Category: Taxation

  • MIL-OSI USA: Governor Newsom announces appointments 9.20.24

    Source: US State of California 2

    Sep 20, 2024

    SACRAMENTO – Governor Gavin Newsom today announced the following appointments:

    Katherine “Katie” Butler, of Los Angeles, has been appointed Director of the California Department of Toxic Substances Control. Butler has served as Deputy Director of the Hazardous Waste Management Program at the Department of Toxic Substances Control since 2023. She served as Senior Health Deputy in the Office of Los Angeles County Supervisor Janice Hahn from 2021 to 2023. She was a Program Supervisor at the Los Angeles County Department of Public Health from 2015 to 2021. Butler was a Senior Health Scientist at McDaniel Lambert Inc. from 2008 to 2014. Butler earned a Master of Public Health degree in Environmental Epidemiology from the University of Michigan and a Bachelor of Science degree in Environmental Studies from the University of Notre Dame. This position requires Senate confirmation and the compensation is $211,239. Butler is registered without party preference.

    Myriam Bouaziz, of Fairfield, has been appointed Director of the Office of Tax Appeals, where she has served as Chief Deputy Director since 2020 and was Deputy Director of Legislation from 2018 to 2020. Bouaziz was a Consultant in the Office of California State Senate President pro Tempore Kevin de León from 2017 to 2018. She was a Consultant for the California State Senate from 2014 to 2017 and Senior Legislative Assistant in the Office of California State Assemblymember Roger Dickinson from 2011 to 2014. Bouaziz was Access Specialist at the San Francisco Mayor’s Office on Disability from 2009 to 2011. She was a Case Manager at the Marin Child Care Council from 2007 to 2008. Bouaziz earned a Juris Doctor degree from the University of California College of the Law, San Francisco and a Bachelor of Arts degree in Political Science from the University of California, Los Angeles. This position requires Senate confirmation and the compensation is $226,092. Bouaziz is a Democrat.

    Holly Holtzen, of Santa Rosa, has been appointed Administrator of the Veterans Home of California, Yountville. Holtzen has been Interim Program Manager, Financial Resiliency at AARP since 2024. She was State Director of AARP from 2019 to 2024. Holtzen held several positions at the Ohio Housing Finance Agency from 2009 to 2019, including Acting Executive Director from 2018 to 2019, Chief Operating Officer from 2017 to 2019, Director of Research and Strategic Planning from 2012 to 2017 and Strategic Research Coordinator from 2009 to 2012. She earned a Doctor of Philosophy degree in Health Services Research from Old Dominion University, a Master of Public Administration degree from Troy University and a Bachelor of Arts degree in Business Administration from Saint Leo University. This position does not require Senate confirmation and the compensation is $175,512. Holtzen is registered without party preference. 

    Samantha Arthur, of Sacramento, has been appointed Deputy Secretary of Water at the California Natural Resources Agency. Arthur has been Assistant Secretary for Salton Sea Policy at the California Natural Resources Agency since 2023. She held several positions at Audubon California from 2014 to 2023, including Working Lands Program Director from 2019 to 2023, Conservation Project Director from 2016 to 2019 and Conservation Project Manager from 2014 to 2016. Arthur was a Land Protection Specialist with Big Sur Land Trust from 2010 to 2012. She was a member of the California Water Commission from 2020 to 2023. Arthur earned a Master of Environmental Science and Management degree from the University of California, Santa Barbara and a Bachelor of Arts degree in Biology and Environmental Studies from Whitman College. This position does not require Senate confirmation and the compensation is $181,596. Arthur is a Democrat.

    Todd Ratshin, of Elk Grove, has been appointed Deputy Secretary for Enforcement at the California Labor and Workforce Development Agency. Ratshin has been Chief Board Counsel at the California Agricultural Labor Relations Board since 2017 and was Senior Board Counsel there from 2016 to 2017. Ratshin was a Labor Relations Counsel at the California Department of Human Resources from 2015 to 2016. He was an Associate at Littler Mendelson P.C. from 2011 to 2015. Ratshin was a Labor Relations Counsel at the California Department of Personnel Administration from 2008 to 201l. He was an Associate at the Zumbrunn Law Firm from 2006 to 2008. Ratshin earned a Juris Doctor degree from the University of the Pacific, McGeorge School of Law and a Bachelor of Arts degree in History from the University of Oregon. This position does not require Senate confirmation and the compensation is $206,700. Ratshin is registered without party preference. 

    Karen Greene Ross, of Sacramento, has been appointed to the Commission on State Mandates. Greene Ross was Chief of Staff to California State Controller Betty T. Yee from 2015 to 2022. She was Assistant Chief Counsel at the California High-Speed Rail Authority from 2012 to 2014, where she was Deputy Director of Legislation from 2011 to 2012. Greene Ross served as a Deputy Controller at the State Controller’s Office from 2005 to 2007. She was Deputy Secretary for Legislation at the California Business, Transportation and Housing Agency from 2001 to 2003. Greene Ross was Principal Legislative Policy Consultant in the Office of State Senator Adam Schiff from 1999 to 2000 and Principal Policy Consultant in the Office of Assembly Speaker Emeritus Cruz Bustamante in 1998. She was a Committee Consultant in the California State Assembly from 1994 to 1997. Greene Ross earned a Juris Doctor degree from Loyola Law School and a Bachelor of Science degree in Finance from the University of Florida. This position requires Senate confirmation and the compensation is $100 per diem. Greene Ross is a Democrat.

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    MIL OSI USA News

  • MIL-OSI: Signing Day Sports Identifies Synergies from Acquisition of Swifty Global, Expected to Drive Accelerated Revenue Growth, Cost Savings, and Global Expansion

    Source: GlobeNewswire (MIL-OSI)

    SCOTTSDALE, Arizona, Sept. 23, 2024 (GLOBE NEWSWIRE) — Signing Day Sports, Inc. (“Signing Day Sports” or the “Company”) (NYSE American: SGN), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today provided an update regarding its financial position and its plans to acquire Dear Cashmere Group Holding Company (OTC:DRCR), doing business as Swifty Global (“Swifty”), highlighting the strategic and financial synergies that are expected to drive accelerated growth and operational efficiency for both companies.

    Extinguishment of Convertible Notes

    As of September 23, 2024, the outstanding convertible senior secured promissory notes of the Company, with an original balance of more than $0.6 million, had been fully extinguished, primarily from conversion into shares of common stock.

    The improved financial position strengthens the Company’s prospects for growth and future capital raising.

    Key Highlights from the Acquisition

    As previously announced, Signing Day Sports entered into a binding term sheet to acquire 95-99% of the issued and outstanding shares of Swifty, a global online sports and casino technologies company. Swifty is debt-free with a proven track record of growth, revenue generation and profitability. The acquisition is expected to significantly enhance Signing Day Sports’ revenue generation, technical capabilities and profitability from the expansion of both companies.

    • Strong Financial Performance: Swifty achieved revenues of over $128 million and a net profit of approximately $2.44 million for the fiscal year ended December 31, 2023, despite significant investments of nearly $3.1 million in software development and licensing.
    • Global Expansion: Swifty is expanding internationally. Swifty recently acquired licenses to offer a full integrated suite of products in Ireland and South Africa, which are expected to have significant online sports and casino markets with limited competition.
    • Fast Development of Revenue Generating Technology: Swifty plans to offer data feed services for the online sports gambling industry in the near future. Swifty has determined that data feed services are expensive and limited in choice, which creates an opportunity for Swifty, and that many sports, like boxing, have limited or no live data feed available to allow real-time betting. The Signing Day Sports team has significant experience working with critical sports datapoints and creating sports measurement technologies, which could assist Swifty in developing this revenue stream.

    Strategic Synergies

    The integration of Swifty is expected to bring several operational advantages and new revenue opportunities for Signing Day Sports:

    • Cost Efficiency: Swifty’s in-house engineering team is expected to reduce Signing Day Sports’ operating costs by over 50%, enabling the company to reinvest those savings into growth initiatives. It is also expected to increase the speed at which Signing Day Sports can roll out new products and technological enhancements to its current offering and optimize monetization of the product and user base.
    • Revenue Growth in SaaS: At their core, both Signing Day Sports and Swifty are SaaS model businesses. Swifty’s scalability, technological resources, and technology initiatives are expected to bolster the growth of Signing Day Sports’ app user base, enhance user retention and provide additional opportunities to monetize renewing subscribers with additional revenue streams.
    • New Revenue Streams: Swifty is expected to further expand Signing Day Sports’ current product offering while also broadening the Company’s exposure to new sports and athletes outside the U.S. Signing Day Sports has accumulated more than 10,000 registered users, which it plans to increase at an accelerated rate in the fourth quarter of 2024 and 2025. The Company’s focus is to develop new strategic revenue streams, and improve revenue metrics per user, with the same aim of fully monetizing this growing user base.
    • New Market Exposure: Since its beginning as a football student-athlete recruitment platform provider, Signing Day Sports has expanded its platform to support baseball, softball, and men’s and women’s soccer. Swifty is expected to bring exposure to new markets in Europe, Africa and the Middle East, as well as exposure to emerging sports without established recruitment models. The Company anticipates that early adopters in these emerging sports markets are a significant market and plans to broaden its platform to capitalize on these prospective revenue streams.
    • Enhanced User Engagement: Swifty’s team is expected to introduce exciting new features to Signing Day Sports, including gamification elements such as live scoreboards, top competitor leaderboards, fantasy leagues and real-time performance tracking, which are designed to boost engagement, organic user acquisition and user retention.

    “With Swifty expected to join the Signing Day Sports family, we anticipate being better positioned than ever to deliver an enhanced user experience while accelerating our expansion into new markets,” said Daniel Nelson, CEO of Signing Day Sports. “This acquisition represents a pivotal moment in our growth journey, and we are confident in the significant value it will bring to our platform, collaborators, student-athletes, and stockholders.”

    James Gibbons, CEO of Swifty, added, “Swifty is excited to bring our technological capabilities and global reach to the Signing Day Sports platform. Together, we will create new opportunities for student-athletes and coaches worldwide while driving operational efficiencies that will further our mutual goals. We look forward to working with Signing Day Sports as we scale into new markets and continue to innovate for the benefit of our users.”

    For further information about Signing Day Sports and Swifty, please see their communication channels listed below:

    Website: https://swifty.global
    X: @swiftyglobal
    Telegram: @swiftyglobal
    Email: hello@swifty.global

    Website: https://signingdaysports.com
    Ecommerce Website: https://signingdayshop.com
    Investor Relations Website: https://ir.signingdaysports.com
    X: @sdsports
    Email: support@signingdaysports.com

    Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, including without limitation, the Company’s ability to complete the acquisition of Swifty and integrate its business, the ability of the Company, the sellers and Swifty to enter into definitive stock purchase agreement(s), obtain all necessary consents and approvals in connection with the acquisition, obtain NYSE American clearance of a new initial listing application in connection with the acquisition, obtain shareholder approval of the matters to be voted on at the shareholders’ meeting described in the press release, obtain sufficient funding to maintain operations and develop additional services and offerings, market acceptance of the Company’s current products and services and planned offerings, competition from existing online and retail offerings or new offerings that may emerge, impacts from strategic changes to the Company’s business on its net sales, revenues, income from continuing operations, or other results of operations, the Company’s ability to attract new users and customers, increase the rate of subscription renewals, and slow the rate of user attrition, the Company’s ability to retain or obtain intellectual property rights, the Company’s ability to adequately support future growth, the Company’s ability to comply with user data privacy laws and other current or anticipated legal requirements, and the Company’s ability to attract and retain key personnel to manage its business effectively. These risks, uncertainties and other factors are described more fully in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. These risks, uncertainties and other factors are, in some cases, beyond our control and could materially affect results. If one or more of these risks, uncertainties or other factors become applicable, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

    Investor Contact:
    Crescendo Communications, LLC
    212-671-1020
    SGN@crescendo-ir.com

    The MIL Network

  • MIL-OSI: Employ Inc. Appoints Joey Humke as Chief Revenue Officer

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Sept. 23, 2024 (GLOBE NEWSWIRE) — Employ Inc., a leading provider of people-first recruiting and talent acquisition solutions including JazzHRLeverJobvite and NXTThing RPO, today announced the appointment of Joey Humke as Chief Revenue Officer effective today.

    In this role, Humke will oversee and optimize Employ’s revenue strategies, operations and growth initiatives. He will work closely with cross-functional teams and existing leadership to align revenue and marketing initiatives with the overall vision and business objectives to maximize revenue potential, reach current and new customers and drive Employ’s value proposition. As a member of the Employ executive leadership team, Humke will report to Employ CEO Steve Cox.

    Humke is a seasoned executive with a history of scaling teams efficiently to exceed expectations. Humke has spent more than a decade leading and overseeing revenue operations at PE-backed SaaS businesses, strategically guiding teams through transformations, integrations, mergers and acquisitions. His experience, coupled with an active approach, ensures his teams are supported and primed for continued success.

    Most recently, Humke served as CRO and Operating Partner at Newbury Franklin, a PE firm focusing on niche markets. Prior to that, he served in various leadership roles at Exclaimer, Marigold and Emma.

    “We are thrilled to welcome Joey to Employ,” said Steve Cox, CEO of Employ. “Joey will be instrumental in helping us identify new market opportunities and build stronger relationships with clients and partners. His passion, expertise and successful track record in developing, scaling and leading strong revenue teams will be vital to advance Employ into its next chapter.”

    Joey Humke, Chief Revenue Officer, Employ Inc., said, “Employ plays a pivotal role in today’s hiring environment. Very few talent acquisition solution providers can match the level of service and experience that its people and solutions offer. I am eager to join an organization that always has the best interest of its customers in mind, and I look forward to being a part of the Employ team.”

    To learn more about Employ Inc. and its people-first talent acquisition solutions, visit www.employinc.com.

    About Employ Inc:
    Employ Inc. provides people-first recruiting solutions that empower companies to overcome their greatest hiring challenges. Serving SMBs to global enterprises, Employ focuses on the unique recruiting needs of each organization — from foundational hiring to sophisticated talent acquisition. Employ is the only organization to offer companies choice in their hiring solutions, providing a curated set of recruiting technologies and services. Together, Employ and its solutions (JazzHR, Lever, Jobvite and NXTThing RPO) serve more than 22,000 customers across multiple industries. For more information, visit www.employinc.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1717a7da-dcc0-4c04-ac05-b6de007b59f1

    The MIL Network

  • MIL-OSI: Wearable Devices Announces First Half 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    YOKNE’AM ILLIT, Israel, Sept. 23, 2024 (GLOBE NEWSWIRE) — Wearable Devices Ltd.  (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a technology growth company specializing in artificial intelligence (“AI”)-powered touchless sensing wearables, today announced its financial results for the six months ended June 30, 2024.

    First Half 2024 Financial Results and Recent Company Highlights:

    • Recognized initial revenue from the sale of business-to-consumer (B2C) focused Mudra Band for Apple Watch and business-to-business (B2B) collaborations, totaling $394 thousand.

    Mudra Band:

    • Enhanced product proposition for flagship product: We have introduced two major new features for our Mudra Band: touchless gesture control for Apple Watch, allowing users to manage tasks hands-free, and integration with ChatGPT, enabling users to interact with AI directly via predefined gestures and voice commands on their Apple Watch. These innovations enhance convenience, accessibility, and AI-powered functionality for on-the-go multitasking.
    • Announced new innovative and disruptive product- the Mudra Link: Currently receiving preorders for Mudra Link, the first AI neural interface wristband for Android and beyond, providing advanced neural input technology for Android users. Official launch expected in the first quarter of 2025.
    • Expanded market potential with range of new supported devices: Now supports the Apple Vision Pro, in addition to other Apple devices including Mac, iPad, Apple TV and iPhone, allowing Apple users to extend their gesture control experience.

    Global B2B collaborations:

    • Signed an agreement with Qualcomm Technologies (“Qualcomm”) to collaborate in elevating extended reality (“XR”) experiences with Mudra neural technology and successfully completed the first phase of integration of Mudra technology with Qualcomm’s Snapdragon Spaces XR developer platform.
    • Fortune 500 consumer electronics corporation has purchased a special license for a state-of-the-art Mudra Development Kit (“MDK”) to evaluate certain deep-level capabilities of the MDK for developing next-generation user interfaces.
    • Announced successful demonstrations of the Mudra technology on Lenovo’s ThinkReality XR headset, at the Augmented World Expo (AWE) 2024.
    • Signed reseller agreement to enhance licensing program presence in South Korea and China.
    • Strengthened presence in the defense sector and delivered custom touchless technology to global defense company as part of an ongoing collaboration.

    In the first half of 2024, Wearable Devices continued recognizing revenue from the sale of Mudra Band for Apple Watch, the Company’s flagship B2C product, which began shipping towards the end of 2023. Revenues for the six months ended June 30, 2024 were $394 thousand, increasing from approximately $12 thousand compared to the six months ended June 30, 2023. Net loss increased to $4.2 million, or $(0.21) per basic and diluted share, in the six months ended June 30, 2024, compared to net loss of $3.9 million, or $(0.26) per basic and diluted share, for the six months ended June 30, 2023, primarily related to an increase in the Company’s operating expenses associated with its continued efforts to scale its business activity.

    Asher Dahan, Chairman of the Board and Chief Executive Officer of Wearable Devices, commented, “In the first half of 2024, we increased the delivery of our flagship B2C product, the Mudra Band for Apple Watch. After an extended preorder period during which the Mudra Band generated strong customer interest, we began shipping the product towards the end of 2023 and are pleased to have reached this important milestone.

    Subsequent to the close of the first half of 2024, we announced the launch of our new Mudra Link wristband, bringing our state-of-the-art neural input Mudra technology to a broader range of operating system platforms, including iOS, Android, Windows, and macOS. This has been a major initiative for our business, and the logical next step in our growth trajectory. With preorders now open and an official launch planned for the first half of 2025, we expect the Mudra Link to significantly expand our addressable market as we tap into the large and expanding population of Android, Windows, and macOS users.

    We continue to invest in our business, as reflected in the modest increases in research and development, sales and marketing, and general and administrative expenses in the period. We’re still in the early stages of growth in the broader wearables industry, and Wearable Devices is well positioned to be a leader in the space given our patented AI-based neural input interface technology.”

