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Chiquita Brooks-LaSure testifies before the Senate Finance Committee during her nomination hearing to be administrator of the Centers for Medicare & Medicaid Services in Washington on Thursday, April 15, 2021. The Biden administration on Thursday called on companies to help keep their employees insured as millions of people across the U.S. suddenly coverage through Medicaid. Companies are required to give employees a minimum of 60 days to enroll in their group health plans. Brooks-LaSure said, however, this isn't enough time given how many people are suddenly losing Medicaid coverage. Medicaid coverage surged to a historic high of more than 86 million people by March 2023, a 35% increase over February 2020.
Persons: Chiquita Brooks, LaSure, Biden, Brooks Organizations: Senate, Committee, Centers, Medicare, Medicaid Services, Medicaid, Services Locations: Washington, U.S
Justice Clarence Thomas and GOP megadonor Harlan Crow's yacht trips have come under scrutiny again. Per ProPublica, Crow registered his yacht as a charter vessel but only took close friends on trips. As a result, he could pay his own company, report losses, and save on his tax bill, per ProPublica. Some of those were trips aboard Crow's yacht, the Michaela Rose, and were organized through Rochelle Charter, a company registered to charter the yacht. In April, Crow and Thomas first faced scrutiny related to the 20 years worth of undisclosed trips Crow is accused of gifting to Thomas, per ProPublica.
Persons: Clarence Thomas, Harlan, Per, Crow, Thomas, Michaela Rose, Ron Wyden, ProPublica, gifting, Thomas —, Organizations: Service, Privacy, ProPublica, Dallas Morning News, Democrats Locations: Wall, Silicon, Rochelle
In the months before the 2020 presidential election, Roy W. Bailey, a Dallas businessman, received a stream of text messages from Donald J. Trump’s re-election campaign, asking for money in persistent, almost desperate terms. “Have you forgotten me?” the messages read, Mr. Bailey recalled. “Have you deserted us?”Mr. Bailey was familiar with the Trump campaign: He was the co-chair of its finance committee, helped raise millions for the effort and personally contributed several thousand dollars. “Think about that,” Mr. Bailey said recently about the frequency of the messages and the beseeching tone. “That is how out of control and crazy some of this fund-raising has gotten.”He did, ultimately, desert Mr. Trump: He is now raising money for Gov.
Persons: Roy W, Bailey, Donald J, Trump’s, , Mr, Trump, , Ron DeSantis Organizations: Gov, Republican Party Locations: Dallas, Florida
And Bristol Myers Squibb is trying protect its blood thinner Eliquis, which brought in $11.8 billion in sales last year, or about 25% of the company's $46 billion total revenue for 2022. Long legal battle aheadMerck, the chamber and Bristol Myers Squibb filed their lawsuits ahead of two key deadlines. Bristol Myers Squibb did not either. If circuit court decisions on the matter contradict one another, the Supreme Court would step in to decide the issue, Bagby said. Bristol Myers Squibb made an identical argument in its complaint.
Persons: Richard A, Gonzalez, Pascal Soriot, Giovanni Caforio, Jennifer Taubert, Johnson, Kenneth C, Frazier, Albert Bourla, Olivier Brandicourt, Win Mcnamee, Drugmaker Merck, Drugmaker, Bristol Myers Squibb, PhRMA, Eli Lilly, Merck, Bristol Myers, Robin Feldman, Nicholas Bagley, Bagley, Gretchen Whitmer, Chris Meekins, Raymond James, Antonin Scalia, Brett Kavanaugh, Neil Gorsuch, Meekins, Long, Xavier Becerra, Randolph Daniel Moss, Barack Obama, Judge Thomas M, Rose, George W, Bush, Kelly Bagby, Bagby, Amgen, Donald Trump, Karine Jean, Pierre, Biden, Jean, we'll, Becerra, Feldman Organizations: Senate, AbbVie Inc, AstraZeneca, Myers Squibb Co, Janssen Pharmaceuticals, Johnson, Merck & Co, Inc, Pfizer, Sanofi, Getty, U.S . Chamber of Commerce, Bristol Myers Squibb, Washington , D.C, Southern, Southern District of, Democratic Party, U.S, Merck, Bristol, Pharmaceutical Research, Manufacturers of America, CNBC, Medicare, University of California College of, Justice Department, Michigan Gov, Bristol Myers, Human Services, Centers, Services, AARP Foundation, HHS, AARP, Specialty Pharmacy, Reuters, Supreme, Appeals, Democratic, U.S . Sixth, Republican, Third, White Locations: America, Washington , DC, Bristol, U.S, Washington ,, Southern District, Southern District of Ohio, New Jersey, Commerce's Dayton , Ohio, San Francisco
Sen. Mike Rounds praised Sen. Tim Scott as "the closest to a Ronald Reagan" in the 2024 GOP WH race. Rounds recalled comparing Scott to the GOP icon during an interview with The Washington Post. Rounds and Sen. John Thune, both of South Dakota, are supporting Scott's presidential campaign. "I think he's the right guy for the job, positive," Rounds said of Scott during a conversation with Thune. "He's the closest to a [new] Ronald Reagan, in terms of his excitement, his ability to communicate, his forward-thinking, his understanding of defense issues, his understanding of business."
