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Texas school official resigns following undercover video on transgender athlete policy – Straight Arrow News
In a recent turn of events, a Texas school official has resigned following the release of an undercover video exposing the school’s controversial transgender athlete policy. The video, which was secretly recorded by a concerned parent, shows school officials discussing their discriminatory guidelines for transgender students participating in sports.The official, who has not been named publicly, was caught on camera making derogatory remarks about transgender athletes and outlining a strict policy that would prevent them from competing in sports based on their gender identity. The video has sparked outrage among the community and has led to calls for the official’s resignation.
In a statement released by the school district, they have condemned the official’s actions and have announced that they will be conducting a thorough investigation into the matter. They have also stated that they are committed to creating a safe and inclusive environment for all students, regardless of their gender identity.
This incident serves as a stark reminder of the challenges that transgender individuals face in our society, particularly in the realm of sports. It is crucial that we continue to advocate for equality and acceptance for all individuals, regardless of their gender identity.
As more details emerge from this investigation, it is clear that there is still much work to be done to ensure that all students feel safe and supported in their schools. We must continue to fight against discrimination and prejudice in all its forms, and strive to create a more inclusive and welcoming environment for everyone.
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Texas school official resigns, transgender athlete policy, undercover video, Texas school, resigns, transgender policy, Straight Arrow News
#Texas #school #official #resigns #undercover #video #transgender #athlete #policy #Straight #Arrow #News2025 Republican Policy Proposals: Immigration, Taxes and More
A document being circulated by the House Budget Committee outlines an ambitious Republican agenda to lower taxes, roll back green energy initiatives, reduce federal spending on health care, trim the safety net and limit federal support for higher education. It contains more than 200 items, with a heavy emphasis on spending cuts that could help pay for extending tax cuts.
Not everything on this list will become law — or even come up for a vote. Congressional Republicans are negotiating over the menu, and there are items certain to prove divisive among their members. They may also be limited by budget rules: Because they hope to pass most of their agenda through a so-called reconciliation process that will not require any Democratic votes in the Senate, only certain types of legislation can qualify. This week the White House also ordered a pause to funding for some of the programs Republicans are scrutinizing, though the effort was temporarily blocked by a judge.
But even with so much uncertainty, the document provides an unusually detailed look at the ideas being considered and provides some hints about what policies may come next.
Some important caveats:
• Be wary of the numbers. Some of the estimates are outdated; others come from analysts outside of government. Some haven’t been measured by anyone yet. Before anything becomes law, it will get a score — a formal cost estimate — from the Congressional Budget Office.
• Don’t add them up. Many provisions will interact with one another, meaning that if one were to pass, it could change the cost of another. This is particularly true of the Medicaid provisions, which would yield far less in budget savings than it appears if they were all adopted.
• There’s some repetition. The list compiles ideas from numerous House committees, and some have similar or even conflicting proposals.
Medicaid
Republicans are considering numerous options to reshape Medicaid, the country’s largest health insurance program, which covers 72 million poor and disabled Americans.
The largest proposal would limit the amount of federal payments to a flat fee for each enrolled person (instead of having the federal and state governments split the medical costs of beneficiaries).
Nearly all of those changes would reduce funding to state governments, and many are likely to be opposed by governors from both parties.
Medicaid per-capita caps
Limit the amount the federal governement pays to states for each Medicaid beneficiary.
$900 bil. savings
What to know Republicans included a similar policy in their unsuccessful efforts to repeal Obamacare in 2017. It would represent a huge cut for state governments, and is likely to be opposed by governors from both parties.
Equalize Medicaid match rate
Pay states a smaller percentage of bills for beneficiaries who became eligible through the Affordable Care Act.
$561 bil. savings
What to know Many of these policies would interact with one another, so adding together their savings is misleading.
Lower Medicaid matching floor
Pay states a smaller percentage of medical bills for beneficiaries in wealthier states.
$387 bil. savings
Limit Medicaid provider taxes
Restrict a technique that states use to earn more federal dollars for Medicaid.
$175 bil. savings
Repeal Biden Medicaid eligibility rule
Allow states to check eligibility more often, require more paperwork, and require in-person interviews.
$164 bil. savings
Reverse a rule for home-based care
The rule requires that 80 percent of payments made to home health agencies go to the workers themselves.
$121 bil. savings
Establish Medicaid work requirements
$100 bil. savings
Split Medicaid administrative fees with states
Make all such fees a 50-50 split, lowering federal payments for some.
$69 bil. savings
Reduce state-directed Medicaid payments
Cut a category of direct federal payments to state Medicaid programs.
$25 bil. savings
Repeal nursing home minimum staffing rule
$22 bil. savings
Taxes and trade
Chief among congressional Republicans’ priorities is an extension of the 2017 tax law, most of which is set to expire at the end of the year. A full extension is projected to cost about $4.6 trillion over the next 10 years by renewing tax rate cuts for individuals. Any other costs listed below would be on top of that amount.
The range of options includes several broad changes likely to be controversial, including a proposal to end the tax deduction for mortgage interest and another to eliminate the deduction for state and local taxes. But the more targeted options will generate far less revenue. It also includes several small tax changes, like requiring companies to pay tax for meals they provide to workers.
10 percent across-the-board tariff
On all imports
$1,900 bil. savings
What to know Many Republicans do not share Mr. Trump’s desire to enact new tariffs. Others have explored the possibility of passing them into law, though the president has the authority to implement them unilaterally.
Border adjustment tax
Destination-based tax on imports
$1,200 bil. savings
What to know Many economists like the idea, but a 2017 effort to pass a similar plan failed after companies opposed it.
Repeal SALT deduction
Eliminate the individual and business state and local tax deduction.
$1,000 bil. savings
What to know The document includes several conflicting approaches to this tax. This option is favored by some Republicans but would be a nonstarter for many others who represent high-tax states.
Eliminate the mortgage interest deduction
For primary homes
$1,000 bil. savings
What to know A repeal of this highly popular deduction would be unlikely to survive opposition from homeowners, lobbyists and some Republicans.
