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☆ FTC's main concern with A.I. is confirming what is and isn't authentic communication: Rep. Ro Khanna
▼ + stars: | 2023-07-13 | 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 EmailFTC's main concern with A.I. is confirming what is and isn't authentic communication: Rep. Ro KhannaRep. Ro Khanna (D-California) joins 'Last Call' to talk the FTC's investigation into ChatGPT, misinformation on A.I. chatbots and more.

Persons: Ro Khanna Locations: California

☆ Meet a student-loan borrower with $101,000 in debt who doesn't have 'any hope' with Biden's new plan for loan forgiveness: 'I'm never going to be able to pay it down'
▼ + stars: | 2023-07-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Jarrett, 38, has $101,000 in student debt and was hopeful for Joe Biden's loan forgiveness. He told Insider he didn't think Biden's new plan for relief would deliver for borrowers. For years after graduating, he struggled to find steady employment and placed his initial student-loan balance of about $60,000 on forbearance. "I'm never going to be able to pay it down," Jarrett told Insider. And I certainly don't think that what he's doing now is going to address the issue either."

Persons: Jarrett, Joe Biden's, Jarrett —, —, doesn't, I'm, I've, Biden, Jarrett isn't, Alexandria Ocasio, Ro Khanna, he's Organizations: Service, Education Department, Higher, Democratic, CNN, Biden Locations: Wall, Silicon, Alexandria, Cortez

☆ AOC says student-loan borrowers 'should not be incurring interest' for at least a year after payments resume as she calls on Biden to 'consider' altering his plan
▼ + stars: | 2023-07-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

"I would like to see interest payments suspended during this time, especially during that 12-month ramp-up period," Ocasio-Cortez said. People should not be incurring interest during this 12-month on-ramp period, so I highly urge the administration to consider suspending those interest payments." "Of course, we still believe in pursuing student-loan cancellation and acting faster than that 12-month period wherever possible," she added. Biden has not yet commented on those requests, but the Education Department recommends borrowers make payments because interest is set to accrue a month before payments begin again in October. "However, the Secretary has directed his staff to explore policy options for debt relief that will help as many people as possible."

Persons: Alexandria Ocasio, Cortez, Biden, —, Joe Biden's, Cortez isn't, Ro Khanna, it's Organizations: Service, Supreme Court, CNN, ABC News, Higher, Education, Department, Federal Locations: Rep, Alexandria, California

☆ Student-loan borrowers who qualified for the first debt relief plan are not yet guaranteed relief under Biden's new route
▼ + stars: | 2023-07-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Biden is planning to cancel student debt under a new law after the Supreme Court struck down his first plan. He'll use the Higher Education Act, which requires hearings and public comment. The Higher Education Act states that the Education Department can "enforce, pay, compromise, waive, or release any right, title, claim, lien, or demand" related to federal student debt. Given the new standards surrounding the Higher Education Act, it's not yet guaranteed that the same borrowers who benefitted from Biden's first proposal will qualify for the president's new plan. "However, the Secretary has directed his staff to explore policy options for debt relief that will help as many people as possible."

Persons: Biden, —, Joe Biden's, It's, Miguel Cardona, it's, Bharat Ramamurti, Cardona, Alexandria Ocasio, Cortez, Ro Khanna, SCOTUS, Khanna Organizations: Service, Higher, Education Department, Education, National Economic Council, New York Rep, CNN, Twitter Locations: Biden's, Alexandria

☆ Student-loan payments are resuming in 3 months — and borrowers might not be ready for the 'sizeable shock' to their wallets
▼ + stars: | 2023-06-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan payments are set to resume in October. Bank of America and Morgan Stanley highlighted the strain borrowers will face. 34% of surveyed borrowers don't think they can afford the payments at all, Morgan Stanley said. Morgan Stanley survey on student-loan payments. Morgan StanleyAnd a Monday note from Morgan Stanley researchers said that just 29% of federal student-loan borrowers are confident they'll be able to afford payments without adjusting spending in other areas.

