Latest news with #AngelaAlsobrooks
CBS News
5 days ago
- Politics
- CBS News
Maryland lawmakers react to U.S. bombings of Iran nuclear sites; several call strikes unconstitutional
Maryland lawmakers say Congress and other federal leaders were caught off guard by President Trump's order for the U.S. to bomb three nuclear sites in Iran. Rep. Johnny Olszewski told WJZ the White House should have given Congress a voice, or at least a warning, before the strike, which has been named "Operation Midnight Hammer." Pentagon officials said seven B-2 Spirit bombers were deployed from Whiteman Air Force Base in Missouri to Iran. Another group of B-2s flew west over the Pacific to act as decoys, officials said. Gen. Dan Caine, the chairman of the Joint Chiefs of Staff, called it the "largest B-2 operational strike in U.S. history" and said it inflicted "extremely severe damage and destruction" to the targets. "Even the senior-most leaders of Congress weren't even notified until after the attack was completed and the planes were out of Iranian airspace," Olszewski said. "So what I know is that to date, there has been no briefing, no intelligence shared, neither with ranking file members of Congress nor leadership, whether that's the Foreign Affairs Committee, the Intelligence Committee, or the House and Senate leaders." "This is deeply concerning that the president is taking action without sharing the rationale with both members of Congress, but also the American people." "Unconstitutional" attacks Maryland Senator Angela Alsobrooks called the president's surprise attacks "unconstitutional" and said that these actions threaten war. "Only Congress has the power to declare war," Alsobrooks said. "(Mr. Trump's) dramatic escalation has put American servicemembers and the American citizenry at risk." Alsobrooks continued, "The path to ensuring Iran does not acquire a nuclear weapon — an objective we all share — is paved with diplomacy. The President has bragged for years about his dealmaking prowess. Now he must prove his mettle." Maryland Rep. Kweisi Mfume said the president "failed to abide by the Constitution." "By not consulting Congress before taking unilateral military action, Donald Trump has once again failed to abide by the Constitution," Mfume said. "He promised to bring peace to the Middle East. He is falling short on that promise." Maryland Senator Chris Van Hollen said the administration's attack on Iran puts American lives in danger, with the fear of potential retaliation. "Trump said he would end wars; now he has dragged America into one," Van Hollen said. "His actions are a clear violation of our Constitution — ignoring the requirement that only Congress has the authority to declare war. While we all agree that Iran must not have a nuclear weapon, Trump abandoned diplomatic efforts to achieve that goal and instead chose to unnecessarily endanger American lives, further threaten our armed forces in the region, and risk pulling America into another long conflict in the Middle East." Van Hollen added, "The U.S. intelligence community has repeatedly assessed that Iran is not building a nuclear weapon. There was more time for diplomacy to work." Supporting the bombing of Iran Maryland Democratic Rep. Steny Hoyer supported the strikes, calling them essential to prevent Iran from getting nuclear weapons, while criticizing Mr. Trump's first-term decision to toss out the previous deal that had been negotiated under former President Barack Obama. "The U.S. strike was essential," Hoyer said. "Sadly, the threat of a nuclear-armed Iran became this dire because the Trump administration chose to back out of the Joint Comprehensive Plan of Action in 2018." Maryland Republican Rep. Andy Harris also supported the president's bombing operation, claiming that destroying Iran's nuclear weapons will save lives. "The U.S. took decisive action to destroy Iran's nuclear capability, protecting lives, our allies, and global stability," Harris said. "This is peace through strength."
Forbes
19-06-2025
- Business
- Forbes
U.S. Senate Has Advanced Stablecoin Legislation, Now What?
A vote of the full Senate Chamber on Tuesday green-lighted stablecoin legislation for the next phase, which is a vote on the House floor. 'Today marks the first time the Senate has ever passed comprehensive legislation to address digital assets. I am excited by this emerging technology and will continue to work with my colleagues on both sides of the aisle to keep America and Americans at the forefront,' said Senator Angela Alsobrooks (MD), who is an original cosponsor of the Guiding and Establishing National Innovation for U.S. Stablecoins Act. Senate proceedings were relatively drama free, compared to previous markups and committee deliberations. It was heralded as significant that 18 Democrats joined Republicans to clinch the win. 'With the GENIUS Act's passage, we are meaningfully closer to a stablecoin regulatory landscape in the U.S. that provides clear rules of the road, protects consumers, and holds bad actors accountable. I look forward to seeing this bill pass the House with equally strong bipartisan support and get signed into law,' touted Senator Ruben Gallego (AZ), Ranking Member of the Senate Banking Digital Assets Subcommittee. The passage is largely viewed as a major victory, but it is just one of the many steps in the journey of how a bill becomes a law. A key point of friction in ongoing policy negotiations has been the Trump family's crypto business dealings. The GENIUS Act includes a measure prohibiting Members of Congress and their families from profiting from stablecoins, but that ban does not extend to President Trump and his family. All eyes will be on the House voting schedule when they are back in session next week. In April, the Financial Services Committee passed their version of the bill, the Stablecoin Transparency and Accountability for a Better Ledger Economy Act. The fastest track to the President's desk would be to amend that bill to mirror the Senate. Interestingly, there has been rumblings about a push to fold the Digital Asset Market Clarity Act into the House stablecoin proposal as a twofer. The Agriculture and Financial Services Committees both advanced the market structure bill last week. And a reconciled package is expected to be ready for a House for a vote soon. But in a surprise twist, President Trump last night fired off a missive over social media calling for a clean bill with 'no delays, no add ons,' essentially throwing an Executive Branch wrench into the bipartisan Congressional debate. These are lofty and complex goals, considering the spending bill is still languishing in Congress and is a time sensitive priority. Additionally, stablecoin legislation is far from settled. It will not only be the crypto industry advocating for provisions to be added to a final legislative package. In response to the passage of the GENIUS Act, American Bankers Association President and CEO Rob Nichols remarked, 'we will continue to work with lawmakers to pursue a final stablecoin bill that embraces innovation without undermining our nation's resilient and trusted financial system and the critical role banks play in the economy.' It is clear that the path forward will continue to have challenges beyond getting time on the House schedule before the August recess. As Congress gets closer to a framework for the crypto industry that fosters global competitiveness, policymakers will need to find ways to reconcile accelerating innovation, prioritizing ethics, with mitigating risk to market participants.
