"Leaks are a problem": Congress feuds over Trump limits on sharing intel
Senate Minority Leader Chuck Schumer (D-N.Y.) wants to know what President Trump is "hiding" after the White House decided to limit the classified intel it shares with Congress, as Axios scooped earlier today.
But House Speaker Mike Johnson (R-La.) told Axios "there'll be a price to pay" after "classified documents were not only leaked, they were offered for view by Democrats."
Why it matters: Democrats see the Trump decision — made after an alleged leak of intelligence earlier this week — as a significant escalation in what they say is the White House's attempt to stonewall Congress about the Iran conflict.
But the White House is "declaring a war on leakers," a source told Axios' Marc Caputo.
"Almost as soon as we put the information on [CAPNET, the system used to share intel with Congress], it leaks," an administration source said.
🤬 Down the line, high-ranking Democrats vented to Axios about Trump's plans:
"It must be bad news," Senate Minority Whip Dick Durbin told Axios. "They were embarrassed by the leak because it suggested that they did not obliterate the Iran nuclear program as promised."
House Intel ranking member Jim Himes (D-Conn.) said the leak is "unacceptable and should be fully investigated," but that it's "also unacceptable for the Administration to use unsubstantiated speculation" to "justify cutting off Congress."
Sen. Mark Warner (D-Va.), the top Democrat on Senate Intel, told Axios he wanted more information before issuing a full statement, but offered: "It would be extraordinarily disturbing."
The other side: "Leaks are a problem ... I was an FBI agent and I'm on Intel now — briefers are oftentimes afraid to honestly testify because they don't trust Congress' ability to keep quiet and respect the rules," Rep. Brian Fitzpatrick (R-Pa.) told Axios.
"I am furious with the repeated, blatant disregard for the very simple, proper handling of classified information," House Intel chair Rick Crawford (R-Ark.) told Axios.
I will continue to work with the Administration to ensure information to keep Congress fully and currently informed is shared via the appropriate Committees with appropriate oversight responsibilities," he said.
Johnson reiterated his dismay."There was a very serious breach of rules and protocols here. It's really sad when the administration cannot trust members of Congress, in the other party."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
23 minutes ago
- The Hill
Colombia's president signs a labor overhaul into law after 2 failed attempts
BOGOTA, Colombia (AP) — Colombian President Gustavo Petro signed into law on Wednesday a controversial labor overhaul with the potential to profoundly shift the balance of power from employers to workers, a key victory for the left-wing leader even as Congress compelled him to scale back his more radical ambitions. The enactment of the law marks a milestone for a president who has struggled to deliver on his promises to reduce inequality in one of the region's most unequal nations. But it's faced opposition from business leaders and Colombian government bonds have suffered as markets worry about the fiscal and economic effects. The law increases overtime pay for salaried workers and limits the use of short-term contract workers, while requiring companies to provide medical coverage and social security for gig workers like food delivery drivers. It also promises student interns proper contracts and benefits like vacation time and severance pay. Many of Petro's efforts to vastly expand social programs have stalled in Congress, with lawmakers shooting down this labor law twice. Lawmakers let the legislation squeak by last week after Petro's moved to call a public referendum. Petro signed the legislation at the historic home of 19th-century war hero Simón Bolívar, who led South America's fight against imperial Spain. He posted on social media platform X: 'I sign the labor reform into law before Bolívar and the working people.' 'We must elect a government that will uphold this law and enforce it,' Petro said, alluding to the 2026 presidential elections. The reform was cheered by trade unions and Petro's political allies Wednesday. But his push to strengthen worker protections has proved controversial, as the expensive benefits are expected to hike up costs for business owners. Petro's government has promised to push through a new bill to help small businesses, though the details remain unclear. Opposition lawmakers have painted a nightmare scenario of mass layoffs that will push more workers into Colombia's already vast informal economy. Many say that the mandated reductions in working hours, increases in overtime pay for Sunday and holiday shifts will especially squeeze small and medium-sized businesses. Already, his government's increased spending and reduced tax income have challenged fiscal stability. Critics also say that the changes won't help informal workers without contracts, who represent over half of Colombia's total labor force, according to the latest figures. The legislation guarantees health and pension benefits for only some gig workers, such as app-based delivery workers. Then there's the question of compliance. 'I want to tell those employers who say they won't implement the labor reform that they're not intelligent,' Petro said on Wednesday. Even as he hailed the law, it fell short of Petro's ambitions. He was forced to compromise on some key provisions to push it through a hostile Congress. Provisions stripped from the final version included extended paternity leave, paid leave for women with debilitating menstrual pain and some collective bargaining rights for unions. The signing of the law comes at a tumultuous time for the third largest nation in Latin America, with a wave of bombing attacks shaking the northeast and an assassination attempt on conservative presidential hopeful and senator Miguel Uribe stunning the country. Uribe remains in intensive care.
