Washington, D.C. - October 6, 2017 (The Ponder News) -- U.S. Senator Tom Udall responded to the announcement by the Bureau of Land Management (BLM) that it is proposing to suspend or delay some requirements of the BLM’s 2016 natural gas waste prevention rule. Leaking, venting and flaring from natural gas operations wastes $100 million in taxpayer-owned natural gas resources a year, and NASA scientists say it has created a methane hotspot the size of Delaware over the Four Corners region. Udall led the successful fight in the Senate to protect the rule from Republicans’ attempt to roll it back using the Congressional Review Act (CRA).
“The BLM’s proposal to roll back the natural gas waste prevention rule would hurt taxpayers, school children, New Mexico’s economy, and our environment. This rule takes common-sense and cost-effective steps to limit the waste of taxpayer-owned natural gas, providing badly needed revenue to cash-strapped states like New Mexico for public education and other essential services. Prior to this rule, $100 million in taxpayer-owned natural gas was wasted each year from oil and gas wells operating on public lands in New Mexico. The new standard also creates jobs in a new and growing field of methane capture technology. And, the rule is helping to reduce dangerous pollution across the West and in New Mexico, where a methane cloud the size of Delaware is hanging over the Four Corners region. This rule is simply good policy – good for taxpayers, good for the economy, and good for the environment.
“The arguments against this rule from the current administration do not hold water. Since the rule came into effect in November 2016, employment data shows no evidence of any jobs lost, and the number of drilling rigs in operation has increased significantly. Everyone should agree that preventing the waste of taxpayer-owned resources should not only be a goal – it’s our obligation. That’s why senators from both parties came together to save this common-sense rule in May.
“The BLM’s process includes the opportunity for public comment, and the administration is required by law to take those into account and act in a deliberate and transparent way. I encourage every New Mexican and every American to speak out forcefully to defend this rule – and to defend their tax dollars, new jobs, and the air they breathe.”
The Unpopular Truth
Friday, October 6, 2017
Thune and Noem Lead Bipartisan, Bicameral Effort to Expand Sodsaver Initiative
U.S. Sens. John Thune (R-S.D.) and Amy Klobuchar (D-Minn.), members of the Senate Agriculture Committee, and U.S. Reps. Kristi Noem (R-S.D.) and Tim Walz (D-Minn.), a member of the House Agriculture Committee, today introduced companion versions of the bipartisan American Prairie Conservation Act (S. 1913 and H.R. 3939). This new sodsaver legislation, which, according the Congressional Budget Office, would save more than $50 million over ten years, would disincentivize the conversion of native sod to cropland by closing a crop insurance yield substitution loophole in all 50 states. Thune first authored sodsaver initiatives in the 2008 and 2014 farm bills for nationwide implementation.
Sodsaver, which has only been implemented in South Dakota, North Dakota, Minnesota, Iowa, Montana, and Nebraska, is a cost-saving initiative that disincentivizes, but does not prevent, farmers from converting native sod to cropland. Farmers who choose to break up native sod and convert it to cropland face a reduction in crop insurance premium subsidy assistance and a reduction in guaranteed yields of insured crops.
“By closing loopholes and applying these more effective sodsaver provisions nationwide, we can save taxpayers money, eliminate an unintended crop insurance incentive to break native sod, and protect America’s diminishing prairie grasslands that are so important to our grazing livestock producers,” said Thune. “Not only is this an example of a good-government solution, but the savings achieved by our bill could be used elsewhere in an already cash-strapped farm bill.”
“The sodsaver provision we implemented in six Midwestern states as part of the 2014 Farm Bill has successfully reduced the conversion of native sod, saved taxpayer dollars, and encouraged wildlife habitat,” said Klobuchar. “Our bipartisan legislation would extend this small, commonsense change to the crop insurance program and boost conservation efforts and savings nationwide.”
“As an avid hunter and a lifelong farmer, I truly appreciate that in South Dakota our hunting tradition is just as strong as our commitment to agriculture,” said Noem. “With the Protect Our Prairies language included, the 2014 Farm Bill has helped strike a healthier balance between production and conservation in the Prairie Pothole Region. With proven results and the prospect of additional savings for taxpayers, now is the time to expand the program nationwide.”
“I am proud to re-introduce this legislation that will conserve critical wildlife habitat while allowing farmers to manage their lands as they see fit,” said Walz. “By working together and promoting common sense conservation practices we can protect critical wildlife habitat, support our farmers, and support the hunting and fishing industry that is an integral part of our state’s economy.”
