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Search resuls for: "Ron Wyden"


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WASHINGTON (Reuters) - President-elect Joe Biden’s Treasury secretary will need Congress to approve re-use of $455 billion in funds that the Trump administration is taking back from Federal Reserve and other pandemic lending programs, the Treasury said on Monday. Slideshow ( 2 images )Biden is expected to name former Federal Reserve chair Janet Yellen as his Treasury secretary, putting a woman in the job for the first time since the department was created in 1789. Current Treasury Secretary Steve Mnuchin last week said he would allow some little-used coronavirus lending programs at the Federal Reserve to expire on Dec. 31 and allow Congress to spend the funds on other aid for businesses and individuals. The funds are tied to expiring Fed lending programs for mid-size businesses, municipal bond issuers and other borrowers, the spokesperson said, adding that any new use, including renewing the facilities, would require congressional approval. At the end of 2025, according to the CARES Act legislation passed in March, any remaining relief funds must be transferred to the General Fund and used for budget deficit reduction.
Persons: Joe Biden’s, Trump, Biden, Janet Yellen, Steve Mnuchin, Ron Wyden, Mnuchin’s, Donald Trump, Mnuchin, ” Wyden Organizations: WASHINGTON, Federal Reserve, Treasury, Federal, Bloomberg, Exchange, Senate Finance, U.S, , Reuters, General Fund
WASHINGTON — Democratic senators are calling on President-elect Joe Biden to use executive power to advance goals such as tackling climate change, relieving student debt and creating a more progressive immigration system. "I think President Biden has significant executive power. "From Treasury to State to Interior (departments) and the financial regulators, climate action and climate risk management has to be infused into literally everything," he said. Even if Democrats capture both Georgia seats and take control of the Senate, McConnell would retain the power to filibuster legislation and force a 60-vote threshold. Jamal Brown, a spokesman for Biden's transition team, said his agenda will include executive power.
Persons: Joe Biden, Biden, Donald Trump, Sen, Ed Markey, Markey, Mitch McConnell, stonewall, Ron Wyden, Brian Schatz, Elizabeth Warren, Chuck Schumer, McConnell, Joe Manchin, Nancy Pelosi's, Barack Obama, Wyden, Mazie Hirono, Mitch McConnell —, Hirono, playbook, We've, Mitch, He's, didn't, Jeff Hauser, Hauser, Ruth Bader Ginsburg, Amy Coney Barrett, Obama, Jamal Brown, Brown Organizations: WASHINGTON, Democratic, Georgia Senate runoffs, NBC News, Higher, Senate, Act, White House, Biden, Republicans Locations: United States, Paris, Ky, Hawaii, State, Interior, bipartisanship, Georgia
Treasury Secretary Steven Mnuchin wants to funnel unspent stimulus money into the American economy, he said on Thursday evening. Mnuchin's comments come after he announced he was not extending many of the Fed's emergency lending programs past the end of the year. Treasury Secretary Steven Mnuchin wants to redirect unspent stimulus money into the American economy, he said on Thursday evening. The Fed programs at the center of the dispute were instituted shortly after the CARES Act was passed. "Secretary Mnuchin is salting the earth in an attempt to inflict political pain on President-elect Biden."
Persons: Steven Mnuchin, Mnuchin, COVID —, Mnuchin's, Sen, Pat Toomey, Biden, Ron Wyden, Ernie Tedeschi Organizations: Bloomberg, Federal, Fed, Treasury, Street Journal, Senate Finance, Evercore ISI, Twitter, Century Foundation Locations: Pennsylvania
Trying to close out major unfinished business, the Trump administration issued regulations Friday that could lower the prices Americans pay for many prescription drugs. The Trump administration disputes that and says its rule could potentially result in 30% savings for patients. Trump has taken other action to lower prescription drug costs by opening a legal path for importing medicines from abroad. Also, Medicare drug plans that cap insulin costs at $35 a month are available during open enrollment, currently underway. The Food and Drug Administration has put a priority on approving generics, which cost less.