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbols “WLDS” and “WLDSW”, respectively.

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss our growth trajectory; the launch of the Mudra Link and its benefits and advantages, including significant potential increase in the Company’s total available market; future investment in our business; and our position as a leader in the space of wearable devices. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    IMS Investor Relations
    203.972.9200
    wearabledevices@imsinvestorrelations.com

         
    INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)    
    U.S. dollars (in thousands)          
               
        June 30,   December 31,  
        2024   2023  
    ASSETS          
               
    CURRENT ASSETS:          
               
    Cash and cash equivalents   3,103   810  
    Short-term bank deposits   57   4,045  
    Account receivable   47    
    Governmental grant receivable   7   108  
    Other receivables and prepaid expenses   306   757  
    Inventories   1,218   1,032  
               
    TOTAL CURRENT ASSETS   4,738   6,752  
               
    NON-CURRENT ASSETS:          
               
    Long-term bank deposits     54  
    Right-of-use assets   458   592  
    Property and equipment, net   176   194  
               
    TOTAL NON-CURRENT ASSETS   634   840  
               
    TOTAL ASSETS   5,372   7,592  
               
               
    INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)          
    U.S. dollars (in thousands)          
               
        June 30,   December 31,  
        2024   2023  
    LIABILITIES AND SHAREHOLDERS’ EQUITY          
               
    CURRENT LIABILITIES:          
    Accounts payables   175   410  
    Advance payments   101   312  
    Accrued payroll and other employment related accruals   641   579  
    Convertible promissory note   1,934    
    Accrued expenses   386   190  
    Lease liabilities   296   297  
    TOTAL CURRENT LIABILITIES   3,533   1,788  
    Lease liabilities   144   278  
    TOTAL LIABILITIES   3,677   2,066  
               
    SHAREHOLDERS’ EQUITY          
    Ordinary shares, NIS 0.01 par value:   58   57  
    Authorized 50,000,000 as of June 30, 2024 and December 31, 2023; issued and outstanding 20,887,428 shares as of June 30, 2024 and 20,387,428 shares as of December 31, 2023  
    Additional paid-in capital   27,070   26,692  
    Accumulated losses   (25,433)   (21,223)  
               
    TOTAL SHAREHOLDERS’ EQUITY   1,695   5,526  
               
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   5,372   7,592  
               
    INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)          
    U.S. dollars (in thousands)          
               
        Six months ended
    June 30,
    2024
        Six months
    ended
    June 30,
    2023 
               
         U.S. dollars
    in thousands
        (except per share amounts)
               
    Revenues   394     12
    Expenses:          
    Cost of revenues   (315)     (3)
    Research and development, net   (1,616)     (1,560)
    Sales and marketing expenses   (1,083)     (1,050)
    General and administrative expenses   (1,601)     (1,453)
    OPERATING LOSS   (4,221)     (4,054)
    FINANCING INCOME, NET   11     158
               
    NET LOSS AND TOTAL COMPREHENSIVE LOSS   (4,210)     (3,896)
               
    Net loss per ordinary share, basic and diluted   (0.21)     (0.26)
               
    Weighted average number of ordinary shares outstanding basic and diluted   20,392,984     15,254,457
               
                 
    INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
    U.S. dollars (in thousands)
               
                   
        Six months ended  
    June 30,
        2024     2023  
    CASH FLOWS FROM OPERATING ACTIVITIES:            
    Net loss   (4,210)     (3,896)  
                 
    Adjustments required to reconcile net loss to net cash used in operating activities              
                 
    Depreciation   54     23  
    Accrued interest on deposits   39     *(19)  
    Interest expenses on convertible promissory note   14      
    Share based compensation expenses   112     109  
    Unrealized gain from foreign currency derivative activities   61      
                 
    Changes in operating assets and liabilities items:            
    Increase in inventory   (186)     (6)  
    Increase in accounts receivables   (47)      
    Decrease (increase) in governmental grants receivables   101     (29)  
    Decrease (increase) in other receivables and prepaid expenses   380     (95)  
    (Decrease) increase in advance payments   (211)     20  
    Decrease in deferred revenues       (12)  
    Decrease in accounts payable   (236)     (44)  
    Increase in accrued payroll and other employment related accruals   62     163  
    Increase in accrued expenses   206     48  
    Net cash used in operating activities   (3,861)     (3,738)  
                 
    CASH FLOWS FROM INVESTING ACTIVITIES:            
    Purchase of property and equipment   (36)     (93)  
    Proceeds (investments) associated with deposits, net   4,003     *(2,036)  
    Net cash (used in) provided by investing activities   3,967     (2,129)  
                 
    CASH FLOWS FROM FINANCING ACTIVITIES:            
    Proceeds from issuance of convertible promissory note   1,920      
    Proceeds from issuance of ordinary shares as a result of exercise of warrants       1,448  
    Proceeds from issuance of ordinary shares associated with the SEPA   267        
    Net cash provided by financing activities   2,187     1,448  
                 
    NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS   2,293     (4,419)  
    CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD   810     10,373  
    CASH AND CASH EQUIVALENTS AT END OF PERIOD   3,103     5,954  
         
    SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
    Interest received from deposits 110       159  
    Right-of-use asset recognized against lease liability       446  
                   
                   
    *Reclassified              

    The MIL Network

  • MIL-OSI Security: Indictment Charges Two in $230 Million Cryptocurrency Scam

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

                WASHINGTON – An indictment was unsealed today charging Malone Lam, 20, of Miami, FL and Los Angeles, CA, and Jeandiel Serrano, 21, of Los Angeles, CA, with conspiracy to steal and launder over $230 million in cryptocurrency from a victim in Washington, D.C.  Lam, a citizen of Singapore who goes by the online monikers “Anne Hathaway” and “$$$”, and Serrano, who uses “VersaceGod” and “@SkidStar”, were arrested last night and are appearing in U.S. District Court for the Southern District of Florida and the Central District of California, respectively, today.

                The arrests and indictment were announced by U.S. Attorney Matthew M. Graves, FBI Acting Special Agent in Charge David Geist of the Washington Field Office’s Criminal and Cyber Division, and Executive Special Agent in Charge Kareem A. Carter of the Internal Revenue Service – Criminal Investigation (IRS-CI) Washington, D.C. Field Office.

                According in the indictment, since at least August 2024, Lam, Serrano, and others conspired to carry out cryptocurrency thefts and to launder the stolen crypto currency through exchanges and mixing services. The conspirators would fraudulently gain access to victim cryptocurrency accounts and then transfer victim funds into their possession. They laundered the proceeds, including by moving the funds through various mixers and exchanges using “peel chains,” pass-through wallets, and virtual private networks (VPNs) to mask their true identities.  Lam and Serrano then allegedly spent the laundered cryptocurrency proceeds on international travel, nightclubs, luxury automobiles, watches, jewelry, designer handbags, and rental homes in Los Angeles and Miami. In one instance, on August 18, 2024, Lam, Serrano, and their conspirators contacted a victim in D.C. and, through the communications with that victim, fraudulently obtained over 4,100 Bitcoin (worth over $230 million at the time).

                This ongoing investigation is being handled by the U.S. Attorney’s Office for the District of Columbia, the FBI’s Washington Field Office, and the IRS-Criminal Investigation Washington Field Office.  Significant investigative and operational support was provided by the FBI’s Los Angeles and Miami Field Offices.

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

    ###

    24cr417

    MIL Security OSI

  • MIL-OSI Security: Defense News: USNS Lucy Stone Christened as MSC’s Newest Fleet Replenishment Oiler

    Source: United States Navy

    SAN DIEGO — The fleet replenishment oiler USNS Lucy Stone (T-AO 209), the Military Sealift Command’s newest ship, was christened during a ceremony at the General Dynamics NASSCO shipyard in San Diego, Calif., today.

    The event was attended by Secretary of the Navy, Carlos Del Toro; Meredith Berger, Assistant Secretary of the Navy for Energy, Installations and Environment; Vice Adm. John F. G. Wade, commander, U.S. THIRD Fleet; Vice Adm. Jeffrey Jablon, Deputy Chief of Naval Operations for Installations and Logistics; Rear Adm. Thomas J. Anderson, Program Executive Officer, Ships; Capt. Micah Murphy, commander, Military Sealift Command Pacific; U.S. Merchant Marine Capt. Lee Apsley, Stone’s civil service master; as well as executives and employees of NASSCO San Diego.

    The ship honors American suffragist Lucy Stone, who joined other notable advocates such as Elizabeth Cady Stanton, Susan B. Anthony, Ernestine Rose, and Antoinette Brown Blackwell to petition for suffrage and abolition in the 19th century. Her efforts as a founder of the Women’s National Loyal League were essential to the passage of the Thirteenth Amendment abolishing slavery.

    “In choosing to name this ship after Lucy Stone, Secretary Mabus and Secretary Berger knew the legacy of this remarkable woman, who dedicated her life to freedom and to equality for all, “said Deborah Donnley Simmons, Stone co-sponsor. “Her legacy will continue to be told, as this ship sails throughout the world.”

    The official christening moment happened when the ship’s co-sponsors, Alicia Aadnesen
    Deborah Donley Simmons broke a bottle of champagne over the ship’s bow with the words, “For the United States of America, I christen you the USNS Lucy Stone. May God bless this ship and all who sail on her.” Following the christening moment, the ship blew her horns and slid down the rails, amid a fanfare of music from the Navy Band Southwest and red, white and blue streamers.

    “The enduring legacy of Lucy Stone as a trailblazer in the women’s rights movement remains an indelible source of inspiration today,” said Mabus. “How extraordinary that all of these years later, today, our United States Navy is headed-up by the Chief of Naval Operations, a female by the name of Adm. Lisa Franchetti. It would not have been possible if it had not been for the efforts of Lucy Stone.”

    The 746-foot Stone is the fifth ship in the new John Lewis-class previously known as the TAO(X). This class of oilers has the ability to carry 162,000 barrels of diesel ship fuel, aviation fuel and dry stores cargo. The upgraded oiler is built with double hulls to protect against oil spills and strengthened cargo and ballast tanks and will be equipped with a basic self-defense capability. The Lewis-class of oilers will replace the current Kaiser Class fleet replenishment oilers as they age out of the MSC fleet. The ship will be manned by a crew of about 100 civilian Merchant Mariners, sailing under the operational control of MSC.

    “In order to maintain sustained operations at sea, our Navy warships rely on Military Sealift Command’s Combat Logistics Fleet,” said Mabus. “Despite the challenges posed by shortfalls in numbers, MSC continues to play a vital roll in supporting our nation’s logistics readiness. I thank all of our Merchant Mariners for answering our national call to maritime service, and for their ongoing efforts to recruit and maintain our critical capabilities!”

    MIL Security OSI

  • MIL-OSI: FHLBank Atlanta Announces $5 Million Heirs’ Property Family Wealth Protection Fund

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Sept. 23, 2024 (GLOBE NEWSWIRE) — Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced its 2024 Heirs’ Property Family Wealth Protection Fund (FWP), allocating $5 million to assist organizations with the prevention and resolution of heirs’ property issues.

    A recent survey sponsored by FHLBank Atlanta and conducted by The Harris Poll found that most homeowners (90%) expect the equity in their home to benefit their heirs when they die, yet more than 4 in 10 (43%) do not have a will/trust or estate plan. The survey also showed that roughly 1 in 5 homeowners did not have, or were not sure whether they have, a clear title (22%) or recorded deed (20%).

    “Without the proper legal process, there are often roadblocks preventing equity from being passed down as property owners intend,” said FHLBank Atlanta’s President and Chief Executive Officer Kirk Malmberg. “As part of our work to address housing and homeownership challenges, FHLBank Atlanta has focused on heirs’ property issues, which occur when a property owner passes away without a will designating a successor owner or the heirs fail to properly vest title to the property in their names.”

    Through FHLBank Atlanta member institutions, starting October 1, 2024, community organizations, tribal entities, governments and municipalities may apply for up to $500,000 in grant funding to assist property owners located in low-to-moderate income areas within communities in the FHLBank Atlanta district: Alabama, District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina and Virginia. The application deadline is October 31, 2024.

    Heirs’ property issues may also arise when a property is left to multiple beneficiaries without a plan to manage the property, resulting in fractured or tangled title. The survey found that 38% of homeowners without a will/trust or estate plan intend to leave their home or property to more than one heir.

    “Family homes and properties are key to generational wealth building, but all too often, this legacy is lost due to inadequate legal documentation,” said Georgia Congresswoman Nikema Williams, a member of the Financial Services Committee and the Subcommittee on Housing and Insurance. “Earlier this year, I led the introduction of the HEIRS Act, which shares the same goal as FHLBank Atlanta’s program: to increase access to essential legal services, bridge wealth disparities, and give families confidence that their properties are secure for future generations.”

    Further, heirs’ property could be a more common challenge among lower income households. The survey indicated that 57% of homeowners with an annual household income under $50,000 do not have a will/trust or estate plan, and 42% in the same income range intend to leave their home to multiple heirs, exacerbating the potential risk.

    “When ownership of a property is unclear, it hinders the accumulation of generational wealth and makes it hard for the home to be maintained or sold, often leading to neighborhood blight,” said FHLBank Atlanta Senior Vice President and Director of Community Investment Services Tomeka Strickland. “The Family Wealth Protection Fund was created to help individuals protect their hard-earned assets for future generations while strengthening communities.”

    For additional information on FHLBank Atlanta’s Heirs’ Property Family Wealth Protection Fund or to identify a FHLBank Atlanta member financial institution for partnership opportunities, visit the Bank’s Find a Member page or contact Community Investment Services at 800.536.9650, option 3 or FHLBAtlantaHeirsProperty@fhlbatl.com.

    About the Federal Home Loan Bank of Atlanta
    FHLBank Atlanta is a member-owned cooperative that offers competitively-priced financing, community development grants, and other banking services to assist its member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households.

    For more information, visit our website at www.fhlbatl.com.

    Survey Method

    The survey was conducted online within the United States by The Harris Poll on behalf of Federal Home Loan Bank of Atlanta from August 20-22, 2024, among 1,306 homeowners. The sampling precision of Harris online polls is measured using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 3.2 percentage points using a 95% confidence level.

    CONTACT:
    Sheryl Touchton
    Federal Home Loan Bank of Atlanta
    stouchton@fhlbatl.com
    404.716.4296

    The MIL Network

  • MIL-OSI USA: Rep. Molinaro Leads NY GOP Effort To Repeal Albany’s Pro-Crime Policies

    Source: United States House of Representatives – Representative Marc Molinaro (R-NY-19)

    Binghamton, NY – U.S. Rep. Marc Molinaro (NY-19) today introduced the Keep Our Streets Safe Act to incentivize Albany to repeal bail reform and the Clean Slate Act, which hides felony records from the public. He was joined by U.S. Reps. Nicole Malliotakis (NY-11), Claudia Tenney (NY-24), Andrew Garbarino (NY-2), Nick Langworthy (NY-23), Anthony D’Esposito (NY-18), Mike Lawler (NY-17), Nick LaLota (NY-1), and Brandon Williams (NY-22).

    Under Rep. Molinaro’s bill, if a state like New York has laws that conceal felony records or prevent judges from considering dangerousness when determining pre-trial release, federal funding from the Edward Byrne Memorial Justice Assistance Grants (JAG) will bypass the state and go directly to local governments.

    The JAG Program provides states, tribes, and local governments with funding to support courts, crime prevention, corrections, law enforcement, and mental health, drug, and veteran programs.

    Rep. Molinaro said, “Taxpayers shouldn’t be on the hook to prop up a regime in Albany that is making us less safe. This bill will take funds from Albany and reinvest them directly into the local police, courts, and governments that are actually doing the work to restore public safety.”

    MIL OSI USA News

  • MIL-OSI USA: ICYMI: Rural Counties Emphasize the Dangers of Republican Scheme to Funnel Millions of Taxpayer Dollars to Private School Vouchers

    Source: US State of North Carolina

    Headline: ICYMI: Rural Counties Emphasize the Dangers of Republican Scheme to Funnel Millions of Taxpayer Dollars to Private School Vouchers

    ICYMI: Rural Counties Emphasize the Dangers of Republican Scheme to Funnel Millions of Taxpayer Dollars to Private School Vouchers
    mseets

    Legislative Republicans’ plan to spend $625 million this year on taxpayer funded private school vouchers instead of public schools will hurt rural communities the most. And school boards and leaders in rural North Carolina are speaking out. Voucher expansion would disproportionately impact rural North Carolina counties, where access to private education is limited and public schools serve as the backbone of communities. Recently, local papers have highlighted this attack on public education in North Carolina.

    Read how communities will be affected below:

    N&O: Private school voucher expansion is looming in NC. Why Wake schools say that’s bad

    T. Keung Hui, September 18, 2024

    Wake County school leaders charge that North Carolina’s historic expansion of private school voucher funding will leave public schools underfunded.

    State lawmakers have passed a bill that provides an additional $463 million for private school vouchers but less than half of the $200 million requested for public school enrollment growth. During Tuesday’s review of House Bill 10, most Wake school board members said the legislation should be rejected.

    Democratic Gov. Roy Cooper is expected to veto the bill. But Republicans have a large enough legislative majority to override Cooper to pass the bill into law.

    “Not only is it bad for us here in Wake County, It’s bad statewide,” said school board chair Chris Heagarty. “It’s bad because so many of our small school districts don’t even have private school options yet the public schools which are there to serve in those communities are underfunded.”

    Read the article here.

    Martin County Enterprise: Governor: Voucher program hurts MCS

    John Foley, September 18, 2024

    Martin County public schools, already suffering from tight budget restraints, could lose substantial funding if the N.C. General Assembly’s move to direct substantial tax dollars towards private school vouchers is successful.

    That’s the message from N.C. Governor Roy Cooper.

    The action would extend the program to 55,000 students.

    “If the General Assembly’s private school voucher plan moves forward, Martin County could lose more than $65,000 in public education funding in just the first year of the expanded program,” Gov. Cooper told The Enterprise last week. “Statewide, the General Assembly could spend nearly $625 million in new funding of taxpayer money for private school vouchers just this year.”