The American Prairie Conservation Act would:
Apply sodsaver’s prohibition to substitute crop insurance yields on native sod that is converted to cropland nationwide;
By requiring crop insurance premium subsidies and yield guarantees be reduced for a total of four cumulative years for any crop, close an existing loophole that allows certain noninsured crops to be planted four consecutive years with no reduction in crop insurance assistance for succeeding insured crops;
Make crop insurance assistance more reflective of production capabilities on all native sod that is converted to cropland nationwide;
Require producers who convert native sod to cropland to certify to the Farm Service Agency the number and location of acres of native sod that are converted in an existing automated crop certification system so the converted acres would be accurately tracked;
Apply to both crop insurance and the Noninsured Crop Disaster Assistance Program.
A loophole in existing sodsaver statute allows producers to plant non-insurable crops on newly converted native sod for four successive years. After the four successive-year window, producers could then plant insurable crops, such as corn, wheat, and soybeans, without any reduction in crop insurance assistance. The American Prairie Conservation Act requires four cumulative years of crop insurance assistance reductions before insurable crops planted on native sod that are converted to cropland are no longer subject to sodsaver provisions.
U.S. Sens. Mike Rounds (R-S.D.) and Michael Bennet (D-Colo.) are cosponsors of the American Prairie Conservation Act.
Sodsaver, which has only been implemented in South Dakota, North Dakota, Minnesota, Iowa, Montana, and Nebraska, is a cost-saving initiative that disincentivizes, but does not prevent, farmers from converting native sod to cropland. Farmers who choose to break up native sod and convert it to cropland face a reduction in crop insurance premium subsidy assistance and a reduction in guaranteed yields of insured crops.
“By closing loopholes and applying these more effective sodsaver provisions nationwide, we can save taxpayers money, eliminate an unintended crop insurance incentive to break native sod, and protect America’s diminishing prairie grasslands that are so important to our grazing livestock producers,” said Thune. “Not only is this an example of a good-government solution, but the savings achieved by our bill could be used elsewhere in an already cash-strapped farm bill.”
“The sodsaver provision we implemented in six Midwestern states as part of the 2014 Farm Bill has successfully reduced the conversion of native sod, saved taxpayer dollars, and encouraged wildlife habitat,” said Klobuchar. “Our bipartisan legislation would extend this small, commonsense change to the crop insurance program and boost conservation efforts and savings nationwide.”
“As an avid hunter and a lifelong farmer, I truly appreciate that in South Dakota our hunting tradition is just as strong as our commitment to agriculture,” said Noem. “With the Protect Our Prairies language included, the 2014 Farm Bill has helped strike a healthier balance between production and conservation in the Prairie Pothole Region. With proven results and the prospect of additional savings for taxpayers, now is the time to expand the program nationwide.”
“I am proud to re-introduce this legislation that will conserve critical wildlife habitat while allowing farmers to manage their lands as they see fit,” said Walz. “By working together and promoting common sense conservation practices we can protect critical wildlife habitat, support our farmers, and support the hunting and fishing industry that is an integral part of our state’s economy.”
The American Prairie Conservation Act would:
By requiring crop insurance premium subsidies and yield guarantees be reduced for a total of four cumulative years for any crop, close an existing loophole that allows certain noninsured crops to be planted four consecutive years with no reduction in crop insurance assistance for succeeding insured crops;
A loophole in existing sodsaver statute allows producers to plant non-insurable crops on newly converted native sod for four successive years. After the four successive-year window, producers could then plant insurable crops, such as corn, wheat, and soybeans, without any reduction in crop insurance assistance. The American Prairie Conservation Act requires four cumulative years of crop insurance assistance reductions before insurable crops planted on native sod that are converted to cropland are no longer subject to sodsaver provisions.
U.S. Sens. Mike Rounds (R-S.D.) and Michael Bennet (D-Colo.) are cosponsors of the American Prairie Conservation Act.
Senate Passes Shaheen, Hassan Bipartisan Resolution to Designate National Community Policing Week
Washington, D.C. - October 6, 2017 (The Ponder News) -- U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH) announced the passage of their Senate Resolution designating the first week of October as “National Community Policing Week.” The bipartisan resolution recognizes the sacrifices of police officers and expresses support for building trust and mutual respect in communities through sustained and meaningful engagement between law enforcement and civilians. It encourages the people of the United States, law enforcement agencies, and elected officials to identify ways in which communities may improve public safety, strengthen relationships and build trust. Yesterday, during an event at the Derry Police Department, Shaheen and Hassan presented the resolution text to New Hampshire law enforcement leaders.
