Oil giants deny spreading disinformation on climate change
Top executives of ExxonMobil and other oil giants have denied spreading disinformation about climate change while sparring with congressional Democrats over allegations that the industry concealed evidence about the dangers of global warming.
Democrats call oil giants to testify on climate campaign
Congressional Democrats are calling top executives at ExxonMobil and other oil giants to testify about what lawmakers say is a long-running, industry-wide campaign to spread disinformation about the role of fossil fuels in causing global warming.
'A lot of anxiety' for Democrats as Biden agenda stalls
Hopes for a big infrastructure investment are teetering. After six months of Democratic control in Washington, the party's progressive wing is growing increasingly restless as campaign promises go undone — blocked not only by Republican obstruction, but also by Democrats' own inability to unite fully around priorities. The time ahead is pivotal for President Joe Biden and his allies in Congress to seize what some view as a transformative moment to rebuild the economy and reshape the country.news.yahoo.com
Representative Ro Khanna on his proposal to limit terms of Supreme Court justices
President Biden is creating a bipartisan commission to study any potential changes to the U.S. Supreme Court. Democratic Congressman Ro Khanna of California joins CBSN's "Red and Blue" anchor Elaine Quijano to discuss some reforms on the table.cbsnews.com
A Texas-size failure, followed by a familiar Texas response: Blame California
It was tough enough for fossil fuel boosters in Texas to endure the spectacular failure of their state’s power grid, and with it all their claims of energy superiority over rival California. Now that the Texas grid failed in a much bigger and more dangerous way, fossil fuel allies are still talking about California, often leading with misleading claims. Advertisement“We will be looking at where these lies originated from to blame renewable energy,” Khanna said in an interview. Many were sparked by a photo of a helicopter deicing what was ostensibly a frozen Texas wind turbine. “The California grid sputtered for a couple of hours over the summer,” said Michael Wara, director of the climate and energy policy program at Stanford Law School.latimes.com
Congressman Ro Khanna on immigration reform, border crisis
Congressman Ro Khanna on immigration reform, border crisis President Biden is facing growing pressure as thousands of unaccompanied migrant children are held at the U.S.-Mexico border. Some progressives are criticizing his administration's handling of the crisis. Congressman Ro Khanna, a California Democrat, spoke with CBSN's Tanya Rivero about immigration reform, progressive priorities, and the situation in the Middle East.cbsnews.com
House panel seeks storm documents from Texas grid operator
As temperatures plunged and snow and ice whipped the state, much of Texas' power grid collapsed, followed by its water systems. (AP Photo/LM Otero, File)WASHINGTON – The House Oversight Committee is investigating the agency that operates the Texas power grid, seeking information and documents about the lack of preparation for the recent winter storm that caused millions of power outages and dozens of deaths across the state. AdSevere winter storms in Texas “have occurred repeatedly over decades, and ERCOT has been unprepared for them,” Khanna wrote in a letter to ERCOT CEO Bill Magness. Last month's storm followed similar winter storms in 1989 and 2011 that also caused massive outages, Khanna said. “It appears that lessons learned (again) in 2011 were not implemented either, leaving Texas vulnerable to extreme winter weather again in 2021,'' he wrote.
