David Nason, a General Electric executive and former Treasury Department official, has told the White House he is no longer interested in serving as the Federal Reserve's bank supervision chief. Nason, who heads GE's Energy Financial Services division, had been seen as a leading candidate for the vice chair for supervision position, a critical role in efforts by the administration of President Donald Trump to revamp financial rules. "Mr. Nason informed the White House that he no longer wished to...
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embers of Arkansas’ Congressional delegation plan to send a letter to newly appointed U.S. Energy Secretary Rick Perry asking him to reverse the Obama Administration’s participation in the controversial Clean Line project through Arkansas. Ernest Moniz, the energy secretary under Obama, used “Section 1222” of the Congressionally-approved 2005 Energy Policy Act to green light the $2 billion, 720-mile transmission line that travels through three states to deliver wind-power generated electricity. ...
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U.S. Senators John Boozman (R-AR) and Tom Cotton (R-AR) and U.S. Representatives Rick Crawford (AR-01), French Hill (AR-02), Steve Womack (AR-03) and Bruce Westerman (AR-04) today will introduce legislation to restore the right of states to approve or disapprove of electric transmission projects before the federal government exercises its power to take private property.
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Members of the all-Republican Arkansas congressional delegation introduced legislation Monday that would effectively block construction of a new power line stretching from Oklahoma to Tennessee, potentially halting the $2 billion project. If approved, federal officials would need permission from state officials before they could approve the use of eminent domain to build an electric power transmission facility within the state. Approval would also be needed from American Indian tribes if the pro...
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S. Rep. French Hill was generally pleased with the tone and subject matter in President Donald Trump’s first State of the Union speech, but the second term Republican Congressman said he wants many more details before committing to specific programs. Hill, appearing on this week’s edition of Talk Business & Politics, said Trump’s proposals to reform immigration policy from family unification to merit-based is worth exploring. “When I think about merit-based, it’s both skilled and unskilled labor...
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House Republican lawmakers are signaling that legislation to regulate proxy advisory firms likely will be introduced this year. Rep. French Hill (R-Ark.) Feb. 28 told Bloomberg BNA that the House Financial Services Committee will take a closer look at the role of proxy advisers in the coming months. Meanwhile, Rep. Sean Duffy (R-Wis.), speaking at a U.S. Chamber of Commerce event earlier this year, said the latest version of the Financial Choice Act—legislation to roll back the Dodd-Frank Act th...
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(Sinclair Broadcast Group) — Republicans praised President Donald Trump for delivering a professional, presidential address to Congress Tuesday night, but Democrats doubt that his policies will match his more measured rhetoric. “I thought he was very presidential and I think it reassured a lot of people that they made the right choice that he is now the president of the United States,” said Rep. Jason Chaffetz, R-Utah in an interview on Capitol Hill Wednesday. Several House Republicans emphasize...
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(Sinclair Broadcast Group) — President Donald Trump broached a rarely discussed but potentially significant policy issue in his address to Congress Tuesday by calling for reform in the legal immigration system. While much of his own campaign rhetoric and the vast majority of debate on Capitol Hill have centered on illegal immigration, the president said legal immigrants are taking jobs and driving down wages for American citizens. “Nations around the world, like Canada, Australia and many others...
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Students at Beebe in national contest Beebe Junior High School is one of 10 finalists in a national science and technology competition for its design and construction of a robotic car seat to alert adults when children are left in a hot car. The Samsung Solve for Tomorrow contest is meant to encourage students and teachers to solve community problems using science, technology, engineering, arts and math. The finalists, including Beebe Junior High students under the direction of teacher Tate Rect...
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During a town-hall style meeting via telephone Monday evening, U.S. Sen. John Boozman fielded questions on health care, immigration and veterans issues. The state's senior senator spoke with constituents about Trump's immigration agenda, Republicans' plans to replace the Affordable Care Act and concerns about America's infrastructure. Boozman said there needs to be major changes to the health care system, but also said he would keep in place certain parts of the existing law, such as a ban on li...
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