“Law enforcement officers take tremendous risks while in the line of duty and this bipartisan resolution honors their important work in New Hampshire and across the country,” said Senator Shaheen. “This resolution recognizes that community policing efforts have been key in improving the relationship between law enforcement officers and the communities they serve. In New Hampshire, the efforts of our police departments to establish ties, build trust and collaborate with citizens and civic groups have played a leading role in addressing the opioid epidemic at its roots. We should always be thankful for the incredible sacrifices police officers make every day to keep our communities safe.”
“Our communities are stronger when police officers and citizens have good communications and partnerships. I am proud of New Hampshire’s longstanding tradition of community policing, and proud to co-sponsor a bipartisan resolution to recognize community policing,” Senator Hassan said. “I am deeply grateful for the commitment that these officers have shown to building the trust of the individuals they serve and protect, and I will continue to highlight the positive impact that community policing has on our people.”
As the lead Democrat on the Commerce, Justice & Science Appropriations Subcommittee, Shaheen helps secure funding for the Department of Justice’s Community Oriented Policing Services (COPS) programs.
Full text of the resolution is available here.
“Law enforcement officers take tremendous risks while in the line of duty and this bipartisan resolution honors their important work in New Hampshire and across the country,” said Senator Shaheen. “This resolution recognizes that community policing efforts have been key in improving the relationship between law enforcement officers and the communities they serve. In New Hampshire, the efforts of our police departments to establish ties, build trust and collaborate with citizens and civic groups have played a leading role in addressing the opioid epidemic at its roots. We should always be thankful for the incredible sacrifices police officers make every day to keep our communities safe.”
“Our communities are stronger when police officers and citizens have good communications and partnerships. I am proud of New Hampshire’s longstanding tradition of community policing, and proud to co-sponsor a bipartisan resolution to recognize community policing,” Senator Hassan said. “I am deeply grateful for the commitment that these officers have shown to building the trust of the individuals they serve and protect, and I will continue to highlight the positive impact that community policing has on our people.”
As the lead Democrat on the Commerce, Justice & Science Appropriations Subcommittee, Shaheen helps secure funding for the Department of Justice’s Community Oriented Policing Services (COPS) programs.
Full text of the resolution is available here.
Thursday, October 5, 2017
NAZI-ERA GUARD CURRENTLY LIVING IN QUEENS MUST BE DEPORTED IMMEDIATELY
U.S. Senators Charles E. Schumer and Kirsten Gillibrand urged the State Department to immediately deport a Nazi-era guard, Jakiw Palij, currently living in Queens. Mr. Palij was allowed to enter the United States because he concealed his prior service to the Nazi regime. After determining that he had lied in order to enter the country, Mr. Palij’s American citizenship was stripped and it was ordered that he be deported. However, since then, his deportation case has stalled because Germany, Poland and Ukraine refuse to accept him. Schumer and Gillibrand sent a letter, along with the entire New York bipartisan delegation, to Secretary Tillerson asking that he pay personal attention to this issue, prioritize it and take decisive action to complete this already-ordered deportation.
“Removing Mr. Palij from American soil will send a message not only to the citizens of New York, but to the entire world. It will make clear that the United States does not condone hatred and will not shelter those who have committed atrocities against innocents. For Holocaust survivors, Mr. Palij’s deportation will confirm that the heinous crimes committed against them during the Nazi era will never be forgotten,” the lawmakers said.
A copy of the lawmakers’ letter is below:
The Honorable Rex Wayne Tillerson
Secretary of State
2201 C St, NW
Washington, DC 20520
Dear Mr. Secretary,
Last month, many of us reached out to you regarding the stalled deportation of Jakiw Palij, a Nazi-era guard who was stripped of U.S. citizenship but is still currently residing in Queens, New York. A response from the Bureau of Legislative Affairs described the State Department’s efforts to urge the governments of Germany, Poland, and Ukraine to accept Mr. Palij and enable his deportation. As this has been going on for more than a decade, we write as bipartisan, bicameral representatives of the people of New York to ask that you personally step in to settle this long-standing injustice and ensure Mr. Palij is removed from the United States.