    Gov. Cooper was referring to the GOP-controlled Legislature’s vote to approve the increased voucher funding.

    “They’re coming back to take hundreds of millions of taxpayer money out of the public schools to give it to private school vouchers for the wealthiest North Carolinians,” the Governor said. “This is devastating for education across the board and we have evidence from other states to prove it.”

    Public schools are funded based on how many students are enrolled. For each enrolled student, public schools receive an average of $7,500 in state funding to cover various expenses, such as teacher salaries, instructional materials or transportation, explained Cooper.

    Under the voucher program, if a public-school student uses a voucher to attend a private school, the public schools lose that funding. If the General Assembly fully expands the taxpayer-funded private school voucher program, private schools could siphon nearly $100 million in state funding from public schools.

    The program will cost the state more than $270 million just in the first year, according to statistics provided by Gov. Cooper.

    “Despite the lack of funding, our public schools continue to shine. More than 84 percent of North Carolina’s school-aged children still attend public schools and parents are overwhelmingly satisfied with that choice,” noted Gov. Cooper. “And for good reason. Our public schools are doing amazing things.

    “Last year, public school students earned 325,000 workforce credentials, and our public schools have more nationally board certified teachers than any other state in the country,” he continued. “The success of our families and our workforce relies on strong public schools. Private school vouchers will destroy that goal.”

    Studies show private school vouchers do not improve student performance. North Carolina private schools also operate under a less regulated educational umbrella. Private schools are not required to hire licensed teachers, they are not required to report on how students are performing, nor are they required to teach a curriculum based on the state’s academic standards or provide services for students with disabilities.

    “Vouchers directly undermine strong public education. They take scarce funding from public schools, which serve 90 percent of students nationwide — and give it to private schools. These private schools have no accountability to tax payers for their service and are held to no standards for curriculum, student learning, nor ethical practice,” Martin County Schools Superintendent Dr. Michelle White said. “In addition, private schools choose what students they will accept to educate. Public tax dollars should not be used for chosen students, it should be used for all students.

    “Martin County Schools, like all public schools, proudly serve all children. In addition, public school teachers are severely underpaid and often work multiple jobs to make ends meet,” Dr. White continued. “If our legislators would have taken the $463 million dollars they put in vouchers, and invested it in teacher pay, North Carolina teachers would have seen a 2.6 percent pay increase.”

    Read the article here.

    The Yadkin Ripple: Expanded private school vouchers could hurt local school funding

    Kitsey Burns Harrison, September 18, 2024

    There are no private schools located in Yadkin County, yet an expanded private school voucher program recently passed in the state legislature could lead to lost funding for public education.

    Part of House Bill 10, passed by Republican legislators in the N.C. General Assembly last week, aimed at providing “school choice” for students includes an increase in funds for the next 15 years to the Opportunity Scholarship Grant Fund Reserve. A total of $625 million in new funding would be directed to taxpayer-funded private school vouchers in the first year of this expanded program.

    According to information from Governor Roy Cooper’s office, “Yadkin County could lose more than $106,000 in public education funding in just the first year of the expanded voucher program, despite having zero private schools participating in the Opportunity Scholarship Program.”

    Cooper spoke directly with The Yadkin Ripple to express his concern over how this program could particularly affect public education funding for rural counties such as Yadkin.

    “The Legislature wants to take money out of the public schools and give it to private school vouchers, even to the wealthiest of North Carolinians,” Cooper said. “We’re talking about a total amount of $625 million dollars this year. That will be devastating for education across the board. We have strong evidence from other states to prove it. Studies show that private school vouchers do not improve student performance, it’ll only rob public schools of badly needed funding.”

    Funding locally for public schools continues to be an issue and something that educators are concerned about. Yadkin County Schools Superintendent Anthony Davis said he was concerned about how this expanded voucher program could negatively affect Yadkin County Schools.

    “I understand that the General Assembly has a monumental responsibility to ensure that they are good stewards of taxpayer dollars and that the needs are met across several state-funded agencies and programs. However, I do not agree with utilizing public money to fund private schools,” Davis said. “There are so many needs we have in the public school system that go unrealized due to lack of funding. It has become increasingly difficult to hire quality staff with salary being a major mitigating factor. Chronic absenteeism, mental health support, and behavior concerns continue to be a post-pandemic issue that requires the attention of additional specialized staff like school social workers, school counselors, nurses, and behavior support staff.”

    “Our Exceptional Children’s program is only funded at 13% of our population when our actual service numbers well exceed that,” Davis continued. “If the General Assembly would use a fraction of the proposed $825 million they plan to use for vouchers by 2032-2033, all of these programs and staffing needs could be fully funded which would allow us to offer families and staff the support they deserve.”

    Read the article here.

    Rocky Mount Telegram: Cooper intends to veto voucher bill upon arrival

    Eugene L. Tinklepaugh, September 14, 2024

    Gov. Roy Cooper stands ready to veto legislation fully funding a Republican-backed voucher program that currently has a waitlist of about 55,000 students.

    The Opportunity Scholarships are state-funded vouchers available to families with children attending private schools.

    Cooper said Friday in a phone interview with the Telegram that the legislature’s recently approved spending plan will take about $625 million away from the state’s public schools to pay for the program.

    “I’m going to veto this legislation, and it’s important for that veto to be sustained, so that we don’t put these private school vouchers permanently in our system with the very wealthiest getting the money,” Cooper said.

    “This would be devastating to public schools.,” he said.

    The N.C. House voted 67-43 following debate Wednesday to accept the legislation worked out by Republican legislative leaders. The N.C. Senate approved the measure separately Monday during a scheduled session this week.

    In the House, three Democrats joined Republicans in approving the measure. N.C. Rep. Shelly Willingham, D-23rd District, was one of the three Democrats siding with the GOP majority on the bill. Attempts to reach Willingham on Friday were unsuccessful. Willingham represents Bertie, Martin and Edgecombe counties.

    Cooper noted that rural areas would be hurt the most by this bill, which Republicans have touted as clearing the way for a true universal school choice program.

    “Edgecombe County would lose more than $171,000 in public education funding,” Cooper said. He noted that there are no private schools in the county that accept these Opportunity Scholarships.

    Nash County stands to lose even more public education funding if the bill becomes law.

    “Nash County could lose $811,000,” Cooper said. The two-term governor is a Nash County native whose daughters attended Nash County public schools.

    Read the article here.

    The Daily Advance: School voucher expansion ‘devastating’ for public education in NC

    Chris Day, September 13, 2024

    Rural North Carolina’s public schools will suffer because of the state Legislature’s decision this week to spend more tax dollars extending private school vouchers to an additional 55,000 students, Gov. Roy Cooper said this week.

    “The Legislature wants to take hundreds of millions of dollars out of the public schools and give it to private school vouchers, even for the wealthiest North Carolinians,” Cooper said Wednesday during a phone interview with The Daily Advance. “That’s going to be devastating for education across the board.”

    Cooper was referring to the Republican-led General Assembly’s approval this week to add up to $625 million in new funding this year to support Opportunity Scholarships, otherwise known as school vouchers.

    Cooper, who is reaching out to media outlets in rural areas of the state, said he wants residents, particularly those in rural North Carolina, to understand the potential downsides of the state spending even more money for families to send their children to private schools that accept vouchers. That’s because 28 rural North Carolina counties have one or no private school participating in the voucher program.

    “We’ve got evidence from other states that have done this (expand private school vouchers) to prove that studies show that private school vouchers do not improve student performance,” Cooper said. “We also know and we’ve seen it in other states that rural counties will be hurt the most. Most of the private schools getting this taxpayer money are in the urban areas” of the state.

    Read the article here.

    The Taylorsville Times: An interview with Gov. Cooper about School Voucher Expansion legislation

    Angela Farr King, September 18, 2024

    North Carolina House Bill 10, also known as the Private School Voucher Expansion Bill, recently passed in the NC Senate on September 9 and the NC House of Representatives on September 11.

    According to The Opportunity Scholarship Impact Analysis sent to The Taylorsville Times by the Governor’s office and created by the Office of State Budget Management (OSBM), “the Opportunity Scholarship Program (also known as the Private School Voucher Program) was created by the NC General Assembly in 2013. Scholarships are awarded based on a family’s household income and can be used to pay the required tuition and fees to attend an eligible K-12 private school.”

    The OSBM also states that “The 2023 Appropriations Act SL 2023-134 expanded program eligibility and funding leading to nearly 70,000 new applications for the 2024-25 academic year, a more than 100% increase over 2023-24. 15,805 of new eligible applicants were funded, leaving 54,000 on the waitlist. Additional appropriations proposed in the Fiscal Year 2024-25 NC House and Senate budget bills would fund all remaining 2024-25 eligible applicants.”

    According to the Impact Analysis, if the proposed House 10 Bill passes, the current number of new students receiving scholarships to attend private schools of 15,805 will possibly increase by a number of 53,706 for a total of 69,511.

    Read the article here.

    Jacksonville Daily News: Gov. Cooper urging residents in ENC, to speak up against private school voucher funding

    Morgan Starling, September 18, 2024

    North Carolina Gov. Roy Cooper is urging residents, specifically those in rural counties like Onslow, Craven, and Lenoir, to contact their legislators in opposition to a program that Cooper says could take around $625 million away from public schools in just the first year.

    The General Assembly returned to session last week, passing a supplemental spending bill that approves hundreds of millions more taxpayer dollars for private school vouchers through the Opportunity Scholarship Program.

    The House voted 67-43, according to reporting by the Associated Press, adopting the plan that Cooper says will see the legislature spend more than $4 billion in taxpayer funding over the next decade.

    “This is devastating for education across the board, and we have evidence from other states to prove it,” Cooper told The Daily News. “Studies show that private school vouchers do not improve student performance. Instead, they rob public schools of badly needed funding. Of course, in North Carolina, we wouldn’t know, because they have provided no accountability for these hundreds of millions of dollars that they’re sending to the private schools.”

    Expanding private school vouchers would especially impact rural North Carolina counties, where access to private education is limited, and public schools serve as the backbone of communities, according to Cooper’s office.

    In fact, 28 of North Carolina’s 100 counties have no, or just one, private school participating in the voucher program.

    Onslow County itself could lose around $1.7 million in public education funding in just the first year of the expanded voucher program, with 12 private schools eligible to participate.

    Craven County could lose around $1.5 million with only nine schools participating, Lenoir could lose more than $553,000 with just five schools participating, and Jones could lose more than $102,000 despite having zero schools participating.

    Read the article here.

    ###

    Sep 19, 2024

    MIL OSI USA News

  • MIL-OSI: Thnks Announces Winners of the 2024 Thnks Gratitude in Business Awards

    Source: GlobeNewswire (MIL-OSI)

    NASHVILLE, Tenn., Sept. 23, 2024 (GLOBE NEWSWIRE) — Thnks, the first on-demand gratitude expression platform for enterprises, SMBs, and individual contributors, today announced Troy Stevenson, Account Manager at Pegasus Logistics Group as the individual winner and Pegasus Logistics Group as the company winner for the 2024 Thnks Gratitude in Business Awards sponsored by First Horizon.

    As the gratitude in business pioneer, Thnks has transformed small gestures of appreciation into enduring business connections, fostering loyalty, and driving revenue growth. Through the Thnks Gratitude in Business Awards, Thnks celebrates individuals and organizations who are growing their businesses with gratitude.

    “Troy and the entire team at Pegasus Logistics Group inspire a ripple effect of gratitude that transforms how we do business and strengthens our communities,” said Brendan Kamm, Thnks Co-Founder and CEO. “The response to this year’s Thnks Gratitude in Business Award has been truly remarkable. We’ve seen an inspiring array of stories demonstrating how gratitude is being leveraged as a powerful tool for business growth and relationship building.”

    Pegasus Logistics Group, the first company honored by the Gratitude in Business Awards, is being recognized for their exceptional dedication to fostering a culture of appreciation and recognition to drive growth. The company’s innovative initiatives, including their Culture Team’s CREW program and “People on Point” rewards system, demonstrate a strong commitment to fostering a culture of gratitude and empowerment. As the individual winner, Stevenson’s commitment to building trust-based relationships and consistently showing appreciation embodies the transformative power of gratitude in the workplace.

    “We are truly honored to receive this recognition from Thnks and First Horizon,” said Ken Beam, Founder and CEO of Pegasus Logistics Group. “Gratitude is at the heart of our culture, and this win is a testament to the dedication and commitment of individuals like Troy Stevenson and all our team members. We believe that gratitude is the foundation for building strong relationships with our team members, clients, partners, and the community. It’s wonderful to see both Troy’s efforts and the collective spirit of Pegasus Logistics recognized. We’re excited to continue fostering an environment where appreciation drives success and strengthens our connections.”

    Stevenson will be awarded $10,000 in Thnks credits to enhance further the gratitude program at Pegasus Logistics, a $500 credit from a selection of Thnks retailers, and a $2,500 donation will be made in his name to The Grace Foundation, which assists individuals and families in crisis and guidance toward self-sufficiency. The team at Pegasus Logistics will receive $10,000 in Thnks credits for their gratitude program.

    “At First Horizon we’re proud to support the Thnks Gratitude in Business Awards,” said Lucas Doppler, SVP at First Horizon. “We share Thnks’ vision of celebrating those who elevate their workplace, enhance customer experiences, and enrich their communities – by leading with gratitude. “

    To learn more about the Thnks Gratitude in Business Awards sponsored by First Horizon, visit thnks.com.

    ABOUT THNKS
    Established in 2016, Thnks believes making people feel appreciated – not just part of a transaction – is a business-building strategy. Utilized by over 10,000 teams and 120 Fortune 500 companies, Thnks is an on-demand gratitude expression platform for enterprises, SMBs, and individual contributors that converts small acts of gratitude into lasting business relationships that drive loyalty and revenue. The Thnks platform incorporates technology, program analytics and compliance/budget adherence to empower customers with a more economical, intentional, and authentic way to make people feel appreciated. To date, millions of Thnks have been sent – proving small acts of gratitude generate outsized business impact.

    ABOUT FIRST HORIZON
    First Horizon Corp. (NYSE: FHN), with $82.2 billion in assets as of June 30, 2024, is a leading regional financial services company, dedicated to helping our clients, communities, and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

    ABOUT PEGASUS LOGISTICS GROUP
    Pegasus Logistics Group is a global leader in transportation and logistics, specializing in both international and domestic shipments of consequence. With a client-centric approach and a flexible global network of partners, we deliver a highly managed transportation model that adapts to the unique challenges of each business. Our stakeholder-focused approach ensures that our solutions benefit not just our clients but also our team members, partners, and communities. At Pegasus Logistics Group, we believe that true partnership is defined by flexibility, collaboration, and a commitment to improving business processes as we grow together.

    FOR MORE INFORMATION, PRESS ONLY:
    Kaileigh Higgins
    thnks@inkhouse.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2d0bcf29-0a44-40ba-92d5-2b6dadd89c15

    The MIL Network

  • MIL-OSI USA: Four Key Moments: Hearing on Chronic Disease Prevention and Treatment

    Source: United States House of Representatives – Congressman David Schweikert (AZ-06)

    WASHINGTON, D.C. – With the cost of chronic diseases overwhelming family budgets and federal health care spending, Americans need better tools to manage their health, according to witnesses testifying before a Ways and Means Health Subcommittee hearing. Nearly 90 percent of the $4.1 trillion spent on health care in America each year is attributable to chronic disease. Addressing obesity, a risk factor for several chronic diseases, could save taxpayers up to $500 billion annually, and improve the nation’s physical and fiscal health. Witnesses pointed to the success of programs in various parts of Medicare – including innovative Medicare Advantage coverage options and value-based care delivery options – in improving patient health. The Health Subcommittee hearing follows the Ways and Means Committee voting earlier this year to provide innovative medical treatments to help more Americans manage chronic disease. In June, the Ways and Means Committee advanced bipartisan legislation requiring Medicare to cover certain anti-obesity medications, multi-cancer early detection tests, innovative medical devices and pilot a medically-tailored meal program. This week, the House of Representatives unanimously approved H.R. 3800, the Chronic Disease Flexible Coverage Act which passed out of the Ways and Means Committee as well and provides private health insurers with the flexibility to cover preventive medication and treatments.

    New Report: Obesity Costs Taxpayers an Additional $9.1 Trillion

    Obesity is a risk factor for several chronic diseases, including but not limited to, cancer, diabetes, and heart disease. Republicans on the Joint Economic Committee, led by Ways and Means Committee member Rep. David Schweikert (AZ-01), recently issued a report calculating that obesity and its associated health expenses will cost the federal government an additional $9.1 trillion over the next 10 years. Diabetes, a chronic disease, already accounts for a sizable portion of Medicare spending. These costs to taxpayers highlight the need to prevent and effectively manage chronic diseases.

    Rep. Schweikert: “I’m the senior Republican on the Joint Economic Committee…We did the math on obesity in America. We calculate that over the next 10 years, obesity in America may add an additional $9.1 trillion additional health care costs…A bunch of the people on the Left and the Right came to me and said, I can’t believe you were willing to say it, but it’s true. You have a country where we are about to have the fifth year in a row where prime age males are dying younger. The Milken Institute says 47 percent of all U.S. health care is tied to obesity, and in many ways, we also have data that in four years, more than half of America will actually be up against that number. Diabetes now is 33 percent of all U.S. health care spending, 31 percent within Medicare.”

    “Once you get the test, how do we act on that?” Connecting Innovative Screening to Treatment

    Expanding coverage and access to innovative testing for chronic diseases – like multi-cancer early detection screenings – is a major first step in addressing the prevalence of chronic disease by allowing patients and providers to begin treatments even earlier than ever before. However, in response to a question from Rep. Brian Fitzpatrick (PA-01), former Senator and physician Bill Frist highlighted how more can be done to bridge the gap between when a test result is received and care is provided – particularly for patients in rural communities.

    Rep. Fitzpatrick: “I also want to highlight the importance of prevention services – specifically for cancer. Currently there are more than 1.7 million people who receive a cancer diagnosis every single year. Our committee has advanced legislation to increase Medicare access to multi-cancer early detection screenings. Many of us are on the Cancer Caucus which I co-chair. We’ve also introduced numerous pieces of legislation. Dr. Peters and Senator Frist – in your experiences, what other investments, aside from early screenings, should be made to prevent further cancer diagnoses, and get our arms around this terrible killer in America.”

