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Biden signs bill boosting US chip manufacturing as he kicks off victory lap

The CHIPS and Science Act will invest more than $200 billion over the next five years in a bid to help the US regain a leading position in semiconductor chip manufacturing. It is aimed at lowering the cost of goods, making the US less reliant on foreign manufacturing and mitigating supply chain disruptions in the wake of the Covid-19 pandemic.

Biden on Tuesday described the law as a “once-in-a-generation investment in America itself.”

“Today America is delivering, delivering, and I honest to God believe that 50, 75, 100 years from now from people who will look back on this week, they’ll know that we met this moment,” Biden said at an event on the White House South Lawn.

The President, who recently emerged from isolation after a rebound case of Covid-19, coughed throughout his speech.

The event was attended by union leaders, industry executives from companies such as HP and Intel, congressional leaders from both sides of the aisle and state elected officials. Senate Majority Leader Chuck Schumer, House Speaker Nancy Pelosi and Secretary of Commerce Gina Raimondo also spoke at the event.

According to the White House, companies this week announced nearly $50 billion in additional investments in American semiconductor manufacturing as a result of the newly passed legislation.

“Micron is announcing a $40 billion investment in memory chip manufacturing, critical for computers and electronic devices, which will create up to 40,000 new jobs” in construction and manufacturing, a White House fact sheet says. “This investment alone will bring the US market share of memory chip production from 2 percent to 10 percent.”

Additionally, Qualcomm and GlobalFoundries are announcing a new partnership that includes $4.2 billion to manufacture chips.

Later on in the day, Biden will sign the ratification of the accession of Sweden and Finland to NATO. The addition of the two traditionally neutral countries to the alliance represented a major foreign policy accomplishment for Biden during a trip to Europe for summits in June.

And on Wednesday, the President will sign the Sergeant First Class Heath Robinson Honoring our Promises to Address Comprehensive Toxics (PACT) Act of 2022 into law. The legislation expands health care benefits for millions of veterans exposed to toxic burn pits during their military service.
The bill widely expands health care resources and benefits to those exposed to burn pits and could provide coverage for up to 3.5 million veterans who qualify. It adds conditions related to burn pit and toxic exposure, including hypertension, to the Department of Veterans Affairs’ list of illnesses that have been incurred or exacerbated during military service. Biden has long speculated that burn pits played a role in the cancer that killed his son, Beau, in 2015.
The bill signings — along with other related accomplishments like the recent targeted killing of Osama bin Laden’s successor and continued declining gas prices — amount to the possibility that Biden may get the pre-midterms boost Democrats have been hoping for.

With the 2022 midterm elections less than 100 days away, and as Americans have grown discontented through a summer of major economic and political changes, Biden’s political standing among the public has declined.

A CNN poll released in mid-July found that nearly 7 in 10 Americans had said that Biden had not been paying enough attention to the nation’s most pressing problems. The President’s approval rating, in the poll, stood at 38%. And at the end of July, another CNN poll found that 75% of Democratic and Democratic-leaning voters wanted the party to nominate someone other than Biden in the 2024 presidential election.
The events come after the President had been isolating at the White House while dealing with a rebound case of Covid-19. Biden, who is at increased risk for a more severe case of Covid-19 due to his age, was cleared to emerge from isolation on Sunday following a second negative Covid-19 test.

Before the month’s end, Biden could have some other major opportunities to claim political victories.

Biden faces the real prospect of soon signing into law the Inflation Reduction Act — a version of his landmark climate change and health care bill.

The sweeping bill passed in the Senate along party lines and the House is expected to vote on it later this week.

The legislation would represent the largest climate investment in US history and make major changes to health policy by giving Medicare the power for the first time to negotiate the prices of certain prescription drugs and extending expiring health care subsidies for three years. The legislation would reduce the deficit, be paid for through new taxes — including a 15% minimum tax on large corporations and a 1% tax on stock buybacks — and increase the Internal Revenue Service’s ability to collect.

It would raise over $700 billion in government revenue over 10 years and spend over $430 billion to reduce carbon emissions and extend subsidies for health insurance under the Affordable Care Act and use the rest of the new revenue to reduce the deficit.

Before the month’s end, the President will also have to make a decision about whether to extend the nation’s ongoing mass federal student loan forbearance.

The President is also weighing the possibility of canceling some student loans. It’s an issue that’s sharply divided among partisan and generational lines, but one that could act as yet another political boon among some voters as the country continues to grapple with inflation raising the cost of everyday goods and services.

CNN’s Kristin Wilson, Clare Foran, Melanie Zanona, Jessica Dean, Ali Zazlav and Alex Rogers contributed to this report.