In 2004, after finding that Mr. Palij was allowed to enter the United States by concealing his prior service to the Nazi regime, he was stripped of his citizenship and it was ordered that he be deported. However, because no country has agreed to accept him, Mr. Palij has not yet been made to leave the U.S. despite these rulings. Mr. Palij must be deported immediately. It has been 13 years since Mr. Palij lost his right to remain here, and it has taken far too long for these court orders to be carried out.
Removing Mr. Palij from American soil will send a message not only to the citizens of New York, but to the entire world. It will make clear that the United States does not condone hatred and will not shelter those who have committed atrocities against innocents. For Holocaust survivors, Mr. Palij’s deportation will confirm that the heinous crimes committed against them during the Nazi era will never be forgotten. We ask that you act now, and show decisively that the United States stands firmly against anti-Semitism, bigotry, and hatred in all forms.
We appreciate your personal attention to this matter and we look forward to your swift action. This man, and the hatred he represents, should no longer be allowed to enjoy the freedoms that America provides – freedoms that Mr. Palij has been enjoying for decades under false pretenses.
Sincerely,
Senator Charles E. Schumer
“Removing Mr. Palij from American soil will send a message not only to the citizens of New York, but to the entire world. It will make clear that the United States does not condone hatred and will not shelter those who have committed atrocities against innocents. For Holocaust survivors, Mr. Palij’s deportation will confirm that the heinous crimes committed against them during the Nazi era will never be forgotten,” the lawmakers said.
A copy of the lawmakers’ letter is below:
The Honorable Rex Wayne Tillerson
Secretary of State
2201 C St, NW
Washington, DC 20520
Dear Mr. Secretary,
Last month, many of us reached out to you regarding the stalled deportation of Jakiw Palij, a Nazi-era guard who was stripped of U.S. citizenship but is still currently residing in Queens, New York. A response from the Bureau of Legislative Affairs described the State Department’s efforts to urge the governments of Germany, Poland, and Ukraine to accept Mr. Palij and enable his deportation. As this has been going on for more than a decade, we write as bipartisan, bicameral representatives of the people of New York to ask that you personally step in to settle this long-standing injustice and ensure Mr. Palij is removed from the United States.
In 2004, after finding that Mr. Palij was allowed to enter the United States by concealing his prior service to the Nazi regime, he was stripped of his citizenship and it was ordered that he be deported. However, because no country has agreed to accept him, Mr. Palij has not yet been made to leave the U.S. despite these rulings. Mr. Palij must be deported immediately. It has been 13 years since Mr. Palij lost his right to remain here, and it has taken far too long for these court orders to be carried out.
Removing Mr. Palij from American soil will send a message not only to the citizens of New York, but to the entire world. It will make clear that the United States does not condone hatred and will not shelter those who have committed atrocities against innocents. For Holocaust survivors, Mr. Palij’s deportation will confirm that the heinous crimes committed against them during the Nazi era will never be forgotten. We ask that you act now, and show decisively that the United States stands firmly against anti-Semitism, bigotry, and hatred in all forms.
We appreciate your personal attention to this matter and we look forward to your swift action. This man, and the hatred he represents, should no longer be allowed to enjoy the freedoms that America provides – freedoms that Mr. Palij has been enjoying for decades under false pretenses.
Sincerely,
Senator Charles E. Schumer
Sens. Schatz, Paul and Rep. Cohen Reintroduce Bipartisan Legislation to Help Expand Responsible Use of Police Body Cameras
Washington, D.C. - October 5, 2017 (The Ponder News) -- U.S. Senators Brian Schatz (D-Hawai‘i) and Rand Paul (R-Ky.) and U.S. Representative Steve Cohen (D-Tenn.) introduced the Police Creating Accountability by Making Effective Recording Available (Police CAMERA) Act of 2017. This legislation would create a pilot grant program to assist state and local law enforcement agencies develop safe and effective body-worn camera programs that also protect civilians’ privacy rights.
“We can’t restore trust between our communities and law enforcement without transparency and accountability. Body cameras alone won’t repair that relationship, but they have proven to be effective and can do a great deal to keep both police officers and community members safe and accountable,” said Senator Schatz
“Body cameras will benefit the brave men and women who serve in our police force and the people they protect,” said Senator Paul. “The use of body cameras helps officers collect and preserve evidence to solve crimes, while also decreasing the number of complaints against police. The Police CAMERA Act will help state and local police departments access this new tool, while ensuring that the privacy rights of every civilian are respected.”
