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☆ TikTok may have a path forward in the US without a sale or ban
▼ + stars: | 2023-06-14 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +4 min

A bipartisan bill reintroduced this week would regulate how companies including TikTok share US data. TikTok has faced increased scrutiny around its ties to China, as well as calls for a US sale or ban. TikTok may have a path forward in the US without a sale or ban. TikTok has faced increased scrutiny from US lawmakers around its ties to China, where its parent company, ByteDance, is based. At the core of the issue are concerns that TikTok's Beijing-based parent company could be compelled to give the Chinese Community Party access to US user data.

Persons: TikTok, Sen, Ron Wyden, Cynthia Lummis, Biden, ByteDance, walling, It's, Wyden Organizations: Republican, CNN, Street, Foreign Investment, Congress, Wall, Chinese Community Party, CCP, Oracle Locations: China, Oregon, Wyoming, Montana, TikTok, Beijing, Texas, Russia

☆ New bipartisan bill in Senate could address TikTok security concerns without a ban
▼ + stars: | 2023-06-14 | by ( Brian Fung | ) edition.cnn.com time to read: +7 min

Much of the existing legislation addressing TikTok at the federal and state level has focused on bans of the app. Wednesday’s legislation, known as the Protecting Americans’ Data From Foreign Surveillance Act, does not identify TikTok by name. TikTok has faced criticism from US officials who say the company’s links to China pose a national security risk. Congress has made several attempts in recent months to address data transfers to foreign adversaries. In February, House lawmakers advanced a bill that would all but require the Biden administration to ban TikTok over national security concerns about the app.

Persons: Oregon Democratic Sen, Ron Wyden, Wyoming Republican Sen, Cynthia Lummis, —, ” Wyden, Wyden, TikTok, ByteDance, Biden, Justin Sherman, ” Sherman, Rhode Island Democratic Sen, Sheldon Whitehouse, Sheldon Whitehouse , Tennessee Republican Sen, Bill Hagerty, New Mexico Democratic Sen, Martin Heinrich, Florida Republican Sen, Marco Rubio, Warren Davidson, Anna Eshoo Organizations: CNN, Oregon Democratic, Wyoming Republican, ByteDance, Commerce Department, Oracle, Texas, Commerce, Duke University’s Sanford School of Public, Rhode, Rhode Island Democratic, Sheldon Whitehouse , Tennessee Republican, New Mexico Democratic, Florida Republican, Ohio Republican, California Democratic Locations: China, United States, Russia, Rhode Island, Sheldon Whitehouse , Tennessee, New Mexico, Florida

☆ Kevin McCarthy says he is still 'far apart' on a debt ceiling solution with Biden, warning they need a deal by the end of this week to avoid an economic catastrophe
▼ + stars: | 2023-05-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Kevin McCarthy said on Monday he thinks he is "far apart" on a debt ceiling solution with Biden. McCarthy said he thinks a deal needs to be reached by this weekend to avoid a default. McCarthy doesn't feel the same, telling reporters on Monday that he thinks both sides are "far apart" from reaching a deal. Biden and McCarthy are expected to meet again on Tuesday to move forward with discussions on a debt ceiling solution. "Default should be avoided, period," GOP Sen. Cynthia Lummis told Axios, adding that Biden and McCarthy "are going to have to negotiate through this."

☆ JD Vance defends Trump's comments that Republicans should let the US default, saying the former president was giving 'political advice' and doing 'fundamentally the right thing'
▼ + stars: | 2023-05-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Sen. JD Vance defended Trump's comments to Axios, saying he was just giving "political advice." "I say to the Republicans out there, congressmen and senators, if they don't give you massive cuts you are going to have to do a default," Trump said. Sen. JD Vance argued that Trump was just trying to help his party. Vance told Axios that "what the president is doing is really giving political advice ... not financial advice." GOP Sen. Josh Hawley, for example, told Axios that he disagreed with Trump's comments and that "there is no world in which [a default] happens."

The number of Twitter mobile app downloads actually declined 18% in February to 14.05 million from 17.2 million in January. Meanwhile, Twitter had 14.9 million app downloads in April, which is a 2% increase from the 14.6 million downloads it accumulated in March. Musk's Twitter makeover has sparked new interest in decentralized social networks. Elon Musk's Twitter is facing new competition from a rival called Bluesky, a so-called decentralized communications app that is backed by Twitter co-founder and twice-former CEO, Jack Dorsey. The front-end apps built atop these decentralized platforms are often clunky, not professional-looking or easy to use.

