Category: Taxation

MIL-OSI USA: Crapo Statement at Hearing on President’s 2025 Trade Policy Agenda

US Senate News:

Source: United States Senator for Idaho Mike Crapo

Washington, D.C.–U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) delivered the following remarks at a hearing entitled, “The President’s 2025 Trade Policy Agenda.”

As prepared for delivery:

“Members and the public have questions and concerns about the recent tariff actions. That’s ok. We should think about tariff impacts and ask questions. Thoughtful and respectful debate on the issues is good and why we call hearings, like this one, with the United States Trade Representative, Ambassador Jamieson Greer.

“We need to think strategically about tariff policy, including how to minimize unnecessary costs on American families. I also recognize that although it is easy to see the costs arising from tariffs, it is far more difficult to assess the cost of denied market access opportunities.

“Tariffs can advance American interests in market access. In the first Trump Administration, we used tariff threats to stop France from imposing discriminatory digital services taxes.

“Tariffs also forced China to discuss the systemic challenges between our two nations. Frankly, every enforcement action—whether it is a WTO dispute, a Section 301 investigation or a preference program review—ultimately relies on the threat of tariffs to secure objectives.

“Accordingly, it is important to contextualize the tariffs in the design of the larger policy. The real headline then becomes the fundamental shift in trade policy since President Trump’s inauguration—where the United States actually plans to do trade again.

“My colleagues and I in Congress want to pursue a real trade policy. That was put on hold during the Biden years. We now have a President who will partner with us in that effort. Together, we will enforce our rights; we will negotiate again; and we will expand opportunities for Americans.

“This Administration is not deliberating endlessly over whether ‘trade can be a force for good,’ like the past Administration. Trade today is the centerpiece of our international economic engagement and we have plenty of substantive trade ideas to discuss.

“Businesses want certainty from good policies that will continue so they can invest confidently in prospects that create jobs and wealth.

“That is one of the primary reasons that I am working so hard to make the Trump Tax Cuts permanent—to provide businesses with the certainty they need to make long-term investments, to drive growth and to increase prosperity across all segments of the economy.

“Contrast this kind of certainty and forward thinking on trade with that of the last four years, where the only ‘certainty’ was that you were going to lose ground because your government fundamentally rejected free markets, free enterprise and free trade.

“The last Administration turned to industrial policy because it was certain that the free market failed in delivering what government planners believed necessary for climate and social agendas.

“Indeed, China’s central planners saw their own strategic thinking in the Inflation Reduction Act’s approach of bestowing massive subsidies to stimulate investments that the market would not.

“We can restore faith in free markets by making it easier than ever to do business in America. The President’s Executive Order last week to assist major investors to navigate our regulatory system efficiently is a good start. We plan to do more.

“The Biden Administration provided us with only the “certainty” that in the face of a foreign government’s discriminatory policies, like digital services taxes, data localization or other non-tariff barriers, it would not stand up for its citizens because it believed that the so-called ‘right to regulate’ trumped the principle of free enterprise.

“Respectfully, democratic governments do not have rights—they exist to secure them for their citizens.

“One immediately welcome change, under the Trump Administration, appeared last week in USTR’s National Trade Estimate.

“Last year, the Biden Administration deliberately cut from the Estimate a number of discriminatory measures imposed by foreign governments on American businesses because it sided with those governments over our citizens. This year’s Estimate is exhaustive because the Administration carefully identified all of the ways Americans lose out in the global marketplace.

“Finally, the validity of free trade will be seen again. The last Administration did not pursue market access in its negotiations. Instead, it demanded governments to undertake a number of social and environmental commitments, even ones Congress did not approve domestically. Not surprisingly, our partners did not put their trust in such negotiations.

“While tariffs inherently may be seen at odds with free trade, we must also acknowledge that many of our trading partners deploy barriers that have gone unchallenged for too long. Free trade, by definition, must be reciprocal. We do not have it if others can impose barriers on us unchallenged.

“Our failure to enforce our rights over the last four years lost a lot of ground for us. This cannot continue because what I am certain about is American goods and services are innovative, high quality and globally competitive.

“Senior Administration officials say that a number of countries are ‘coming to the table’ to engage with USTR. We look forward to hearing about this engagement and the steps toward better opportunities for Americans.”

MIL OSI USA News –

April 9, 2025
MIL-OSI USA: Kaine, Schumer, and Wyden Demand House Vote on Senate-Passed Tariff Legislation Ending Trade War with Canada

US Senate News:

Source: United States Senator for Virginia Tim Kaine

WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA), Democratic Senate Leader Chuck Schumer (D-NY), and Ranking Member of the Senate Finance Committee Ron Wyden (D-OR) sent a letter to House Speaker Mike Johnson demanding that he schedule a vote in the House of Representatives on Senate Joint Resolution 37, legislation led by Kaine to reverse President Trump’s tariffs on Canada, which amount to a 25 percent tax on imported goods. S.J. Res. 37 passed in the Senate last week by a 51-48 vote.

“Plain and simple, the Trump Trade War is a Trump Tax on families, raising their costs by nearly $4,000 per year and devastating small businesses, forcing them to raise prices or lay off staff. It is a dangerous, foolish exercise that is wreaking havoc on the American economy and could tee up a recession,” wrote the senators.

The senators continued, “Now that the Senate has weighed in, members of the House should have the opportunity to vote on whether to continue President Trump’s wrongheaded tariffs on Canada.”

“Canada is the United States’ second largest trading partner and longtime ally,” the senators wrote. “This absurd and dangerous trade war has needlessly fractured the relationship between our two countries, thrown integrated manufacturing supply chains into disarray, and raised costs for American families and small businesses. The Senate has acted. The House should follow and schedule a vote without delay.”

Full text of the letter is available here and below:

Speaker Johnson:

We call on you to move without delay to schedule a vote in the House of Representatives on Senate Joint Resolution 37, which would terminate President Trump’s foolish and misguided trade war with our ally, Canada.

Plain and simple, the Trump Trade War is a Trump Tax on families, raising their costs by nearly $4,000 per year and devastating small businesses, forcing them to raise prices or lay off staff. It is a dangerous, foolish exercise that is wreaking havoc on the American economy and could tee up a recession. If the president doesn’t back off, Congress must take action – the Senate has already taken action to provide relief from tariffs on Canada, and the House should follow immediately.

On February 2, President Trump declared a so-called emergency with regard to the flow of illicit drugs from Canada, despite evidence from Customs and Border Protection (CBP) that less 0.2 percent of fentanyl comes from our northern ally.

This was clearly a pretext to abuse the emergency authorities under the International Emergency Economic Powers Act (IEEPA) to start a trade war with one of our closest allies and biggest trading partners. Situations like this are exactly why Congress created a privileged process to rescind emergencies under IEEPA.

Last week, the Senate exercised this authority and voted on a bipartisan basis to rescind the president’s emergency and end this ridiculous trade war. The House of Representatives already sidestepped this responsibility once in March, taking extraordinary steps to avoid the question of the legitimacy of the president’s declared emergency. Now that the Senate has weighed in, members of the House should have the opportunity to vote on whether to continue President Trump’s wrongheaded tariffs on Canada.

Canada is the United States’ second largest trading partner and longtime ally. This absurd and dangerous trade war has needlessly fractured the relationship between our two countries, thrown integrated manufacturing supply chains into disarray, and raised costs for American families and small businesses.

The Senate has acted. The House should follow and schedule a vote without delay.

Sincerely,

MIL OSI USA News –

April 9, 2025
MIL-OSI USA: McConnell in Wall Street Journal: Executive Order Invites Leftwing Election Takeover

US Senate News:

Source: United States Senator for Kentucky Mitch McConnell

Washington, D.C. – U.S. Senator Mitch McConnell (R-KY) submitted the following op-ed to The Wall Street Journal, printed in today’s edition, on voting and election integrity:

Easier to vote, harder to cheat. That was the pitch the last time Washington passed major updates to the way America votes.

After 2000 saw one of the closest presidential elections in American history, there was a bipartisan appetite to make sure states were equipped to count votes correctly. In 2002, Sen. Chris Dodd (D., Conn.) and I developed a plan to give state election authorities more resources and expert help as they navigated new technologies and reformed voting procedures. When we wrote the Help America Vote Act, we took care to reinforce—not undermine—the limits of federal involvement in America’s elections.

As a result, HAVA and the Election Assistance Commission it created are still on the books today, and thank goodness for that. Challenges to America’s elections aren’t slowing down, they’re speeding up. The Trump administration is right to focus national attention on election-security issues that enjoy wide support, from voter roll maintenance to voter I.D. requirements.

But the way measures like these are implemented matters. And the administration’s executive order on voting and election integrity risks setting them back.

In the near term, Executive Order 14248 will face constitutional scrutiny. That isn’t because the citizenship requirement for participation in elections is unclear but because the delegation of authority over election administration is crystal clear. Elections may have national consequences but the power to conduct them rests in state capitols. No public mandate, real or perceived, lets Washington tamper with this authority, not even for a worthy cause like election integrity.

In the longer term, last month’s executive order carries grave risks. The Trump administration can, and should, support state-led efforts to authenticate voter rolls, train election officials, upgrade voting technologies, and combat voter fraud. But they ought to be careful. Even a targeted federal mandate to strengthen election integrity today could make it easier for a future Democratic president and Congress to use more sweeping mandates to carry out a complete federal takeover of American elections.

In that case, expanding Washington’s role wouldn’t be a side effect, it would be the entire point. This isn’t speculation. We know exactly what Democrats want to do because they’ve tried before.

As it was first introduced in 2019, H.R. 1, the “For the People Act” was designed to gut state laws that upheld widely popular voter-I.D. requirements as well as open the door for rampant fraud with mandates for ballot drop boxes and unlimited ballot harvesting. It would hoover up state authority over redistricting, make it harder to clean inaccurate and duplicate voter registrations from the rolls, give the Internal Revenue Service sweeping new authority to consider political ideology in determining the tax-exempt status of advocacy groups, and turn even-split governance at the Federal Election Commission into a partisan majority.

Over the years, Washington Democrats’ rationale for their federal takeover evolved. Initially, with President Trump’s first election still consuming the Democratic Party’s consciousness, H.R. 1 was sold as an urgent cure for a broken system. After subsequent Democratic victories, the plan was portrayed instead as preventive maintenance.

In each iteration, it was a jaw-dropping affront to states’ authority to administer elections. We mustn’t forget how narrowly America avoided it. Had two Democratic senators not broken ranks with their party, the demise of the Senate’s legislative filibuster and the submission of American elections to the whims of unelected bureaucrats would have come as a package deal.

Unfortunately, reasonable Americans can’t expect that sort of courage the next time a Democratic president and Congress have a chance to tilt the electoral playing field in their favor. The current administration has better ways to spend its time than laying the groundwork for a leftwing election takeover.

Mr. McConnell, a Republican, is a U.S. senator from Kentucky.

MIL OSI USA News –

April 9, 2025
MIL-OSI USA: Monthly Budget Review: March 2025

Source: US Congressional Budget Office

The federal budget deficit totaled $1.3 trillion in the first half of fiscal year 2025, the Congressional Budget Office estimates. That amount is $245 billion more than the deficit recorded during the same period last fiscal year. Revenues increased by $71 billion (or 3 percent), and outlays rose by $317 billion (or 10 percent).

The change in the deficit was influenced by the timing of outlays and revenues, which decreased the deficit during the first six months of fiscal year 2024. Outlays in October 2023 were reduced by shifts in the timing of payments that were due on October 1, 2023, a Sunday. (The payments were made that September.) If not for that shift, the deficit so far this fiscal year would have been $173 billion more than the shortfall at this point last year. Part of the deficit increase in 2025 also arises from the postponement of some tax deadlines from 2023 to 2024, which boosted receipts in 2024.

In January 2025, CBO projected a deficit of $1.9 trillion for fiscal year 2025, the same as the actual deficit for fiscal year 2024.

The statutory debt limit was reinstated on January 2, 2025, and set at $36.1 trillion, matching the amount of total debt that was outstanding on the prior day. On January 21, 2025, the Department of the Treasury announced a “debt issuance suspension period” and began taking “extraordinary measures” to continue financing government operations without breaching the debt limit. In March 2025, CBO estimated that if the debt limit remains unchanged, the government’s ability to borrow using extraordinary measures will probably be exhausted in August or September 2025.

