Category: US Senate

Source: United States Senator for New Jersey Bob Menendez

WASHINGTON, D.C. – U.S. Senators Bob Menendez (D-N.J.) and Kevin Cramer (R-N.D.) today reintroduced the bipartisan Payment Choice Act to ensure customers have the freedom to choose how they pay for goods and services. With the increased use of electronic and contactless methods of payment and many businesses refusing cash, consumers without access to financial services are finding it harder to participate in the economy. The bipartisan legislation would prohibit retail businesses from refusing to accept cash as a form of payment and prevent them from charging a higher price for using cash instead of other forms of payment.

The Senate version of the Payment Choice Act is a companion bill to H.R. 4128 introduced in the House of Representatives by Congressmen Donald Payne, Jr. (D-N.J.-10) and John Rose (R-Tenn.-06).

“While electronic payments have grown in popularity and are for many a convenient form of payment, completely refusing cash denies people, frequently in underserved communities, from having equal access to participate in our economy,” said Sen. Menendez. “This bipartisan, commonsense legislation would ensure that everyone who carries legal tender printed and backed by the U.S. Treasury, and especially those who are unbanked or underbanked, can continue to fully participate in the economy.”

“Cold hard cash is still legal tender in the United States, despite some businesses’ exclusive acceptance of electronic payments,” said Sen. Cramer. “Imposing premium prices on goods and services paid for with cash or forcing the use of credit and debit cards limits consumer choice and is just plain wrong. Americans should have the option of using plastic, but they should be the ones who make that choice, not businesses.”

“Every American should have the right to pay in cash,” said Rep. Donald M. Payne, Jr.  “There are too many stores and businesses that want to reject it in favor of digital payments.  But cash is the only option available for millions of Americans to pay for food, housing and other essentials.  In addition, I am concerned about the safety and privacy of the data that companies are collecting from consumers during routine purchases.  Besides, American cash is a lesson in American history.  A few years ago, we fought over who should be represented on our currency.  Now, companies want to eliminate currency completely.”   

“The Payment Choice Act is critical for the millions of Americans that lack access to financial services and prefer the privacy cash preserves,” said Rep. Rose. “Whether in our major cities or rural America, businesses nationwide should not be allowed to refuse legal tender. The Payment Choice Act will end this un-American practice and restore Americans’ right to choose how they participate in our economy. I am pleased to co-lead this effort in the House to pass this commonsense legislation.”

While the majority of American households have access to all or some financial services, 4.5 percent of U.S. households are unbanked, meaning they don’t have a checking or savings account. Unbanked and underbanked consumers are more likely to have lower incomes, less education, or be a member of a racial or ethnic minority group.

Despite a decline in cash payments during the past few years, they represent nearly 20 percent of all payments in the U.S. economy according to a recent study.

In 2019, the State of New Jersey enacted S. 2785, a state law that makes it illegal for businesses to refuse cash as a payment option. A similar law has existed in Massachusetts since 1978.

The Consumer Choice in Payment Coalition (CCPC), a broad-based group of consumer advocates, businesses, and nonprofit organizations supports both bills.

“We believe it is critical to ensure that cash remains a universally available payment option for consumers throughout the nation,” said Ruth Susswein, of Consumer Action – a national advocacy group and a member of the Coalition. “Noncash transactions generate vast amounts of data, recording the time, date, location, amount, and subject of each consumer’s purchase, which are available to digital marketers and advertisers who are engaged in developing and refining increasingly sophisticated techniques to identify and target potential customers.”

“The hardworking men and women of America’s retail ATM industry, who make widespread convenient access to cash a daily reality for consumers throughout our nation, want to thank and applaud Senators Menendez and Cramer and Representatives Rose and Payne for their ongoing leadership in reintroducing the Payment Choice Act,” said Bruce Renard, Executive Director of The National ATM Council, Inc.  “With the US dollar under attack as the world’s leading currency, it is more important than ever for our country to ensure cash continues fulfilling its essential role as legal tender here at home throughout the USA. The option for consumers to pay with cash for basic goods and services is an important economic right we must preserve for all Americans, including our most vulnerable citizens. Accepting cash as a payment option is not too much to ask of all the retail establishments blessed with the opportunity to do business in the greatest marketplace on earth.”

For a copy of the legislative text click HERE.

Source: United States Senator for Massachusetts Ed Markey

Source: United States Senator for Massachusetts Ed Markey

Source: United States Senator for Washington Maria Cantwell

06.15.23

SeatGeek & Live Nation Agree to Disclose Full Ticket Costs Upfront Following Cantwell’s TICKET Act Introduction

President Biden announces concert giants will no longer hide fees for concert & sporting event tickets; Cantwell’s TICKET Act would ban hidden fees industrywide

WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), Chair of the Senate Committee on Commerce, Science, and Transportation, heralded President Biden’s announcement that major ticket sellers SeatGeek and Ticketmaster parent company Live Nation have pledged to disclose the full cost of event tickets upfront – including fees – after the senator introduced a bill to require such transparency on behalf of consumers.

