Share to Twitter Share to Linkedin Topline TikTok CEO Shou Zi Chew faced intense questioning from lawmakers in his first hearing before Congress Tuesday, defending the popular social media app and insisting it protects U.S. user data from foreign interference, though House members from both sides of the aisle remained skeptical of TikTok's plans as the Chinese-owned platform fights against a possible U.S. ban or forced sale. Key Facts Rep. Cathy McMorris Rodgers (R-Wash.)—chair of the House Energy & Commerce Committee—asked about spying and surveillance on U.S. users by TikTok, which is owned by Beijing-based tech company ByteDance, but Chew said he "disagrees with the characterization" that the social media platform is spying on American users and said TikTok is “committed” to protecting U.S. data from foreign access. Chew claimed in his testimony that he has “seen no evidence” of Chinese government officials accessing U.S. user data, a claim … [Read more...] about TikTok CEO Spars With Congress Amid Growing Calls For Ban—As Lawmaker Calls Privacy Claims ‘Preposterous’
Congress
Issues and Options – Congress’ Research Arm Weighs in on Transferring Fighters to Ukraine
Share to Twitter Share to Linkedin Earlier this month, the Congressional Research Service issued a report on the possibilities and implications of handing over fighter aircraft to Ukraine. In providing Congress with options to consider, the CRS illustrates evolving institutional support for the idea. Whether it comes to pass and how remains in question. Released on March 17, the report summarized the debate about assisting Ukraine with additional Russian-designed fighter aircraft or providing Western fighters from the F-16 and F/A-18 to Saab’s Gripen and the Eurofighter Typhoon. On one side of the debate, CRS noted some analysts assert that combat aircraft have not yet played a decisive role in the conflict and are unlikely to do so based on current Ukrainian and Russian capabilities. On the other, the authors observed that proponents of transferring U.S. or NATO fighter jets to Ukraine claim that it may allow the Ukrainian military to address gaps in … [Read more...] about Issues and Options – Congress’ Research Arm Weighs in on Transferring Fighters to Ukraine
It’s Up To Congress To Ban TikTok. It Won’t Be Easy.
Share to Twitter Share to Linkedin What brings Democrats and Republicans together these days? The answer is attacking the CEO of a foreign-owned video app in a congressional hearing. Whether those attacks are to make a political point or a substantive difference is another question. TikTok CEO Shou Zi Chew testified before the House Energy and Commerce Committee in a hearing about the app's consumer privacy and data security practices, children's safety, and its relationship with the Chinese Communist Party. TikTok is owned by Beijing-based ByteDance. The approximately five-hour hearing did little to assuage the concerns of lawmakers. If anything, it heightened the concerns that the CCP could access personal data and influence over the content of American TikTok users. There has been no proof thus far to substantiate these concerns, but that isn't stopping Congress. "TikTok is a weapon by the Chinese Communist Party to spy on you, manipulate what … [Read more...] about It’s Up To Congress To Ban TikTok. It Won’t Be Easy.
Congress’ Research Arm Weighs In On Transferring Fighters To Ukraine
Share to Twitter Share to Linkedin Earlier this month, the Congressional Research Service issued a report on the possibilities and implications of handing over fighter aircraft to Ukraine. In providing Congress with options to consider, the CRS illustrates evolving institutional support for the idea. Whether it comes to pass and how remains in question. Released on March 17, the report summarized the debate about assisting Ukraine with additional Russian-designed fighter aircraft or providing Western fighters from the F-16 and F/A-18 to Saab’s Gripen and the Eurofighter Typhoon. On one side of the debate, CRS noted some analysts assert that combat aircraft have not yet played a decisive role in the conflict and are unlikely to do so based on current Ukrainian and Russian capabilities. On the other, the authors observed that proponents of transferring U.S. or NATO fighter jets to Ukraine claim that it may allow the Ukrainian military to address gaps in … [Read more...] about Congress’ Research Arm Weighs In On Transferring Fighters To Ukraine
Will Congress Repeal Roth IRA Benefits?
Share to Twitter Share to Linkedin Since the Roth IRA was created in 1997, a portion of the financial services community warned the Roth IRA was a trap. Congress would wait until Roth accounts held trillions of dollars, then repeal all or some of the tax benefits. From the start, I’ve been skeptical of the arguments that Roth IRAs are a trap and encouraged taxpayers to use them. I think there’s even less reason today to fear that there’s a Roth IRA trap. Life insurance and annuities have maintained their tax advantages for many decades despite academic and political arguments against them. That’s because insurance companies have good lobbying and many consumers now rely on the benefits of the products. Roth IRAs have the same advantages. Mutual funds and brokers are custodians for Roth accounts that hold a lot of money. These financial services companies have good lobbying organizations. Plus, a lot of consumers have Roths as part of their financial … [Read more...] about Will Congress Repeal Roth IRA Benefits?
