Latest news with #Actof2025
Yahoo
22-04-2025
- Politics
- Yahoo
Bipartisan federal bill seeks to boost support for smaller police forces
PEORIA, Ill. (WMBD) — A bipartisan Congressional bill could mean more support for police departments here at home. The Invest to Protect Act of 2025 (H.R. 2177) would create a dedicated fund for small and medium-sized police departments with fewer than 175 officers. They can use the money to recruit, train and retain police officers. Funds can also be used to invest in officers' mental health. 'It is an investment by the federal government to protect our law enforcement,' said Rep. Eric Sorensen (D-Ill.). 'The job of police officers and law enforcement officers is going to change and we have to make sure that we're ahead of the curve.' Sorensen, who helped introduce the bill in early April, said it's something everyone can get behind. 'I really don't think that's a partisan issue. I don't think that's a left or a right issue. If anything, I think this is one of those issues that can help bring us back together because the politics of hate and division, it is on full display these days, and this is one of those cases and one of those bills in Congress that can help us get through that,' he said. The bill indicates the cap would be $50 million per fiscal year from 2017 to 2031. Right now, the bill is in the House Judiciary Committee. The Senate version of the bill, S.B. 768, was introduced in February. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Forbes
17-04-2025
- Business
- Forbes
Market Forces Take Control As Business Risk Becomes Great Equalizer In Corporate Resilience Strategy
Large corporations are entering a period of introspection when it comes to sustainability and corporate resilience. As United States (U.S.) policy on the environment and climate-related disclosures, both domestically and abroad, continues to shift to a much lighter touch, companies will need to further take it upon themselves to manage regulatory risks related to environmental, health, safety and sustainability-related issues. Increasingly, how effectively they manage that process will be judged not by regulators, but by investors, customers and employees. Put simply, the major resiliency risk that companies now face is more market-driven than regulatory, compared to just a few months ago. And that can change the nature of the risk. From both an operational and reputational perspective, the landscape businesses now face could even be more complicated to manage than the legislative pressures they were facing at the end of 2024. The landscape businesses now face could even be more complicated to manage than the legislative ... More pressures they were facing at the end of 2024 Consider, for example, a new bill introduced earlier this month by a member of the Senate Banking Committee called Preventing Regulatory Overreach from Turning Essential Companies into Targets (PROTECT USA) Act of 2025. The sole purpose of the legislation is to stop U.S. companies operating in the European Union (EU) from having to comply with the Corporate Sustainability Due Diligence Directive (CSDDD). While the bill was just recently introduced and there is yet, no way of knowing if it will be successful and what the potential impact may be, its emergence creates a fascinating new wrinkle. The success of this bill alongside other efforts to deregulate, could potentially make it more difficult for multinational companies to navigate the differing jurisdictional regulatory approaches across their global operations and supply chains. Meanwhile, as EU regulators continue to refine the Corporate Sustainability Due Diligence Directive (CSDDD), Corporate Sustainability Reporting Directive (CSRD), Carbon Border Adjustment Mechanism (CBAM) and other sustainability-related reforms as part of their Omnibus Simplification Package, many big businesses have already started to highlight the challenges that this raises. In many cases, the constant back-and-forth and associated shifts in regulatory sentiment have become more difficult to manage than the regulations themselves. In addition, many individual U.S. states have taken it upon themselves to implement new sustainability regulations to help fill the perceived void being left by federal policy. However, in just the last few days, even this approach may be modified for those companies working in the energy sector. In an Executive Order released earlier this month, state laws and policies 'purporting to address 'climate change' or involving 'environmental, social, and governance' initiatives, 'environmental justice,' carbon or 'greenhouse gas' emissions,' have been deemed as 'fundamentally irreconcilable' with the Administration's objective, and noting that 'they should not stand.' States such as New York, California, and Vermont are specifically mentioned. From a big business perspective – where global compliance mandates often require years of retooling and preparation – plotting a course through the current ever changing regulatory related landscape is becoming more and more of a challenge. There is a tendency when reading headlines about sweeping changes to major regulatory initiatives to look only at the topline effects – federal regulation is loosening – and the assumption that this will make compliance less burdensome. In many ways, however, the volatility and uncertainty that emanates from this constant level of flux makes compliance more difficult to manage for global corporations. Now, instead of just complying with the high-level regulations that had traditionally governed the lion's share of their business, companies must now start to take a hyperlocal approach that scrutinizes the law of the land in each jurisdiction in which they do business to make sure they aren't falling foul of an assortment of localized requirements. In some cases, those requirements could now stand at direct odds with others implemented in different jurisdictions, creating a real headache for global compliance teams. We're already seeing indications of that phenomenon play out in Europe where companies that operate in both the EU and the U.S. have started to alter their diversity, equity and inclusion (DEI) policies on a jurisdiction by jurisdiction basis to meet the current prevailing business needs. It will likely not be long before we could see similar strategies start to emerge around further sustainability-related compliance. The uncertainty and constant change within the regulatory landscape leaves businesses in a tough spot. The only way for them to successfully manage their way through this is to keep focused on their bottom-line business risks and continue to take a fact-based, quantitative approach to measuring, reporting and forecasting how these risks – and opportunities – will affect their ability to thrive in the future. Markets and stakeholders are quickly becoming even more of a driver for companies than ever-changing regulatory obligations. Now is not the time for businesses to bury their heads in the sand and wait for the sustainability regulatory drama to subside. Now is the time to get the facts straight about exactly what are the material sustainability risks to their business in each jurisdiction in which they and their suppliers, operate and to be ready to address them head on in real-time as market forces dictate. For most businesses, this is not a simple topic to navigate, and it is unlikely that many of them will want to put themselves out there as the poster children for such a currently contentious brand as sustainability' in the present business environment. Whether they broadcast it or stay silent, however, the need to clearly see the risks to their businesses, and to anticipate short- and long-term outcomes stemming from those risks, has never been greater. The markets demand it.