☆ This GOP senator declared DeSantis the 'leader of the Republican Party.' Despite his recent struggles, she still thinks that holds true.
▼ + stars: | 2023-05-03 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

Sen. Cynthia Lummis declared that Ron DeSantis was the "current leader" of her party in November. Ron DeSantis — not former President Donald Trump — was the "current leader of the Republican Party." That's why I think he's the leader of the party." Her initial November comments in support of DeSantis came on the heels of a poor midterm performance that many in the party blamed on Trump. In 2020, the party notably opted not to adopt a platform, citing pandemic-era restrictions and its "strong support" for Trump.

☆ DeSantis keeps losing home-state endorsements to Trump, and the Florida governor's recent visit to DC didn't produce any converts.
▼ + stars: | 2023-04-19 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

Ron DeSantis bled support from the Florida congressional delegation this week. 3 more Florida GOP lawmakers are lining up behind Trump amid DeSantis' trip to DC. Ron DeSantis' personal appeal to congressional Republicans in DC on Tuesday night appears to have spectacularly backfired, as Florida lawmakers continue throwing their support behind Trump in the 2024 presidential race. And freshman Rep. Brian Mast told CNN that not only does he plan to endorse Trump, he'll also spearhead a "Veterans for Trump" group. Even if DeSantis had tried that, Crenshaw noted that he has no plans to endorse anyone in the GOP presidential primary, so that was off the table.

☆ Tim Scott is the most intriguing GOP presidential hopeful most Republicans haven't heard of
▼ + stars: | 2023-04-12 | by ( Brent D. Griffiths | Warren Rojas | ) www.businessinsider.com time to read: +8 min

South Carolina Sen. Tim Scott is far from well-known by Republican voters. But if he runs for president, Scott would be well positioned to break out if either Trump or DeSantis falter. "I hope he is considering jumping into the race," Iowa Sen. Joni Ernst recently told Insider while on her way back to her Senate office. But more than just his colleagues, Republican voters may also be just as effusive. It's difficult to find polling on Scott's national favorability, but a recent Monmouth University poll of self-identified Republican voters showed significant promise.

☆ U.S. lawmakers introduce bipartisan bill to help news media negotiate with Big Tech
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 31 (Reuters) - A bipartisan group of U.S. lawmakers reintroduced a bill to allow news organizations to join together to negotiate ad rates with tech giants such as Alphabet Inc's (GOOGL.O) Google. The measure would allow news broadcasters and publishers with fewer than 1,500 full-time workers to jointly negotiate ad rates -- many of which face financial struggles. The bill was introduced by Democratic Senator Amy Klobuchar, chair of the Senate Judiciary Committee's antitrust subcommittee, along with Senator John Kennedy, a Republican. The News/Media Alliance, a media trade association, praised the bill it says will protect and sustain local journalism. Reporting by Diane Bartz; additional reporting by David Shepardson; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Premarket stocks: The FDIC could ask big banks to clean up $23 billion mess
▼ + stars: | 2023-03-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

While regional and mid-sized banks are behind the recent turmoil, it appears that large banks may be footing the bill. Ultimately, that means higher fees for bank customers and lower rates on their savings accounts. The law also gives the FDIC the authority to decide which banks shoulder the brunt of that assessment fee. Passing it on: Regardless of who’s charged, the fees will eventually get passed on to bank customers in the end, said Isaac. In 2021, Wall Street was estimated to be responsible for 16% of all economic activity in the city.

☆ Senate Republicans say the increasingly nasty Trump-DeSantis sparring is how you get to the best possible 2024 candidate and they expect a no-holds-barred fight
▼ + stars: | 2023-03-17 | by ( Warren Rojas | ) www.businessinsider.com time to read: +5 min

In fact, some said that's exactly what the party needs to produce a winning presidential candidate the next time around. "Heck, I hope 10 or 15 people run," Tuberville told Insider at the US Capitol, urging other White House hopefuls to "put out what you need to, go raise money, and put your best foot forward." When asked how DeSantis might hit back at the scandal-plagued former president, Rubio said that's for 2024 contenders to figure out. A follow-up question about his possibly entering the race compelled Rubio to say that he was not running for president. "There's an old statement, 'What Peter says about Paul tells you more about Peter than it does about Paul," he told Insider in the Senate subway tunnels.

☆ SVB executives could face clawback of bonuses
▼ + stars: | 2023-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSVB executives could face clawback of bonusesSen. Cynthia Lummis (R-Wyoming) joins CNBC's Brian Sullivan and 'Last Call' to discuss the collapse of Silicon Valley Bank and what regulators could have done to prevent it from happening.

