News List

Order for Keystone Pipeline to Benefit Welspun Work in Little Rock 08/14/2020 Arkansas Business Welspun Tubular LLC of Little Rock announced Thursday that it has received an order from TC Energy that’s expected to keep 500 people working through at least 2021. The company did not disclose the value of the order, which was for more than 1 million feet in 36-inch line pipe for… Read more »

Federal Reserve Reveals Research Plans For Digital Dollar Forbes 08/13/2020 Federal Reserve Governor Lael Brainard provided a broad description of the Fed’s ongoing research and plans in the potential development of a U.S. central bank digital currency (CBDC), also described in the U.S. as a Digital Dollar. Brainard, who has for years led the discussion at the Fed on distributed… Read more »

WASHINGTON D.C. — Rep. French Hill (AR-02) named the Internal Revenue Service (IRS) as the latest recipient of the Golden Fleece Award for sending CARES Act Economic Impact Payments to foreign workers living in the United States and $1.4 billion to the deceased. "My office has dozens of cases open with the IRS for central Arkansans that have still not received their Economic Impact… Read more »

U.S. Rep Hill declares Benton man ‘Hometown Hero’ 08/12/2020 The Saline Courier LITTLE ROCK — U.S. Rep. French Hill has recognized a UA-Little Rock nursing student for his exceptional work on the front lines at the University of Arkansas for Medical Sciences. Aaron Baxter, of Benton, works as a nurse in the intensive care unit at UAMS. Hill recognized Baxter before the U.S.… Read more »

Lawmakers push Fed to make lending program more inclusive for mid-sized borrowers 08/12/2020 Yahoo News NEW YORK, Aug 12 (LPC) - US lawmakers are pushing the US Federal Reserve (Fed) to relax guidelines on its Main Street lending program to make it more inclusive for small and mid-size borrowers and their lenders. The program came under fire during Friday's Congressional… Read more »

Fed official defends lending program Arkansas Democrat Gazette 08/08/2020 WASHINGTON -- A top Federal Reserve official on Friday defended the central bank's efforts to start a Main Street lending program and said the small number of loans approved so far would likely expand by a significant amount in coming months, especially if the pandemic worsens. While the Fed reported this… Read more »

Overseers weigh fixes for Fed loan program Arkansas Democrat Gazette 08/08/2020 WASHINGTON -- A new federally-backed loan program for midsize businesses hasn't attracted many borrowers, members of the Congressional Oversight Commission were told Friday. As of Tuesday, the Main Street Lending Program had approved 18 loans totaling $109.5 million, according to the Federal Reserve… Read more »

Hill takes lead role in panel's hearing Arkansas Democrat Gazette 08/07/2020 WASHINGTON -- More than four months after passage of the CARES Act, the Congressional Oversight Commission charged with monitoring $500 billion in Treasury Department funds still lacks a chairman. As a result, U.S. Rep. French Hill, R-Ark., will be entrusted with the gavel when the commission holds its… Read more »

WASHINGTON D.C. — Today, Rep. French Hill (AR-02) held the gavel for the Congressional Oversight Commission's first hearing entitled, "Examining the Federal Reserve's Main Street Lending Program". The Commission heard from Eric Rosengren, President of the Federal Reserve Bank of Boston, as well as industry specialists who were familiar with the Main Street Lending… Read more »

WASHINGTON D.C. — Today, Rep. French Hill (AR-02) released the following statement after the passing of Lieutenant General Brent Scowcroft: “Martha and I witnessed General Scowcroft’s integrity, leadership, and knowledge of international affairs when we worked with him during our time in the George H.W. Bush Administration. America has lost someone who deeply loved his country… Read more »