|
|
|
Biden and McCarthy reach a final deal and now must sell it to Congress
Topics in Legal News |
2023/05/29 10:31
|
With days to spare before a potential first-ever government default, President Joe Biden and House Speaker Kevin McCarthy reached final agreement Sunday on a deal to raise the nation’s debt ceiling and worked to ensure enough support in Congress to pass the measure in the coming week.
The Democratic president and Republican speaker spoke late in the day as negotiators rushed to draft and post the bill text for review, with compromises that neither the hard-right or left flank is likely to support. Instead, the leaders are working to gather backing from the political middle as Congress hurries toward votes before a June 5 deadline to avert a damaging federal default.
“Good news,” Biden declared Sunday evening at the White House.
“The agreement prevents the worst possible crisis, a default, for the first time in our nation’s history,” he said. “Takes the threat of a catastrophic default off the table.”
The president urged both parties in Congress to come together for swift passage. “The speaker and I made clear from the start that the only way forward was a bipartisan agreement,” he said.
The final product includes spending cuts but risks angering some lawmakers as they take a closer look at the concessions. Biden told reporters at the White House upon his return from Delaware that he was confident the plan will make it to his desk.
McCarthy, too, was confident in remarks at the Capitol: “At the end of the day, people can look together to be able to pass this.”
The days ahead will determine whether Washington is again able to narrowly avoid a default on U.S. debt, as it has done many times before, or whether the global economy enters a potential crisis.
In the United States, a default could cause financial markets to freeze up and spark an international financial crisis. Analysts say millions of jobs would vanish, borrowing and unemployment rates would jump, and a stock-market plunge could erase trillions of dollars in household wealth. It would all but shatter the $24 trillion market for Treasury debt.
Anxious retirees and others were already making contingency plans for missed checks, with the next Social Security payments due soon as the world watches American leadership at stake.
McCarthy and his negotiators portrayed the deal as delivering for Republicans though it fell well short of the sweeping spending cuts they sought. Top White House officials were briefing Democratic lawmakers and phoning some directly to try to shore up support.
One surprise was a provision important to influential Sen. Joe Manchin, D-W.Va., giving congressional backing for the controversial Mountain Valley Pipeline, a natural gas project, that is certain to raise questions. |
|
|
|
|
|
|
Democratic senators urge chief justice to probe Thomas trips
Topics in Legal News |
2023/04/11 09:35
|
Democrats on the Senate Judiciary Committee called on U.S. Supreme Court Chief Justice John Roberts on Monday to open an investigation into the undisclosed acceptance of luxury trips taken by Justice Clarence Thomas and his wife that were paid for by a Republican megadonor.
The letter said the committee plans to hold a hearing in coming days regarding the “need to restore confidence in the Supreme Court’s ethical standards.” And if the Supreme Court does not deal with the issue on its own, the committee will consider voting on legislation. Such a measure would also need support from the Republican-led House to become law.
“But you do not need to wait for Congress to act to undertake your own investigation into the reported conduct and to ensure that it cannot happen again,” the 11 Democratic senators wrote to Roberts. “We urge you to do so.”
The nonprofit investigative journalism organization ProPublica reported Thursday that Thomas, who has been a justice for more than 31 years, has for more than two decades accepted luxury trips from Republican donor Harlan Crow nearly every year.
Thomas, 74, and his wife, Virginia, have traveled on Crow’s yacht and private jet as well as stayed at his private resort in New York’s Adirondack Mountains, ProPublica reported. A 2019 trip to Indonesia the story detailed could have cost more than $500,000 had Thomas chartered the plane and yacht himself. |
|
|
|
|
|
|
Add value to your neglected assets - Life Insurance Policy Review
Topics in Legal News |
2023/04/09 20:57
|
During a life insurance policy review, you should look at your current coverage and beneficiaries and decide if any adjustments should be made. A Life Insurance Policy Review can be incorporated into initial planning or regular reviews when significant life changes have occurred. Factors that can impact changes to your life insurance needs can include marriage, divorce, health status changes, buying or selling a house, having children, and paying off debt.
It's important to review your life insurance policy annually or more frequently to ensure your policy is set up to adequately protect your loved ones after your death. When conducting an insurance Policy Review and presenting options that include replacing an existing insurance contract, it is important to discuss the risks and benefits.
You should conduct one after any major life events involving changes to your family, health, or finances. Significant life events that impact your family, health, or finances can change how much life insurance coverage you need and who you want as your beneficiaries. The amount of life insurance coverage you need, and who you want as your beneficiaries, depends in part on the people who count on your income to cover their expenses.
If you or a loved one experiences a significant improvement or decline in health, it could increase or decrease the amount of coverage you might need. You can review your life insurance by checking the hard copy of your policy, logging into your online account with the insurer, or talking directly with an agent. |
|
|
|
|
|
|
Mexican president lashes out at Supreme Court chief justice
Topics in Legal News |
2023/03/01 10:34
|
Mexico’s president lashed out Wednesday at the chief justice of the country’s Supreme Court, accusing her of promoting rulings favorable to criminal suspects.
President Andrés Manuel López Obrador’s comments opened a new debate over the separation of powers in Mexico, at a time when the Supreme Court is expected to rule on the president’s controversial cuts to election agency funding.
López Obrador has already attacked independent regulatory agencies, slammed the judiciary and cut funding for the National Electoral Institute.
The electoral dispute has led the president to feud with the press, demonstrators and the U.S. State Department. Opponents say the electoral cuts threaten Mexico’s democracy, and have appealed them to the Supreme Court.
López Obrador’s comments Wednesday opened a head-on conflict between the administration and Supreme Court Chief Justice Norma Piña, the first woman to hold that post.
The president was angered after a judge issued an injunction striking down an arrest warrant against Francisco Garcia Cabeza de Vaca, a former governor of the northern border state of Tamaulipas, who had been accused of corruption.
|
|
|
|
|
|
|
Supreme Court won’t upset Arkansas anti-Israel boycott law
Topics in Legal News |
2023/02/15 15:07
|
The Supreme Court on Tuesday refused to step into a legal fight over state laws that require contractors to pledge not to boycott Israel.
The justices rejected an appeal on behalf of an alternative weekly newspaper in Little Rock, Arkansas, that objected to a state law that reduces fees paid to contractors that refuse to sign the pledge.
The full federal appeals court in St. Louis upheld the law, overturning a three-judge panel’s finding that it violated constitutional free speech rights.
Similar measures in Arizona, Kansas and Texas were initially blocked by courts, prompting lawmakers to focus only on larger contracts. Arkansas’ law applies to contracts worth $1,000 or more.
Republican legislators in Arkansas who drafted the 2017 law have said it wasn’t prompted by a specific incident in the state. It followed similar restrictions enacted by other states in response to a movement promoting boycotts, divestment and sanctions of Israeli institutions and businesses over the country’s treatment of Palestinians. Israeli officials said the campaign masked a deeper goal of delegitimizing and even destroying their country.
|
|
|
|
|
|
Legal News RSS Feed