☆ A growing group of lawmakers think TikTok is 'digital fentanyl' and want to ban it. Many others remain skeptical.
▼ + stars: | 2023-02-24 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +10 min

Some members of Congress have begun pushing to ban TikTok in the US. "I'm a little less enthusiastic about an all-out ban of it," said Republican Sen. Kevin Cramer of North Dakota. "I'm an incrementalist on a lot of things, and I would be on this as well," said Republican Sen. Cynthia Lummis of Wyoming. Last week, the Senate Judiciary Committee held a hearing on social media and the internet's impact on children. Democratic Sen. Mazie Hirono of Hawaii, another committee member, said she's most concerned about how social media platforms are impacting kids.

☆ Senate GOP women hail Nikki Haley's entry into the 2024 presidential primary but almost unanimously cheer for 'a lot of other people' to jump in
▼ + stars: | 2023-02-15 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

Senate Republican women offered guarded praise but seemed interested in additional candidates. And we'll see who else jumps in," Sen. Joni Ernst, who seemed to be on the exact same page as many of her colleagues, told Insider at the US Capitol. While the half-dozen GOP women Insider talked to about Haley's plans were generally supportive of her presidential ambitions, none offered her an endorsement. I thought it was well done," Sen. Deb Fischer of Nebraska told Insider between Senate votes. "She adds much needed diversity," Collins told Insider — before quickly adding, "I expect there'll be other very good candidates announcing as well."

☆ GOP Sen. Cynthia Lummis raves about 'extraordinary' new Democratic Sen. Peter Welch and says she's excited to be reunited in the Senate: 'I love Pete Welch'
▼ + stars: | 2023-02-13 | by ( Warren Rojas | ) www.businessinsider.com time to read: +3 min

Cynthia Lummis and Peter Welch are psyched to join forces and get things done in the new congress. And it will serve the Senate well," Lummis said, adding, "I'm very excited that he's on the Senate side." Welch was equally enthused about the reunion, noting that as one of the freshmen senators in the 118th Congress he actually inherited Lummis' old digs. While walking from the Capitol to the Senate office buildings, Welch stopped Lummis, who had two staffers with her, to chat. "I love Pete Welch," Lummis said.

☆ U.S. senators urge telecom agency to OK use of connected vehicle spectrum
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Feb 13 (Reuters) - Two U.S. senators on Monday urged the Federal Communications Commission to move quickly to grant some automakers and universities the ability to use some spectrum to deploy connected vehicle technology aimed at preventing crashes. Senators Gary Peters and Cynthia Lummis urged the FCC to approve "waiver requests to enable deployment of Cellular Vehicle-to-Everything (C-V2X) technology in the 5.9GHz spectrum band. C-V2X technology is poised to save lives, (and) will pave the way for the future of automobile and transportation infrastructure." The FCC said in November 2020 it intended to offer waivers. It has received 18 waiver requests to date and none have yet been granted, the senators said.

☆ Judge in FTX bankruptcy case rejects motion to remove elite NYC lawyers
▼ + stars: | 2023-01-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —One of America’s elite white-collar law firms has emerged as a contentious figure in the complex FTX saga. A judge ruled that the bankrupt crypto platform could retain Sullivan & Cromwell as legal counsel, overruling objections from FTX customers who accused the firm of conflicts of interest. Then FTX’s former top lawyer supported the motion in a court filing, which included additional allegations that one of his former colleagues improperly funneled FTX business to Sullivan & Cromwell. Friedberg alleged that that lawyer funneled business to Sullivan & Cromwell, hoping to curry favor with the firm to which he hoped to eventually return. Earlier this month, a group of US senators also raised objections to Sullivan & Cromwell’s participation in the FTX bankruptcy.

☆ House Republicans move to regulate crypto industry with a new subcommittee
▼ + stars: | 2023-01-13 | by ( Rohan Goswami | ) www.cnbc.com time to read: +3 min

The unregulated nature of the crypto industry emerged as a pressing concern late last year after the collapse in November of crypto exchange FTX. Hill has been an enthusiastic supporter of the crypto industry. Emmer described actions taken by Securities and Exchange Commission Chair Gary Gensler as "haphazard and unfocused." Senate Democrats, meanwhile, have already begun to prepare their own efforts to oversee the crypto industry and dictate enforcement actions. The commission charged crypto lender Genesis and crypto exchange Gemini with the unregistered sale and offering of securities on Thursday, the same day that Hill announced the subcommittee.

