Category: US Senate

Source: United States Senator Mike Braun (Indiana)

 WASHINGTON—Today, U.S. Senate Special Committee on Aging Ranking Member Mike Braun released a report entitled, “What’s Working for Older Workers,” which examines the challenges that older workers are facing and provides recommendations for Congress and the Administration to support older workers, protect their retirement security and strengthen their workforce participation.
 
“After spending 40 years running a business on Main Street, I understand the crucial role that older Americans represent in our economy. Too many older Americans are suffering in the current economy. My report details the initiatives I have taken in Congress to alleviate challenges for older workers by removing burdensome rules, protecting their retirement savings and implementing effective programs to connect older Americans to good paying jobs, as well as tackling issues like high inflation that forced some older Americans back to work.”—Sen. Mike Braun
 
Over the last two decades, the share of the workforce aged 55 or older almost doubled. By 2028, over a quarter of the workforce will be aged 55 or older. Inflation has been a factor in forcing retirees back to work. 43 percent of those considering returning to work are doing so because of inflation.
 
The report identifies that older Americans are increasingly turning to the gig economy to supplement their incomes and savings due to the flexibility it provides. Nearly 1 in 3 independent or “gig” workers are over age 55. 
 
In October 2022, the Department of Labor (DOL) proposed a rule that would eliminate a bulk of independent jobs. Braun has led the charge in the Senate to challenge this rule. 
 
In addition, the DOL has finalized a rule that allows fiduciaries to invest based on ESG factors which tend to produce a lower rate of return. Braun introduced a bipartisan and bicameral measure to eliminate this rule which Biden used his first veto on. Last week, Braun introduced a bill that would counter this rule. 
 
Read the full report here. 

Watch the exclusive interview here.
 
 
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Source: United States Senator Mike Braun (Indiana)

Thursday, May 18, 2023

WASHINGTON— Bipartisan legislation authored by U.S. Senators Mike Braun and Gary Peters to create an artificial intelligence (AI) training program for federal supervisors and management officials has advanced in the Senate. The training program would help improve the federal workforce’s understanding of AI applications, and ensure that leaders who oversee the use of these tools understand AI’s potential benefits and risks.
 
The bill was advanced by the Senate Homeland Security and Governmental Affairs Committee where Peters serves as Chair, and now moves to the full Senate for consideration.
 
“In the past couple of years, we have seen unprecedented development and adoption of AI across industries. We must ensure that government leaders are trained to keep up with the advancements in AI and recognize the benefits and risks of this tool.” — Sen. Braun
 
“Artificial intelligence has the potential to make the federal government more efficient, but only if government leadership is properly trained to ensure this technology benefits the American people. My bipartisan legislation will ensure supervisors and management officials have the resources to make informed decisions regarding AI technology and its use in the federal government.” — Sen. Peters
 
Use of artificial intelligence is widespread across government agencies, and the AI Leadership Training Act would provide guidance to federal leaders when making decisions regarding AI technology, and ensure the risks and rewards are properly weighed to best benefit agency missions and American communities. Organizations like the National Security Commission on Artificial Intelligence (NSCAI) and the National AI Advisory Committee (NAIAC) have recommended additional AI training for federal workforce to ensure the appropriate use of these tools.
 
This bipartisan legislation would require the Director of the Office of Personnel Management (OPM) to provide and regularly update an AI training program for federal government supervisors and management officials. The training aims to help federal leaders understand the capabilities, risks, and ethical implications associated with AI, so they can better determine whether an AI capability is appropriate to meet their mission requirements.
 
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Source: United States Senator Kevin Cramer (R-ND)

WASHINGTON – U.S. Senators Kevin Cramer (R-ND), Mark Warner (D-VA), and Todd Young (R-IN) introduced the Portable Benefits for Independent Workers Pilot Program Act. The legislation would enhance independent workers’ access to certain retirement plans and health insurance protections typically offered to full-time employees. It would also establish a $20 million grant fund within the U.S. Department of Labor (DOL) to incentivize states, localities, and nonprofits work with portable benefits models.

