logo
Grassley places holds on 3 Trump Treasury nominees

Grassley places holds on 3 Trump Treasury nominees

Yahoo6 hours ago
Sen. Chuck Grassley (R-Iowa) is placing a hold on three of President Trump's nominees to the Treasury Department over forthcoming administration rules expected to hamper tax credits for wind and solar energy.
Grassley, who recently engaged in a heated back-and-forth with Trump over the handling of judicial picks, announced his move to place the holds in the congressional record Friday.
'Today, I placed a hold on three Department of the Treasury nominees,' he said in the record, specifically naming Trump's picks for the department's general counsel, assistant secretary and undersecretary.
The Iowa Republican added that while the 'big, beautiful, bill' recently passed by Congress allowed for wind and solar companies to continue to get tax credits if they begin construction of their projects in the next year, the Treasury Department 'is expected to issue rules and regulations implementing the agreed upon phase-out of the wind and solar credits by August 18, 2025.'
'Until I can be certain that such rules and regulations adhere to the law and congressional intent, I intend to continue to object to the consideration of these Treasury nominees,' Grassley said.
Sen. John Curtis (R-Utah) is also placing a hold on the same nominees — Brian Morrissey Jr., Francis Brooke and Jonathan McKernan — for the same reason, a source familiar told The Hill.
It's not entirely clear whether these holds will actually have a significant impact on the nominations. Typically, they can slow the process of confirming a nominee, requiring the chamber to spend hours debating and taking additional votes for each nominee without ultimately blocking them.
With a handful of nominees, holds are more of an annoyance, but in some cases — like in 2023, when Sen. Tommy Tuberville (R-Ala.) put holds on hundreds of military promotions — they have successfully delayed nominations for a significant period.
It's unusual, though not unheard of, for lawmakers of the president's party to place holds on nominees.
Grassley's decision was first reported Monday by C-SPAN'S Craig Caplan. Curtis's move was first reported by Politico.
The hold comes amid a larger spat between Grassley and Trump after president told the senator last week to ax the Judiciary Committee's 'blue slip' tradition of allowing home-state senators to veto nominees to district courts and U.S. attorneys' offices.
Trump reposted comments that accused Grassley of being 'sneaky' and a 'RINO,' an acronym for Republican in name only.
'I was offended by what the president said, and I'm disappointed it would result in personal insults,' Grassley said in response.
Trump, meanwhile, has expressed frustration at the pace of the Senate's confirmation of his nominees, saying lawmakers should stay in Washington to confirm more people ahead of their yearly August recess.
How rapidly to phase out energy tax credits was a major sticking point among Republican lawmakers as they put Trump's megabill together.
The bill provisions that Curtis helped to secure allowing wind and solar projects to get the full value of a lucrative tax credit if they start construction within 12 months of its passage.
After the bill was passed Trump signed an executive order that directed the Treasury to take a strict approach to limit which projects are eligible.
The administration has been particularly hostile to wind and solar and broadly supportive of other energy sources, including oil, gas, coal and nuclear.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

MetLife (MET) To Report Earnings Tomorrow: Here Is What To Expect
MetLife (MET) To Report Earnings Tomorrow: Here Is What To Expect

Yahoo

time24 minutes ago

  • Yahoo

MetLife (MET) To Report Earnings Tomorrow: Here Is What To Expect

Global insurance giant MetLife (NYSE:MET) will be reporting results this Wednesday afternoon. Here's what investors should know. MetLife beat analysts' revenue expectations by 3% last quarter, reporting revenues of $18.83 billion, up 10.6% year on year. It was a slower quarter for the company, with a significant miss of analysts' book value per share estimates and a miss of analysts' EPS estimates. Is MetLife a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting MetLife's revenue to be flat year on year at $18.64 billion, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $2.16 per share. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MetLife has missed Wall Street's revenue estimates four times over the last two years. Looking at MetLife's peers in the life insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Corebridge Financial delivered year-on-year revenue growth of 5.8%, beating analysts' expectations by 7.3%, and Lincoln Financial Group reported revenues up 4.4%, topping estimates by 1.1%. Lincoln Financial Group traded up 7.8% following the results. Read our full analysis of Corebridge Financial's results here and Lincoln Financial Group's results here. Debates around the economy's health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the life insurance stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.9% on average over the last month. MetLife is down 5.3% during the same time and is heading into earnings with an average analyst price target of $94.14 (compared to the current share price of $75). Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.

