.11 %     3.21 %     3.07 %     3.10 %
    Average cost of total deposits, including non-interest bearing     2.59 %     2.07 %     2.44 %     2.59 %     2.72 %     2.61 %     2.63 %
    Deposits/branch 4   $ 100,366     $ 101,824     $ 100,366     $ 99,684     $ 100,116     $ 104,192     $ 101,824  
    Pre-tax, pre-provision net income 1   $ 13,478     $ 14,652     $ 3,764     $ 3,368     $ 2,767     $ 3,579     $ 3,431  
    Total revenue 1   $ 47,895     $ 44,047     $ 12,308     $ 13,627     $ 10,675     $ 11,285     $ 10,475  
                                               
    Share and Per Share Data:                                          
    Cash dividends per share   $ 0.40     $ 0.36     $ 0.10     $ 0.10     $ 0.10     $ 0.10     $ 0.09  
    Book value per common share   $ 19.90     $ 19.59     $ 19.90     $ 19.71     $ 20.22     $ 19.97     $ 19.59  
    Tangible book value per common share 1   $ 18.10     $ 18.83     $ 18.10     $ 17.75     $ 19.46     $ 19.21     $ 18.83  
    Basic and diluted weighted average shares outstanding – Voting     4,714       4,653       4,732       4,714       4,708       4,701       4,693  
    Basic and diluted earnings per share – Voting 5   $ 0.60     $ 1.51     $ 0.69     $ (0.75 )   $ 0.32     $ 0.34     $ 0.41  
    Basic and diluted weighted average shares outstanding – Series A Non-Voting     1,380       1,380       1,380       1,380       1,380       1,380       1,380  
    Basic and diluted earnings per share – Series A Non-Voting 5   $ 0.60     $ 1.51     $ 0.69     $ (0.75 )   $ 0.32     $ 0.34     $ 0.41  
    Common shares outstanding at period end     6,123       6,100       6,123       6,100       6,100       6,100       6,100  
                                               
    Pathfinder Bancorp, Inc. Capital Ratios:                                          
    Company tangible common equity to tangible assets 1     7.57 %     7.86 %     7.57 %     7.36 %     8.24 %     8.09 %     7.86 %
    Company Total Core Capital (to Risk-Weighted Assets)     15.70 %     16.17 %     15.70 %     15.55 %     16.19 %     16.23 %     16.17 %
    Company Tier 1 Capital (to Risk-Weighted Assets)     12.04 %     12.30 %     12.04 %     11.84 %     12.31 %     12.33 %     12.30 %
    Company Tier 1 Common Equity (to Risk-Weighted Assets)     11.55 %     11.81 %     11.55 %     11.33 %     11.83 %     11.85 %     11.81 %
    Company Tier 1 Capital (to Assets)     8.69 %     9.35 %     8.69 %     8.29 %     9.16 %     9.16 %     9.35 %
                                               
    Pathfinder Bank Capital Ratios:                                          
    Bank Total Core Capital (to Risk-Weighted Assets)     14.70 %     15.05 %     14.70 %     14.52 %     16.04 %     15.65 %     15.05 %
    Bank Tier 1 Capital (to Risk-Weighted Assets)     13.44 %     13.80 %     13.44 %     13.26 %     14.79 %     14.39 %     13.80 %
    Bank Tier 1 Common Equity (to Risk-Weighted Assets)     13.44 %     13.80 %     13.44 %     13.26 %     14.79 %     14.39 %     13.80 %
    Bank Tier 1 Capital (to Assets)     9.69 %     10.11 %     9.69 %     9.13 %     10.30 %     10.13 %     10.11 %

    1 Non-GAAP financial metrics. See non-GAAP reconciliation included herein for the most directly comparable GAAP measures.
    2 Non-brokered deposits excluding certificates of deposit of $250,000 or more.
    3 Construction and development, multifamily, and non-owner occupied CRE loans as a percentage of Pathfinder Bank total capital.
    4 Includes 11 full-service branches and one motor bank for December 31 and September 30, 2024, respectively. Includes 10 full-service branches and one motor bank for all periods prior.
    5 Basic and diluted earnings per share are calculated based upon the two-class method. Weighted average shares outstanding do not include unallocated ESOP shares.

    The above information is preliminary and based on the Company’s data available at the time of presentation.
        Years Ended December 31,     2024     2023  
    ASSET QUALITY:   2024     2023     Q4     Q3     Q2     Q1     Q4  
    Total loan charge-offs   $ 10,183     $ 4,221     $ 1,191     $ 8,812     $ 112     $ 68     $ 211  
    Total recoveries     345       355       171       90       46       38       103  
    Net loan charge-offs     9,838       3,866       1,020       8,722       66       30       108  
    Allowance for credit losses at period end     17,243       15,975       17,243       17,274       16,892       16,655       15,975  
    Nonperforming loans at period end     22,084       17,227       22,084       16,170       24,490       19,652       17,227  
    Nonperforming assets at period end   $ 22,084     $ 17,378     $ 22,084     $ 16,170     $ 24,550     $ 19,734     $ 17,378  
    Annualized net loan charge-offs to average loans     1.09 %     0.43 %     0.44 %     3.82 %     0.03 %     0.01 %     0.05 %
    Allowance for credit losses to period end loans     1.88 %     1.78 %     1.88 %     1.87 %     1.90 %     1.87 %     1.78 %
    Allowance for credit losses to nonperforming loans     78.08 %     92.73 %     78.08 %     106.83 %     68.98 %     84.75 %     92.73 %
    Nonperforming loans to period end loans     2.40 %     1.92 %     2.40 %     1.75 %     2.76 %     2.20 %     1.92 %
    Nonperforming assets to period end assets     1.50 %     1.19 %     1.50 %     1.09 %     1.70 %     1.36 %     1.19 %
                                                             
        2024       2023  
    LOAN COMPOSITION:   December 31,     September 30,     June 30,     March 31,     December 31,  
    1-4 family first-lien residential mortgages   $ 251,373     $ 255,235     $ 250,106     $ 252,026     $ 257,604  
    Residential construction     4,864       4,077       309       1,689       1,355  
    Commercial real estate     377,619       378,805       370,361       363,467       358,707  
    Commercial lines of credit     67,602       64,672       62,711       67,416       72,069  
    Other commercial and industrial     89,800       88,247       90,813       91,178       89,803  
    Paycheck protection program loans     113       125       136       147       158  
    Tax exempt commercial loans     4,544       2,658       3,228       3,374       3,430  
    Home equity and junior liens     51,948       52,709       35,821       35,723       34,858  
    Other consumer     72,710       76,703       75,195       77,106       79,797  
    Subtotal loans     920,573       923,231       888,680       892,126       897,781  
    Deferred loan fees     (1,587 )     (1,571 )     (417 )     (595 )     (574 )
    Total loans   $ 918,986     $ 921,660     $ 888,263     $ 891,531     $ 897,207  
                                             
        2024     2023  
    DEPOSIT COMPOSITION:   December 31,     September 30,     June 30,     March 31,     December 31,  
    Savings accounts   $ 128,752     $ 129,053     $ 106,048     $ 111,465     $ 113,543  
    Time accounts     360,586       352,729       368,262       378,103       377,570  
    Time accounts in excess of $250,000     142,473       140,181       117,021       114,514       95,272  
    Money management accounts     11,583       11,520       12,154       11,676       12,364  
    MMDA accounts     239,016       250,007       193,915       215,101       224,707  
    Demand deposit interest-bearing     101,080       97,344       128,168       134,196       119,321  
    Demand deposit noninterest-bearing     213,719       210,110       169,145       176,434       170,169  
    Mortgage escrow funds     7,184       5,269       6,564       4,624       7,121  
    Total deposits   $ 1,204,393     $ 1,196,213     $ 1,101,277     $ 1,146,113     $ 1,120,067  
                                             

    The above information is preliminary and based on the Company’s data available at the time of presentation.