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Donald Trump says FBI conducting search of Mar-a-Lago estate in Florida

WASHINGTON — Multiple sources confirm to ABC News that former President Donald Trump’s Mar-a-Lago estate was raided by FBI agents on Monday.

The sources told ABC News that the search began at around 10 am

The former president put out a statement Monday evening saying federal investigators were there and that they had even gotten into his safe. Trump was not there at the time of the search.

Sources tell ABC News that the search for Mar-a-Lago was related to the 15 boxes of documents that Trump took to his estate when he departed the White House — some of which the National Archives has said was marked classified.

MORE: Republicans speak out against FBI raid of Trump’s Mar-a-Lago estate

In January, Trump handed over the documents to the National Archives, and attorneys for Trump said they were searching for any more records they may have.

Law enforcement sources told ABC News the FBI activities at Trump’s compound are court authorized.

The action marks a dramatic escalation in law enforcement scrutiny of Trump and comes as he has been laying the groundwork to make another bid for president.

“After working and cooperating with the relevant Government agencies, this unannounced raid on my home was not necessary or appropriate,” Trump said in his statement.

ANALYSIS: What we know, don’t know about Mar-a-Lago raid

Justice Department spokesperson Dena Iverson declined to comment on the search, including about whether Attorney General Merrick Garland had personally authorized the search.

A Biden White House official confirmed to ABC News Tuesday morning they received no advanced notice of the FBI raid.

Federal law bars the removal of classified documents to unauthorized locations, though it is possible that Trump could try to argue that, as president, he was the ultimate declassification authority.

There are multiple statutes governing classified information, including a law punishable by up to five years in prison that makes it a crime to remove such records and retain them at an unauthorized location. Another statute makes it a crime to mishandle classified records either intentionally or in a grossly negligent manner.

The probe is hardly the only legal headache confronting Trump. A separate investigation related to efforts by Trump and his allies from him to under the results of the 2020 presidential election and the Jan. 6, 2021, riot at the US Capitol has also been intensifying in Washington.

And a district attorney in Fulton County, Georgia is investigating whether Trump and his close associates sought to interfere in that state’s election, which was won by Democrat Joe Biden.

The Associated Press contributed to this report

Copyright © 2022 ABC News Internet Ventures.

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Block Island Ferry the focal point of a massive police investigation

NARAGANSETT, RI (WFSB) – The Block Island ferry in Rhode Island was a crime scene on Tuesday morning.

Police boarded the boat on Monday night after eyewitnesses reported that a major fight broke out on it.

Some dramatic video from the scene was shared with the media.

Nani Santiago recorded video of police boarding a Block Island ferry the evening of Aug. 8.

Nani Santiago was on the ferry and captured the footage late Monday night as the incident unfolded. Officers could be seen jumping from a transport boat right onto the moving ferry.

A short time later, law enforcement agents rushed through the scene with their guns drawn.

It happened near the Port of Galilee, which is in the Point Judith section of Narragansett.

Eyewitnesses told Channel 3 that the ferry was packed because of a reggae festival. They said a huge fight between two groups of people threw the boat into chaos and that multiple people were hurt.

Police have not confirmed that information. However, reporters captured video of several ambulances leaving the scene.

The situation became a massive investigation.

Channel 3 learned on Tuesday morning that the Narragansett Police Department ceded primary control of the investigation to Rhode Island State Police, although multiple other departments are assisting them along with several K9 units.

A massive investigation was underway at the Block Island ferry terminal at Point Judith.

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Defense resume case on Day 10

VLADIMIR ENTERS THE COURTROOM AS HIS TRIAL MOVES INTO ITS THIRD WEEK. THE DEFENSE’S FIRST WITNESS OF THE DAY, DETECTIVE SERGEANT TEMPEST KABALI, THE NEW HAMPSHIRE STATE POLICE. KABALI TOLD JURORS ABOUT HIS INTERVIEW WITH SEAN MOYNAHAN, A MEMBER OF THE JARED’S MOTORCYCLE CLUB THAT TOOK PLACE THE DAY AFTER THE CRASH. KABALI THE JURY THAT MOYNAHAN SAID HE WAS INTOXICATED THAT NIGHT AND FOLLOWED BEHIND THE MOTORCYCLES IN A CAR WITH OTHER WOMEN. DID YOU FOLLOW WITH HIM AT ALL ON HIS STATEMENT THAT HE DRUNK? NO. DID YOU LEARN ANY OTHER NEW HAMPSHIRE STATE POLICE PERSONNEL TO THAT INFORMATION? NO. DOCUMENTED EVERYTHING. THE SECOND. REPORTED EVERYTHING YOU WAS. AND PROVIDED THAT TWO YEARS? YES BUT THE BULK OF MONDAY’S TESTIMONY FROM WILLIAM HOWERTON, A CRASH RECONSTRUCTION ANALYST WITH SCIENTIFIC WHILE PRESENTING A SIMULATION OF THE CRASH. HOWERTON TEST IFIED THAT THE IMPACT HAPPENED THE CENTER LINE AND SAYS THE SKIS TRUCK WAS TRAVELING STRAIGHT THE TIME ADDING THAT IT WAS THE MOTORCYCLE OF ALBERT MAZUR HITTING ZUCKOFF TRUCK THAT CAUSED IT TO CROSS THE ROAD. BUT MR. ACOSTA’S TRUCK IN THE MIDDLE OF THE WESTBOUND LANE. WOULD AN ACCIDENT STILL HAVE OCCURRED? AND IT IS. THE ROLL CYCLE WAS HEADED IN THAT DIRECTION. MR. MAZUR WAS NOT IN A STEADY STATE TURN. AND THEN THE MOTORCYCLE SLID. THERE’S NO EVIDENCE OF THAT. CLOSING ARGUMENTS TOMORROW MORNING. RE