    Former Senator Bill Frist, M.D.: “Once you get the test, how do we act on that? In terms of the companies that I work with in the field, there’s a huge gap between if you have a positive result or a negative result, what happens? How do you get to that facility, to that critical access hospital, to the local hospital, to the hospital two or three hours away. And that’s where an opportunity, that gap exists for things like telemedicine, patient navigation.”

    “We Mop Up the Floor While the Sink Overflows”: America Ignores the Root Causes of Chronic Diseases

    A common focus of the hearing was how food could be better utilized as preventive medicine to address America’s chronic disease epidemic and its associated cost to individuals, families, and taxpayers. Witnesses discussed the importance of preventive medicine in addressing chronic diseases versus the prevailing approach of simply managing them after Americans have already become ill. As one witness told Health Subcommittee Chairman Vern Buchanan (FL-16), the status quo approach is similar to “mop[ping] up the floor while the sink overflows.”

    Rep. Buchanan: “Dr. Hyman…we’re spending over a trillion dollars. We’re spending more money than we’ve ever spent, but we’re going in the wrong direction in terms of health care. When you look at 42 percent…obesity of adults, 20 percent with children. That’s wrong. That’s sad. We can do a lot better. What are your thoughts on it?”

    Dr. Mark Hyman, Institute for Functional Health: “The science and the data are clear that we can solve this chronic disease epidemic by focusing on its root causes. I practice root cause medicine…What is the root cause? In America, we mop up the floor while the sink overflows. How do we turn off the faucet, so we deal with the root cause of the problem, which is the food that’s driving the chronic disease epidemic. I think there are a lot of levers that the government can pull…I think a deep understanding of food as medicine is very important.”

    More Innovative Medicare Programs Can Be Part of Solving Chronic Diseases

    Medicare Advantage has various programs and payment models specifically designed to prevent and treat chronic diseases. Recent data shows that nearly four million seniors are enrolled in plans that offer food and produce benefits. Additionally, Medicare Advantage Special Needs Plans (SNPs) offer specialized care for individuals with severe or debilitating chronic disease (C-SNPs). One study on SNPs found that C-SNP enrollees with diabetes were 38 percent less likely to be admitted to a hospital and 22 percent more likely to have a primary care visit. Primary care providers treating patients upstream is key to chronic disease management. A Medicare Advantage provider detailed to Rep. Adrian Smith (NE-03) specific innovative coverage options targeted to seniors with chronic conditions.

    Rep. Smith: “Dr. Rinaldo, based on your experience with Medicare Advantage, how would you say plan design can better incentivize patients to build stronger relationships with their primary care providers?”Dr. Francesca Rinaldo, Chief Clinical Innovation Officer, SCAN Health Plan:“In our benefit design, we often eliminate or reduce costs for preventive care services like primary care visits, especially those that are related to chronic condition management. For example, we have our chronic condition ‘special needs’ plans related to cardiovascular disease, diabetes and end-stage renal disease. Specifically, for our diabetic members, we provide services and benefits that include no-cost insulin and low-cost other drugs, no-cost diabetic supplies and no-cost diabetic self-management training. For our cardiovascular disease members in our ‘Heart First’ plan, we provide $0 cardiologist visits as well as low-cost cardiac and pulmonary rehabilitation, and we provide no-cost primary care visits for these patients as well.”

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    MIL OSI USA News

  • MIL-OSI Africa: The African Development Bank Group grants over $67 million to Madagascar to relaunch its economy and improve governance in its energy sector

    Source: Africa Press Organisation – English (2) – Report:

    ABIDJAN, Ivory Coast, September 23, 2024/APO Group/ —

    The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of $67.3 million to Madagascar on 20 September 2024 to implement the first phase of its economic growth-inducing Financial Management and Resilience Support Programme for 2024-2025.

    The loan from the African Development Fund, the Bank Group’s concessional financing window, includes funding from the Transition Support Facility.

    “The programme aims to contribute to the creation of favourable conditions for strong and inclusive economic growth by strengthening economic and financial governance, and improving economic resilience,” said Adam Amoumoun, manager of the African Development Bank’s Country Office in Madagascar.

    “It is supporting the Malagasy authorities in implementing the priority reforms of Madagascar’s General State Policy (PGE) 2024-2028 and New Energy Policy for 2015-2030. It will help remedy the investment deficit by increasing the budget, through releasing additional resources for economic recovery, while improving governance in the energy sector,” he explained.

    The programme plans to support the roll-out of the Integrated Tax Administration System (SAFI) to modernize tax management, computerize tax operations, facilitate local revenue collection and taxpayer management, and combat tax fraud. It will also support the creation of a national register of beneficial owners of legal entities and legal structures, to identify people controlling businesses and facilitate investigations in case of corruption.

    In terms of improving governance in the energy sector, the programme plans to support the action plan established by the JIRAMA (Madagascar’s public corporation for electricity and water services) and improve its short-term technical and financial performance to reduce the need for state support.

    As a priority, the programme will support the people of Madagascar, by creating a better regulatory framework for promoting investments and the development of public-private partnership (PPP) projects and better sectoral governance, specifically in energy. This will help improve the business environment and attract investments to sectors that create jobs.

    MIL OSI Africa

  • MIL-OSI USA News: Joint Fact Sheet: The United  States and India Continue to Expand Comprehensive and Global Strategic  Partnership

    Source: The White House

    Today, United States President Joseph R. Biden and Indian Prime Minister Narendra Modi affirmed that the U.S.-India Comprehensive Global and Strategic Partnership, the defining partnership of the 21st century, is decisively delivering on an ambitious agenda that serves the global good.  The Leaders reflected on a historic period that has seen the United States and India reach unprecedented levels of trust and collaboration.  The Leaders affirmed that the U.S.-India partnership must be anchored in upholding democracy, freedom, the rule of law, human rights, pluralism, and equal opportunities for all as our countries strive to become more perfect unions and meet our shared destiny.  The Leaders commended the progress that has made the U.S.-India Major Defense Partnership a pillar of global security and peace, highlighting the benefits of increased operational coordination, information-sharing, and defense industrial innovation.  President Biden and Prime Minister Modi expressed unrelenting optimism and the utmost confidence that the tireless efforts of our peoples, our civic and private sectors, and our governments to forge deeper bonds have set the U.S.-India partnership on a path toward even greater heights in the decades ahead.
     
    President Biden expressed his immense appreciation for India’s leadership on the world stage, particularly Prime Minister Modi’s leadership in the G-20 and in the Global South and his commitment to strengthen the Quad to ensure a free, open, and prosperous Indo-Pacific. India is at the forefront of efforts to seek solutions to the most pressing challenges, from supporting the global response to the COVID-19 pandemic to addressing the devastating consequences of conflicts around the world. President Biden commended Prime Minister Modi for his historic visits to Poland and Ukraine, the first by an Indian Prime Minister in decades, and for his message of peace and ongoing humanitarian support for Ukraine, including its energy sector, and on the importance of international law, including the UN charter.  The Leaders reaffirmed their support for the freedom of navigation and the protection of commerce, including critical maritime routes in the Middle East where India will assume co-lead in 2025 of the Combined Task Force 150 to work with Combined Maritime Forces to secure sea lanes in the Arabian Sea.  President Biden shared with Prime Minister Modi that the United States supports initiatives to reform global institutions to reflect India’s important voice, including permanent membership for India in a reformed U.N. Security Council.  The Leaders voiced their view that a closer U.S.-India partnership is vital to the success of efforts to build a cleaner, inclusive, more secure, and more prosperous future for the planet.   
     
    President Biden and Prime Minister Modi applauded the success of the Initiative on Critical and Emerging Technology (iCET) in deepening and expanding strategic cooperation across key technology sectors, including space, semiconductors, and advanced telecommunications. Both Leaders committed to enhance regular engagements to improve the momentum of collaboration in fields such as artificial intelligence, quantum, biotechnology, and clean energy. They highlighted ongoing efforts to strengthen collaboration with like-minded partners, including through the Quad and a U.S.-India-ROK Trilateral Technology initiative launched earlier this year to build more secure and resilient supply chains for critical industries and ensure we collectively remain at the leading edge of innovation.  The Leaders directed their governments to redouble efforts to address export controls, enhance high technology commerce, and reduce barriers to technology transfer between our two countries, while addressing technology security, including through the India-U.S. Strategic Trade Dialogue.  Leaders also endorsed new mechanisms for deeper cyberspace cooperation through the bilateral cybersecurity dialogue. The Leaders recommitted to expand the manufacturing and deployment of clean energy, including finding opportunities to expand U.S.-India cooperation in solar, wind and nuclear energy and the development of small modular reactor technologies.
     
    Charting a Technology Partnership for the Future
     

    • President Biden and Prime Minister Modi hailed a watershed arrangement to establish a new semiconductor fabrication plant focused on advanced sensing, communication, and power electronics for national security, next generation telecommunications, and green energy applications. The fab, which will be established with the objective of manufacturing infrared, gallium nitride and silicon carbide semiconductors, will be enabled by support from the India Semiconductor Mission as well as a strategic technology partnership between Bharat Semi, 3rdiTech, and the U.S. Space Force.
    • The Leaders praised combined efforts to facilitate resilient, secure, and sustainable semiconductor supply chains including through GlobalFoundries’ (GF) creation of the GF Kolkata Power Center in Kolkata, India that will enhance mutually beneficial linkages in research and development in chip manufacturing and enable game-changing advances for zero and low emission as well as connected vehicles, internet of things devices, AI, and data centers. They noted GF’s plans to explore longer term, cross-border manufacturing and technology partnerships with India which will deliver high-quality jobs in both of our countries.  They also celebrated the new strategic partnership between the U.S. Department of State and the India Semiconductor Mission, Ministry of Electronics and Information Technology in connection with the International Technology Security and Innovation (ITSI) Fund. 
    • The Leaders welcomed steps our industry is taking to build safe, secure, and resilient supply chains for U.S., Indian, and international automotive markets, including through Ford Motor Company’s submission of a Letter of Intent to utilize its Chennai plant to manufacture for export to global markets.  
    • The Leaders welcomed progress toward the first joint effort by NASA and ISRO to conduct scientific research onboard the International Space Station in 2025. They appreciated the initiatives and exchange of ideas under the Civil Space Joint Working Group and expressed hope that its next meeting in early 2025 will open additional avenues of cooperation.  They pledged to pursue opportunities to deepen joint innovation and strategic collaborations, including by exploring new platforms in civil and commercial space domains.  
    • The Leaders also welcomed efforts to enhance collaboration between our research and development ecosystems. The Leaders also welcomed efforts to enhance collaboration between our research and development ecosystems. The Leaders also welcomed efforts to enhance collaboration between our research and development ecosystems.  They plan to mobilize up to $90+ million in U.S. and Indian government funding over the next five years for the U.S.-India Global Challenges Institute to support high-impact R&D partnerships between U.S. and Indian universities and research institutions, including through identifying options to implement the Statement of Intent signed at the June 2024 iCET meeting.  The Leaders also welcomed the launch of a new U.S.-India Advanced Materials R&D Forum to expand collaboration between American and Indian universities, national laboratories, and private sector researchers. The Leaders also welcomed the launch of a new U.S.-India Advanced Materials R&D Forum to expand collaboration between American and Indian universities, national laboratories, and private sector researchers. 
    • The Leaders announced the selection of 11 funding awards between the National Science Foundation and India’s Department of Science and Technology, supported by a combined $5+ million grant to enable joint U.S.-India research projects in areas such as next-generation telecommunications, connected vehicles, machine learning.  The Leaders announced the award of 12 funding awards under the National Science Foundation and Ministry of Electronics and Information Technology, research collaboration with a combined outlay of nearly $10 million to enable joint U.S.-India basic and applied research in the areas of semiconductors, next generation communication systems, sustainability & green technologies and intelligent transportation systems.  Furthermore, NSF and MeitY are exploring new opportunities for research collaboration to enhance and synergize the basic and applied research ecosystem on both sides.
    • The Leaders celebrated that India’s Department of Biotechnology (DBT) along with National Science Foundation of the United States announced the first joint call for collaborative research projects in February 2024 to address complex scientific challenges and innovate novel solutions that leverage advances in synthetic and engineering biology, systems and computational biology, and other associated fields that are foundational to developing future biomanufacturing solutions and advance the bioeconomy. Under the first call for proposals, joint research teams responded enthusiastically and results are likely to be announced by the end of 2024.
    • The Leaders also highlighted additional cooperation we are building across artificial intelligence (AI), quantum, and other critical technology areas. They highlighted the second convening of the U.S.-India Quantum Coordination Mechanism in Washington in August and welcomed the announcement of seventeen new awards for binational research and development cooperation on artificial intelligence and quantum via the U.S.-India Science and Technology Endowment Fund (IUSSTF).  They welcomed new private sector cooperation on emerging technologies, such as through IBM’s recent conclusion of memoranda of understanding with the Government of India, which will enable IBM’s watsonx platform on India’s Airawat supercomputer and drive new AI innovation opportunities, enhance R&D collaboration on advanced semiconductor processors, and increase support for India’s National Quantum Mission. 
    • The Leaders commended ongoing efforts to build more expansive cooperation around 5G deployment and next-generation telecommunications; this includes the U.S. Agency for International Development’s plans to expand the Asia Open RAN Academy with an initial $7 million investment to grow this workforce training initiative worldwide, including in South Asia with Indian institutions.
    • The Leaders welcomed progress since the November 2023 signing of an MOU between the Commerce Department and the Ministry of Commerce and Industry to enhance the two countries’ innovation ecosystems under the “Innovation Handshake” agenda.  Since then, the two sides have convened two industry roundtables in the U.S. and India to bring together startups, private equity and venture capital firms, corporate investment departments, and government officials to forge connections and to accelerate investment in innovation.

    Powering a Next Generation Defense Partnership

    • President Biden welcomed the progress towards India concluding procurement of 31 General Atomics MQ-9B (16 Sky Guardian and 15 Sea Guardian) remotely piloted aircraft and their associated equipment, which will enhance the intelligence, surveillance and reconnaissance (ISR) capabilities of India’s armed forces across all domains. 
    • The Leaders recognized the remarkable progress under the U.S.-India Defense Industrial Cooperation Roadmap, including ongoing collaboration to advance priority co-production arrangements for jet engines, munitions, and ground mobility systems.  They also welcomed efforts to expand defense industrial partnerships, including the teaming of Liquid Robotics and Sagar Defence Engineering for the co-development and co-production of unmanned surface vehicle systems that strengthen undersea and maritime domain awareness. The Leaders applauded the recent conclusion of the Security of Supply Arrangement (SOSA), enhancing the mutual supply of defense goods and services. Both Leaders committed to advance ongoing discussions on aligning their respective defense procurement systems to further enable the reciprocal supply of defense goods and services.
    • President Biden welcomed India’s decision to set a uniform Goods and Services Tax (GST) of 5 percent on the maintenance, repair, and overhaul (MRO) sector, including on all aircraft and aircraft engine parts thereby simplifying the tax structure and paving the way for building a strong ecosystem for MRO services in India. The Leaders also encouraged the industry to foster collaboration and drive innovation to support India’s efforts to become a leading aviation hub.  The Leaders welcomed commitments from U.S. industry to further increase India’s MRO capabilities, including for the repair of aircraft and unmanned aerial vehicles.
    • The Leaders hailed the teaming agreement on the C-130J Super Hercules aircraft recently signed between Lockheed Martin and Tata Advanced Systems Limited, the two companies that co-chair the U.S.-India CEO Forum.  Building on longstanding industry cooperation, this agreement will establish a new Maintenance, Repair and Overhaul (MRO) facility in India to support the readiness of the Indian fleet and global partners who operate the C-130 Super Hercules aircraft.  This marks a significant step in U.S.-India defense and aerospace cooperation and reflects the two sides’ deepening strategic and technology partnership ties.
    • The Leaders lauded the growing defense innovation collaboration between our governments, businesses, and academic institutions fostered by the India-U.S. Defense Acceleration Ecosystem (INDUS-X) initiative launched in 2023, and noted progress achieved during the third INDUS-X Summit in Silicon Valley earlier this month. They welcomed the enhanced collaboration between the Indian Ministry of Defence’s Innovations for Defence Excellence (iDEX) and US Department of Defence’s Defense Innovation Unit (DIU) through the Memorandum of Understanding signed at the Silicon Valley Summit. The efforts via the INDUSWERX consortium to facilitate pathways for defense and dual-use companies in the INDUS-X network to access premier testing ranges in both countries, were appreciated.
    • The Leaders also recognized the clear fulfillment of the shared goal to build a defense innovation bridge under INDUS-X through the launch of “joint challenges” designed by the U.S. DoD’S DIU and the Indian MoD’s Defence Innovation Organization (DIO).  In 2024, our governments have separately awarded $1+ million to U.S. and Indian companies that developed technologies focused on undersea communications and maritime intelligence, surveillance, and reconnaissance (ISR).  Building on this success, a new challenge was announced at the most recent INDUS-X Summit that focused on Space Situational Awareness (SSA) in the Low Earth Orbit (LEO).  
    • The Leaders welcomed ongoing efforts to deepen our military partnership and interoperability to maintain a free and open Indo-Pacific, noting that India hosted our most complex, largest bilateral, tri-service exercise to date during the March 2024 TIGER TRIUMPH exercise.  They also welcomed the inclusion of new technologies and capabilities, including a first-ever demonstration of the Javelin and Stryker systems in India, on the margins of the ongoing bilateral Army YUDH ABHYAS exercise. 
    • The Leaders welcomed the conclusion of the Memorandum of Agreement regarding the Deployment of Liaison Officers, and the commencement of deployment process of the first Liaison Officer from India in US Special Operations Command (SOCOM).
    • The Leaders commended work to advance cooperation in advanced domains, including space and cyber, and looked forward towards the November 2024 bilateral cyber engagement to enhance the U.S.-India cyber cooperation framework. Areas of new cooperation will include threat information sharing, cybersecurity training, and collaboration on vulnerability mitigation in energy and telecommunications networks. The Leaders also noted the second U.S.-India Advanced Domains Defense Dialogue in May 2024, which included the first-ever bilateral defense space table-top exercise. 