In April, Sen. Cantwell joined Commerce Committee ranking member Sen. Ted Cruz (R-TX) in introducing the Transparency in Charges for Key Events Ticketing Act which would require all event ticket sellers to display the total ticket price in all advertising upfront. Sellers would also need to show potential buyers the ticket’s base cost along with an itemized list of fees prior to selection of a ticket. The bill would additionally require sellers to disclose if a ticket being offered for sale is not within the seller’s possession.

During a committee hearing on June 12, Sen. Cantwell called for a crackdown on junk fees, including those imposed on event tickets.

“The price they say really should be the price you pay,” said Sen. Cantwell at the hearing. “The bottom line is we can’t make comparison shopping harder. We can’t reduce competition. And we don’t want to see things that distort the market.”

Last month, ahead of the third game in the National Hockey League playoffs between the Seattle Kraken and the Dallas Stars, KIRO 7 reported that hidden fees drove up the price of game tickets so high, it would cost more to actually attend the game in Seattle than it would to fly from Seattle to Dallas on Alaska Airlines and attend a game there.

“At the time, KIRO 7 reported that the cheapest re-sale ticket available was $294. Or, at least, that’s the price the ticket platform would have you think. After a $61 ticket processing fee and a $3 order processing fee, the real price of the ticket, before tax, was $358 — an extra 22% on top of the advertised price,”  Sen. Cantwell said at the June 12 hearing.

Studies from the New York Attorney General’s office and the Government Accountability Office (GAO) show that surprise fees can contribute anywhere from 21% to as much as 58% of the total cost of tickets.  In reviewing the secondary ticket selling market, GAO also found that “speculative ticketing” – in which a seller is not actually in possession of the ticket—can cause confusion for consumers especially when the consumer is not aware that they are buying from a seller who does not have possession of the ticket at the time of sale.

The TICKET Act requires all event ticket sellers, including primary and secondary market event ticket sellers to:

• Display the total ticket price (including all required fees) in any advertisement, marketing, or price list.
• Disclose to consumers the total ticket price (including all fees), including an itemized list of base ticket price and each ticket fee, at the beginning of a transaction and prior to selection of the ticket.
• Disclose to consumers if a ticket being offered for sale is a speculative ticket where the seller does not have actual or constructive possession of the ticket.

The full text of the legislation is available HERE.

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Source: United States Senator for Indiana Todd Young

Source: United States Senator for Indiana Todd Young

Source: United States Senator Marsha Blackburn (R-Tenn)

WASHINGTON, D.C. – U.S. Senators Marsha Blackburn (Tenn.), Cynthia Lummis (Wyo.), and Tommy Tuberville (Ala.) introduced legislation to protect the intellectual property of American life sciences innovators from falling into the hands of foreign adversaries like Communist China.

On June 22, 2022, the World Trade Organization (WTO) approved a Trade-Related Aspects of Intellectual Property (TRIPS) waiver for COVID-19 vaccine patents. The compromise allows developing countries with low vaccine exports to use patented vaccine formulas without the intellectual property owner’s approval. The Office of the United States Trade Representative (USTR) claims that a waiver would promote greater global production and access to vaccines, but the impact on overall vaccine access has been minimal at best.

The WTO is currently considering expanding the TRIPS waiver to COVID-19 diagnostics and therapeutics.

The No Free TRIPS Act would prohibit the Biden administration from negotiating or affirming any withdrawal, suspension, waiver, or modifications to the World Trade Organization (WTO) TRIPS agreement, without explicit authorization from Congress.

“American life sciences companies engage in critical research and development, and it is essential that we protect their intellectual property rights,” said Senator Blackburn. “During the COVID pandemic, the private sector answered the call and moved swiftly to develop world-class, life-saving vaccines, diagnostics, and therapeutics. Expanding the World Trade Organization’s TRIPS waiver to COVID-19 therapeutics and diagnostics would undermine the intellectual property protections that made these biomedical advances possible and will disincentivize these companies from acting in the event of another public health emergency. It is important to protect technology developed by our robust private sector from falling into the hands of foreign adversaries like Communist China that are actively working to steal American IP at the expense of U.S. companies. This bill would establish an important check against the Biden administration’s ability to suspend these protections without congressional authorization.”

“The United States produces some of the most advanced medical technology in the world. We should protect our advantages when it comes to the developments we have made in those technologies. Now, more than ever, our focus should be on defending intellectual property rights while also incentivizing the development of other life-saving treatments to provide to other nations. I am proud to join Senator Blackburn to reintroduce this legislation,” said Senator Lummis.