        Years Ended December 31,     2024     2023  
    SELECTED AVERAGE BALANCES:   2024     2023     Q4     Q3     Q4  
    Interest-earning assets:                              
    Loans   $ 903,941     $ 899,605     $ 920,855     $ 914,467     $ 896,439  
    Taxable investment securities     423,475       379,600       412,048       415,751       403,411  
    Tax-exempt investment securities     30,861       30,318       34,918       30,382       27,941  
    Fed funds sold and interest-earning deposits     16,379       11,730       5,115       42,897       11,630  
    Total interest-earning assets     1,374,656       1,321,253       1,372,936       1,403,497       1,339,421  
    Noninterest-earning assets:                              
    Other assets     102,582       100,319       112,654       103,856       102,940  
    Allowance for credit losses     (16,670 )     (17,870 )     (17,145 )     (16,537 )     (17,359 )
    Net unrealized losses on available-for-sale securities     (9,769 )     (13,600 )     (8,534 )     (9,161 )     (15,653 )
    Total assets   $ 1,450,799     $ 1,390,102     $ 1,459,911     $ 1,481,655     $ 1,409,349  
    Interest-bearing liabilities:                              
    NOW accounts   $ 101,336     $ 92,223     $ 102,862     $ 102,868     $ 87,210  
    Money management accounts     11,679       14,116       11,371       11,828       12,518  
    MMDA accounts     227,597       239,182       257,429       227,247       231,957  
    Savings and club accounts     118,965       124,617       128,169       127,262       115,984  
    Time deposits     517,352       480,867       504,008       514,049       505,554  
    Subordinated loans     30,002       29,815       30,076       30,025       29,883  
    Borrowings     114,471       105,471       68,391       122,129       124,780  
    Total interest-bearing liabilities     1,121,402       1,086,291       1,102,306       1,135,408       1,107,886  
    Noninterest-bearing liabilities:                              
    Demand deposits     184,572       172,950       206,521       195,765       169,340  
    Other liabilities     21,923       16,037       29,491       24,856       15,858  
    Total liabilities     1,327,897       1,275,278       1,338,318       1,356,029       1,293,084  
    Shareholders’ equity     122,902       114,824       121,593       125,626       116,265  
    Total liabilities & shareholders’ equity   $ 1,450,799     $ 1,390,102     $ 1,459,911     $ 1,481,655     $ 1,409,349  
                                             
        Years Ended December 31,     2024     2023  
    SELECTED AVERAGE YIELDS:   2024     2023     Q4     Q3     Q4  
    Interest-earning assets:                              
    Loans     5.83 %     5.26 %     5.87 %     6.31 %     5.55 %
    Taxable investment securities     5.42 %     4.76 %     5.32 %     5.59 %     5.28 %
    Tax-exempt investment securities     6.22 %     6.42 %     5.10 %     6.17 %     7.24 %
    Fed funds sold and interest-earning deposits     4.84 %     2.51 %     6.41 %     4.59 %     2.37 %
    Total interest-earning assets     5.70 %     5.12 %     5.69 %     6.04 %     5.47 %
    Interest-bearing liabilities:                              
    NOW accounts     1.10 %     0.58 %     1.19 %     1.09 %     1.02 %
    Money management accounts     0.11 %     0.11 %     0.11 %     0.10 %     0.10 %
    MMDA accounts     3.52 %     2.80 %     3.23 %     3.54 %     3.72 %
    Savings and club accounts     0.26 %     0.22 %     0.26 %     0.25 %     0.26 %
    Time deposits     3.98 %     3.27 %     3.90 %     4.09 %     3.89 %
    Subordinated loans     6.55 %     6.51 %     6.52 %     6.61 %     6.61 %
    Borrowings     4.29 %     3.35 %     4.89 %     4.38 %     4.15 %
    Total interest-bearing liabilities     3.29 %     2.65 %     3.16 %     3.34 %     3.31 %
    Net interest rate spread     2.41 %     2.47 %     2.53 %     2.70 %     2.16 %
    Net interest margin     3.01 %     2.95 %     3.15 %     3.34 %     2.74 %
    Ratio of average interest-earning assets to average interest-bearing liabilities     122.58 %     121.63 %     124.55 %     123.61 %     120.90 %
                                             

    The above information is preliminary and based on the Company’s data available at the time of presentation.

        Years Ended December 31,     2024     2023  
    NON-GAAP RECONCILIATIONS:   2024     2023     Q4     Q3     Q2     Q1     Q4  
    Tangible book value per common share:                                          
    Total equity               $ 121,860     $ 120,246     $ 123,348     $ 121,818     $ 119,495  
    Intangible assets                 (11,045 )     (11,969 )     (4,612 )     (4,616 )     (4,621 )
    Tangible common equity (non-GAAP)                 110,815       108,277       118,736       117,202       114,874  
    Common shares outstanding                 6,123       6,100       6,100       6,100       6,100  
    Tangible book value per common share (non-GAAP)               $ 18.10     $ 17.75     $ 19.46     $ 19.21     $ 18.83  
    Tangible common equity to tangible assets:                                          
    Tangible common equity (non-GAAP)               $ 110,815     $ 108,277     $ 118,736     $ 117,202     $ 114,874  
    Tangible assets                 1,463,829       1,471,157       1,441,599       1,449,056       1,461,177  
    Tangible common equity to tangible assets ratio (non-GAAP)                 7.57 %     7.36 %     8.24 %     8.09 %     7.86 %
    Return on average tangible common equity:                                          
    Average shareholders’ equity   $ 122,902     $ 114,824     $ 121,593     $ 125,626     $ 123,211     $ 121,031     $ 116,265  
    Average intangible assets     6,468       4,629       11,907       4,691       4,614       4,619       4,623  
    Average tangible equity (non-GAAP)     116,434       110,195       109,686       120,935       118,597       116,412       111,642  
    Net income (loss)     3,760       9,293       4,284       (4,644 )     2,000       2,120       2,536  
    Net income (loss), annualized   $ 3,760     $ 9,293     $ 17,043     $ (18,475 )   $ 8,044     $ 8,527     $ 10,061  
    Return on average tangible common equity (non-GAAP) 1     3.23 %     8.43 %     15.54 %     -15.28 %     6.78 %     7.32 %     9.01 %
    Revenue, pre-tax, pre-provision net income, and efficiency ratio:                                          
    Net interest income   $ 41,432     $ 38,919     $ 10,820     $ 11,732     $ 9,480     $ 9,400     $ 9,159  
    Total noninterest income     9,561       5,190       4,906       1,707       1,211       1,737       1,318  
    Net realized (gains) losses on sales and redemptions of investment securities     (71 )     62       249       (188 )     16       (148 )     2  
    Gain on asset sale     3,169       –       3,169       –       –       –       –  
    Revenue (non-GAAP) 2     47,895       44,047       12,308       13,627       10,675       11,285       10,475  
    Total non-interest expense     34,417       29,395       8,544       10,259       7,908       7,706       7,044  
    Pre-tax, pre-provision net income (non-GAAP) 3   $ 13,478     $ 14,652     $ 3,764     $ 3,368     $ 2,767     $ 3,579     $ 3,431  
    Efficiency ratio (non-GAAP) 4     71.86 %     66.74 %     69.42 %     75.28 %     74.08 %     68.29 %     67.25 %

    1 Return on average tangible common equity equals annualized net income (loss) divided by average tangible equity
    2 Revenue equals net interest income plus total noninterest income less net realized gains or losses on sales and redemptions of investment securities and gain on sale of insurance agency
    3 Pre-tax, pre-provision net income equals revenue less total non-interest expense
    4 Efficiency ratio equals noninterest expense divided by revenue

    The above information is preliminary and based on the Company’s data available at the time of presentation.