Persons: Sen, Mike Rounds, Tim Scott, Ronald Reagan, Rounds, Scott, John Thune, , John Thune of, Scott —, Thune, Donald Trump, Ron DeSantis Organizations: GOP, Washington Post, Service, South, Republican, Senate Banking Committee, Senate Finance, Republicans Locations: South Dakota, South Carolina, John Thune of South Dakota, Florida
CNN —Lawmakers’ calls to investigate the proposed merger between the US-based PGA Tour and Saudi Public Investment Fund–backed LIV Golf are escalating. An investigation by CFIUS would not be the first probe into the surprise merger between the PGA Tour and LIV Golf, formerly bitter rivals. The Senate Finance Committee and the Senate Permanent Subcommittee on Investigations have also opened separate probes into the deal. Waters and Brown acknowledged the multiple investigations in their letter, writing, “We understand and appreciate that CFIUS is, by statute, an authority of last resort. Before the deal announcement, PGA Tour and LIV Golf were locked in a legal battle and traded barbed accusations of unfair competition, but the two organizations agreed to drop all pending litigation under the new agreement.
Persons: LIV, Maxine Waters, Sen, Sherrod Brown, Waters, Brown, , Mohammed bin Salman, bin Salman, Jamal Khashoggi, Bin Salman, CFIUS, LIV Golf Organizations: CNN, Tour, Saudi Public Investment Fund, Financial Services Committee, Banking, Housing, Urban Affairs Committee, US Treasury Department, Foreign Investment, Treasury, PGA, Wall Street Journal, US Department of Justice, Finance, Investigations Locations: Ohio, United States, “ Saudi Arabia, Saudi, Saudi Arabia
The proliferation of state programs has been sparked by the temporary expansion of the federal child tax credit during the pandemic. The credit, created in the mid-1990s, reduces the amount that families with children owe in federal income taxes. The only two states that had created refundable child tax credits before the pandemic, New York and California, both significantly increased eligibility. The largest credit, which Minnesota created in May, offers up to $1,750 per child for households with incomes below $35,000 per year — roughly half the lapsed federal credit. But unlike the federal expansion, the state credits are meant to be permanent.
Persons: , ” Melissa Lester, Kitty Hawk, Organizations: Republicans, Democratic Locations: Columbus , Ohio, New York, California, Minnesota
CNN —The backlash to the proposed merger between the PGA Tour and LIV Golf intensified as Senate Finance Committee Chairman Ron Wyden, D-Oregon, opened an investigation into the deal on Thursday. The committee will probe the deal between the US-based PGA Tour and the Saudi Public Investment Fund-backed LIV Golf and assess what the deal means for national security. The PGA Tour and LIV Golf did not immediately respond to CNN’s request for comment. The surprise deal this month between the PGA Tour and LIV Golf, competing tours locked in a legal battle before the merger announcement, has faced growing opposition from lawmakers. The US-based PGA Tour said the merger would “unify the game” and all pending litigation between the tours would be dropped under the new agreement.
