
Texas pushes back against foreign land grab with 'strongest bill in the nation' against China, Iran, Russia
Championed by Republican state Rep. Cole Hefner and state Sen. Lois Kolkhorst, Senate Bill 17 (SB17) is designed to stop governments and entities tied to countries like China, Iran, North Korea and Russia from gaining a foothold on Texas soil.
In an exclusive interview with Fox News Digital, Hefner described SB17 as "model legislation" aimed at shutting down land purchases that pose a national security threat.
"This bill is about actions and affiliations, not race, not nationality," Hefner said. "If you're acting on behalf of a hostile foreign adversary, we're going to take that land back."
The bill is in direct response to real-world events.
Hefner cited the 2021 case of a retired Chinese general acquiring over 140,000 acres near Laughlin Air Force Base.
"We've [also] seen the attempt of foreign actors or hostile foreign adversaries to buy land close to food processing plants," Hefner said. "And it's just something that we have found the more we dig into it, the more we find that there's a lot of things we don't know and a lot of vulnerabilities that are out there."
The bill prohibits entities and individuals affiliated with governments designated as national security threats, based on the U.S. Director of National Intelligence's annual assessments, from purchasing real estate if those purchases pose risks to public health or safety.
The law empowers the state's attorney general to investigate, block and even reverse such land deals through court-ordered receivership.
Under SB17, "real property" includes agricultural, commercial, industrial, and residential land as well as mines, minerals, and timber. The law includes key exemptions for U.S. citizens, lawful permanent residents, and property intended as a personal homestead.
"The strong points of our bill is that it can apply to anyone if we can prove they're acting as an agent," said Hefner. "So even if they're from a friendly country, but they're actually on behalf of a foreign adversary, then they will be subject to the bill."
The bill gives the attorney general investigative powers, and authority to appoint receivers to manage or sell properties acquired in violation of the law.
Hefner pushed back hard on critics who claim the bill is xenophobic. "This has nothing to do with skin color or ethnicity," he said. "It's about protecting Texans and Americans from foreign espionage and influence."
He also stressed that SB17 should not be seen as a partisan move. "It shouldn't be a partisan issue. This is about national security. This is about keeping our citizens safe," said Hefner. "It's not about Republican or Democrat, it's not liberal or conservative. It is just taking care of our people.
"And I believe that's the, you know, the number one responsibility of the government is to make sure that people can live free and safe in their state."
SB17 is set to take effect Sept. 1. Hefner said he hopes the legislation sparks a nationwide effort.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
7 minutes ago
- Yahoo
Perimeter Announces Date for Second Quarter 2025 Earnings Call
Clayton, Missouri--(Newsfile Corp. - July 28, 2025) - Perimeter Solutions (NYSE: PRM) ("Perimeter" or the "Company"), a leading global solutions provider for the Fire Safety and Specialty Products industries, announced today it will release its financial results for the second quarter 2025 on Thursday, August 7, 2025, before the market opens. The Company will host a conference call to discuss these results at 8:30 a.m. ET on the same day. The presentation will be led by CEO Haitham Khouri, CFO Kyle Sable, and Head of Investor Relations Seth Barker. The live webcast of the call can be accessed through Perimeter's investor relations website at and as follows: When: Thursday, August 7, 2025, at 8:30 AM (ET) Dial-in Number: 877-407-9764 / 201-689-8551 Conference Name: Perimeter Solutions Q2 2025 Earnings Call Materials Available At: Replay Available: Thursday, August 7, 2025 to September 6, 2025 (11:59 PM ET) Replay Number: 877-660-6853 / 201-612-7415 Access ID: 13754057 Internet Access: About Perimeter Solutions Headquartered in St. Louis, Missouri, Perimeter Solutions (NYSE: PRM) is a leading global solutions provider for the Fire Safety and Specialty Products industries. The Company's products and operations are managed and reported in two operating segments: Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services typically offered in conjunction with the Company's retardant and foam products. The Specialty Products segment includes operations that develop, produce and market products for non-fire safety markets. The Company's largest end market application for the Specialty Products segment is Phosphorus Pentasulfide ("P2S5") based lubricant additives. The Specialty Products segment also includes IMS, which is a manufacturer of electronic or electro-mechanical components of larger solutions across a range of end markets, including medical systems, communications infrastructure, energy infrastructure, defense systems, and industrial systems, with a substantial focus on aftermarket repair and replacement. For more information, visit: Investor Relations Contact: Seth BarkerHead of Investor Relations and VP of Financial Planning and Analysisir@ To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 minutes ago
- Yahoo
Trading Day: Fading trade deal relief?
