GOP senators place holds over tax credit guidance
'Today, I placed a hold on three Department of the Treasury nominees,' he said in the record, specifically naming Trump's picks for the department's general counsel, assistant secretary and undersecretary.
The Iowa Republican added that while the 'big, beautiful, bill' recently passed by Congress allowed for wind and solar companies to continue to get tax credits if they begin construction of their projects in the next year, the Treasury Department 'is expected to issue rules and regulations implementing the agreed upon phase-out of the wind and solar credits by August 18, 2025.'
'Until I can be certain that such rules and regulations adhere to the law and congressional intent, I intend to continue to object to the consideration of these Treasury nominees,' Grassley said.
Sen. John Curtis (R-Utah) is also placing a hold on the same nominees — Brian Morrissey Jr., Francis Brooke and Jonathan McKernan — for the same reason, a source familiar told The Hill.
After legislation to terminate the tax credits was passed, Trump signed an executive order that directed the Treasury to take a strict approach to limit which projects are eligible while they're still active.
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Yahoo
15 minutes ago
- Yahoo
Countries push for last-minute deals as Thursday tariff deadline looms
An array of trade crosscurrents continued in Tuesday afternoon. There has been a push for last-minute deals, continued fuzziness on previously announced trade commitments—and an indication from President Trump that a deal to delay tariffs on China is "close." It all comes as global importers brace for the Thursday morning deadline. That's when President Trump promises to implement a central plank of his trade agenda: a tiered approach to "reciprocal" tariffs from 10% to 50%. Meanwhile, talks continued on varied fronts. For example, the Swiss president announced she would fly to Washington to try to win last-minute concessions. She added Tuesday that "the aim is to present a more attractive offer to the United States" to avert a 39% tariff on goods from her nation. Meanwhile India faces a divergent situation, with Trump telling CNBC Tuesday morning "we settled on 25% [tariffs], but I think I am going to raise that very substantially over the next 24 hours." India has slammed Trump's threats as unjustified and has seen its chances of a deal dwindle with top aides for Indian Prime Minister Narendra Modi also reportedly traveling this week — but not to the US but instead to Moscow. It's part of flurry of last minute moves and a message from Trump that he's full-speed ahead with no plans to delay a tariff increase starting Thursday. For rolling updates on tariffs, check out our liveblog > He even teased during the CNBC appearance that he probably won't run for president again, but that he'd like to, in part because, in his view, "people love the tariffs." (Trump is, of course, barred by the Constitution from running for a third term, but he's often floated the idea.) Switzerland and India are two countries currently on the outside looking in but even nations that recently struck a trade deal continued to try and prepare for the tariff piece to take effect. Japan's top trade negotiator is also reportedly due in Washington, D.C. this week for talks to ensure that a plan proceeds to cut auto tariffs to 15%. Likewise, talks with the EU continue as negotiators there are reportedly still pushing for exemptions, such as on wine and spirits. Trump also weighed in Tuesday morning on talks with China. Markets are closely watching for any signs of an agreement to delay a tariff snapback scheduled for Aug. 12, with Trump saying, "We're getting very close to a deal." Trump also suggested it was likely that "at some point in the not too distant future" he would meet with President Xi Jinping. The president also added that new sector-specific tariffs on semiconductors and pharmaceuticals are likely and that at least those pharmaceutical tariffs could be announced "within the next week or so." Read more: What Trump's tariffs mean for the economy and your wallet New details for some nations — and a focus on India and Switzerland There is also some new clarity on some technical details around how the new tariff landscape will likely work beginning at 12:01 a.m. ET on Thursday. US customs officials this week offered additional technical guidance in a new document about how it'll handle some tariff exemptions. The news there may give some select importers a short-term breather. But with a full tally, according to Bloomberg Economics, the average US tariff rate is now expected to rise to 15.2% if duties go forward as planned. That's a jump from current rates of 13.3% and another jump from the 2.3% duties seen in 2024 before Trump took office. That overall landscape set to be in effect Thursday will cover nearly every country on the globe. It also comes after Trump and his team set "bespoke" rates largely based on the trade deficit, with many of America's top trading partners seeing a key new standard of 15% tariff, while others will see higher rates. Read more: 5 ways to tariff-proof your finances Countries from the European Union to South Korea to Japan also struck deals at that 15% rate, but open questions remain. Other Asian countries have struck deals in the 19%-20% range. Trade Representative Jamieson Greer recently said on CBS that the published rates included many agreements, "some of these deals are announced, some are not," with other nations simply being dictated tariffs based on the level of the trade deficit. Switzerland is one nation for which the US has dictated tariffs. Its delegation will be in Washington on Tuesday, set to push for lower rates. But on Tuesday morning, Trump suggested that it would be an uphill