Persons: LIV Golf, Ron Wyden, ” Wyden, Wyden, Mohammed bin Salman, Bin Salman, Jamal Khashoggi, Elizabeth Warren, LIV, Organizations: CNN, PGA, Saudi Public Investment Fund, Saudi, of Justice, PGA Tour, DOJ, Democratic, Senate, LIV Locations: Oregon, United States, Saudi, Saudi Arabia, U.S
WASHINGTON, June 14 (Reuters) - A bipartisan group of six senators and two members of the House of Representatives on Wednesday introduced legislation to protect Americans’ data from being used by U.S. adversaries. TikTok denies any improper data use and says it has spent more than $1.5 billion on data security measures. TikTok said on Wednesday it is "well underway in cutting off access to protected U.S. user data to any employee — wherever they are." The bill also would regulate exports of personal data by data brokers and firms like TikTok directly to restricted foreign governments. It would apply export control penalties to senior executives who knew or should have known that employees were directed to illegally export Americans’ personal data.
Persons: Ron Wyden, TikTok, Joe Biden, Warner, David Shepardson, Jonathan Oatis, Kirsten Donovan Organizations: Senate, U.S, Commerce Department, U.S ., Democratic, Thomson Locations: China, U.S, Montana
WASHINGTON — Two top Senate Democrats with a track record of scrutinizing business and antitrust activity have called for a Justice Department investigation into the merger agreement between the PGA Tour and Saudi-funded LIV Golf. The letter follows Connecticut Democratic Sen. Richard Blumenthal's inquiries to PGA Tour Commissioner Jay Monahan and LIV Golf CEO Greg Norman for details on the merger. The PGA Tour also insists the deal isn't a merger and that Saudi Arabia's Public Investment Fund will be a minority investor. The deal between the PGA Tour and LIV Golf would put an end to pending antitrust litigation between the two golf organizations. Family members of 9/11 victims have protested the Saudi golf league due to the terrorists' ties to the country.
Persons: Elizabeth Warren, Ron Wyden, LIV, Elizabeth Warren of, General Merrick Garland, Jonathan Kanter, Connecticut Democratic Sen, Richard Blumenthal's, Jay Monahan, Greg Norman, Monahan, LIV Golf, DOJ didn't, Yasir Al, Rumayyan, LIV Golf's, Osama Bin Laden, Prince Mohammed bin Salman, Jamal Khashoggi, Warren, Wyden, , Jessica Golden Organizations: U.S, Capitol, WASHINGTON —, Democrats, Justice Department, PGA Tour, Saudi, LIV Golf, Oregon, Connecticut Democratic, Saudi Arabia's Public Investment Fund, DOJ, CNBC, PGA, Public Investment Fund, Washington Post, Senate Banking Committee, Finance Locations: Sens, Washington , DC, Elizabeth Warren of Massachusetts, U.S, Saudi, Saudi Arabia
The trouble for the wealth fund and the tour is that Washington also has a bipartisan affection for lawmakers imitating sports executives, and browbeating actual ones, in public and in private. The tour and the wealth fund can take some comfort in history, which suggests a successful congressional effort to thwart the deal directly is unlikely. The Hill, though, could still seek to make the transaction painful beyond a feisty public hearing or two. Groups like the PGA Tour have combated legislative headaches surrounding their tax-exempt status in the past, with one effort to end the practice for sports leagues vanishing from a 2017 tax bill at the last moment. In the past 18 months, years after the N.F.L.
Persons: Blumenthal, Ron Wyden, , Organizations: Major League Baseball, Democrat, Senate Finance Committee Locations: Washington, Oregon
The budget deficit is estimated at a record 64.36 trillion Iraq dinars, more than double the last budget deficit in 2021, according to a budget document and lawmakers. The budget sets the exchange rate for oil revenues in U.S. dollars at 1,300 dinars per dollar. It will remain valid through 2025, though it is subject to amendment, including to the oil price it uses given its near-total dependence on oil revenue. To break even, Iraq required an oil price of $96 bpd, it said, while the price averaged $71.3 bpd in May. Baghdad previously had no say over Kurdistan's expenditure of oil revenues, with Kurdistan unilaterally exporting crude via Turkey despite Baghdad's objections.
