Republican lawmakers slow Trump Treasury picks over wind, solar creditsNew Foto - Republican lawmakers slow Trump Treasury picks over wind, solar credits

(Reuters) -Two Republican senators have put holds on three of U.S. President Donald Trump's Treasury Department nominees over a White House effort to make it harder for companies to claim tax credits for wind and solar energy projects, according to a government document and a source familiar with the matter. The senators, Chuck Grassley of Iowa and John Curtis of Utah, hail from states with large renewable energy industries and support federal tax credits that bring down the cost of wind farms and solar arrays. Grassley published his announcement in the Congressional Record on Friday. A source familiar with the situation confirmed Curtis' hold to Reuters on Monday. In his announcement, Grassley said he was putting a hold on the Treasury nominees - Brian Morrissey, who was nominated to serve as Treasury's general counsel, Francis Brooke, nominated to be assistant secretary, and Jonathan McKernan - until he was certain the tax credit rules adhered to the law. The senators had tried to negotiate a longer timeline for wind and solar tax credits ahead of the passage of the One Big Beautiful Bill Act, but ultimately joined Republicans in backing a final draft that phases out clean energy subsidies years earlier than planned as part of their budget megabill. The new law requires projects to begin construction within a year or enter service by the end of 2027 to qualify for the credits. Under longstanding Treasury Department rules, a project is considered to have begun construction after spending just 5% of project costs. But days after signing the legislation into law, Trump last month directed Treasury to limit that "safe harbor" provision unless a substantial portion of a facility has been built, reportedly a promise he made to conservative Republicans. The agency has until August 18 to write new rules. "What it means for a project to 'begin construction' has been well established by Treasury guidance for more than a decade. Moreover, Congress specifically references current Treasury guidance to set that term's meaning in law," Grassley wrote. "This is a case where both the law and congressional intent are clear." Under Senate rules, a single senator can hold up a nominee even if the other 99 want to move forward. (Reporting by Nichola Groom; Editing by Stephen Coates)

Republican lawmakers slow Trump Treasury picks over wind, solar credits

Republican lawmakers slow Trump Treasury picks over wind, solar credits (Reuters) -Two Republican senators have put holds on three of U.S. P...
Democrat who fled Texas says "we're willing to face whatever consequences"

Three Democratic state lawmakers whofled Texas to block an effortto redraw the state's congressional maps to favor Republicans told CBS News on Monday they're prepared to stay out of the state for at least the next two weeks — as GOP leadersthreaten consequences. Dozens of Texas House Democrats headed to Illinois and other blue states over the weekend, denying the chamber's GOP leaders a quorum on Monday. The move has at least temporarily derailed a special legislative session called by Gov. Greg Abbott to reshape the state's U.S. House district maps — after President Trump publicly encouraged Texas Republicans to create five more GOP-leaning House seats ahead of the 2026 midterms. One of the Democrats who left Texas for Illinois, state Rep. John Bucy III, told CBS News that lawmakers plan on staying out of the state until the end of the legislative session. Special sessions can last up to 30 days, and just over two weeks are left in the current session. But if the clock runs out without a vote on the new House maps, Abbott has the power to immediately call another legislative session, state Rep. Ann Johnson acknowledged. If that happens, Democrats will "assess our options," state Rep. James Talarico said. The map that was floated by Texas Republicans last weekcould, if approved, tiltas many as 30 of the state's 38 U.S. House districts toward Republicans, which currently hold 25 districts. The map redraws two Democratic seats in the Rio Grande Valley, combines two seats in the Austin area and rearranges districts in the Houston and Dallas areas. Texas Democrats say they "knew there would be consequences" The GOP-dominated state House voted Monday to compel the absent Democrats to return to Texas, including by issuing civil arrest warrants. Meanwhile, Abbottorderedthe Texas Department of Public Safety to "arrest and return" the Democratic members andinvestigate themfor "bribery" because they accepted donations to help pay for their time in other states. Abbott has also suggested there's a legal path to remove any absent Democrats from office. It's unclear whether those efforts to arrest lawmakers are enforceable outside of Texas. Rice University political science professor Mark Jonestold CBS Newsthat Republicans "can make idle threats, but as long as they are out of state, there's really nothing that they can do." "If you choose to continue down this road, you should know there will be consequences," Texas House Speaker Dustin Burrows, a Republican, said during a brief speech Monday afternoon, after the House was unable to establish a quorum. "The absconded Democrat House members were elected to meet and vote on legislation — not to prevent votes that may not go their way," Abbott said in an earlier statement. Talarico told CBS News that House Democrats "knew there would be consequences." "We are fighting for representative democracy, and whether or not that will continue, and so we're willing to face whatever consequences may come our way," he said. In addition to redistricting, Abbott called a special session last month to handle other high-profile legislative priorities, like approving disaster relief for the deadly Texas floods. Texas Republicans and Democrats have bothaccused each otherof holding disaster relief hostage. "Greg Abbott is prioritizing Donald Trump with this special session," Bucy told CBS News. "Instead of taking action to help the flood victims of Central Texas, he is prioritizing trying to steal five congressional seats from the people of Texas." Johnson rejected accusations by Republicans that Democratic lawmakers had abandoned their work, saying they were exercising "the fundamental protection by our founding fathers in the Texas Constitution that says the minority party has the opportunity to break quorum when you know that the majority has really gone off the rails." What do Texas Democrats want? This isn't the first time Democrats have fled Texas to deny Republicans a two-thirds quorum in the state House or Senate. In 2021, House Democrats left the state to block a vote on a restrictive voting law, but the walkoutcame to an endafter just over a month, and a version of the billended up passing. When asked how this week's walkout would be different, Talarico argued the 2021 effort was successful because some of the most controversial provisions of the voting law — like limits to Sunday voting — were ultimately taken out of the legislation. "This is an effective tool in our toolbox to fight for our constituents and make harmful legislation less dangerous. We're hopeful that's what will happen here," he said. Some of the Texas Democrats want blue states to threaten to retaliate by redrawing their congressional maps to add more Democratic districts. The governors of California and New York have entertained the idea of carrying out redistricting to eke out more blue seats, but those movescould be legally difficult, since California has put an independent commission in charge of redistricting and New York bans political gerrymandering. All three Texas House Democrats who spoke with CBS News — Talarico, Bucy and Johnson — told CBS News they don't support gerrymandering in general. But Talarico said that "if one side is going to cheat, all bets are off, and maybe that kind of pressure will convince our Republican colleagues and the president to walk back from the brink." "Democrats and Republican politicians both gerrymander and it's wrong in both instances," Talarico said, but "this is particularly egregious." "This is kind of like the bully that takes your lunch money every day. At some point, you got to stand up, otherwise you just end up broke and hungry," Johnson said. "We've told Republicans, 'enough — you've gone way too far.'" How safe is our Social Security safety net? Full Interview: 3 Democratic Texas lawmakers on fleeing state amid GOP redistricting push Number of butterflies decreasing across U.S.