climb and that a recent call with the country didn't go well because "they essentially pay no tariffs," even as talks are clearly set to continue there. As for India, any immediate offramp appears unlikely because of that nation's connections with Russia and Russian oil. A note Tuesday from Capital Economics suggested that India could, in theory, offer concessions to diversify its energy sources, "but we doubt that India would make a wholehearted effort to wean itself off Russian oil [as it could upset relations and] it would not play well to be seen caving to Trump's demands." At the same time, reports from Bloomberg and the Times of India revealed that two top aides to Indian Prime Minister Narendra Modi are traveling not to the US but to Russia in the coming days and weeks— even amid Trump's ever-escalating threats. Trump on Tuesday morning suggested talks are on ice for now and will be complicated when they resume, adding that "the sticking point with India is that tariffs are too high." This story has been updated with additional developments. Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices Sign in to access your portfolio
Newsweek
15 minutes ago
- Newsweek
GOP Senator Changed Child Rape Law After Relative Accused of Sex With Minor
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. An 18-year-old in Utah who was accused of having sex with a 13-year-old avoided jail after the laws governing sexual offenses were changed while his relative was president of the state Senate. Senate President J. Stuart Adams confided to legislators that the law relating to his relative's case should be reviewed in a large bill that was passed in 2024, according to a report from The Salt Lake Tribune. Adams told The Salt Lake Tribune: "Some have suggested this change was made to benefit the case I was made aware of involving the high school senior. That is simply not true. "While the sponsor of [the bill] was aware of the case, I did not request the legislation and did not intervene or give input on the drafting of the bill." Newsweek reached out to Adams via email for further comment. Why It Matters The fact that the 18-year-old was related to someone with significant political power in Utah has raised questions over whether or not the legislation was adopted in order to make the sentencing less strict. While the law did not apply retroactively and the 18-year-old was not charged with the new lower-level crime created by the bill, they nonetheless avoided further jail time and were not required to register as a sex offender after the bill was passed. What To Know SB213, a 49-page bill sponsored by Republican Senate Majority Leader Kirk Cullimore, passed into law in March 2024, changing sentencing rules over sex between teenagers. Prior to the bill passing, the 18-year-old could have faced a charge of child rape, a first-degree felony that would have required them to register as a sex offender, along with a prison sentence ranging anywhere from six years to life in jail. However, the bill allowed a clause that lets 17-year-olds receive a less serious third-degree charge of unlawful sexual activity to be extended to 18-year-olds, provided they were still in high school. The new bill did not apply to cases brought before it became law, but the 18-year-old was not given any jail time beyond the initial week they had spent, after they pleaded guilty to reduced charges. Prosecutor and defense attorney for the case, Cara Tangaro, said in court hearings that the legislation had been crucial to the improved plea deal, telling Judge Rita Cornish at sentencing, "You saw the legislative change. We all agree that's not retroactive, but the government did change their offer based on that." The bill's sponsor, Cullimore, told the Tribune that Adams had requested that the charges against the relative be looked into for the legislation. Adams denied using his political power to benefit a relative. The Utah State Capitol in Salt Lake City. The Utah State Capitol in Salt Lake City. Getty Images What People Are Saying The mother of the 13-year-old told The Salt Lake Tribune: "I feel like a law is the law, regardless of who you are, but that wasn't what was going on here. I feel like [the 18-year-old] just got special nobody was going to say anything about it." What Happens Next Utah will continue to use the new law for sex offenses going forward for all cases.
Boston Globe
17 minutes ago
- Boston Globe
Trump's politically motivated sanctions against Brazil strain relations among old allies
Advertisement The message was clear earlier, when Trump described Bolsonaro's prosecution by Brazil's Supreme Court as a 'witch hunt' — using the same phrase he has employed for the numerous investigations he has faced since his first term. Bolsonaro faces charges of orchestrating a coup attempt to stay in power after losing the 2022 election to President Luiz Inácio Lula da Silva. A conviction could come in the next few months. The U.S. has a long history of meddling with the affairs of Latin American governments, but Trump's latest moves are unprecedented, said Steven Levitsky, a political scientist at Harvard University. 