Persons: Trump, Biden, Donald Trump, That's, Chuck Grassley, Ron Wyden, Alex Azar, Azar, Trump's, Obama, Joe Biden, Nancy Pelosi Organizations: Pharmaceutical Research, Manufacturers, America, Medicare, Senate, Human Services, Affordable, Democrats, Drug Administration Locations: COVID, Sens, Iowa
Senate Minority Leader Chuck Schumer, D-N.Y., said Trump's "childish and infantile" refusal to concede is distracting Republican lawmakers from negotiating more Covid-19 relief. "Senate Republicans are distracted by an angry, petulant president. Shelby said he has spoken to Pelosi about Covid-19 relief. He cited the $2.2 billion HEROES Act, which has cleared the Democratic-controlled House but which Senate Republicans have said is too large. "And hopefully, we'll find common ground with our Senate Republicans in the next few days or weeks, prior to departing for the holidays."
Persons: Sen, John Cornyn, Donald Trump, Mitch McConnell, Nancy Pelosi, Ron Wyden, Joe Biden, White, Biden, Chuck Schumer, They're, Schumer, Pelosi, McConnell, haven't, Trump, Mark Meadows, , ” Meadows, You've, Richard Shelby, Shelby, Hakeem Jeffries, he's Organizations: WASHINGTON, House Democrats, Republicans, Voters, Democratic, Finance Committee, Party, , House Democratic Locations: WASHINGTON —, Texas, Ky, Oregon, United States, Covid, New York
Trump's Fed pick nears confirmation despite unorthodox views
  + stars: | 2020-11-13 | by ( Anneken Tappe | Cnn Business | ) edition.cnn.com sentiment -1.00   time to read: +2 min
For months, Shelton's nomination lacked enough support for a full floor vote, even after the Senate Banking Committee approved her 13-12 along party lines in July. In September, Sen. John Thune, the Republican whip, told reporters Shelton didn't have the votesBut on Thursday, Republican Senator Lisa Murkowski indicated she would support Shelton's nomination, all but guaranteeing her confirmation. If Shelton is confirmed, Trump will have filled five of the the seven governor seats on the Fed's board. The Senate will also vote on the less contentious nomination of Christopher Waller as a Fed governor. Waller, currently the director of research at the St. Louis Fed, is considered a more conventional choice for the central bank.
Persons: Donald Trump's, Judy Shelton, Trump, Jerome Powell, Shelton, Sen, John Thune, Shelton didn't, Lisa Murkowski, Ron Wyden, Wyden, Biden, Kathy Bostjancic, Lael Brainard, Bostjancic, Christopher Waller, Waller, Louis Fed, CNN's Ted Barrett Organizations: CNN, Federal Reserve, Senate Republicans, Senate, Republican, Centers for Disease, Oxford Economics, Fed, St Locations: York
Judy Shelton appears headed for confirmation to a Federal Reserve seat
  + stars: | 2020-11-12 | by ( Jeff Cox | ) www.cnbc.com sentiment -0.99   time to read: +2 min
Judy Shelton appears now to have enough Republican support for her controversial nomination to the Federal Reserve's board of governors to get through. "I've had an opportunity to talk to Judy Shelton and I'm going to be supporting her," Murkowski told reporters Thursday afternoon, according to reports in various news outlets. Shelton's nomination had been stalled in the Senate even though the finance committee cleared her by a narrow party-line 13-12 vote in July. Her co-nominee, St. Louis Fed executive vice president Christopher Waller, faced a much easier time and gained committee approval by an 18-7 vote. However, it is unclear whether his name will be presented with Shelton at a full Senate vote expected to take place around the middle of next week.
Persons: Judy Shelton, Mitch McConnell, Sen, Lisa Murkowski, Donald Trump, Ylan Mui, I've, I'm, Murkowski, Shelton, backpedaling, McConnell's, Ron Wyden, Wyden, Louis, Christopher Waller Organizations: Federal, Centers for Disease Control, Senate Republicans, Louis Fed Locations: Alaska, Oregon
Breakingviews - Biden win sets scene for storm before the calm
  + stars: | 2020-11-07 | by ( John Foley | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Kevin Lamarque - RC24YJ9OU7P9NEW YORK (Reuters Breakingviews) - Americans chose Joe Biden as their 46th president. Biden promised big things, from tax increases on big earners to massive investments in green infrastructure. Posts that require lawmakers’ approval, like Treasury secretary or secretary of State, would require centrist candidates. Then there’s Trump. Biden stands for calm, but first comes the storm.
