Washington, March 31 (IANS) Senior US lawmakers have pressed the Commerce Department to release detailed data on exports of American-made semi-automatic weapons, citing concerns that such sales are fuelling criminal violence abroad.In a letter to Under Secretary of Commerce for Industry and Security Jeffrey Kessler, Senator Elizabeth Warren and Representative Gregory Meeks said US firearm exports account for a significant share of crime guns traced globally.Data from the Bureau of Alcohol, Tobac…
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Washington, March 12 (IANS) More than 40 US senators have demanded answers from the Pentagon over the bombing of a girls’ school in Iran that reportedly killed at least 168 people, most of them children, during the opening phase of the Trump administration’s war against Iran.In a letter to Defence Secretary Pete Hegseth, the lawmakers said they were writing with “grave concern regarding the airstrikes on a girls’ elementary school that reportedly killed at least 168 people — mostly chil…
Washington, Feb 28, (IANS) President Donald Trump’s decision to launch military strikes in Iran has sparked intense political debate in the US. Senior Democrats have called the action unauthorised and reckless, while Republican lawmakers defend it as decisive and necessary. Lawmakers have described the strikes as expansive and pre-emptive, reigniting debate over war powers, strategy, and the risk of broader conflict in the Middle East.“Overnight, the president conducted expansive U.S. strike…
Washington, Feb 28 (IANS) US banking regulators defended sweeping efforts to recalibrate capital rules and formalise crypto oversight as senators clashed over Basel reforms, political “debanking” and consumer safeguards in a hearing with global implications for capital flows and digital finance.Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott said regulation must focus strictly on financial risk.“No law — no lawful business in Anderson, South Carolina or anywhere in…
Washington, Feb 27 (IANS) Democratic Senators have questioned US Commerce Secretary Howard Lutnick over a $1.6 billion rare-earth minerals deal, warning that the arrangement could benefit his immediate family and his former firm, Cantor Fitzgerald.In a February 25 letter, Senators Elizabeth Warren, Ron Wyden, and Chris Van Hollen said the agreement brokered by the Department of Commerce with USA Rare Earth, Inc. (USAR) “could enrich your immediate family.”“This follows in a long string of …
Washington, Feb 13 (IANS) A fierce debate over the future of US crypto regulation unfolded on Capitol Hill as senators clashed over whether the Trump administration’s Securities and Exchange Commission is easing enforcement while pushing for a new statutory framework to bring clarity to digital asset markets.SEC Chairman Paul S. Atkins on Thursday defended a pivot away from what Republicans described as “regulation by enforcement” under the previous administration and towards clearer statu…
Washington, Feb 12 (IANS) A top military officer nominated by President Donald Trump to lead US Cyber Command and the National Security Agency has warned that China is aggressively seeking advanced American AI chips to power next-generation weapons systems. “I agree that China is aggressively seeking to acquire advanced AI chips to accelerate its development of AI-enhanced weapons,” Lieutenant General Joshua Rudd said in written responses to questions from Senator Elizabeth Warren.Rudd’s r…
New Delhi, Feb 7 (IANS) Two US Democratic senators, Elizabeth Warren (from Massachusetts) and Andy Kim (from New Jersey), have reportedly urged the Department of Defense (DOD) to conduct a review of billionaire Elon Musk-led SpaceX.The senators alleged that Chinese investors have secretly acquired stakes in the aerospace maker, The Hill Reported. In a letter to Defense Secretary Pete Hegseth, the legislators raised concerns about SpaceX, a major contractor for the DOD. They also cited recently u…
Washington, Feb 6 (IANS) A sharp partisan clash over inflation, bank regulation and financial stability dominated a Senate Banking Committee hearing on as Treasury Secretary Scott Bessent defended the administration’s economic record and the Financial Stability Oversight Council’s 2025 annual report.Stressing growth and affordability, Committee Chairman Tim Scott warned against policies that burden households. “A system that slows growth, limits opportunity or prices families out of basic …
Washington, Feb 6 (IANS) Treasury Secretary Scott Bessent has told lawmakers that economic growth and household security are now central to safeguarding the financial system.Testifying before the Senate Banking Committee on Thursday, Bessent said the Financial Stability Oversight Council (FSOC) has moved away from what he called a reflexive approach to regulation. “Promoting economic growth and economic security is essential to ensuring financial stability,” he said.The hearing marked the fi…