MIL OSI USA News –

April 9, 2025
MIL-OSI Security: Tax preparer indicted for filing false tax returns resulting in tens of thousands in fraudulent claims

Source: Office of United States Attorneys

HOUSTON – A Needville tax preparer has been taken into custody on charges that she willfully helped clients file false tax returns with the IRS, announced U.S. Attorney Nicholas J. Ganjei.

Monica Green is set to make her initial appearance in Houston federal court before U.S. Magistrate Judge Christina A. Bryan at 2 p.m.

A federal grand jury returned the six-count indictment April 2, which was unsealed upon her arrest.

Green ran a tax preparation business in Needville from at least 2017 to 2021, according to the charges. At times during those years, she allegedly added false credits or deductions on tax returns to fraudulently lower her clients’ overall tax liability.

The indictment alleges Green utilized false Schedule A deductions, false Schedule C losses for businesses that did not even exist and false education credits showing expenses for colleges her clients did not attend. The fraudulent amounts claimed on these returns would, at times, exceed tens of thousands of dollars, according to the charges.

Green allegedly earned money from the scheme by charging her clients preparation fees of hundreds of dollars per return.

If convicted, she faces up to three years in prison for each count of aiding in the preparation and filing of false tax returns as well as potential fines of up to $250,000.

IRS Criminal Investigation conducted the investigation. Assistant U.S. Attorney Brad Gray is prosecuting the case.

An indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law.

MIL Security OSI –

April 9, 2025
MIL-OSI Security: Jacksonville Man Pleads Guilty To Wire Fraud Involving A Paycheck Protection Program Loan

Source: Office of United States Attorneys

Jacksonville, Florida – United States Attorney Gregory W. Kehoe announces that Larry E. Denson, Jr. (31, Jacksonville) has pleaded guilty to wire fraud involving COVID relief fraud through the Paycheck Protection Program (PPP). Denson faces a maximum penalty of 30 years in federal prison and payment of restitution to the United State government. Denson has also agreed to forfeit $18,190, the proceeds of the charged criminal offense. A sentencing date has not yet been set.

According to the plea agreement, in April 2021, Denson submitted a PPP loan application to a lender authorized by the Small Business Administration (SBA) to lend funds for approved PPP loan applications. The PPP loan application falsely claimed that Denson operated his own janitorial services business with a gross income of $87,312. Throughout the loan application, Denson made false statements regarding his purported payroll and operating expenses. In support of his PPP loan application, Denson submitted a fraudulent IRS form that contained false statements about expenses and income for his purported business. Upon reliance of the false statements in his PPP loan application and supporting documentation, Denson received a PPP loan for $18,190.

After receiving the PPP loan proceeds into his bank account, Denson began making withdrawals and spending the funds on personal expenses, including meals at restaurants, retail purchases, and cash withdrawals. In July 2022, Denson filed a PPP Loan Forgiveness Application, falsely stating that he had spent the $18,190 on payroll. Relying on his false statements, the SBA forgave the entire loan amount.

This case was investigated by Federal Housing Finance Agency – Office of Inspector General and the Federal Bureau of Investigation. It is being prosecuted by Assistant United States Attorney David B. Mesrobian.

Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

MIL Security OSI –

April 9, 2025
MIL-OSI Security: Federal agents arrest man who allegedly fraudulently received $32 million business tax refund check

Source: Office of United States Attorneys

DAYTON, Ohio – An Atlanta-area man was arrested this morning by IRS Criminal Investigation special agents on federal charges alleging he fraudulently converted two businesses’ IRS accounts to his name and address. The defendant received tax refund checks – including one for more than $32 million – that were to be paid out to these two businesses.

Christopher Dowtin, 48, of Jonesboro, Georgia, will appear in federal court in Atlanta today. He is charged with wire fraud and theft of public money.

According to charging documents, Dowtin fraudulently submitted IRS forms claiming to be the responsible party for two separate companies.

In December 2024, the IRS processed eight Change of Address or Responsible Party-Business forms associated with Dowtin. Dowtin’s requests for changes were completed and accepted. He ultimately received two tax refund checks for those companies: one in the amount of $32,495,888.58 and one in the amount of $26,156.50.

Dowtin allegedly traveled from Georgia to Ohio with the two checks to open an account in the Southern District of Ohio.

On Feb. 13, Dowtin allegedly took the checks to a Morgan Stanley office in Beavercreek, Ohio, and attempted to negotiate the funds into a brokerage account in a trust in his name. The affidavit details that Dowtin told the Morgan Stanley financial advisor that the two companies were paying him for illegally using his “personhood.” He said the payments owed to him had been transferred to him from the IRS. The financial advisor verified that the checks were valid U.S. Treasury checks.

On Feb. 19, an executive director at Morgan Stanley contacted the United States Secret Service and IRS Criminal Investigation regarding the suspicious nature of the checks and Dowtin’s supporting paperwork. The checks were seized by law enforcement.

Wire fraud is a federal crime punishable by up to 20 years in prison. Theft of public funds carries a potential sentence of up to 10 years in prison.

Kelly A. Norris, Acting United States Attorney for the Southern District of Ohio; Karen Wingerd, Special Agent in Charge, IRS Criminal Investigation (IRS-CI); and Yvonne DiCristoforo, Special Agent in Charge, United States Secret Service; announced the arrest and charges. Assistant United States Attorney Amy M. Smith is representing the United States in this case.

A criminal complaint merely contains allegations, and defendants are presumed innocent unless proven guilty in a court of law.

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MIL Security OSI –

April 9, 2025
MIL-OSI USA: Ernst Pushes to Make Trump Tax Cuts Permanent for Small Businesses

US Senate News:

Source: United States Senator Joni Ernst (R-IA)
WASHINGTON – Today, at a joint hearing of the House Committee on Small Business and the Senate Committee on Small Business and Entrepreneurship, Chair Joni Ernst (R-Iowa) delivered opening remarks on why Congress must keep taxes low to unleash prosperity on Main Street.
Ernst detailed how the Trump tax cuts must be made permanent to keep tax relief in place that fueled incredible growth and job creation during President Donald Trump’s first term.
Watch Chair Ernst’s full remarks here.
Ernst’s full remarks:
“Thank you, Chairman Williams. I appreciate your friendship and our ability to work together on behalf of America’s small businesses.
“I am glad that we can hold this joint hearing of our two committees today to examine an issue that impacts every small business in America.
“Eight years ago, working alongside President Trump, Congress passed the most significant simplification of our tax code in decades, the Tax Cuts and Jobs Act of 2017, otherwise known as the TCJA.
“The TCJA provided relief to every American, simplifying and reducing personal income taxes, and expanding important deductions used by small businesses across the country.
“These changes have allowed small businesses to thrive and contributed to the incredible growth we saw under President Trump’s first term, which led to strong real wage growth for workers, the lowest unemployment rate in 50 years, and annual GDP growth that reached 3 percent.
“These tax provisions have also allowed small business owners, including our witnesses today, to grow their businesses and reinvest in their communities and employees.
“But the reality is these gains are in jeopardy if Congress allows the TCJA to expire, and Americans would suffer the largest tax increase in history.
“Small business owners will be hit particularly hard if the TCJA expires, as over 96 percent of small businesses are structured as pass-through entities that benefit from the qualified business income deduction and the general reductions in personal income tax rates.
“The TCJA empowered small business owners to invest in themselves through provisions like bonus depreciation, enhanced business expensing, and the R&D deduction.
“More importantly, the TCJA enabled small businesses to invest more in their employees. I’ve heard from small business owners all over Iowa who used that extra money to provide their workers with health insurance, parental leave, and retirement plans.
“I have also talked to small business owners who hired staff and expanded, but who would have to make hard decisions about who to keep if these cuts were to expire.
“When I talk to Iowans back home the message is clear – they can’t handle a tax hike.
“Workers are also concerned that if employers have to give more of their revenue to Washington, jobs and benefits will have to be cut, on top of the higher taxes they will pay due to individual rate hikes. The consequences are real to workers and their families.
“I also want to address a tax policy issue of particular concern to Iowans.
“The TCJA reduced the death tax, giving families the ability to keep their farms and businesses after a loved one’s passing. This change was particularly important in my state, preventing families from being forced to sell off farms or businesses that have been in theirs for generations.
“The bottom line is that America’s small businesses need the TCJA along with the certainty it provides.
“If we let the TCJA expire now, Americans and small business owners will be forced to shoulder another $4 trillion dollars in new taxes.
“When small businesses grow, the American economy grows.
“I strongly support making the TCJA permanent and will fight to ensure that the interests of small businesses continue to be a priority in this Congress.”

MIL OSI USA News –

April 9, 2025
MIL-OSI USA: VIDEO: Rep. Gabe Vasquez Defends Rural Families and Local Economies in House Agriculture Committee SNAP Hearing

Source: US Representative Gabe Vasquez’s (NM-02)

Vasquez Rejects GOP Plan to Cut $230 Billion from SNAP to Fund Tax Breaks for Billionaires

WASHINGTON, D.C. –Today, U.S. Representative Gabe Vasquez (NM-02) forcefully defended the Supplemental Nutrition Assistance Program (SNAP) during a House Agriculture Committee hearing, warning that Republican efforts to slash $230 billion from the program would devastate rural communities across New Mexico and the country.

WATCH: Vasquez Defends SNAP in House Agriculture Committee

Vasquez represents one of the highest SNAP-participating districts in the nation, where 1 in 4 households rely on the program to feed their families. He highlighted the economic ripple effects of SNAP cuts, noting that in NM-02 alone, 592 grocery stores and food retailers—including 12 local farmers’ markets—depend on SNAP purchases to survive.

“Cutting SNAP by $230 billion in exchange for tax giveaways for the wealthy would do irreparable harm to rural communities and colonias across my district—where one in four households rely on SNAP to feed their families. These are the same folks who grow America’s food, and they deserve better than to be accused of fraud while they’re just trying to survive,” Vasquez said during the hearing.

Vasquez also stressed that Republican proposals to cut SNAP by imposing one-size-fits-all work mandates and shifting costs to states would hit rural communities hardest—where good-paying jobs are scarce and families already face steep barriers to basic services.

Vasquez concluded by reiterating his commitment to passing a bipartisan Farm Bill that protects both producers and consumers and vowed to oppose any reconciliation proposal that guts SNAP while handing tax breaks to the ultra-wealthy.

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MIL OSI USA News –

April 9, 2025
MIL-OSI USA: Bacon, Hurd, Gottheimer, Meeks, Introduce Bill to Restore Congress’ Constitutional Role in Trade
Source: United States House of Representatives – Congressman Don Bacon (2nd District of Nebraska)

WASHINGTON – Rep. Don Bacon (R-NE-02), along with Reps. Jeff Hurd (R-CO-03), Josh Gottheimer (D-NJ-05), and Gregory Meeks (D-NY-05) introduced bipartisan legislation to return Congress’ constitutionally authorized role in setting and approving U.S. trade policy. H.R. 2665 The Trade Review Act of 2025 requires that unilateral tariffs proposed by the executive branch receive congressional authority.

Bacon has publicly stated his support for some tariffs imposed by the Trump Administration while also maintaining that the Constitution gives Congress the task of imposing tariffs under Article I Section 8. This legislation is the companion bill to Senators Chuck Grassley (R-IA) and Maria Cantwell’s (D-WA) legislation, The Trade Review Act of 2025, which mirrors Grassley’s 2019 Section 232 tariff reform efforts as Senate Finance Committee Chairman during the first Trump administration.

“The Constitution clearly gives the authority for taxes and tariffs to Congress, but for too long, we have handed that authority to the executive branch,” said Rep. Bacon. “This is less about the actual tariffs laid by the Trump Administration, some of which I support because they are reciprocal, but more a commitment to uphold the Constitution. Congress has the power of the purse. Our Founders created checks and balances for a reason.”

“As a constitutional conservative, I am proud to co-lead the ‘Trade Review Act of 2025’, reasserting our congressional responsibility in imposing tariffs,” said Rep. Hurd. “Article I, Section 8 of the Constitution is clear: ‘The Congress shall have Power to lay and collect Taxes, Duties, Imposts and Excises.’ This isn’t a political issue for me. I believe Congress must reclaim its constitutionally mandated authority, and I would support this measure regardless of who is in the White House.”