Persons: Joe Biden, Kevin Lamarque, Donald Trump, Biden, that’s, Ron Wyden’s, Elizabeth Warren, there’s Trump, Jimmy Carter, Trump Organizations: Democratic, REUTERS, Reuters, GOP Senate, Progressive, Monetary Fund, Republicans, Fox News Locations: Wilmington , Delaware, U.S, Iran
Spy agency ducks questions about 'back doors' in tech products
  + stars: | 2020-10-28 | by ( ) www.cnbc.com   time to read: +9 min
The agency declined to say how it had updated its policies on obtaining special access to commercial products. The starkest example of the risks inherent in the NSA's approach involved an encryption-system component known as Dual Elliptic Curve, or Dual EC. Researchers later determined that hackers had turned the firewalls into their own spy tool by altering Juniper's version of Dual EC. At the same time, we also noticed that the report mentioned that it was the U.S. intelligence agency - the National Security Agency - that created this backdoor technology." "Juniper does not and will not insert back doors into its products and we oppose any legislation mandating back doors."
Persons: Edward Snowden, Snowden, Ron Wyden, Wyden, Anne Neuberger, Juniper, Keith Chu, Chu, Michael Daniel, Barack Obama, Obama, Daniel, cryptographers, Andy Isaacson, Isaacson, Anne Neuberger, Michael Daniel Organizations: U.S . National Security Agency, NSA, Reuters, Agency, Senate Intelligence Committee, Juniper Networks, Wyden, Juniper, Tech, U.S, White, Commerce Department, RSA, EC, National Security Agency, NSA, Reuters, Juniper Locations: American, United States, United Kingdom, U.S, Juniper, Reuters, Juniper
Legalizing interstate cannabis commerce has stirred up mixed feelings in the industry as some state governments and officials push for commerce compacts and Congressional approval. Legal interstate cannabis commerce won't come to the United States until its Schedule I status is rescheduled or removed entirely from the Controlled Substances Act. Notable names supporting the effort include Flow Kana, The Minority Cannabis Business Alliance, and The Craft Cannabis Alliance. Read more: The sweet spot for cannabis business opportunities is somewhere between medical and recreational — experts explain how to find itOthers aren't so certain of interstate cannabis commerce's inevitability. Scott also referred to ongoing alcohol shipping disputes as a sign of a long battle for the cannabis market.
Persons: Ron Wyden, Earl Blumenauer, Kate Brown, hasn't, Eric Berlin, David C, Holland, Cannabis, Larry Sanders, Smoke Wallin, Teddy Scott, Berlin, Read, Wallin, Scott Organizations: State Cannabis Commerce, Oregon, Alliance, Sensible Markets, Cannabis Business Alliance, Craft Cannabis Alliance, ASM, NYC Cannabis Industry Association, Hudson Valley Cannabis Industry Association, NBA, Los Locations: Oregon, Ohio , Illinois , Michigan, Pennsylvania, United States, State, Holland, New York, New Jersey, Maryland, Hudson Valley, York, Los Angeles, California, Berlin
Thorin Thacker, owner of Canyon Cannabis, sings and picks at a banjo on April 11, 2018, at the Gates, Oregon, dispensary. Canyon Cannabis is one of thousands of pioneers that got in on a fast-growing, multibillion-dollar industry on the West Coast. The remains of Canyon Cannabis, a Gates, Oregon, dispensary that was destroyed Sept. 8 by the Beachie Creek Fire. Melted clumps of what were locally made glass pipes and bongs sold at Canyon Cannabis dispensary in Gates, Oregon. Canyon Cannabis' Thacker said he's hopeful for legislation of that nature, but "I'm certainly not going to hold my breath."
Persons: Jimi Hendrix, Stevie Wonder, Thorin, Thacker, Cole, tinker, Thorin Thacker, I've, Nathan Howard, Howard, Tina Gordon, Gordon, Slater, Jill Ellsworth, Ellsworth, Mark Pettinger, Adam Koh, bongs, Ron Wyden, I'm, it's, Nathan Howard, Sept, Jill Ellsworth Organizations: Cannabis, Insurance, Willow Industries, Oregon Liquor Control Commission, CNN Business, Oregon Congress, Republican, Oregon, Jimi Hendrix, The Gates, Phoenix, Talent, Ashland, Detroit, Takilma, OLCC, CNN Business Locations: Gates , Oregon, Fairbanks, Swiss, West Coast, Takilma, Oregon, Howard, Phoenix, Talent, Ashland, Detroit, Northern California, Humboldt County , California, Takilma , Oregon, California, Gates, Mill City, Humboldt County, California
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