Persons: Morgan Stanley, —, Joe Biden's, Donald Trump, Biden, Ethan Harris, Harris, Marshall Steinbaum, Miguel Cardona, Cardona, Ro Khanna Organizations: Bank of America, Service, Joe Biden's Education Department, " Bank of, Family Institute, University of Utah, Senate, Twitter Locations: California

☆ A key driver behind ballooning student-loan balances is about to come back after a 3-year pause
▼ + stars: | 2023-06-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Student-loan payments, and interest, have been on pause for over three years. Interest has been a key driver of surging student-loan balances due to capitalization. "I feel like I've actually been responsible, and I've paid a considerable amount of money on my student loans," Wise said. "The only policy that has ever ended this debt cycle is the repayment pause, and the cycle is all but guaranteed to restart once the repayment pause comes to an end." "It would be political malpractice to have students repay student loans under Biden when Trump provided the relief," California Rep. Ro Khanna told The Washington Post.

Persons: —, David Wise, I've, Wise, Miguel Cardona, Joe Biden, Biden, " Cardona, Trump, Ro Khanna Organizations: Service, Education Department, Supreme, Jain, Institute, Federal Student Aid, Congress, Democratic, Biden, Washington Post Locations: California

☆ We need a manufacturing renaissance here in the U.S., says Rep. Ro Khanna
▼ + stars: | 2023-06-16 | 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 EmailWe need a manufacturing renaissance here in the U.S., says Rep. Ro KhannaRep. Ro Khanna (D-Calif.) joins 'Squawk Box' to discuss Khanna's recent movements, the congressman's focus on onshoring manufacturing jobs, and much more.

Persons: Ro Khanna Locations: U.S

☆ Student-loan borrowers will begin making payments in October — and they'll be notified 'well before' their first bill is due, Biden's Education Department says
▼ + stars: | 2023-06-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan borrowers will resume payments in October, the Education Department confirmed. Borrowers are awaiting a Supreme Court decision on Biden's broad debt relief in the coming weeks. Per the documents, the department was preparing to resume interest accrual on borrowers' student loans in September, and they would not be hit with a bill until October. A Supreme Court decision could come on Friday or the next two Thursdays of June, and additional days could be added to the calendar. "Our concern is only heightened by the prospect of an unfavorable ruling in coming days framed by a conservative, right-wing majority of the Supreme Court.

Persons: —, Joe Biden's, Biden, Ayanna Pressley, Ro Khanna, Trump, Derrick Johnson, Wisdom Cole Organizations: Education Department, Service, Politico, Biden, An Education Department, Democratic, Supreme Court, Massachusetts, Washington Post, NAACP, Youth and College Locations: California

☆ Student-loan borrowers are about to be thrown back into repayment, and the economy will suffer — especially if Biden's debt cancellation is struck down
▼ + stars: | 2023-06-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Education Secretary Miguel Cardona has confirmed student-loan payments will resume this year. In March 2020, former President Donald Trump first implemented the student-loan payment pause to give borrowers financial relief during the pandemic. 'We're looking at a pretty severe fiscal contraction'Steinbaum previously told Insider that the economy has been "more than fine" without borrowers' student-loan payments. But they're a weight, it's about 20 million student-loan borrowers that haven't been paying, they'll have to begin paying more or less in September," Zandi said. Democratic lawmakers have been sounding the alarm on the harmful impacts a payment resumption would have without Biden's broad debt relief.

Persons: Miguel Cardona, —, It's, Donald Trump, Trump, Joe Biden, — Biden, We're, Cardona, Biden, Kevin McCarthy, Marshall Steinbaum, Steinbaum, Mark Zandi, haven't, Zandi, that's, it's, Ayanna Pressley, Countess, Ro Khanna Organizations: Supreme, Service, Education, Family Institute, University of Utah, Education Department, Moody's, CNBC, Relief, Getty, Democratic, Massachusetts, Twitter Locations: Washington ,

☆ Some Democrats don't like Biden and McCarthy's debt-ceiling bill — but they'll vote for it because 'the macro alternative is absolutely indigestible'
▼ + stars: | 2023-06-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Many Democratic lawmakers are unhappy with the debt-ceiling bill that just passed the House. But some of them will vote for the bill anyway because they say a default would be far worse. "The macro alternative is absolutely indigestible," Rep. Jamie Raskin told Politico. On Wednesday night, the House easily passed Biden and McCarthy's Fiscal Responsibility Act with a bipartisan vote of 314-117. Other Democrats feel the same — but fear a default on the nation's debt would be worse than signing the bipartisan debt-ceiling bill into law.