Persons: Mohammed Nouri, Ahmed Tabaqchali, Ahmed Rasheed, Timour, Shri Navaratnam, Robert Birsel Organizations: Media, REUTERS, London School of Economics Middle East Center, Monetary Fund, Thomson Locations: Baghdad, Iraq, REUTERS BAGHDAD, Kurdistan, Iraqi, Turkey, Erbil, Iraq's, Kurdish, Ankara
Senator Richard Blumenthal on Monday asked the PGA Tour and LIV Golf for communications and records related to their planned merger. Blumenthal, a Democrat who chairs the Senate Permanent Subcommittee on Investigations (PSI), demanded details on how PGA Tour came to its agreement with LIV Golf and how any newly formed entity will be structured and operated, including how the PGA Tour intends to preserve its tax-exempt status. The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit, which had been involved in a bitter fight that split the sport, announced an agreement last week to merge and form one unified commercial entity. "PGA Tour’s agreement with (Saudi Arabian Public Investment Fund) regarding LIV Golf raises concerns about the Saudi government’s role in influencing this effort and the risks posed by a foreign government entity assuming control over a cherished American institution," Blumenthal wrote. Treasury Secretary Janet Yellen told CNBC last week that it was not immediately obvious that the PGA merger with LIV was a matter of national security.
Persons: Richard Blumenthal, LIV, Blumenthal, LIV Golf, Janet Yellen, Ron Wyden, David Shepardson, Rami Ayyub, Doina, Bill Berkrot Organizations: Monday, PGA, Investigations, Saudi Arabian Public Investment Fund, Saudi, Foreign Investment, Treasury, CNBC, Senate Finance, Thomson Locations: Saudi, American, U.S
He will replace Patrick Njoroge, who is retiring after serving two terms as the central bank governor since 2015. In a voice vote, lawmakers adopted the report of the National Assembly's finance committee, which urged the house to back his appointment after vetting his suitability for the post. His predecessor, Njoroge, has maintained stable prices for most of his eight years at the helm. But the World Bank expects growth to edge up to 5.0% in 2023, underpinned by a recovery in agriculture. Reporting by Duncan Miriri; Writing by Alexander Winning; Editing by David EvansOur Standards: The Thomson Reuters Trust Principles.
Persons: Thugge, William Ruto's, Kamau, Ruto, Patrick Njoroge, Duncan Miriri, Alexander Winning, David Evans Organizations: Njoroge, National, Johns Hopkins University, International Monetary Fund, Kenyan, Treasury, Bank, Thomson Locations: Ruto, U.S
The Democratic-led Judiciary Committee held a hearing on the subject in May. Crow, a major Republican donor, last month, rejected the panel's request for a meeting. Separately, Bopp declined to provide another Democratic-led Senate panel, the Finance Committee, any personal financial information about Crow, it said. In a statement, the panel accused Crow of "stonewalling" and "doubling down on bogus legal theories." The news outlet ProPublica has detailed the ties between Thomas and Crow.
Persons: Harlan Crow's, Clarence Thomas, Thomas, Crow, Crow's, Michael Bopp, Dick Durbin, Sheldon Whitehouse, Bopp, Ron Wyden, Neil Gorsuch, Susan Heavey, Kanishka Singh, Will Dunham Organizations: U.S, Supreme, Republican, Democratic, Finance Committee, Finance, Politico, Thomson Locations: Texas, Colorado
Sen. Tom Carper (D-DE) speaks during a news conference after the first Democratic luncheon meeting since COVID-19 restrictions went into effect on Capitol Hill in Washington, April 13, 2021. Sen. Tom Carper, D-Del., announced Monday that he will not seek re-election next year after more than 20 years in the Senate. During his time in the Senate, Carper served as the chair of the Senate Committee on Environment and Public Works and as a senior member of the Senate Finance Committee. Delaware hasn't had a Republican hold statewide office since 2018, when long-time GOP auditor Tom Wagner declined to seek re-election. Dianne Feinstein of California and Debbie Stabenow of Michigan have announced their plans to not to seek re-election next year.
JERUSALEM, May 18 (Reuters) - Israel's municipalities on Thursday ended a three-day strike and said they would instead turn to the courts to try to block a government plan to reallocate their tax income. Many of the biggest and wealthiest cities in Israel went on strike on Monday, shutting schools for a day and suspending services such as trash collection, over the Finance Ministry's plan. The Federation of Local Authorities said it would now go to court to block the creation of a nationwide property fund. "Local governments ... demand the state present a real plan to solve the housing crisis to bring down housing prices" with incentives to expand housing starts. Finance Minister Bezalel Smotrich said on Monday that he would not give in and that the property tax fund would be passed.