By Jamie McGeever ORLANDO, Florida (Reuters) -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist Investors' initial response to the U.S.-EU trade deal framework saw the euro and German stocks slammed lower on Monday, while the S&P 500 and Nasdaq notched fresh closing highs in choppy trade, also supported by optimism around U.S. tech earnings. More on that below. In my column today I look at whether the Q2 earnings season could be an inflection point for U.S. stocks - does the 'Mag 7' megacap concentration persist, or is the market finally beginning to broaden out? If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today. 1. Out-gunned Europe accepts least-worst U.S. trade deal 2. U.S. tariffs will be test of luxury brands' pricingpower 3. EU's lopsided Trump trade deal will be short-lived 4. Fed rates are going nowhere fast: Mike Dolan 5. Bank of England poised to slow QT after rise in yields Today's Key Market Moves * FX: Euro falls 1.2%, dollar index up 1%; both biggestmoves since May 12. * STOCKS: Germany's DAX falls 1% after U.S.-EU trade deal,S&P 500 and Nasdaq notch fresh closing highs. * BONDS: U.S. yields rise 3 bps at long end, curve snaps7-day flattening streak. * COMMODITIES: Oil rises 2.4%, biggest rise in over twoweeks. Fading trade deal relief? The relief and feel-good factor for markets that Sunday's U.S.-European Union trade deal initially sparked waxed and waned on Monday, with European assets hit hard and Wall Street trading in negative territory for much of the session. The S&P 500 and Nasdaq did manage to set new closing highs. The trade deals with the UK, Japan and now the EU are seen as significant wins for Washington and President Donald Trump, as they secure higher tariffs on imports into the U.S. without retaliation and include commitments for additional investment. Many Europeans have criticized the EU for caving in. Oppenheimer Asset Management on Monday raised its year-end target for the S&P 500 index to 7,100, the highest among major Wall Street brokerages, betting on easing trade tensions and strong corporate earnings. But as commentator Matthew Klein noted on Monday, it is odd that the country unilaterally making things more expensive for its citizens is somehow deemed to be "winning". The longer-term impact on the U.S. economy and revenues remain to be seen, but most observers agree growth will slow, and inflation and unemployment will rise in the short-term. Joseph Wang, CIO at Monetary Macro, estimates that the "trade war is concluding with an effective tax hike worth about 1% of GDP." With the tariff on most imports from the EU now set at 15%, America's overall average effective tariff rate is now 18.2%, according to the Yale Budget Lab, the highest since 1934. Attention now turns to Stockholm, where U.S. Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng are seeking to extend a tariff truce by three months. These talks, set to conclude on Tuesday, could also pave the way for a meeting between Trump and Chinese President Xi Jinping in late October or early November. On top of trade, there are plenty market-moving developments and events for investors to monitor this week, including top-tier corporate earnings, policy meetings in Japan and the U.S., and the latest U.S. inflation and employment reports. This week is the busiest of the second-quarter earnings season with over 150 companies in the S&P 500 scheduled to report, including four of the 'Magnificent Seven' tech giants later in the week. Tuesday's focus will likely center on Visa, Proctor & Gamble, and Boeing. Elsewhere, the U.S. Treasury on Monday said it expects to borrow $1.007 trillion in the third quarter, almost double the April estimate mainly due to the lower beginning-of-quarter cash balance and projected lower net cash flows. Is U.S. stock rally near 'Mag 7' turning point? As investors brace for the busiest week of the U.S. earnings season, with four of the 'Magnificent Seven' tech giants reporting, debate is picking up again about these megacap firms' influence over U.S. equity indexes and whether we could be seeing the beginnings of true market broadening. By some measures, this small clutch of tech titans' profits, market cap, and valuations as a share of the wider market has never been bigger. Broader indices are at record highs, but strip out these firms and the picture is much less rosy. Indeed, since the beginning of 2023, the S&P 500 composite - the benchmark 'market cap' index increasingly dominated by the 'Mag 7' - has gained 67%, more than double the 'equal-weight' index's 32%. Only two years ago, the S&P 500 composite/equal-weight ratio was 0.66, meaning the composite index was worth around two-thirds of the equal weight index. That ratio is now 0.84, the highest since 2003. There's good reason for that. According to Larry Adam, chief investment officer at Raymond James, 12-month forward earnings estimates for the S&P 500 have outpaced estimates for the equal-weight index by 14%. And Tajinder Dhillon, senior research analyst at LSEG, notes that the 'Mag 7' last year accounted for 52% of overall earnings growth. Many investors and analysts consider it unhealthy to have the