    Catalyzing the Clean Energy Transition

    • President Biden and Prime Minister Modi welcomed the U.S.-India Roadmap to Build Safe and Secure Global Clean Energy Supply Chains, which launched a new initiative to accelerate the expansion of safe and secure clean energy supply chains through U.S. and Indian manufacturing of clean energy technologies and components.  In its initial phase, the U.S. and India would work together to unlock $1 billion of multilateral financing to support projects across the clean energy value chain for renewable energy, energy storage, power grid and transmission technologies, high efficiency cooling systems, zero emission vehicles, and other emerging clean technologies.
    • The Leaders also highlighted the U.S. International Development Finance Corporation (DFC)’s partnership with India’s private sector to expand clean energy manufacturing and diversify supply chains.  To date, DFC has extended a $250 million loan to Tata Power Solar to construct a solar cell manufacturing facility and a $500 million loan to First Solar to construct and operate a solar module manufacturing facility in India.
    • The Leaders lauded the strong collaboration under the Strategic Clean Energy Partnership (SCEP), most recently convened on September 16, 2024 in Washington DC to strengthen energy security, create opportunities for clean energy innovation, address climate change and create employment generation opportunities, including through capacity building, and collaboration between industry and R&D.
    • The Leaders welcomed collaboration on a new National Center for Hydrogen Safety in India and affirmed their intent to utilize the new Renewable Energy Technology Action Platform (RETAP) to enhance collaboration on clean energy manufacturing and global supply chains, including through public-private task forces on hydrogen and energy storage.
    • The Leaders also announced a new Memorandum of Cooperation between the U.S. Agency for International Development and the International Solar Alliance aimed at promoting more responsive and sustainable power systems that leverage diverse renewable energy sources. 
    • The Leaders reaffirmed their commitment to accelerate the development of diverse and sustainable supply chains for critical minerals under the Minerals Security Partnership targeting strategic projects along the value chain.  The Leaders looked forward to the signing of the Critical Minerals Memorandum of Understanding at the forthcoming U.S.-India Commercial Dialogue and pledged to hasten bilateral collaboration to secure resilient critical minerals supply chains through enhanced technical assistance and greater commercial cooperation.
    • The Leaders welcomed the progress made on joint efforts since 2023 for India to work toward IEA membership in accordance with the provisions of the Agreement on an International Energy Program.
    • The two Leaders reaffirmed their commitment to accelerating the manufacturing and deployment of renewable energy, battery storage and emerging clean technology in India. They welcomed the ongoing progress between India’s National Investment and Infrastructure Fund (NIIF) and the U.S. International Development Finance Corporation to provide up to $500 million each to anchor the Green Transition Fund as well as encourage private sector investors to match these efforts. Both sides look forward to the expeditious operationalization of the Green Transition Fund.

    Empowering Future Generations and Promoting Global Health and Development

    • The Leaders welcomed India’s signature and ratification of the Agreements under Pillar III, Pillar IV and the overarching Agreement on the Indo-Pacific Economic Framework for Prosperity (IPEF). The Leaders underscored that IPEF seeks to advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness of the economies of its signatories. They noted the economic diversity of the 14 IPEF partners that represents 40 percent of global GDP and 28 percent of global goods and services trade.
    • President Biden and Prime Minister Modi celebrated the new U.S.-India Drug Policy Framework for the 21st Century and its accompanying Memorandum of Understanding, which will deepen collaboration to disrupt the illicit production and international trafficking of synthetic drugs and precursor chemicals, and deepen a holistic public health partnership. 
    • The two Leaders signaled their commitment to the objectives of the Global Coalition to Address Synthetic Drugs Threats and work towards combatting the threat of synthetic drugs and their precursors through mutually agreed initiatives to promote public health through coordinated actions.
    • The Leaders applauded the first-ever U.S.-India Cancer Dialogue held in August 2024, which brought together experts from both countries to increase research and development to accelerate the rate of progress against cancer.  The Leaders applauded the recently launched Bio5 partnership between the United States, India, ROK, Japan, and the EU, driving closer cooperation on pharmaceutical supply chains.  The Leaders applauded the Development Finance Corporation’s $50 million loan to Indian company Panacea Biotech to manufacture hexavalent (six-in-one) vaccines for children, reaffirming our joint commitment to advance shared global health priorities, including bolstering support for primary healthcare.
    • The leaders welcomed the signing of Memorandum of Understanding (MoU) between the Ministry of Micro, Small and Medium Enterprises and Small Business Administration for promoting cooperation between U.S. and Indian small and medium-size enterprises by improving their participation in the global market place through capacity building workshops in areas such as trade and export finance, technology and digital trade, green economy and trade facilitation. The MoU also provides for the joint conduct of programs for women entrepreneurs to empower them and facilitate trade partnership between women-owned small businesses of the two countries.  The Leaders celebrated that, since the June 2023 State visit, the Development Finance Corporation has invested $177 million across eight projects to support Indian small businesses and drive economic growth.
    • The Leaders welcomed enhanced cooperation on agriculture between the U.S. Department of Agriculture and India’s Ministry of Agriculture and Farmers Welfare, in areas such as climate-smart agriculture, agriculture productivity growth, agriculture innovation, and sharing best practices related to crop risk protection and agriculture credit. The two sides will also enhance cooperation with the private sector through discussions on regulatory issues and innovation to enhance bilateral trade.
    • The Leaders welcomed the formal launch of the new U.S.-India Global Digital Development Partnership, which aims to bring together U.S. and Indian private sector companies, technology and resources to deploy the responsible use of emerging digital technologies in Asia and Africa.
    • The Leaders welcomed strengthened trilateral cooperation with Tanzania through the Triangular Development Partnership, led by the U.S. Agency for International Development and India’s Development Partnership Administration to jointly address global development challenges and foster prosperity in the Indo-Pacific. The partnership focuses on advancing renewable energy projects, including solar energy, to enhance energy infrastructure and access in Tanzania, thereby bolstering energy cooperation in the Indo-Pacific.  They also desired to explore the expansion of the triangular development partnership in areas of health cooperation, particularly for critical technical areas of mutual interest including digital health and capacity building of nurses and other frontline health workers.
    • The Leaders acknowledged the July 2024 signing of a bilateral Cultural Property Agreement that will facilitate implementation of the 1970 Convention on the Means of Prohibiting and Preventing the Illicit Import, Export, and Transfer of Ownership of Cultural Property.  The agreement marked the culmination of years of diligent work by experts from both countries and fulfills President Biden’s and Prime Minister Modi’s commitment to enhance cooperation to protect cultural heritage highlighted in the joint statement when they met in June 2023. In this context, the leaders welcomed the repatriation of 297 Indian antiquities from the U.S. to India in 2024.
    • The Leaders look forward to building on India’s ambitious G20 presidency to deliver on shared priorities for the G20 Leaders’ Summit in Rio de Janeiro, including: bigger, better, and more effective MDBs, including by following through on Leaders’ pledges in New Delhi to boost the World Bank’s capacity to help developing countries address global challenges, while recognizing the imperative of achieving the sustainable development goals; a more predictable, orderly, timely and coordinated sovereign debt restructuring process; and a pathway to growth for high-ambition developing countries that are facing financing challenges amid mounting debt burdens by increasing access to finance and unlocking fiscal space taking into account country specific circumstances.

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    MIL OSI USA News

  • MIL-OSI Asia-Pac: GeM celebrates 100 days of governance; announces drastic reduction in its transaction charges

    Source: Government of India (2)

    GeM celebrates 100 days of governance; announces drastic reduction in its transaction charges

    Orders above ₹10 Crore to pay flat fee of ₹3 Lakh, a massive reduction from previous transaction charges capped at ₹72.5 Lakh

    Posted On: 21 SEP 2024 1:53PM by PIB Delhi

    Aligning with the Government’s ongoing commitment to foster ease of doing business and build a more inclusive economy, Government e Marketplace (GeM) has recently announced a significant reduction in the transaction charges levied on Sellers / Service Providers transacting on its platform. This bold move was part of Govt’s 100 days initiative.  Accordingly, GeM has announced a New Revenue Policy of the portal which was given effect to from 9th August 2024.

    As per this Policy:

    All orders valued up to ₹10 Lakh will now attract zero transaction charges, as opposed to the earlier order value ceiling of ₹5 Lakh.

    Orders above ₹10 Lakh up to ₹10 Crore will be levied transaction charges worth 0.30% of total order value, as compared to earlier transaction charges of 0.45%.

    Orders above ₹10 Crore will now pay a flat fee of ₹3 Lakh, a massive reduction from the transaction charges previously capped at ₹72.5 Lakh.

    Nearly 97% of the transactions on GeM will be attracting zero transaction charges, while the remaining will incur a nominal fee @0.30% of order value above ₹10 Lakh subject to a maximum of ₹3 Lakh only, irrespective of the size of the order. This step is a watershed moment in terms of Ease of Doing Business on GeM and is also in line with Government’s commitment of reduction in cost of transactions. In a single stroke, GeM has reduced its transaction fee by almost 33% to 96% which is expected to greatly benefit GeM Sellers/ service providers to become more competitive.

    The latest transaction fee structure is aimed at democratizing access to public procurement ecosystem. It aims to particularly benefit MSEs, which often face challenges navigating cumbersome financial and operational barriers. By considerably lowering transaction charges, GeM aims to level the playing field, thereby creating opportunities for small-scale businesses to deliver value and innovation in public procurement.

    FY 2024-25 is also a watershed moment for Services sector wherein services sector leapfrogged at a very rapid pace surpassing Product GMV by a good margin. Service GMV of Rs. 1.39 Lakh crore as on 31st August 2024 is accounting for approximately 65% of the total Merchandise Value of ₹2.15 Lakh Crore for the same period. Several high value service bids have been awarded on the platform.

    This surge in services procurement is supported by a large inventory of 325+ service categories on the platform. Coupled with its user-friendly interface, GeM has made it easier for government buyers to evaluate, select and engage service providers on the basis of their tailored needs. The platform’s transparent e-bidding processes ensure fair competition, while ensuring that government buyers find the right partner for their specific requirements.

     

    About GeM:

    Government e Marketplace is a unified digital platform that facilitates end-to-end procurement of goods and services by various Central Ministries, State Departments, Public Sector Enterprises, Autonomous Bodies, Panchayats, Multi & Single State Cooperatives etc. Our Prime Minister’s concerted efforts to harness the power of digital platforms to achieve ‘Minimum Government, Maximum Governance’ led to the genesis of GeM in 2016. The online portal was established with a clear objective to eliminate age-old manual public procurement processes that were riddled with inefficiencies and corruption.

    GeM provides a paperless, cashless and contactless ecosystem for government buyers to directly purchase products and services from pan-India sellers and service providers through an online platform. GeM covers the entire gamut of procurement process, right from vendor registration and item selection by buyers to receipt of goods and facilitation of timely payments. GeM was envisioned to utilise the agility and speed that come along with a digital platform created with a strategic intent to reinvigorate public procurement systems and bring about a lasting change for the underserved as well as the nation.

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  • MIL-OSI Asia-Pac: CBDT notifies Rules and Forms for Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024

    Source: Government of India

    CBDT notifies Rules and Forms for Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024

    The Scheme to come into force with effect from 1st Oct. 2024

    DTVSV Scheme provides for lesser settlement amounts for a ‘new appellant’ in comparison to an ‘old appellant’

    Posted On: 21 SEP 2024 1:40PM by PIB Delhi

    In pursuance of the announcement in Union Budget 2024-25 by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, the Central Board of Direct Taxes (CBDT) has notified the Direct Tax Vivad Se Vishwas Scheme, 2024 (referred as DTVSV, 2024) to resolve pending appeals in the case of income tax disputes. The said Scheme shall come into force with effect from 1st Oct. 2024.

    The DTVSV Scheme, 2024 was enacted vide Finance (No. 2) Act, 2024.  Further, the Rules and Forms for enabling the Scheme have also been notified vide Notification No. 104/2024 in G.S.R 584(E) dated 20.09.2024.

    The DTVSV Scheme provides for lesser settlement amounts for a ‘new appellant’ in comparison to an ‘old appellant’. The DTVSV Scheme also provides for lesser settlement amounts for taxpayers who file declaration on or before 31.12.2024 in comparison to those who file thereafter.

    Four separate Forms have been notified for the purposes of the DTVSV Scheme. These are as under:

    1. Form-1: Form for filing declaration and Undertaking by the declarant
    2. Form-2: Form for Certificate to be issued by Designated Authority
    3. Form-3: Form for Intimation of payment by the declarant
    4. Form-4: Order for Full and Final Settlement of tax arrears by Designated Authority

    The DTVSV Scheme also provides that Form-1 shall be filed separately for each dispute provided that where appellant and the income-tax authority, both have filed an appeal in respect of the same order, single Form-1 shall be filed in such a case.

    The intimation of payment is to be made in Form-3 and is to be furnished to the Designated Authority alongwith proof of withdrawal of appeal, objection, application, writ petition, special leave petition, or claim.

    Forms 1 and 3 shall be furnished electronically by the declarant. These Forms will be made available on the e-filing portal of Income Tax Department i.e. www.incometax.gov.in.

    For detailed provisions of the DTVSV Scheme, 2024, section 88 to section 99 of the Finance (No. 2) Act, 2024 may be referred to alongwith Direct Tax Vivad Se Vishwas Rules, 2024.      

    This is another initiative by the Government towards litigation management.

    CLICK HERE TO ACCESS THE NOTIFICATION

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  • MIL-OSI Asia-Pac: Joint Fact Sheet: The United States and India Continue to Expand Comprehensive and Global Strategic Partnership

    Source: Government of India (2)

    Posted On: 22 SEP 2024 8:51AM by PIB Delhi

    Today, United States President Joseph R. Biden and Indian Prime Minister Narendra Modi affirmed that the U.S.-India Comprehensive Global and Strategic Partnership, the defining partnership of the 21st century, is decisively delivering on an ambitious agenda that serves the global good. The Leaders reflected on a historic period that has seen the United States and India reach unprecedented levels of trust and collaboration. The Leaders affirmed that the U.S.-India partnership must be anchored in upholding democracy, freedom, the rule of law, human rights, pluralism, and equal opportunities for all as our countries strive to become more perfect unions and meet our shared destiny. The Leaders commended the progress that has made the U.S.-India Major Defense Partnership a pillar of global security and peace, highlighting the benefits of increased operational coordination, information-sharing, and defense industrial innovation. President Biden and Prime Minister Modi expressed unrelenting optimism and the utmost confidence that the tireless efforts of our peoples, our civic and private sectors, and our governments to forge deeper bonds have set the U.S.-India partnership on a path toward even greater heights in the decades ahead.

    President Biden expressed his immense appreciation for India’s leadership on the world stage, particularly Prime Minister Modi’s leadership in the G-20 and in the Global South and his commitment to strengthen the Quad to ensure a free, open, and prosperous Indo-Pacific. India is at the forefront of efforts to seek solutions to the most pressing challenges, from supporting the global response to the COVID-19 pandemic to addressing the devastating consequences of conflicts around the world. President Biden commended Prime Minister Modi for his historic visits to Poland and Ukraine, the first by an Indian Prime Minister in decades, and for his message of peace and ongoing humanitarian support for Ukraine, including its energy sector, and on the importance of international law, including the UN charter. The Leaders reaffirmed their support for the freedom of navigation and the protection of commerce, including critical maritime routes in the Middle East where India will assume co-lead in 2025 of the Combined Task Force 150 to work with Combined Maritime Forces to secure sea lanes in the Arabian Sea. President Biden shared with Prime Minister Modi that the United States supports initiatives to reform global institutions to reflect India’s important voice, including permanent membership for India in a reformed U.N. Security Council. The Leaders voiced their view that a closer U.S.-India partnership is vital to the success of efforts to build a cleaner, inclusive, more secure, and more prosperous future for the planet.

    President Biden and Prime Minister Modi applauded the success of the Initiative on Critical and Emerging Technology (iCET) in deepening and expanding strategic cooperation across key technology sectors, including space, semiconductors, and advanced telecommunications. Both Leaders committed to enhance regular engagements to improve the momentum of collaboration in fields such as artificial intelligence, quantum, biotechnology, and clean energy. They highlighted ongoing efforts to strengthen collaboration with like-minded partners, including through the Quad and a U.S.-India-ROK Trilateral Technology initiative launched earlier this year to build more secure and resilient supply chains for critical industries and ensure we collectively remain at the leading edge of innovation. The Leaders directed their governments to redouble efforts to address export controls, enhance high technology commerce, and reduce barriers to technology transfer between our two countries, while addressing technology security, including through the India-U.S. Strategic Trade Dialogue. Leaders also endorsed new mechanisms for deeper cyberspace cooperation through the bilateral cybersecurity dialogue. The Leaders recommitted to expand the manufacturing and deployment of clean energy, including finding opportunities to expand U.S.-India cooperation in solar, wind and nuclear energy and the development of small modular reactor technologies.

    Charting a Technology Partnership for the Future

    President Biden and Prime Minister Modi hailed a watershed arrangement to establish a new semiconductor fabrication plant focused on advanced sensing, communication, and power electronics for national security, next generation telecommunications, and green energy applications. The fab, which will be established with the objective of manufacturing infrared, gallium nitride and silicon carbide semiconductors, will be enabled by support from the India Semiconductor Mission as well as a strategic technology partnership between Bharat Semi, 3rdiTech, and the U.S. Space Force.

    The Leaders praised combined efforts to facilitate resilient, secure, and sustainable semiconductor supply chains including through GlobalFoundries’ (GF) creation of the GF Kolkata Power Center in Kolkata, India that will enhance mutually beneficial linkages in research and development in chip manufacturing and enable game-changing advances for zero and low emission as well as connected vehicles, internet of things devices, AI, and data centers. They noted GF’s plans to explore longer term, cross-border manufacturing and technology partnerships with India which will deliver high-quality jobs in both of our countries. They also celebrated the new strategic partnership between the U.S. Department of State and the India Semiconductor Mission, Ministry of Electronics and Information Technology in connection with the International Technology Security and Innovation (ITSI) Fund.