“When people are already struggling with higher costs, we must do everything possible to make their lives more affordable. President Trump’s tariffs are doing just the opposite — raising the cost of nearly everything from coffee to cars and clothing while slashing people’s retirement savings and sending markets plummeting,” said Rep. Gottheimer. “That’s why I’m introducing the bipartisan Trade Review Act with Rep. Bacon to restore Congress’ constitutional authority to oversee foreign trade.”

“For too long, presidents have wielded tariffs as political weapons rather than strategic tools,” said Rep. Meeks. “The Trade Review Act restores constitutional checks and balances by ensuring Congress has a voice before American families are hit with higher costs. If a president wants to raise taxes on the American people through tariffs, they should be required to explain why—and get Congressional approval to do it.”

What is included?

The bill establishes a process for Congressional review of new or increased tariffs (duties) imposed by the President. Specifically, it would:
- Require the President to notify Congress within 48 hours of imposing or increasing a duty on imported goods, including an explanation and an assessment of its impact on U.S. businesses and consumers.
- Limit the duration of such duties to 60 days, unless Congress enacts a joint resolution of approval to extend them.
- Allow Congress to end the duty early by passing a joint resolution of disapproval.
- Exclude antidumping and countervailing duties, which are governed by other statutes.
- Provide expedited procedures in Congress for considering resolutions of approval or disapproval.
Overall, the bill increases Congressional oversight over the executive branch’s ability to unilaterally impose tariffs.

The full text of the bill is available here.

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MIL OSI USA News –
April 9, 2025
MIL-OSI Global: Why tax literacy should be a national priority in Canada

Source: The Conversation – Canada – By Esteban Vallejo Toledo, PhD Student in Law and Society, University of Victoria

The last time Canada’s political parties campaigned during a tax season was more than a decade ago. This year, taxes are a hot topic, and for good reason. Shortly after the federal election was called, the political parties began rolling out promises of tax cuts to win over voters.

At the same time, although Canada’s consumer carbon tax was scapped last month, debates about the industrial carbon tax are likely to continue.

As the election campaign continues and political parties make more tax-related promises, approximately 3,520 tax clinics and 18,090 volunteers are doing their best to help people file their taxes until April 30. Some of the volunteers are struggling to help as many people as possible.

No candidate has talked about a tax issue that is essential for life in free and democratic societies: tax literacy. If Canada is to maintain an informed, financially responsible and democratic society, tax literacy must become part of the national conversation.

A longstanding idea with modern relevance

The notion of tax literacy has been gaining traction in recent years, but it’s far from a new idea.

One of the earliest advocates for tax literacy and education was Charles Montesquieu, a French judge and political philosopher of the Enlightenment.

Portrait of Charles Montesquieu by an anonymous artist.
(Wikimedia Commons)

In his 1748 book The Spirit of Laws, Montesquieu argued for tax literacy and education for two key reasons.

First, he was convinced that knowledge about taxation was necessary to defend oneself against the corruption and abuse that characterized private tax collectors, known at the time as tax farmers.

Second, he believed education in democratic societies could enhance people’s sense of responsibility for public affairs and help hold authorities accountable for their actions. In his view, tax literacy and education were instrumental in how societies organized themselves for the common good.

More than 275 years later, Montesquieu’s argument remains just as relevant.

Tax literacy is neglected in Canada

In Canada, tax literacy continues to be neglected despite efforts by tax agencies like Canada Revenue Agency (CRA) and Revenu Québec to promote it.

There are important reasons to treat tax literacy as a national priority. It helps people understand and navigate federal, provincial and municipal taxes, recognize the social importance of taxation and responsibly exercise their rights. It also allows people to manage their financial affairs according to the law.

Tax literacy is also instrumental in contesting economic populism, a political approach that claims to represent the interests of “ordinary people” against perceived elites, often by oversimplifying complex issues like taxation.

It also helps counter the spread of of disinformation, misinformation and malinformation about taxes in the media, online and on social networks.

Read more:
The Canada Carbon Rebate is still widely misunderstood — here’s why

In Canada, recent examples include misleading claims that Canada has the highest taxes in the world, mischaracterizations of climate tax policies, flawed analyses of the carbon rebate’s cost and other misconceptions about the carbon rebate.

Tax literacy vs. financial literacy

While Canada has done considerable work to further financial literacy since 2001, tax literacy has received far less attention from both authorities and scholars.

In fact, only two peer-reviewed studies have examined tax literacy in Canada. Published in 2016 and 2020, these studies analyze tax literacy within the context of financial literacy and mostly in relation to the income tax.

Similar to financial literacy, the authors of these studies define tax literacy as “having the knowledge, skills and confidence to make responsible tax decisions.”

Canada’s federal and provincial governments, as well as non-profit organizations and tax preparers, tend to use a benefit-based narrative to promote tax literacy and encourage tax compliance.

This narrative frames filing income taxes as positive because it allows people to receive direct payments from the government. In Canada, the income tax system is closely linked to the social support system that benefits everyone, particularly low-income people for whom filing taxes is the primary way to access benefits such as the Canada Child Benefit, the GST/HST Credit and the Canada Workers Benefit.

The missing fiscal dimension

While the benefit-based approach aligns with international standards and has clear advantages, it also has drawbacks.

Most notably, it overlooks the fiscal dimension of tax literacy. This dimension highlights the role taxes play in raising revenue to support government programs, promoting collective well-being, regulating economic activity, addressing social inequalities, strengthening democratic institutions and advancing social goals like environmental protection.

Taxes are far more than mandatory payments to government. Recognizing this enables citizens to actively participate in decision-making processes and hold governments accountable.

Read more:
10 things everyone should know about taxation

The fiscal dimension also broadens public understanding beyond the income tax. On one hand, it helps people interact with tax authorities beyond the CRA, including those administered by provinces, municipalities and First Nations.

On the other hand, it helps citizens better understand public budgets and recognize that while income tax is an important source of revenue, it is not the only one.

The fiscal dimension also challenges harmful narratives that attempt to create social divisions by using the terms “taxpayer” and “taxpayer money.” It also counters the spread of wrongful stereotypes of Indigenous people. These narratives are often used in populist rhetoric to undermine democracy by excluding marginalized groups.

What needs to happen now

Tax literacy must become a national priority in Canada, and public institutions must lead this process. To move in this direction, Canada’s public institutions should:

1) Adopt a holistic approach to tax literacy that includes both the fiscal and financial dimensions.

2) Address misinformation and discrimination experienced by Indigenous people regarding tax exemptions. This is essential to honouring the Truth and Reconciliation Commission’s Calls to Action.

3) Offer long-term partnerships and support to teachers and educational institutions to integrate tax literacy into schools.

4) Lead the production of education resources to ensure a holistic approach. Education resources produced or sponsored by the private sector tend to focus on individual responsibility and frame financial choices in moral terms without considering broader social contexts.

5) Ensure tax literacy initiatives serve not only children and youth but adults as well, in line with UNESCO’s vision of education as a lifelong right.

6) Ensure adult tax literacy resources follow the recommendations of the OECD (Organisation for Economic Co-operation and Development). They should be thorough but easy to understand, offered in multiple formats, concise and supplemented by additional resources. Public authorites should expand podcasts, learning platforms and tax initiatives.

The history of taxes in Canada has been one of important developments but also of social and economic conflicts, wrongful discrimination and colonial racism. It must not also become a history of populism and missed opportunities.

Now is the time for Canada to write a different chapter. By advancing tax literacy, both authorities and society as a whole can strengthen democracy and build a more informed public.

Esteban Vallejo Toledo receives funding from the Law Commission of Canada Emerging Scholars Program. He has previously received funding from SSHRC, LFBC, and UVic.

– ref. Why tax literacy should be a national priority in Canada – https://theconversation.com/why-tax-literacy-should-be-a-national-priority-in-canada-252722

MIL OSI – Global Reports –

April 9, 2025
MIL-OSI Security: United States Attorney Bill Essayli Announces Criminal Task Force to Investigate Fraud and Corruption Involving Homelessness Funds

Source: Office of United States Attorneys

LOS ANGELES – United States Attorney Bill Essayli today announced the formation of the Homelessness Fraud and Corruption Task Force, which will investigate fraud, waste, abuse, and corruption involving funds allocated toward the eradication of homelessness within the seven-county jurisdiction of the Central District of California.

This task force will be comprised of federal prosecutors from the Major Frauds Section, the Public Corruption and Civil Rights Section, and the Civil Division’s Civil Fraud Section of the United States Attorney’s Office for the Central District of California. Assisting the U.S. Attorney’s Office will be the FBI, the United States Department of Housing and Urban Development Office of Inspector General (HUD-OIG), and IRS Criminal Investigation.

The Central District of California is comprised of approximately 20 million residents within the counties of Los Angeles, Orange, Riverside, San Bernardino, San Luis Obispo, Santa Barbara, and Ventura.

Los Angeles County alone contains a homeless population of more than 75,000, of which more than 45,000 are within the city limits of Los Angeles. The total homeless population of the remaining six counties of the district exceeds 20,000.

Despite voter-approved initiatives and billions of dollars spent on tackling this issue, homelessness remains a crisis, especially in Los Angeles County. Last month, a court-ordered audit found that homelessness services provided by the city and county of Los Angeles were “disjointed” and contained “poor data quality and integration” and lacked financial controls to monitor contracts for compliance and performance.

During the COVID-19 pandemic, the federal government sent $100 million in emergency aid to Los Angeles County to address homelessness. Last month, the United States Department of Housing and Urban Development awarded more than $200 million to address homelessness in Los Angeles.

“California has spent more than $24 billion over the past five years to address homelessness,” said United States Attorney Bill Essayli. “But officials have been unable to account for all the expenditures and outcomes, and the homeless crisis has only gotten worse. Taxpayers deserve answers for where and how their hard-earned money has been spent. If state and local officials cannot provide proper oversight and accountability, we will do it for them. If we discover any federal laws were violated, we will make arrests.”

Partnering with federal law enforcement agencies, the Homelessness Fraud and Corruption Task Force will investigate crimes related to the misappropriation of federal tax dollars intended to alleviate homelessness in the Central District of California. The task force will prioritize a review of federal, state, and local programs receiving federal grants and funding. The task force will also investigate fraud schemes involving the theft of private donations intended to provide support and services for the homeless population.

“Any exploitation of the homelessness crisis via the theft of funds intended to improve conditions cannot and will not be tolerated,” said Akil Davis, the Assistant Director in Charge of the FBI’s Los Angeles Field Office. “The FBI is proud to join the newly formed task force and will continue to investigate fraudulent schemes and corrupt officials who misappropriate government funding or private donations intended to aid those in need.”

“The U.S. Housing and Urban Development Office of Inspector General is proud to join the U.S. Attorney’s Office and our federal law enforcement partners as part of the Homeless Fraud and Corruption Task Force,” said Special Agent in Charge Robert Lawler with HUD-OIG. “This collaboration reflects our shared commitment to protecting vulnerable communities, ensuring accountability, and promoting integrity in programs intended to serve those most in need.”

“IRS Criminal Investigation is uniquely poised to track any funds granted through various federal programs,” said Special Agent in Charge Tyler Hatcher of IRS Criminal Investigation in Los Angeles. “We look forward to working with our federal partners to ensure taxpayer and donor funds are spent in accordance with their original intended purposes.”

MIL Security OSI –

April 9, 2025
MIL-OSI United Kingdom: Wales well-placed to benefit from increased spending on defence
Source: United Kingdom – Government Statements
Press release

Wales well-placed to benefit from increased spending on defence

English

Cymraeg

Latest figures show the Ministry of Defence spends £290 for every person in Wales.
Wales Office Minister Dame Nia Griffith at Teledyne Qioptiq.

Wales a key player in the defence industry providing critical technology and innovation

Latest figures show the Ministry of Defence spends £290 for every person in Wales and directly supports over 7,000 jobs

Increased spending on defence recently announced by the Prime Minister boosts national security and drives economic growth

The cutting-edge work being carried out by defence sector firms in Wales has been highlighted on a visit by a UK Government Minister to North Wales.

Wales Office Minister Dame Nia Griffith visited Teledyne Qioptiq Ltd in St Asaph today (Thursday 3rd April).

The firm specialises in advanced electro-optic technology which is integral to a wide range of defence programmes including the Eurofighter Typhoon aircraft and Challenger 2 tanks. The firm also plays a key supporting role for the infantry through the STAS contract.

Wales Office Minister Dame Nia Griffith said:

The defence industry is a cornerstone of our national security and economic prosperity.

