Spectator NZ

Source: United States Senator Kevin Cramer (R-ND)

WASHINGTON – U.S. Senator Kevin Cramer (R-ND) discussed the Federal Reserve’s energy and climate role with Lael Brainard, nominee to be Vice Chair of the Federal Reserve, at a Senate Banking Committee hearing. The senator began by thanking Dr. Brainard for Wednesday’s meeting where he outlined concerns about her previous comments on the agency’s role in climate change and the Biden Administration’s effort to implement its social and climate policy agenda through the Federal Reserve. 

“I, of course, come from a state that is producing 400,000 barrels of oil less than it did before. It has a lot of capacity for more. The Bakken is cash-starved quite honestly and some of that is because of the signals they’re getting from banks and the banks are getting from others that investing in oil production is persona non grata. Now the demand is going up, the supply is being held down by both rhetoric and policy. Most of it is not your policies, but the President’s.  I worry, frankly, we want to transfer our climate guilt by suggesting that we shouldn’t produce so much in the U.S. while global demand goes up and our adversaries – who are not nearly as environmentally friendly as we are – produce. Does that matter in these climate scenarios that we may very well be hurting our own economy, our own production, our own job creation while transferring both the opportunity and the guilt to another polluting country,” said Senator Cramer.

“The question you are raising is a very big one that I don’t study in terms of energy policy. I would just say when we do supervise institutions to see that they are managing their material risks, it’s pretty pedestrian stuff. It’s ‘Do you have a risk management committee?’ I understand the concern that you are raising. But our supervisory guidance is very much around making sure those guardrails are there,” responded Dr. Brainard.  

“I want you to be really definitive about this issue. Are you in sync with Chairman Powell’s position, and he stated it a couple of times a couple of days ago? Would you say that you are in sync with his assessment of climate and where it belongs in your mandates?” asked Senator Cramer.

“Yes, I am,” answered Dr. Brainard.

“

He said that to the degree it fits within your mandates climate is one of many factors basically. He said [it’s] important, but very narrow. I’m trying to reconcile why so many of our friends on the other side of the aisle think you’re wonderful on climate, but they’re not going to support Chairman Powell for some of the same reasons,” continued Senator Cramer.  

“We do operate within our statutory mandates. We talk a lot about what those are and what those mean. So I think generally speaking those are the guardrails that we operate within. I do try to be aware of emerging risks generally. I thought it was important to develop research in the area of digital finance for instance several years ago. So I am looking out over the horizon sometimes. But we’re very in sync in terms of what we think our responsibilities as an institution are,” said Dr. Brainard.  

Background: 

Source: United States Senator for Florida Marco Rubio

Remote-only school? No COVID relief dollars for you
U.S. Senator Marco Rubio (R-FL) 
January 14, 2022
Fox News
 
Across the United States, thousands of children are being deprived of in-person education. 
 
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Schools can and should take commonsense steps to protect teachers and students, just like Florida’s schools have done. But it is clear that keeping kids out of school does more harm than good. 
 
The evidence is relatively unanimous that COVID-19 is of little risk to children and young people, and that the new omicron variant is proving to be less dangerous than previous strains. On the contrary, the data is equally consistent that the disruption associated with quarantines, social isolation, and school closures has been disastrous for our kids. 
 
The American Academy of Pediatrics recently declared a “National Emergency in Child and Adolescent Mental Health” in response to “soaring rates of depression, anxiety, trauma, loneliness, and suicidality.” Moreover, the average student is several months behind in terms of learning standards, and pandemic measures have exacerbated racial disparities in educational achievement.
 
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In light of these facts, it’s an outrage that COVID-19 relief funding is being funneled into schools that do not offer in-person instruction whatsoever…
 
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That is why I introduced the Keep Kids in Schools Act of 2022.The bill would prohibit COVID-19 relief funds from going to remote-only schools. For the sake of our children, I hope this is something my colleagues in the Senate—Republicans and Democrats alike—can agree on.
 
