Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Dirksen"


25 mentions found


Breakingviews category · November 3, 2023 · 6:06 AM UTC“A billion here, a billion there”, Illinois Senator Everett Dirksen reputedly said of the U.S. budget deficit in the mid-1960s, “and pretty soon, you’re talking big money". The senator would need to do some swift recalibrations were he confronted with today’s American public finances. Last month, the Congressional Budget Office (CBO) reported that the federal budget deficit for the fiscal year ending September 30 had hit $1.7 trillion. Shortly afterwards, the International Monetary Fund forecast that the deficit will continue at the same level for at least the next five years. Meanwhile, government debt has tripled since the senator’s day to around 120% of GDP.
Persons: Everett Dirksen, you’re Organizations: Congressional, Office, International Monetary Fund Locations: Illinois
The Employee Retention Credit was intended to be a financial lifeline to small businesses struggling to make ends meet during the pandemic. Innovation Refunds — a consulting firm that focuses on the ERC — was one of the most visible advertisers during the tax credit's heyday. How Innovation Refunds worksOn its website, Innovation Refunds makes it clear it is not a tax professional. Innovation Refunds markets to clients, determines if they are viable candidates for the credit and then collects businesses' documentation. Some former employees said this could insulate Innovation Refunds from potential liability if ineligible businesses claimed the credit.
Persons: Danny Werfel, Andrew Kelly, Howard Makler, Ty Burrell, Burrell, Rob Domenico, Werfel, Tom Williams, Makler, Kate Rogers, Domenico, Slack, Jenn McCabe, Armanino Organizations: Companies, ERC, Internal Revenue Service, IRS, ERC —, CNBC, Reuters, CPA, Senate, Washington , D.C, CQ, Inc, Getty, LinkedIn, Justice Locations: New York, Washington ,, Des Moines
The IRS on Thursday announced a "special withdrawal process" for small businesses that may have wrongly claimed the so-called employee retention tax credit, or ERC. Enacted to support small businesses during the pandemic, the ERC, worth thousands per eligible employee, has been a magnet for fraudulent or "questionable claims," according to the IRS. Many small businesses were misled by ERC promoters, prompting the agency to temporarily stop processing for new claims in September. Small businesses can use the ERC claim withdrawal process if they meet the following criteria:They claimed the ERC on an adjusted employment return (Forms 941-X, 943-X, 944-X, CT-1X). Small businesses can learn more about the ERC withdrawal process by visiting IRS.gov/withdrawmyERC.
Persons: Daniel Werfel, Danny Werfel, Here's, Werfel, haven't, IRS.gov Organizations: Revenue, Senate, IRS, ERC, Finance
New York CNN —Starbucks violated federal labor law when it increased wages and offered new perks and benefits only to non-union employees, a National Labor Relations Board judge found Thursday. The decision is the latest in a series of NLRB rulings finding that Starbucks has violated labor law in its efforts to stop unions from forming in its coffee shops. Last year, Starbucks announced that it would raise wages for non-union employees, and offer them other new benefits. Starbucks should also post a notice in its cafes telling workers that the NLRB found Starbucks had violated federal labor law, and detailing employee rights, she said. Thursday’s decision was “a massive victory for Starbucks workers,” Starbucks Workers United, which has been leading the union charge, said in a statement to CNN.
Persons: , , Mara, Louise Anzalone, Lindsay DeDario, Howard Schultz, Anzalone, Justin Sullivan, Rachel Wall, Bernie Sanders, Schultz, ” Howard Schultz, Anna Moneymaker Organizations: New, New York CNN, National Labor Relations, Starbucks, Reuters, ” Workers, NLRB, CNN, Health, Education, Labor, Getty, Starbucks Workers Locations: New York, Buffalo , New York, , San Francisco , California, Dirksen, Washington , DC
WASHINGTON — Sen. Elizabeth Warren is sounding alarm bells about the future of regional banks in a new letter Thursday to Treasury Secretary Janet Yellen and a top advisory group for bank regulators. In the letter to Yellen, obtained exclusively by CNBC, Warren addresses the secretary in her capacity as chair of the Financial Stability Oversight Council, and asks her and the council to investigate several looming threats to banks. "I urge you to take strong action to address the alarming fallout from high interest rates and protect the safety of our financial system," Warren writes. The request follows an August announcement by Moody's that it was downgrading 10 regional banks, and putting another 17 banks either under review or changing their outlooks from stable to negative. The Massachusetts senator has been an outspoken critic of the increases, warning Federal Reserve Chairman Jay Powell and others that higher interest rates will ultimately hurt working Americans, even if they appear to exert downward pressure on inflation.