Defense remains in trial of man charged in Randolph motorcycle crash

Volodymyr Zhukovskyy faces negligent homicide, manslaughter charges

The defense rested Monday in the trial of a man accused of causing a crash in 2019 that killed seven motorcycle riders. Volodymyr Zhukovskyy, 26, is on trial for multiple felony charges in the deadly crash on Route 2 in Randolph.>> Timeline: Zhukovskyy’s driving history; see how case has evolved Prosecutors have argued that Zhukovskyy was seen driving across the yellow line before the crash, but the defense has argued the lead motorcyclist, who was killed in the crash, was at fault. New Hampshire State Police Detective Sgt. Kempes Corbally testified about the interviews he conducted in the days immediately following the crash, saying the first statement out of club member Sean Moynihan’s mouth was that he was intoxicated. Moynihan told police he was following in a car with two women at the time of the crash. The defense seized on the intoxication testimony, asking whether Corbally asked what he had been drinking, where he had been drinking or whether other motorcyclists had been drinking. Corbally said he didn’t. After the prosecution rested last week, the judge dismissed eight charges against Zhukovskyy alleging that he was impaired at the time of the crash. He is still facing charges accusing him or driving recklessly. The bulk of Monday’s testimony came from William Howerton, a crash reconstruction analyst with Scientific Boston. While presenting a simulation of the crash, Howerton testified that the impact happened on the center line and said Zhukovsyy’s truck was traveling straight at the time. Howerton testified that he believes it was the motorcycle of Albert Mazza hitting Zhukvoskyy’s truck that caused the truck to cross the road. The jury is scheduled to receive final instructions from the judge Tuesday morning, followed by closing statements from both sides. Trial videos:Day 10 of testimony: Part 1 | Part 2 | Part 3 | Part 4Day 9 of testimony: 2 troopers testify | Hearing over instructionsDay 8 of testimony: Defense begins caseDay 7 of testimony: Part 1 | Part 2 | Defense motions to dismiss | Judge dismisses some chargesDay 6 of testimony: Part 1 | Part 2 | Part 3 (WARNING: Language used during the Day 6 proceedings contains expletives. Viewer discretion is advised)Day 5 of testimony: Part 1 | Part 2 | Part 3 | Part 4 Day 4 of testimony: Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6Day 3 of testimony: Part 1 | Part 2 | Part 3 | Part 4 Day 2 of testimony: Part 1 | Part 2 | Part 3 | Part 4 Day 1 of testimony: Part 1 | Part 2 | Part 3Opening statements: Prosecution | Defense Jury view instructions: Judge speaks to jurors; both sides give statementsZhukovskyy is facing charges including negligent homicide, manslaughter and reckless conduct in connection with the crash that resulted in the deaths of seven members of the Jarheads Motorcycle Club:Michael Ferazzi, 62, of ContoocookAlbert Mazza, 59, of LeeDesma Oakes, 42 , of ConcordAaron Perry, 45, of FarmingtonDaniel Pereira, 58, of Riverside, Rhode IslandJo-Ann and Edward Corr, both 58, of Lakeville, MassachusettsPrevious trial coverage:Day 9: Pair of defense witnesses testify at Randolph motorcycle crash trial Day 8: Defense begins case in Randolph motorcycle crash trial Day 7: Judge dismisses 8 charges against Zhukovskyy; 15 charges remain Day 6: Video of police interview with defendant played at Randolph motorcycle crash trial Day 5: Toxicology expert testifies as Randolph motorcycle crash trial continues for second week Day 4: Police interview with man accused of causing crash that killed 7 played in court Day 3: First responders testify about suspect’s behavior after Randolph crash that killed 7 Day 2: Witnesses testify about crash that killed 7 motorcyclists on second day of trial Day 1: Witnesses describe scene of crash that killed 7 motorcyclists as trial begins Jury view: Volodymyr Zhukovskyy trial jurors receive instructions, view crash sceneWMUR will have full coverage of the trial and will stream it live at WMUR.com and inside the WMUR mobile app.