“The power of American ingenuity has produced life-saving pharmaceuticals and medical technology for decades,” said Senator Tuberville. “Those scientific breakthroughs were made possible by American investments, experts, and companies. Those private companies have a right to protect their intellectual property, especially from bad actors like China and Russia. We cannot keep our place as the world’s leading medical innovator if the government purposely drives the industry out of business.”

BACKGROUND:

• Expanding the TRIPS waiver to diagnostics and therapeutics will disincentivize the creation of new COVID-19 tests and treatments.
• As of the end of 2022, no country has declared intent to utilize the waiver. Waiving private US companies’ IP rights not only allows countries to freeload off US private investment for their own commercial products, it undermines American innovation and domestic investment into biopharmaceutical research and development.
• If a developing country decided to utilize the waiver, it is likely this technology would then be transferred to adversaries like Russia and China.
• In December, the USTR asked for an extension on the WTO’s decision on the expansion of the waiver to COVID-19 diagnostics and therapeutics and asked the United States International Trade Commission (USITC) to conduct a factfinding investigation to inform consideration of whether to extend the TRIPS flexibilities to diagnostics and therapeutics, which is currently underway.
• The USITC anticipates completing and submitting its report to the USTR on October 17, 2023.

The bill text is available here.

Source: United States Senator for South Dakota John Thune

Click here to watch the video.
WASHINGTON — U.S. Sen. John Thune (R-S.D.) today spoke on the Senate floor about the threat that China poses to the United States and the importance of putting America in a position of strength to be able to counter China. Thune noted that we must strengthen our national security and economy to compete with China and ensure that any China initiative doesn’t become a vehicle for more spending on far-left policies.
Thune’s remarks below (as prepared for delivery):
“Mr. President, the threat that China poses is widely recognized.
 
“Recent events have laid bare the Chinese Communist Party’s interest in spying on Americans.
 
“The Chinese military has grown more aggressive in the Indo-Pacific, especially toward Taiwan.
 
“And China is aligning itself with other adversaries like Russia, whose war against Ukraine China has helped support.
 
“We need to make the right decisions now to ensure that the United States is able to counter China from a position of strength.
 
“Which brings me to the majority leader’s current China proposal.
 
“Last month, the Democrat leader launched an initiative Democrats are calling ‘China Competition Bill 2.0.’
 
“And while his proposal has some laudable goals, a lot of Republicans are rightly skeptical of this initiative.
 
“Leader Schumer’s last China initiative massively ballooned in cost.
“And now it’s being implemented by the Biden administration as a vehicle for advancing progressive policies.
 
“And I am not alone in fearing that Democrats’ latest initiative will turn out to be just more of the same. 
 
“Mr. President, if Democrats are serious about competing with China, one thing they should be doing is making passage of a robust National Defense Authorization Act a priority.
 
“Unfortunately, the NDAA has not exactly been a priority for the Democrat leader over the past two years.   
 
“In fact, last year, Senator Schumer refused to bring the bipartisan Senate Armed Services Committee-passed bill to the floor.
 
“This critical legislation was allowed to languish for months before a negotiated bill with the House and the Senate finally passed in December.
 
“Our national security should not be an eleventh-hour concern.
 
“I’m encouraged that the Senate markup of the NDAA is occurring next week and that the majority leader is inclined to bring it to the floor in July.
 
“And I hope that holds.
 
“Mr. President, China has made investment in its military a priority.
 
“Over the last 10 years, China’s defense budget has doubled. 
 
“And this year, it will increase by more than 7 percent for the second year in a row – not counting any additional defense funding that China hides.
 
“So it should come as no surprise that China is outpacing our military in modern capabilities like hypersonic missiles and has amassed a larger navy.
 
“Recent U.S. war games positing a U.S.-China conflict following an attack on Taiwan have had grim results, showing enormous military and economic costs on both sides.
 
“These war games also made clear that the United States would run through its inventory of munitions, especially for long-range strike, in a matter of weeks, blunting our ability to sustain a protracted conflict.
 
“Mr. President, the United States, along with our allies and partners, needs to maintain a credible deterrence to ensure that the cost is prohibitively high – and the odds of success are extremely slim – for China to attack across the Taiwan Strait or further attempt to assert any absolute control within the so-called First Island Chain.
 
“And to do that we have work to do on boosting our military’s resources and readiness. 
 
“And at the very least that starts with taking up each year’s defense authorization and appropriations bills in a timely fashion. 
 
“Besides building up our military, Mr. President, one of the best ways to ensure our competitiveness with China is to strengthen American industry so we continue to lead in the breakthroughs, innovations, and advanced technologies that will define the future.
 