“Justice is supposed to be blind, but it is not supposed to be blind to the facts. Police body cameras can help provide evidence and restore some much-needed trust between police and the communities they serve,” said Congressman Cohen. “The cameras could show the officer’s actions for what they were, proving both lawful and unlawful activity. The vast majority of police are well meaning, dedicated public servants, and we depend upon them to keep us safe from criminals. But the fact remains some officers go beyond the law in a callous disregard for due process. Their actions damage the public trust that is essential for good police to be able to serve and protect our communities. Police body cameras, alone, will not solve this problem, but they are an important step in the right direction. I would like to thank Senators Schatz and Paul for their leadership on this issue and for partnering with me on this legislation.”
The Police CAMERA Act of 2017 would establish a pilot grant program using existing funding to assist state, local, and tribal law enforcement agencies with the purchasing or leasing of body-worn cameras. It would also authorize an impact-study after two years. The study would assess the impact body-worn cameras have on reducing the use of excessive force by police, its effects on officer safety and public safety, and procedures to protect the privacy of individuals who are recorded.
“The resulting benefits of the body-worn cameras after almost two years of usage have greatly exceeded my expectations,” said Darryl D. Perry, Chief of Police of the Kauai Police Department. “Not only have our officers embraced this technology wholeheartedly, but our community has commended KPD for being open and transparent.”
Original cosponsors of the bill include U.S. Senators Kirsten Gillibrand (D-N.Y.) and Jeff Merkley (D-Ore.).
“We can’t restore trust between our communities and law enforcement without transparency and accountability. Body cameras alone won’t repair that relationship, but they have proven to be effective and can do a great deal to keep both police officers and community members safe and accountable,” said Senator Schatz
“Body cameras will benefit the brave men and women who serve in our police force and the people they protect,” said Senator Paul. “The use of body cameras helps officers collect and preserve evidence to solve crimes, while also decreasing the number of complaints against police. The Police CAMERA Act will help state and local police departments access this new tool, while ensuring that the privacy rights of every civilian are respected.”
“Justice is supposed to be blind, but it is not supposed to be blind to the facts. Police body cameras can help provide evidence and restore some much-needed trust between police and the communities they serve,” said Congressman Cohen. “The cameras could show the officer’s actions for what they were, proving both lawful and unlawful activity. The vast majority of police are well meaning, dedicated public servants, and we depend upon them to keep us safe from criminals. But the fact remains some officers go beyond the law in a callous disregard for due process. Their actions damage the public trust that is essential for good police to be able to serve and protect our communities. Police body cameras, alone, will not solve this problem, but they are an important step in the right direction. I would like to thank Senators Schatz and Paul for their leadership on this issue and for partnering with me on this legislation.”
The Police CAMERA Act of 2017 would establish a pilot grant program using existing funding to assist state, local, and tribal law enforcement agencies with the purchasing or leasing of body-worn cameras. It would also authorize an impact-study after two years. The study would assess the impact body-worn cameras have on reducing the use of excessive force by police, its effects on officer safety and public safety, and procedures to protect the privacy of individuals who are recorded.
“The resulting benefits of the body-worn cameras after almost two years of usage have greatly exceeded my expectations,” said Darryl D. Perry, Chief of Police of the Kauai Police Department. “Not only have our officers embraced this technology wholeheartedly, but our community has commended KPD for being open and transparent.”
Original cosponsors of the bill include U.S. Senators Kirsten Gillibrand (D-N.Y.) and Jeff Merkley (D-Ore.).
Russia Stole NSA Classified Information
Washington, D.C. - October 5, 2017 (The Ponder News) -- U.S. Senator Ben Sasse, a member of the Senate Armed Services Committee, issued the following statement regarding reports that Russia stole highly classified information from the National Security Agency regarding American offensive and defensive cybersecurity measures.
“It’s a lot harder to beat your opponent when they’re reading your playbook, and it’s even worse when someone on your team gives it to them. If these reports are true, Russia has pulled that off. The men and women of the U.S. Intelligence Community are patriots; but, the NSA needs to get its head out of the sand and solve its contractor problem. Russia is a clear adversary in cyberspace and we can’t afford these self-inflicted injuries.”
“It’s a lot harder to beat your opponent when they’re reading your playbook, and it’s even worse when someone on your team gives it to them. If these reports are true, Russia has pulled that off. The men and women of the U.S. Intelligence Community are patriots; but, the NSA needs to get its head out of the sand and solve its contractor problem. Russia is a clear adversary in cyberspace and we can’t afford these self-inflicted injuries.”