President Joe Biden said that “schools should remain open.” That was fine political punditry, but it’s time to back it with action. The president too should support my bill, and he should tell teachers’ unions across the nation to stand down. 
 
…
 
As terrible as the pandemic has been for adults, closures and social isolation are permanently harmful for the next generation. The adults of today cannot jeopardize America’s future in a futile effort to turn the clock back to the lockdowns of April 2020.
 
Read the rest here.

Source: United States Senator for New Hampshire Jeanne Shaheen

January 14, 2022

**Funding comes from bipartisan infrastructure law Shaheen & Hassan led & represents largest investment in bridges in American history**

(Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH) and Representatives Annie Kuster (NH-02) and Chris Pappas (NH-01) welcomed the Department of Transportation’s announcement of $225 million from the bipartisan infrastructure law dedicated for bridge repairs and replacements across New Hampshire. This funding is part of $26.5 billion heading to states over the next five years – the largest investment ever to improve the safety and performance of bridges. Shaheen and Hassan were key negotiators of the Infrastructure Investment and Jobs Act. In 2022, New Hampshire is expected to receive a first installment of $45 million.

“I’m thrilled to welcome a record $225 million from the bipartisan infrastructure deal to New Hampshire to update our bridges. No Granite Stater should ever worry about the safety of the bridges they drive across, which is why these once-in-a-generation investments are needed to update red-list bridges and crumbling infrastructure across the state,” said Senator Shaheen. “This announcement is a boon for Granite Staters, who will soon see projects underway and increased job creation in their communities. As a lead negotiator of the bipartisan infrastructure law that made possible this funding – the largest investment in fixing bridges ever – I’m excited to see these resources swiftly delivered to New Hampshire.”

“Ask any Granite Stater about their daily commute, or the wear and tear of their car, and they will tell you that our bridges, roads, and highways are long overdue for repairs,” said Senator Hassan. “That’s why I worked with a bipartisan group of Senators to make critical investment in our country’s infrastructure. Thanks to our bipartisan infrastructure law, New Hampshire will now be able to make desperately needed repairs to our bridges, which will improve the safety of our roads and make it easier for our businesses to transport goods. I look forward to seeing how this funding will revitalize our bridges and in turn, strengthen our entire economy.”

“New Hampshire’s bridges represent more than just a way to get from point A to point B, they are a critical component of our state’s economy and economic competitiveness,” said Rep. Kuster. “That’s why I was proud to secure funding for New Hampshire bridges in the Bipartisan Infrastructure Law, which will deliver more than $225 million to preserve and upgrade our historic bridges for public use. I look forward to seeing the impact of these funds on our communities and will continue working to deliver critical support to the Granite State.”

“Smart investments in our roads and bridges are crucial to building a better future for New Hampshire’s workers, small businesses, and families,” said Rep. Pappas. “We have over 215 bridges that are in poor condition, and many of those need immediate attention. These federal funds will create new good-paying jobs all across our state, ensure the safety of our infrastructure, and save Granite Staters time and money by decreasing traffic and vehicle wear and tear.”

Shaheen was a lead negotiator of the historic infrastructure bill, leading provisions on broadband and water infrastructure. In June, Shaheen joined President Biden and a bipartisan group of Senators to announce the framework of the package. Shaheen joined members of the bipartisan group on the Senate floor to unveil bill text of the legislation in August. One of the 22 Senators who negotiated the Bipartisan Infrastructure Law, Senator Hassan lead key provisions that address coastal resiliency, high-speed internet expansion, passenger rail and cybersecurity. This package will provide a significant investment in our nation’s core infrastructure priorities – including roads and bridges, rail, transit, ports, airports, the electric grid, water systems and broadband. Senator Shaheen has also long fought to bring federal dollars back to New Hampshire to invest in critical transportation and infrastructure projects to fix Granite State roads, rail, bridges and ports. Last year, Shaheen reintroduced legislation, the Strengthen and Fortify Existing (SAFE) Bridges Act, to begin to address structurally deficient bridges across the country. 

