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☆ House, Senate to renew fight pitting child tax credit vs. corporate cash
▼ + stars: | 2023-02-15 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +9 min

The fate of that corporate tax policy, supported by many Democrats, had been linked to the Democratic Party's desire for a deal on the child tax credit . But House and Senate members are getting ready to reintroduce legislation on the R&D tax credit. Indexing the child tax credit to inflation would also be a matter of tax policy that both parties might agree on as a way to enshrine future increases in law. But there's still the divide on the corporate tax priorities and child tax credit, and at a basic level, getting a bipartisan tax bill through the House and Senate and to the White House is always challenging. Many companies were surprised that the R&D tax credit did not get extended in the late year legislative package because it had so much bipartisan support.

☆ The Democrats' latest strategy is making Marjorie Taylor Greene the face of the GOP
▼ + stars: | 2023-02-14 | by ( Madison Hall | ) www.businessinsider.com time to read: +5 min

But that could come back to haunt Republicans as Democrats increasingly try to paint her as one of the faces of the party. And while many Republicans came out against the plan, Democrats — especially President Joe Biden — have used it as a cudgel against the GOP. And while Democrats lost control of the House, they lost far fewer seats than expected, partly due to utilizing Scott's messaging against the GOP. Democrats can use Greene to their advantageNow as Greene continues to gain power and authority in the GOP and Congress, Democrats have the opportunity to use her own actions and words against the GOP as a whole. There's the possibility that giving Greene larger platform could backfire on Democrats.

☆ Japan’s next central bank chief may rue promotion
▼ + stars: | 2023-02-13 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +7 min

In fact, it has spent an average of 1.3 trillion yen per trading day since the band widened: nearly 50 trillion yen in total, per Refinitiv data, and still counting. The central bank already owns over half of Japan’s sovereign bonds and is sure to suffer large losses when their prices fall, which they eventually must. The central bank chief must also work to put the country’s vast stack of inert money back to work. Kuroda effectively put the central bank at the service of former Prime Minister Shinzo Abe’s “Abenomics” stimulus programme. Fumio Kishida, the current leader, is having popularity problems and will want the central bank to support his aggressive agenda, which includes hiking defence spending, promoting innovative startups and redistributing wealth.

☆ Biden revamp of Democratic primary faces final vote at DNC convention
▼ + stars: | 2023-02-02 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +4 min

The move, another clear sign Biden intends to run for re-election in 2024, would force any potential Democratic primary challenger to square off with Biden in a series of matchups largely of his choosing. Just a simple majority of the members need to approve it, but two states, Georgia and New Hampshire, are not playing along and have been given to June to comply. GRANITE STATEBiden's push to move New Hampshire down the primary calendar has struck a nerve with both Republicans and Democrats in the Granite State. New Hampshire Democratic Senators Jeanne Shaheen and Maggie Hassan sat out the White House congressional ball in December amid anger over the potential changes. In Georgia, Democrats want to move up the calendar but need Republicans who control state government to agree.

☆ Nigeria's Atiku joins calls to extend deadline on old banknotes
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

LAGOS, Jan 28 (Reuters) - Nigerian opposition presidential candidate Atiku Abubakar urged the central bank on Saturday to extend a Jan. 31 deadline to phase out old high-value banknotes, a measure many Nigerians fear will disrupt business in the cash-reliant economy. The central bank started releasing newly designed notes last month but many Nigerians say they are not yet available in banks. The Central Bank of Nigeria (CBN) says recalling the notes is part of plans to reduce the use of cash. About 1.3 trillion naira in old notes has been deposited into the bank since the announcement in October, the bank said this week. Nigerian legislators have also asked the central bank to extend the Tuesday deadline.

☆ Democrats have a Gen Z problem
▼ + stars: | 2023-01-11 | by ( Samuel Abrams | Jeremi Suri | ) www.businessinsider.com time to read: +11 min

November's midterms heralded a new force in American politics: Gen Z voters. Given the narrow margins and the Democrats' ability to retain the Senate despite historical precedent, commentators and analysts declared that Gen Z helped Democrats thwart a Republican wave. Gen Z isn't sold on the whole 'party' thingAmericans are increasingly unhappy with the two-party system. Given these circumstances, Democrats shouldn't take the political loyalty of Gen Z voters for granted. Despite assumptions about their left leanings, members of Gen Z are not firmly behind the Democratic Party, President Joe Biden, or many other well-known Democrats.