Rubio, Nelson Introduce Legislation to Extend Caribbean Trade Program
Washington, D.C. - October 5, 2017 (The Ponder News) -- U.S. Senators Marco Rubio (R-FL) and Bill Nelson (D-FL) have introduced the Caribbean Basin Economy Recovery Act, legislation that would strengthen U.S. interests and economic ties with Caribbean nations such as Haiti, Jamaica, Barbados, Belize, Curacao, Trinidad and Tobago, Guyana and St. Lucia.
“Extending these targeted trade preferences helps boost key American exports and solidifies fragile economies, like Haiti’s, in a crucial region for U.S. security,” said Rubio. “This bill will help reaffirm the U.S. commitment to developing deeper economic relationships with our regional allies, and supporting stable and democratic political institutions in the Caribbean.”
“These trade programs are a lifeline for some of our closest allies, which also happen to be some of the poorest countries in the Caribbean.” said Nelson. “Extending this trade program not only helps provide stability in the region, it also helps the Florida businesses that rely on international trade.”
The bill extends the Caribbean Basin Trade Partnership Act (CBTPA), which was established in 2000 to allow certain Caribbean countries to export goods made with U.S. yarns, fabrics and threads into the U.S. duty-free.
Under current law, CBPTA’s preferential trade treatment for these Caribbean countries is set to expire on Sept. 30, 2020. This legislation would extend the program through Sept. 30, 2030.
To be eligible for preferential trade treatment under CBTPA, participant countries are required to uphold strict labor standards and help further other various U.S. interests in the region, including countering narcotics trafficking and ending government corruption.
U.S. Representatives Carlos Curbelo (R-FL) and Terri Sewell (D-AL) introduced the companion bill in the House.
“Extending these targeted trade preferences helps boost key American exports and solidifies fragile economies, like Haiti’s, in a crucial region for U.S. security,” said Rubio. “This bill will help reaffirm the U.S. commitment to developing deeper economic relationships with our regional allies, and supporting stable and democratic political institutions in the Caribbean.”
“These trade programs are a lifeline for some of our closest allies, which also happen to be some of the poorest countries in the Caribbean.” said Nelson. “Extending this trade program not only helps provide stability in the region, it also helps the Florida businesses that rely on international trade.”
The bill extends the Caribbean Basin Trade Partnership Act (CBTPA), which was established in 2000 to allow certain Caribbean countries to export goods made with U.S. yarns, fabrics and threads into the U.S. duty-free.
Under current law, CBPTA’s preferential trade treatment for these Caribbean countries is set to expire on Sept. 30, 2020. This legislation would extend the program through Sept. 30, 2030.
To be eligible for preferential trade treatment under CBTPA, participant countries are required to uphold strict labor standards and help further other various U.S. interests in the region, including countering narcotics trafficking and ending government corruption.
U.S. Representatives Carlos Curbelo (R-FL) and Terri Sewell (D-AL) introduced the companion bill in the House.
Rounds Introduces FSA Loan Guarantee Enhancement Act
Washington, D.C. - October 5, 2017 (The Ponder News) -- U.S. Sen. Mike Rounds (R-S.D.) today introduced legislation to enhance the U.S. Department of Agriculture’s (USDA) farm loan programs. The Farm Service Agency (FSA) Loan Guarantee Enhancement Act would assist lenders in supporting producers during times of economic downturn within the ag sector.
“The FSA Loan Guarantee program provides financial assistance to farmers and ranchers who want to expand and improve their operations,” said Rounds. “Increasing both the individual cap for these loans and the total amount of money available for lending will allow a greater number of producers to utilize the program. Farming and ranching has become increasingly costly. The FSA Loan Guarantee Enhancement Act would more accurately reflect inflation and the increasing costs of agriculture production today, and make sure lenders have the flexibility to allow farmers and ranchers to weather times of economic downturn.”
Specifically, Rounds’ legislation would:
raise USDA guaranteed ownership and operating loan guarantee from $1.4 million to $3 million,
increase authorized private-sector loan offerings for guaranteed operating and ownership loans from $3 billion to $8 billion and raises the authorization for direct loans up to $3 billion, to match current funding levels.
provide spending assurance, rather than have these programs depend on annual appropriations.
Since it was established in 1979, the authorization amounts and funding for FSA loans have never been increased. The FSA Loan Guarantee Enhancement Act would increase and update the authorization of resources available for these loans for the first time in nearly 40 years. It is supported by the Independent Community Bankers Association (ICBA), SD ICBA, the American Bankers Association and the Farm Credit Council.