Persons: Sen, Elizabeth Warren, Janet Yellen, WASHINGTON — Sen, Yellen, Warren, Jay Powell, Wells Organizations: Banking, Housing, Urban Affairs Committee, WASHINGTON, CNBC, Consumer Financial, Biden White, Biden Locations: Washington, Washington , DC, Massachusetts, Wells Fargo, Warren
Former Starbucks CEO Howard Schultz testifies before the Senate Health, Education, Labor, and Pensions Committee in the Dirksen Senate Office Building on Capitol Hill on March 29, 2023 in Washington, DC. Former Starbucks CEO Howard Schultz is stepping down from the coffee chain's board, the company said Wednesday. Schultz previously stepped down from Starbucks' board in June 2018 to prepare for a potential presidential run, before deciding against a bid. Zhang also previously held roles at News Corp China, CNBC China, Bain and General Electric. She is the third woman on Starbucks' nine-person board, which includes chair Mellody Hobson and Land O'Lakes CEO Beth Ford.
Persons: Howard Schultz, Schultz, Laxman Narasimhan, Kevin Johnson, Wei Zhang, Zhang, Alibaba, Bain, Ralph Lauren's, Mellody Hobson, Beth Ford Organizations: Starbucks, Health, Education, Labor, Washington , DC, CNBC, Alibaba Pictures, News Corp China, General, Land Locations: Dirksen, Washington ,, China, U.S, CNBC China
Jim Lo Scalzo/Pool via REUTERS Acquire Licensing RightsSept 11 (Reuters) - The United States should think about eliminating corporate subsidies, including to energy companies, U.S. Deputy Treasury Secretary Wally Adeyemo said in New York on Monday. Adeyemo defended President Joe Biden's budget proposal for fiscal 2024, noting that achieving fiscal sustainability would include modest tax increases, boosting tax revenue collections and finding other ways to cut costs. "None of us thinks it makes sense to subsidize energy companies in light of how they're doing in this country. But there are probably other subsidies and other things we can do to make the budget more efficient." Adeyemo said he hoped to engage with Republicans in the House of Representatives about the issue, without giving any further details.
Persons: Wally, Adeyemo, Jim Lo Scalzo, Wally Adeyemo, Joe Biden's, Donald Trump's, Republican Ronald Reagan, Bill Clinton, Andrea Shalal, Deepa Babington Organizations: Senate, Treasury, Washington , D.C, REUTERS Acquire, Economic, of New, Big Oil, Republican, Thomson Locations: Dirksen, Washington ,, United States, New York, of New York, Ukraine
"She ignored the public trial right entirely. Scott Berry, Spearman's federal public defender, declined to comment, as did a Justice Department spokesperson. Five former federal judges -- four appointed by Democrats and one by a Republican -- said in interviews that Cannon’s errors likely reflect relative inexperience on the bench. A public trial also has been found to implicate First Amendment rights of freedom of assembly, speech and press. One of the pivotal Supreme Court cases on the right to a public trial is Waller v. Georgia.
Persons: Aileen Cannon, Donald Trump's, Cannon, Trump, William Spearman, Spearman's, Stephen Smith, Spearman, Jeremy Fogel, Scott Berry, Paul Grimm, Grimm, Brian Steel, Mark Bennett, It's, Waller, Berry, Greg Schiller, Schiller, Clara's Smith, Jacqueline Thomsen, Sarah N, Lynch, Will Dunham, Scott Malone Organizations: U.S ., Dirksen, Trump, WASHINGTON, Reuters, U.S, Constitution's, Santa Clara School of Law, Berkeley Judicial, Republican, Duke Law School, Supreme, Chief U.S, Northern, Northern District of, . Georgia, Senate, Circuit, Appeals, FBI, Trump's Mar, Thomson Locations: Florida, Washington , U.S, Alabama, Cannon, California, Maryland, Northern District, Northern District of Iowa, ., Atlanta, Trump's, Lago, Washington, New York, U.S
A defendant's right to a public trial is enshrined in the U.S. Constitution's Sixth Amendment. "She ignored the public trial right entirely. A public trial also has been found to implicate First Amendment rights of freedom of assembly, speech and press. Scott Berry, a federal public defender representing Spearman, declined to comment, as did a Justice Department spokesperson. LIMITED EXPERIENCEAs a judge, Cannon so far has presided over four criminal trials that resulted in jury verdicts.