'This is a personalistic government that is adopting policies according to Trump's whims,' Levitsky said. Bolsonaro's sons, he noted, have close connections to Trump's inner circle. The argument has been bolstered by parallels between Bolsonaro's prosecution and the attempted prosecution of Trump for trying to overturn his 2020 election loss, which ended when he won his second term last November. Advertisement 'He's been convinced Bolsonaro is a kindred spirit suffering a similar witch hunt,' Levitsky said. Brazil's institutions hold firm against political pressure After Bolsonaro's defeat in 2022, Trump and his supporters echoed his baseless election fraud claims, treating him as a conservative icon and hosting him at the Conservative Political Action Conference. Steve Bannon, the former Trump adviser, recently told Brazil's news website UOL that the U.S. would lift tariffs if Bolsonaro's prosecution were dropped. Meeting that demand, however, is impossible for several reasons. Brazilian officials have consistently emphasized that the judiciary is independent. The executive branch, which manages foreign relations, has no control over Supreme Court justices, who in turn have stated they won't yield to political pressure. On Monday, the court ordered that Bolsonaro be placed under house arrest for violating court orders by spreading messages on social media through his sons' accounts. Justice Alexandre de Moraes, who oversees the case against Bolsonaro, was sanctioned under the U.S. Magnitsky Act, which is supposed to target serious human rights offenders. De Moraes has argued that defendants were granted full due process and said he would ignore the sanctions and continue his work. 'The ask for Lula was undoable,' said Bruna Santos of the Inter-American Dialogue in Washington, D.C., about dropping the charges against Bolsonaro. 'In the long run, you are leaving a scar on the relationship between the two largest democracies in the hemisphere.' Magnitsky sanctions 'twist the law' Three key factors explain the souring of U.S.-Brazil ties in recent months, said Oliver Stuenkel, a senior fellow at the Carnegie Endowment for International Peace: growing alignment between the far-right in both countries; Brazil's refusal to cave to tariff threats; and the country's lack of lobbying in Washington. Advertisement Lawmaker Eduardo Bolsonaro, Jair Bolsonaro's third son, has been a central figure linking Brazil's far-right with Trump's MAGA movement. He took a leave from Brazil's Congress and moved to the U.S. in March, but he has long cultivated ties in Trump's orbit. Eduardo openly called for Magnitsky sanctions against de Moraes and publicly thanked Trump after the 50% tariffs were announced in early July. Democratic Massachusetts Rep. Jim McGovern, author of the Magnitsky Act, which allows the U.S. to sanction individual foreign officials who violate human rights, called the administration's actions 'horrible.' 'They make things up to protect someone who says nice things about Donald Trump,' McGovern told The Associated Press. Bolsonaro's son helps connect far right in US and Brazil Eduardo Bolsonaro's international campaign began immediately after his father's 2022 loss. Just days after the elections, he met with Trump at his Mar-a-Lago estate in Florida. As investigations against Bolsonaro and his allies deepened, the Brazilian far right adopted a narrative of judicial persecution and censorship, an echo of Trump and his allies who have claimed the U.S. justice system was weaponized against him. Brazil's Supreme Court and Electoral Court are among the world's strictest regulators of online discourse: they can order social media takedowns and arrests for spreading misinformation or other content it rules 'anti-democratic.' But until recently, few believed Eduardo's efforts to punish Brazil's justices would succeed. That began to change last year when billionaire Elon Musk clashed with de Moraes over censorship on X and threatened to defy court orders by pulling its legal representative from Brazil. In response, de Moraes suspended the social media platform from operating in the country for a month and threatened operations of another Musk company, Starlink. In the end, Musk blinked. Advertisement Fábio de Sá e Silva, a professor of international and Brazilian studies at the University of Oklahoma, said Eduardo's influence became evident in May 2024, when he and other right-wing allies secured a hearing before the U.S. House Foreign Affairs Committee. 'It revealed clear coordination between Bolsonaro supporters and sectors of the U.S. Republican Party,' he said. 'It's a strategy to pressure Brazilian democracy from the outside.' A last-minute tariff push yields some wins Brazil has a diplomatic tradition of maintaining a low-key presence in Washington, Stuenkel said. That vacuum created an opportunity for Eduardo Bolsonaro to promote a distorted narrative about Brazil among Republicans and those closest to Trump. 'Now Brazil is paying the price,' he said. After Trump announced sweeping tariffs in April, Brazil began negotiations. President Lula and Vice President Geraldo Alckmin — Brazil's lead trade negotiator — said they have held numerous meetings with U.S. trade officials since then. Lula and Trump have never spoken, and the Brazilian president has repeatedly said Washington ignored Brazil's efforts to negotiate ahead of the tariffs' implementation. Privately, diplomats say they felt the decisions were made inside the White House, within Trump's inner circle — a group they had no access to. A delegation of Brazilian senators traveled to Washington in the final week of July in a last-ditch effort to defuse tensions. The group, led by Senator Nelsinho Trad, met with business leaders with ties to Brazil and nine U.S. senators — only one of them Republican, Thom Tillis of North Carolina. Advertisement 'We found views on Brazil were ideologically charged,' Trad told The AP. 'But we made an effort to present economic arguments.' While the delegation was in Washington, Trump signed the order imposing the 50% tariff. But there was relief: not all Brazilian imports would be hit. Exemptions included civil aircraft and parts, aluminum, tin, wood pulp, energy products and fertilizers. Trad believes Brazil's outreach may have helped soften the final terms. 'I think the path has to remain one of dialogue and reason so we can make progress on other fronts,' he said. Associated Press writer Mauricio Savarese in Sao Paulo contributed to this report.