“The FSA Loan Guarantee program provides financial assistance to farmers and ranchers who want to expand and improve their operations,” said Rounds. “Increasing both the individual cap for these loans and the total amount of money available for lending will allow a greater number of producers to utilize the program. Farming and ranching has become increasingly costly. The FSA Loan Guarantee Enhancement Act would more accurately reflect inflation and the increasing costs of agriculture production today, and make sure lenders have the flexibility to allow farmers and ranchers to weather times of economic downturn.”
Specifically, Rounds’ legislation would:
Since it was established in 1979, the authorization amounts and funding for FSA loans have never been increased. The FSA Loan Guarantee Enhancement Act would increase and update the authorization of resources available for these loans for the first time in nearly 40 years. It is supported by the Independent Community Bankers Association (ICBA), SD ICBA, the American Bankers Association and the Farm Credit Council.
Reed Introduces Legislation to Hold Corporate Executives Accountable for Fraudulent Actions
Washington, D.C. - October 5, 2017 (The Ponder News) -- In an effort to prevent fraudulent and negligent behavior at large financial institutions and hold senior executives accountable, U.S. Senator Jack Reed has introduced the Corporate Management Accountability Act, which asks publicly traded companies to disclose policies on whether senior executives or shareholders bear the costs of paying the company’s fines and penalties.
Reed is introducing the legislation in the wake of several notable instances of negligent behavior by financial institutions - including Wells Fargo’s exploitation of its customers by opening unauthorized accounts and Equifax’s endangering millions of consumers by compromising critical personal information - that continue to undermine public confidence in the financial marketplace.
“Senior executives, many of whom are eager to take credit for a company’s good news, must also take more responsibility for the bad news, especially if it is true that the buck stops with them,” said Senator Reed, a senior member of the Senate Banking Committee. “For example, the Financial Crisis Inquiry Commission concluded ‘the financial crisis reached cataclysmic proportions with the collapse of Lehman Brothers,’ and yet, according to the Congressional Research Service, not a single senior executive officer at Lehman Brothers at the federal level was charged, went to jail, or personally paid a federal fine or penalty for the damage caused at Lehman Brothers that rippled through our economy in 2008. Companies must do a better job of aligning executive incentives so that they are motivated to put their shareholders, and not themselves, first.”
According to Professor Peter J. Henning, who writes for the White Collar Watch column for the New York Times: “A problem in holding individuals accountable for misconduct in an organization is the disconnect between the actual decisions and those charged with overseeing the company, so that executives and corporate boards usually plead ignorance about an issue until it is too late.”
The Corporate Management Accountability Act is one attempt at helping to solve this problem by asking publicly traded companies to disclose whether they expect senior executives or shareholders to pay the cost of corporate fines or penalties.
In the wake of the Wells Fargo scandal, Senator Reed questioned former Wells Fargo CEO John Stumpf during a Banking Committee hearing and pushed for answers as to why the bank opened up millions of fake bank accounts for customers. In August, after it was revealed that as many as 570,000 Wells Fargo customers may have been charged premiums for unwanted auto insurance they did not need, he joined his fellow committee members (Ranking Member) Sherrod Brown, Elizabeth Warren, and others in leading the call for a public hearing to review consumer rights violations by Wells Fargo.
In September, after Equifax revealed that unauthorized parties had obtained sensitive information such as Social Security numbers, addresses, and driver’s license numbers for as many as 143 million people, Senator Reed led a bipartisan group of 37 senators asking the Securities & Exchange Commission (SEC), the Department of Justice (DOJ), and the Federal Trade Commission (FTC) to investigate the sale of nearly $2 million in Equifax securities held by high-level Equifax executives shortly after the company learned of the massive cybersecurity breach. According to the New York Times, Equifax “increased its estimate on the number of Americans whose personal information was potentially exposed to 145.5 million, some 2.5 million more than it had previously disclosed.”
Reed is introducing the legislation in the wake of several notable instances of negligent behavior by financial institutions - including Wells Fargo’s exploitation of its customers by opening unauthorized accounts and Equifax’s endangering millions of consumers by compromising critical personal information - that continue to undermine public confidence in the financial marketplace.
“Senior executives, many of whom are eager to take credit for a company’s good news, must also take more responsibility for the bad news, especially if it is true that the buck stops with them,” said Senator Reed, a senior member of the Senate Banking Committee. “For example, the Financial Crisis Inquiry Commission concluded ‘the financial crisis reached cataclysmic proportions with the collapse of Lehman Brothers,’ and yet, according to the Congressional Research Service, not a single senior executive officer at Lehman Brothers at the federal level was charged, went to jail, or personally paid a federal fine or penalty for the damage caused at Lehman Brothers that rippled through our economy in 2008. Companies must do a better job of aligning executive incentives so that they are motivated to put their shareholders, and not themselves, first.”