Yahoo
30 minutes ago
- Yahoo
US House Passes Accredited Investor Bill
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. A bill changing the accredited investor definition has cleared one congressional hurdle, paving the way for expanded investor access into the private markets. On Monday, the House of Representatives passed the 'Fair Investment Opportunities for Professional Experts Act,' sponsored by Financial Services Committee Chairman French Hill (R-Ark.). The bill passed in an overwhelming 397-12 vote. Hill originally introduced the bill in 2023 and 2024, during prior sessions of Congress when Republicans did not hold both houses (or the White House). During a FINRA conference this spring, Hill said there was a 'bipartisan consensus for broadening who is an accredited investor' and what opportunities should be available to non-institutional clients. Unlike retail investors, accredited investors can access private markets, including hedge funds and private equity funds. Institutional investors are allowed in the space, but currently, retail investors must hit wealth thresholds to qualify (at least $200,000 in annual income or more than $1 million in net worth). Hill's bill hopes to change that by expanding the accredited investor definition in the 1933 Securities Act to include individuals with 'certain licenses, education or job experience' beyond wealth and income thresholds. While threshold supporters claim it protects middle-class investors from risky private markets, its critics argue the rule means retail investors have missed out on a drastic expansion of private markets. Hill's bill was one of two launched in the GOP-controlled House of Representatives. U.S. Rep. Mike Lawler (R-N.Y.) co-sponsored legislation directing the SEC to create a test (administered by FINRA) that retail investors could take to qualify as accredited investors. That bill cleared the Financial Services Committee and is on the congressional calendar (though this doesn't mean a vote on it is assured). Banrion Capital Management CEO Shana Orzyk Sissel didn't expect much immediate impact if the bill passes the Senate and is signed into law by President Donald Trump, as the more the accredited investor definition is expanded, 'the less it means anything.' 'The definition of accredited investor keeps moving, and many asset managers and advisors are confused about exactly who qualifies, so that will be another learning curve as well if this passes,' she said. Sissel expected that many asset managers would stick with non-registered products due to the cost of creating new funds specifically for accredited investors who couldn't meet the minimum requirements placed on those products (even if the wealth threshold changes for the definition). 'Some advisors could create feeder funds for their accredited investor clients that then feed into alts products, but that can come with significant expense,' she said. In the 2010 Dodd-Frank Act, Congress asked the SEC to examine the threshold's applicability consistently (and whether the annual income and net worth thresholds established in 1982 still make sense today). The commission voted to expand the definition in 2020 to allow individuals to qualify if they had certain professional designations or credentials (and also qualified SEC- and state-registered advisors). However, the monetary thresholds remained unchanged, although new SEC Chair Paul Atkins has previously emphasized the importance of expanding investor access to private markets. Sissel stressed that even if the bill passes, advisors should tread carefully, as their fiduciary duties still apply, and understand how to build portfolios, including alts, that make sense for clients' risk tolerance. 'Many alts aren't complicated, but depending on their structures, liquidity constraints and other risks need to be communicated appropriately so investors have a clear set of expectations,' she said. 'There are some (asset) managers with very good marketing teams, but have bad products out there, so sifting through all the noise is important.'
Associated Press
41 minutes ago
- Associated Press
Colombia's president signs a labor overhaul into law after 2 failed attempts
Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] BOGOTA, Colombia (AP) — Colombian President Gustavo Petro signed into law on Wednesday a controversial labor overhaul with the potential to profoundly shift the balance of power from employers to workers, a key victory for the left-wing leader even as Congress compelled him to scale back his more radical ambitions. The enactment of the law marks a milestone for a president who has struggled to deliver on his promises to reduce inequality in one of the region's most unequal nations. But it's faced opposition from business leaders and Colombian government bonds have suffered as markets worry about the fiscal and economic effects. The law increases overtime pay for salaried workers and limits the use of short-term contract workers, while requiring companies to provide medical coverage and social security for gig workers like food delivery drivers. It also promises student interns proper contracts and benefits like vacation time and severance pay. Many of Petro's efforts to vastly expand social programs have stalled in Congress , with lawmakers shooting down this labor law twice . Lawmakers let the legislation squeak by last week after Petro's moved to call a public referendum . Petro signs the law at the home of Simón Bolívar Petro signed the legislation at the historic home of 19th-century war hero Simón Bolívar, who led South America's fight against imperial Spain. He posted on social media platform X: 'I sign the labor reform into law before Bolívar and the working people.' 'We must elect a government that will uphold this law and enforce it,' Petro said, alluding to the 2026 presidential elections. Opposition says the law will hurt employment The reform was cheered by trade unions and Petro's political allies Wednesday. But his push to strengthen worker protections has proved controversial, as the expensive benefits are expected to hike up costs for business owners. Petro's government has promised to push through a new bill to help small businesses, though the details remain unclear. Opposition lawmakers have painted a nightmare scenario of mass layoffs that will push more workers into Colombia's already vast informal economy. Many say that the mandated reductions in working hours, increases in overtime pay for Sunday and holiday shifts will especially squeeze small and medium-sized businesses. Already, his government's increased spending and reduced tax income have challenged fiscal stability. Critics also say that the changes won't help informal workers without contracts, who represent over half of Colombia's total labor force, according to the latest figures. The legislation guarantees health and pension benefits for only some gig workers, such as app-based delivery workers. Then there's the question of compliance. 'I want to tell those employers who say they won't implement the labor reform that they're not intelligent,' Petro said on Wednesday. Petro had to scale back the law to get it through Even as he hailed the law, it fell short of Petro's ambitions. He was forced to compromise on some key provisions to push it through a hostile Congress. Provisions stripped from the final version included extended paternity leave, paid leave for women with debilitating menstrual pain and some collective bargaining rights for unions. The signing of the law comes at a tumultuous time for the third largest nation in Latin America, with a wave of bombing attacks shaking the northeast and an assassination attempt on conservative presidential hopeful and senator Miguel Uribe stunning the country. Uribe remains in intensive care.
