Latest news with #DonaldTrump-backed
Skift
4 days ago
- Business
- Skift
Junk Fees, Airport Security, No Tax on Tips: 7 Travel Bills in Congress We're Tracking
Although travel isn't at the top of Congress' agenda, lawmakers in Washington are discussing several bills that would impact the industry. Travel and tourism isn't at the top of Congress' agenda, which this month is dominated by debate over the President Donald Trump-backed 'big, beautiful' tax and spending bill. But that doesn't mean that lawmakers aren't attempting to make laws that would directly affect the hotel, lodging, air travel, and cruise industries. Here are seven such federal bills to watch heading into the summer: 1: Hotel Fees Transparency Act of 2025 Introduced by Rep. Young Kim (R-Calif.), this bipartisan bill targets 'unfair and deceptive advertising of prices for hotel rooms and other places of short-term lodging.' Bill co-sponsors include Reps. Kathy Castor (D-Fla.), Russell Fry (R-S.C.), Kevin Mullin (D-Calif.), Craig Goldman (R-Texas), Eugene Vindman (D-Va.) and André Carson (D-Ind.). The bill mandates that hotels and short-term rental providers must: Display the 'total services price, if a price is displayed, in any advertisement, marketing, or price list wherever the covered services are displayed, advertised, marketed, or offered for sale.' Disclose 'the total services price at the time the covered services are first displayed to [an] individual and anytime thereafter throughout the covered services purchasing process.' Disclose before a final purchase 'any tax, fee, or assessment imposed by any government entity, quasi-government entity, or government-created special district or program on the sale of covered services.' The bill passed the U.S. House on a voice vote in April. The U.S. Senate is now considering the measure. There, Sen. Amy Klobuchar (D-Minn.) has introduced a Senate version of the Hotel Fees and Transparency Act of 2025, which is co-sponsored by Sens. Jerry Moran (R-Kansas), Catherine Cortez Masto (D-Nev.) and Shelley Moo
Yahoo
02-06-2025
- Business
- Yahoo
Circle that rejected Ripple's acquisition offer has a major announcement
Circle that rejected Ripple's acquisition offer has a major announcement originally appeared on TheStreet. New York-based stablecoin issuer Circle Internet Group, which rejected acquisition offers by crypto industry giants such as Ripple and Coinbase (Nasdaq: COIN), has a major announcement, Reuters reported on June 2. Circle said that it has upsized the size and pricing range of its upcoming initial public offering (IPO), now targeting a higher valuation of up to $7.2 billion on a fully diluted basis. As reported earlier, Circle has filed for an IPO on the New York Stock Exchange under the ticker symbol "CRCL." Earlier, the firm was offering 24 million shares of its Class A common stock, which it has now raised to 32 million shares — in the hope of raising up to $896 million. It has also raised the IPO price range from $24-$26 a share to $27-$28 a share. Notably, Wall Street giants such as JPMorgan, Citigroup, and Goldman Sachs & Co. LLC are acting as the lead underwriters for the stock offering. Circle's USDC is the second-largest stablecoin. A stablecoin is a type of cryptocurrency that is created to maintain a stable value, unlike traditionally volatile cryptocurrencies such as Bitcoin. It is usually pegged to a fiat currency like the U.S. dollar or a commodity like gold. Pegged 1:1 to the USD, USDC accounts for nearly 25% of the total stablecoin market worth $248 billion. Even President Donald Trump-backed crypto venture World Liberty Financial has launched its stablecoin USD1, occupying a meagre 0.008% share as of now. Circle's latest move is a major development, given the recent stride forward taken by the stablecoin-related GENIUS Act in the Senate. Circle that rejected Ripple's acquisition offer has a major announcement first appeared on TheStreet on Jun 2, 2025 This story was originally reported by TheStreet on Jun 2, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
JPMorgan and BofA just made a move no one saw coming
Companies owned by U.S. banking giants such as JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are exploring joining forces to launch a joint stablecoin, The Wall Street Journal reported on May 23. The talks are still at an early stage, as the banks are evaluating the changing regulatory norms and stablecoin demand before making a call. A stablecoin is a type of cryptocurrency that attempts to maintain a stable value, unlike traditionally volatile cryptocurrencies such as Bitcoin. It is pegged to a relatively stable asset such as a fiat currency like the U.S. dollar or a commodity like gold. Payments firms linked to Early Warning Services, the owner of digital payments network Zelle, and the payment network Clearing House are also part of the discussion, the report said. A stablecoin model that is adaptable to banks beyond the select institutions that are holding the discussion is on the table. As per DeFiLlama, the stablecoin market is worth $245 billion as of now, with USDT issuer Tether and USDC issuer Circle collectively occupying more than 85% of the share. Even the President Donald Trump-backed crypto organization, the World Liberty Financial, has launched its stablecoin USD1. The stablecoin accounts for 0.87% of the total market share. It was a landmark week for the stablecoin market as the Senate advanced the GENIUS Act that deals with stablecoin regulation with a 66-32 vote on May 19. The legislation faced intense criticism from the Democrats, such as Senator Elizabeth Warren, who said it overlooks Trump's 'blatant crypto corruption' through his involvement with multiple crypto ventures, such the USD1 stablecoin. JPMorgan and BofA just made a move no one saw coming first appeared on TheStreet on May 23, 2025
New Straits Times
20-05-2025
- Business
- New Straits Times
Bursa Malaysia ends mixed
KUALA LUMPUR: Bursa Malaysia closed mixed today amid the absence of fresh leads. At 5 pm, the benchmark index fell 7.27 points, or 0.47 per cent, to 1,548.87 from Monday's close of 1,556.14. The benchmark index had opened 0.78 of-a-point higher at 1,556.92 and fluctuated between 1,545.77 and 1,561.10 throughout the trading session. In the broader market, gainers edged losers 478 to 458, while 496 counters were unchanged, 977 untraded and 17 suspended. Turnover decreased to 2.61 billion units worth RM1.98 billion against Monday's 3.71 billion units worth RM2.27 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said that despite stronger performances in major markets such as Hong Kong, China and Japan, the FBM KLCI ended lower in line with the broader regional emerging market declines. He added that investors' focus shifts to the upcoming vote in the US House on a President Donald Trump-backed tax reform, alongside potential developments in trade talks "Fundamentally, the mid-term prospects remain positive, supported by compelling valuations, stronger corporate earnings and a recovering economy. Hence, we see the FBM KLCI trending within the 1,540-1,570 range for the remainder of the week," he told Bernama. Thong noted that selling pressures were seen on consumer, banks and plantation stocks with buying on energy, property and REITs. Among heavyweights, Public Bank increased three sen to RM4.52, Tenaga Nasional advanced four sen to RM14.14, Petronas Gas jumped 14 sen to RM17.72, Hong Leong Bank and Press Metal were flat at RM19.90 and RM4.96 respectively, while Maybank slipped 10 sen to RM10.04. For active stocks, ACE Market debutant PEOPLElogy and Tanco rose 1.5 sen each to 26.5 sen and 95.5 sen, NexG increased half-a-sen to 38 sen, Velesto was flat at 16.5 sen, and Gamuda eased five sen to RM4.52.