Eliminate income taxes on overtime
$750 bil. cost
What to know President Trump floated this option during his campaign.
Lower the corporate tax rate to 15 percent
The 2017 tax cuts lowered the corporate tax rate to 21 percent from 35 percent.
$522 bil. cost
What to know Mr. Trump has proposed this, but some Republicans worry that adding the expensive provision could endanger the overall legislation’s prospects.
Set a higher SALT deduction cap
Cap at $30,000 for married couples. The current cap, which is set to expire, is $10,000 per household.
$500 bil. cost
What to know Several blue-state Republicans are pushing for this increase, which President Trump says he supports.
Eliminate the estate tax
Estates less than $14 million are currently exempt, but that level is set to drop to $7 million next year.
$370 bil. cost
Repeal SALT deduction for businesses
$310 bil. savings
Limit SALT deduction to property taxes
With no cap
$300 bil. cost
Higher education
Numerous policies would target spending on higher education, like proposals to tax university endowments, cancel and tighten student loan programs, and reduce spending on hospitals that train medical residents. Some of the policies that would affect higher education are found in other categories, like the tax code or health care.
Change student loan repayment plans
Including elimination of Biden administration SAVE plan
$127.3 bil. savings
What to know One plan that would be cut, the SAVE plan created by the Biden administration, is on pause after legal challenges from states.
Limit Education Dept. regulatory authority
$30 bil. savings
Require payments from colleges
Require contributions to a grant program to participate in student loan programs
$18.1 bil. savings
Limit ability of students to discharge loans
In misconduct cases
$9.7 bil. savings
Limit ability of students to discharge loans
In cases where schools have closed
$4.9 bil. savings
Eliminate interest capitalization
For federal student loans
$3.8 bil. cost
Repeal 90/10 rule
Requirement that for-profit schools receive no more than 90 percent of their revenue from federal aid
$1.6 bil. cost
Allow students to rehabilitate loans twice
Currently, borrowers can rehabilitate loans once
$0.138 bil. cost
Reform standards for programs to participate in federal student aid
Expanding the gainful employment standard, for example
Unknown
Reform Public Service Loan Forgiveness
Including limiting eligibility
Unknown
What to know Mr. Trump proposed eliminating this program in his 2021 budget during his first term.
Immigration
Republicans in Congress have prioritized passing wide-ranging laws to limit immigration early in President Trump’s term. The items below are a sampling of what could be part of such a plan.
Many of those favored immigration policies would cost, rather than save, money. But there are also proposals that would generate revenue, like increasing fees for customs, airport screening and those charged to immigrants themselves.
Border wall funding
The document provides committee cost estimates for 734 miles of new wall, replacement barriers and additional barriers.
$35.8 bil. cost
Extend and increase customs fees
$25 bil. savings
Expand T.S.A. security passenger fees
$24.7 bil. savings
Increase immigration fees
$20 bil. savings
What to know The document says the House Judiciary Committee “is open to dialing up any and all immigration-related fees in their jurisdiction to hit a desired reconciliation target.”
Reinstate public charge rule
Limit green cards or visa eligibility for immigrants who are likely to need public assistance
$15 bil. savings
What to know The first Trump administration tried to impose this policy with regulation, but was thwarted by courts. Legislation would settle the issue.
Reimburse states for border security initiatives
The provision has not been scored, but an estimated range of $11 billion to $13 billion was provided.
$13 bil. cost
What to know The document says that this option “would focus on reimbursing Texas for Operation Lone Star and Stonegarden” but that it would “need to be written broadly” to comply with reconciliation rules.
Hire more border security personnel
The provision has not been scored, but the committee provided an estimate.
$12.7 bil. cost
Extend T.S.A. security passenger fees
$11.8 bil. savings
The Secure the Border Act
Border security funding and immigration restrictions
$6.1 bil. cost
What to know The House passed this sweeping bill in 2023.
Eliminate the Diversity Immigrant Visa program
For immigrants from countries with low immigration rates, sometimes called the green card “lottery”
$3.2 bil. savings
Improve technology at the border
The provision has not been scored, but the committee provided an estimate.
$2 bil. cost
Destroy invasive plants
Plants that grow along the Southwest border that “hinder detection of illicit activity.”
$0.25 bil. cost
Anti-poverty programs
Many of these options are aimed at scaling back food benefits provided through the Supplemental Nutrition Assistance Program (SNAP). The program expanded significantly during the pandemic, and the Biden administration enacted a lasting increase in benefits in 2021.
Cut food benefits
Reverse re-evaluation of the Thrifty Food Plan, which increased SNAP benefits
$274 bil. savings
What to know Republicans have criticized the Biden administration for changing the formula used to calculate benefits, which led to significant increases.
Eliminate Social Services Block Grant
$15 bil. savings
What to know This is one of several proposals that would cut federal funding to states.
Reduce TANF by 10 percent
Scale down the block grant that finances Temporary Assistance for Needy Families.
$15 bil. savings
Restrict SNAP eligibility
End states’ ability to raise the eligibility for food assistance.
$10 bil. savings
What to know This option was a target of Mr. Trump during his first administration.
Stricter school meal requirements
Require income documentation to access free meals
$9 bil. savings
End link between SNAP and energy program
“Heat and Eat” program results in higher SNAP benefits
$7 bil. savings
Eliminate TANF contingency fund
Remove additional funding to states experiencing hardship
$6 bil. savings
Use the chained C.P.I.-U for poverty programs
The more conservative inflation measure would result in fewer families considered poor
$5 bil. savings
Sliding scale for S.S.I. benefits
This change would reduce supplemental security income payments to large families.
$5 bil. savings
Expand SNAP work requirements
$5 bil. savings
Energy
There are proposals to reverse all the green energy tax credits enacted during the Biden administration, and several smaller proposals to end individual programs. The document acknowledges that full repeal may not be popular and notes that scaled-down options are available “based on political will.”
Other proposals would expand leases of federal lands for drilling and mining, and ease regulations on facilities that ship fuels overseas or across the country in pipelines.