    The MIL Network –

  • MIL-OSI USA: Welch Slams Trump Tariffs: “Donald Trump has just raised prices for every working American.” 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.) released the following statement after the White House confirmed President Trump is expected to put new tariffs on imports from Canada, Mexico, and China on Saturday:  
    “Donald Trump has just raised prices for every working American. He has threatened jobs and set our nation up for retaliation and years of painful trade disputes. On Monday in St. Albans, Vermont—only 15 miles from the northern border—I brought together Vermont businesses and local leaders to hear directly from them about how another Trump Trade War would hurt our state. It was clear: Donald Trump’s policy of chaos is one that Vermont can’t afford.  
    “We need a ‘Do No Harm’ approach when it comes to tariffs and trade policy—especially when we’re talking about our biggest trading partner, Canada. Vermont’s and Canada’s economies are closely intertwined, and our families, farmers, and businesses will suffer because of these reckless 25% tariffs. These actions are reckless, counterproductive, and destructive. A trade war is not the answer.”  
    The White House has not provided the public with an exemption process ahead of the February 1st start date. The White House announced it plans to put a 25% tariff on imports from Canada and Mexico, as well as a 10% tariff on imports from China. 
    On Monday, Senator Welch convened Vermont businesses and state and local leaders for a roundtable discussion on President Trump’s threats to reignite a trade war with Canada and other U.S. trade allies by imposing dramatic tariffs on goods imported from Canada. Sen. Welch was joined by the Vermont Chamber of Commerce; the Vermont Association of General Contractors; Manufacturing Solutions, Inc.; H20 Innovation; A.N. Deringer, Inc.; Poulin Grain; Green Mountain Power; Vermont State Treasurer Mike Pieciak; Brett Long, Deputy Commissioner, Vermont Department of Economic Development; and Tim Smith, the Mayor of St. Albans. 
    Attendees at the roundtable spoke about the impact of the tariffs on their businesses and their concerns regarding President Trump’s rhetoric regarding trade since taking office last week.  
    Vermont sells more goods to Canada than the next six largest foreign markets combined. In 2023, Vermont exported $150 million just in food and agricultural products to Canada. In many cases, Vermont manufacturers buy imports from Canada to manufacture into products.  However, the ability of Vermont’s small manufacturing businesses to absorb a 25% increase in costs on parts or raw materials is limited. Tariffs on Canada and Mexico could result in layoffs or higher homebuilding costs, increased costs of grain for farmers, and more expensive equipment for maple producers.  
    Tariffs could also increase the cost of utilities for Vermonters. According to preliminary estimates, a 25% tariff on goods from Canada could increase customer rates for natural gas by 10% (based on firm customer rates). Electricity rates could increase by 2.5% in Vermont and by 5% for New England wholesale electricity prices.   

    MIL OSI USA News –

  • MIL-OSI USA: Get Repair, Rebuilding Advice Feb. 3-8 in Hamblen, Hawkins, Washington Counties

    Source: US Federal Emergency Management Agency

    Headline: Get Repair, Rebuilding Advice Feb. 3-8 in Hamblen, Hawkins, Washington Counties

    Get Repair, Rebuilding Advice Feb. 3-8 in Hamblen, Hawkins, Washington Counties

    FEMA’s mitigation specialists have partnered with The Home Depot and Lowe’s Home Improvement to offer free advice and tips on rebuilding homes stronger and safer as Tennessee residents repair, rebuild and make improvements after Tropical Storm Helene.FEMA specialists will be available as detailed below: Monday, Feb. 3, to Saturday, Feb. 8, at these locations:Hamblen CountyLowe’s Home Improvement                           2744 West Andrew Johnson Hwy.Morristown, TN 37814Hours: 7 a.m. to 6 p.m. ET Monday to Friday; 8 a.m. to 5 p.m. ET SaturdayHawkins CountyThe Home Depot2000 Harrell Rd. Kingsport, TN 37660Hours: 7 a.m. to 6 p.m. ET Monday to Friday; 8 a.m. to 5 p.m. ET SaturdayWashington CountyLowe’s Home Improvement180 Marketplace Blvd.Johnson City, TN 37604Hours: 7 a.m. to 6 p.m. ET Monday to Friday; 8 a.m. to 5 p.m. ET SaturdayThe mitigation specialists are available to answer questions and offer home-improvement tips and proven methods to help reduce damage from disasters. Most information is aimed at general contractors or those who do the work on their own.
    kwei.nwaogu
    Fri, 01/31/2025 – 21:21

    MIL OSI USA News –

  • MIL-OSI United Nations: Sudan: UN rights chief ‘alarmed’ by summary executions, attacks on civilians

    Source: United Nations 4

    Peace and Security

    The UN High Commissioner for Human Rights, Volker Türk, has voiced deep alarm over reports of summary executions of civilians allegedly carried out by fighters and militias allied with the Sudanese Armed Forces (SAF) in the city of Khartoum North, calling for an immediate halt to the killings.   

    Government forces and a rival military – the Rapid Support Forces (RSF) – have been battling for control of the country since April 2023 in what Mr. Türk called a “senseless war”, which has recently taken an “even more dangerous turn for civilians” as reports of people brutally killed in ethnically targeted attacks mount.

    In a statement released on Friday, the High Commissioner reported that at least 18 civilians, including one woman, were killed in seven separate incidents after SAF forces regained control of the area around Khartoum North – Sudan’s third largest city – on 25 January, according to verified information from the rights chief’s office (OHCHR).

    Many of the victims were originally from the Darfur and Kordofan regions, raising concerns about targeted violence.

    “These reports of summary executions, following similar incidents earlier this month in Al Jazirah State, are deeply disturbing,” said Mr. Türk.

    “Such killings must not become normalised. Deliberately taking the life of a civilian or anyone not or no longer directly taking part in hostilities is a war crime,” he emphasised.

    Disturbing threats circulate online

    OHCHR is also investigating disturbing video footage that surfaced on 30 January, in which men in SAF uniforms and members of the Al Baraa Bin Malik Brigade in Khartoum North appear to read out a list of alleged RSF collaborators, saying “Zaili,” which is Arabic for “killed”, after each name.

    Meanwhile, further threats of violence have emerged, with a video showing a member of the same brigade threatening to slaughter residents of El Hadj Yusif in East Nile, another area of Khartoum North mainly inhabited by people from Darfur and Kordofan.

    Mr. Türk urged all parties to the conflict to protect civilians and respect international humanitarian and human rights law.

    “Independent investigations must be held into these incidents in line with relevant international standards,” he underscored.

    Civilians under fire

    Meanwhile, attacks on civilians by the RSF continue across Sudan.

    In El Fasher, North Darfur, the Abu Shouk camp for internally displaced people (IDPs) was shelled again on 29 January, killing nine civilians, including two women and a child, and injuring at least 12 others.

    Hospitals have also been targeted. On 24 January, a drone attack attributed to the RSF killed at least 67 people and injured 19 at Al-Saudi Maternity Hospital in El Fasher. The attack severely damaged the emergency unit, rendering it inoperable.

    The hospital – the only facility providing specialised maternal care in the area – has now been struck twice this month and was shelled at least 13 times in 2024.

    “Deliberate attacks on civilians and civilian objects are abhorrent,” Mr. Türk stated. “They must end immediately and so must incitement to violence against civilians,” he emphasised.