☆ Trump says 'abortion issue' is why Republicans underperformed in the 2022 midterms
▼ + stars: | 2023-01-02 | by ( Kit Gillet | ) www.businessinsider.com time to read: +2 min

Donald Trump blamed poor handling of abortion issues for the GOP's lackluster 2022 midterms. Trump said that anti-abortion campaigners disappeared after the Supreme Court overturned Roe v. Wade. In June 2022, the Supreme Court overturned Roe v. Wade, gutting a nearly 50-year-old landmark ruling that legalized abortion nationwide. This followed criticism that Trump-backed candidates were instrumental in losing the GOP its shot at retaking the Senate during the 2022 midterms. Those losses included high-profile Trump-backed Senate candidates Herschel Walker in Georgia and celebrity TV doctor Mehmet Oz in Pennsylvania.

☆ Fourth Japan minister exits PM Kishida's four-month-old cabinet
▼ + stars: | 2022-12-27 | by ( Sakura Murakami | ) www.reuters.com time to read: +1 min

[1/2] Japan's Reconstruction Minister Kenya Akiba visits at Yasukuni Shrine on the 77th anniversary of Japan's surrender in World War Two, in Tokyo, Japan August 15, 2022. REUTERS/Issei KatoTOKYO, Dec 27 (Reuters) - Japanese reconstruction minister Kenya Akiba tendered his resignation to Prime Minister Fumio Kishida on Tuesday, becoming the fourth minister to leave the cabinet created by Kishida in August. Three other ministers have quit in close succession due to scandals, some involving funding and ties with the Unification Church. "It was a difficult decision to make, but I tendered my resignation to the prime minister as I felt I must not hamper the debates in parliament," he added. Akiba will be replaced by former reconstruction minister Hiromichi Watanabe, Kyodo News reported on Tuesday.

☆ Japan PM Kishida to replace embattled reconstruction minister Akiba - NHK
▼ + stars: | 2022-12-26 | by ( Sakura Murakami | ) www.reuters.com time to read: +2 min

TOKYO, Dec 26 (Reuters) - Japanese Prime Minister Fumio Kishida, who is battling low approval ratings, will replace a government minister for the fourth time since he created his current cabinet in August, public broadcaster NHK reported on Monday. Discussions on a replacement for Kenya Akiba, minister responsible for overseeing the reconstruction of areas hit by Japan's massive earthquake and tsunami in 2011, are still underway, the broadcaster said. NHK initially reported that Akiba will be replaced by former financial services agency minister Tatsuya Ito, but later corrected that report to say a successor has not been picked. That's all I can say," Kishida said on Monday when asked whether he planned to replace Akiba. Kishida also plans to replace Mio Sugita, his Parliamentary Vice-Minister for Internal Affairs, Kyodo reported on Monday citing multiple unidentified government sources.

A spokesperson for the Washington Post, which Bezos bought in 2013 for $250 million, said it is not for sale. "A Bloomberg acquisition of the (Post) is not necessarily just a business decision. According to Axios, Bloomberg sees Dow Jones, also the publisher of Barron's and MarketWatch, as the ideal fit but would buy the Post if Bezos was interested in selling. Dow Jones did not immediately respond to Reuters' request for comment. Reuters competes with Dow Jones and Bloomberg News, a unit of Bloomberg L.P., a provider of financial news.

WASHINGTON, Dec 16 (Reuters) - The Democratic Party's three top campaign groups are preparing to return over $1.1 million they have received from imprisoned cryptocurrency tycoon Sam Bankman-Fried, they said on Friday. In a statement, the Democratic National Committee said it was setting aside $815,000 in funds received from Bankman-Fried in light of "potential campaign finance violations" made by the billionaire. The Democratic Senatorial Campaign Committee said it was setting aside $103,000, and the Democratic Congressional Campaign Committee, which oversees the party's campaign arm for the House of Representatives, said it would set aside $250,000. Bankman-Fried said his pro-Republican outlays have not been disclosed to the public, an area of campaign finance known as "dark money." The Washington Post first reported on the campaign groups' decision to set aside the funds.

