Tag Archives: Congress

In today’s world, the markets cannot be separated from politics. Case in point – the semiconductor subsidy bill currently before Congress. The bill, which holds the promise of some $52 billion worth of subsidies for the US semiconductor industry, was stalled in the Congressional processes for several months but last week got a boost from House Speaker Nancy Pelosi. In a move not sees as particularly coincidental, Pelosi’s husband just last month exercised a call option to purchase more… Source link

The world’s third-largest maker of semiconductor wafers, Taiwan’s GlobalWafers, announced plans to build a $5 billion factory in the U.S. on Monday—but only if the government helps pay for it. “This investment that they’re making is contingent upon Congress passing the CHIPS Act. The [GlobalWafers] CEO told me that herself, and they reiterated that today,” U.S. Commerce Secretary Gina Raimondo told CNBC, the same day GlobalWafers announced its development plan. Congress actually Source link

Washington Commanders owner Daniel Snyder is apparently ducking the U.S. Congress. Snyder refused to accept the service of a subpoena to appear before the House Oversight and Reform Committee, a spokesperson said in a statement on Monday. Snyder had previously declined to appear before the committee, which prompted it to issue a subpoena to try and compel him to do so. Snyder’s attorney declined to accept the subpoena on Friday on behalf of Snyder, according to The Athletic. “Mr. Snyder has… Source link

After months of debate, Congress is still slow-walking a bill that would spend over $50 billion on semiconductor manufacturing. Commerce Secretary Gina Raimondo has been frustrated by the slow pace for months and upped the stakes in a new interview by saying the economic damage could soon become permanent. She says companies that may want to be in the U.S. could shift manufacturing overseas in “months [because] they have to make decisions.” During the conversation Wednesday with Yahoo… Source link

Because college athletics is incapable of writing its own rules, investigating its own scandals or even controlling its own boosters (not to mention coaches) it has turned toward Washington to be saved from its inertia, inaction and incompetence. Yes, they are begging Congress for help; a desperate move for a desperate business model. Earlier this week, the commissioners of the SEC and Pac-12 lobbied politicians for federal legislation so they are no longer stuck with a kaleidoscope of state… Source link

When Commerce Secretary Gina Raimondo appeared on Yahoo Finance in January, she said movement was afoot on one of her signature issues: a bill to spend over $50 billion on semiconductor manufacturing. “There is urgency,” she said at the time, adding that “the fundamentals of this bill have broad bipartisan support.” But over 3 months later — and without much progress on the issue from Capitol Hill — her patience was running thin in a follow-up appearance. “I think they’re moving… Source link

The Washington Commanders may somehow be in even deeper trouble than they were before. In a letter to the Federal Trade Commission, which was obtained by the Washington Post, the House Committee on Oversight and Reform accused Commanders executives and team owner Daniel Snyder of hiding revenue from the NFL for over a decade by withholding security deposits that should have been refunded to season ticket-holders. “We are writing to share evidence of concerning business practices by the… Source link

After a prolonged back and forth, Congress passed a $1.5 trillion government spending bill last week but dropped from the final package $22.5 billion in pandemic relief that Democrats wanted to include. On Tuesday, the same day as President Joe Biden signed the 2,741-page bill into law, his aides warned that the omission could “have severe consequences as we will not be equipped to deal with a future surge.” The U.S. could soon run out of funding for COVID responses such as booster shots,… Source link

Apple, Google in Congress’ crosshairs for app store practices | Fortune … Source link

I was in Washington D.C. this past week and you could almost feel the strife in the brisk January air, with the endless squabbling over President Biden’s stalled Build Back Better plan being Exhibit A. And yet I did find instances of bipartisanship, featuring some strange bedfellows the likes of which I hadn’t seen since Representative Alexandria Ocasio-Cortez and Senator Ted Cruz briefly aligned on Twitter last year during the meme stock brouhaha — before AOC kicked Ted to the curb, 67… Source link