    As violence escalates, Mr. Türk reiterated the urgent need for all parties to uphold their legal obligations and ensure the protection of civilians. 

    MIL OSI United Nations News –

  • MIL-OSI USA: COLUMN: Walker: Weeks Two and Three Under the Gold Dome

    Source: US State of Georgia

    By: Sen. Larry Walker, III (R–Perry)

    The third week of the 2025 Legislative Session has wrapped up, and we’re staying focused on passing commonsense legislation that puts Georgia families, businesses and communities first.

    Last week’s snowstorm may have delayed budget hearings for a few days, but it didn’t slow us down. The General Assembly has been hard at work in joint sessions, carefully reviewing budget requests to ensure taxpayer dollars are spent wisely. Passing a balanced budget is not only our constitutional duty—it’s the foundation of a responsible government that serves its people.

    One of the most crucial budget proposals this session is Governor Brian P. Kemp’s plan to return $1 billion in surplus funds directly to taxpayers. Thanks to years of conservative budgeting and fiscal responsibility, we’re in a position to give back to the hardworking Georgians who keep our state running. This is just part of the $2.2 billion in statewide allocations designed to benefit families, businesses and communities across Georgia. I’m proud to support Gov. Kemp’s efforts to strengthen our economy by putting more money back in your pockets.

    Another key priority is ensuring communities hit hardest by Hurricane Helene have the resources they need to rebuild. Gov. Kemp has proposed $614.72 million in recovery funding, including $150 million for the Governor’s Emergency Fund to help with debris removal and housing assistance. Another $300 million will go to the Georgia Department of Transportation to restore roads and infrastructure. Many rural counties are still reeling from this storm, and we’re committed to making sure they get the support they need to recover and move forward.

    Back at the Capitol, we hit the ground running this week, advancing legislation that reflects our values and priorities. One of the bills I’m proud to sponsor, Senate Bill (SB) 35, would increase the number of days’ notice that a policyholder must be given before his or her homeowners’ insurance policy is not renewed. The previous 30 days’ notice of nonrenewal is not enough time for the homeowner to avoid any lapses in coverage or properly address concerns with their insurance company. With this in mind, SB 35’s proposed 60 days’ notice will give Georgians and their insurance agent sufficient time to find replacement coverage and make sure that their home is protected.

    I’m also proud to support Senate Bill (SB) 52. This legislation, also known as the Timberlands Recovery, Exemption and Earnings Stability (TREES) Act, would allow local governments to provide tax relief for the timber industry. Timber is one of Georgia’s most important industries, and communities like those in the 20th Senate District depend on timber as an agricultural investment and a source of tax revenue. The devastation wrought by Hurricane Helene has left that industry in desperate need of relief, and with the TREES Act, we will waive the timber harvest tax in hurricane ravaged counties to help these communities recover from the catastrophe of this unprecedented storm.

    As committee meetings pick up, we’re working hard on issues that matter most to our communities, from protecting our schools to strengthening local infrastructure. I chaired the first meeting of the Senate Committee on Insurance and Labor this week, and I look forward to the committee’s regular meetings in the coming weeks.

    Finally, I encourage students ages 12 to 18 to apply for the Senate Page Program. This is an excellent way for young people to see firsthand how the General Assembly works. If you know a student who might be interested, they can apply on the Senate website here.

    As always, I’m here to listen. If you have any questions, concerns, or ideas about our work at the Capitol, please don’t hesitate to reach out. It’s an honor to serve you, and I appreciate your trust as we work together throughout the remainder of the 2025 legislative session.

    # # # #

    Sen. Larry Walker serves as Secretary of the Majority Caucus and Chairman of the Senate Committee on Insurance and Labor. He represents the 20th Senate District, which includes Bleckley, Dodge, Dooly, Laurens, Treutlen, Pulaski and Wilcox counties, as well as portions of Houston County.  He may be reached by phone at (404) 656-0095 or by email at Larry.Walker@senate.ga.gov.

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI Security: U.S. Attorney’s Office Collects More than $4M in Civil and Criminal Actions Plus Nearly $2M in Forfeited Assets in Fiscal Year 2024

    Source: Office of United States Attorneys

    TULSA, Okla. – U.S. Attorney Clint Johnson announced today that the Northern District of Oklahoma (NDOK) collected $4,029,804.93 in criminal and civil actions in Fiscal Year 2024. Of this amount, $2,572,450.48 was collected in criminal actions, and $1,457,354.45 was collected in civil actions. Additionally, the NDOK worked with partner agencies and divisions to collect $1,726,442 in asset forfeiture actions in FY 2024.

    “The Asset Recovery Unit and Asset Forfeiture teams consist of federal prosecutors, investigators, and professional support staff. In 2024, they collected more than $4 million on behalf of victims and collected nearly $2 million in assets, said U.S. Attorney, Clint Johnson. “Both teams diligently work to recover court ordered restitution to victims and process court ordered forfeiture. This funding not only impacts the Crime Victims Fund, but also goes towards law enforcement programs.”   

    Examples of Asset Recovery…
    In March 2024, the Northern District recovered $106,994.94 in U.S. v. Shane Hannaford, 21-CR-111. A veteran of the U.S. Marines, Hannaford devised a fraudulent investment scheme, defrauding fellow veterans he had served with in Iraq. Hannaford pled guilty to Bank Fraud, and the Court ordered him to pay $806,607.14 in restitution to his victims. The Northern District captured a significant payment towards restitution by intercepting proceeds from Hannaford’s sale of his home.

    In September 2024, the Northern District recovered $287,521.53 in U.S. v. Keven Ellis Partin, 19-CR-121. Partin pled guilty to Offering or Paying Healthcare Kickbacks. The Court ordered him to pay $338,805 in restitution to Department of Labor, TRICARE, Department of Veteran Affairs, and Medicare. Through liens and other enforcement tools, the Northern District recovered full restitution for these federal agencies.

    In May 2024, the Northern District of Oklahoma recovered $62,000 in U.S. v. Leslie Ellen Mansfield, 23-CR-170. Mansfield, an attorney, oversaw special needs trust accounts for intellectually challenged adults. Mansfield pled guilty to Bank Fraud, and the Court ordered her to pay $137,240.95 in restitution. The Northern District recovered full restitution for the living victims.

    Examples of Asset Forfeiture…
    In March 2024, the Northern District recovered $35,000 in U.S. v. Jesus Salazar-Lares, et al., 22-CR-339. In Aug. 2024, Salazar-Lares and others, traveled from Chicago to Tulsa and delivered more than 10 pounds of methamphetamine.  Salazar-Lares pled guilty to distribution of methamphetamine. The court authorized the seizure of $35,000 in cash.

    In April 2024, the Northern District recovered $84,788.42 in U.S. v. Melvin Brown, 22-CR-419. From July 2020 through May 2021, Brown conspired with others to distribute cocaine. Romero pled guilty to drug conspiracy. The court authorized the seizure of Romero’s bank account that had approximately $84,788.42.

    In June 2024, the Northern District recovered $620,000 in U.S. v. Jose Romero, et al., 22-CR-339. From Oct. 2019 through Oct. 2022, Romero conducted financial transactions with funds received through drug trafficking. Romero pled guilty to 18 counts of money laundering. The court authorized the forfeiture of $20,297 in cash, 18 vehicles, one firearm, approximately $50,076.31 from seized bank accounts, and four real estate properties.

    The U.S. Attorneys’ Offices, along with the department’s litigating divisions, are responsible for enforcing and collecting civil and criminal debts owed to the U.S. and criminal debts owed to federal crime victims. The law requires defendants to pay restitution to victims of certain federal crimes who have suffered a physical injury or financial loss. While restitution is paid to the victim, criminal fines and felony assessments are paid to the department’s Crime Victims Fund, which distributes the funds collected to federal and state victim compensation and victim assistance programs.

