Legislative Updates – Pray for America's Leaders

Legislative Updates

District of Columbia | October 26, 2021

Climate Financing Plan Won’t Help Climate, but Will Push Country to Totalitarianism: Experts

District of Columbia | October 26, 2021

The Biden administration’s plan to impose a slew of financial regulations in order to counter climate change would end up having little impact on reducing global temperatures. But the measures would be quite effective at hurting economy, expanding government authority, and moving the country toward totalitarianism, according to several experts.

Biden’s plan, sketched out in a recent “roadmap” White House report, would infuse projections on climate change into decisions across the financial industry (pdf). Applying for a mortgage or other loans? The bank would consider the “climate risk” of underwriting it. Taking out an insurance? “Climate risk” would play into your premium. Putting money into a pension or investment fund? The fund managers would be free to consider “climate risk” in deciding where to invest your money. Buying stocks on your own? Public companies would need to divert part of their attention to explaining “climate risks” they face. Applying for a government contract? Prepare to justify your carbon footprint… (Excerpts from the Epoch Times)

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District of Columbia | October 26, 2021

‘Woke’ Federal Reserve in danger of losing control of inflation, economists warn

District of Columbia | October 26, 2021

Former Treasury Secretary Larry Summers’ criticism that the Federal Reserve and other central banks are too focused on “woke” social issues reflects a growing concern that policymakers aren’t paying enough attention to inflation.

Mr. Summers, a Democrat, is arguing his point as Senate Republicans try to prevent congressional Democrats and President Biden from pressuring the Fed to install regional directors who would devote some of their duties to climate change and racial equity. The Republicans describe the move as a dangerous case of “mission creep” from the central bank’s traditional role of ensuring maximum employment and price stability.

All 12 Republicans on the Senate Banking Committee fired a warning shot this month at the Fed’s regional offices in Boston and Dallas, which are seeking new presidents…. (Excerpts from the Washington Times)

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District of Columbia | October 24, 2021

Treasury Secretary Says US Not Losing Control Over Inflation as Twitter CEO Issues Dire Warning

District of Columbia | October 24, 2021

Twitter Chief Executive Officer Jack Dorsey issued a warning about the economy over the weekend as Treasury Secretary Janet Yellen on Oct. 24 said the United States isn’t losing control of inflation.

“Hyperinflation is going to change everything. It’s happening,” Dorsey wrote on Twitter. “It will happen in the U.S. soon, and so the world.”… (Excerpts from the Epoch Times)

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District of Columbia | October 20, 2021

Getting People from Welfare to Work

District of Columbia | October 20, 2021

Nikki Haley, former ambassador to the United Nations and governor of South Carolina, spoke about how she moved people in South Carolina from welfare to work. She believed that the people on welfare didn’t want to be on welfare. She asked businesses to hire a welfare recipient for 10 weeks and train them, and she’d pay them. At the end of 10 weeks, the businesses had to option to hire the people. Haley said thousands of people in the state moved from welfare to work this way…. (Excerpts from Black Community News)

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District of Columbia | October 18, 2021

‘Unprecedented’ Supply Chain Problems Hit School Cafeterias Across US

District of Columbia | October 18, 2021

A growing number of school districts have said that supply chain bottlenecks have forced them to suspend services or food items.

A spokesperson for Denver Public Schools (DPS), Theresa Hafner, said Sunday that the district is “struggling to receive enough milk to serve to every child at breakfast and lunch every day,” saying that parents should provide reusable bottles for children.

“When the milk is available, we are prioritizing serving milk at breakfast at all schools and at our elementary schools for lunch,” Hafner told Business Insider. “I think the milk company is trying its best to give most schools at least some milk, but not a complete order,” she added.

Earlier this month, DPS told parents that it was experiencing “unprecedented supply-chain challenges with food and milk this fall.” As a result, some of the food served to students may differ than what’s on the menu… (Excerpts from the Epoch Times)

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District of Columbia | October 18, 2021

Supply-Chain Bottlenecks, Elevated Inflation to Last Well Into Next Year, Survey Finds

District of Columbia | October 18, 2021

Uncomfortably high inflation will grip the U.S. economy well into 2022, as constrained supply chains keep upward pressure on prices and, increasingly, curb output, according to economists surveyed this month by The Wall Street Journal.

The economists’ inflation projections are up dramatically from July, while short-term growth outlooks are lower.

Economists on average see inflation at 5.25% in December, just slightly less than the rate that has prevailed since June. Assuming a similar level in October and November, that would mark the longest inflation has been above 5% since early 1991.

Consumer-price inflation will drop to 3.4% by June of next year, then 2.6% by the end of 2022, according to respondents’ average estimates. That is still above the average 1.8% that prevailed in the decade before the pandemic…. (Excerpts from Wall Street Journal)
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