    The Leaders welcomed steps our industry is taking to build safe, secure, and resilient supply chains for U.S., Indian, and international automotive markets, including through Ford Motor Company’s submission of a Letter of Intent to utilize its Chennai plant to manufacture for export to global markets.

    The Leaders welcomed progress toward the first joint effort by NASA and ISRO to conduct scientific research onboard the International Space Station in 2025. They appreciated the initiatives and exchange of ideas under the Civil Space Joint Working Group and expressed hope that its next meeting in early 2025 will open additional avenues of cooperation. They pledged to pursue opportunities to deepen joint innovation and strategic collaborations, including by exploring new platforms in civil and commercial space domains.

    The Leaders also welcomed efforts to enhance collaboration between our research and development ecosystems. They plan to mobilize up to $90+ million in U.S. and Indian government funding over the next five years for the U.S.-India Global Challenges Institute to support high-impact R&D partnerships between U.S. and Indian universities and research institutions, including through identifying options to implement the Statement of Intent signed at the June 2024 iCET meeting. The Leaders also welcomed the launch of a new U.S.-India Advanced Materials R&D Forum to expand collaboration between American and Indian universities, national laboratories, and private sector researchers.

    The Leaders announced the selection of 11 funding awards between the National Science Foundation and India’s Department of Science and Technology, supported by a combined $5+ million grant to enable joint U.S.-India research projects in areas such as next-generation telecommunications, connected vehicles, machine learning. The Leaders announced the award of 12 funding awards under the National Science Foundation and Ministry of Electronics and Information Technology, research collaboration with a combined outlay of nearly $10 million to enable joint U.S.-India basic and applied research in the areas of semiconductors, next generation communication systems, sustainability & green technologies and intelligent transportation systems. Furthermore, NSF and MeitY are exploring new opportunities for research collaboration to enhance and synergize the basic and applied research ecosystem on both sides.

    The Leaders celebrated that India’s Department of Biotechnology (DBT) along with National Science Foundation of the United States announced the first joint call for collaborative research projects in February 2024 to address complex scientific challenges and innovate novel solutions that leverage advances in synthetic and engineering biology, systems and computational biology, and other associated fields that are foundational to developing future biomanufacturing solutions and advance the bioeconomy. Under the first call for proposals, joint research teams responded enthusiastically and results are likely to be announced by the end of 2024.

    The Leaders also highlighted additional cooperation we are building across artificial intelligence (AI), quantum, and other critical technology areas. They highlighted the second convening of the U.S.-India Quantum Coordination Mechanism in Washington in August and welcomed the announcement of seventeen new awards for binational research and development cooperation on artificial intelligence and quantum via the U.S.-India Science and Technology Endowment Fund (IUSSTF). They welcomed new private sector cooperation on emerging technologies, such as through IBM’s recent conclusion of memoranda of understanding with the Government of India, which will enable IBM’s watsonx platform on India’s Airawat supercomputer and drive new AI innovation opportunities, enhance R&D collaboration on advanced semiconductor processors, and increase support for India’s National Quantum Mission.

    The Leaders commended ongoing efforts to build more expansive cooperation around 5G deployment and next-generation telecommunications; this includes the U.S. Agency for International Development’s plans to expand the Asia Open RAN Academy with an initial $7 million investment to grow this workforce training initiative worldwide, including in South Asia with Indian institutions.

    The Leaders welcomed progress since the November 2023 signing of an MOU between the Commerce Department and the Ministry of Commerce and Industry to enhance the two countries’ innovation ecosystems under the “Innovation Handshake” agenda. Since then, the two sides have convened two industry roundtables in the U.S. and India to bring together startups, private equity and venture capital firms, corporate investment departments, and government officials to forge connections and to accelerate investment in innovation.

    Powering a Next Generation Defense Partnership

    President Biden welcomed the progress towards India concluding procurement of 31 General Atomics MQ-9B (16 Sky Guardian and 15 Sea Guardian) remotely piloted aircraft and their associated equipment, which will enhance the intelligence, surveillance and reconnaissance (ISR) capabilities of India’s armed forces across all domains.

    The Leaders recognized the remarkable progress under the U.S.-India Defense Industrial Cooperation Roadmap, including ongoing collaboration to advance priority co-production arrangements for jet engines, munitions, and ground mobility systems. They also welcomed efforts to expand defense industrial partnerships, including the teaming of Liquid Robotics and Sagar Defence Engineering for the co-development and co-production of unmanned surface vehicle systems that strengthen undersea and maritime domain awareness. The Leaders applauded the recent conclusion of the Security of Supply Arrangement (SOSA), enhancing the mutual supply of defense goods and services. Both Leaders committed to advance ongoing discussions on aligning their respective defense procurement systems to further enable the reciprocal supply of defense goods and services.

    President Biden welcomed India’s decision to set a uniform Goods and Services Tax (GST) of 5 percent on the maintenance, repair, and overhaul (MRO) sector, including on all aircraft and aircraft engine parts thereby simplifying the tax structure and paving the way for building a strong ecosystem for MRO services in India. The Leaders also encouraged the industry to foster collaboration and drive innovation to support India’s efforts to become a leading aviation hub. The Leaders welcomed commitments from U.S. industry to further increase India’s MRO capabilities, including for the repair of aircraft and unmanned aerial vehicles.

    The Leaders hailed the teaming agreement on the C-130J Super Hercules aircraft recently signed between Lockheed Martin and Tata Advanced Systems Limited, the two companies that co-chair the U.S.-India CEO Forum. Building on longstanding industry cooperation, this agreement will establish a new Maintenance, Repair and Overhaul (MRO) facility in India to support the readiness of the Indian fleet and global partners who operate the C-130 Super Hercules aircraft. This marks a significant step in U.S.-India defense and aerospace cooperation and reflects the two sides’ deepening strategic and technology partnership ties.

    The Leaders lauded the growing defense innovation collaboration between our governments, businesses, and academic institutions fostered by the India-U.S. Defense Acceleration Ecosystem (INDUS-X) initiative launched in 2023, and noted progress achieved during the third INDUS-X Summit in Silicon Valley earlier this month. They welcomed the enhanced collaboration between the Indian Ministry of Defence’s Innovations for Defence Excellence (iDEX) and US Department of Defence’s Defense Innovation Unit (DIU) through the Memorandum of Understanding signed at the Silicon Valley Summit. The efforts via the INDUSWERX consortium to facilitate pathways for defense and dual-use companies in the INDUS-X network to access premier testing ranges in both countries, were appreciated.

    The Leaders also recognized the clear fulfillment of the shared goal to build a defense innovation bridge under INDUS-X through the launch of “joint challenges” designed by the U.S. DoD’S DIU and the Indian MoD’s Defence Innovation Organization (DIO). In 2024, our governments have separately awarded $1+ million to U.S. and Indian companies that developed technologies focused on undersea communications and maritime intelligence, surveillance, and reconnaissance (ISR). Building on this success, a new challenge was announced at the most recent INDUS-X Summit that focused on Space Situational Awareness (SSA) in the Low Earth Orbit (LEO).

    The Leaders welcomed ongoing efforts to deepen our military partnership and interoperability to maintain a free and open Indo-Pacific, noting that India hosted our most complex, largest bilateral, tri-service exercise to date during the March 2024 TIGER TRIUMPH exercise. They also welcomed the inclusion of new technologies and capabilities, including a first-ever demonstration of the Javelin and Stryker systems in India, on the margins of the ongoing bilateral Army YUDH ABHYAS exercise.

    The Leaders welcomed the conclusion of the Memorandum of Agreement regarding the Deployment of Liaison Officers, and the commencement of deployment process of the first Liaison Officer from India in US Special Operations Command (SOCOM).

    The Leaders commended work to advance cooperation in advanced domains, including space and cyber, and looked forward towards the November 2024 bilateral cyber engagement to enhance the U.S.-India cyber cooperation framework. Areas of new cooperation will include threat information sharing, cybersecurity training, and collaboration on vulnerability mitigation in energy and telecommunications networks. The Leaders also noted the second U.S.-India Advanced Domains Defense Dialogue in May 2024, which included the first-ever bilateral defense space table-top exercise.

    Catalyzing the Clean Energy Transition

    President Biden and Prime Minister Modi welcomed the U.S.-India Roadmap to Build Safe and Secure Global Clean Energy Supply Chains, which launched a new initiative to accelerate the expansion of safe and secure clean energy supply chains through U.S. and Indian manufacturing of clean energy technologies and components. In its initial phase, the U.S. and India would work together to unlock $1 billion of multilateral financing to support projects across the clean energy value chain for renewable energy, energy storage, power grid and transmission technologies, high efficiency cooling systems, zero emission vehicles, and other emerging clean technologies.

    The Leaders also highlighted the U.S. International Development Finance Corporation (DFC)’s partnership with India’s private sector to expand clean energy manufacturing and diversify supply chains. To date, DFC has extended a $250 million loan to Tata Power Solar to construct a solar cell manufacturing facility and a $500 million loan to First Solar to construct and operate a solar module manufacturing facility in India.

    The Leaders lauded the strong collaboration under the Strategic Clean Energy Partnership (SCEP), most recently convened on September 16, 2024 in Washington DC to strengthen energy security, create opportunities for clean energy innovation, address climate change and create employment generation opportunities, including through capacity building, and collaboration between industry and R&D.

    The Leaders welcomed collaboration on a new National Center for Hydrogen Safety in India and affirmed their intent to utilize the new Renewable Energy Technology Action Platform (RETAP) to enhance collaboration on clean energy manufacturing and global supply chains, including through public-private task forces on hydrogen and energy storage.

    The Leaders also announced a new Memorandum of Cooperation between the U.S. Agency for International Development and the International Solar Alliance aimed at promoting more responsive and sustainable power systems that leverage diverse renewable energy sources.

    The Leaders reaffirmed their commitment to accelerate the development of diverse and sustainable supply chains for critical minerals under the Minerals Security Partnership targeting strategic projects along the value chain. The Leaders looked forward to the signing of the Critical Minerals Memorandum of Understanding at the forthcoming U.S.-India Commercial Dialogue and pledged to hasten bilateral collaboration to secure resilient critical minerals supply chains through enhanced technical assistance and greater commercial cooperation.

    The Leaders welcomed the progress made on joint efforts since 2023 for India to work toward IEA membership in accordance with the provisions of the Agreement on an International Energy Program.

    The two Leaders reaffirmed their commitment to accelerating the manufacturing and deployment of renewable energy, battery storage and emerging clean technology in India. They welcomed the ongoing progress between India’s National Investment and Infrastructure Fund (NIIF) and the U.S. International Development Finance Corporation to provide up to $500 million each to anchor the Green Transition Fund as well as encourage private sector investors to match these efforts. Both sides look forward to the expeditious operationalization of the Green Transition Fund.

    Empowering Future Generations and Promoting Global Health and Development

    The Leaders welcomed India’s signature and ratification of the Agreements under Pillar III, Pillar IV and the overarching Agreement on the Indo-Pacific Economic Framework for Prosperity (IPEF). The Leaders underscored that IPEF seeks to advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness of the economies of its signatories. They noted the economic diversity of the 14 IPEF partners that represents 40 percent of global GDP and 28 percent of global goods and services trade.

    President Biden and Prime Minister Modi celebrated the new U.S.-India Drug Policy Framework for the 21st Century and its accompanying Memorandum of Understanding, which will deepen collaboration to disrupt the illicit production and international trafficking of synthetic drugs and precursor chemicals, and deepen a holistic public health partnership.

    The two Leaders signaled their commitment to the objectives of the Global Coalition to Address Synthetic Drugs Threats and work towards combatting the threat of synthetic drugs and their precursors through mutually agreed initiatives to promote public health through coordinated actions.

    The Leaders applauded the first-ever U.S.-India Cancer Dialogue held in August 2024, which brought together experts from both countries to increase research and development to accelerate the rate of progress against cancer. The Leaders applauded the recently launched Bio5 partnership between the United States, India, ROK, Japan, and the EU, driving closer cooperation on pharmaceutical supply chains. The Leaders applauded the Development Finance Corporation’s $50 million loan to Indian company Panacea Biotech to manufacture hexavalent (six-in-one) vaccines for children, reaffirming our joint commitment to advance shared global health priorities, including bolstering support for primary healthcare.

    The leaders welcomed the signing of Memorandum of Understanding (MoU) between the Ministry of Micro, Small and Medium Enterprises and Small Business Administration for promoting cooperation between U.S. and Indian small and medium-size enterprises by improving their participation in the global market place through capacity building workshops in areas such as trade and export finance, technology and digital trade, green economy and trade facilitation. The MoU also provides for the joint conduct of programs for women entrepreneurs to empower them and facilitate trade partnership between women-owned small businesses of the two countries. The Leaders celebrated that, since the June 2023 State visit, the Development Finance Corporation has invested $177 million across eight projects to support Indian small businesses and drive economic growth.

    The Leaders welcomed enhanced cooperation on agriculture between the U.S. Department of Agriculture and India’s Ministry of Agriculture and Farmers Welfare, in areas such as climate-smart agriculture, agriculture productivity growth, agriculture innovation, and sharing best practices related to crop risk protection and agriculture credit. The two sides will also enhance cooperation with the private sector through discussions on regulatory issues and innovation to enhance bilateral trade.

    The Leaders welcomed the formal launch of the new U.S.-India Global Digital Development Partnership, which aims to bring together U.S. and Indian private sector companies, technology and resources to deploy the responsible use of emerging digital technologies in Asia and Africa.

    The Leaders welcomed strengthened trilateral cooperation with Tanzania through the Triangular Development Partnership, led by the U.S. Agency for International Development and India’s Development Partnership Administration to jointly address global development challenges and foster prosperity in the Indo-Pacific. The partnership focuses on advancing renewable energy projects, including solar energy, to enhance energy infrastructure and access in Tanzania, thereby bolstering energy cooperation in the Indo-Pacific. They also desired to explore the expansion of the triangular development partnership in areas of health cooperation, particularly for critical technical areas of mutual interest including digital health and capacity building of nurses and other frontline health workers.

    The Leaders acknowledged the July 2024 signing of a bilateral Cultural Property Agreement that will facilitate implementation of the 1970 Convention on the Means of Prohibiting and Preventing the Illicit Import, Export, and Transfer of Ownership of Cultural Property. The agreement marked the culmination of years of diligent work by experts from both countries and fulfills President Biden’s and Prime Minister Modi’s commitment to enhance cooperation to protect cultural heritage highlighted in the joint statement when they met in June 2023. In this context, the leaders welcomed the repatriation of 297 Indian antiquities from the U.S. to India in 2024.

    The Leaders look forward to building on India’s ambitious G20 presidency to deliver on shared priorities for the G20 Leaders’ Summit in Rio de Janeiro, including: bigger, better, and more effective MDBs, including by following through on Leaders’ pledges in New Delhi to boost the World Bank’s capacity to help developing countries address global challenges, while recognizing the imperative of achieving the sustainable development goals; a more predictable, orderly, timely and coordinated sovereign debt restructuring process; and a pathway to growth for high-ambition developing countries that are facing financing challenges amid mounting debt burdens by increasing access to finance and unlocking fiscal space taking into account country specific circumstances.

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  • MIL-OSI USA: Darren Soto voted for more sanctuary city hellscapes

    Source: US National Republican Congressional Committee

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


    September 20, 2024


    Darren Soto just voted for American taxpayers to foot the bill for liberals’ radical and unsafe sanctuary cities.

    For years, ICE has warned that sanctuary jurisdictions create a “public safety threat,” but can’t help themselves and support dangerous far-left open border policies that put their communities at risk.

    “Even when sanctuary cities are proven to be a ‘public safety threat,’ Darren Soto can’t help but put his far-left open borders agenda ahead of the safety of his communities. Taxpayers don’t deserve to pay for Democrats’ crime-ridden hellscapes.” — NRCC Spokeswoman Delanie Bomar


    MIL OSI USA News

  • MIL-OSI USA: Vicente Gonzalez voted for more sanctuary city hellscapes

    Source: US National Republican Congressional Committee

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


    September 20, 2024


    Vicente Gonzalez just voted for American taxpayers to foot the bill for liberals’ radical and unsafe sanctuary cities.

    For years, ICE has warned that sanctuary jurisdictions create a “public safety threat,” but can’t help themselves and support dangerous far-left open border policies that put their communities at risk.

    “Even when sanctuary cities are proven to be a ‘public safety threat,’ Vicente Gonzalez can’t help but put his far-left open borders agenda ahead of the safety of his communities. Taxpayers don’t deserve to pay for Democrats’ crime-ridden hellscapes.” — NRCC Spokeswoman Delanie Bomar


    MIL OSI USA News

  • MIL-OSI USA: Sharice Davids voted for more sanctuary city hellscapes

    Source: US National Republican Congressional Committee

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


    September 20, 2024


    Sharice Davids just voted for American taxpayers to foot the bill for liberals’ radical and unsafe sanctuary cities.

    For years, ICE has warned that sanctuary jurisdictions create a “public safety threat,” but can’t help themselves and support dangerous far-left open border policies that put their communities at risk.

    “Even when sanctuary cities are proven to be a ‘public safety threat,’ Sharice Davids can’t help but put her far-left open borders agenda ahead of the safety of her communities. Taxpayers don’t deserve to pay for Democrats’ crime-ridden hellscapes.” — NRCC Spokeswoman Delanie Bomar


    MIL OSI USA News

  • MIL-OSI USA: Titus and Horsford voted for more sanctuary city hellscapes

    Source: US National Republican Congressional Committee

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


    September 20, 2024


    Dina Titus and Steven Horsford just voted for American taxpayers to foot the bill for liberals’ radical and unsafe sanctuary cities.

    For years, ICE has warned that sanctuary jurisdictions create a “public safety threat,” but can’t help themselves and support dangerous far-left open border policies that put their communities at risk.