The defense rested Monday in the trial of a man accused of causing a crash in 2019 that killed seven motorcycle riders.

Volodymyr Zhukovskyy, 26, is on trial for multiple felony charges in the deadly crash on Route 2 in Randolph.

>> Timeline: Zhukovskyy’s driving history; see how case has evolved

Prosecutors have argued that Zhukovskyy was seen driving across the yellow line before the crash, but the defense has argued the lead motorcyclist, who was killed in the crash, was at fault.

New Hampshire State Police Detective Sgt. Kempes Corbally testified about the interviews he conducted in the days immediately following the crash, saying the first statement out of club member Sean Moynihan’s mouth was that he was intoxicated. Moynihan told police he was following in a car with two women at the time of the crash.

The defense seized on the intoxication testimony, asking whether Corbally asked what he had been drinking, where he had been drinking or whether other motorcyclists had been drinking. Corbally said he didn’t.

After the prosecution rested last week, the judge dismissed eight charges against Zhukovskyy alleging that he was impaired at the time of the crash. He is still facing charges accusing him or driving recklessly.

The bulk of Monday’s testimony came from William Howerton, a crash reconstruction analyst with Scientific Boston. While presenting a simulation of the crash, Howerton testified that the impact happened on the center line and said Zhukovsyy’s truck was traveling straight at the time.

Howerton testified that he believes it was the motorcycle of Albert Mazza hitting Zhukvoskyy’s truck that caused the truck to cross the road.

The jury is scheduled to receive final instructions from the judge Tuesday morning, followed by closing statements from both sides.

trial videos:

Zhukovskyy is facing charges including negligent homicide, manslaughter and reckless conduct in connection with the crash that resulted in the deaths of seven members of the Jarheads Motorcycle Club:

7 people were killed in a crash on Route 2 in Randolph

  • Michael Ferazzi, 62, of Contoocook
  • Albert Mazza, 59, of Lee
  • Desma Oakes, 42, of Concord
  • Aaron Perry, 45, of Farmington
  • Daniel Pereira, 58, of Riverside, Rhode Island
  • Jo-Ann and Edward Corr, both 58, of Lakeville, Massachusetts

Previous trial coverage:

WMUR will have full coverage of the trial and will stream it live at WMUR.com and inside the WMUR mobile app.

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University City Townhomes cleared by Philadelphia Sheriff’s Office, residents protest

Sheriff’s officers cleared out an encampment at University City Townhomes on Monday morning, as West Philadelphia residents and supporters protested the displacement of 69 households from the complex, which is being sold.

As the officers dismantled tents that had been set up on the lawn of the affordable housing complex at 40th and Market Streets, up to 100 demonstrators chanted: “Housing is a human right.”

The encampment of about 15 tents, set up in early July, was a demonstration against the residents’ loss of housing. IBID Associates LP, the owner of the townhomes, announced plans last year to end its federal affordable housing contract and sell the property it purchased more than 40 years ago.

The sale means displacement for its predominantly Black and Latino residents, who received one year’s notice and have until Sept. 7 to move using housing vouchers. Some are still trying to find a place to live.

The residents, along with other West Philadelphians and housing activists, have vehemently protested the plan, calling on the city to purchase the complex. The property is for sale but has not yet been sold; a spokesperson for IBID said he could not provide any updates.

The tenants and supporters forming the encampment were ordered by a judge to leave by Monday morning. About 20 sheriff’s officers and other law enforcement personnel arrived at 9 am — as the crowd shouted, “Shame on you!” — and took down the tents in a little more than 15 minutes.

Longtime UC Townhomes resident Sheldon Davids shook his head at the empty lawn after the clearing was complete.

“They have torn down a powerful expression of solidarity,” he said.

» READ MORE: Owner of West Philly subsidized townhouses plans to sell, displacing dozens of families. It’s an example of the vulnerability of affordable housing.

During the clearing, two altercations took place between police, who appeared to push demonstrators, and the protesters. Philadelphia Police Department officers did not make any arrests or issue any citations, a department spokesperson said.

Sheriff’s Office spokesperson Teresa Lundy confirmed one person who got into a “physical brush” with officers was issued a citation for disorderly conduct.

Residents said they were protesting to protect their quality of life.

“We’re going to stand in solidarity. This is our home,” said Maria Lyles, who has lived at the townhomes for 25 years.

The townhomes were built after mostly Black residents were displaced from the area that is now University City in the 1960s and ’70s, when the city razed the neighborhood known as Black Bottom. The development was meant to be part of a city commitment to low-income housing in West Philadelphia, and its demise highlights issues of affordable housing, racial justice, and gentrification — displacing low-income residents of color who say it’s difficult to find comparable housing elsewhere.