“And how we attempt to do that matters.
 
“The president and Democrats in Congress have shown their preference for heavy-handed and often costly industrial policy that bestows taxpayer-funded subsidies on select industries.
 
“And it would be wise to ask where this will put us in the next five, 10, and 20 years.
 
“Will it stifle innovation in our most important engines of growth?
 
“What will be the result of government picking winners and losers?
 
“Will small businesses and new enterprises be able to compete with large, established, and government-subsidized firms?
 
“The way the Biden administration has so far been implementing its subsidy programs makes me suspect that we are well on our way to having government bureaucrats play an outsized role in our economy – with correspondingly negative effects.  
 
“Look no further than the strings that the Commerce Department has attached to funding for semiconductor manufacturers.
 
“The department is giving preference to companies using union workers and in some cases conditioning funding on companies’ offering employee benefits that align with the Biden administration’s agenda.
 
“It’s the opposite of creating a level playing field.
 
“Mr. President, America succeeds when innovators and entrepreneurs are empowered to do what they do best – and government steps out of the way.
 
“Government should be focused not on heavy-handed regulation or picking winners and losers, but on creating the conditions in which all businesses, large and small, can thrive. 
 
“Republicans have shown how pro-growth policies like this lead to greater investment, more opportunities for workers, and a stronger economy for all.
 
“Take our 2017 tax reform legislation.
 
“The Tax Cuts and Jobs Act lowered tax rates for owners of small and medium-sized businesses, farms, and ranches and made it easier for them to recover the cost of investing in their businesses – which in turn freed up cash for them to invest in their operations and their workers.
 
“It lowered our country’s sky-high corporate tax rate to make American businesses more competitive in the global economy. 
 
“And it brought our international tax system into the 21st century so that American businesses no longer operated at a disadvantage next to their foreign counterparts.
 
“And it worked.
 
“In the wake of the Tax Cuts and Jobs Act, incomes grew.
 
“Unemployment fell to a 50-year low.
 
“The income gap narrowed.
 
“And the list goes on.
 
“Business investment increased.
 
“Inversions – tax-speak for companies moving their headquarters overseas – stopped. 
 
“Companies created new jobs and invested in their employees.
 
“And they opened new opportunities for American workers by moving production and capital into the United States and bringing substantially more than a trillion in offshore funds home.
 
“And one major thing we could do to help boost our economy and increase our competitiveness with China is to extend expiring provisions of the Tax Cuts and Jobs Act to give certainty to American businesses and entrepreneurs – and, in Democrats’ case, commit to not repealing key Tax Cuts and Jobs Act provisions.  
 
“In the defense space, we can enhance this certainty for businesses by authorizing more multi-year acquisition contracts for key munitions like those used by the B-1 bomber – something that would both enhance economic growth and strengthen our nation’s defense.
 
“Mr. President, we also need to resume a real and robust trade policy.
 
“For the last two and a half years, the Biden administration has put trade on the back burner to the detriment of our economy and our place in the world.
 
“Trade opens new jobs and opportunities for American workers.
 
“It helps businesses and agriculture producers access new markets, which grows our economy.
 
“And it provides an opportunity to develop important strategic relationships, foster ties with our allies, and advance U.S. priorities abroad.
 
“Under the Biden administration, the U.S. has been essentially inactive on trade.
 
“But the rest of the world has not.
 
“China, for one, is currently negotiating or implementing a number of new trade agreements, adding to its already large portfolio of trading partners.
 
“These agreements aren’t just economically advantageous; they’re allowing China to build sometimes predatory relationships that serve to expand its sphere of influence.
 
“And one of the most important things we can do to ensure that our country remains competitive with China is to reengage on the trade front and get to work on trade deals that expand market access and strengthen our relationships with other countries, particularly those that neighbor China.
 
“Mr. President, there are a number of other steps we can take to boost our competitiveness with China.
 
“Things like unleashing American energy production to increase our energy security and boost American industry.
 
“Developing critical mineral resources here at home, instead of relying on China for so much of our critical mineral supply.
 
“Expanding our own security and technological partnerships so we have a more agile and resilient supply chain.
 
“And more.
 
“And if the Democrat leader is serious about improving our competitiveness with China, and not just funding progressive priorities, these are the kinds of things he should focus on for his bill. 
 
“Mr. President, there is no question in my mind that the United States can successfully compete with – and deter aggression from – China. 
 
“But to do that, we have to make sure that we are doing the right things to build up our military and ensure that American industry can thrive.
 
“And I hope that as we move forward, we will make securing our competitiveness with China a priority – and ensure that any China initiative does not simply become a vehicle for more spending on progressive fantasies.
 
“Mr. President, I yield the floor.”