“Independent workers make up a growing percentage of our workforce, yet they are often not eligible for many benefits typically offered by employers. North Dakotans in non-traditional work arrangements deserve access to the same benefits as the rest of the working public,” said Senator Cramer. “These pilot programs encourage state and local governments to provide portable benefits and give independent contractors additional financial stability.”

“Each year more and more Americans engage in part-time, contract or other alternative work arrangements to support themselves and their families. But despite these shifts, our retirement and savings programs aren’t keeping up to help these workers,” said Senator Warner. “This program will encourage experimentation at the state and local levels to support the realities of a 21^st century workforce.”

“Job opportunities in the gig economy provide workers with utmost flexibility,” said Senator Young. “Supporting portable benefit options helps uncover creative solutions to addressing the needs of our rapidly changing workforce. I am pleased to reintroduce this bill to make it easier for Hoosiers find the job opportunity that best suits their family situation.”

Joining Senators Cramer, Warner, and Young are Senators Angus King (I-ME), Michael Bennet (D-CO), and John Hoeven (R-ND). 

Click here for bill text.

Background:

Independent contractors, part-time workers, temporary workers, and contingent workers have found it increasingly difficult and expensive to access benefits and protections traditionally provided to full-time employees.

The Portable Benefits for Independent Workers Pilot Program Act aims to address these challenges and better align federal policies with today’s evolving workforce by expanding accessibility for gig economy workers to receive number of work-related benefits and protections. These include retirement savings, workers compensation, life or disability insurance, sick leave, training and educational benefits, health care, and more.

The bill would also direct the Secretary of Labor to provide grants to support innovation and experimentation regarding portable benefits, with the goal of establishing scalable, efficient benefit models.

Source: United States Senator Kevin Cramer (R-ND)

***Click here to download video. Click here for audio.***

Supervisors didn’t do enough, and managers did the wrong thing.

WASHINGTON – U.S. Senator Kevin Cramer (R-ND) at a Banking Committee hearing questioned regulators about the supervisory shortfalls which contributed to recent bank failures. Witnesses included Michael Barr, Federal Reserve (Fed) Vice Chair for Supervision, Martin Gruenberg, Chair of the Federal Deposit Insurance Corporation (FDIC), and Michael Hsu, Acting Comptroller for the Office of the Comptroller of the Currency (OCC), among others. Excerpts and full video are below.

The Senator first compared the responsibilities of banking system supervisors with those of soccer referees, demonstrating the importance of enforcing existing rules and regulations.

“I was a soccer referee before I took up this other crazy job. If I didn’t pull out my yellow card at the first reckless act, that was a license for [players] to go crazy. But when I did put up my yellow card with the first reckless act, everybody on the pitch knew if somebody else did it or they did it again, it could be a red card. If I warned them gently, they often just kept playing rough. More rules and regulations without appropriate regulating will get us nowhere.”

He shifted gears to discuss how social media may have escalated public panic surrounding Silicon Valley Bank (SVB), and in turn, accelerated the March 2023 run.

“What if there hadn’t been a run on SVB? What if everything was the same, we know they made some sales that raised some concerns, legitimately. But what if there hadn’t been a social media pitch that caused this run? Would we even be here today? Is it possible that nothing would have ever happened had there not been this sort of panic, fear?” asked Senator Cramer.

“What we focus on as supervisors when we’re doing our jobs right are the vulnerabilities a firm faces and making sure the firm is addressing those vulnerabilities, and making sure we have resilience in the system with good rules on capital and liquidity. So, if there’s a shock nobody anticipates, they’re not hit in a way that causes contagion in the financial system,” responded Fed Vice Chair Barr.

He also asked about the sale of First Republic Bank to JP Morgan and the factors the FDIC and OCC consider when reviewing such transactions.