Residents also don’t want to leave their neighborhood, where their lives are rooted. Moving can mean changing jobs, schools, services, and commutes, and losing support or professional networks.

At a Friday court hearing, a lawyer for IBID, the property owners, said the people in the encampment were trespassing. After the ruling by Common Pleas Court Judge Joshua Roberts, the property owners said in a statement that they “respect people’s right to protest” but that those in the encampment have “no legal right” to be on the private property.

After the clearing, a spokesperson for IBID said in a statement: “The owners appreciate the work of the Sheriff’s personnel and the Philadelphia Police Department who completed this task under difficult conditions.”

The owners are covering the costs of relocation for residents who seek assistance. But many residents worry landlords won’t accept their Section 8 housing vouchers, which the federal government provides for affordable housing and began being distributed to the townhomes’ residents in June.

Rasheda Alexander, who has lived in the townhomes since 2008, said residents felt set up for failure because so little adequate affordable housing is available. Amirah Brown, 59, agreed: The apartments she was shown as replacements, she said, sat on run-down blocks that felt unsafe.

“The places are horrible and look abandoned,” Brown said.

As the sheriff’s department came to carry out the judge’s order, Darlene Foreman, a member of the People’s Townhomes Residents Council, an encampment leadership group, led a chant calling on the city to purchase the property: “Stop the sale! Buy the block!”

Some residents also criticized City Councilmember Jamie Gauthier, who introduced a bill last fall to temporarily halt the demolition of the 70-unit property and rezone the block-sized tract of land to preserve affordable housing in the future. IBID sued in federal court, accusing Gauthier and the city of violating the company’s “constitutional right to sell the property.” Court records indicate Gauthier is no longer a defendant, but the West Philadelphia lawmaker said she could not discuss UC Townhomes because the lawsuit against the city remains ongoing.

An altercation occurred around 9:45 am as officers were dismantling a fence made of wooden pallets that circled the encampment. As protesters tried to hold onto the last length of the fence they had built, a scuffle broke out.

As protesters shouted at the officers, “Who do you protect? Who do you serve?,” a couple of officers appeared to push a few demonstrators. An officer pulled one man back by the waist; a few moments later, an officer could be seen throwing the same man to the ground before handcuffing him. Officers led him away in handcuffs.

Lundy, the sheriff’s office spokesperson, said the single person who was cited for disorderly conduct allegedly assaulted a sheriff’s deputy.

Another altercation happened earlier, when a protester was pushed back by a bicycle police officer. Another demonstrator then locked bikes with the officer. They separated their bikes, and the officer then used his el to push at the crowd.

» READ MORE: Judge orders University City Townhomes encampment to vacate property

Philadelphia Sheriff Rochelle Bilal said that her officers were simply doing their jobs in dismantling the protesters’ encampment.

“They should understand they’re all trespassing. And our job as the arm of the courts is to enforce that court order. And that’s all we’re doing,” Bilal said. “We are not judging them. We feel for them as far as what’s going on. But we have to do our job.”

In a statement on behalf of Bilal’s office later, Lundy said the lack of affordable houses was “an important issue that needs to be addressed by the legislative and executive branches,” saying Bilal was sympathetic to displacement issues and “keeping people in their homes. ”

The crowd marched on Market Street before heading back to the townhomes.

“What do we want?” shouted a woman with a megaphone as they marched. “Housing!” the residents shouted back.

Wearing T-shirts that read “Stop displacing Black communities,” the protesters also stopped in front of the president’s house of the University of Pennsylvania, which had a role in forcing out Black residents when the university expanded more than 50 years ago. Some Penn students and staff had previously called on the university to try to help stop the sale.

By noon, the protest over, some people returned to UC Townhomes to play music and string their protest signs back up between the trees.

With the Sept. 7 move-out deadline looming and many tenants still searching for housing, they said they would continue organizing and lobbying.

“They came and they got the tents, but the tents were symbolic,” said Alexander. “We are not the tents, and it doesn’t stop our voices. And we’re going to continue to fight.”

Staff videographer Jenna Miller contributed to this article.

The Philadelphia Inquirer is one of more than 20 news organizations producing Broke in Philly, a collaborative reporting project on solutions to poverty and the city’s push toward economic justice. See all of our reporting at brokeinphilly.org.

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These 30 companies will help employees pay off their student loans

Federal student loan payments, most of which were paused during the pandemic, are set to resume in September.

And yet, 93% borrowers say they are not financially prepared to restart payments, according to a survey by the Student Debt Crisis Center and Savi. With no break in sight for rising prices, many Americans are simply stretched too thin, other studies show.