Repeal all green energy tax credits
Credits created and expanded in the Inflation Reduction Act.
$796 bil. savings
What to know This option includes full repeal of all the new tax credits and other regulatory changes. Some of the options below would eliminate narrower sets of these provisions. The effects of some of these programs in Republican districts mean that full repeal may not be politically viable.
Repeal some green energy tax credits
Includes programs to encourage nuclear energy and electric vehicles.
$404.7 bil. savings
Repeal E.P.A. rules on pollution from cars
Biden administration rules requiring reductions in car tailpipe emissions and increases in fuel efficiency
$111.3 bil. savings
What to know President Trump has signed an executive order promising to repeal these rules through the regulatory process. That would achieve the same policy outcome, but it would prevent Congress from claiming the budgetary savings.
Close electric vehicle credit leasing loophole
$50 bil. savings
Repeal other green energy tax credits
Includes credits for making buildings and homes more energy efficient
$17.3 bil. savings
Speed up permitting for drilling and mining
$7.5 bil. savings
What to know These provisions passed the House last year as part of a larger budget package that did not become law.
Redirect some of the Oil Spill Liability Trust Fund
$5 bil. savings
Expand offshore oil and natural gas leasing
$4.2 bil. savings
Expand onshore oil and natural gas leasing
$0.5 bil. savings
Restore noncompetitive oil and gas leasing
$0.16 bil. savings
Other health care
President Trump has vowed not to cut Medicare, but the House Budget Committee’s menu includes numerous technical changes that would lower spending on particular services. Many of these options would cut payments to hospitals.
There are also several vague proposals to reform insurance markets established under the Affordable Care Act.
Change Medicare payments for uncompensated care
Reduce and reorganize special payments made to hospitals that treat uninsured patients
$229 bil. savings
Equalize Medicare payments for doctors’ visits
Pay medical practices the same price whether they are independent or owned by a hospital.
$146 bil. savings
What to know This item appears twice on the list. A law passed during the Obama administration equalized some of these payments, but this policy would go further.
Block grant graduate medical education funding
Cap and reform how Medicare pays hospitals that train medical residents
$75 bil. savings
Recapture overpayments for Obamacare plans
Ask individuals to pay back more tax credits if they end up earning more than expected.
$46 bil. savings
Eliminate Medicare payments for bad debt
Stop payments to hospitals for unpaid bills by their patients
$42 bil. savings
What to know Numerous items on this list would reduce federal payments to hospitals.
Restrict more immigrants from federal health programs
$35 bil. savings
Repeal Obamacare “family glitch” rule
Make family members ineligible for Obamacare tax credits when their spouse’s workplace doesn’t offer them affordable insurance.
$35 bil. savings
Expand Medicare benefits
Provisions would include expanded coverage for telehealth visits, obesity treatments and cancer screening.
$20 bil. cost
What to know The Biden administration also wanted to expand treatment for obesity. A regulation proposed last year would require Medicare and Medicaid to cover obesity drugs.
Limit Medicare drug negotiations on some drugs
$20 bil. cost
Change geographic adjustments to Medicare payments
The shift would lower payments to urban hospitals.
$15 bil. savings
Financial services
Congress is considering ways to make financial regulators more accountable to its preferences. Two separate proposals would change the funding structure for the Consumer Financial Protection Bureau so that Congress would be allowed to adjust and authorize its budget every year.
Change funding for financial regulators
Require Congress to authorize annual funding for groups like the F.D.I.C. and C.F.P.B.
$47 bil. savings
What to know Two proposals would make funding for financial regulators subject to annual spending bills instead of mandatory. This would make it easier for Congress to change the agencies’ budgets.
Repeal F.D.I.C. orderly liquidation authority
A special bankruptcy procedure for large financial institutions
$22 bil. savings
Increase and extend “G-fees”
Guarantee fees charged by Freddie Mac and Fannie Mae
$14 bil. savings
Change funding for the C.F.P.B.
Require Congress to authorize annual funding for the Consumer Financial Protection Bureau.
$9 bil. savings
What to know The agency’s funding structure was the subject of a recent Supreme Court case.
Reform Fannie Mae and Freddie Mac
$5 bil. savings
Reduce Fed dividend payments to big banks
$3 bil. savings
Eliminate Office of Financial Research
$0.946 bil. savings
Eliminate SEC Reserve Fund
$0.475 bil. savings
Eliminate SEC’s ability to carry over unspent funds
Unknown
Government and work force
Numerous policies would weaken pay, benefits and civil service protections for the federal work force, consistent with President Trump’s vows to attack what he often calls the “deep state.” One proposal would make it easier to pay federal workers to retire early.
Raise federal employee retirement contributions
$44 bil. savings
Convert federal workers’ health benefits program to a voucher system
Give workers a tax-free cash allowance to buy health insurance instead of paying a share of health premiums.
$18 bil. savings
Eliminate supplemental retirement payments
To federal workers
$13 bil. savings
Change retirement benefit calculation
The change would reduce pension amounts for most federal workers.
$4 bil. savings
Audit federal employee family members
Who receive health benefits
$2.1 bil. savings
Change Federal Reserve pay and benefits scale
Move employees to basic government pay and benefits scale
$1 bil. savings
Reduce federal retirement contributions for workers with full civil service protections
The plan would allow workers to keep the current contribution if they agreed to become “at will” employees, who can be more easily fired.
Unknown
Charge federal labor unions
For use of agency resources and time
Unknown
Charge federal employees who appeal an employment action
Unknown
Increase “buyout” payments to federal workers who retire early and allow early retirement after fewer years of service.
The plan could encourage more federal workers to leave their jobs.
Unknown
Other programs
One proposal would cut funding to the Internal Revenue Service, a policy change that would increase the deficit by reducing tax compliance.
Electromagnetic spectrum auction
$70 bil. savings
Repeal I.R.S. enforcement funding
From the Inflation Reduction Act
$46.6 bil. cost
What to know Taking back $20 billion previously allocated to the I.R.S. for enforcement is expected to result in $60 billion in lost tax payments.