“There’s been a lot of talk about the sale of First Republic to JP Morgan – speaking of big getting bigger, the irony’s rich. Tell me, I know the bid price is the big thing, that’s easy go-to at an auction, but is there more to it? Should we have considered other factors in approving that sale when there were other bidders?” asked Senator Cramer.

“The statute under which the FDIC works in these matters is clear and it gives us one factor to consider, which is least cost. That was the only factor we are allowed to consider under the law in reviewing the pitch we’ve received for First Republic,” responded FDIC Chair Gruenberg.

“The factors we’re subjected to are laid out by the Bank Merger Act, and those statutory factors relate to competition, convenience, the needs of the community, financial stability, BSA, AML, managerial, financial resources, etc. We also have guidelines we’ve released that articulate the frameworks for reviewing those. In a failing bank case, especially where there’s a larger institution, the financial stability factor becomes quite important. It’s very important for us to ensure the actions we take ensure coordinated and timely government action, support a minimal cost to the DIF, and check the risk of contagion and uncertainty,” responded OCC Acting Comptroller Hsu.

Finally, in reference to the report the Fed published on SVB’s collapse, Senator Cramer called on federal regulators to improve their focus for more forceful responses: “It’d be better if regulators focused on the things they’re supposed to focus on. You’ve articulated your parameters very well; let’s stay in those parameter and focus.” 

Source: United States Senator Kevin Cramer (R-ND)

WASHINGTON—U.S. Senators Kevin Cramer (R-ND) and Senator Tom Cotton (R-AR), members of the Senate Armed Services Committee (SASC), introduced the No START Treaty Act, which officially declares Russia to be in material breach of the New START Treaty and proposes America withdraw from the agreement. The legislation also aims to strengthen the United States’ nuclear forces by placing limits on future arms control negotiations. 

“Russia has made it clear it will not play by the rules when it comes to their nuclear arsenal. It’s time to take a stand and stop tolerating its treaty violations,” said Senator Cramer. “Pulling the U.S. out of New START ensures we are not tying our hands while Russia cheats and China grows unconstrained. We need to modernize and grow our nuclear deterrent, and ensure any future negotiations with both Russia and China, are from a position of nuclear strength.”

“The New START Treaty handcuffed America while Vladimir Putin has taken advantage of the treaty’s flaws for years. President Biden should never have extended this treaty that has only made Russia and China stronger and America weaker. We should withdraw from the treaty and bolster our nuclear forces,” said Senator Cotton.

The No START Treaty Act would:

• Require an evaluation of current and planned U.S. nuclear forces capabilities to address deficiencies in the U.S. nuclear deterrent.
• Require any future arms control agreements with Russia to place numerical limitations on the size of U.S. and Russian arsenals.
• Limit all of Russia’s nuclear forces, including its non-strategic nuclear weapons, which would restrict the nuclear arsenal of China.
• Prohibit unilateral reductions and the bargaining away of U.S. missile defenses.
• Prohibit the use of funds to implement the New START Treaty or any future arms control agreement unless it meets the bill’s required provisions.

Joining Senators Cramer and Cotton are Senators James Risch (R-ID), Rick Scott (R-FL), and Ted Budd (R-NC).

Click here for bill text. 

Background:

The New START Treaty was established in 2010 to limit the number of strategic nuclear weapons the United States and Russia can deploy and ensures compliance between both countries through nuclear arsenal inspections and verification. However, the treaty fails to address the growing disparity of nuclear arsenals between the U.S., Russia, and China.

Currently, Russia’s estimated stockpile of over 2,000 non-strategic nuclear weapons far outweighs the United States’ inventory. Russia is developing new capabilities like a nuclear-powered cruise missile at a record pace while China’s every-growing nuclear forces are projected to match if not surpass the size of the U.S. deployed nuclear arsenal by 2035.