The Biden administration is currently deciding how to proceed with student loan forgiveness, and there are signs that the repayment pause may be extended yet again. But in the meantime, more employers are offering to help.

More from Personal Finance:
What we know about student loan forgiveness
Here are the ‘most employable’ college degrees
5 things borrowers can do while they wait for loan forgiveness

About 8% of employers offered student loan debt in 2021 but 33% were considering adding it, according to the most recent data from Willis Towers Watson, a compensation assistance consulting firm.

“There’s a lot of interest across the board,” said Lydia Jilek, Willis Towers Watson’s senior director for voluntary benefits. “A greater swath of the population has student loan debt than many people think.”

“It continues to be a benefit of significant interest and value for employees as well as employers,” she added.

Remote-friendly companies offering student loan help

Meanwhile, many Americans also want to continue working remotely instead of going back to the office, at least some of the time. A Prudential survey found that financial stability, job benefits and a better work/life balance are top priorities going forward.

To that end, FlexJobs identified 30 companies — now hiring — that offer student loan repayment assistance as well as the ability to work-from-home.

Many of the employers on the list will provide a monthly payment towards student loans, while others make yearly contributions. The payments range from $50 to several thousands, usually with a maximum lifetime benefit, and may depend on full-time or part-time status, according to FlexJobs.

  1. Abbott
  2. Aetna
  3. American Family Insurance
  4. Americas
  5. Atticus Law
  6. BAM Communications
  7. Chow Now
  8. Common Bond, Inc.
  9. cross media
  10. evercommerce
  11. Fidelity Investments
  12. Google
  13. GumGum
  14. HCA Healthcare
  15. Homesite Insurance
  16. live nation
  17. Main Street Bank
  18. Medix
  19. new york life
  20. NVIDIA
  21. Parallon
  22. Platoon
  23. pricewaterhousecoopers
  24. Pure Insurance
  25. Real Chemistry
  26. SoFi – Social Finance
  27. teachable
  28. The Hartford
  29. vituity
  30. weedmaps

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Taiwan warns China drills show ambitions beyond island

PINGTUNG, Taiwan (AP) — Taiwan warned Tuesday that Chinese military drills aren’t just a rehearsal for an invasion of the self-governing island but also reflect ambitions to control large swaths of the western Pacific, as Taipei conducted its own exercises to underscore it’s ready to defend itself.

Angered by US House Speaker Nancy Pelosi’s recent visit to Taiwan, China has sent military ships and plans across the midline that separates the two sides in the Taiwan Strait and launched missiles into waters surrounding the island. The drills, which began Thursday, have disrupted flights and shipping in one of the busiest zones for global trade.

Ignoring calls to calm tensions, Beijing instead extended the exercises without announcing when they will end.

Taiwanese Foreign Minister Joseph Wu said that beyond aiming to annex the island democracy, which split with the mainland amid civil war in 1949, China wants to establish its dominance in the western Pacific. That would include controlling of the East and South China Seas via the Taiwan Strait and imposing a blockade to prevent the US and its allies from aiding Taiwan in the event of an attack, he told a news conference in Taipei.

The exercises show China’s “geostrategic ambition beyond Taiwan,” which Beijing claims as its own territory, Wu said.

“China has no right to interfere in or alter” Taiwan’s democracy or its interactions with other nations, he added.

Wu’s assessment of China’s maneuvers was grimmer than that of other observers but echoed widespread concerns that Beijing is seeking to expand its influence in the Pacific, where the US has military bases and extensive treaty partnerships.

China has said its drills were prompted by Pelosi’s visit, but Wu said Beijing was using her trip as a pretext for intimidating moves long in the works. China also banned some Taiwanese food imports after the visit and cut off dialogue with the US on a range of issues from military contacts to combating transnational crime and climate change.

Pelosi also dismissed China’s outrage as a public stunt, noting on NBC’s “Today” show that “nobody said a word” about a Senate delegation a few visit months ago. Later on the MSNBC news network, she said Chinese President Xi Jinping was acting like a “scared bully.”

“I don’t think the president of China should control the schedules of members of Congress,” she said.

Through its maneuvers, China has pushed closer to Taiwan’s borders and may be seeking to establish a new normal in which it could eventually control access to the island’s ports and airspace. But that would likely elicit a strong response from the military on the island, whose people strongly favor the status quo of de-facto independence.

The US, Taipei’s main backer, has also shown itself to be willing to face down Beijing’s threats. Washington has no formal diplomatic ties with Taiwan in deference to Beijing, but is legally bound to ensure the island can defend itself and to treat all threats against it as matters of grave concern.

That leaves open the question of whether Washington would dispatch forces if China attacked Taiwan. US President Joe Biden has repeatedly said the US is bound to do so — but staff members have quickly walked back those comments.