Persons: Jamie Raskin, —, Joe Biden's, Kevin McCarthy's, they'll, Biden, Vermont Sen, Bernie Sanders, Politico, Sen, Elizabeth Warren of, she's, Janet Yellen, McCarthy, Alexandria Ocasio, Ro Khanna, Chuck Schumer, Nobody's Organizations: Democratic, Service, Congressional, Office, SNAP, Elizabeth Warren of Massachusetts, Politico, Republicans, Social Security, Medicare, Congressional Progressive Caucus, Caucus, Twitter Locations: Vermont, Alexandria, Cortez

☆ Meet David Sacks, the friend of Elon Musk who could play kingmaker for Ron DeSantis
▼ + stars: | 2023-06-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +12 min

Ron DeSantis — including hosting the candidate's kickoff event on Twitter — demonstrate how Sacks is working to become a GOP kingmaker. A DeSantis campaign spokesman did not return a request for comment before publication. Sacks, according to Puck, serves as one of the group's directors. Kevin McGrann, a lobbyist at government relations juggernaut Forbes Tate Partners, is also linked to Bay Strategies, according to Hall. And Sacks said during a recent episode that he plans to ask the DeSantis campaign for the Florida governor to agree to an interview.

Persons: David Sacks, Paul Chinn, Caroline Wren, Wren, Donald Trump's, Jan, president's, Sacks, George Soros, Puck, Ron DeSantis, Peter Thiel, Ro Khanna, didn't, Joe Biden, Thiel, Elon Musk, –, Joe Lonsdale's, Julie Samuels, Samuels, DeSantis, I've, Trump, Stewart Hall, Jill Kendrick, Hall, Sen, Richard Shelby, Kendrick, Kevin McGrann, juggernaut Forbes, McGrann, John Boehner, OpenSecrets, Musk, Bari Weiss, isn't, Peter, Jason Calacanis, David Friedberg, Chamath, Robert F, Kennedy Jr, Kennedy, Biden, Nikki Haley, Calacanis Organizations: TechCrunch, Calif, San Francisco Chronicle, Hearst Newspapers, Getty Images Venture, Trump, U.S . Capitol, Republicans, Commission, Florida Gov, Twitter, GOP, PayPal, CNBC, Democratic, Microsoft, DeSantis, Purple Good Government PAC, FEC, Ron DeSantis PAC, PAC, Republican Party, Purple Good Government, Stewart, Public, Crossroads, Altria Group, Boeing, General Electric, Hearst Corp, Washington , D.C, Forbes Tate Partners, juggernaut Forbes Tate Partners, Forbes Tate, Association of Independent Mortgage Experts, United Wholesale Mortgage, SpaceX, Republican, YouTube, Biden, CNN Locations: San Francisco, Florida, Silicon, Trump, DeSantis, Puck, Washington ,, Ohio

☆ Dianne Feinstein once became confused after seeing Vice President Kamala Harris preside over the Senate, report says
▼ + stars: | 2023-05-28 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Sen. Feinstein was confused by VP Harris presiding over the Senate last year, per a New York Times report. Feinstein said, according to an unnamed individual who was present at the time. Feinstein, 89, asked of Harris, according to an unnamed individual who was present at the time. Upon her return, a New York Times report then disclosed that she also suffered from Ramsay Hunt Syndrome, a neurological disorder that in the senator's case was brought on by her bout with shingles. Rep. Ro Khanna, a fellow Bay Area lawmaker, in April called on Feinstein to resign from office, and reiterated his position this month.

☆ California Rep. Ro Khanna again calls on Dianne Feinstein to resign over health concerns: 'It's painful to watch.'
▼ + stars: | 2023-05-20 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Rep. Ro Khanna said it was "painfully obvious" that Sen. Feinstein should no longer serve in office. "I think they should have a loving conversation about it being time," Khanna said of Feinstein's confidantes. "First, let me say, I admire her career," Khanna told Wagner. Upon her return to the Senate, Feinstein appeared disoriented as an aide whisked her through the Capitol, according to The Times. "While she has had a lifetime of public service, it is obvious she can no longer fulfill her duties.