All of the Ministry of Defence’s top five suppliers have a footprint in Wales and so we are well placed to benefit from an increase in defence spending.

> “Companies like Qioptic are not only driving innovation but also providing high-quality jobs and contributing significantly to our local and national economy.

The UK Government’s number one mission is kickstarting economic growth. By investing in the defence sector we safeguard our national security, create new jobs and put more money in people’s pockets.

Peter White, Managing Director of Qioptiq said:

It is a privilege to continue to play our part in keeping our troops and society safe.

Wales plays a key role in the UK’s defence industry with over 160 companies employing more than 20,000 people and is well placed to benefit from increased defence spending.

Last month, the Prime Minister made a commitment to increase UK defence spending to 2.5% of GDP from April 2027.

According to the most recent figures the UK Government’s Ministry of Defence spent £914m in 2023-24 with industry and commerce in Wales, an increase from 2022-23 of £86m and directly supported 7,700 jobs in the country.

In the Autumn Budget, the Chancellor committed £975 million over the next five years to the aerospace sector, with £49 million already confirmed for projects in Wales.

While in North Wales, Dame Nia also visited Wagtail UK in Mostyn.

Wagtail is an award-winning company which provides detection dogs and dog trainer handling and supplies bodies including UK Border Force, HM Revenue & Customs, Police, Trading Standards and Armed Forces.

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Published 8 April 2025
MIL OSI United Kingdom –
April 9, 2025

MIL-OSI USA: RGA Right Direction PAC Launches Five-Figure Digital Campaign in Virginia Gubernatorial Race: The Truth About Abigail Spanberger

Source: US Republican Governors Association

The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

WASHINGTON, D.C. – RGA Right Direction PAC today launched a five-figure digital ad campaign and website in the Virginia gubernatorial race exposing the truth about Abigail Spanberger’s failed record in congress.

“Abigail Spanberger spent the last six years in Washington, D.C. blindly following the party line regardless of the consequences and it resulted in years of failure that ruined the economy for hardworking American families,” said RGA Rapid Response Director Kollin Crompton. “Spanberger voted for higher costs, less parental involvement in schools, and less individual freedom at every opportunity she had. Now Spanberger wants to bring that failed agenda to Virginia.”

View the site and video here.

Read more about Spanberger’s failed agenda:

Opposes Securing the Border

Spanberger opposed commonsense immigration policies to keep drugs and criminals out of the United States, and opposes securing the border, and supports localities declaring themselves as sanctuary cities.
Spanberger voted against the Laken Riley Act.
Spanberger voted to allow federal funding for sanctuary cities and she voted to let schools turn their facilities into sanctuaries for illegal immigrants.

Supporting Higher Taxes and Failed Policies that Drove Up the Cost of Living

Spanberger was in lockstep with Joe Biden’s reckless, failed spending agenda that caused the skyrocketing costs Virginia families are still recovering from today.
Even worse, Spanberger opposed the 2017 middle-class tax cuts that gave hardworking American families nearly an extra $2,000 a year. She even said putting money back in Americans’ pockets was “irresponsible.”

Putting Politics Over Children and Parents

Spanberger voted AGAINST the Parents Bill of Rights Act, which empowered parents to have a voice in their kids’ education and provided necessary transparency within school districts.
Spanberger supports allowing dangerous, irreversible gender transition surgery for children.
Spanberger supports schools being able to hide a child’s gender identity from their parents.
Spanberger voted to allow biological men to compete in girls’ sports — putting girls’ safety and fairness at risk.
Abigail Spanberger twice voted against banning military-operated pre-K-12 schools from including pornographic and radical gender ideology books in their libraries.

MIL OSI USA News –

April 9, 2025

MIL-OSI: Bectran Advances Risk Analysis with IRS Based Tax ID Verification System

Source: GlobeNewswire (MIL-OSI)

New Integration Provides Secure, Efficient Validation of Business Tax Identification Numbers

CHICAGO, April 08, 2025 (GLOBE NEWSWIRE) — Bectran, Inc., the industry leader in credit, collections and accounts receivable management technology, today announced a powerful new integration with Cobalt for IRS database verification. This partnership allows businesses to validate Federal Tax Identification Numbers (TINs) directly within the Bectran platform – increasing speed, risk accuracy and fraud prevention in the credit approval and account review process.

“Traditionally, verifying a Tax ID required manual lookups, or waiting on third-party systems that didn’t always return real-time data” said Louis Ifeguni, CEO of Bectran. “This new integration delivers instant, reliable verification at the source – directly from the IRS – helping our customers evaluate business risk with greater consistency and confidence.”

Advanced Tax ID Verification and Automated Precision

TIN and EIN verification is a common requirement in credit applications, but until now the process has often relied on manual checks that can’t confirm accuracy or authenticity. Credit managers frequently encounter risk and inconsistency in credit decisions, but with Bectran and Cobalt’s newest integration, users can leverage a secure and instant verification of tax ID data against official U.S. government records.

Risk Evaluation and Faster Credit Reviews

With this integration, credit managers gain access to comprehensive TIN reporting directly through Bectran’s platform. Each report outlines the specific IRS reason and code with clear explanations, helping managers quickly verify results without leaving their workflow. The system performs exact-match validation, comparing the provided TIN/FEIN and legal business name against IRS records. This approach ensures maximum security and accuracy, as attestation only succeeds when both elements perfectly match the official documentation. Verified TIN data feeds directly into the Bectran risk scoring engine, reducing time-to-decision and removing uncertainty from the approval process.

To further enhance fraud protection, Bectran flags discrepancies between submitted tax information and official records, triggering real-time fraud alerts – all within the same platform.

About Bectran

Bectran is the premier SaaS platform for Finance Departments, akin to CRM for Sales. Trusted by diverse organizations, from SMEs to Fortune 500 companies, we streamline credit processing by over 98%, reducing credit defaults and collection costs. Many businesses rely on Bectran for efficient Accounts Receivable and Collections management, achieving up to 95% cost savings. With rapid onboarding in days, our platform is hailed by credit professionals as the future of credit management. Visit Bectran.com to learn more about financial solutions for your industry.

The MIL Network –

April 9, 2025
MIL-OSI Security: Sixteen Charged in Sweeping Houston-Based Multimillion-Dollar Illegal Gambling and Money Laundering Conspiracy

Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

“Operation Double Down” leads to seizure of over $16 million in currency, accounts, and assets, as well as arrest of illegal aliens

HOUSTON – Several Houston-area residents are now in custody on various charges including conspiracy, operating illegal game rooms, bribery and money laundering in one of the largest ever law enforcement operations in the Southern District of Texas, announced U.S. Attorney Nicholas J. Ganjei.

They are expected to make their initial appearances before U.S. Magistrate Judge Christina Bryan at 2 p.m.

In addition to those indicted in the scheme, authorities also arrested 31 illegal aliens on various immigration and firearms charges during the operation April 2. One of those included an illegal alien who allegedly assaulted a law enforcement officer.

The indictment, returned March 26 and unsealed upon the arrests, alleges Nizar Ali, 61, Richmond, and others allegedly conspired to own, operate or assist in the operation of illegal game rooms. All also conspired to conduct financial transactions to conceal and disguise the nature and source of the proceeds of the illegal gambling business, which totaled more than $22 million, according to the charges.

More than 700 law enforcement officers from 18 agencies served a total of 45 search and 40 seizure warrants at locations throughout Houston and the surrounding area. The locations included 30 illegal game rooms with names such as El Portal and Yellow Building.

During the operation, authorities recovered more than $4.5 million in cash as well as $5 million in property and vehicles, 2000 slot machines, 100 Rolex watches and eight firearms. Law enforcement also seized approximately $6.5 million from bank accounts and other financial institutions pursuant to the court-issued warrants.

In addition to Ali, others taken into custody include Naeem Ali, 33, and Amer Khan, 68, both of Richmond; Ishan Dhuka, 33, and Sahil Karovalia, 32, both of Rosenberg; Sarfarez Maredia, 38, and Shoaib Maredia, 40, both of Sugar Land; Yolanda Figueroa, 40, Pasadena; Viviana Alvarado, 45, LaPorte; and Anabel Eloisa Guevarra, 46, Precela Solis, 27, Maria Delarosa, 53, Claudia Calderon, 37, and Lucia Hernandez, 34, all of Houston.

Two others – Sayed Ali, 59, Richmond, and Stephanie Huerta, 35, Houston – are considered fugitives and warrants remain outstanding for their arrests.

All are charged with conspiracy, operating an illegal gambling business and interstate travel in aid of racketeering which each carry possible prison terms of five years as well as conspiracy to commit money laundering which has a maximum 20-year possible prison term.

Ali is also charged with 32 counts of federal program bribery for allegedly paying more than $500,000 to an undercover officer in an attempt to protect the illicit game rooms from law enforcement intervention. If convicted, he faces up to 10 more years in prison on each count.

With the exception of the money laundering charge which has the possibility of a $500,000 maximum fine or twice the value of the property involved, the remaining counts carry a maximum $250,000 potential fine.

Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) led the investigation along with IRS Criminal Investigation (CI) and the assistance of Houston Police Department (HPD); FBI; High Intensity Drug Trafficking Areas Program; Harris County Constable’s Office – Precinct One; Harris County District Attorney’s Office; Bureau of Alcohol, Tobacco, Firearms and Explosives; and Drug Enforcement Administration. Other agencies providing support include ICE – Enforcement and Removal Operations, Customs and Border Protection, sheriff’s offices in Harris and Montgomery Counties, Houston Fire Department, Texas Attorney General’s Office, Texas Department of Public Safety and police departments in Baytown and Pasadena.

Assistant U.S. Attorneys S. Mark McIntyre, John Marck and Carolyn Ferko are prosecuting the case. Assistant U.S. Attorneys Brandon Fyffe and Tyler Foster are handling the seizure and forfeiture of assets.

An indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law.

MIL Security OSI –

April 9, 2025
MIL-OSI: LocatorX Names Darrell Turner as Chief Operating Officer

Source: GlobeNewswire (MIL-OSI)

ORLANDO, Fla., April 08, 2025 (GLOBE NEWSWIRE) — LocatorX, a trusted leader in secure IoT sensors and supply chain asset visibility, today announced Darrell Turner as Chief Operating Officer. Turner brings more than 35 years of cross-industry leadership experience in healthcare, aerospace, and defense, along with deep expertise in Lean Six Sigma methodologies and strategic operational management to the executive team.

“LocatorX is experiencing tremendous growth in terms of both the scale and the diversity of opportunities that we have the privilege of solving as we deliver transformational value for our customers. Continuing to earn our customer’s confidence requires an unrelenting focus on executing by meeting or exceeding every milestone, every day. Darrell’s proven track record of metrics-based discipline, world-class process improvement techniques, and exceptional team-building skills will position us to confidently scale and grow, unlocking real shareholder value while solving our customers’ most complex challenges,” commented Chester Kennedy, CEO of LocatorX.

Prior to joining LocatorX, Turner served as President of the EMR-PM group at EverHealth, where he led strategy and organizational alignment across a portfolio of healthcare technology solutions, including Electronic Medical Records (EMR), Practice Management Systems (PM), Revenue Cycle Management (RCM), and Chronic Care Management platforms.

He also served as President and COO of CollaborateMD, Inc., where he co-developed a cloud-based medical billing and practice management platform, empowering providers to streamline complex workflows and enhance patient care through real-time analytics and automation.

In addition, Turner spent over two decades at Lockheed Martin’s Training & Simulation division, where he held various engineering and program management roles. He became a Lean Six Sigma Certified Black Belt, driving operational efficiencies across multi-million-dollar defense and aerospace projects with full P&L responsibility.

“I am excited to join LocatorX at a time when asset tracking and visibility across the supply chain is more critical than ever for national security and operational efficiency,” said Turner. “I look forward to working with the team to help scale quickly, optimize performance, and deliver continued value to our customers and partners.”

Added Kennedy, “Darrell’s combination of experience, which includes both starting and growing a highly successful startup and working as a major contributor in a Fortune 50 corporation, will be extremely valuable as we continue to scale this business.”