    Forfeited assets deposited into the Department of Justice Assets Forfeiture Fund are used to restore funds to crime victims and for a variety of law enforcement purposes. 

    MIL Security OSI –

  • MIL-OSI Security: BATON ROUGE MAN SENTENCED TO 211 MONTHS IN FEDERAL PRISON FOR DRUG TRAFFICKING AND FIREARMS VIOLATIONS

    Source: Office of United States Attorneys

    United States Attorney Ronald C. Gathe, Jr. announced that Judge John W. deGravelles sentenced Demarlo Brown, age 42, of Baton Rouge, Louisiana, to 211 months in federal prison following his convictions for conspiracy to distribute and possession with the intent to distribute methamphetamine and fentanyl, and possession of firearms in furtherance of a drug trafficking crime. The Court further sentenced Brown to serve five years of supervised release following his term of imprisonment and ordered that the proceeds from his drug trafficking crimes, as well as firearms and ammunition seized by law enforcement, be forfeited.

    This case was the result of an extensive federal, state, and local investigation by the Middle District Organized Crime and Drug Enforcement Task Force (OCDETF) aimed at a drug trafficking network based and operating in East Baton Rouge Parish and surrounding areas.

    According to admissions made as part of his guilty plea,from March through September 2019, Brown operated a drug distribution organization in the Baton Rouge area where he and others distributed methamphetamine, fentanyl, and heroin. When law enforcement raided his home and other locations associated with Brown, they seized over 27 ounces of methamphetamine, 2.7 ounces of heroin, and 1.6 ounces of fentanyl.  Two firearms and 38 rounds of ammunition were also seized from Brown that he illegally possessed to protect himself, his drugs, and his cash proceeds from drug sales. In total, six firearms and 168 rounds of ammunition were seized in the raids.

    Brown was a convicted felon and prohibited from possessing the firearms and ammunition. In April 2024, prior to possessing the two firearms and ammunition, he was convicted in the 19th Judicial District Court of armed robbery and was sentenced to 10 years at hard labor.   

    This matter was investigated by the Drug Enforcement Administration, Bureau of Alcohol, Tobacco, Firearms & Explosives, East Baton Rouge Sheriff’s Office, Livingston Parish Sheriff’s Office, and Baton Rouge City Police Department, and was prosecuted by Assistant United States Attorneys Lyman E. Thornton, III and Jessica Jarreau, who also serves as Deputy Chief of the Organized and Violent Crime Unit of the U.S. Attorney’s Office.

    This effort is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation.  OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach.  Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF. 

    MIL Security OSI –

  • MIL-OSI Security: Former University Professor Charged with Attempted Coercion and Enticement of a Minor

    Source: Office of United States Attorneys

    COLUMBIA, S.C. — Mohammad Ebrahim Torki Harchegani, 38, has been charged with attempted enticement of a minor for sexual activity.

    During a contested bond hearing, an FBI special agent testified that on Dec. 3-4, 2024, multiple agencies participated in an online chat operation targeting child sex offenders where an officer posed as a 14-year-old female. Torki, a legal permanent resident of the United States and Iranian citizenship, engaged in sexually explicit conversations with the alleged 14-year-old girl. Toriki ultimately traveled to the residence where he believed the girl was home alone to engage in sexual activities with her. He was arrested thereafter.

    Testimony was also presented that Torki was previously a professor at the University of South Carolina. Upon his arrest, his employment was suspended and his contract with the university was not renewed.

    The FBI Columbia Field Office, the South Carolina Internet Crimes Against Children Task Force, and the Richland County Sheriff’s Department participated in the online chat operation and investigated the case. Assistant U.S. Attorneys Elle E. Klein and Winston Holliday are prosecuting the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the U.S. Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by the U.S. Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals, who sexually exploit children, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit http://www.justice.gov/psc.

    Torki was ordered detained at the hearing. He faces a maximum penalty of life in prison.

    All charges in the indictment are merely accusations and defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

    ###

    MIL Security OSI –

  • MIL-OSI USA: Gillibrand Slams Trump Policy That Would Gut Social Security Administration, Make It Harder For Seniors To Receive Benefits

    US Senate News:

    Source: United States Senator for New York Kirsten Gillibrand
    U.S. Senator Kirsten Gillibrand, ranking member of the Senate Aging Committee, is leading 11 of her Senate colleagues in a letter warning that President Trump’s plan to “buy out” federal workers would make it harder for older Americans to get their Social Security benefits. Earlier this week, Trump offered federal workers the option to resign and continue to receive full pay and benefits until September 30th, 2025, even though many federal agencies – including the Social Security Administration, which processes Social Security applications – are facing staffing shortages. Further reducing staffing through the buyout programs could force seniors to wait longer to receive assistance and benefits.
    “Trump’s buyout offer would have devastating consequences for the tens of millions of Americans who rely on Social Security,” said Senator Gillibrand. “Since the first Trump administration, the Social Security Administration has struggled to retain staff, and the agency is in desperate need of more personnel to process applications and serve beneficiaries. This policy would only exacerbate staffing shortages and long service wait times. Forcing seniors to wait indefinitely to get their benefits is unacceptable, and I am demanding answers from the administration about its plan to keep SSA functioning.”
    Gillibrand’s letter to the United States Office of Personnel Management, which sent the email earlier this week offering the buyout, was cosigned by Senators Jeanne Shaheen (D-NH), Richard Blumenthal (D-CT), Mazie Hirono (D-HI), Chris Van Hollen (D-MD), Raphael Warnock (D-GA), Tammy Duckworth (D-IL), Alex Padilla (D-CA), Ben Ray Luján (D-NM), Sheldon Whitehouse (D-RI), Angela Alsobrooks (D-MD), and Jack Reed (D-RI).
    The full text of Senator Gillibrand’s letter is available here or below:
    Dear Mr. Ezell,  
    We are writing today to express concern regarding the consequences of an email sent to federal employees from the U.S. Office of Personnel Management (OPM) on January 28, 2025.i As you are aware, the email offered two million federal employeesii a “deferred resignation program” allowing employees to resign and continue to receive pay and benefits until September 30, 2025. It is clear that the Administration is seeking to undermine federal programs by eliminating career public servants. We have grave concerns for how these personnel decisions will affect the programs that serve the American people, especially those served by the Social Security Administration (SSA).  
    Social Security is the nation’s most effective anti-poverty program, without which, four in 10 older adults would have incomes below the poverty line.iii In 2025, SSA will serve approximately 72.5 million beneficiaries, including retirees and their families, individuals with disabilities, and low-income older adults.iv As our Nation’s population continues to age, the number of beneficiaries served by Social Security, and the demand placed on SSA field offices, will increase.v While the agency should be prepared to meet this surge in beneficiaries, with limited resources and personnel, SSA has historically struggled to provide essential services in a timely manner. In 2024, the average wait time for service via phone was 45 minutes;vi in 2023 the average wait time for disability determinations was 230 days,vii and SSA staffing was at a 25-year low.viii  
    The origin of these challenges can be traced back to the previous Trump Administration; under the leadership of then-SSA Commissioner Andrew Saul, SSA imposed harsh union contracts and undermined employees’ workplace rights, failed to prioritize training and retention of SSA staff, and failed to deploy modernization efforts to improve delivery of benefits to eligible Americans, resulting in a notable decline in employee morale and an increase in staff departures. Surveys have shown that more than half of SSA employees considered leaving the agency due to burnout and poor compensation.ix Under the Biden Administration, SSA Commissioner Martin O’Malley worked to invest in the workforce, improve morale, and reverse failing policies imposed by President Trump— in six months, he successfully lowered the average phone wait time to under 13 minutesx and succeeded in reducing the number of pending disability determination hearings to the lowest number in 30 years.xi  
    But—years of decline cannot be fixed overnight, and challenges remain at SSA. Recent Executive Orders issued by President Trump, including the return-to-work mandate, the hiring freeze, and others, threaten to reverse improvements in SSA staff morale and staff retention. On top of these Executive Orders, your January 28th email could result in a staffing crisis at SSA. Workers who were already burned out and underpaid will likely be tempted by the resignation program, as will the one in four SSA employees who are eligible for retirement.xii This will have a tangible impact on beneficiaries, who will experience longer wait times and declining service quality. Given the significant impacts this proposal could have on one the Nation’s most valuable programs and the Nation’s most vulnerable individuals, we ask that you respond to the following questions: 
    Is the Administration planning to calculate the impact that these resignations could have on SSA’s ability to process applications and pay out benefits?  
    Further, P.L. 118-273, the Social Security Fairness Act, which would provide an estimated three million retired first responders, teachers, and other public servantsxiii with an average boost of $360xiv in their monthly benefits, was signed into law by President Biden at the end of last year. The law’s effective date was January 2024, and as a result, SSA will not only need to adjust current monthly benefits for these retirees, but also past benefits to ensure they are provided their entitled backpay. How does the Administration plan to ensure that resignations will not interfere with implementation of this law?   
    Should it become apparent that the number of “resignations” at SSA endanger the agency’s ability to serve Americans, does OPM plan to reject resignations from any employees?  
    Given that the Administration plans to afford benefits and pay through September 30, 2025 to employees who agree to resign, how does the Administration plan to attract, hire, and pay new SSA employees between now and September 30th to continue to meet service demands? Does the Administration plan to work with Congress to request supplemental funds for SSA’s operational budget?  
    The Administration has stated that it “insist[s] on excellence at every level.” How does the Administration plan to evaluate whether this rash deferred resignation policy is not resulting in the loss of well-qualified, federal employees who exhibit excellence in serving the American people and harm access to Social Security for the millions of Americans served by the program? 
    Will OPM instruct SSA to monitor changes in key metrics for customer satisfaction and benefit delivery after February 6th? If not, please explain why. If OPM does instruct SSA to monitor the impact of the deferred resignation program on customer satisfaction and benefit delivery processes, please describe the metrics that will be used.  For example, will SAA monitor for an increase in call times to SSA, an increase in wait time at SSA field offices, and an increase in wait time for processing Social Security applications? Please also describe how OPM will instruct SSA to publicize any changes in customer satisfaction and benefit delivery to the public and Congress. 
    Has the Administration worked with labor unions representing SSA employees, like the American Federation of Government Employees (AFGE), as well as organization representing beneficiaries, like AARP, in developing the deferred resignation policy? 
    Thank you for your attention to this urgent matter. We ask that you reply no later than Friday, February 7, 2025. 