Eliminate flood insurance subsidies
For the National Flood Insurance Program
$11 bil. savings
Change funding for the Essential Air Service
Use annual appropriations instead of foreign overflight fees to fund a program that supports air service to small communities
$3 bil. savings
Increase timber sales
$2 bil. savings
Rescind natural resources funds
Funds in the Inflation Reduction Act, mostly for climate resilience
$1.943 bil. savings
Increase fees on vessels that enter U.S. ports
Would restore a policy that expired in 2002
$0.6 bil. savings
Repeal science funding
Funds in the Inflation Reduction Act, including for alternative fuel and low-emission aviation and weather forecasting
$0.232 bil. savings
Revoke funding directed to the Presidio Trust
From the Inflation Reduction Act
$0.2 bil. savings
Rescind savings from terminated program
Unknown
In 2025, the Republican Party is presenting a new set of policy proposals aimed at addressing key issues facing our country. From immigration reform to tax policies, here are some of the key proposals being put forward by the GOP:1. Immigration Reform: The Republican Party is advocating for a comprehensive immigration reform package that includes securing our borders, implementing a merit-based immigration system, and providing a pathway to legal status for undocumented immigrants already living in the United States. This plan aims to both strengthen national security and address the needs of our workforce.
2. Tax Reform: In 2025, the GOP is proposing a series of tax reforms aimed at simplifying the tax code, lowering tax rates for individuals and businesses, and promoting economic growth. This includes reducing the number of tax brackets, eliminating certain deductions, and incentivizing investment and job creation.
3. Healthcare: The Republican Party is committed to repealing and replacing the Affordable Care Act with a market-based healthcare system that empowers individuals and families to make their own healthcare decisions. This plan includes expanding access to health savings accounts, allowing for the purchase of health insurance across state lines, and promoting price transparency in the healthcare industry.
4. Education: The GOP is advocating for policies that promote school choice, empower parents to make educational decisions for their children, and increase access to vocational and technical training programs. This includes expanding charter schools, implementing education savings accounts, and promoting apprenticeships and workforce development initiatives.
Overall, the Republican Party’s policy proposals for 2025 aim to promote economic growth, strengthen national security, and empower individuals and families to achieve their full potential. These proposals represent a vision for a brighter future for all Americans.
Tags:
- 2025 Republican policy proposals
- Immigration policy
- Tax reform
- Republican party platform
- Conservative policy agenda
- Future of the GOP
- Immigration reform plan
- Tax policy changes
- Republican legislative agenda
- GOP policy initiatives
#Republican #Policy #Proposals #Immigration #Taxes
Monetary policy decisions
30 January 2025
The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the monetary policy stance – is based on its updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.
The disinflation process is well on track. Inflation has continued to develop broadly in line with the staff projections and is set to return to the Governing Council’s 2% medium-term target in the course of this year. Most measures of underlying inflation suggest that inflation will settle at around the target on a sustained basis. Domestic inflation remains high, mostly because wages and prices in certain sectors are still adjusting to the past inflation surge with a substantial delay. But wage growth is moderating as expected, and profits are partially buffering the impact on inflation.
The Governing Council’s recent interest rate cuts are gradually making new borrowing less expensive for firms and households. At the same time, financing conditions continue to be tight, also because monetary policy remains restrictive and past interest rate hikes are still transmitting to the stock of credit, with some maturing loans being rolled over at higher rates. The economy is still facing headwinds but rising real incomes and the gradually fading effects of restrictive monetary policy should support a pick-up in demand over time.
The Governing Council is determined to ensure that inflation stabilises sustainably at its 2% medium-term target. It will follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance. In particular, the Governing Council’s interest rate decisions will be based on its assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission. The Governing Council is not pre-committing to a particular rate path.
Key ECB interest rates
The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. Accordingly, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.75%, 2.90% and 3.15% respectively, with effect from 5 February 2025.
Asset purchase programme (APP) and pandemic emergency purchase programme (PEPP)
The APP and PEPP portfolios are declining at a measured and predictable pace, as the Eurosystem no longer reinvests the principal payments from maturing securities.
Refinancing operations
On 18 December 2024 banks repaid the remaining amounts borrowed under the targeted longer-term refinancing operations, thus concluding this part of the balance sheet normalisation process.
***
The Governing Council stands ready to adjust all of its instruments within its mandate to ensure that inflation stabilises sustainably at its 2% target over the medium term and to preserve the smooth functioning of monetary policy transmission. Moreover, the Transmission Protection Instrument is available to counter unwarranted, disorderly market dynamics that pose a serious threat to the transmission of monetary policy across all euro area countries, thus allowing the Governing Council to more effectively deliver on its price stability mandate.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:45 CET today.
Monetary policy decisions play a crucial role in shaping the economy and influencing various aspects of financial markets. From interest rate changes to quantitative easing measures, these decisions have far-reaching effects on inflation, employment, and economic growth.In recent times, central banks around the world have been closely monitoring economic indicators and adjusting their monetary policies accordingly. Whether it’s lowering interest rates to stimulate borrowing and spending or raising rates to curb inflation, these decisions are carefully considered and have significant implications for businesses, consumers, and investors.
As we navigate through uncertain times and volatile market conditions, understanding and staying informed about monetary policy decisions is essential. Stay tuned for updates on the latest monetary policy decisions and their impact on the economy.
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monetary policy, central bank, interest rates, inflation, economic growth, monetary policy decisions, fiscal policy, quantitative easing, financial stability, monetary policy tools, federal reserve, European central bank, bank of England, reserve bank of Australia, monetary policy objectives, monetary policy instruments
#Monetary #policy #decisionsStocks Mostly Up Pre-Bell Ahead of Key Tech Earnings, Fed Policy Decision; Asia, Europe Rise -January 29, 2025 at 07:14 am EST
International Business Machines Corporation (IBM) is one of the world’s leading computer services companies. Net sales break down by activity as follows:
– cognitive solutions and transaction processing software development (42.5%);
– IT services (32.3%): consulting (management of logistic chains, financial performance, CRM, human resources, etc.), application management, systems integration, cloud computing, hosting, technical support services, etc.;
– sale of IT infrastructure (23.6%): hybrid IT infrastructure solutions, microcomputers, servers, peripheral devices, networks, data storage equipment, etc.;
– financing of computer equipment (1.2%);
– other (0.4%).