LocatorX ensures real-time visibility of mission-critical assets and connected insights that drive efficient processes across the supply chain. The company’s patented LX Digital Fingerprint, secure TAA-compliant IoT sensors, and data intelligence platform redefines how aerospace, defense, and government sectors track and manage critical assets. To learn more about LocatorX, visit www.locatorx.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/962a3efc-72a4-4d3b-9b54-b28c56aa6567

The MIL Network –

April 9, 2025
MIL-OSI: Flywire Deepens Collaboration with Ellucian to Deploy Software and Payment Solutions to Banner through Integrations via Ellucian Ethos
Source: GlobeNewswire (MIL-OSI)

BOSTON and ORLANDO, Fla., April 08, 2025 (GLOBE NEWSWIRE) — Today, at the Ellucian Live conference, Flywire Corporation (Nasdaq: FLYW) (Flywire), a global payments enablement and software company, announced newly deployed integrations with Ellucian, a leading provider of software and services built to power higher education. Flywire’s new integration pathway with Ellucian Ethos, Ellucian’s API layer, enables institutions to accelerate their implementations of Flywire’s solutions, and ensures Flywire can be implemented on any Ellucian instance, including Banner and Colleague SaaS. These new achievements build off of Flywire and Ellucian’s award-winning integrations that enhance the student experience, while reducing complexity for institutions.

George Mason University in the United States leveraged Flywire’s Ellucian Ethos integration to successfully deploy Flywire Collection Management software, allowing, among other things, single sign-on access for students directly from their familiar Banner interface. Additionally, Oxford Brookes University will be the first institution to go live with Flywire’s Ellucian Ethos integration for international payments, making Flywire the first Ethos integration in the United Kingdom.

Flywire successfully deploys Banner integration via Ellucian Ethos at George Mason University

George Mason University, a longtime client using Flywire for cross-border tuition payments, leveraged Flywire’s Student Financial Software (SFS) integration via Ellucian Ethos to implement Flywire’s Collection Management solution. This automates the past-due collection process, providing proactive visibility and alerts to prompt student engagement, offering flexible payment plans, and accelerating collection timelines and cash flow. With the Flywire SFS/Ellucian integration, past-due accounts are loaded seamlessly, communications are automated, and students are always able to see their accurate balance, saving significant time and resources for administrative staff. Additionally, for staff, they can manage all workflows related to the student financial journey from their familiar Banner or Colleague platform.

“As a result of the Flywire SFS integration with Ellucian Banner, our students have secure, single sign-on access to our collection management application,” said Bill Cunningham, Director of Student Accounts at George Mason University. “This makes it easier for them to view their past-due balance and take action before it becomes a collection issue. This also reduces the workload for our internal collections team. The project was also one of the smoothest we’ve seen.”

Oxford Brookes University in the U.K. leverages Flywire’s payments integration with Ellucian Ethos & EPS

One of Ellucian’s earliest adopters to integrate a payment solution via Ellucian Ethos & EPS, Oxford Brookes University in the U.K., is leveraging the integration between Flywire and Ellucian Banner to offer a streamlined payment experience with hundreds of payment choices to their students and families directly within their Banner instance, without significant IT investment. Additionally, Flywire helps their students and families easily make and track payments in native currencies, and they get the benefit of seeing and accessing all payment information within their familiar Banner workflow.

“Embedding Flywire’s payment solution into our student information system makes it a natural part of the workflow – for both students and our finance team,” said a representative from Oxford Brookes. “Regardless of where they are in the world, students can easily and securely view charges and make payments. At the same time, reconciliation is fully automated and our systems are updated in real time. That kind of tight integration will drive huge efficiencies for our finance team.”

Building on a longstanding partnership between Flywire and Ellucian

With a singular focus on higher education, Ellucian has been empowering colleges and universities with powerful, enterprise solutions for over 50 years. Now, more than 2,900 higher education institutions across the globe rely on Ellucian for everything from managing business workflows to improving the student experience. This has been the driving force behind the long-standing partnership between Ellucian and Flywire. Thanks to ongoing innovation and collaboration, Flywire has previously been named an Ellucian Partner of the Year for Integration Excellence, recognition that highlights how Flywire’s integrations reduce complexity for institution administrators wanting to offer a streamlined experience with more flexible payment options to students and their families.

Additional benefits of Ellucian/Flywire integrations include:
- Convenient and secure digital payment experience – Flywire’s powerful Global Payment Network allows students to securely pay in 140+ currencies across 240+ countries and territories with hundreds of payment options
- Real-time payment and payment plan updates and automated reconciliation – via seamless data flow between Flywire and Ellucian Banner and Ellucian Colleague systems
- Consolidated payment options – ability to offer a variety of payment options in one place accelerates funds flow, eases reconciliation, and streamlines financial operations
“Our ability to embed intuitive payment capabilities directly into Ellucian’s existing workflows enables schools to optimize the student financial experience, expand payment options, and streamline their backend financial processes,” said David King, Chief Technology Officer at Flywire. “And as one of the first partners to integrate a payment solution via Ellucian Ethos and EPS, Flywire is committed to building off a longstanding relationship to continue to drive technical innovation for global institutions.”

Zach Tussing, Director of Partnerships, Ellucian, added: “The Flywire and Ellucian teams have been working closely together to deliver an improved integration and an innovative customer experience. Flywire’s powerful global payments network and payments software, integrated with Ellucian’s suite of products, will deliver significant improvements for institutions around the world.”

Resources
- To meet with the Flywire team at Ellucian Live:
  - Visit Flywire booth #234
  - Attend Flywire’s “Rethink Payments & Collections with University of South Florida & Texas A&M for Student Success” and “Texas A&M Automates Sponsor Invoicing to Drive Efficiency” sessions
  - See SFS in action during our solution showcase Tuesday, April 8th at 2:55pm ET
- To learn more about Flywire’s partnership with Ellucian: Unifying the student experience with Ellucian and Flywire
- To learn more about Flywire’s Ellucian product integrations: Better Together: Flywire and Ellucian
- To learn more about Flywire’s capabilities for higher ed: Flywire’s education solutions
About Flywire

Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.

Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.

Flywire supports more than 4,500 clients with diverse payment methods in more than 140 currencies across 240 countries and territories around the world. Flywire is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on X (formerly known as Twitter), LinkedIn and Facebook.

About Ellucian

With more than 2,900 customers in over 50 countries, Ellucian delivers technology solutions that drive student success and institutional excellence. For more information visit www.ellucian.com.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire’s expectations regarding the benefits of its education clients and business, Flywire’s business strategy and plans, market growth and trends. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire’s forward-looking statements include, among others, the factors that are described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Flywire’s Annual Report on Form 10-K for the year ended December 31, 2024, which is on file with the Securities and Exchange Commission (SEC) and available on the SEC’s website at https://www.sec.gov/. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Media Contacts:

Sarah King
Media@Flywire.com

Investor Relations Contact
Masha Kahn
ir@flywire.com

The MIL Network –
April 9, 2025

MIL-OSI USA: Republican Governors Thank President Trump for Supporting Senate Amendment to House Budget

Source: US Republican Governors Association

The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

WASHINGTON, D.C. – Today, Republican governors sent a joint letter to President Trump thanking him for his support of the Senate’s amendment to the House Budget Resolution.

The governors wrote in part:

“On behalf of the citizens of our states, we also thank you for the immense amount of work you and your administration have undertaken to reverse the tremendous hardship endured by our citizens due to President Biden’s failed policies. Your promises to reinstitute fiscal sanity, fight against the weaponization of the justice system, secure our borders, and achieve energy dominance are unmatched. As we have all seen, promises made, promises kept.

…

“We are on your side in supporting the Senate amendment to the House budget resolution because we know that failure cannot be an option. The Democrats’ open border policies created a deadly flood of illegal immigrants in all our states. Inflation and punishing energy regulations have siphoned money from the pocketbooks of families. Without an extension of your Tax Cuts and Jobs Act, taxpayers will suffer a multi-trillion-dollar tax hike.

“We believe this budget resolution sets a strong foundation on which to build. It provides congressional Republicans with the tools they need to enact the entire Trump agenda. Again, we thank you for supporting this budget so Congress can start putting pen to paper on the one, big, beautiful bill that will Make America Great Again.”

You can view the full letter here.

Signatories include: Governor Kay Ivey (AL), Governor Mike Dunleavy (AK), Governor Sarah Sanders (AR), Governor Brian Kemp (GA), Governor Brad Little (ID), Governor Mike Braun (IN), Governor Kim Reynolds (IA), Governor Jeff Landry (LA), Governor Tate Reeves (MS), Governor Mike Kehoe (MO), Governor Greg Gianforte (MT), Governor Jim Pillen (NE), Governor Kelly Armstrong (ND), Governor Kevin Stitt (OK), Governor Henry Dargan McMaster (SC), Governor Larry Rhoden (SD), Governor Bill Lee (TN), Governor Greg Abbott (TX), Governor Spencer Cox (UT), Governor Glenn Youngkin (VA), Governor Patrick Morrisey (WV), Governor Mark Gordon (WY).

MIL OSI USA News –

April 9, 2025

MIL-OSI USA: Boyle, Norcross Introduce Bills to Give Tax Breaks to Workers

Source: United States House of Representatives – Congressman Brendan Boyle (13th District of Pennsylvania)

WASHINGTON, DC — Today, Representatives Brendan F. Boyle (D-PA-02) and Donald Norcross (D-NJ-01) announced the introduction of their bills, the Tax Fairness for Workers Act and No Tax Breaks for Union Busting Act. Representative Judy Chu (D-CA) joined the members in leading the introduction of the No Tax Breaks for Union Busting Act.

The Tax Fairness for Workers Act will allow workers to deduct employment expenses such as union dues, travel, and uniform costs, restoring a deduction that was stripped by the 2017 Trump tax law. The No Tax Breaks for Union Busting Act will end the ability for corporations to deduct union busting expenses from their taxes.

“While Republicans continue to push tax breaks for billionaires and big corporations, we are focused on easing the burden on hardworking people and strengthening unions. It’s time for a tax system that works for teachers buying school supplies, workers paying for uniforms, and union members fighting for fair wages,” said Congressman Boyle. “The Tax Fairness for Workers Act and the No Tax Breaks for Union Busting Act are both key steps in restoring fairness and supporting those who build our economy.”

“The No Tax Breaks for Union Busting Act and Tax Fairness for Workers Act both focus on protecting America’s workers,” said Rep. Norcross. “Every worker deserves a free and fair choice to join or form a union, and it’s time that our tax code reflects that. The No Tax Breaks for Union Busting Act will end corporate handouts for union-busting campaigns, make our tax code fairer, and level the playing field for workers. The Tax Fairness for Workers Act will restore fairness and put money back into the pockets of workers who bet on themselves. During a time when the Trump Administration is attacking workers’ rights, I’m honored to have Representatives Brendan Boyle and Judy Chu partner with me in the fight to put more money into the pockets of hardworking Americans.”

“We need policies and a tax code that support American workers and ensure wealthy corporations pay their fair share,” said Rep. Chu. “But in the last few months, this Trump-Musk administration and its corporate allies have waged an all-out assault on worker rights: paralyzing the agencies responsible for enforcing fair labor laws, revoking collective bargaining rights for hundreds of thousands of federal employees, and advancing trillions in tax cuts for corporations – the same ones that spend heavily on anti-union campaigns against their own workers, and then write that off as a business expense. We need to pass our No Tax Breaks for Union Busting Act to finally end the government subsidies for illegal union-busting, as well as the Tax Fairness for Workers Act to once again allow union employees to deduct their dues from their taxes.”

“There’s nothing fair about a tax code that’s loaded with deductions and giveaways for corporate union busters and the super-wealthy while penalizing workers for exercising their right to have a seat at the table,” said AFSCME President Lee Saunders. “At a time when high costs are squeezing working families and the freedom to form a union is under attack, AFSCME thanks Reps. Boyle and Norcross for spearheading commonsense legislation like the Tax Fairness for Workers Act and the No Tax Breaks for Union Busters Act to level the playing field for workers.”

“It is unacceptable for Congress to support anti-worker tax provisions, especially when they’re considering more tax cuts for the wealthy while ignoring the urgent needs of working families. It’s time to give workers their fair share,” said Dan Mauer, Communications Workers of America’s Government Affairs Director. “Our tax code should prioritize workers organizing to have a voice on the job. That is why we wholeheartedly support the No Tax Breaks for Union Busting Act and the Tax Fairness for Workers Act. We commend Representatives Norcross, Boyle, Chu and all those championing a fairer tax system for working families.”