☆ OpenAI CEO wows lawmakers at closed dinner: 'Fantastic…forthcoming'
▼ + stars: | 2023-05-16 | by ( Lauren Feiner | ) www.cnbc.com time to read: +6 min

OpenAI CEO Sam Altman spoke to an engaged crowd of about 60 lawmakers at a dinner Monday about the advanced artificial technology his company produces and the challenges of regulating it. The wide-ranging discussion that lasted about two hours came ahead of Altman's first time testifying before Congress at a Senate Judiciary subcommittee on privacy and technology hearing on Tuesday. The dinner discussion comes at a peak moment for AI, which has thoroughly captured Congress' fascination. "There isn't any question where he pulls back on anything," she said, adding that lawmakers had very thoughtful things to ask. Khanna said the question of openness of the model is something he's discussed with Altman before, though not at Monday's dinner.

CNN —Democratic Sen. Dianne Feinstein of California, who has been away from the Senate since February while recovering from shingles, will return to Washington on Tuesday, according to a spokesperson. Feinstein sits on the Senate Judiciary Committee, and without her vote on the panel, Democrats said that they would have to delay some of President Biden’s key judicial nominees. In April, Democratic Rep. Ro Khanna of California became the first member of Congress to call on Feinstein to resign. In April, the California senator asked Senate Majority Leader Chuck Schumer to temporarily replace her on the Judiciary Committee, and he proposed that Maryland Sen. Ben Cardin take her spot. She needs to get well so she can get back to work,” Iowa Sen. Chuck Grassley, who is also 89, said.

☆ New York Times editorial board says Chuck Schumer should pressure Dianne Feinstein to 'return or resign'
▼ + stars: | 2023-05-05 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

The New York Times editorial board said that Chuck Schumer should pressure Dianne Feinstein to "return or resign." "If she cannot fulfill her obligations to the Senate and to her constituents, she should resign and turn over her responsibilities to an appointed successor," the board wrote. According to its website, the New York Times editorial board comprises opinion journalists "who rely on research, debate and individual expertise to reach a shared view of important issues." A group of women Democratic senators, however, told Insider that the calls for Feinstein to resign were sexist and "unprecedented." Noting this point, the New York Times editorial board agreed that in its history, the historically predominately male Senate has had several instances of its male members missing years of legislative session time due to illness.

☆ Photo of Chuck Schumer's notes show he's 'hopeful' Dianne Feinstein returns to the Senate next week
▼ + stars: | 2023-05-03 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Chuck Schumer and Dianne Feinstein are "hopeful" she'll return to the Senate next week, per a photograph of Schumer's notes. Feinstein hasn't voted in the Senate since mid-February, around the time of her shingles diagnosis. In her absence, Senate Democrats have faced difficulties confirming judges. With Feinstein absent from the Senate, Senate Republicans — along with Democratic Sen. Joe Manchin — voted 50-49 to roll back a Biden-era Environmental Protection Agency rule regarding pollution from trucks. Several prominent California Democrats have already declared to run for her seat, including Reps. Adam Schiff and Katie Porter.

☆ White House banking headache won’t end with First Republic deal
▼ + stars: | 2023-05-01 | by ( Stephen Collinson | ) edition.cnn.com time to read: +7 min

JPMorgan Chase is buying most assets of the troubled First Republic Bank and assuming all of its deposits in a deal announced Monday that was arranged by the US Federal Deposit Insurance Corporation. The independent agency’s new forced intervention is likely to fuel concerns about the overall health of the US banking sector. Biden’s new political headacheThe new concerns over the banking sector put the administration back in an unappealing position. Some progressive Democrats have balked at the idea that already mighty banks will get bigger by stepping in to snap up assets of troubled banks. On Sunday, he called for a shift in federal government policy to ensure all bank deposits.

☆ Hakeem Jeffries is enjoying an early honeymoon leading House Democrats. But one day, he'll have to make 'hard commitments.'
▼ + stars: | 2023-05-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +16 min

House Democrats say Hakeem Jeffries is a better listener and is more consensus-oriented than Pelosi. There's one big reason for it: House Democrats can't pass any of their own bills right now. Pelosi and Jeffries on the House floor after she announced she would step down from party leadership on November 17, 2022. 'He gets it'Jeffries, 52, has enjoyed a rapid ascent to the top of the Democratic caucus. "There were always very different views within the Democratic caucus on people who voted their district," said Slotkin.