Net sales are distributed geographically as follows: the United States (40.9%), Americas (10.3%), Europe/Middle East/Africa (29.9%) and Asia/Pacific (18.9%).
Stocks Mostly Up Pre-Bell Ahead of Key Tech Earnings, Fed Policy Decision; Asia, Europe RiseAs the market gears up for a busy day of trading, stocks are mostly up pre-bell on Wednesday, January 29, 2025. Investors are eagerly awaiting key tech earnings reports and the Federal Reserve’s policy decision later in the day.
In Asia, markets are showing strength, with Japan’s Nikkei index up 1.5% and China’s Shanghai Composite up 0.8%. In Europe, stocks are also on the rise, with the FTSE 100 in London up 0.9% and the DAX in Frankfurt up 1.2%.
Tech giants such as Apple, Microsoft, and Alphabet are set to report earnings after the closing bell today, and their results could have a significant impact on the overall market sentiment. Investors will be closely watching for any signs of weakness or strength in the tech sector.
Meanwhile, the Federal Reserve is expected to announce its latest policy decision later today. Many analysts are forecasting that the central bank will hold interest rates steady, but any hints of future rate hikes or cuts could move the markets.
Overall, the mood in the market is positive, with investors optimistic about the latest earnings reports and the Fed’s policy decision. However, there is still a sense of caution as uncertainty looms over the global economy. Stay tuned for more updates as the day unfolds.
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stocks, pre-bell, tech earnings, fed policy decision, Asia, Europe, market news, stock market updates, global markets, financial news, economic outlook, stock market trends, investment opportunities, market analysis
#Stocks #PreBell #Ahead #Key #Tech #Earnings #Fed #Policy #Decision #Asia #Europe #Rise #January #ESTIndia reviews Donald Trump’s new trade policy
New Delhi: India is conducting a legal review of US President Donald Trump’s America First Trade Policy to gauge its implications on the country’s trade agenda.
The commerce and industry ministry is undertaking a paragraph-wise review of the executive order issued by Trump last week on the trade policy that entails the US identifying countries with which it can negotiate agreements bilaterally or on a sector-specific basis. US also warns of supplemental tariffs on trade partners to correct America's trade deficits. "A detailed review of the executive order is being held to analyse any implication for India," said an official.The review assumes significance with Trump asking Prime Minister Narendra Modi to move towards a fair bilateral trading relationship and buy more America-made security equipment. Modi is likely to visit the US next month.
The US' trade deficit with India was above $35 billion in FY24.Review WTO Agreements
It is India's top trading partner with New Delhi exporting goods worth $77.5 billion in FY24.Trump has said that high-tariff countries such as India, China, and Brazil "harm" America and that Washington would impose taxes on other countries to bring money into the US. He also threatened the BRICS bloc of 100% tariffs if it moves forward with plans to replace the US dollar.As per the America First Trade Policy, the US will "review the impact of all trade agreements including the WTO on government procurement... to ensure that such agreements are being implemented in a manner that favours domestic workers and manufacturers, not foreign nations".
"The US' policy of becoming a manufacturing hub is similar to India's Atmanirbhar Bharat. India will have to take a calibrated approach as the US has said earlier that its exporters encounter tariff and non-tariff barriers in the country," said a Delhi-based trade expert.
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India reviews Donald Trump's new trade policy: A closer look at the implications Donald Trump's new trade policy has been met with mixed reactions around the world, and India is no exception. The Indian government has expressed concerns about the potential impact of the policy on its economy and trade relations with the United States. One of the key points of contention is the imposition of tariffs on Indian exports to the US. India is one of the largest exporters of goods to the US, and any increase in tariffs could have a significant impact on its economy. The Indian government has called for dialogue with the US to address these concerns and find a mutually beneficial solution. Additionally, India is wary of the potential for a trade war between the US and other countries, including China. A trade war could have far-reaching consequences for the global economy, and India is keen to avoid being caught in the crossfire. Overall, India is closely monitoring the situation and is working to ensure that its interests are protected in the face of changing trade policies. The government is committed to engaging with the US and other countries to find solutions that benefit all parties involved. Stay tuned for more updates on India's response to Donald Trump's new trade policy.
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India trade policy, Donald Trump, trade reviews, international trade, economic policy, India economy, trade agreements, trade relations, global trade, trade policy analysis
#India #reviews #Donald #Trumps #trade #policyTrump Reinstates Longstanding Republican Anti-Abortion Policy
President Trump on Friday reinstated a longstanding Republican anti-abortion policy known as the “Mexico City Rule,” which bars federal funding from going to any overseas nongovernmental organization that performs or promotes abortions.
The move came after he addressed thousands of abortion opponents in Washington on Friday to mark the 52nd anniversary of the Supreme Court’s 1973 decision in Roe v. Wade, which created a national right to abortion and which the court overturned in 2022.
Federal law already bans the use of taxpayer dollars to support abortion services abroad. But in 1984 President Ronald Reagan went one step further, blocking foreign aid to nongovernmental organizations that discuss abortion as part of family planning services, or advocate abortion rights, even if those groups are not using American tax dollars to do so.
In the four decades since, the policy has had a seesaw history. Democratic presidents, including Joseph R. Biden Jr., have revoked it and Republicans have reinstated it. It has been in effect for 21 of the past 40 years.
That Mr. Trump reinstated the ban is not a surprise. When he ran for president in 2016, he took a strong anti-abortion stance, winning the support of Christian conservatives by promising to appoint justices to the Supreme Court who would overturn Roe. In the two and a half years since Roe was overturned, abortion has become a more complicated issue for Republicans, and Mr. Trump did not make it a centerpiece of his 2024 campaign.