“The Tax Fairness for Workers Act will restore basic fairness to the tax code by allowing hard-working middle-class families to, once again, deduct common employment expenses like safety equipment, tools or the classroom supplies teachers use every day from their federal taxes—just as they could before Trump’s 2017 tax law, and just like the wealthy do now,”said AFT President Randi Weingarten. “It’s a simple, necessary step to right a wrong. This bill would make a noticeable difference to the monthly budget of millions. If a CEO can write off business expenses, workers should be able to do the same.”

“The IAM Union applauds Senator Tina Smith and Representatives Donald Norcross and Brendan Boyle for introducing the Tax Fairness for Workers Act,” said IAM Union International President Brian Bryant. “The GOP’s Tax Cuts and Jobs Act wrongly eliminated workers’ ability to deduct many employment related expenses, such as the cost of union dues, uniforms and tools. The IAM strongly supports the Tax Fairness for Workers Act, which rightly restores these tax deductions for working families.”

“The IAM Union applauds Senator Ben Ray Lujan and Representatives Donald Norcross, Brendan Boyle, and Judy Chu for introducing the No Tax Breaks for Union Busting Act,” said IAM Union International President Brian Bryant. “Union busting, or union avoidance campaigns, have a chilling impact on workers’ ability to exercise their right to freely form and join unions. This legislation would end the taxpayer subsidization of these anti-union, anti-American campaigns.”

The Tax Fairness for Workers Act will allow workers to deduct common employment expenses such as travel, union dues, and uniform costs, restoring a deduction stripped by the 2017 Trump tax law. Workers will be able to deduct business expenses, just as employers can.

Read the full text here.

The No Tax Breaks for Union Busting Act would end taxpayer subsidies for corporations’ anti-union behavior by classifying corporate interference in worker organization campaigns like political speech rather than an “ordinary and necessary” business expense. Additionally, this bill would require corporations to report anti-worker interventions to the IRS and grant the Department of Treasury greater enforcement authority to hold them accountable for using company money to interfere in protected worker activities.

Read the full text here.

###

MIL OSI USA News –

April 9, 2025
MIL-OSI: Beat the April 15 Tax Deadline, But Don’t Leave Money Behind
Source: GlobeNewswire (MIL-OSI)

KANSAS CITY, Mo., April 08, 2025 (GLOBE NEWSWIRE) — With the deadline to file taxes only 7 days away, H&R Block (NYSE: HRB), the company that pioneered the tax prep category 70 years ago, is providing crucial last-minute tips to help taxpayers navigate the final stretch of tax season while ensuring no dollar is left behind. According to IRS data, 2025 filings are slightly lower compared to last year¹, which means millions of taxpayers will be scrambling to meet the April 15th deadline.

“Each year, millions of taxpayers leave billions of dollars behind because they miss valuable deductions and credits they’re entitled to,” said Andy Phillips, Vice President of The Tax Institute at H&R Block. “Filing taxes can be stressful, especially when you’re facing a fast-approaching deadline, but it is important to be thorough and thoughtful when gathering documents and preparing a return because it could be the difference between owing or getting money back.”

H&R Block’s The Tax Institute is a team of tax attorneys, CPAs, and enrolled agents who constantly monitor and analyze federal and state tax code changes to enable the company’s vast network of 60,000 tax professionals and DIY products to address each taxpayer’s unique situation, from life changes to changing tax laws.

Tax Codes That Maximize Your Refund

H&R Block helps over 20 million clients each year get back or keep every dollar they’ve earned. Here are the top recommendations to reduce tax liability and maximize refunds.
- File Even If You Can’t Pay: Many people think if they can’t pay, they shouldn’t file—but that’s a big mistake. The penalty for failing to file on time is ten times the penalty for failing to pay on time. Even if you can’t pay by the due date, you will save money by filing on time.
- Double-Check Your Dependents: Those who support an elderly parent, an adult child, or even a non-relative living in the home, might be able to claim them as a dependent and get extra credits or deductions. Many people assume only young children qualify, but taxpayers should account for all other dependents for possible tax benefits. The child and dependent care credit is another benefit that can help cover a percentage of expenses such as daycare, childcare and summer camp, for a child under 13 years old. This credit can also be available for the costs of caring for a spouse or parent if they cannot care for themselves.
- Don’t Leave Money Behind: The most common missed credits and deductions are:
  - Education Credits: Students and parents often overlook education credits such as the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC).
  - Child Tax Credit (CTC): The Child Tax Credit is up to $2,000 per child under the age of 17, with up to $1,700 being fully refundable even if no taxes are owed.
  - Earned Income Tax Credit (EITC): This credit is designed to benefit low to moderate-income workers. Many eligible taxpayers miss out on this credit because they don’t realize they qualify.
- Consider filing even if you aren’t required to file: Individuals who don’t meet the minimum income threshold often don’t file because they aren’t required to, but they may qualify for certain credits that result in a refund.
- Retirement Plan/IRA Early Withdrawal Penalty: There are now two new exceptions to the 10% penalty on early withdrawals from retirement plans or IRAs for emergency personal expenses and for victims of domestic abuse.
- Natural Disasters: Legislation passed in December allows tax filers to claim losses not reimbursed by insurance without itemizing, meaning they can deduct that loss while still claiming the standard deduction.
- Include All Sources of Income: Everyone—and especially gig workers, side hustlers and online sellers—should pay attention to the new 1099-K rules. Many will receive a 1099-K for the first time, as the reporting threshold for online sales and third-party payment apps has lowered significantly from $20,000 to $5,000.
Because these credits and deductions often go unclaimed, H&R Block offers a free Second Look® tax review to double-check up to three years of tax returns for missed credits or deductions. No other company offers this extensive of a review for free².

Expert Help No Matter How You File

The American tax code contains nearly 10,000 sections with up to 174 pages for each, making filing taxes daunting without professional help. Filers with complex tax situations may benefit from expert assistance. H&R Block offers a range of resources and flexible filing options to help last-minute taxpayers file with confidence and get their maximum refund, guaranteed³.
- Assisted: File in as little as one hour with options to drop off your documents, meet virtually or in-person with one of the 60,000 company tax professionals at one of 9,000 offices. H&R Block has locations in every state and within 5 miles of most Americans many of which have same-day appointments available.
- DIY Online: File on your own with H&R Block’s DIY online filing tools, supported by AI Tax Assist and Live Tax Pro Support. Clients can ask unlimited questions through AI Tax Assist and receive live support, free of charge in all DIY paid editions.
- Tax Pro Review: Filers using H&R Block’s intuitive DIY tax prep service, can add Tax Pro Review any time during the online filing process to have a tax pro review your tax return for any errors or missed opportunities. Once complete the tax pro will sign and file the return on the client’s behalf. This provides extra peace of mind for filers who want the flexibility of preparing their own return and the confidence of an experienced tax pro reviewing their return to ensure accuracy.
- DIY Software: Download our award-winning desktop software trusted by millions of Americans for over twenty years.
“Whether completing your own taxes online or getting expert assistance from one of our tax pros, we are here to help our customers file accurately, confidently and get their maximum refund guaranteed,” said Phillips.

What To Do If You Are Unable to File On Time?

If you are unable to file your taxes by the April 15th deadline, requesting an extension may be a good option. This will give filers until October 15^th, 2025, to file a return, but it’s important to remember that an extension to file is not an extension to pay.

Filers will still need to estimate their tax liability and pay any amount due by April 15th to avoid penalties. Remember that the IRS may have already granted extensions to those affected by natural disasters. Check the IRS website to see if you qualify for automatic relief before requesting an extension.

To learn more about H&R Block’s tax preparation services, many ways to file, and year-round financial support, visit hrblock.com. For media assets, visit hrblock.com/tax-center/newsroom and for helpful tips and information, follow H&R Block on TikTok, Instagram, and Facebook.

_{¹According to the IRS filing season statistics as of 3/28/2025.}
_{²At participating offices. Fees apply to file an amended return. The IRS allows taxpayers to amend returns from the previous three tax years to claim additional refunds to which they are entitled.}
_{³All tax situations are different. Not everyone gets a refund. See hrblock.com/guarantees for complete details.}

Editor’s Note:
For media assets, visit hrblock.com/tax-center/newsroom or a downloadable Tax Season 2025 media kit, visit https://www.hrblock.com/tax-center/media-kit/tax-season-2025/.

About H&R Block
H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with year-round bookkeeping, payroll, advisory, and payment processing solutions. For more information, visit H&R Block News.

The MIL Network –
April 9, 2025

MIL-OSI: AGF Management Limited Reports First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

TORONTO, April 08, 2025 (GLOBE NEWSWIRE) —

Reported quarterly adjusted diluted earnings per share of $0.48
Total assets under management and fee-earning assets of $53.8 billion
Increased quarterly dividend per share to 12.5 cents

AGF Management Limited (AGF or the Company) (TSX: AGF.B) today announced financial results for the first quarter ended February 28, 2025.

AGF reported total assets under management and fee-earning assets¹ of $53.8 billion compared to $53.6 billion as at November 30, 2024 and $45.0 billion as at February 29, 2024.

“In a challenging market environment shaped by political change, we have excelled and continued to deliver on our strategy,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF. “Our long-term approach aims to deliver on our strategic imperatives; while also ensuring we can thrive through changing market cycles and uncertainty.”

AGF’s mutual fund gross sales were $1,568 million for the quarter compared to $993 million in the previous quarter and $914 million in the prior year quarter. Mutual fund net sales were $258 million compared to $5 million in the previous quarter and net redemptions of $125 million in the prior year quarter.

“Recent market volatility has reinforced the importance of providing investors with access to diverse capabilities and offerings,” said Judy Goldring, President and Head of Global Distribution, AGF. “With alternatives playing an increasingly important role in portfolios, this quarter we have focused on further building out our strategies with the launch of products across our lines of business.”

_{¹ Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.}

Key Business Highlights:

In January, AGF Capital Partners, AGF Management Limited’s multi-boutique alternatives business announced the launch of the AGF NHC Tactical Alpha Fund, an absolute return-oriented strategy that aims to generate attractive risk-adjusted returns across market regimes while maintaining low beta to traditional asset classes.
In February, AGF Investments Inc. announced the launch of AGF Enhanced U.S. Income Plus Fund, an alternative mutual fund that seeks to provide long-term capital appreciation and generate a high level of consistent income by investing in U.S. equity securities and employing dynamic options strategies such as put writing and covered call writing.
AGF Investments Inc. was recognized with FundGrade A+® Awards for AGF American Growth Fund, AGF Fixed Income Plus Fund and AGF Global Select Fund.
Taking another important step forward in our ongoing commitment to gender equity, AGF Management Limited announced a new partnership with VersaFi, (formerly Women in Capital Markets). This renowned organization is focused on addressing barriers to women’s advancement, sharing best practices and strategies for progress, and developing actionable policies and industry-leading programs to advance gender diversity in the workplace.

Financial Highlights:

Adjusted EBITDA² for the three months ended February 28, 2025 was $47.9 million, compared to $39.6 million for the three months ended November 30, 2024 and $49.5 million for the comparative prior year period.
Net management, advisory and administration fees² for the three months ended February 28, 2025 was $85.2 million, compared to $83.6 million for the three months ended November 30, 2024 and $74.9 million for the comparative prior year period.
Adjusted revenue from AGF Capital Partners for the three months ended February 28, 2025 was $23.6 million, compared to $18.2 million for the three months ended November 30, 2024 and $24.4 million for the comparative prior year period. The decrease year over year was driven by change in fair value adjustments, offset by the consolidation of KCPL financial results. Revenue from AGF Capital Partners can be variable quarter to quarter and can be impacted by fair value adjustments, timing of monetizations and cash distributions as well as performance fees and carried interest.
Adjusted selling, general and administrative costs² for the three months ended February 28, 2025 was $63.6 million, compared to $66.2 million for the three months ended November 30, 2024 and $53.5 million for the comparative prior year period. The increase in adjusted SG&A from prior year reflects the consolidation of KCPL as well as increases driven by higher performance-based compensation and the market environment.
Adjusted net income attributable to equity owners² for the three months ended February 28, 2025 was $32.1 million ($0.48 adjusted diluted EPS), compared to $29.8 million ($0.45 adjusted diluted EPS) and $33.7 million ($0.51 adjusted diluted EPS) for the comparative prior year period.