Beyond the geopolitical risks, an extended crisis in the Taiwan Strait, a significant thoroughfare for global trade, could have major implications for international supply chains at a time when the world is already facing disruptions and uncertainty in the wake of the coronavirus pandemic and the war in Ukraine. In particular, Taiwan is a crucial provider of computer chips for the global economy, including China’s high-tech sectors.

In response to the drills, Taiwan has put its forces on alert, but has so far refrained from taking active counter measures.

On Tuesday, its military held live-fire artillery drills in Pingtung County on its southeastern coast.

The army will continue to train and accumulate strength to deal with the threat from China, said Maj. Gen. Lou Woei-jye, spokesperson for Taiwan’s 8th Army Command. “No matter what the situation is… this is the best way to defend our country.”

Taiwan, once a Japanese colony, had only loose connections to imperial China and then split with the mainland in 1949. Despite never having governed the island, China’s ruling Communist Party regards it as its own territory and has sought to isolate it diplomatically and economically in addition to ratcheting up military threats.

Washington has insisted Pelosi’s visit did not change its “one China policy,” which holds that the United States has no position on the status of the two sides but wants their dispute settled peacefully.

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Associated Press writer Ashraf Khalil in Washington contributed to this report.

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Pro-SALT House Dems say they’ll back spending plan

They’re not SALT-y.

A trio of House Democrats from New York and New Jersey have said that they’ll support the massive spending plan their party forced through the Senate over the weekend — despite their earlier insistence that any such bill lift the cap on state and local tax (SALT ) deductions.

Rep. Tom Suozzi, Mikie Sherrill and Josh Gottheimer insisted that the $740 billion so-called Inflation Reduction Act would not raise taxes on individuals, despite a recent analysis by the Joint Committee on Taxation that found levies would jump by $16.7 billion on American taxpayers making less than $200,000 in 2023, while those who make between $200,000 and $500,000 would have to pay $14.1 billion more.

SALT deductions were limited to $10,000 as part of former President Donald Trump’s tax reform plan in 2017, hurting residents of high-tax states like New York and New Jersey.

Late last year, all three lawmakers insisted that President Biden’s multi-trillion-dollar Build Back Better package increase the SALT caps, with Suozzi embracing the mantra: “No SALT, no deal.

”The Long Island rep told The Post Monday that he would support the package “because it is good for my constituents, good for America, and great for the environment.”

SALT Caucus.
The lawmakers previously insisted that any spending plan lift the cap on state and local tax (SALT) deductions.
Tom Williams/CQ-Roll Call, Inc via Getty Images
Rep. Josh Gottheimer.
“If someone tries to change the tax rates on families in my District, I will insist that we restore the State and Local Tax Deduction,” Rep. Josh Gottheimer vowed.
Kevin Dietsch/Getty Images

“Regarding SALT, the Inflation Reduction Act does not increase personal income taxes and ‘No SALT, no deal’ does not apply,” Suozzi added. “If any change is proposed in the personal income tax rate, I will insist that we restore the State and Local Tax Deduction.”

“The bill is fully paid for, in part, with provisions that go after tax cheats. It will also help pay down the debt — a fiscally-responsible way to get inflation down,” Gottheimer said Sunday after Vice President Kamala Harris cast the tie-breaking vote in the Senate.

“As for SALT, my line in the sand remains the same. If someone tries to change the tax rates on families in my District, I will insist that we restore the State and Local Tax Deduction,” he continued. “This legislation doesn’t raise taxes on families in my District — it reduces the financial burden on them. For that reason, and for its strong support of the climate, lower prescription drug prices, and job creation, I’ll be voting for it.”

Rep. Mikie Sherrill.
Rep. Mikie Sherrill said she would vote for the legislation because it “does not raise taxes on families in my district.”
Tom Williams/CQ-Roll Call, Inc via Getty Images

Sherrill also expressed her commitment to reforming SALT, but noted that “[b]Because this legislation does not raise taxes on families in my district, but in fact significantly lowers their costs, I will be voting for it.”

The measure passed by the Senate does out $369 billion on environmental programs, including tax credits for buyers of electric vehicles and rebates for low-income Americans to install renewable energy sources in their homes.

The legislation also includes provisions allowing Medicare to directly negotiate the prices of certain drugs and capping out-of-pocket costs at $2,000 annually. The bill also extends expiring Affordable Care Act subsidies through 2025, allowing people earning up to 150% of the federal poverty level to get health insurance for free.

Tom Suozzi.
Rep. Tom Suozzi previously embraced the “No SALT, no deal” mantra.
Tom Williams/CQ-Roll Call, Inc via Getty Images

A $35-per-month cap on what private insurers can charge out-of-pocket for insulin failed to survive the hours-long vote-a-rama that preceded the final vote, falling three “ayes” short of the 60 needed to make the legislation.