Yahoo
10-04-2025
- Politics
- Yahoo
Dems fight bill to stop illegal immigrant voting despite polls showing voter support
The House passed the Safeguarding American Voter Eligibility (SAVE) Act on Thursday, with 208 Democrats voting against the President Donald Trump-backed measure that would crack down on noncitizen voting. The SAVE Act, which passed 220-208, now heads to the Senate, where it will need the support of some Democrats to meet the 60-vote threshold for advancement. Democrats have rejected the bill, despite polling indicating bipartisan support for voter ID requirements. A Gallup Poll released ahead of the 2024 election found that 84% of respondents favor requiring a photo ID to vote, and 83% support requiring proof of citizenship when registering to vote for the first time. If passed in the Senate and signed into law by Trump, the SAVE Act by Rep. Chip Roy, R-Texas, would require voters to obtain proof of citizenship in person before they register for a federal election, and it would remove noncitizens from voter rolls. Trump-backed Bills On Activist Judges, Noncitizen Voting Heading For House-wide Votes "After four years of mass illegal immigration facilitated by the Biden administration, it is more important now than ever to ensure only American citizens are voting in American elections. By passing the SAVE Act, House Republicans are once again proving our commitment to defending the will of the American people," House Majority Whip Tom Emmer, R-Minn., told Fox News Digital. Read On The Fox News App Vast Majority Of Americans Support Photo Id Requirement To Vote, New Poll Says Meanwhile, Democrats have rejected the implication that illegal immigrants are voting in U.S. elections. Nineteen Democratic-led states and Democratic leaders sued the Trump administration's election integrity executive order requiring proof of citizenship to vote in American elections. "Noncitizens attempting to register to vote is exceedingly rare, and if they do, they face severe consequences, including fines up to five years in prison, and deportation," Rep. Suzanne Bonamici, D-Ore., said on the House floor, urging her colleagues to reject the SAVE Act. "Coupled with President Trump's recent anti-voter election executive order, the SAVE Act would end the voter registration process for all Americans as they know it. Republicans have repeatedly failed to present any evidence that noncitizen voting at a federal level has ever affected the outcome of any election," Rep. Joe Morelle, D-N.Y., added in opposition to what he called the "extremist anti-voter SAVE Act." The SAVE Act passed a procedural hurdle known as a "rule vote" on Wednesday. A simple majority of House lawmakers was needed to pass the "rule" to allow for debate and eventual House-wide votes on the legislation. It was first introduced in July 2024 under former President Joe Biden's administration and failed to pass through the Democratic majority in the Senate. Roy reintroduced the bill in January as it was more likely to pass under a Republican-controlled House, Senate and White House. "The American people have spoken very clearly that they believe only American citizens should vote in American elections. There's nothing controversial about that," Roy said on the House floor ahead of the votes. "This legislation is designed to restore that faith, to save our elections, to save election integrity. I'm proud to have worked on this bill with my friend, the chairman, with my colleagues on this side of the aisle, and I would note that five of my Democrat colleagues joined us last summer to vote for this bill. Hardly a partisan exercise to say that we should protect the elections of the American people," he added. The bill made headway during the 2024 presidential election as the Republican National Committee (RNC) led voter integrity efforts in battleground states across the country. Trump has long supported the legislation and held a Mar-a-Lago press conference last summer with House Speaker Mike Johnson, R-La., affirming Republican support for the bill. Voter registration is handled on the state level, so rules requiring proof of citizenship or photo ID differ by state. Thirty-six states request or require identification to vote. The SAVE Act would federalize the issue, requiring proof of citizenship to vote and removing noncitizens from voter rolls. Click To Get The Fox News App When Virginia, led by Republican Gov. Glenn Youngkin, attempted to remove noncitizens from the state's voter rolls, Biden's Justice Department rejected the program and tried to restore the canceled voter registrations. The Supreme Court's conservative majority upheld Virginia's removal of about 1,600 people from the voter article source: Dems fight bill to stop illegal immigrant voting despite polls showing voter support