U.S. farm, food groups urge Congress to pass authority for new trade deals
WASHINGTON -More than 50 U.S. agriculture and food groups on Thursday urged Congress to approve new legislation enabling the United States to negotiate more free-trade agreements, arguing that without them American agriculture was falling behind global competitors. The groups, representing a wide variety of U.S. agricultural exports from corn to dairy, meat, fresh produce and other products, said efforts by President Joe Biden’s administration to open new agriculture export markets were insufficient to overcome the growing network of free-trade deals forged by the European Union, China and other countries. “Regrettably, America is falling badly behind. Between 2010 and 2020, China and the European Union enjoyed over twice as much advantage from trade agreement tariff reductions as the U.S.,” the groups wrote. The groups said it has been over a decade since a new free trade deal was signed that opens new markets to U.S. farm and food products. They cited a recent Department of … [Read more...] about U.S. farm, food groups urge Congress to pass authority for new trade deals
Biden Asks Congress to Go After Failed Bank Executives Who Cashed Out
President Joe Biden called for Congress to make it easier for federal regulators to punish the executives of failed banks who cashed out before the collapse. Key Takeaways Biden wants Congress to increase FDIC’s enforcement powers over executives at failed banks The president is asking for expanded authority to “claw back” executive compensation and proceeds from stock sales He’s also asking for increased fines and expanded authority to ban failed executives from the banking industry Referencing reports that Silicon Valley Bank’s CEO sold more than $3 million in stock just before last week’s collapse, Biden is asking for legislation that will give the Federal Deposit Insurance Corp. (FDIC) more teeth to go after bankers who cash out before their firms fail, according to a White House release. The FDIC took over SVB on March 10 after a run on its deposits triggered by the announcement that it had lost $2 billion on a portfolio of mainly U.S. Treasuries. … [Read more...] about Biden Asks Congress to Go After Failed Bank Executives Who Cashed Out
To Catch Sex Predators, Congress Must Raise Big Tech’s Standards
Share to Twitter Share to Linkedin Parents are deeply anxious about their children being targets of exploitation from online child sexual abuse material and about the trafficking of fentanyl and other deadly substances on social media platforms. In this guest article Senator Marsha Blackburn (R–TN) outlines a crucial piece of legislation, which she’s introduced with bipartisan support, to address how to attack this scourge more effectively. This bill is particularly important because it wouldn’t have to be repeatedly updated as technology advances. It deserves swift passage. Among the committees Senator Blackburn serves on is the Commerce, Science & Transportation Committee, whose jurisdiction includes broadband and communications technology. Guest post by Senator Marsha Blackburn Over the past 20 years , Silicon Valley has been responsible for more than its fair share of culture-defining moments. From the rise of social … [Read more...] about To Catch Sex Predators, Congress Must Raise Big Tech’s Standards
Congress ratifies bicam report on bill amending AFP fixed-term law
MANILA, Philippines — Congress has ratified the bicameral conference committee report on the bill that seeks to amend the law on the fixed terms in the Armed Forces of the Philippines (AFP). The committee, composed of representatives from the Senate and the House, convened on Tuesday to come up with a version that reconciles differences between Senate Bill No. 1849 and House Bill No, 6517. Both bills are pushing for changes in the Act Strengthening Professionalism and Promoting the Continuity of Policies and Modernization Initiatives in the AFP (Republic Act No. 11709). Both houses separately ratified the bicameral conference committee report on Wednesday. The bill is now only awaiting the signature of President Ferdinand Marcos Jr. Sen. Jinggoy Estrada, chair of the Senate Committee on National Defense and Security, said they had agreed to use the Senate bill as a working draft. “After two days of floor debates in the Senate and more than four hours of grueling … [Read more...] about Congress ratifies bicam report on bill amending AFP fixed-term law
TikTok CEO Shou Zi Chew’s Prepared Comments Before Congress
Share to Twitter Share to Linkedin Topline Amid growing global concern over the social media platform, TikTok CEO Shou Zi Chew will testify before the House Energy and Commerce Committee Thursday, where U.S. lawmakers are expected to question Chew over safety concerns for minors and preventing U.S. user data from foreign access. Key Facts In Chew’s first appearance before Congress, he’s expected to discuss the company’s privacy and data security practices, as well as the company’s relationship with the Chinese government, which has come under increased scrutiny in recent months. Prepared Remarks Chair Rodgers, Ranking Member Pallone, and Members of the Committee: Thank you for the opportunity to appear before you today to talk about TikTok and our mission to inspire creativity and bring joy to more than 1 billion people worldwide. I look forward to discussing what makes TikTok so special to the diverse audiences it serves, as well as our … [Read more...] about TikTok CEO Shou Zi Chew’s Prepared Comments Before Congress