According to Professor Peter J. Henning, who writes for the White Collar Watch column for the New York Times: “A problem in holding individuals accountable for misconduct in an organization is the disconnect between the actual decisions and those charged with overseeing the company, so that executives and corporate boards usually plead ignorance about an issue until it is too late.”
The Corporate Management Accountability Act is one attempt at helping to solve this problem by asking publicly traded companies to disclose whether they expect senior executives or shareholders to pay the cost of corporate fines or penalties.
In the wake of the Wells Fargo scandal, Senator Reed questioned former Wells Fargo CEO John Stumpf during a Banking Committee hearing and pushed for answers as to why the bank opened up millions of fake bank accounts for customers. In August, after it was revealed that as many as 570,000 Wells Fargo customers may have been charged premiums for unwanted auto insurance they did not need, he joined his fellow committee members (Ranking Member) Sherrod Brown, Elizabeth Warren, and others in leading the call for a public hearing to review consumer rights violations by Wells Fargo.
In September, after Equifax revealed that unauthorized parties had obtained sensitive information such as Social Security numbers, addresses, and driver’s license numbers for as many as 143 million people, Senator Reed led a bipartisan group of 37 senators asking the Securities & Exchange Commission (SEC), the Department of Justice (DOJ), and the Federal Trade Commission (FTC) to investigate the sale of nearly $2 million in Equifax securities held by high-level Equifax executives shortly after the company learned of the massive cybersecurity breach. According to the New York Times, Equifax “increased its estimate on the number of Americans whose personal information was potentially exposed to 145.5 million, some 2.5 million more than it had previously disclosed.”
Nelson sponsors bill to ban sale of ‘bump stocks’
Washington, D.C. - October 5, 2017 (The Ponder News) -- U.S. Sen. Bill Nelson (D-FL) has sponsored legislation to ban the sale of so-called “bump stocks” that can be used to increase the firing rate of a semi-automatic weapon, essentially converting it into a fully-automatic assault weapon.
While current law bans the sale, manufacture and transfer of most automatic weapons, the legislation Nelson filed today with Sen. Dianne Feinstein (D-CA) and others would close a current loophole in the law that allows semi-automatic weapons to be easily modified to fire at the same rate as automatic weapons.
“I’m a hunter and have owned guns my whole life,” Nelson said, “But these automatic weapons are not for hunting, they are for killing. And this commonsense bill would, at the very least, make it harder for someone to convert a semi-automatic rifle into what is essentially a fully-automatic machine gun.”
The legislation would ban the sale, transfer, importation, manufacture or possession of bump stocks, trigger cranks and similar accessories that accelerate a semi-automatic rifle’s rate of fire. While a typical semi-automatic rifle can fire at a rate of between 45 and 60 rounds per minute, a fully-automatic weapon can fire at a rate of 400 to 800 rounds per minute.
The bill makes clear that its intent is to target only those accessories that increase a semi-automatic rifle’s rate of fire. Legitimate accessories used by hunters would be exempt. The bill also contains exceptions for lawful possession of these devices by law enforcement and the government.
While current law bans the sale, manufacture and transfer of most automatic weapons, the legislation Nelson filed today with Sen. Dianne Feinstein (D-CA) and others would close a current loophole in the law that allows semi-automatic weapons to be easily modified to fire at the same rate as automatic weapons.
“I’m a hunter and have owned guns my whole life,” Nelson said, “But these automatic weapons are not for hunting, they are for killing. And this commonsense bill would, at the very least, make it harder for someone to convert a semi-automatic rifle into what is essentially a fully-automatic machine gun.”
The legislation would ban the sale, transfer, importation, manufacture or possession of bump stocks, trigger cranks and similar accessories that accelerate a semi-automatic rifle’s rate of fire. While a typical semi-automatic rifle can fire at a rate of between 45 and 60 rounds per minute, a fully-automatic weapon can fire at a rate of 400 to 800 rounds per minute.
The bill makes clear that its intent is to target only those accessories that increase a semi-automatic rifle’s rate of fire. Legitimate accessories used by hunters would be exempt. The bill also contains exceptions for lawful possession of these devices by law enforcement and the government.
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