☆ FTX founder Sam Bankman-Fried made political contributions under other people's names, US authorities allege
▼ + stars: | 2022-12-13 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

A federal indictment alleges FTX CEO and founder Sam Bankman-Fried committed several campaign finance violations. Bankman-Fried is accused of donating to politicians under others' names, wire fraud, money laundering, and more. And among the litany of charges levied against Bankman-Fried, he's accused of committing several campaign finance violations. One way that Bankman-Fried defrauded the US, the indictment alleges, is by donating to candidates and political action committees using other people's names. Using these methods, the indictment alleges Bankman-Fried and unnamed others donated more than $25,000 in total in a calendar year, in violation of campaign finance regulations.

☆ Elon Musk praises Kyrsten Sinema for leaving the Democratic Party: 'I hope more of our elected leaders act independently'
▼ + stars: | 2022-12-09 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Elon Musk praised Sen. Krysten Sinema for leaving the Democratic Party. "I hope more of our elected leaders act independently ...," Musk wrote on Twitter. Elon Musk wrote on Twitter. Musk wrote on Twitter. Arizona Democratic Party Chairwoman Raquel Terán blasted Sinema as someone who "has shown she answers to corporations and billionaires, not Arizonans."

The answer is simple, according to more than a dozen Washington insiders, FTX employees, and crypto industry observers who spoke with Insider. I don't think anyone believed that he was going to fund candidates who were, quote unquote, committed to ending pandemics who were also hostile to the crypto industry." Alex Wong/Getty ImagesRebuffed by the SEC, Bankman-Fried turned his attention to Congress. "It's not that he was welcoming regulation," says the senior figure in the crypto industry who attended meetings with Bankman-Fried. But while Bankman-Fried was busy wooing Washington, FTX was about to become Exhibit A in the case for more effective oversight of the crypto industry.

Democratic leaders in New Hampshire and Iowa quickly responded that they plan to ignore the DNC, follow state law and hold their nominations as planned. A New Hampshire law explicitly sets the state's primary date ahead of any DNC calendar. The changes could ease Biden's path to re-election by reshuffling the calendar to favor states that supported his nomination, in particular South Carolina. Biden's 2020 presidential campaign was struggling until he won South Carolina and went on to gain the party's nomination. "Joe Biden's political career was defined when South Carolina Democrats essentially handed him the Democratic Party nomination and the presidency," said Scala.

[1/7] U.S. Rep. Hakeem Jefferies (D-NY) walks on the day of House Democratic leadership elections on Capitol Hill in Washington, U.S., November 30, 2022. The vote by Jeffries' fellow Democrats also marked the rise of a younger generation of leaders in the 435-member House and the end of the Nancy Pelosi era. In 2007 she became the first woman to be elected House speaker. Jeffries, a 52-year-old New Yorker, will hold the position of House Democratic leader for the 118th Congress that convenes on Jan. 3. Democratic Senate Majority Leader Chuck Schumer said he was not surprised that Jeffries, a fellow Brooklynite, was chosen.

☆ Dems elect Hakeem Jeffries as first Black House leader
▼ + stars: | 2022-11-30 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsDems elect Hakeem Jeffries as first Black House leaderPostedHakeem Jeffries was unanimously elected on Wednesday (November 30) to become the Democratic Party's top leader in the U.S. House of Representatives beginning in January. This report produced by Chris Dignam.

☆ 'It's an honor' -Hakeem Jeffries elected to replace Pelosi by House Democrats
▼ + stars: | 2022-11-30 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

Politics'It's an honor' -Hakeem Jeffries elected to replace Pelosi by House DemocratsPostedHakeem Jeffries was unanimously elected on Wednesday (November 30) to become the Democratic Party's top leader in the U.S. House of Representatives beginning in January, making him the first Black American to hold such a high-ranking position in Congress.