☆ The insurance limit on your savings has become a hot global debate
▼ + stars: | 2023-04-28 | by ( Julia Horowitz | ) edition.cnn.com time to read: +8 min

The US Federal Deposit Insurance Corporation insures deposits up to $250,000 per person, per account, using a fund that banks pay into. “I don’t think that’s served us well.”Some argue the US deposit insurance limit should be 100 times higher. What is deposit insurance? Deposit insurance is aimed at calming fears, giving customers less reason to pull their cash out in a hurry. The debate over deposit insurance taps into bigger questions about the state’s role in private enterprise.

☆ Dianne Feinstein's ongoing absence allowed Senate Republicans and Joe Manchin to overturn a Biden rule reducing pollution from large trucks
▼ + stars: | 2023-04-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Senate Republicans and Sen. Joe Manchin voted to roll back an EPA regulation on truck pollution. Democratic Rep. Ro Khanna argued it wouldn't have passed had Sen. Dianne Feinstein been present. Senate Republicans and Democratic Sen. Joe Manchin took advantage of Democratic Sen. Dianne Feinstein's ongoing medical leave to roll back a significant environmental regulation on Wednesday. Democratic Rep. Ro Khanna argued in a tweet on Thursday that Feinstein's prolonged absence from the Senate has repeatedly blocked Democrats' ability to succeed in crucial votes, including the EPA rule vote. Supporters of the EPA rule say it's a reasonable and cost-efficient change that's well-worth the lives it's expected to improve and save.

☆ Telling Dianne Feinstein to resign is sexist and 'unprecedented,' women Democratic senators say
▼ + stars: | 2023-04-19 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

But Democratic women in the Senate say gender is playing a role in how her absence is being handled. But women Democratic senators told Insider at the Capitol on Wednesday that they believe sexism is at play and that the chamber's longest-serving Democrat is being held to an unfair standard because she is a woman. More recently, Democratic Sen. John Fetterman of Pennsylvania was recently absent from the chamber for six weeks as he sought treatment for clinical depression. "I think it's important for Senator Feinstein to do what is what is best for her," said Democratic Sen. Jeanne Shaheen of New Hampshire. "I just believe that it's not somebody else's assessment to make; it's her assessment to make," said Democratic Sen. Tammy Baldwin of Wisconsin.

☆ Sen. Feinstein requested to temporarily have someone replace her on the Judiciary Committee amid health concerns, but Republicans could prevent that from happening
▼ + stars: | 2023-04-13 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Sen. Dianne Feinstein asked Senate Majority Leader Chuck Schumer to temporarily replace her on the Judiciary Committee. Without her in Washington, DC, Democrats have been unable to confirm as many Biden judges as preferred. Feinstein currently sits on the Senate Judiciary Committee, where Democrats hold 11 seats compared to the Republican Party's 10. Feinstein released a statement saying that she asked Schumer to have a Democrat temporarily replace her on the Judiciary Committee until her health concerns subside. If Republicans in the Senate prevent the committee change from happening, it could lead to even more pressure from Democrats for Feinstein to resign.

☆ House Dems start to call on Sen. Dianne Feinstein to resign
▼ + stars: | 2023-04-12 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Two Democratic members of Congress just called on Sen. Dianne Feinstein to retire. "I agree with @RoKhanna," Phillips wrote, "Senator Feinstein is a remarkable American whose contributions to our country are immeasurable. Feinstein, who's 89 years old, hasn't cast a vote since mid-February, around the time of her shingles diagnosis. Feinstein currently sits on the Senate Judiciary Committee, where Democrats hold 11 votes to the Republican Party's 10. Without Feinstein present, committee chair Sen. Dick Durbin has for delay committee meetings on multiple occasions when Feinstein would be the pivotal 11th vote, according to NBC News.

☆ Lawmakers meet with Apple, Disney CEOs as part of talks on competition with China
▼ + stars: | 2023-04-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +7 min

High-profile tech and media executives shared their experiences of working in and competing with China with lawmakers who visited California this week. Over the three-day trip that kicked off on Wednesday, lawmakers were scheduled to meet with Disney CEO Bob Iger and Apple CEO Tim Cook, as well as high-level executives from Google , Microsoft , Palantir and Scale AI. The trip highlights the key role tech and media industries play in America's increasingly complex relationship with China. In Hollywood, the group of lawmakers from the select committee learned about a range of topics related to competition with China. The group was also slated to meet with venture capitalists on Thursday, including Andreessen Horowitz, Khosla Ventures and SV Angel.

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