    “Even when sanctuary cities are proven to be a ‘public safety threat,’ Titus and Horsford can’t help but put their far-left open borders agenda ahead of the safety of their communities. Taxpayers don’t deserve to pay for Democrats’ crime-ridden hellscapes.” — NRCC Spokeswoman Delanie Bomar


    MIL OSI USA News

  • MIL-OSI Security: Sin City Deciples Founder Sentenced to 360 Months in Prison

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

    HAMMOND- Kenneth Christopher McGhee a/k/a “Sonny,” “Angel,” age 75, of Gary, Indiana, was sentenced by United States District Court Judge Philip P. Simon after being found guilty of racketeering conspiracy, conspiracy to possess with intent to distribute cocaine, and being a drug user in possession of a firearm following an 18-day jury trial, announced United States Attorney Clifford D. Johnson.

    McGhee was sentenced to 360 months in prison followed by 3 years of supervised release.

    According to court documents, the Sin City Deciples, originally formed in 1967 in Gary, Indiana, is an outlaw motorcycle organization in which its members and associates engaged in acts of violence, extortion, and narcotics distribution in the Northern District of Indiana and elsewhere.  McGhee served as the “Founder” of the entire club and lead the conspiracy for decades, including during the charged period between 2009-2021.  As the “Founder,” McGhee commanded and oversaw multiple acts of extortion and violence, including attempted murder, conspiracy to commit murder in retaliation for the death of a fellow Sin City member, and conspiracy to distribute large amounts of cocaine.  At the time of his arrest, he unlawfully possessed at least 8 firearms and hundreds of rounds of ammunition.

    The agencies involved in this prosecution were: the Bureau of Alcohol, Tobacco, Firearms and Explosives, the East Chicago Police Department, the Federal Bureau of Investigation, the Gary Police Department, the Griffith Police Department, the Hammond Police Department, the Internal Revenue Service-Criminal Investigation Division, the Lake County Sheriff’s Department, Indiana High Intensity Drug Trafficking Area officers and agents, the Merrillville Police Department, the Munster Police Department, and the Schererville Police Department.   Also providing assistance were the Lake County Prosecutor’s Office, the U.S. Attorney’s Offices for the Eastern District of Arkansas, the Northern District of Illinois, the Southern District of Indiana, the Western District of Kentucky, and the Western District of Pennsylvania.

    This case was prosecuted by Assistant United States Attorneys David J. Nozick and Michael J. Toth.  

    This case was part of an Organized Crime Drug Enforcement Task Force (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

    This case was also part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    MIL Security OSI

  • MIL-OSI Security: Woman admits to submitting false disaster relief applications resulting in $620,000 loss

    Source: United States Department of Justice (National Center for Disaster Fraud)

    HOUSTON – A 34-year-old former Houston resident has pleaded guilty to conspiracy to commit wire fraud, announced U.S. Attorney Alamdar S. Hamdani.

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

    The co-conspirators submitted false applications to the Small Business Administration (SBA), Federal Emergency Management Agency (FEMA) and multiple state unemployment insurance agencies.

    Over the course of the conspiracy, Custard resided in both Houston and San Antonio.

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

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

    Further investigation revealed Custard filed at least 30 fraudulent FEMA Disaster Benefit applications related to Hurricane Laura in August 2020 and Hurricane Sally in September 2020. At least 16 of those fraudulent applications resulted payouts totaling approximately $75,000.

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

    Due to her actions, multiple agencies lost a total of $620,000.

    U.S. District Judge David Hittner will impose sentencing in January 2025. At that time, Custard faces up to five years in federal prison and a possible $250,000 maximum fine.

    She was permitted to remain on bond pending that hearing.

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

    Assistant U.S. Attorney Karen M. Lansden is prosecuting the case.

    MIL Security OSI

  • MIL-OSI USA News: Remarks by President  Biden and First Lady Jill  Biden Before Cabinet  Meeting

    Source: The White House

    11:37 A.M. EDT

    THE PRESIDENT:  Well, good morning.  I guess it’s still morning, isn’t it?  Yep.

    Before I begin this Cabinet meeting, I want to discuss very briefly the need for Congress to pass a continuing resolution.  It’s critical.  And we have 10 days for Congress to pass a short-term funding bill that gives them more time to deliver on our national defense, veterans, hardworking families — what we’ve already appropriated.  It’s important we get it done.

    And it’s the only path forward, b- — it’s by working across the aisle.  We got to have faith that our leaders will pull this together.  It’s really important.  It’s a — and — to fund the government. 

    And — and so, this Cabinet meeting comes at a time when we have four months left in the administration.  And we’re going to keep running through the tape because the vice president and I are determined to keep making sure that the democracy delivers what the American people are asking for and what we provided.

    That means continuing to implement the historic laws we’ve passed.  They’ve allowed us to invest in America, rebuild our infrastructure, and implement our historic laws. 

    So, we’re grateful that Jill is here today.  (Laughter.)  I heard that clapping — it wasn’t for me — when we came in.

    And here, across previous administrations, first ladies have attended these meetings and on — for specific reasons.  It’s the first time Jill has joined us.  And it goes to show how important the issue is, what she’s about to speak to, to both of us.

    Today, at the top of our meeting, Jill is going to give an update on the House initiative — White House initiative to fundamentally change the approach and fund — on how we approach and fund women’s health services.

    So, I’d like to turn it over to Jill and — for any comments she has. 

    THE FIRST LADY:  Thanks, Joe.

    THE PRESIDENT:  And it’s all yours, kid.

    THE FIRST LADY:  Thank you.

    You know, sometimes the White House surprises you.  When Joe became president, I knew I wanted to keep shining a light on the issues that I’d worked on for so many years: supporting military and veteran families, ending cancer as we know it with the Biden Cancer Moonshot, lifting up educators, and promoting free community college as a pathway to good-paying careers.

    But then last year, I learned about — more about gaps — huge gaps in our understanding of women’s health.  Our nation is home to the best health research in the world, yet women’s health is understudied and research is underfunded.  And we still know too little about how to affectively prevent, diagnose, and treat a range of health conditions in women, from heart disease to cancers.

    It was one of those moments where you can never see the world the same way again.  And I knew that I had to add this to my portfolio. 

    So, last November, Joe and I launched the first-ever White House Initiative on Women’s Health Research.  And what has never surprised me about the White House is that when you have a great team, which Joe has in all of you, you can bring about solutions quickly.

    I’m here, my first time at a Cabinet meeting, to thank you for the incredible progress we’ve made on women’s health research, all in less than a year.

    Joe directed federal departments and agencies to prioritize women’s health research and innovation, and you responded.

    In February, ARPA-H, the agency Joe created to pursue breakthrough health research, at lightning speed, launched its first-ever Sprint for Women’s Health.  The $100-million investment will fund innovations that will be life-changing for women.

    Then, a month later, NIH committed another $200 million to fund interdisciplinary women’s health research, for ex- — for example, looking at how menopause affects heart health, brain health, and bone health.

    In May, the Department of Defense and the VA launched a new joint effort to improve research for women in the military and for women veterans.

    On Monday, I’ll be at the Clinton Global Initiative to make a new announcement, and we will share more then.

    In June, the Department of Health and Human Services announced new funding to address the unique mental health and substance use treatment needs of women.

    Your agencies are strengthening standards so that when the government funds research, it includes women from the beginning.  That means making sure women are enrolled in clinical trials and that researchers design studies, analyze data, and report finding[s] in ways that improve women’s health.

    Joe’s executive order directed the most comprehensive set of actions that any president has ever taken to advance women’s health research.  And in his State of the Union Address, he asked Congress for $12 billion to secure the bold and transformative health discoveries we need.

    Our White House initiative has built momentum for health research focused on women, but we have to keep moving forward.  We have to keep wok- — working across government and the private sector to incentive innovative health research for women.

    It’s time to write a new story of health care in this country, one where women get the answers we need, where the United States continues to be home to the most cutting-edge research in the world, and where everyone can lead healthier lives.

    Thank you.  (Applause.)

    (Cross-talk.)

    Q    Mr. President, is it realistic to get to a ceasefire?

    Q    Mr. President, what do (inaudible)?

    (Cross-talk.)

    THE PRESIDENT:  On the peace process, we’re continuing to try to do what we’ve tried from the beginning to make sure that both the people in Northern Israel as well as Southern Lebanon are able to go back to their homes and go back safely.  And the secretary of State, the secretary of Defense, our whole team is working — the intelligence community — to try to get that done.  And we’re going to keep at it until we get it done.  But we’ve got a way to go.

    (Cross-talk.)

    Q    Is it realistic? 

    (Cross-talk.)

    THE PRESIDENT:  Shh.  Hey.

    Q    Is it realistic to get to a ceasefire deal, or have too many bad things happened that make it difficult?

    THE PRESIDENT:  If I ever said it’s not realistic, we might as well leave.

    A lot of things don’t look realistic until we get them done.  We have to keep at it.

    Thank you.

    11:45 A.M. EDT

    MIL OSI USA News

  • MIL-OSI USA News: FACT SHEET: Biden-⁠ Harris Administration Highlights New Actions to Support Women’s Economic  Security

    Source: The White House

    Today, the Biden-Harris Administration is announcing new resources to support women’s economic security and convening stakeholders to discuss the Biden-Harris Administration’s efforts to ensure that women age with the financial security that they deserve.
     
    Under the leadership of President Biden and Vice President Harris, working age women’s labor force participation is the highest on record, the gender pay gap has narrowed, and the Administration is ensuring that women have access to good jobs and safe workplaces free from discrimination.  Still, women—and women of color in particular—experience workplace inequities throughout their lives, including as a result of discrimination, pay disparities, occupational segregation, and unpaid caregiving responsibilities.  These inequities can add up to millions of dollars lost over the course of a lifetime and contribute to a retirement savings gap between men and women.  While women typically retire with less savings than men, they are also living longer—thereby, experiencing more financial strain as they age.  
     
    The Council of Economic Advisers is releasing a new issue brief on the Economic Security of Older Women highlighting the economic challenges that compound over the course of a woman’s life and underscoring that women are more vulnerable to economic shocks.  The issue brief also highlights Biden-Harris Administration policies that have helped mitigate these challenges and ensure women’s economic security as they age.
     
    Since Day One, President Biden and Vice President Harris have fought to improve women’s economic security and protect and strengthen Social Security, Medicare, and Medicaid—lifelines for millions of women.  From lowering prescription drug costs for millions of seniors through the historic Inflation Reduction Act to issuing new rules to ensure that the financial advice that Americans get for retirement is in their best interest, the Biden-Harris Administration is taking action to support women’s financial security.  The Biden-Harris Administration is also closing gaps in women’s health research, ensuring that women enter retirement more securely, supporting families’ access to care, and protecting women from financial fraud and scams. 
     
    As part of the ongoing efforts to support women’s economic security, the Biden-Harris Administration is announcing the following new actions:
     
    Supporting Employment Training and Housing for Seniors. The Department of Labor (DOL)—through the Senior Community Service Employment Program—is awarding more than $200 million in new grants to support training and employment for older adults.  Through these grants, participants—the majority of whom are women—are connected to jobs, gaining critical workplace skills and a pathway to financial stability.  The Department of Health and Human Services (HHS) is announcing nearly $3 million in funding for the Elder Justice Innovation Grants.  Because traditional emergency housing options often cannot meet the needs of older adults, older women experiencing abuse are often forced to return to unsafe environments; these funds will support emergency and transitional housing tailored to the needs of older women.
     
    Providing New Resources to Help Support Women’s Retirement Security.  HHS is announcing a new guide to services and resources—including tools for retirement planning and financial literacy—to assist women in planning for a healthy financial future in older age.  DOL is publishing resources to assist women navigating challenging retirement scenarios, including a new effort to educate attorneys and advocates on qualified domestic relations orders, a critical step in dividing a couple’s retirement assets in the event of a divorce.  The Department of Treasury is publishing a new issue brief on the unique challenges that many women face in retirement, and how the Biden-Harris Administration’s implementation of the SECURE 2.0 Act—including the Saver’s Match, emergency savings provisions, and expanded coverage for part-time workers—will help mitigate the gender retirement savings gap.  And the Social Security Administration is releasing a new resource for women and their families about how they can better access Social Security benefits and services.  

    Protecting Women’s Earnings and Savings.  The Consumer Protection Financial Bureau (CFPB) is announcing new efforts to help older women—who are more vulnerable to certain financial frauds and scams—protect their hard-earned savings.  Today, the CFPB spotlighted the legal challenges faced by surviving spouses—often women—who may be pursued for their spouse’s medical debt.  Some states have enacted laws making clear that surviving spouses are not responsible for their deceased partners’ debts, and others limit the circumstances in which a surviving spouse is responsible; however, the CFPB has found that debt collectors may try to capitalize on a surviving spouse’s vulnerabilities by attempting to collect their deceased spouse’s unpaid medical bills without real consideration of whether the surviving spouse actually owes the debt.  This follows the CFPB’s proposed rule earlier this year, announced by Vice President Harris, which proposed to remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to coerce people to pay.  The CFPB will also release a report on the barriers that older Americans face in banking that financial institutions must work to address, including loss of a spouse, cognitive challenges, and changes in health.  The Equal Employment Opportunity Commission is releasing a new resource highlighting enforcement activities and public education efforts to combat sex and age discrimination.
     
    Today’s announcements build on the Biden-Harris Administration’s actions to help ensure women age with financial security, including—
     
    Lowering Health Care Costs for Women
     
    The President and Vice President believe that health care is a right, not a privilege, and have expanded health care to millions more Americans while lowering health care costs.  The Administration continues to build on, strengthen, and protect Medicare, Medicaid, and the Affordable Care Act and has signed historic new laws to lower prescription drug costs and health insurance premiums.  The President’s prescription drug law, the Inflation Reduction Act, is directly benefiting women with Medicare, including nearly 30 million women enrolled in Medicare Part D.  These actions are especially important for women, who typically face higher health care costs than men and who are more likely than men to take less medication than was prescribed because of cost—with even greater disparities for women of color.  To help address these challenges, the Biden-Harris Administration is:

    • Lowering the Cost of Insulin.  The Administration is delivering on the President’s promise to lower health care costs by capping seniors’ insulin costs at $35 for a month’s supply.  As a result, all 3.4 million Medicare Part D enrollees who filled an insulin prescription in 2023 had their insulin costs capped at $35 per month, saving some seniors hundreds of dollars for a month’s supply and lowering costs for about 733,000 women enrolled in Part D and B.
    • Capping Out-of-Pocket Prescription Drug Costs. Under the President’s leadership, HHS is implementing a $2,000 out-of-pocket cap for prescriptions drugs costs for Medicare Part D enrollees.  In 2025, when the cap goes into effect, nearly 19 million seniors and other beneficiaries are projected to save $400 per year on prescription drugs. 
    • Lowering the Cost of Prescription Drugs. For the first-time ever, the Administration announced new, lower prices for the first ten drugs selected for Medicare drug price negotiations, including for drugs that women disproportionately use.  For example, one of the first 10 drugs is Enbrel—an arthritis treatment; women comprise 72 percent of the enrollees who use Enbrel; a woman with Medicare who takes Enbrel and pays $1,777 today for a 30-day supply would pay only $589 to fill her prescription when the negotiated prices take effect—a 67% decrease in out-of-pocket costs.
    • Lowering the Cost of Health Insurance. Millions of women are saving an average of $800 on health insurance premiums thanks to the Administration’s expansion of the Premium Tax Credit.  This expansion has helped drive health insurance coverage to a record high, while the Affordable Care Act continues to ensure that insurance companies cannot charge women more just because of their gender.

    Supporting Women’s Financial Security

    The Biden-Harris Administration is committed to ensuring that women are supported throughout their working lives—by ensuring access to high-quality jobs, robustly enforcing workplace antidiscrimination laws, and closing gender wage gaps—and as they enter retirement.  The Administration is working to ensure women’s financial security as they age by:

    • Safeguarding Social Security Equity and Efficiency.  Social Security is the bedrock of financial security for American seniors and for millions of Americans with disabilities.  President Biden and Vice President Harris are committed to protecting and strengthening Social Security.  SSA also administers the Supplemental Security Income (SSI) program, which provides monthly payments to people with disabilities and older adults who have little or no income and resources; older women are more likely than older men to rely on SSI, making up 64% of SSI recipients aged 65 or older.  To simplify and increase access for individuals, SSA announced the first phase of an online, streamlined SSI application; published three final rules simplifying how non-monetary support from friends and family is counted; and initiated efforts to expedite decisions for people with severe disabilities.  SSA has also deployed a targeted outreach strategy to ensure that beneficiaries are aware of the benefits SSA pays to widowed and divorced spouses and dependents of eligible workers—a population disproportionately comprised of older women.  To help ensure that all beneficiaries receive the benefits that they are entitled to, SSA is also translating more materials into more languages, improving access to interpretation services, and developed a Limited English Proficiency Toolkit.  The Biden-Harris Administration is fighting to ensure that SSA has the funding they need to continue administering these crucial programs.
    • Protecting Women’s Retirement Savings.  Earlier this year, DOL issued a final rule to close loopholes and ensure that the financial advice that Americans get for retirement is in their best interest.  DOL’s rule will protect the millions of Americans, including millions of women, who are diligently saving for retirement when they rely on advice from trusted professionals on how to invest their savings.  The rule will require trusted investment advice providers to give prudent, loyal, and honest advice, and prevent them from providing recommendations that favor the investment advice providers’ interests—financial or otherwise—at retirement savers’ expense.  These new safeguards will save tens or even hundreds of thousands of dollars per impacted middle-class saver.  The Administration is also implementing the SECURE 2.0 Act, which allows survivors of domestic abuse to elect to receive penalty-free distributions from an employer-sponsored retirement plan. 
    • Providing Housing Security for Vulnerable Women. The Department of Housing and Urban Development continues to support housing for older Americans, including through the Home Equity Conversion Mortgages for Seniors program, which allows seniors to withdraw a portion of their home equity for additional income, and the 202 program, which offers direct loans and capital for the provision of secure and supportive housing facilities for older persons.  These programs—which predominantly support older women— allow senior homeowners to age in place and help expand the supply of affordable housing by providing low-income older Americans with options that allow them to live independently but in an environment that provides support for daily necessities. 