But Mr. Trump still needs to tend to his party’s right wing, particularly because his pick for health secretary, Robert F. Kennedy Jr., has a muddled record on abortion. While visiting with senators on Capitol Hill last month, Mr. Kennedy promised Senator Josh Hawley, Republican of Missouri, that he would support reinstatement of the policy as part of a broad anti-abortion agenda.
“He committed to me to reinstate President Trump’s prolife policies at HHS,” Mr. Hawley wrote on social media, using the initials for the Department of Health and Human Services. “That includes reinstating the Mexico City policy & ending taxpayer funding for abortions domestically.”
In April 2023, when he was running for president, Mr. Kennedy said he would support a federal ban on abortion after the first trimester of pregnancy, but then quickly backtracked. His campaign released a statement saying that Mr. Kennedy’s “position on abortion is that it is always the woman’s right to choose,” adding, “He does not support legislation banning abortion.”
The following year, he posted a lengthy message on social media outlining his views. “I support the emerging consensus that abortion should be unrestricted up until a certain point,” he wrote. “I believe that point should be when the baby is viable outside the womb.”
Advocates for reproductive rights say the Mexico City policy has a devastating effect on women overseas, driving up the number of unintended pregnancies, scaling back much-needed family planning programs and sometimes leading women to seek unsafe abortions, which are a major cause of maternal mortality.
The last time Mr. Trump reinstated the policy, when he first took office in 2017, he also expanded it by directing the State Department to identify additional organizations that might fall under the ban. Two years later, in 2019, Mr. Trump further expanded the policy to bar federal funding for overseas groups that give money to other foreign groups that perform abortions.
President Trump has officially reinstated the longstanding Republican anti-abortion policy known as the Mexico City Policy. This policy, first implemented by President Ronald Reagan in 1984, prohibits U.S. foreign aid from being used to fund organizations that provide or promote abortion services overseas.The Mexico City Policy has been a point of contention between Republicans and Democrats for decades, with Republicans praising it as a way to protect the sanctity of life and promote pro-life values, while Democrats argue that it restricts access to safe and legal abortion services for women in developing countries.
President Trump’s reinstatement of this policy is a clear indication of his commitment to the pro-life movement and his efforts to advance conservative values in his administration. This decision has been met with praise from anti-abortion groups and criticism from pro-choice advocates, setting the stage for continued debate over reproductive rights and women’s health policies in the United States and abroad.
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Oil prices post weekly drop as Trump touts energy policy, threatens tariffs
Oil markets sank on Friday, a day after U.S. President Donald Trump pressured OPEC and its de facto leader Saudi Arabia to lower prices in a broad push to drive up crude production.
Joe Klamar | Afp | Getty Images
Oil prices were steady on Friday but posted a weekly decline, ending four straight weeks of gains, after U.S. President Donald Trump announced sweeping plans to boost domestic production while demanding that OPEC moves to lower crude prices.
Brent crude futures gained 21 cents, or 0.27%, to close at $78.50 a barrel. U.S. West Texas Intermediate crude (WTI) gained 4 cents, or 0.05%, to settle at $74.66 a barrel.
Brent has lost 2.83% this week while WTI was down 4.13%.
Trump on Friday reiterated his call for the Organization of the Petroleum Exporting Countries to cut oil prices to hurt oil-rich Russia’s finances and help bring an end to the war in Ukraine.
“One way to stop it quickly is for OPEC to stop making so much money and drop the price of oil … that war will stop right away,” Trump said as he landed in North Carolina to view storm damage.
The threat of harsh U.S. sanctions on Russia and Iran, which are key oil producers, could undermine Trump’s goal of lowering energy costs, StoneX analyst Alex Hodes said in a note on Friday.
“Trump knows this and has leaned on OPEC to cover the void that these will create,” Hodes said.
On Thursday, Trump told the World Economic Forum he would demand that OPEC and its de facto leader, Saudi Arabia, bring down crude prices.
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OPEC+, which includes Russia, has yet to react, with delegates from the group pointing to a plan already in place to start raising oil output from April.
“I don’t really expect OPEC will change policy unless there is a change in fundamentals,” UBS commodities analyst Giovanni Staunovo said. “Markets will be relatively muted until we get more clarity on sanctions policy and tariffs.”
Tariffs
Chevron said on Friday it had started production at a $48 billion expansion of the giant Tengiz oilfield, which will bring its output to around 1% of global crude supply, and could further pressure OPEC’s efforts in the last few years to limit production.
Trump declared a national energy emergency on Monday, rolling back environmental restrictions on energy infrastructure as part of his plans to maximize domestic oil and gas production.
These rollbacks could support oil demand but have the potential to exacerbate oversupply, said Nikos Tzabouras, senior market specialist at trading platform Tradu.
Trump’s policies so far have largely followed predictions on the supply side, including cutting red tape to promote domestic supply growth, according to StoneX’s Hodes. However “the lower hanging fruit for growth has already been picked.”
The U.S. president vowed on Wednesday to hit the European Union with tariffs and impose 25% tariffs on Canada and Mexico. He also said his administration was considering a 10% punitive duty on China.
As attention shifts to a possible February timeline for new tariffs, caution is likely to persist in the market, given potential negative implications for global growth and oil demand prospects, said Yeap Jun Rong, a market strategist at IG. Traders expect oil prices to range between $76.50 and $78 a barrel, he added.
While bullish catalysts such as a significant drawdown in U.S. crude stocks are providing temporary positive swings, an over-supplied global market and projections of ailing Chinese demand continue to weigh on crude futures, said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova.
U.S. crude inventories last week hit their lowest level since March 2022, the U.S. Energy Information Administration said.