	Three months ended
		February 28,			November 30,			February 29,
(in millions of Canadian dollars, except per share data)		2025			2024			2024

Revenues
Management, advisory and administration fees	$	122.8		$	120.2		$	108.6
Trailing commissions and investment advisory fees		(37.6	)		(36.6	)		(33.7	)
Net management, advisory and administration fees²	$	85.2		$	83.6		$	74.9
Deferred sales charges		1.2			1.3			2.0
Adjusted revenue from AGF Capital Partners²		23.6			18.2			24.4
Other revenue²		1.5			2.7			1.7
Total adjusted net revenue²		111.5			105.8			103.0

Selling, general and administrative		67.8			70.2			57.9
Adjusted selling, general and administrative²		63.6			66.2			53.5

EBITDA²		44.2			36.9			45.1
Adjusted EBITDA²		47.9			39.6			49.5

Net income – equity owners of the Company		30.9			28.7			30.5
Adjusted net income – equity owners of the Company²		32.1			29.8			33.7

Diluted earnings per share		0.46			0.43			0.46

Adjusted diluted earnings per share²		0.48			0.45			0.51

Free cash flow²		31.6			21.4			21.2

Dividends per share		0.115			0.115			0.110


(end of period)	Three months ended
		February 28,		November 30,		February 29,
(in millions of Canadian dollars)		2025		2024		2024

Mutual fund assets under management (AUM)³	$	31,167	$	30,662	$	26,186
ETFs and SMA AUM		2,913		2,537		1,676
Segregated accounts and sub-advisory AUM		6,529		6,977		7,162
Total AGF Investments AUM		40,609		40,176		35,024
AGF Private Wealth AUM		8,623		8,567		7,836
AGF Capital Partners AUM		2,468		2,752		48
Total AUM	$	51,700	$	51,495	$	42,908
AGF Capital Partners fee-earning assets⁴		2,142		2,111		2,104
Total AUM and fee-earning assets⁴	$	53,842	$	53,606	$	45,012

Net mutual fund sales (redemptions)³		258		5		(125	)
Average daily mutual fund AUM³		30,853		29,173		25,197

_{² Net management, advisory and administration fees, adjusted revenue from AGF Capital Partners, total net revenue, adjusted selling, general and administrative, EBITDA, adjusted EBITDA, adjusted net income, adjusted diluted earnings per share and free cash flow are not standardized measures prescribed by IFRS. The Company utilizes non-IFRS measures to assess our overall performance and facilitate a comparison of quarterly and full-year results from period to period. They allow us to assess our investment management business without the impact of non-operational items. These non-IFRS measures may not be comparable with similar measures presented by other companies. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in the Management’s Discussion and Analysis available at www.agf.com.}
_{³ Mutual fund AUM includes retail AUM and institutional client AUM invested in customized series offered within mutual funds.}
_{⁴ Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.}

For further information and detailed financial statements for the first quarter ended February 28, 2025, including Management’s Discussion and Analysis, which contains discussions of non-IFRS measures, please refer to AGF’s website at www.agf.com under ‘About AGF’ and ‘Investor Relations’ and at www.sedarplus.com.

Conference Call

AGF will host a conference call to review its earnings results today at 11 a.m. ET.

The live audio webcast with supporting materials will be available in the Investor Relations section of AGF’s website at www.agf.com or at https://edge.media-server.com/mmc/p/4ch7jtxw. Alternatively, the call can be accessed over the phone by registering here or in the Investor Relations section of AGF’s website at www.agf.com, to receive the dial-in numbers and unique PIN.

A complete archive of this discussion along with supporting materials will be available at the same webcast address within 24 hours of the end of the conference call.

About AGF Management Limited

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

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

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

About AGF Investments

AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs. AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.

About AGF Capital Partners

AGF Capital Partners is AGF’s multi-boutique alternatives business with diverse capabilities across both private assets and alternative strategies. Clients benefit from the specialized investment expertise of Affiliate Managers¹ combined with the organizational support and breadth of resources of AGF Management Limited (AGF). With over 18 years average experience, AGF Capital Partners Affiliate Managers including, Kensington Capital Partners Limited, New Holland Capital, LLC and AGF SAF Private Credit, manage approximately C$13.8 billion* in alternative AUM and fee earning assets on behalf of institutional and retail clients. Affiliate Manager AUM may not be consolidated into AGF Management Limited’s reported AUM.

*US AUM converted FX rate at February 28, 2025 (1.44)

The term ‘Affiliate Manager’ refers to any partner regardless of relationship structures or revenue sharing agreements. The form of AGF’s structured partnership interests in Affiliate Managers differs from Affiliate Manager to Affiliate Manager. The structure of the relationship with a particular Affiliate Manager, or the revenue that AGF agrees to share in, may change. Affiliate Managers only provide investment advisory services or offer products in the jurisdiction where such firm, individuals and/or product is registered or authorized to provide such services.

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

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

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

Caution Regarding Forward-Looking Statements

This press release includes forward-looking statements about the Company, including its business operations, strategy and expected financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects,’ ‘estimates,’ ‘anticipates,’ ‘intends,’ ‘plans,’ ‘believes’ or negative versions thereof and similar expressions, or future or conditional verbs such as ‘may,’ ‘will,’ ‘should,’ ‘would’ and ‘could.’ In addition, any statement that may be made concerning future financial performance (including income, revenues, earnings or growth rates), ongoing business strategies or prospects, fund performance, and possible future action on our part, is also a forward-looking statement. Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, business prospects, business performance and opportunities. While we consider these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about our operations, economic factors and the financial services industry generally. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements made by us due to, but not limited to, important risk factors such as level of assets under our management, volume of sales and redemptions of our investment products, performance of our investment funds and of our investment managers and advisors, client-driven asset allocation decisions, pipeline, competitive fee levels for investment management products and administration, and competitive dealer compensation levels and cost efficiency in our investment management operations, as well as general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, technological changes, cybersecurity, the possible effects of war or terrorist activities, outbreaks of disease or illness that affect local, national or international economies, natural disasters and disruptions to public infrastructure, such as transportation, communications, power or water supply or other catastrophic events, and our ability to complete strategic transactions and integrate acquisitions, and attract and retain key personnel. We caution that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Other than specifically required by applicable laws, we are under no obligation (and expressly disclaim any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. For a more complete discussion of the risk factors that may impact actual results, please refer to the ‘Risk Factors and Management of Risk’ section of the 2024 Annual MD&A.

FundGrade A+® Awards:

FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.

AGF American Growth Fund won in the U.S. Equity CIFSC Category, out of 237 funds. The FundGrade A+ start date was 12/31/2014 and the FundGrade A+ end date was 12/31/2024.

AGF Global Select Fund won in the Global Equity CIFSC Category, out of 306 funds. The FundGrade A+ start date was 12/31/2014 and the FundGrade A+ end date was 12/31/2024.

AGF Fixed Income Plus Fund won in the Canadian Fixed Income CIFSC Category, out of 137 funds. The FundGrade A+ start date was 12/31/2014 and the FundGrade A+ end date was 12/31/2024.

The MIL Network –

April 8, 2025

MIL-OSI Australia: Call for witnesses – Aggravated assault – Alice Springs

Source: Northern Territory Police and Fire Services

The Northern Territory Police Force is calling for witnesses in relation to a serious aggravated assault that occurred in Alice Springs in the early hours of this morning.

Around 10:45am today, police received reports of blood being found on the pavement outside an office building on Bagot Street in The Gap.

Upon review of CCTV, police observed at 4:45am this morning a male offender allegedly stabbed a female victim with an unknown object, before physically assaulting her multiple times. The victim was allegedly dragged from the area by the offender towards Tuncks Road.

Investigations have commenced and police hold concerns for the welfare of the victim.

The offender is described as being shirtless, wearing black shorts, black shoes and a light-coloured hat. The victim is described as wearing a light-coloured long-sleeved jumper, light-coloured pants, light-coloured shoes, with her hair tied up in a bun or ponytail.

Police are particularly interested in speaking to the drivers of multiple vehicles that drove past on Bagot Street and South Terrace at the time of the alleged assault.

Anyone with information is urged to call police on 131 444 and quote reference NTP2500036419. Anonymous reports can also be made through Crime Stoppers on 1800 333 000 or via https://crimestoppersnt.com.au/.

If you or someone you know are experiencing difficulties due to domestic violence, support services are available, including, but not limited to, 1800RESPECT (1800737732) or Lifeline 131 114. In an emergency dial 000.

MIL OSI News –

April 8, 2025
MIL-OSI Europe: Highlights – The Role of Simple Tax Rules and Tax Fragmentation in European Competitiveness – Subcommittee on Tax Matters

Source: European Parliament

On 24 April 2025, from 09:00 to 09:30, the FISC Subcommittee will hold its first consideration of the own-initiative draft report entitled “The Role of Simple Tax Rules and Tax Fragmentation in European Competitiveness.” This initial discussion will centre on the critical importance of simplifying the EU tax landscape to alleviate regulatory and administrative burdens, particularly for small and medium-sized enterprises (SMEs).

Simplification, digitalisation, and stronger cooperation among Member States are essential to reducing compliance costs, facilitating cross-border business activity, and effectively addressing tax avoidance and evasion.

The Rapporteur, MEP Hadjipantela, together with the shadow rapporteurs, will discuss his initial draft report and consider concrete measures to support the Commission’s objective of reducing reporting obligations by 25%–and by at least 35% for SMEs. The discussion will underscore the need to prioritise simplification, digitalisation, and strengthened cooperation among Member States to build a fairer and more competitive tax environment. Advancing digital tools and harnessing artificial intelligence in tax administration will be discussed as key to reducing fragmentation and complexity, and to improving transparency.

MIL OSI Europe News –

April 8, 2025
MIL-OSI: DevvDigital and Delubac & Cie Announce Strategic Partnership to Bridge the Gap Between Traditional Finance and DeFi
Source: GlobeNewswire (MIL-OSI)

Revolutionary collaboration brings safety, compliance, and institutional-grade access to the digital asset space.

PARIS, April 08, 2025 (GLOBE NEWSWIRE) — In a landmark announcement made today at Paris Blockchain Week, DevvDigital and Banque Delubac & Cie have unveiled a strategic partnership set to reshape the future of finance. The collaboration marks a critical turning point for the digital asset ecosystem, unlocking new, compliant pathways for traditional financial institutions to participate in the world of decentralized finance (DeFi) with confidence and security.

The partnership combines DevvDigital’s breakthrough technology platform, DevvExchange, with Delubac’s regulated banking infrastructure to create a new model of “Crypto Without Chaos.” This integrated solution offers institutions the safety, regulatory compliance and control they require, while delivering the speed, innovation, and access to yield opportunities inherent in DeFi.

“For too long, DeFi has been out of reach for most of the financial world due to issues with volatility, security, and compliance,” said Ray Quintana – CEO DevvDigital. “Together with Delubac, we’ve created a pathway that allows banks, asset managers, and other institutions to safely engage with digital assets and DeFi products for the first time — with zero counterparty risk, private key protection, theft protection, and real-time settlement.”

A New Financial Infrastructure for the Digital Age

DevvExchange offers a non-custodial exchange platform with instant settlement, theft protection, private key loss protections, and privacy-preserving mechanisms that remain fully compliant with regulatory requirements. The platform’s Liquidity Caches — an evolution of traditional liquidity pools — allow institutional participants to deploy capital for exchange, lending, and yield-generating strategies without transferring assets into vulnerable smart contracts. This enables:
- Legally compliant yield opportunities with known origin of funds
- Tax-advantaged implementations that avoid unnecessary asset transfers
- Unprecedented protection against the problems rife in the crypto space such as private key loss, theft from hacks, and even in protection against platform bankruptcies
- True privacy aligned with global regulatory frameworks
“The future of finance goes beyond simply deciding between TradFi and DeFi — it’s a secure and seamless fusion of the two.” said Paul Bureau, Head of Cryptoassets at Delubac & Cie. “The DeFi space is filled with incredible innovations and opportunities, but it is not safe nor regulatory compliant. For the first time, with Delubac’s and DevvDigital’s efforts, we can combine the innovation of DeFi with the trust and security of TradFi. A world-changing concept.”

About DevvDigital
DevvDigital is a technology leader in secure blockchain infrastructure, offering groundbreaking non-custodial solutions for digital asset exchange, lending, and ownership. Its flagship platform, DevvExchange, delivers instant settlement, institutional-grade security, and privacy-focused compliance.