In January 2023, the State Department found Russia failed to comply with the New START Treaty by refusing to allow mandatory inspections and meet in a Bilateral Consultative Commission. In February 2023, Russia announced it would “suspend” its participation in the New START Treaty. The growth of Russia and China’s nuclear capabilities threatens our nation’s ability to maintain our national security strategy and nuclear deterrence capabilities. As a result, the U.S. needs to increase the size of its nuclear arsenal.

Source: United States Senator for Louisiana Bill Cassidy

WASHINGTON –U.S. Senators Bill Cassidy, M.D. (R-LA) and Sherrod Brown (D-OH) introduced the Red Tape Reduction Act, legislation that will increase the threshold on 1099-K tax forms when individuals and entrepreneurs sell goods online. The Biden administration and every elected Democrat inserted a provision to the tax code in the American Rescue Plan Act that requires third-party payment platforms to report businesses’ gross transaction volumes totaling more than $600 to the Internal Revenue Service (IRS). Prior to this provision, payment providers were only required to report information when a payee had over 200 commercial transactions per year that exceeded $20,000. As a result of the new provision, thousands of small businesses will have to fill out 1099-Ks to provide their personal information to the IRS.

“The cap the Biden administration implemented in their American Recession Plan is hurting everyone from small business owners to people just trying to pay their rent,” said Dr. Cassidy. “This bill lifts that cap and prevents the IRS from spying on American taxpayers.”

“Ohio small businesses are frustrated with the 1099-K reporting threshold. This red tape hits small businesses and other Ohioans selling products online, sucking time and resources from the smallest online sellers,” said Senator Brown. “By raising the threshold, we can prevent the IRS from interfering with minor transactions and cut down on excessive paperwork.”

The Red Tape Reduction Act will raise the threshold to $10,000 from $600, ensuring that fewer small businesses and casual sellers receive excessive paperwork for online sales.

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Source: United States Senator for Arkansas Tom Cotton

Source: United States Senator for Arkansas Tom Cotton

Source: United States Senator for Indiana Todd Young

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Source: United States Senator for South Carolina Lindsey Graham

WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina), Ranking Member of the Senate Judiciary Committee, led a letter signed by every Republican on the committee highlighting the partisan nature of committee Democrats’ campaign to destroy the reputation of conservative Supreme Court Justices. Chairman Dick Durbin (D-Illinois) led committee Democrats in sending several letters demanding information from Harlan Crow, a private citizen, related to travel and hospitality provided to Justice Clarence Thomas.

The Senate Judiciary Committee Republicans urged Chairman Durbin to refocus the committee’s efforts on issues actually impacting the country, including the worsening border crisis and the fentanyl epidemic.

“We write with grave concerns about your demands.  Consistent with its Article I powers and the Rules of the Senate, the Committee must have a legitimate legislative purpose for its inquiry into Mr. Crow’s affairs, and the scope of the inquiry must be reasonably related to its purpose.  There appears to be neither here,” wrote the senators.

They continued, “Your requests appear misaligned and political.  Further, they only target conservative members of the Supreme Court.  To start, your letters claim that you believe ‘private access’ to justices—seemingly when justices socialize with anyone not on the Court—‘creates an appearance of undue influence that undermines the public’s trust in the Court’s impartiality.’  But judges, justices, politicians, and other public figures engage with friends in private settings every day—just as anyone else.”

The senators noted that these efforts to attack Justice Clarence Thomas and to “promote the perception of judicial corruption” are not only because Democrats do not agree with his judicial philosophy, but also because they wish to restructure the Court so that it will bend to their political will. These character attacks come from the same playbook that led to unwarranted attacks on other conservative jurists, including Judge Robert Bork and Justice Brett Kavanaugh.

They concluded, “We urge you to withdraw your May 8th letters to Mr. Crow and his entities and to refocus the Judiciary Committee’s efforts on legitimate inquiries.  With the country confronting a fentanyl epidemic and a crisis on our border due to illegal immigration, there are many issues worthy of this Committee’s time and efforts.”

Full text of the letter is available HERE.

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