☆ Here are the 5 senators who voted against giving workers break time to pump breast milk
▼ + stars: | 2022-12-23 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

Five senators voted against expanding protections for breastfeeding workers. The PUMP Act will now be included in the federal Omnibus bill, which the president is expected to sign. In online statements on Thursday, Merkley and Murkowski celebrated the passage of the PUMP Act. "I am encouraged to see the PUMP Act pass the Senate—good progress toward ensuring no mother ever has to choose between a job and nursing her child," Murkowski said. Merkley and Murkowski initially tried to get the PUMP for Nursing Mothers Act voted on as a standalone bill on Tuesday, but the attempt was blocked by Paul.

☆ Conservative senators hail member-led strategy session as 'good first step' in dealing with mounting frustrations about Mitch McConnell's leadership
▼ + stars: | 2022-12-14 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

A group of Senate Republicans hosted their first member-led policy discussion on Wednesday. Attendees said Senate Minority Leader Mitch McConnell was in the room but didn't participate. "Nothing was fleshed out," Braun told reporters at the US Capitol, adding that "I think it's the beginning, maybe, of a more participatory process." Still, convening more meetings, which Cornyn said this group seemed inclined to do, is preferable to the scorched-earth tactics others have embraced in the past. "I think they're good meetings to have," Rubio told Insider.

Lawmakers are generally in agreement that crypto firms should have greater regulation, but there are divergent views on how the industry should be regulated. U.S. prosecutors on Tuesday charged FTX founder Sam Bankman-Fried with money laundering and fraud, among other violations. "It is time for Congress to make the crypto industry follow the same money-laundering rules as everyone else," U.S. She and Republican Senator Roger Marshall from Kansas earlier announced legislation aimed at closing money laundering loopholes in the crypto industry. Without U.S. regulation, the value of crypto investments could disappear, said hearing witness and American University law professor Hilary Allen.

WASHINGTON — The House passed legislation Thursday that enshrines federal protections for marriages of same-sex and interracial couples. Thirty-nine House Republicans supported the legislation Thursday and one voted present. The revisions to the bill meant the House had to vote again after passing an earlier version in July. It reflects the rapidly growing U.S. public support for legal same-sex marriage, which hit a new high of 71% in June, according to Gallup tracking polls — up from 27% in 1996. In the Senate, 12 Republicans voted with unanimous Democrats to pass the bill, which sent it back to the House.

☆ After final Trump-backed midterm loss, Senate Republicans bemoan weak nominees
▼ + stars: | 2022-12-07 | by ( David Morgan | ) www.reuters.com time to read: +5 min

"You have to have candidates that appeal to the general public," Republican Senator Mike Rounds told reporters. Trump's party succeeded in winning a House majority, but by a smaller margin than it had expected. "Candidates matter, and I think we've lost two or three or four races we didn't have to lose this year," Republican Senator Roy Blunt told reporters. "We just need to be able to be aggressive," said Republican Senator Cynthia Lummis. The former football star had support on the campaign trail from prominent Senate Republicans including Ted Cruz, Lindsey Graham and Rick Scott, who chairs the Senate Republican campaign arm.

☆ Mitch McConnell could've tried to block a bill to protect same-sex marriage. He stayed silent about it instead.
▼ + stars: | 2022-12-07 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +10 min

Mitch McConnell never publicly offered his position on a bill to protect same-sex marriage. Susan Collins of Maine and Thom Tillis of North Carolina on amendments to the bill, told Insider. "You know, the leader has to look at his conference," Tillis told Insider, referencing his own time as the Speaker of the North Carolina House. Republican Sen. Ted Cruz of Texas, a conservative opponent of the bill, told Insider that "of course" he wished McConnell had taken a vocal position on the bill. As Sinema stood up to embrace the Iowa Republican, McConnell rose from his seat and voted no.

☆ Washington lawmakers hold on to crypto holdings despite calls for new laws in wake of FTX collapse
▼ + stars: | 2022-12-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Another lawmaker, Republican Sen. Tommy Tuberville of Alabama, disclosed at a Senate Agriculture Committee hearing about FTX on Thursday that he, too, holds some crypto assets. Tuberville's most recent disclosure reports from this year reviewed by CNBC do not show any crypto stock purchases. Out of all ten offices contacted, only one said they sold their crypto stock holdings after FTX imploded. Rep. Marie Newman, D-Ill., who lost her bid for reelection owned crypto stock up until last week, recently sold her digital token stocks as the industry took a hit. Toomey told CNBC "HODL" when asked about whether he plans to sell his crypto stock following FTX's collapse.

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