About Banque Delubac & Cie
Founded in 1924, Banque Delubac & Cie is one of the last 100% French family-owned institutions, recognized for its innovation and regulatory rigor. Delubac is the 1st French bank to have been registered as a Digital Assets Service Provider (DASP) and is at the forefront of integrating blockchain-based solutions with traditional banking infrastructure. Its tagline “Expert & Independent” reflects its DNA of freedom, uniqueness and pugnacity for a tailor-made service. Its tradition: daring for its customers.

Media Contact:

DevvDigital
marketing@devvdigital.com
www.devv.exchange

Delubac & Cie
relationspresse@delubac.fr
PR agency: Louise-Marie GUINET & Laëtitia CHABOT +33 1 46 34 60 60 – delubac@wellcom.fr

Disclaimer: This press release is provided by DevvDigital. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4cc2f35b-02e5-4bba-9e58-3a198064c8f0

The MIL Network –
April 8, 2025
MIL-OSI: Zadara Sponsors World Champion Robotics Team ORBIT 1690 in the 2025 Global Finals

Source: GlobeNewswire (MIL-OSI)

IRVINE, Calif., April 08, 2025 (GLOBE NEWSWIRE) — Zadara, the sovereign AI edge cloud leader, today announced that it is proud to support Israel’s own ORBIT 1690 as it prepares to compete at the FIRST^® Championship to be held in Houston, Texas, April 16-19, 2025. Physical AI is a key pillar of the next wave of Artificial Intelligence, with robotics at its core. Zadara invests in the future of robotics and intelligent systems, starting with the innovators of tomorrow. ORBIT 1690 secured first place in the 2024 FIRST Robotics World Championship.

Founded in 2005, ORBIT 1690 has risen to become one of the world’s top 10 robotics teams. Every season begins with a new global challenge, and the team has just six weeks to design, build, and program a competitive robot—relying on teamwork, innovation, and relentless dedication. ORBIT 1690 has competed in 12 Israeli regionals, 2 regionals in the United States, 6 Israel District Championships, and has competed in the World Championship 10 times, with 2 Einstein Finals appearances.

Zadara’s sponsorship of ORBIT 1690 helps fund the team’s robotics development, travel, and global competition participation, empowering students with hands-on experience in building the intelligent systems of the future.

“Robots change, spirit remains” – ORBIT 1690’s motto perfectly captures its drive to adapt, lead, and inspire. “As a sovereign AI edge cloud provider, we see robotics as a natural and critical frontier for AI,” said Ofir Amir, Cloud Group Manager and Architect at Zadara. “ORBIT 1690 is not only building robots – it is building the next generation of thinkers and doers who will define how AI interacts with the real world.”

Follow ORBIT 1690:
1690orbit.com
teamorbit1690@gmail.com
Watch the robot in action

About Zadara

Zadara (https://www.zadara.com/) is a leading provider of sovereign AI edge clouds offering a revolutionary distributed cloud platform that simplifies operational complexity and enables seamless multi-tenancy through automated end-to-end provisioning of compute, storage, and networking.

With over 500 edge cloud locations worldwide and with the ability to deploy a cloud in any location, Zadara’s clouds are uniquely positioned to meet the unique demands of various cloud-based use cases, including sovereign cloud and AI inference at the edge for service providers and the modern enterprise. Zadara clouds are AWS compatible and feature consumption-based pricing with zero data egress fees.

Zadara’s fully-managed clouds are designed to accommodate any workload, anywhere – whether on-premises, hybrid, multi-cloud or at the edge. Zadara operates worldwide with a highly skilled team that provides 24/7 follow-the-sun support and services. Zadara is headquartered in Irvine, California.

Media Contacts:
Joanne Hogue
Smart Connections PR for Zadara
joanne@smartconnectionspr.com
+1 (410) 658-8246

The MIL Network –

April 8, 2025
MIL-OSI New Zealand: Release: David Parker to step down from Parliament

Source: New Zealand Labour Party

Long-serving Labour MP and former Minister David Parker has today announced his intention to leave Parliament.

“It has been a privilege to be elected by the people of New Zealand to represent their interests in Parliament for the last 23 years,” David Parker said.

“I have served to the best of my ability as Attorney General and Minister of Trade, Revenue, Economic Development, Associate Finance, Climate Change, Energy, Environment, State Services, Transport and Land Information.

“In Opposition my roles have included Finance, Foreign Affairs, Treaty Settlements, Conservation and Deputy Leader.

“I leave enthusiastic for New Zealand and for the New Zealand Labour Party. I want to thank my Parliamentary colleagues and wish them well for the hard work ahead.

“I was a serial entrepreneur before coming to Parliament and have been an agent for change while here. I will return to the private sector and continue building a prosperous and egalitarian nation,” David Parker said.

David Parker will deliver a valedictory speech in early May. A date will be confirmed once agreed with the Business Committee.

Stay in the loop by signing up to our mailing list and following us on Facebook, Instagram, and X.

MIL OSI New Zealand News –

April 8, 2025
MIL-OSI USA: VIDEO: Peters Takes to Senate Floor to Oppose President Trump’s Tariffs

US Senate News:

Source: United States Senator for Michigan Gary Peters

Published: 04.07.2025

Peters Lays Out How Trump’s “National Sales Tax” Will Raise Prices for Hardworking Families, Decimate Americans’ Retirement Savings, and Threaten American Jobs and Businesses

WASHINGTON, DC – U.S. Senator Gary Peters (MI) took to the Senate floor to speak out against President Trump’s latest tariffs on nearly all U.S. imports, calling them a “national sales tax” on hardworking Americans. In his remarks, Peters highlighted the harm that Trump’s tariffs will cause for American families and businesses, including driving our economy toward a recession, raising prices on essential goods, and threatening Americans’ hard-earned income and retirement savings. He also highlighted how the tariffs fall short of a needed strategy to boost American manufacturing in the automotive sector, offering an alternative playbook that includes tariffs on our adversaries and overseas competitors, improving current trade agreements, enforcing existing trade laws, and protecting and strengthening successful domestic manufacturing incentives passed as part of the Inflation Reduction Act.

“In the coming days, weeks, and months, the impact of the President’s national sales tax will be devastating,” said Senator Peters. “And it won’t be our competitors that are footing the bill. It will be the American people that are paying the tax on their groceries, their gas, and all the other goods that they buy.”

“This national sales tax won’t miraculously improve our trade relationships or bring jobs home. It will only make it harder for hardworking Americans who are trying to create a better life for themselves and for their children,” Peters continued. “This isn’t a real plan. This is chaos. And it will not help us to achieve any of our long-term goals.”

“I urge all of my colleagues to say no to the national sales tax, and instead, let’s liberate some common sense and work together to make this country stronger.”

To watch Peters’ full remarks, click here.

MIL OSI USA News –

April 8, 2025
MIL-OSI Security: New Haven Man Sentenced to Federal Prison for Role in Catalytic Converter Theft Ring

Source: Office of United States Attorneys

Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that MERVIN FIGUEROA, 27, of New Haven, was sentenced today by U.S. District Judge Sarala V. Nagala in Hartford to 14 months of imprisonment, followed by three years of supervised release, for offenses related to his participation in a stolen catalytic converter trafficking ring.

According to court documents and statements made in court, law enforcement has been investigating the theft of catalytic converters from motor vehicles across Connecticut. A catalytic converter contains precious metals, can easily be removed from its vehicle, and is difficult to trace, making it a desirable target for thieves. The average scrap price for catalytic converters currently varies between $300 and $1,500, depending on the model and type of precious metal component.

The investigation revealed that Alexander Kolitsas owned and operated Downpipe Depot & Recycling LLC (“Downpipe Depot”), which had a warehouse on Park Avenue in East Hartford. Kolitsas and Downpipe Depot purchased stolen catalytic converters from a network of thieves, including Figueroa, and then transported and sold the catalytic converters to recycling businesses in New York and New Jersey. Kolitsas instructed his suppliers on the types of converters that would obtain the most profit upon resale, and he would often meet with them and transact business at his home in Wolcott late at night or behind a family member’s restaurant in Middlebury after hours.

Starting in January 2022, Kolitsas maintained electronic invoices reflecting the purchase of stolen catalytic converters from Figueroa and other suppliers. In several of the invoices, Kolitsas permitted his suppliers to use fictitious names or business names in order to create the appearance of proper recordkeeping while obscuring from his records the true source of the stolen converters. The invoices show that between approximately January 26 and May 31, 2022, Kolitsas and Downpipe Depot paid approximately $3,345,675 to purchase stolen converters from his co-conspirators.

The invoices reflect that Downpipe Depot paid Figueroa $169,840 for catalytic converters, including converters that were stolen in two separate incidents from vehicles at U-Haul Moving and Storage in Naugatuck. In messages between Kolitsas and Figueroa, Kolitsas told Figueroa that he needed to remove anti-theft tags that U-Haul had placed on the converters before Kolitsas would take them. The investigation revealed that Figueroa also stole converters from school buses.

Figueroa was arrested on November 15, 2023. On October 29, 2024, he pleaded guilty to one count of conspiracy to commit interstate transportation of stolen property and one count of interstate transportation of stolen property.

Figueroa, who is released on a $50,000 bond, is required to report to prison on June 2.

Kolitsas pleaded guilty to related charges and awaits sentencing.

This investigation is being led by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), the Internal Revenue Service – Criminal Investigation Division (IRS-CI), and the East Hartford Police Department. The case is being prosecuted by Assistant U.S. Attorneys Lauren C. Clark and A. Reed Durham through the Organized Crime Drug Enforcement Task Forces (OCDETF) Program. OCDETF identifies, disrupts, and dismantles drug traffickers, money launderers, gangs, and transnational criminal organizations through a prosecutor-led and intelligence-driven approach that leverages the strengths of federal, state, and local law enforcement agencies. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

MIL Security OSI –

April 8, 2025
MIL-OSI Security: Fox Island, Washington, man indicted for stealing more than $920,000 from an elderly financial advisory client

Source: Office of United States Attorneys

The former financial advisor took advantage of his client’s trust to steal her life savings and inheritance

Seattle – A 56-year-old Fox Island, Washington man was indicted late last month by a federal grand jury for four counts of wire fraud, two counts of mail fraud, four counts of money laundering, and four counts of making and subscribing a false tax return, announced Acting U.S. Attorney Teal Luthy Miller. John S. Winslow, a former financial advisor at a national financial services firm, allegedly stole over $920,000 in life savings and inheritance from a former client, a widow in her 70’s.

“Mr. Winslow took advantage of the victim’s trust to steal from her bank and brokerage accounts,” said Acting U.S. Attorney Miller. “He used the victim’s funds to upgrade his lifestyle – buying an island home, installing a hot tub and new appliances, and purchasing a new car and a diamond necklace.”

According to the indictment, Winslow moved funds out of the victim’s brokerage accounts with the financial services firm and into her outside bank account in multiple transactions. He did this to conceal his fraud by placing the victim’s funds outside of the firm’s surveillance system. From the victim’s outside bank account, the funds were transferred into Winslow’s bank accounts, again in multiple transactions. Winslow used his trusted status with the victim to further the fraud. He visited the victim at her home and instructed the victim to call the bank and put the call on speaker. He then told the victim what she should tell the bank. Winslow used the victim’s funds for his own benefit. He falsely claimed to the victim that if she transferred money to him, he would repay her at a higher interest rate than what she was getting from her banks.

To hide the illicit nature of the funds, Winslow allegedly funneled the victim’s funds through extra layers of transactions. For example, Winslow purchased gold coins from an online gold retailer in multiple transactions. He then sold those gold coins to a local brick-and-mortal gold retailer before depositing the proceeds into his bank accounts.

During the fraud-scheme period, Winslow allegedly failed to report the funds that he stole from the victim on his federal tax returns, resulting in a tax loss of approximately $254,000.

Winslow was arraigned on the indictment and entered a ‘not guilty’ plea on March 31, 2025. Trial in front of U.S. District Judge Tiffany M. Cartwright is scheduled for June 2, 2025.

The wire fraud, mail fraud, and money laundering counts are representative acts of the alleged scheme and are punishable by up to 20 years in prison. The false-tax-return counts are punishable by up to 3 years in prison.

The charges in the indictment are only allegations. A person is presumed innocent unless and until he or she is proven guilty beyond a reasonable doubt in a court of law.

The case is being investigated by the Internal Revenue Service – Criminal Investigation (IRS-CI). The case is being prosecuted by Assistant United States Attorney Yunah Chung.

MIL Security OSI –

April 8, 2025

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