Most ethics complaints filed against NM lawmakers resolved quietly
Most ethics complaints filed against NM lawmakers resolved quietly

Yahoo

time24 minutes ago

  • Yahoo

Most ethics complaints filed against NM lawmakers resolved quietly

Aug. 4—SANTA FE — The recent internal ethics investigation into top Senate Democrat Mimi Stewart marked the first time in years that a complaint against a New Mexico lawmaker led to a public hearing. But there have been no shortage of filed complaints. With the exception of the complaint against Stewart, all other allegations of misconduct filed against lawmakers in the last five years — there have been a total of 17 — were quietly resolved without any details being publicly released, according to legislative records. Some of the complaints that date back to January 2020 were dismissed following an internal investigation, while others were informally settled or withdrawn. The recent trends have prompted some current and former legislators to say flaws in the system need fixing. Former state Sen. Mark Moores, a Republican who stepped down last year, said New Mexico's current legislative ethics system is tainted by partisan politics. "The system is working as intended, because the system was set up so leadership could still retain control," Moores said . He said the system should be changed to more closely model the congressional ethics system, which features an independent, nonpartisan office that reviews allegations of misconduct against members of Congress and staffers. The public currently lacks confidence in New Mexico's legislative ethics system, Moores added, in large part because leading legislators function as gatekeepers of sorts who determine whether complaints filed against lawmakers should move forward. "You're never going to have a fair hearing against anyone in leadership because they appoint their cronies," he said. Sen. Katy Duhigg, D-Albuquerque, said lawmakers have struggled to find the right balance between transparency and protecting themselves from possible politically-driven complaints. "I think each time we see this process used, we see areas that need improvement," said Duhigg, who chairs the Senate Rules Committee. She said she would support changes to the legislative ethics system such as simplifying the wording of ethics policies and protocols, along with mandatory mediation to try to resolve complaints involving legislators and staffers. "I think we are on the right road, but there is room for improvement," Duhigg said. A recent history of tie votes The complaint against Stewart, the Senate's president pro tem since 2021, was filed by a legislative staffer in February after the veteran lawmaker allegedly shouted at her during a heated moment during this year's 60-day legislative session. After an initial panel of lawmakers found probable cause existed to advance the complaint, a legislative ethics hearing subcommittee recommended last week the complaint against Stewart be dismissed. But the recommendation was made via a party-line 4-3 vote, with retired state Supreme Court Justice Richard Bosson siding with the subcommittee's three Senate Democrats. The three Senate Republicans appointed to the panel voted against dismissing the complaint, while maintaining that sanctions should be imposed in the case. The presence of a retired judge or attorney on the subcommittee was due to a 2022 rule change that was intended to allow for tie votes to be broken, said Randall Cherry, the Legislative Council Service's assistant director for legislative affairs. Before that change was made, several internal ethics probes stalled due to tie votes, according to legislators familiar with the investigations. Transparency issues and concerns One of the reasons the public is left in the dark about most legislative ethics investigations is the existence of confidentiality provisions in both state law and the Legislature's anti-harassment policy. Specifically, the policy stipulates that harassment complaints and documents related to any investigation shall be kept confidential, even under New Mexico's public records law. The confidentiality provision was challenged in a 2022 lawsuit filed by a lobbyist who had accused then-Sen. Daniel Ivey-Soto of sexual harassment. But the lawsuit was dismissed a year later. Amanda Lavin, the legal director of the New Mexico Foundation for Open Government, said citizen complaints are generally required to be made public under a Court of Appeals ruling. She also said the open government group believes any disciplinary action taken by the Legislature against its own members should be public information. But Lavin also pointed out the Legislature is not subject to New Mexico's Open Meetings Act, and state law allows legislators to hold certain types of meetings behind closed doors. "There are a lot of things they can discuss in private and then not even have to disclose what was discussed," Lavin said. Solve the daily Crossword