Persons: Aileen Cannon, Donald Trump's, Cannon, Trump, William Spearman, Stephen Smith, Jeremy Fogel, Fogel, Mark Bennett, It's, Scott Berry, Spearman, Paul Grimm, Grimm, Berry, Greg Schiller, Schiller, Spearman's, Clara's Smith, Jacqueline Thomsen, Sarah N, Lynch, Will Dunham, Scott Malone Organizations: U.S ., Dirksen, Trump, WASHINGTON, Reuters, Constitution's, Santa Clara School of Law, U.S, Supreme, Democratic, Republican, Berkeley Judicial, Chief U.S, Northern, Northern District of, Senate, Circuit, Appeals, FBI, Trump's Mar, Duke Law School, Thomson Locations: Florida, Washington , U.S, Alabama, U.S, California, Fort Pierce , Florida, Northern District, Northern District of Iowa, Atlanta, Trump's, Lago, Maryland, North Carolina
[1/2] Senator Ron Wyden (D-OR) speaks during the Senate Finance Committee hearing on the nomination of Chris Magnus to be the next U.S. Customs and Border Protection commissioner, in the Dirksen Senate Office Building on Capitol Hill in Washington, DC, U.S., October 19, 2021. In a letter released Thursday, Wyden said that "even with the limited details that have been made public so far, Microsoft bears significant responsibility for this new incident." The FTC, the Justice Department, and the Cybersecurity Agency - known as CISA - did not immediately respond to request seeking comment. Microsoft did not immediately return a request for comment. Reporting by Raphael Satter; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.
Persons: Ron Wyden, Chris Magnus, Mandel Ngan, Read, Wyden, Raphael Satter, Chizu Organizations: Senate, U.S . Customs, Border Protection, Federal Trade Commission, Infrastructure Security Agency, Department of Justice, Microsoft, FTC, Justice Department, Cybersecurity Agency, Thomson Locations: U.S, Dirksen, Washington , DC, Oregon, China
For the first time in more than 150 years, the Marine Corps is operating without a Senate-confirmed commandant. The delay marks the first time the Marine Corps will have been without a Senate-confirmed commandant in 164 years. At a ceremony Monday for Berger — the Marine Corps' 38th commandant — Defense Secretary Lloyd Austin urged the Senate to act. "You know, it's been more than a century since the U.S. Marine Corps has operated without a Senate-confirmed commandant," Austin said. Tuberville, who for months has been using a procedural tactic to slow promotions that are typically approved through unanimous consent, objected to Reed's move, citing the Pentagon's abortion policy.
Persons: Sen, Tommy Tuberville, Vivek Murthy, David H, Berger, GOP Sen, Eric Smith, Lloyd Austin, it's, Austin, that's, Jack Reed, Reed, Tuberville, Reed's, Sabrina Singh, Roe, Wade Organizations: Health, Education, Labor, Marine Corps, GOP, , Senate, U.S . Marine Corps, United States, Senate Armed, Pentagon, Supreme Locations: Alabama
Check out the companies making headlines in premarket trading. Virgin Galactic — Shares tumbled 12.4% in premarket trading after the space tourism company said it raised $300 million through a common stock offer. Virgin Galactic said it wants to raise another $400 million as the company looks to expand and improve its spacecraft fleet. Under Armour — Shares shed nearly 3% in premarket trading following a downgrade by Wells Fargo to equal weight from overweight. Wayfair — Shares of the home furnishings retailer rose more than 1% after MoffettNathanson upgraded Wayfair to market perform from underperform.