fate of the entire market dependent on so few companies. It may be fine when they're flying high, but not so much if one or two of them take a dive. Plus, it makes stock picking more difficult. If the market basically goes where the 'Mag 7' or Nvidia go, why should an investor bother buying anything else? That's a recipe for market inefficiencies. YACHTS AND ALL BOATS? There have recently been nascent signs that the market may be broadening out beyond tech and AI-related names, largely thanks to positive news on the trade front. Last week, the equal-weight index eclipsed November's high to set a fresh record. Raymond James's CIO Adam notes that the equal-weight index outperformed the S&P 500 last week for the fourth week in the last 13. More of the same this week would mark its first monthly outperformance since March. Can it hit this mark? Around 160 of the S&P 500-listed firms report this week, including Meta and Microsoft on Wednesday and Amazon and Apple on Wednesday. It's not a stretch to say these four reports will move the market more than the rest combined. LSEG's Dhillon says the Mag 7's share of total earnings growth is expected to fall to 37% this year and 27% next year. The expected earnings growth spread between Mag 7 and the wider index in the second quarter - 16.4% vs. 7.7% - is the smallest since 2023, and will shrink more in Q3, he adds. Larry Adam at Raymond James, however, thinks the recent market broadening is a "short-term normalization" rather than a "material shift". He thinks the earnings strength of the tech-related sectors justifies the valuation premium on these stocks. Regardless, what we know for sure is that fears about the market's concentration and narrowness have been swirling for years and there has yet to be a reckoning. The equal-weight index's rise to new highs last week suggests the rising tide is lifting all boats, not just the billionaire's yachts. Essentially, the Mag 7 and large caps are outperforming, but if you peel back the onion, other sectors like financials and industrials are also doing well. And look around the world. Many indices outside the U.S. that aren't tech-heavy are approaching or printing new highs also, like Britain's FTSE 100 and Germany's DAX. "To see the largest names leading isn't a worrisome sign, especially as they are backing it up with very strong earnings," says Ryan Detrick, chief market strategist at Carson Group. "This isn't a weak breadth market, it is broad based and a very healthy rally." This week's earnings might go some way to determining whether this continues for a while yet. What could move markets tomorrow? * U.S. consumer confidence (July) * U.S. JOLTS job openings (June) * U.S earnings, including Proctor & Gamble, Visa, Boeing * U.S. Treasury auctions $44 billion of 7-year notes Want to receive Trading Day in your inbox every weekday morning? Sign up for my newsletter here. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (By Jamie McGeever; Editing by Nia Williams)
Yahoo
7 minutes ago
- Yahoo
Duval GOP closes registration gap to under 10,000 for the first time
The Duval GOP is closing in on the local Democratic Party when it comes to voter registrations, with the gap now below 10,000 voters for the first time. Still, local Democrats see some silver linings in the data. Newly elected Duval GOP Chair Charles Barr celebrated the release of the new voter data. He argued it shows local registration efforts are paying off. 'We've had people out, boots on the ground and you know we've just been shaking the bushes to get voter registrations,' said Barr. The latest stats mark a milestone in what has been a multi-year push to close the registration gap. As recently as 2018, that gap was closer to 40,000. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] But Duval Democratic Party Chair Daniel Henry still sees the battleground county as a Democratic stronghold. He noted Democrats still hold the lead, despite other major battleground counties like Miami-Dade and Hillsborough flipping to Republicans in recent years. 'And in reality, it's about a 90-vote difference compared to where we were 30 days ago. So, I'm just gonna chalk this up to smoke and mirrors,' said Henry. And he attributed the holdout to the popularity and success of local Democratic leaders, including Mayor Donna Deegan, whose approval ratings have held over 60 percent. 'I think it speaks to the strong message that we're giving here locally,' said Henry. But Barr noted that as those other counties have flipped, the state party has set its sights on Duval. 'I'm excited to turn this county Red. People said it can't be done, but you know, unless you get out and get boots on the ground and work hard and have some great volunteers like I have you won't do it, but I know that we can do it,' said Barr. Statewide, Republicans outnumber Democrats by 1.3 million. By the 2027 election, Barr said it's his hope to cut the Republican disadvantage here in Duval down to fewer than 5,000. Regardless of party or county, you can register to vote online here. >>> STREAM ACTION NEWS JAX LIVE <<< [SIGN UP: Action News Jax Daily Headlines Newsletter] Solve the daily Crossword