Republicans make gains in New Mexico voter registration, including in Santa Fe County
Republicans make gains in New Mexico voter registration, including in Santa Fe County

Yahoo

time24 minutes ago

  • Yahoo

Republicans make gains in New Mexico voter registration, including in Santa Fe County

While New Mexico remains solidly blue territory, Republicans continue to make gains in the state's voter registration rolls. The GOP even added more voters in Santa Fe County, one of the most liberal and Democratic-performing areas in the state. Granted, the 5.8% year-over-year increase in registered Republicans in Santa Fe County equates to only about 1,000 voters, but it reflects a statewide trend. The number of registered Republicans across New Mexico grew from 421,653 in July 2024 to 436,647 last month, an increase of nearly 15,000 voters, according to the latest voter registration data. At the same time, Democrats lost just over 11,000 voters. Despite Republicans' gains, the proportion of voters in each major political party remains relatively flat in the state, with Democrats accounting for about 43% of the electorate and Republicans 32% — although, the GOP added a percentage point and Democrats lost one. The increase in Republican voters may reflect a Democratic Party struggling to find its message, Brian Sanderoff, an Albuquerque political analyst and respected pollster, said Monday. "I think the Democratic Party is trying to find its way, especially at the national level, and that can impact voter registration statistics," he added. The Republican Party of New Mexico started the year with the ambitious goal of registering 25,000 new voters, and Sanderoff said it has been doing a good job registering voters at the "grassroots level." The party's executive director, Leticia Muñoz, said everything the party does revolves around voter outreach. "RPNM takes great pride in the work being done by grassroots volunteers to register voters around the state over the last 5 years," she said in a statement. Muñoz also credits the commander in chief. "President [Donald] Trumps' policies continue to benefit New Mexicans greatly, which is another reason we're seeing many voters registering Republican," she said. A spokesperson for the Democratic Party of New Mexico downplayed the increase in registered Republicans. "There is a significantly smaller number of Republicans in New Mexico anyway, so any percentage change will look more dramatic than the reality of the total numbers," Daniel Garcia said in a statement. "I suppose the New Mexico GOP has to spin something to look like good news," he added. "They're obviously in a tough place trying to explain why voters should support quid pro quo immunity deals for child predator Ghislaine Maxwell and the GOP's signature accomplishment — their unpopular 'Big Beautiful Bill' that will close hospitals, eliminate health care coverage, and take away food assistance right here in New Mexico. Not to mention they'll have to explain to voters why they think tariffs, inflation, and privatizing Social Security will make us 'great again.' ' Voter registration data shows a slight increase in independent or "decline-to-state" voters, a number that grew from 315,772 to 320,988. The percentage of unaffiliated voters has been rising over the past decade and a half, a trend that will likely continue after New Mexico adopted a "semi-open primary" system, which allows voters who don't state a party affiliation to cast a ballot in a Democratic or Republican primary without changing their registration. In the state's most populous counties — Bernalillo, Doña Ana and Santa Fe, which are crucial in a statewide race — Democrats have a comfortable edge over Republicans. In those three counties combined, there are 324,152 registered Democrats and 177,070 registered Republicans. Independents are closing in on Republicans, though. The data show 168,351 "decline-to-state" voters in those three counties. Muñoz said Republicans are intent on gaining even more ground. "RPNM will continue our goal to flip New Mexico," she said, adding it's taken six to eight years to flip other blue states red. Asked whether Republicans' gains would affect the governor's race next year, Sanderoff said changes in voter registration are used to measure the direction of the state, but he noted Democrats maintain an advantage. "If you're consistently seeing Republicans make voter registration gains and Democrats stagnating on voter registration statistics, that is a barometer that one looks at to measure the political mood," he said. "It can be a predictor, but it's all relative, and you still have the lopsided voter registration edge that the Democrats have in terms of the actual numbers."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store