Persons: CarMax, Virgin Galactic, Armour, Wells Fargo, MoffettNathanson, Wayfair, , Jesse Pound, Michelle Fox Organizations: Senate Health, Education, Labor, Starbucks, StreetAccount ., Galactic, Virgin, Baltimore Sun, Footwear, Bed, Deutsche Bank, Accenture Locations: Dirksen, North America, Baltimore
New rules expected to require that banks keep more capital almost certainly won't apply to smaller institutions, Federal Reserve Chairman Jerome Powell said Thursday. Addressing concerns over proposals to tighten the reins on bigger banks, Powell told members of the Senate Banking Committee that the rules are still in draft stage. At the same time, he also raised concerns about what impact higher capital requirements would have on lending. "More capital means more stable banks and stronger banks, but there's also a trade-off there," he said in the second day of his semiannual testimony on monetary policy. In Powell's understanding, banks below $100 billion in assets won't be impacted by any new requirements.
Persons: Jerome Powell, Powell, there's, You've Organizations: Banking, Housing, Urban Affairs Committee, Federal, Banking Committee, Republican, U.S, Bank, Lawmakers, Biden Locations: Silicon
The U.S. National Reconnaissance Office plans to quadruple the number of satellites on orbit over the next decade. It will need commercial space companies to help do it. "It's helped us improve our reliability so that we can achieve more with more capability at a lower cost," he said. The ambitious game plan speaks to the growing role of commercial space companies in national security work. NRO partners closely with both the U.S. Space Command and the Space Force.
Sen. Elizabeth Warren, D-Mass., greets Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation, during the Senate Banking, Housing, and Urban Affairs Committee hearing in Dirksen Building on Tuesday, March 28, 2023. WASHINGTON — Sen. Elizabeth Warren is asking federal financial regulators for answers over what she called a "deeply troubling" deal that saw JPMorgan Chase take over First Republic Bank. "Our financial strength, capabilities and business model allowed us to develop a bid to execute the transaction in a way to minimize costs to the Deposit Insurance Fund." Instead, the insurance fund was allowed to take a multibillion-dollar loss after billions of dollars worth of the bank's uninsured deposits were rescued during the deal, Warren said. "The FDIC appeared to prioritize First Republic's uninsured deposits at the bank before the Insurance Fund," she said.
A Republican law has slashed the average tax rates of big pharmaceutical companies by more than 40% since it was enacted in 2017, Senate Finance Committee Democrats said in a report Thursday. That provision allowed U.S.-based pharmaceutical companies to access lower tax rates on their foreign income, the report said. Pharmaceutical companies report 75% of their taxable income overseas, the report said. The report said the average rate fell to 11.6% in 2019 and 2020, which resulted in billions of dollars in tax savings for pharmaceutical companies. Wyden also obtained similar information about other U.S. pharmaceutical companies, including Abbott Laboratories , Amgen , Bristol Myers Squibb and Merck .
CDC Director Rochelle Walensky will resign in June
  + stars: | 2023-05-05 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +1 min
CDC Director Dr. Rochelle Walensky on Friday announced she will resign at the end of June, ending a tenure marked by repeated change to adapt to an evolving coronavirus crisis. "The end of the COVID-19 public health emergency marks a tremendous transition for our country, for public health, and in my tenure as CDC Director," Walensky wrote in the letter. The U.S. public health emergency will end Thursday. The World Health Organization on Friday declared an end to the global Covid health emergency. "Dr. Walensky leaves CDC a stronger institution, better positioned to confront health threats and protect Americans," the president said.
Deputy Labor Secretary Julie Su testifies before the Senate Health, Education, Labor and Pensions Committee during her confirmation hearing to be the next secretary of the Labor Department in the Dirksen Senate Office Building on Capitol Hill on April 20, 2023 in Washington, DC. More than 250 business leaders are urging the Senate to confirm acting Labor Secretary Julie Su to helm the department, according to a letter first obtained by CNBC. "Julie Su is a trailblazer whose track record speaks for itself," reads the letter, which cited her experience as Labor secretary of California. Additionally, her experience as U.S. Deputy Labor Secretary has given her a thorough understanding of the Labor Department and the current issues facing the economy, businesses, and workers." She was confirmed to be deputy secretary to former Labor Secretary Marty Walsh in 2021 by a party-line vote, but several key moderate Democrats have yet to say whether they will support her this round.
WASHINGTON — Two top progressive lawmakers questioned whether Silicon Valley Bank offered its largest depositors unusually cushy treatment, one month after the institution collapsed and sparked broader damage to the banking system. "Silicon Valley Bank's unusually cozy relationship with its clients increased the threat of contagion when the bank went under," Warren said in a statement. "The American people deserve to know how these mutual backscratching arrangements developed, who benefitted from them, and what role they played in Silicon Valley Bank's failure." Over 95% of the bank's deposits were uninsured as of December, which threatened companies' ability to make payroll after the bank failed. Warren and Ocasio-Cortez asked the depositors to provide details on any special treatment they received from SVB by April 24.