☆ California Gov. Gavin Newsom said he told Biden he won't run for the White House in 2024 and will support the president's expected reelection bid: 'I'm all in, count me in'
▼ + stars: | 2022-11-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Gavin Newsom told President Biden he was backing his expected 2024 reelection campaign. "He not only beat Trump once, I think he can beat him again," the California governor said of Biden. Newsom told Politico's Jonathan Martin that he "told everyone in the White House" of his decision. Newsom "told everyone in the White House" ranging "from the chief of staff to the first lady" about his intentions, he revealed to Martin — and was firmly behind the president's expected reelection bid. "I'm all in, count me in," Newsom told the pair, per his conversation with Martin.

Japan and Britain hope to agree by the end of the year to merge their next-generation Tempest and F-X fighter programmes, sources said in July. Those talks, aimed at a joint project to field a plane in the mid-2030s, remain on track, according to four other people familiar with the discussions. Japan ended a ban on military exports in 2014 in a bid to promote overseas sales. An export boom, however, failed to materialize because Japan only allowed sales of non-lethal gear such as surveillance and rescue equipment. LDP lawmakers, Onodera said, are also discussing a joint U.S-Japan command structure that could be formed for national emergencies.

☆ Lower valuations, regulatory crackdowns, and a push for DeFi: 5 VCs break down their crypto-market outlooks after FTX's swift downfall
▼ + stars: | 2022-11-21 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +9 min

FTX, the crypto exchange once worth $32 billion, filed for Chapter 11 bankruptcy on Nov 11. FTX, the crypto exchange reportedly worth $32 billion in February, filed for Chapter 11 bankruptcy on Nov. 11. A regulatory crackdown and the bull case for DeFiInsider asked five venture investors about their biggest takeaways from the fallout. "First, the crypto market is being de-leveraged, which paves the way for the next upturn. Risks of FTX's downfall could have been mitigated with a "hands on approach" by venture investors.

☆ Kamala Harris, Philippines' Marcos to discuss Taiwan -envoy
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Vice-President Kamala Harris delivers remarks at the Pennsylvania Democratic Party's third annual Independence Dinner in Philadelphia, Pennsylvania, U.S., October 28, 2022. Reuters/Tasos KatopodisMANILA, Nov 17 (Reuters) - Tension over Taiwan is expected to be on the agenda when U.S. Vice President Kamala Harris meets Philippine President Ferdinand Marcos Jr next week, Manila's ambassador to Washington said on Thursday. "I'm sure they will touch on the Taiwan situation," Ambassador Jose Manuel Romualdez told Reuters by telephone, adding that the Philippines wants to play a role in peaceful co-existence between the United States and China. It has frequently accused the United States in recent years of encouraging Taiwan independence. If there is a conflict that happens in Taiwan, nobody is going to be spared," Romualdez said.

☆ Pelosi snubs Trump in leadership exit announcement, says she 'enjoyed' working with 3 presidents: Bush, Obama, and Biden
▼ + stars: | 2022-11-17 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +3 min

House Speaker Nancy Pelosi announced she's stepping down from leadership after two decades. She mentioned she 'enjoyed' working with three presidents: Bush, Obama, and Biden. Speaking on the House floor, Pelosi took a victory lap over legislative achievements she'd had under former Presidents George W. Bush, Barack Obama, and Joe Biden, holding up three fingers and saying she "enjoyed working under three presidents." Without saying "Trump," however, Pelosi did reflect on the threat posed to democracy when a mob of Trump supporters attacked the Capitol on January 6, 2021. Pelosi later told reporters that she ripped up the speech because "it was the courteous thing to do considering the alternatives."

☆ Nancy Pelosi announces leadership exit after 2 decades leading House Democrats
▼ + stars: | 2022-11-17 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +4 min

House Speaker Nancy Pelosi announced that she is stepping aside from her leadership role. The decision comes after Republicans narrowly won the House majority. The decision comes in the wake of Republicans narrowly winning the House majority, ending Pelosi's latest two consecutive terms as Speaker. "Never had I thought that someday I would go from homemaker to House Speaker," the California Democrat, first elected in 1987, said. At 82, Pelosi has long served alongside House Majority Leader Steny Hoyer, 83, and House Majority Whip Jim Clyburn, 82, in leadership.

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