    Supporting Families’ Access to Care

    The Biden-Harris Administration—through implementation of the President’s Care Executive Order—is working to ensure that older women have the support they need as they age as well as to care for the ones they love.  Even as older adults require care, they are also often the ones who provide it.  One in four older women provide some form of unpaid caregiving, and, without training and support, their health, well-being, quality of life, and financial future can suffer.  The Administration is supporting families’ access to care by:

    • Ensuring Safety and Quality Care in Long-Term Care Facilities. Adequate staffing is proven to be one of the measures most strongly associated with safety and good care outcomes.  To ensure safety and quality care, earlier this year, Vice President Harris announced that HHS finalized a rule to require all nursing homes that receive federal funding through Medicare and Medicaid to have 3.48 hours per resident per day of total staffing, including a defined number from both registered nurses and nurse aides.  This means a facility with 100 residents would need at least two or three registered nurses and at least ten or eleven nurse aides as well as two additional nurse staff (which could be registered nurses, licensed professional nurses, or nurse aides) per shift to meet the minimum staffing standards.  Many facilities would need to staff at a higher level based on their residents’ needs.  It will also require facilities to have a registered nurse onsite 24 hours a day, seven days a week, to provide skilled nursing care, which will further improve nursing home safety.   And HHS released a new “know-your-rights” resource for women to ensure that women can access safe and culturally competent health care free from discrimination and with protections to their privacy. 
    • Supporting Family Caregivers. Through the American Rescue Plan, the Administration provided $145 million to help the National Family Caregiver Support Program deliver counseling, training, and short-term relief to family caregivers and other informal care providers.  HHS issued a report documenting actions taken by the Biden-Harris Administration to implement the first-ever National Strategy to Support Family Caregivers; these actions have created new initiatives that directly support family caregivers, strengthened existing programs, and improved coordination across the federal government to improve the lives of family caregivers.  HHS has also taken steps to support family caregivers’ access to training and beneficiary information during the hospital discharge planning process, published the Guiding and Improving Dementia Experience Model to support people living with dementia and their caregivers, and announced new funding opportunities to develop new approaches to support family caregivers.  HHS also published a guide to help older women find programs and services—such as respite care, support groups and individual counseling—to help them maintain their own health and well-being while being a caregiver for others.  And the Department of Veterans Affairs (VA) launched a program to provide mental health counseling services to family caregivers caring for our nation’s heroes.  
    • Investing in Care Infrastructure and Supporting Caregivers and Care Workers. The Administration is committed to raising the wages and quality of care worker jobs, and to investing in care infrastructure. In March 2024, SBA announced new funding opportunities to support small businesses in the child care sector as well as the creation of a child care business development guide, which will provide resources for child care businesses on starting and running a business throughout the business life cycle.  In addition, SBA is launching a lender campaign to highlight the resources SBA has available to support small, minority-owned, and women-owned businesses, including child care businesses, and will discuss additional reforms to support the growth of child care capacity across the country.  The Administration is also taking steps to ensure Service members and military spouses—the vast majority of whom are women—have the support they need to care for themselves and their families while serving our country, including by strengthening hiring and retention of military spouses across the federal government, and expanding access to child care and other employment resources.  And the Department of Labor has published sample employment agreements so domestic home care, child care, and long-term care workers and their employers can help ensure all parties better understand their rights and responsibilities.

    Protecting Women from Financial Fraud and Scams

    The Biden-Harris Administration is working to protect the savings that older Americans have worked their entire lives to build. Each year, Americans over 60-years-old lose billions of dollars to scams.  The Federal Trade Commission (FTC), the Consumer Financial Protection Bureau, and other regulatory agencies are taking action to crack down on frauds and scams that too often target older Americans by—

    • Protecting Older Women from Financial Fraud. FTC is pursuing actions against scammers who target or disproportionately impact older adults in their schemes, including those who conduct prize, sweepstakes, and lottery scams; tech support scams; and family and friend impersonation.  Last year, FTC’s past enforcement efforts resulted in relief of more than $285 million to consumers.
    • Equipping Older Women with Tools and Resources to Protect Against Scams.  FTC chairs the Scams Against Older Adults Advisory Group focused on expanding consumer education and outreach efforts; improving industry training on scam prevention; identifying innovative or high-tech methods to detect and stop scams; it has produced a report on what research shows are effective tactics in scam-prevention messaging.  And the CFPB has released resources to assist older adults—who are disproportionately women—navigate later-in-life challenges, such as resources to navigate critical financial moments after losing a spouse; tools to avoid financial exploitation; and information to help safeguard finances

    ###

    MIL OSI USA News

  • MIL-OSI Europe: Answer to a written question – Macro-financial assistance to Egypt under Article 213 TFEU – P-001033/2024(ASW)

    Source: European Parliament

    While the United Arab Emirates investment alleviated external pressures in the past fiscal year 2023/24, Egypt still faces sizeable financing needs going forward, as identified by the International Monetary Fund, amid a critical economic situation and risks from the geopolitical situation.

    The current crises have exacerbated financing needs, with a substantial financing gap already in the new fiscal year 2024/25. To help address this, it is urgent that the EU is in a position to disburse the first part of the Macro-financial assistance (MFA) package to Egypt still this year.

    Egypt has seen strong balance of payment pressure, partly due to the Russian war of aggression against Ukraine and the Israel-Hamas conflict that followed the 7 October 2023 Hamas’ terrorist attacks across Israel, which is feeding into the country’s substantial external financing needs. Egypt’s current account deficit expanded significantly in the fourth quarter of 2023 due to a worsening trade deficit and lower remittances.

    Moderate growth in tourism, combined with growing services payments led to a 12% quarter-on-quarter drop in the services surplus. Modest remittances (down 11% year on year) did not provide much support.

    Revenues from the Suez canal, one of the most important sources of foreign currency, fell by 23% during the fiscal year 2023/2024 compared to the previous fiscal year.

    MFA operations are typically not unconditional. On the contrary, the partner country agrees to undertake a number of policy reforms to address the root causes of its problem.

    This is also true for the first operation with Egypt, where actions have been agreed to foster macroeconomic stability and resilience; strengthen competitiveness and business environment; and support the green transition.

    On the political side, respect and protection of human rights and fundamental freedoms are important in The EU’s relations with Egypt.

    In line with the Association Agreement, the Partnership Priorities and the Joint Declaration on the Strategic and Comprehensive partnership[1], the Commission will continue to work together with Egypt to further promote democracy, fundamental freedoms, and human rights, gender equality and equal opportunities.

    As stipulated in Article 2 of the Council Decision (EU) 2024/1144 on the provision of the short-term macro-financial assistance, Egypt shall make concrete and credible steps towards respecting effective democratic mechanisms, the rule of law, and guaranteeing respect for human rights. The assessment of progress made in this respect is part of the disbursement process.

    The Commission services will work closely with the European External Action Service in monitoring the adoption and implementation of such steps.

    • [1] https://neighbourhood-enlargement.ec.europa.eu/news/joint-declaration-strategic-and-comprehensive-partnership-between-arab-republic-egypt-and-european-2024-03-17_en

    MIL OSI Europe News

  • MIL-OSI USA: Huizenga Announces Legislation to Protect Taxpayer Dollars From Funding the Taliban

    Source: United States House of Representatives – Congressman Bill Huizenga (MI-02)

    Today, Congressman Bill Huizenga (R-MI) announced the introduction of H.R. 9503, the Protecting Taxpayer Dollars from Taliban Theft Act. In May 2024, the Special Inspector General for Afghanistan Reconstruction (SIGAR) found that at least $10.9 million in U.S. taxpayer dollars went to the Taliban in the form of taxes, fees, duties, and utilities. Even more troubling, since the Biden-Harris Administration’s withdrawal from Afghanistan, the report found that neither the State Department nor USAID have a true accounting of the amount of U.S. taxpayer dollars that were paid to the Taliban by relief organizations operating in Afghanistan and funded by American taxpayers.

    “After leaving billions of dollars in taxpayer funded military equipment in the hands of the Taliban, the Biden-Harris Administration continues to fail American taxpayers,” said Congressman Bill Huizenga. “It is an absolute disgrace that the Biden-Harris Administration has failed to set up the appropriate safeguards to ensure American taxpayer dollars do not flow into the coffers of the Taliban. With interest payments on our national debt now exceeding what we spend on defense, the federal government must make every effort to end waste, fraud, and abuse of taxpayer dollars. The Protecting Taxpayer Dollars from Taliban Theft Act is a commonsense measure that will save millions of taxpayer dollars from being wasted and funding the oppressive Taliban regime.”

    The Protecting Taxpayer Dollars from Taliban Theft Act takes the following actions:

    • Prohibits US taxpayer dollars in the form of taxes, fees, duties, and utilities from being paid to the Taliban.
    • Requires the State Department and USAID to promulgate reporting regulations for any payments or withholdings made to the Taliban, state-owned enterprises, or governing institutions in Afghanistan by an implementing partner receiving funding from American taxpayers.
    • Requires the State Department and USAID to amend existing grants and contracts to include language prohibiting these activities.

    Last week, Republicans on the House Foreign Affairs Committee released a report detailing the Biden-Harris Administration’s disastrous withdrawal from Afghanistan. Read the report here.

    The Protecting Taxpayer Dollars from Taliban Theft Act is cosponsored by: House Foreign Affairs Committee Chairman Michael McCaul, Congresswoman Maria Salazar, Congressman Mike Lawler, Congressman Keith Self, Congressman Jim Baird, Congressman Warren Davidson, Congressman Michael Guest, Congressman Ben Cline, Congressman Ralph Norman, Congressman Randy Weber, Congressman Josh Brecheen, and Congressman Byron Donalds.

    MIL OSI USA News

  • MIL-OSI USA: Bipartisan Legislation Introduced to Promote U.S.-Israel Energy Development Cooperation

    Source: United States House of Representatives – Representative Brad Schneider (D-IL)

    Washington DC – Today, U.S. Reps. Debbie Wasserman Schultz (FL-25), Buddy Carter (GA-01), Joe Wilson (SC-02), and Brad Schneider (IL-10) announced the introduction Thursday of the BIRD Energy and U.S.-Israel Energy Center Reauthorization Act of 2024. This bipartisan legislation expands upon the U.S.-Israel energy cooperation program, increasing funding and extending the program through 2034 to advance clean energy technologies, improve energy security, and foster economic innovation in both nations.

    The BIRD Energy program has consistently demonstrated its success, supporting 49 projects with a combined investment of more than $38 million. These initiatives have driven advancements in clean energy technologies and fostered strong U.S.-Israel collaboration.

    “By renewing and expanding this vital partnership, we can leverage our combined resources to tackle the most pressing energy challenges of today, while supporting clean energy innovation and job creation in both the U.S. and Israel,” said Rep. Wasserman Schultz. “This legislation will drive advancements in energy storage, cybersecurity for energy infrastructure, renewable energy, and more.”

    “The BIRD Energy partnership allows both the U.S. and Israel to develop the next generation of clean energy technology. This initiative not only strengthens our economic ties but also accelerates innovation, which is the key to protecting our environment while growing our economy,” said Rep. Carter. “Together, we can create a reliable, affordable clean energy sector, and reauthorizing the BIRD program is a critical step in getting us there.”

    “Reauthorizing the BIRD Energy program is an important demonstration of the strong partnership with our ally Israel, making lasting investments in the future of clean energy. By collaborating on cutting-edge technologies, we can enhance our energy security, create good-paying jobs, and contribute to the global fight against climate change,” said Rep. Schneider. “The success of this program proves that when nations come together with a shared goal, we can make meaningful strides toward a cleaner, safer, and more prosperous future.”

    “I am grateful to cosponsor this important bipartisan bill that will further critical U.S.-Israel cooperation on the energies of the future like hydrogen and fusion as well as the technologies to modernize and protect our energy infrastructure. U.S.-Israel energy cooperation brings together the best of both nations’ capabilities to advance our joint energy goals,” said Rep. Wilson “It is imperative that we deepen and expand our cooperation with our valued ally Israel across all sectors to ensure we can meet the challenges of tomorrow.”

    The BIRD Energy program has sparked partnerships between Israel and U.S. companies resulting in the development of innovative flexible solar panels for wireless electronics. Another collaboration led to solar energy production systems that operate over water reservoirs.

    By focusing on innovative solutions like solar energy, smart grid systems, and energy efficiency, BIRD Energy has significantly enhanced both countries’ energy security while contributing to global progress in the clean energy sector.

    The U.S.-Israel Energy Cooperation program, established in 2009, has supported the commercialization of clean energy technologies and played a key role in improving both countries’ energy competitiveness. Read the entire bill here.

     

    ####

    MIL OSI USA News

  • MIL-OSI USA: Southern California Man Pleads Guilty to Preparing False Tax Returns

    Source: US State of California

    A Southern California man pleaded guilty yesterday to preparing and filing false tax returns for his clients.

    According to court documents and statements made in court, starting in 2013, Salvador Gonzalez, of Corona, operated Grace’s Lighthouse Resource Center Inc., a return-preparation business. Since then, Gonzalez has prepared or assisted in the preparation of more than 11,000 tax returns that requested refunds from the IRS totaling more than $38 million. 

    Consistently, Gonzalez directed his clients to create a phony corporation and to title their homes, cars and other assets in the name of the corporation. Gonzalez then referred those clients to an associate to prepare these sham corporation’s tax returns. The associate would provide the clients with a blank spreadsheet and request that they input their business expenses into that spreadsheet. At Gonzalez’s direction, the clients would include personal expenses, such as their mortgage payments, car payments and utility bills, and then provide the spreadsheet to the associate. The associate would, in turn, use the spreadsheet to prepare the business tax returns, which inevitably would show a loss.

    Gonzalez then prepared the clients’ individual income tax returns, which incorporated the fraudulent business losses and offset their income. To further reduce the clients’ taxes owed to the IRS, Gonzalez also fabricated deductions on the personal returns such as unreimbursed employee expenses, cash contributions to charity and medical and dental expenses. As a result of Gonzalez’s fraudulent return-preparation practices, his clients paid less taxes than they owed.

    Gonzalez profited from his return-preparation business. Before 2019, he typically charged clients a flat fee of $500 per tax return. In 2019, he started charging clients 1% of their gross income as a fee for his services.

    Gonzalez is scheduled to be sentenced on Oct. 7 and faces a maximum penalty of three years in prison for each of the three counts of aiding and assisting in the preparation of false tax returns to which he has pleaded guilty. He also faces a period of supervised release, restitution and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and any other statutory factors.  

    Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Martin Estrada for the Central District of California made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorney Lauren K. Pope of the Justice Department’s Tax Division and Assistant U.S. Attorney Eli A. Alcaraz for the Central District of California are prosecuting the case.

    MIL OSI USA News

  • MIL-OSI USA: Tillis, Colleagues Introduce Bipartisan Legislation to Repeal COVID-Era Employee Retention Tax Credit

    US Senate News:

    Source: United States Senator for North Carolina Thom Tillis
    WASHINGTON, D.C. – Senator Thom Tillis, alongside Senators Mitt Romney (R-UT) and Joe Manchin (I-WV), recently introduced the Employee Retention Tax Credit Repeal Act, bipartisan legislation that would disallow the processing of Employee Retention Tax Credit (ERTC) claims filed after January 31, 2024, and increase penalties for fraud.
    “Repealing the ERTC is a critical step towards addressing America’s debt crisis,” said Senator Tillis. “It’s past time to eliminate this fraud-ridden pandemic-era policy so we can concentrate on getting our fiscal house in order.”
    Background:
    The Employee Retention Tax Credit (ERTC)—created by the CARES Act and furthered expanded by the Consolidated Appropriations Act of 2021 and the American Rescue Plan—is a refundable credit available to qualifying businesses who paid wages to employees during the COVID-19 pandemic.
    In October 2021, the IRS issued a notice warning employers of “third parties promoting improper Employee Retention claims.” These “promoters” often use aggressive and deceptive marketing tactics to convince businesses to allow them to file ERTC claims on their behalf. According to the Financial Crimes Enforcement Network (FinCEN), “promoters typically charge a large upfront fee, sometimes upwards of 30-40% of the expected credit amount” as payment for their services. The program has seen a high volume of fraudulent claims.
    Estimates suggest the credit has added $230 billion to the deficit through Fiscal Year 2023 and could eventually cost up to $550 billion. Further, in June 2024, the IRS announced that between 10% and 20% of claims showed “clear signs of being erroneous” while another 60% to 70% showed an “unacceptable risk” of being improper. Unless Congress acts, applications for the credit are available until April 15, 2025.
    Full text of the bill can be found HERE.

    MIL OSI USA News

  • MIL-OSI USA: Texas Couple Charged in Multimillion-Dollar Tax Refund Fraud Scheme

    Source: US State of California

    A federal grand jury in Tyler, Texas, returned an indictment yesterday charging a Texas husband and wife with crimes related to their conspiracy to defraud the United States by seeking fraudulent tax refunds. 

    According to the indictment, from 2017 to 2023, Larry and Rebecca Kalmowitz filed false tax returns in the name of estates and trusts that sought $42 million in fraudulent refunds, ultimately receiving over $23 million from the IRS. The returns allegedly falsely reported interest income and large amounts of income tax withholdings to the IRS that resulted in large tax refunds to which they were not otherwise entitled. The Kalmowitzs allegedly created bank accounts in the names of the estates and trusts and deposited the fraudulently obtained tax refund checks into those accounts. They allegedly used the proceeds to purchase real property that they placed in the name of a nominee and to purchase luxury vehicles, including a Ford Mustang Shelby GT500 and a Mercedes-Benz GLS450. When the IRS attempted to recover the fraudulent funds, the Kalmowitzs allegedly took steps to obstruct the recovery by, among other things, filing false forms to support the claimed income and withholdings and a false form to release a federal lien.

    Both were charged with mail fraud, money laundering, conspiracy to defraud the United States and filing a false claim against the United States. If convicted, the Kalmowitzs each face a maximum penalty of 20 years in prison for each count of mail fraud, a maximum penalty of 10 years for each count of money laundering, a maximum penalty of five years in prison for the conspiracy to defraud the United States and a maximum penalty of five years in prison for each count of filing a false claim against the United States. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Damien Diggs for the Eastern District of Texas made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorneys Zachary Cobb and Daniel Lipkowitz of the Justice Department’s Tax Division and Assistant U.S. Attorney Ryan Locker for the Eastern District of Texas are prosecuting the case.

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

    MIL OSI USA News