Silicon Valley Democrat's bill would give the IRS more money to audit millionaires, corporations
The legislation, if passed, would infuse the IRS with $70 billion between fiscal 2022 and 2031 to help the agency hire additional staff to audit individuals making more than $1 million in total income. Corporations with more than $20 billion in assets would also be prioritized for audits under the plan. Unpaid taxes, they claim, total more than all the individual income taxes paid by the lowest 90% of earners. Notwithstanding Khanna's bill, Congress has for years neglected to step in to stem the inflation-adjusted decline in IRS funding. In total, IRS funding has declined by more than 20% since 2010, factoring for inflation.cnbc.com
'You've got to have a cop on the beat': Elizabeth Warren slams SEC over GameStop chaos
Sen. Elizabeth Warren lambasted the Securities and Exchange Commission on Thursday for the regulator's failure to take action after a dayslong blitz of market speculation. "We need an SEC that has clear rules about market manipulation and then has the backbone to get in and enforce those rules," Warren said. "To have a healthy stock market, you've got to have a cop on the beat." But Warren made clear that she isn't a big fan of Robinhood, either. Robinhood announced soon after Warren's interview that it will allow a limited amount of trading in those volatile stocks on Friday.cnbc.com
Lawmakers from AOC to Ted Cruz are bashing Robinhood over its GameStop trading freeze
Robinhood announced earlier in the day that it had limited trade in GameStop and other stocks targeted by investors on the irreverent WallStreetBets Reddit forum, citing "recent volatility." "While retail trading in some cases, like on Robinhood, blocked the purchasing of GameStop, hedge funds were still allowed to trade the stock," Khanna said. Rep. Rashida Tlaib, D-Mich., a member of the Financial Services Committee, went further, calling Robinhood's move "beyond absurd" and demanding a hearing on "Robinhood's market manipulation." Rep. Maxine Waters, D-Calif., the chair of the Financial Services Committee, didn't return a request for comment. Charles Schwab said Thursday that its customers could still trade GameStop but noted that it limited certain kinds of transactions involving more risk.cnbc.com
House Dems' campaign chief a moderate who wins in Trump land
The party's House majority will be as meager as 222-213 next year, the tightest partisan gap in two decades. Maloney worked on Bill Clinton’s successful 1992 presidential campaign and joined the White House after Clinton's 1996 reelection. “Those of us in the LGBT community have seen the system work, and it has worked because we worked,” Maloney said. In 2018 he sought the House campaign committee chairmanship but withdrew when he was hospitalized for an infection. Farrell runs a consulting firm that he says was blacklisted by the campaign committee under Bustos after it helped candidates challenging Democratic incumbents.
Biden has room on health care, though limited by Congress
And just like the Trump administration, Biden is expected to aggressively wield the rule-making powers of the executive branch to address health insurance coverage and prescription drug costs. With COVID-19 surging across the country, Biden's top health care priority is whipping the federal government’s response into shape. “We’re going to work quickly with the Congress to dramatically ramp up health care protections, get Americans universal coverage, lower health care costs, as soon as humanly possible,” the president-elect said earlier this week. A factor that may work in Biden's favor is that many Republicans want to change the subject on health care. Coronavirus relief legislation could provide an early vehicle for some broader health care changes.
Progressive lawmakers call on congressional leaders to prepare for next pandemic
More than 100 Democrats in the Senate and House of Representatives, largely progressives, are calling on congressional leaders to take steps to prepare the United States for the next pandemic and mitigate racial disparities in U.S. health care. "In addition to passing a robust package to address the current crisis, we must take bold and comprehensive steps now to ensure the nation is better prepared for the next pandemic," the lawmakers wrote. The five-page letter was sent to Senate Majority Leader Mitch McConnell, R-Ky., Senate Minority Leader Chuck Schumer, D-N.Y., House Speaker Nancy Pelosi, D-Calif., and House Minority Leader Kevin McCarthy, R-Calif. Ensure the White House collaborates with international health groups and boost the government's funding to international organizations such as the World Health Organization. Bernie Sanders of Vermont, Ed Markey of Massachusetts, Cory Booker of New Jersey and Kirsten Gillibrand of New York.cnbc.com
McConnell warns White House against COVID relief deal
Congress is past the point at which it can deliver more coronavirus aid soon, with differences between House Speaker Nancy Pelosi, Senate Republicans and President Donald Trump proving insurmountable. McConnell on Tuesday told fellow Republicans that he has warned the White House not to divide Republicans by sealing a lopsided $2 trillion relief deal with House Speaker Nancy Pelosi before the election — even as he publicly said he'd slate any such agreement for a vote. said Senate GOP Whip John Thune of South Dakota. Senate Republicans are recoiling at both the size of the measure and Pelosi's demands, even as Trump is beating the drums for an agreement. But the Senate GOP bill has failed once before, and Trump himself says it's too puny.