Democrat who fled Texas says "we're willing to face whatever consequences"

Democrat who fled Texas says "we're willing to face whatever consequences" Three Democratic state lawmakers whofled Texas to b...
California could slash 5 GOP US House seats to counter Texas' move to pad Republican marginNew Foto - California could slash 5 GOP US House seats to counter Texas' move to pad Republican margin

LOS ANGELES (AP) — California Democrats are considering new political maps that could slash five Republican-held House seats in the liberal-leaning state while bolstering Democratic incumbents in other battleground districts. The move comes in direct response toefforts by Texas Republicansto redraw House districts in order to strengthen the GOP hold on the chamber in 2026. A draft plan that's circulating aims to boost the Democratic margin to 48 of California's 52 congressional seats, according to a source familiar with the plan who was not authorized to discuss it publicly. That's up from the 43 seats the party now holds. It would need approval from lawmakers and voters, who may be skeptical to give it after handing redistricting power to an independent commission years ago. In addition, the proposal would generously pad Democratic margins in districts for competitive seats anchored in Orange County, San Diego County and the Central Valley farm belt, giving Democrats a potential advantage asTexas Republicans try to swaythe tissue-thin balance of the House. According to the proposal, districts now held by Republican Reps. Ken Calvert, Darrell Issa, Kevin Kiley, David Valadao and Doug LaMalfa would see right-leaning voters shaved and Democratic voters boosted in a shift that would make it likely a left-leaning candidate would prevail in each race. In districts held by Democratic Reps. Dave Min, Mike Levin and Derek Tran, the party's edge would be boosted to strengthen their hold on the seats, the source said. Democratic members of California's congressional delegation were briefed on the new map on Monday, according to a person familiar with the meeting who requested anonymity to discuss private conversations. The proposal is being circulated at the same time thatDemocratic Gov. Gavin Newsomhas said he wants to advance partisan redistricting. He says he won't move ahead if Texas pauses its efforts. Newsom said he'd call a special election for the first week of November. Voters would weigh a new congressional map drawn by the Democratic-controlled Legislature. "California will not sit by idly and watch this democracy waste away," Newsom said Monday. — Associated Press writers Tran Nguyen in Sacramento and Joey Cappelletti in Washington contributed.