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Source: United States Senator for Maryland Chris Van Hollen

Source: United States Senator for Michigan Debbie Stabenow

Source: United States Senator Jacky Rosen (D-NV)

WASHINGTON, DC – Today, U.S. Senators Jacky Rosen (D-NV) and Catherine Cortez Masto (D-NV) announced that Nevada will receive $45 million from the bipartisan Infrastructure Investment and Jobs Act, which the Senators helped pass, to improve bridges across the state. There are nearly 30 bridges in Nevada considered in “poor condition” and this funding will be allocated to projects across the state to repair and modernize dozens of bridges, while supporting good-paying construction jobs. 

“Thanks to the Bipartisan Infrastructure Law that I helped write and pass, Nevada is receiving $45 million to fix and update our bridges – nearly thirty of which are deemed structurally deficient,” said Senator Rosen. “This funding will make needed improvements in our state while creating jobs, and it’s a reminder of what we can accomplish when we work in a bipartisan way.” 

“This funding I secured through the bipartisan infrastructure law will create jobs and help Nevada make improvements and repairs to our critical bridges across the state,” said Senator Cortez Masto. “The safety of Nevadans is my top priority, and these investments will make our roads and bridges safer and more resilient to strengthen our economic future.”  

This funding from the Federal Highway Administration is the largest investment in bridges in American history. Nevada will receive a total of $45 million under the new program to address highway bridge needs. The funding is available to improve the vital bridges in the state, including 28 deemed structurally deficient, to ensure they are maintained at a safe and efficient level.

Senators Rosen and Cortez Masto secured multiple transportation provisions in the bipartisan infrastructure bill to help Nevada communities make even more improvements to their roads and bridges, plan for and build electric vehicle infrastructure, make transit to school safer for students, and support smart cities that use technology to solve transportation challenges.

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Source: United States Senator for Michigan Gary Peters

Source: United States Senator for Arkansas Tom Cotton

FOR IMMEDIATE RELEASE
Contact: James Arnold or Mary Collins Atkinson (202) 224-2353
January 14, 2022 

Cotton, Kelly Introduce Bill to End Reliance on China for Rare-Earth Elements

Washington, D.C. — Senators Tom Cotton (R-Arkansas) and Mark Kelly (D-Arizona) today introduced the Restoring Essential Energy and Security Holdings Onshore for Rare Earths (REEShore) Act to protect America from the threat of rare-earth element supply disruptions, encourage domestic production of those elements, and reduce our reliance on China. Text of the bill may be found here.

“The Chinese Communist Party has a chokehold on global rare-earth element supplies, which are used in everything from batteries to fighter jets. Ending America’s dependence on the CCP for extraction and processing of these elements is critical to winning the strategic competition against China and protecting our national security,” said Cotton.

“As a 25-year Navy veteran who served in the South China Sea, I know just how critical it is to invest in our nation’s defense and technology capabilities. Our bipartisan bill will strengthen America’s position as a global leader in technology by reducing our country’s reliance on adversaries like China for rare earth elements,” said Kelly.

The REEShore Act Would:

• Create a Strategic Reserve of Rare-Earth Elements: Require the Departments of Defense and the Interior to create a strategic reserve of rare-earth elements and products by 2025. The reserve must meet the needs of the U.S. military, defense industrial and technology sectors, and other critical infrastructure for one year in the event of a supply disruption.
• Require Country of Origin Disclosure: Require Department of Defense contractors to track and disclose the origins of rare-earth magnets used in systems that it delivers to the U.S. military.
• Restrict Use of Chinese Rare-Earth Metals in Advanced Defense Technology: Prohibit Chinese rare-earth metals from being used in sensitive Department of Defense systems by 2026.
• Investigate China’s Unfair Trade Practices: Require the Office of the U.S. Trade Representative and Department of Commerce to submit a report to Congress on China’s unfair trade practices in the rare-earth metal market, with potential tariffs to follow. 

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