Bloomberg
18-06-2025
- Politics
- Bloomberg
Balance of Power Late Edition 6/17/2025
"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Retired Air Force Lieutenant General David Deptula - Dean of the Mitchell Institute for Aerospace Power Studies - discusses the escalation between Israel and Iran and how President Trump might respond. Senator Ron Johnson (R) Wisconsin talks about why he cannot vote for the current Tax Bill as it stands, and Senator Angela Alsobrooks (D) Maryland discusses the Senate passing the Genius Act and talks about the impact this legislation will have. (Source: Bloomberg)
Bloomberg
17-06-2025
- Business
- Bloomberg
What's The Impact of Senate Passing Stablecoin Bill?
Senator Angela Alsobrooks (D) Maryland discusses the Senate passing the Genius Act and talks about the impact this legislation will have. She also voices her concerns on the Tax Bill and why Senate Democrats are not in support of the legislation. Senator Alsobrooks speaks with Julie Fine and Joe Mathieu on the late edition of Bloomberg's 'Balance of Power.' (Source: Bloomberg)
Fast Company
17-06-2025
- Business
- Fast Company
The Senate is expected to pass this crypto bill without addressing Trump's investments
The Senate is expected to approve legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what is expected to be a wave of crypto legislation from Congress that the industry hopes will bolster its legitimacy and reassure consumers. The fast-moving legislation, which will be sent to the House for potential revisions, comes on the heels of a 2024 campaign cycle where the crypto industry ranked among the top political spenders in the country, underscoring its growing influence in Washington and beyond. Eighteen Democratic senators have shown support for the legislation as it has advanced, siding with the Republican majority in the 53–47 Senate. If passed, it would become the second major bipartisan bill to advance through the Senate this year, following the Laken Riley Act on immigration enforcement in January. Still, most Democrats oppose the bill. They have raised concerns that the measure does little to address President Donald Trump's personal financial interests in the crypto space. 'We weren't able to include certainly everything we would have wanted, but it was a good bipartisan effort,' said Sen. Angela Alsobrooks, D-Md., on Monday. She added, 'This is an unregulated area that will now be regulated.' Known as the GENIUS Act, the bill would establish guardrails and consumer protections for stablecoins, a type of cryptocurrency typically pegged to the U.S. dollar. The acronym stands for 'Guiding and Establishing National Innovation for U.S. Stablecoins.' It's expected to pass Tuesday, since it only requires a simple majority vote—and it already cleared its biggest procedural hurdle last week in a 68–30 vote. But the bill has faced more resistance than initially expected. There is a provision in the bill that bans members of Congress and their families from profiting off stablecoins. But that prohibition does not extend to the president and his family, even as Trump builds a crypto empire from the White House. Trump hosted a private dinner last month at his golf club with top investors in a Trump-branded meme coin. His family holds a large stake in World Liberty Financial, a crypto project that provides yet another avenue where investors are buying in and enriching the president's relatives. World Liberty has launched its own stablecoin, USD1. The administration is broadly supportive of crypto's growth and its integration into the economy. Treasury Secretary Scott Bessent last week said the legislation could help push the U.S. stablecoin market beyond $2 trillion by the end of 2028. Brian Armstrong, CEO of Coinbase —the nation's largest crypto exchange and a major advocate for the bill—has met with Trump and praised his early moves on crypto. This past weekend, Coinbase was among the more prominent brands that sponsored a parade in Washington commemorating the Army's 250th anniversary—an event that coincided with Trump's 79th birthday. But the crypto industry emphasizes that they view the legislative effort as bipartisan, pointing to champions on each side of the aisle. 'The GENIUS Act will be the most significant digital assets legislation ever to pass the U.S. Senate,' Senate Banking Committee Chair Tim Scott, R-S.C., said ahead of a key vote last week. 'It's the product of months of bipartisan work.' The bill did hit one rough patch in early May, when a bloc of Senate Democrats who had previously supported the bill reversed course and voted to block it from advancing. That prompted new negotiations involving Senate Republicans, Democrats and the White House, which ultimately produced the compromise version expected to win passage Tuesday. 'There were many, many changes that were made. And ultimately, it's a much better deal because we were all at the table,' Alsobrooks said. Still, the bill leaves unresolved concerns over presidential conflicts of interest—an issue that remains a source of tension within the Democratic caucus. Sen. Elizabeth Warren, D-Mass., has been among the most outspoken as the ranking member on the Senate Banking Committee, warning that the bill creates a 'super highway' for Trump corruption. She has also warned that the bill would allow major technology companies, such as Amazon and Meta, to launch their own stablecoins. If the stablecoin legislation passes the Senate on Tuesday, it still faces several hurdles before reaching the president's desk. It must clear the narrowly held Republican majority in the House, where lawmakers may try to attach a broader market structure bill—sweeping legislation that could make passage through the Senate more difficult. Trump has said he wants stablecoin legislation on his desk before Congress breaks for its August recess, now just under 50 days away.