Black taxpayers more likely to face audits, IRS confirms
  + stars: | 2023-05-16 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
The IRS on Monday said that Black taxpayers are significantly more likely to face an IRS audit, confirming recent findings. IRS Commissioner Daniel Werfel said the agency is weighing changes to address the disparity. A study released in January by economists at Stanford University, the University of Michigan, the U.S. Department of the Treasury and the University of Chicago found the IRS audits Black taxpayers about three to five times more than other Americans. Specifically, he vowed to examine algorithms for audits of filers claiming the earned income tax credit, or EITC, a tax break to low- to moderate-income workers. Werfel added: "I will stay laser-focused on this to ensure that we identify and implement changes prior to next tax filing season."
The acknowledgment came after the publication of research this year showing that Black taxpayers were disproportionately audited, prompting calls from members of Congress for a review into the methodology and algorithms that help determine who is selected. “While there is a need for further research, our initial findings support the conclusion that Black taxpayers may be audited at higher rates than would be expected given their share of the population,” Daniel Werfel, the I.R.S. commissioner, wrote in a letter to Senator Ron Wyden of Oregon, the Democratic chairman of the Senate Finance Committee. Mr. Werfel said the I.R.S. could consider basing audits on “broader tax issues” rather than focusing on people who might be improperly claiming earned-income tax credits.
A general view of fans in front of the Washington Commanders logo during the first half of the game between the Washington Commanders and the Philadelphia Eagles at FedExField on September 25, 2022 in Landover, Maryland. The NFL's Washington Commanders entered into a deal to be sold to a consortium led by private-equity financier and professional sports team owner Josh Harris, the sides announced Friday. "League staff and the finance committee will review details of the proposed Washington transaction," the NFL said. The deal comes months after team owner Dan Snyder hired investment bankers to explore a sale, CNBC previously reported. Snyder wasn't being forced to sell the team despite mounting pressure among other owners to have him removed as owner.
Minting a $1 trillion platinum coin or using the 14th amendment could solve the crisis while sidestepping Congress. The 14th amendment, on the other hand, contains a clause that could declare the debt ceiling unconstitutional and get rid of it forever. 'That's beyond my paygrade and my mental capacity'Insider asked some Democratic senators what they thought of minting a coin or using the 14th amendment to get around the debt ceiling crisis. Sen. Ron Wyden, top lawmaker on the Senate Finance Committee, said that when it comes to the 14th amendment, "I'm not there yet. Yellen also said at a new conference in Japan on Wednesday that "it's legally questionable whether or not that's a viable strategy," referring to the 14th amendment.
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 .
Democrats on the Senate Judiciary Committee sent a letter to Harlan Crow on Monday. The letter asks Crow to list any gifts he's given to a Supreme Court justice or their family worth more than $415. The letter follows reporting from ProPublica documenting the many vacations Crow's paid for with Justice Clarence Thomas. The Judiciary Committee sent its letter to Crow a week after it held a hearing on ethics reform for the Supreme Court, which Chief Justice John Roberts declined to attend. "They've done a pretty good job in the last week or two of unfairly slamming me and more importantly than that, unfairly slamming Justice Thomas."
Washington CNN —Democrats on the Senate Judiciary Committee have asked Harlan Crow, the GOP megadonor and friend of Clarence Thomas whose gifts to the Supreme Court justice have prompted fresh criticism about the ethical standards of the nation’s highest court, for more information about the expenditures. The letters also state that the recent revelations come amid a lack of American confidence in the Supreme Court, pointing to recent polling. Thomas had not financially disclosed the hospitality from or the deal with the Texas billionaire. Democrats have vowed to keep investigating the ethics of the nation’s highest court, and Chief Justice John Roberts declined an invitation to testify at a hearing on Supreme Court ethics. Speaking to CNN’s Jake Tapper on Sunday, Senate Judiciary Chairman Dick Durbin said “everything is on the table” as the panel scrutinizes new ethics concerns around Thomas.
They also asked Crow to provide a full list of real estate transactions, transportation, lodging and admission to private clubs he might have provided. All 11 Democrats, including Sen. Diane Feinstein, D-Calif., who has been absent from the Senate due to health issues, signed the letter. Republicans on the committee and the Supreme Court did not immediately respond to NBC News' requests for comment. Wyden asked for answers by May 8, the same day Durbin issued his latest letter to Crow. The Supreme Court in March tightened some of its rules on what judges and justices need to include in annual financial disclosure statements.
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