Oil prices have experienced a weekly drop as President Trump continues to tout his energy policy and threaten tariffs on foreign oil. The uncertainty surrounding trade tensions and the impact on global oil demand has caused prices to fluctuate, with many investors closely monitoring the situation.President Trump’s focus on increasing domestic oil production and reducing reliance on foreign imports has created a sense of volatility in the market, as traders try to anticipate the potential impact on supply and demand dynamics. At the same time, his threats of imposing tariffs on countries like Iran and Venezuela have added another layer of uncertainty to the mix.
As we head into the coming weeks, it will be important to keep a close eye on developments in the energy sector and how they are influencing oil prices. With geopolitical tensions and trade negotiations playing a significant role in shaping the market, investors should be prepared for potential fluctuations in the weeks ahead.
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#Oil #prices #post #weekly #drop #Trump #touts #energy #policy #threatens #tariffsGM reports record profits, stronger results ahead, but uncertainty about policy under Trump
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CNN
—
General Motors reported a record adjusted net income for 2024 on Tuesday, just a year after the costly strike by the United Auto Workers union, and said it expects even better operating results in the year ahead.
But the company admitted a number of policy headwinds from the Trump administration could derail that profit guidance, as GM and the rest of the US auto industry deals with making plans in the face of uncertainty.
Tariffs on imports from Canada and Mexico, which provide parts to GM’s US plants, could badly disrupt the automaker’s supply chain and raise the cost of assembling cars and trucks. GM also has assembly plants in both countries sending cars to the US market.
President Donald Trump is also taking aim at federal support for electric vehicles and the Environmental Protection Agency’s emission rules, which could delay GM’s planned shift from gasoline-powered vehicles to electric vehicles over the course of the next decade, as well as its plans to trim current losses on EVs.
GM declined to comment on the specifics of how it plans to deal with the challenges.
“We’re having conversations broadly with the administration, internally, with our partners, with our supply chain, really trying to understand what we would do in the event the world changes dramatically,” GM CFO Paul Jacobson told reporters Monday evening. “I would say we’ve got a pretty extensive playbook. I won’t go into the details. We’ve been preparing for that. We want to make sure we are prudent, we don’t overreact.”
He also wouldn’t comment on what GM and other automakers seek from the Trump administration regarding environmental regulation including Trump’s call to eliminate a $7,500-per-vehicle tax credit for buyers of electric vehicles.
For 2024, GM reported an adjusted net income of $12.1 billion, topping the previous record of $11 billion set in 2022.
Its net income for the year was $6 billion after facing a loss in its fourth quarter, from charges for restructuring its operations in China and discontinuing plans for a fleet of driverless robotaxis.
Still, even its losses did not reduce profit-sharing payments for GM’s 45,000 UAW members, who each got record payments of up to $14,500, equal to more than two months of pay.
“Suffice it to say, 2024 was an outstanding year for GM,” Jacobson said. “When we deliver results like these, everybody wins.”
General Motors, one of the largest automakers in the world, has reported record profits in their latest financial results. The company’s earnings have surpassed expectations, signaling a strong performance in the current market.Despite this positive news, there is uncertainty looming over GM’s future due to the policies of the Trump administration. President Trump has been known to impose tariffs on imported goods, which could potentially impact GM’s supply chain and production costs.
Additionally, the ongoing trade tensions between the US and China pose a threat to GM’s global operations. The company relies heavily on international markets for revenue, and any disruptions in trade could have significant consequences for their bottom line.
Despite these challenges, GM remains optimistic about their future prospects. The company is investing in new technologies such as electric vehicles and autonomous driving, which are expected to drive growth in the coming years.
Overall, GM’s record profits and strong performance bode well for the company’s future. However, the uncertainty surrounding policy decisions under the Trump administration remains a key concern for investors and stakeholders.
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Energized House Republicans look to Trump for guidance at annual policy retreat
DORAL, Fla. (AP) — President Donald Trump is expected to rally House Republicans Monday at their annual policy retreat as they look to make progress on tax cuts, border security and other conservative priorities.
House Republicans are holding their annual policy retreat at Trump National Doral Miami, a posh resort with four golf courses and a ballroom named after the president. They are trying to find consensus on a spending bill before a March 14 deadline and secondly on a budget blueprint that would set the stage for passing a filibuster-proof tax, energy and border security bill later this year.
It’s a daunting task, with Speaker Mike Johnson setting the first week of February for the House Budget Committee to pass a budget blueprint that is key to the whole process.
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“That will be where the lion’s share of these campaign promises we made are fulfilled,” Johnson said. “And that’s what all the hard work here is, in the room with all of us negotiating and coming to consensus.”
Political capital is almost always at its peak at the start of a new presidential term, even more so because this is Trump’s second and he is prevented under the Constitution from a third. Moving swiftly is all the more important because the GOP majorities are slim, particularly in the House.
Johnson is trying to lump many of the GOP priorities into one massive catch-all bill that Senate Democrats cannot filibuster, but many Republican senators think it would be better to do two bills — the first focused on border security and defense, and the second on extending and expanding upon the tax cuts passed in Trump’s first term.
Republicans are eyeing potential changes to key safety net programs, such as work requirements for those participating in Medicaid, to help offset the cost of enacting their priorities.
House Republicans said they expect more specifics to be announced after the retreat on where they are headed.
Until then, they were highlighting Trump’s first week in office, particularly reveling in the showdown that Trump had with Columbia this past weekend over accepting flights of deported migrants from the U.S.
White House press secretary Karoline Leavitt said in a statement that Columbia agreed to all of Trump’s terms, “including the unrestricted acceptance of all illegal aliens from Colombia returned from the United States, including on U.S. military aircraft, without limitation or delay.”
“Think about it, President Trump, I don’t even think had finished the front nine before he successfully forced the Columbian president to take back their illegal immigrants,” said Rep. Lisa McClain, R-Mich. “The days of America being walked all over are long gone thanks to President Trump.”
On the budget fight to come, Democrats are already casting it as one that would primarily benefit the wealthy at the expense of others, with House Democratic Leader Hakeem Jeffries labeling the Republican plan a “contract against America.”
“It will hurt working families, hurt the middle class, hurt our children, hurt our seniors and hurt our veterans,” Jeffries said.