    MIL OSI USA News –

  • MIL-OSI Economics: Paraguay President: Any multilateralism crisis can only be solved with more multilateralism

    Source: World Trade Organization

    President Peña noted that Paraguay is one of the most open economies in the world, firmly anchored in the belief that “free commerce is a bedrock of civilized peoples.” In fact, Paraguay is the second most open economy in Latin America, with no significant restrictions on trade, a simple tax system and a markedly pro-business stance, he said. As a landlocked country and primarily an agricultural exporter, producing food for ten times its population, Paraguay has no other alternative, he added.

    “We understand both the opportunities and vulnerabilities of global trade. Our experience has shown us that the path to development requires not isolation but deeper integration into global markets – guided by clear, fair and enforceable rules. For middle-sized economies like Paraguay, the multilateral trading system is not just one option among many, it is simply essential for our development and prosperity. This is why I believe that any crisis of multilateralism can only be solved by one thing: more multilateralism,” he declared.

    President Peña stressed that Paraguay’s commitment to the WTO stems from its experience as a country which has constructed a stable democracy with consistent economic policies and its unique perspective as a bridge between countries with different levels of development. It also comes from the deep conviction that multilateralism remains the most effective path to sustainable development, he added.

    Referring to the historic decision to establish multilateral institutions after the Second World War, President Peña noted that it is precisely during difficult times that organizations like the WTO have the unique opportunity not only to show the world their crucial importance but to justify their existence. “The creation of an international organization which seeks to put order into chaos in the world of commerce was not only a sound decision but a brilliant and endurable insight. … The WTO has been, is and will be a great idea,” he added.

    In his address to WTO ambassadors, heads of intergovernmental organizations, representatives of non-governmental organizations, business and academia, President Peña also underscored that WTO members must be proactive in order to overcome the challenges faced by the system.

    He pointed to the need to make meaningful progress on agricultural reform to achieve less distorted markets and enhance food security, and to the importance of restoring a fully functioning dispute settlement system accessible to all members. He also called on members to ensure that environmental measures enhance, rather than hinder, international trade, and to secure justice, fairness and equality, the most fundamental principles of international commerce.

    The lecture – titled “Sustaining Multilateralism in Uncertain Times: The Role of Middle Powers” – was preceded by opening remarks by WTO Director-General Ngozi Okonjo-Iweala, who stressed that under President Peña Paraguay registered South America’s strongest rates of GDP growth in 2023 and 2024, according to IMF data, with a positive outlook for 2025 as well.

    DG Okonjo-Iweala noted that as a landlocked developing country, Paraguay faces challenges familiar to many WTO members. In the case of Paraguay, these challenges have to do with diversifying its exports beyond meat, soybeans and electricity, and the vulnerability to climate change of the Paraguay-Parana River waterway that connects the country to world markets for goods.

    DG Okonjo-Iweala referred to the fifth WTO Trade Policy Review (TPR) of Paraguay undertaken in November 2024 and the recognition by other members of Paraguay’s active and constructive engagement at the WTO, particularly in agriculture negotiations. She noted that at the TPR meeting, members praised Paraguay’s broadly open trade and investment environment and noted its reliance on regional and global trade to drive development and poverty reduction.

    DG Okonjo-Iweala also drew attention to the current challenging environment and the potential for the world to become more fragmented. “We have lived in that world before in the 1930s. It was poorer and more violent. So we owe it to our children and grandchildren,” she said, to preserving the benefits of multilateralism whilst fixing its shortcomings. “This would help us build them a better future,” she added.

    A recording of the event can be viewed here.

    About the WTO’s Presidential Lecture Series

    The WTO’s Presidential Lecture Series provides a platform for distinguished speakers from around the world to deliver lectures on various aspects of multilateral cooperation and global governance. Several events are held each year.

    More information on the lecture series is available here.

    Share

    MIL OSI Economics –

  • MIL-OSI USA: King Joins Bipartisan Bill to Lower Child Care Costs and Address Shortage of Affordable Child Care

    US Senate News:

    Source: United States Senator for Maine Angus King

    WASHINGTON, D.C.—U.S. Senator Angus King (I-ME) is joining bipartisan legislation to lower child care costs and address the nationwide shortage of affordable child care. The Child Care Workforce and Facilities Act would provide competitive grants for states to train child care workers and build or renovate child care facilities.

    Families across the country are struggling to access available child care, with rural communities increasingly becoming “child care deserts” due to the noticeable decline in the number of child care providers. According to the Governor’s office, Maine has seen a 39% drop in the number of family childcare providers since 2013, significantly affecting the most rural communities.