Progressives irked by spotlight on GOP at Dem convention
In this image from video, Rep. Alexandria Ocasio-Cortez, D-N.Y., delivers a nominating speech during the second night of the Democratic National Convention on Tuesday, Aug. 18, 2020. (Democratic National Convention via AP)WASHINGTON For nearly three minutes at this week's Democratic National Convention, Cindy McCain recounted Joe Biden's friendship with her late husband, John McCain, the Arizona senator and former Republican presidential candidate. Meanwhile, Alexandria Ocasio-Cortez, one of the most dynamic young stars of the Democratic Party, spoke for just 60 seconds. California Rep. Ro Khanna, head of the California delegation to the convention, said people need to be inspired to vote. Among those who have addressed the convention is Ady Barkin, a progressive activist who after being diagnosed with A.L.S.
Pelosi asks Trump administration to protect start-ups suffering from the coronavirus crisis
House Speaker Nancy Pelosi and Rep. Ro Khanna, who represents a large part of Silicon Valley, are asking the Trump administration to protect start-ups as it carries out relief payments for small businesses under the CARES Act. The California Democrats wrote to Treasury Secretary Steven Mnuchin and Small Business Administrator Jovita Carranza on Tuesday to warn that a narrow interpretation of the relief recipients could hurt Silicon Valley companies. Khanna explained on Twitter on Saturday that even though most start-ups have fewer than 500 employees, the SBA may not view them as small businesses if they are backed by venture capital. Pelosi and Khanna wrote that Silicon Valley start-ups make vital contributions to the economy and should have access to relief provided in the bill. "Startups are the engine of America's innovation economy and our districts in California's Bay Area and Silicon Valley are home to thousands of these companies," they wrote.cnbc.com
Sanders' new tax policy raises alarms in Silicon Valley
Vermont Sen. Bernie Sanders just introduced legislation that's raising alarms in Silicon Valley. This means that instead of being taxed once they exercise their options, employees would be taxed on shares when they vest, even though they still wouldn't be liquid assets. Start-up employees are commonly offered stock options as part of their compensation packages. Engine pushed back on a similar provision in a Republican tax plan in 2017 that would have also taxed vested stock options. Here's Khanna's full statement on the tax legislation:"There are many ways to raise revenue such as a wealth tax, an employer payroll tax, ending the carried interest loophole, and repealing the Trump tax cuts that I support enthusiastically.cnbc.com
House of Representatives passes two measures limiting Trump's ability to go to war with Iran
People participate in a protest in Times Square against military conflict with Iran on January 08, 2020 in New York. The Democratic-led House of Representatives voted on Thursday to approve two measures that will constrain President Donald Trump's ability to go to war with Iran. One of the measures would block funding for any use of offensive military force in or against Iran without congressional approval. Democrats, wary of getting bogged down in a new Middle East conflict, have sought to require Trump to seek authorization for future uses of military force. "Today, Congress passed two historic pieces of legislation to reassert our authority over matters of war and peace."cnbc.com
Ex-California governor predicts state can turn around wildfire crisis in less than two years
California could turn around its wildfire crisis "in the next 18 months," said Democrat Gray Davis, governor of the state from 1999 to 2003. "But it won't happen without acknowledging everybody has some part of the blame to bear," Davis told CNBC's "Squawk Box" on Thursday, while calling for a state wildfire summit. Wildfires have been ravaging California for the past week, with current Democratic governor Gavin Newsom declaring a statewide emergency as high winds spread flames. On Thursday, the dangerous winds were expected to linger for a final day as firefighters work to tamper the flames. This week, however, PG&E has drawn widespread condemnation for staging three fire-prevention blackouts, which cut power to millions customers.cnbc.com