California could slash 5 GOP US House seats to counter Texas' move to pad Republican margin

California could slash 5 GOP US House seats to counter Texas' move to pad Republican margin LOS ANGELES (AP) — California Democrats are ...
Kremlin slams Trump tariff pressure on India over Russian oil as illegalNew Foto - Kremlin slams Trump tariff pressure on India over Russian oil as illegal

MOSCOW (Reuters) -Russia accused the United States on Tuesday of exerting illegal trade pressure on India after U.S. President Donald Trump threatened again to raise tariffs on India over its purchases of Russian oil. "We hear many statements that are in fact threats, attempts to force countries to cut trade relations with Russia. We do not consider such statements to be legal," Kremlin spokesman Dmitry Peskov told reporters. "We believe that sovereign countries should have and do have the right to choose their own trading partners, partners for trade and economic cooperation, and to choose for themselves the forms of trade and economic cooperation that are in the interests of a particular country." Trump has said that from Friday he will impose new sanctions on Russia as well as on countries that buy its energy exports, unless Moscow takes steps to end its 3-1/2 year conflict with Ukraine. Russian President Vladimir Putin has signalled no change in Russia's stance on the war, despite the looming deadline. New Delhi has called Trump's threats "unjustified" and vowed to protect its economic interests, deepening a trade rift between the two major economies. Two Indian government sources told Reuters on the weekend that India will keep purchasing oil from Russia despite Trump's threats. (Reporting by Dmitry Antonov; Writing by Lucy Papachristou; Editing by Mark Trevelyan)

Kremlin slams Trump tariff pressure on India over Russian oil as illegal

Kremlin slams Trump tariff pressure on India over Russian oil as illegal MOSCOW (Reuters) -Russia accused the United States on Tuesday of ex...
Futures edge up on growing Fed rate-cut bets; earnings in focusNew Foto - Futures edge up on growing Fed rate-cut bets; earnings in focus

(Reuters) -Wall Street futures edged higher on Tuesday, building on momentum from the previous session as expectations for the Federal Reserve's interest rate cuts grew, while investors assessed a new round of major corporate earnings. At 5:23 a.m. ET, Dow E-minis were up 46 points, or 0.1%, S&P 500 E-minis were up 7.75 points, or 0.12% and Nasdaq 100 E-minis were up 34.25 points, or 0.15%. Wall Street on Monday recorded its best session since May 27 and recouped losses from Friday's selloff as weaker-than-expected July jobs data and significant downward revisions to previous months' data intensified bets for a September interest rate cut. According to CME Group's Fedwatch tool, the odds for a September rate cut now stand at 88.2%, compared with 63.3% a week earlier. Market participants expect at least two quarter-point cuts by the end of the year. In another twist, President Donald Trump's decision to fire the head of the Bureau of Labor Statistics, responsible for past jobs data, stoked investors' fears about the integrity of economic data. Federal Reserve Governor Adriana Kugler's surprise resignation on Friday also opened avenues for Trump to shake up the Fed's leadership earlier than expected. The U.S. president has repeatedly criticized Fed Chair Jerome Powell for not cutting interest rates. "U.S. growth resilience has been relatively remarkable so far, even if the U.S. job market is raising doubts about what's coming next," said Amelie Derambure, senior multi-asset portfolio manager at Amundi. The final July reading of S&P Global's Purchasing Managers' Index is scheduled for release at 9:45 a.m. ET, followed by the Institute for Supply Management's non-manufacturing PMI at 10:00 a.m. ET. Investors also weighed the impact of U.S. tariffs on global economies and corporate earnings. Trump on Monday threatened to raise import tariffs on goods from India over its Russian oil purchases, while New Delhi called the attack "unjustified" and vowed to protect its economic interests. Markets were also still watching if Trump will decide to extend a trade truce with China that expires on August 12, or potentially let tariffs shoot back up to triple-digits. Earnings from major names on Tuesday include Advanced Micro Devices, Pfizer, Snap, Rivian, and Yum Brands. Among other movers, Palantir Technologies rose 5.4% in premarket trading after raising its annual revenue forecast for the second time, driven by strong demand for its AI-linked services. Online telehealth company Hims and Hers Health crashed 12.4% after missing Street estimates for second-quarter revenue, as subscribers for its compounded versions of weight-loss drugs declined. Inspire Medical Systems sank 25.3% after its second-quarter earnings failed to impress investors. (Reporting by Nikhil Sharma in Bengaluru; Editing by Maju Samuel)

Futures edge up on growing Fed rate-cut bets; earnings in focus

Futures edge up on growing Fed rate-cut bets; earnings in focus (Reuters) -Wall Street futures edged higher on Tuesday, building on momentum...

 

VS POLITICS © 2015 | Distributed By My Blogger Themes | Designed By Templateism.com