    “Affordable and accessible child care is one of the most pressing needs for working families in Maine and across the nation,” said Senator King. “The bipartisan Child Care Workforce and Facilities Act would provide important grant funding to states like Maine to train additional child care workers and build or renovate new child care facilities. When families have access to care, they are able to succeed both at home and in their professional careers. Child care is more than a household priority; child care means business!”

    The Child Care Workforce and Facilities Act would:

    • Address the shortage of affordable child care and qualified child care professionals, particularly in rural areas; 
    • Provide competitive grants to states to support the education, training, or retention of the child care workforce;
    • Provide competitive grants to states to build, renovate, and expand child care facilities in areas experiencing shortages; 
    • Require grant applicants to demonstrate how their projects would increase the availability and affordability of quality child care, and help child care workers continue advance their careers; and 
    • Enhance retention and compensation of quality child care professionals.

    The legislation is cosponsored by Senators Kirsten Gillibrand (D-NY), Amy Klobuchar (D-MN), Dan Sullivan (R-AK), Jeff Merkley (D-OR), Jeanne Shaheen (D-NH), and Whitehouse (D-RI).

    Senator King has long worked to expand access to child care. He secured millions to improve child care services in the 2022 and 2023 omnibus appropriations bills, and worked to authorize the planning and development of a new child development center at Portsmouth Naval Shipyard. He is also the cosponsor of the Child and Dependent Care Tax Credit Enhancement Act, which would permanently expand the Child and Dependent Care Tax Credit that helps households offset their child care costs.

    MIL OSI USA News –

  • MIL-OSI Canada: Amid global uncertainty, minister meets with economic forecast council

    Source: Government of Canada regional news

    The impacts of potential U.S. tariffs are adding uncertainty to the global and domestic outlook, but private-sector forecasters indicate British Columbia is well positioned to take on whatever comes next.

    At their annual meeting with the finance minister on Friday, Jan. 31, 2025, the 13 independent private sector forecasters from across Canada that make up B.C.’s Economic Forecast Council (EFC) noted that, like all provinces, B.C.’s economic outlook is affected by global and domestic forces, including federal immigration targets. Forecasters reaffirmed that in the absence of tariffs, they had expected steady economic growth for B.C.

    Members said a diverse export network and a resource-rich environment give B.C. an advantage over other provinces, while some were encouraged by B.C.’s work to date to address housing supply, skills training and affordability challenges.

    “We are in times of significant global uncertainty, and we can expect this instability to continue through the next four years,” said Brenda Bailey, Minister of Finance. “Our approach is to stand up for British Columbians by strengthening our economy, and continuing to diversify our trading network, while supporting the people that need it most. Our Economic Forecast Council has noted that while the uncertainty of threats from the south can make the planning and budgeting process more challenging than typical, with a diverse economy, B.C. remains well-positioned to attract new investment, skilled workers, and development opportunities. While there are challenges ahead, we have everything we need here to thrive.”

    The Economic Forecast Council estimates that real GDP in B.C. grew by 1.2% in 2024, higher than the Province’s projection in the Fall 2024 Economic and Fiscal Update. In early January, the council forecast B.C. real GDP growth of 1.9% in 2025, in line with the ministry’s outlook, and steady economic growth of 2.0% annually on average through 2029. These projections do not fully include the impact of potential U.S. tariffs.

    Economic Forecast Council members will have an opportunity to revise their forecasts before the budget.

    B.C.’s finance minister meets each year with the Economic Forecast Council, whose forecasts and feedback help inform the Province as it prepares the next provincial budget. The budget will be released on March 4, 2025.

    Learn More:

    To access the Fall 2024 Economic and Fiscal Update, visit: https://www2.gov.bc.ca/gov/content/governments/finances/reports/quarterly-reports

    MIL OSI Canada News –

  • MIL-OSI USA: NASA Radar Imagery Reveals Details About Los Angeles-Area Landslides

    Source: NASA

    Analysis of data from NASA radar aboard an airplane shows that the decades-old active landslide area on the Palos Verdes Peninsula has expanded.
    Researchers at NASA’s Jet Propulsion Laboratory in Southern California used data from an airborne radar to measure the movement of the slow-moving landslides on the Palos Verdes Peninsula in Los Angeles County. The analysis determined that, during a four-week period in the fall of 2024, land in the residential area slid toward the ocean by as much as 4 inches (10 centimeters) per week.
    Portions of the peninsula, which juts into the Pacific Ocean just south of the city of Los Angeles, are part of an ancient complex of landslides and has been moving for at least the past six decades, affecting hundreds of buildings in local communities. The motion accelerated, and the active area expanded following record-breaking rainfall in Southern California in 2023 and heavy precipitation in early 2024.
    To create this visualization, the Advanced Rapid Imaging and Analysis (ARIA) team used data from four flights of NASA’s Uninhabited Aerial Vehicle Synthetic Aperture Radar (UAVSAR) that took place between Sept. 18 and Oct. 17. The UAVSAR instrument was mounted to a Gulfstream III jet flown out of NASA’s Armstrong Flight Research Center in Edwards, California, and the four flights were planned to estimate the speed and direction of the landslides in three dimensions.
    In the image above, colors indicate how fast parts of the landslide complex were moving in late September and October, with the darkest reds indicating the highest speeds. The arrows represent the direction of horizontal motion. The white solid lines are the boundaries of the active landslide area as defined in 2007 by the California Geological Survey.
    “In effect, we’re seeing that the footprint of land experiencing significant impacts has expanded, and the speed is more than enough to put human life and infrastructure at risk,” said Alexander Handwerger, the JPL landslide scientist who performed the analysis.
    The insights from the UAVSAR flights were part of a package of analyses by the ARIA team that also used data from ESA’s (the European Space Agency’s) Copernicus Sentinel-1A/B satellites. The analyses were provided to California officials to support the state’s response to the landslides and made available to the public at NASA’s Disaster Mapping Portal.
    Handwerger is also the principal investigator for NASA’s upcoming Landslide Climate Change Experiment, which will use airborne radar to study how extreme wet or dry precipitation patterns influence landslides. The investigation will include flights over coastal slopes spanning the California coastline.
    More About ARIA, UAVSAR
    The ARIA mission is a collaboration between JPL and Caltech, which manages JPL for NASA, to leverage radar and optical remote-sensing, GPS, and seismic observations for science as well as to aid in disaster response. The project investigates the processes and impacts of earthquakes, volcanoes, landslides, fires, subsurface fluid movement, and other natural hazards.
    UAVSAR has flown thousands of radar missions around the world since 2007, studying phenomena such as glaciers and ice sheets, vegetation in ecosystems, and natural hazards like earthquakes, volcanoes, and landslides.
    News Media Contacts
    Andrew Wang / Jane J. LeeJet Propulsion Laboratory, Pasadena, Calif.626-379-6874 / 818-354-0307andrew.wang@jpl.nasa.gov / jane.j.lee@jpl.nasa.gov
    2025-012

    MIL OSI USA News –

  • MIL-OSI USA: DBEDT NEWS RELEASE: $6.3 MILLION RELEASED FOR TOURISM RECOVERY CAMPAIGN

    Source: US State of Hawaii

    DBEDT NEWS RELEASE: $6.3 MILLION RELEASED FOR TOURISM RECOVERY CAMPAIGN

    Posted on Jan 31, 2025 in Latest Department News, Newsroom

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM

    KA ʻOIHANA HOʻOMOHALA PĀʻOIHANA, ʻIMI WAIWAI A HOʻOMĀKAʻIKAʻI

     

    JOSH GREEN, M.D.
    GOVERNOR

    KE KIAʻĀINA

     

    JAMES KUNANE TOKIOKA

    DIRECTOR

    KA LUNA HOʻOKELE

     

    $6.3 MILLION RELEASED FOR TOURISM RECOVERY CAMPAIGN

    FOR IMMEDIATE RELEASE

    January 31, 2025

    HONOLULU — Governor Josh Green, M.D., has released $6.3 million to the Department of Business, Economic Development and Tourism (DBEDT) to support a tourism recovery campaign to address the continued economic impacts from the August 2023 Maui wildfires and the expected downturn due to the January 2025 Southern California wildfires. Governor Green, at the request of DBEDT Director James Kunane Tokioka, has released a restriction from within the DBEDT budget.