The House is expected to reconvene to debate and vote on the measure on Friday. It is expected to pass and be sent to Biden’s desk with all 210 of the chamber’s Republicans voting “nay.”

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US

Trump once complained that his generals weren’t like Hitler’s, book says

Former President Donald Trump once complained to his White House chief of staff that his generals weren’t “totally loyal” like Adolf Hitler’s during World War II, according to a book excerpt published Monday.

“You f—ing generals, why can’t you be like the German generals?” Trump asked then-White House chief of staff John Kelly, according to an excerpt of “The Divider: Trump in the White House, 2017-2021,” co-written by New Yorker staff writer Susan Glasser and New York Times correspondent Peter Baker.

When Kelly asked Trump for clarification, the president reportedly replied by specifying, “The German generals in World War II.”

Kelly, a retired Marine general, then asked Trump whether he knew that those generals “tried to kill Hitler three times and almost pulled it off.”

According to the excerpt, Trump dismissed Kelly’s historically accurate description, insisting, “No, no, no, they were totally loyal to him.”

The New Yorker published the excerpt Monday.

The exchange was described in the excerpt as “typical” of Trump’s expectation of fealty from his military officers.

The authors wrote that on another occasion, during the summer of 2017, Trump told Kelly that he wanted to hold a military parade and said: “Look, I don’t want any wounded guys in the parade. This doesn’t look good for me.”

“Those are the heroes,” Kelly reportedly protested.

NBC News has asked Kelly and a Trump spokesman for comment.

Kelly joined the Trump administration in 2017 as homeland security secretary and later became White House chief of staff. I have left about midway through Trump’s presidency.

Other parts of the book excerpt focused on Gen. Mark Milley, who has been the chairman of the Joint Chiefs of Staff since October 2019. The coming book includes a resignation letter Milley drafted after the violent clearing of Lafayette Square near the White House on June 1, 2020. Milley wrote in the draft letter, which he didn’t submit, that he worried that Trump was “doing great and irreparable harm” to the country and that he had concerns about the president’s “concerted effort over time to politicize the United States military.”

Milley’s letter also described how he didn’t think Trump understood a generation that “fought against Nazism, has fought against extremism,” adding, “It’s now obvious to me that you don’t understand that world order.”

“In fact, you subscribe to many of the principles that we fought against. And I cannot be a party to that,” Milley added.

According to the excerpt, Milley also feared Trump’s “Hitler-like” spouse of election lies.

NBC News has asked the Defense Department for comment.

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US

No change in US assessment on China timeline for Taiwan, official says

WASHINGTON, Aug 8 (Reuters) – Washington has not changed its assessment on China’s timeline for potentially taking Taiwan militarily, a senior Pentagon official said on Monday, sticking by previous statements that Beijing would not try to take it in the next two years.

China announced new military drills around Taiwan on Monday, drawing concern from US President Joe Biden, a day after the scheduled end of Beijing’s largest military exercises in the area to protest last week’s visit to the island by US House Speaker Nancy Pelosi.

Asked if the Pentagon’s assessment that China would not try to retake Taiwan militarily in the next two years had changed since Pelosi’s trip, Under Secretary of Defense for Policy Colin Kahl said: “No.”

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“Clearly the PRC (People’s Republic of China) is trying to coerce Taiwan, clearly they’re trying to coerce the international community and all I’ll say is we’re not going to take the bait and it’s not going to work,” Kahl said.

In November, the top US general said China was unlikely to try to militarily seize Taiwan in the next couple of years, even as its military develops capabilities that would enable forcibly retaking the self-ruled island.

Officials have privately said that they do not believe China will even be militarily ready to fully take Taiwan by 2027.

“Clearly what they’re trying to do is salami slice their way into a new status quo,” Kahl said.

Pelosi’s visit infuriated China, which responded with test launches of ballistic missiles over Taipei for the first time, as well as by ditching some lines of dialogue with Washington, including on military and climate change issues.

Taiwan’s foreign ministry said China, which claims the self-ruled island as its own, was deliberately creating crises. It demanded Beijing “pull back from the edge.”

Kahl said the US military would carry out passages through the Taiwan Strait in the coming weeks.

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Reporting by Idrees Ali and Christopher Gallagher; Editing by Chris Gallagher, John Stonestreet and David Gregorio

Our Standards: The Thomson Reuters Trust Principles.

Idrees Ali

Thomson Reuters

National security correspondent focusing on the Pentagon in Washington DC Reports on US military activity and operations throughout the world and the impact they have. You have reported from over two dozen countries to include Iraq, Afghanistan, and much of the Middle East, Asia and Europe. From Karachi, Pakistan.

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