Republicans are warning that if Congress does not act quickly to extend tax relief, capital will remain on the sidelines and families next year would see child tax credits and a guaranteed tax deduction greatly reduced, upping their federal tax bill.
Trump and Republican leaders are also going to have to find a way to extend the nation’s debt limit. The limit must be raised by Congress, and failure to do so risks the federal government defaulting on its debt and unable to pay all its bills.
Under President Joe Biden, Republican lawmakers sought concessions on spending before agreeing to suspending the debt ceiling, but it’s unclear how adamant they will be on deficit reduction during a Trump presidency.
At the annual policy retreat for House Republicans, there is a palpable sense of energy and excitement as lawmakers gather to strategize for the year ahead. With the midterm elections looming, the stakes are high, and members are eager to rally behind a unified message.One key figure who is expected to play a central role in shaping the party’s agenda is former President Donald Trump. Despite no longer holding office, Trump remains a powerful force within the GOP, and many House Republicans are looking to him for guidance on key policy issues.
From immigration reform to healthcare, tax policy to national security, lawmakers are eager to hear Trump’s thoughts and receive his endorsement on their legislative priorities. With Trump’s loyal base of supporters still a major force within the party, his influence is undeniable.
As House Republicans huddle together to chart their course for the coming months, there is a sense of optimism and determination in the air. With Trump’s guidance, they hope to harness this energy and momentum to achieve their goals and secure victories in the upcoming elections.
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Selena Gomez breaks down in tears in emotional video while speaking about Trump’s deportation policy
Selena Gomez broke down in tears while speaking about the deportation of Mexican people in a very emotional video on her Instagram Story.
In her recording, the 32-year-old actress sobbed as she reacted to President Trump’s plan to deport millions of immigrants, which has ignited fears of family separations.
‘All my people are getting attacked, the children. I don’t understand. I’m so sorry, I wish I could do something but I can’t. I don’t know what to do. I’ll try everything, I promise,’ she said in the since-deleted recording on Monday.
The Only Murders in the Building star previously produced a 2019 Netflix documentary, titled Living Undocumented, chronicling the lives of undocumented families in the United States.
At the time, the former Disney Channel star, who was born in Texas, opened up about her family’s own immigration story, which began in the 1970s when her aunt crossed the border from Mexico to America hidden in the back of a truck.
Selena Gomez broke down in tears while speaking about the deportation of Mexican people in a very emotional video on her Instagram Story
Her paternal grandparents, Ricardo and Mary followed their daughter and, once in the US, they welcomed Selena’s father, who is also called Ricardo.
Her mother, Mandy Teefey, is also a U.S. citizen.
In a personal essay for Time magazine, she shared: ‘Undocumented immigration is an issue I think about every day, and I never forget how blessed I am to have been born in this country thanks to my family and the grace of circumstance.’
‘But when I read the news headlines or see debates about immigration rage on social media, I feel afraid for those in similar situations. I feel afraid for my country,’ Gomez continued.
The Golden Globe nominee noted as a Mexican-American woman that she feels ‘a responsibility to use’ her platform ‘to be a voice for people who are too afraid to speak.’
‘When I signed on to executive-produce a show about undocumented immigrants, I couldn’t help but anticipate the criticisms I might face. But the truth is, the worst criticism I can imagine is still nothing compared to what undocumented immigrants face every day,’ she explained.
The Rare Beauty reminded her followers that ‘fear shouldn’t stop us from getting involved and educating ourselves on an issue that affects millions of people in our country.’
Gomez has been vocal about concerns over how immigrants are obtained in the United States and previously called out ‘kids in cages’ that were ‘sleeping on concrete floors with aluminum blankets.’
In her recording, the 32-year-old actress sobbed as she reacted to President Trump’s plan to deport millions of immigrants, which has ignited fears of family separations
‘All my people are getting attacked, the children. I don’t understand. I’m so sorry, I wish I could do something but I can’t. I don’t know what to do. I’ll try everything, I promise,’ she said in the since-deleted recording on Monday
‘No access to simple dignities! How is this still happening??? It’s absolutely inhumane to treat anyone like this let alone children. I can’t even imagine what they are going through. We need to get this to finally stop!’ she wrote in an Instagram post back in 2019.
In 2020, Gomez gave a heartfelt speech for Define American’s Immigrad 2020, a virtual commencement for immigrant graduates.
‘Congratulations to all of the immigrads! I know that this is a virtual ceremony, but it’s very real, and it’s very real to all of the families and all of you and your communities,’ she gushed. ”I want you guys to know that you matter and that your experiences are a huge part of the American story.’
During her speech, the star reflected on her family coming to American from Mexico and setting ‘into motion’ her ‘American story as well as theirs.’
‘I’m a proud, third-generation American-Mexican, and my family’s journeys and their sacrifice helped me get me to where I am today,’ she said proudly.
‘Mine is not a unique story,’ Gomez noted. ‘Each and every one of you have a unique tale of becoming an American, so regardless of where your family is fun, regardless of your immigration status, you have taken action to earn an education to make your families proud and to open up your worlds.’
Selena Gomez Breaks Down in Tears in Emotional Video While Speaking About Trump’s Deportation PolicyIn a heartfelt and emotional video posted on her social media, singer and actress Selena Gomez couldn’t hold back her tears as she spoke out against President Trump’s controversial deportation policy.
Gomez, whose father is of Mexican descent, passionately expressed her outrage and sadness over the administration’s harsh treatment of immigrants and their families. Through tears, she condemned the policies that have torn families apart and caused widespread fear and uncertainty in immigrant communities.
“I can’t stand by and watch this happen,” Gomez said, her voice shaking with emotion. “We need to come together to fight against this injustice and show compassion and empathy towards those who are suffering because of these policies.”
The video quickly went viral, with fans and followers praising Gomez for using her platform to speak out against injustice and advocate for those who are marginalized and oppressed.
As the debate over immigration rages on, Gomez’s emotional plea serves as a powerful reminder of the human cost of these policies and the importance of standing up for what is right.
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