    The campaign will be a continuation of the state’s Maui economic recovery efforts and with the current California wildfires, also manage the anticipated impacts to the state’s largest source market for visitors. Governor Green and DBEDT Director Tokioka met with members of the Hawai‘i Hotel Owners and Operators Roundtable and Hawai‘i Hotel Alliance for industry input.

    “I want to acknowledge the leadership of the Hawai‘i Hotel Owners and Operators Roundtable and Hawai‘i Hotel Alliance who discussed this idea with DBEDT Director Tokioka and I to provide resources to support the state’s tourism recovery,” said Governor Green.

    “We are all aware of the sustained effects of the Maui wildfires on our state’s tourism industry and the continued slump in West Maui hotel occupancies,” said DBEDT Director Tokioka. “As we also foresee that visitor arrivals will be impacted by the Los Angeles wildfires, the tourism recovery campaign is intended to drive the visitor traffic needed to sustain local businesses and support jobs. We look forward to working on the next steps with our industry partners.”

    About the Department of Business, Economic Development and Tourism (DBEDT)

    DBEDT is Hawai‘i’s resource center for economic and statistical data, business development opportunities, energy and conservation information, as well as foreign trade advantages. DBEDT’s mission is to achieve a Hawai‘i economy that embraces innovation and is globally competitive, dynamic and productive, providing opportunities for all Hawai‘i’s citizens. Through its attached agencies, the department fosters planned community development, creates affordable workforce housing units in high-quality living environments and promotes innovation-sector job growth.

    # # #

     

     

    Media Contact:

     

    Laci Goshi

    Department of Business, Economic Development and Tourism

    Cell: 808-518-5480

    Email: [email protected]

    MIL OSI USA News –

  • MIL-OSI USA: Lee Introduces the Achieving Choice in Education (ACE) Act

    US Senate News:

    Source: United States Senator for Utah Mike Lee

    WASHINGTON – Sen. Mike Lee (R-UT) has introduced the Achieving Choice in Education (ACE) Act to bolster educational choices for American families. This bill addresses growing concerns among parents about the ideological influences in public education and the economic barriers to alternative schooling options. Senator Ted Budd (R-NC) is a co-sponsor. Rep. Eric Burlison (R-MO) has introduced the legislation in the House of Representatives.

    “It is the fundamental right of parents to choose the educational path that is most suitable for their children,” said Sen. Lee. “The ACE Act ensures that our tax system reflects this principle and provides real support to those seeking alternatives to public schooling.”

    “As a father of three children who were homeschooled, I know that kids benefit from an education that is uniquely suited to their needs,” said Sen. Budd. “I’m proud to cosponsor the ACE Act, which will give more parents the option to choose the education that is best for their children.”

    “Across the country, and especially in Southwest Missouri, school choice is already benefitting many of our nation’s young children.” said Rep. Burlison. “Through 529 education saving accounts, families are freed from the arbitrary link between where they live and which school their child can attend.”

    Sen. Lee’s legislation builds upon a provision of the 2017 Tax Cuts and Jobs Act and enhances federal tax incentives for the enactment of state-level school choice legislation.

    Key provisions of the ACE Act include:

    • Doubling the allowable level of tax-exempt 529 account distributions for qualified educational expenses to $20,000 per taxable year.
    • Gift tax exclusions up to $20,000 per year for contributions to 529 accounts.
    • Adjusted federal tax exemption on municipal bonds based on state school choice laws, incentivizing states to adopt such measures. 

    Under the ACE Act, states with no qualifying school choice laws will see the tax-exempt status of municipal bonds for local projects, such as new school construction, revoked. States that adopt school choice laws will benefit from a 50% tax exemption on bond interest income, while states fully embracing school choice will enjoy a complete tax exemption.

    ENDORSEMENTS

    “American families deserve the best education options available without financial barriers to access them. Expanding school choice provides students with an opportunity to break out of a ‘one-size-fits-all’ education system. The Achieving Choice in Education Act would incentivize states to give more American families the flexibility to educate their children according to their needs and values.” -Heritage Action for America

    “Over the past several years, a growing number of parents have realized that the one-size-fits-all model provided by public schools doesn’t meet their family’s needs – be it because of concerns over quality, safety, or values. American students deserve to find educational options that work for them, and we are grateful that Sen. Lee’s ACE Act will make that path easier for families around the country.” -Parents Defending Education Action

    “A family’s income level shouldn’t determine whether or not a child gets a good education. Instead of having their tax dollars go straight to the public schools, families should be allowed to spend their money on the education system that they’re actually using. The ACE Act uses Congress’s powerful purse strings to encourage states to be more school-choice friendly. It is common sense policy that is good for kids, good for families, and good for the future of America. We are thankful for Sen. Lee’s leadership on this issue.” -Penny Nance, President and CEO of Concerned Women for America Legislative Action Committee

    “On behalf of Association of Christian Schools International, our 2,500 member schools, and the thousands of families who can enjoy high quality, Christian education as a result of school choice, we thank Senator Lee for his leadership in introducing the ACE Act. Over 20 years of research has found that students who exercise school choice have dramatically better educational outcomes. By encouraging school choice at the state level, more students will be empowered to access the education that best suits their needs and be set up for a lifetime of success.” -P. George Tryfiates, Vice President for Public Policy and Legal Affairs, Association of Christian Schools International

    “HSLDA Action supports the ACE act because it will help homeschool families pay for their children’s education. By increasing the contribution limits, and expanding 529s for homeschool use, parents will be able to save more of their own money for educational purposes in a tax advantaged way. This furthers opportunities for homeschoolers and opens the door to enable more parents to educate their children at home.” -Home School Legal Defense Association Action

    “A good education is the foundation of the American Dream. And every child—no matter their background or zip code—deserves the chance to learn and grow in an environment that is steeped in learning and free from radical ideology. Senator Lee’s ACE Act would be a monumental win for parents across the country who want the opportunity and financial freedom to give their kids the education that will set them up for success.” -Tarren Bragdon, President and CEO of the Foundation for Government Accountability.

    For bill text, click HERE.
    For a one-pager, click HERE.

    MIL OSI USA News –

  • MIL-OSI Europe: Highlights – Special Committee on the Housing Crisis in the EU (HOUS) constituted – Special committee on the European Democracy Shield

    Source: European Parliament

    The European Parliament established a Special Committee on the Housing Crisis in the European Union on 18 December 2024. The committee’s primary objective is to propose solutions for decent, sustainable, and affordable housing for all European citizens.
    The Special Committee comprises 33 Members and will operate with a 12-month mandate.

    The constitutive meeting was held on 30 January 2025 in Brussels, where HOUS Members elected Ms Irene TIGNALI (S&D, Italy) as Chair. The following Members were elected as Vice-Chairs, forming the Bureau:

    First Vice-Chair: Mr Dirk GOTINK (EPP, Netherlands)
    Second Vice-Chair: Mr Vicent MARZÀ IBÁÑEZ (Greens, Spain)
    Third Vice-Chair: Mr Ciaran Mullooly (Renew, Ireland)
    Fourth Vice-Chair: Ms Regina Doherty (EPP, Ireland)

    Source : © European Union, 2025 – EP

    MIL OSI Europe News –