Yahoo
14-02-2025
- Business
- Yahoo
Tax credit would upgrade, expand US rail freight car fleet
Legislation reintroduced Tuesday in the House of Representatives would establish a 10% tax credit to help upgrade and expand the U.S. freight car fleet. The Freight Rail Assets Investment to Launch Commercial Activity Revitalization Act (Freight Railcar) Act of 2025 was reintroduced in the House by Illinois Republican Rep. Darin LaHood and Democrat Brad Schneider, with 40 original bipartisan co-sponsors. The bill was originally introduced in 2023. The three-year, 10% tax credit is designed to help offset the costs associated with replacing two existing railcars with a new railcar that improves fuel efficiency or capacity by at least 8%, or refurbishing or modernizing an existing railcar to improve fuel efficiency or capacity by at least 8%, or to upgrade tank cars to DOT-117 specifications. 'Illinois' rail network is a vital economic driver that impacts agriculture, manufacturing, and our local communities,' said LaHood, in a release. 'I am proud to reintroduce the Freight Railcar Act of 2025 alongside Rep. Schneider to spur job growth and strengthen the United States' infrastructure. Not only will this legislation improve the efficiency of railcars, but it will address supply chain constraints and support American manufacturing jobs.' 'Our rail network is crucial for commuters, farmers, and manufacturers all across Illinois and any weakness in that network is not only a short-term inconvenience but has long term consequences for our supply chain,' said Schneider, also in the release. 'I am proud to introduce this legislation with my colleague, Rep. LaHood, so we can bring our rail fleet into the 21st century and promote quality, well-paying jobs in the rail sector.' LaHood is the son of Ray LaHood, who served as transportation secretary under President Barack Obama. The tax credit expires three years after enactment of the legislation and is limited to 1,000 new freight cars per taxpayer per year. Existing railcars must have been in service during the 48 months prior to enactment. The credit applies to privately or publicly owned cars not under control of a state-owned or -supported entity. 'We are incredibly grateful for the leadership of Representatives LaHood and Schneider in reintroducing the Freight RAILCAR Act,' said Erik Olson, executive director of the Rail Security Alliance, in a release. 'This bill is key to ensuring American economic and national security. It not only supports our domestic freight railcar manufacturing and supply industry and the jobs tied to the sector, but guarantees supply chain reliability and the ability to move goods on U.S.-made rail assets.' The RSA represents builders, suppliers and other companies in the railcar business. Approximately 250,000 rail cars will need to be updated over the next 15 years, according to the RSA. The current North American railcar fleet comprises more than 1.6 million railcars with approximately 321,000 of those in storage. A number of U.S.-based railcar builders, such as Greenbrier, Trinity and FreightCar America, maintain manufacturing facilities in Mexico. It was not immediately clear if the tax credit would apply to cars built there for the North American market. A Greenbrier spokesman said the Portland, Oregon-based company had no comment on the bill. 'We anticipate both direct and indirect new jobs in the United States from this legislation,' said Olson, in an email to FreightWaves. 'Modernizing or replacing a significant portion of the aging railcar fleet stimulates demand for domestic steel, components, and assembly work, boosting both railcar manufacturer and supply-chain employment. Even though some U.S.-headquartered railcar builders operate facilities in Mexico, this tax credit is designed to strengthen the entire North American supply chain.' The measure harks back to the Incentive Per Diem legislation of the '70s that financed construction of 40,000 new boxcars. A loophole in the scheme helped build outsized fleets and generate returns for shortline railroads and investment firms but ultimately collapsed in the recession of the early '80s. The new measure 'would protect 65,000 American manufacturing jobs in the rail sector, invest in modern, more efficient railcars that will increase economic productivity, while reducing the sector's carbon footprint; and help the rail supply industry expand and thrive in the current economic climate,' the bill states. The bill awaits cost evaluation by the Joint Committee on Taxation, but Olson said supporters 'are actively working to get the legislation into the upcoming tax legislation likely to move through Congress this year.' This article was update Feb. 12 with additional comments from Erik Olson of RSA. Subscribe to FreightWaves' e-newsletters and get the latest insights on freight right in your inbox. Find more articles by Stuart Chirls line eyes Cali market, buys hydrogen locomotive builder Ceremony marks CPKC opening of second US-Mexico rail bridge Railcar builder CEO Tekorius appointed to Federal Reserve branch Weekly US rail traffic back ahead of 2024 levels The post Tax credit would upgrade, expand US rail freight car fleet appeared first on FreightWaves. Sign in to access your portfolio