Pool via REUTERSApril 8 (Reuters) - The federal judge who on Friday suspended approval of the abortion pill mifepristone is a former Christian legal activist whose small courthouse in Amarillo, Texas, has become a go-to destination for conservatives challenging Biden administration policies. U.S. District Judge Matthew Kacsmaryk, an appointee of former Republican President Donald Trump, had a long track record of opposing abortion and LGBTQ rights before the U.S. Senate confirmed him in 2019 to a life-tenured position as a federal judge. When anti-abortion groups in November filed a lawsuit challenging the U.S. Food and Drug Administration's more than two-decade old approval of the abortion pill mifepristone, they filed in Amarillo, guaranteeing the case would be heard by Kacsmaryk. FAVORED VENUESince then, his courthouse has become a favored venue for conservative legal activists and Republican state attorneys general pursuing lawsuits seeking to halt aspects of Democratic President Joe Biden's agenda - often with success. While the district's chief judge could order cases be reallocated, he has not.
New York CNN —Starbucks has fired a Buffalo, New York, worker who “ignited a movement” from one of the first stores in the coffee chain to unionize, Starbucks Workers United said Friday. Alexis Rizzo had been shift supervisor at the Genesee Street store in Buffalo for 7 years, the union said. “This is retaliation at its worst,” a statement from Starbucks Workers United said. Nearly 300 locations have voted to join Starbucks Workers United. “What is outrageous to me is not only Starbucks’ anti-union activities and their willingness to break the law, it is their calculated and intentional efforts to stall, stall and stall,” Sanders said during the hearing.
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The rise in yields suggests traders are growing confident the banking turmoil is subsiding, and they're turning their attention back to inflation. In a bizarre way, even if that's bad news for inflation, that's probably good news for everyone who's been consumed by banking fears in recent days. Subscribe here to get this report sent directly to your inbox each morning before markets open.
The Senate Ethics Committee said Thursday that Sen. Lindsey Graham, R-S.C., violated Senate rules during a Fox News appearance last year when he requested donations for Hershel Walker's Senate campaign in Georgia. It is against Senate rules to seek campaign donations in a federal building. In its letter, the ethics panel issued an "admonishment" but opted not to sanction Graham. The panel also said Graham was a repeat offender, noting that he had asked for donations in an impromptu media interview in the Dirksen Senate Office Building in October 2020. "In response to a reporter's question regarding your reelection campaign fundraising, you directly solicited campaign contributions for your campaign committee," Coons and Lankford wrote.
WASHINGTON — Bipartisan leaders of a Senate committee investigating the failures of Silicon Valley Bank and Signature Bank called Thursday for both institutions' former CEOs to testify about the collapses that have sparked fears about broader economic damage. Ex-SVB CEO Gregory Becker and former Signature CEO Joseph DePaolo "must answer for" their banks' "downfall," wrote Sens. Sherrod Brown, D-Ohio, and Tim Scott, R-S.C., in letters to the former executives. Brown and Scott are the chairman and ranking member, respectively, of the Senate Banking, Housing and Urban Affairs Committee. Brown and Scott urged the two former executives to answer the panel's questions "at a future date."
Biden nominating Julie Su as next US labor secretary
  + stars: | 2023-02-28 | by ( ) www.cnbc.com   time to read: +2 min
Julie A. Su, nominee for deputy secretary of Labor, testifies during her Senate Health, Education, Labor and Pensions Committee confirmation hearing in Dirksen Building on Tuesday, March 16, 2021. President Joe Biden on Tuesday said he planned to nominate Julie Su, the current deputy and former California official, as his next labor secretary, replacing the departing incumbent, former Boston Mayor Marty Walsh. Su, a civil rights attorney and former head of California's labor department, was central to negotiations between labor and freight rail companies late last year, working to avert an economically debilitating strike. If confirmed by the Senate, Su would also be the first Asian-American in the Biden administration to serve in the Cabinet at the secretary level. Vice President Kamala Harris and U.S. Trade Representative Katherine Tai are of AAPI descent but don't lead a Cabinet department.
Total: 25