U.S. Department Of Commerce (DOC)
Recent News About U.S. Department Of Commerce (DOC)
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President Biden's fiscal year 2025 budget will help boost American innovation
President Biden's proposed budget for the 2025 fiscal year aims to bolster American innovation and competitiveness, with a particular focus on the U.S. Department of Commerce. The budget outlines $4 billion in mandatory funding and $11.4 billion in discretionary funding, earmarked to support the essential priorities of the Commerce Department.
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Intel awarded $8.5 billion in support of growing the US Semiconductor Industry
The U.S. Department of Commerce has granted Intel a sum of $8.5 billion through the Investing in America Agenda for initiating projects in Arizona, New Mexico, Ohio, and Oregon. This investment, facilitated under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, aims to fortify the supply chain of the U.S. Semiconductor Industry as the nation seeks to broaden its domestic market.
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Taxpayers Protection Alliance President: ‘Absolutely ridiculous’ that ‘Congress has no oversight’ of CFPB
David Williams, president of the Taxpayers Protection Alliance (TPA) said it is “absolutely ridiculous” that “Congress has no oversight” of the Consumer Financial Protection Bureau (CFPB).
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Plastics Industry Association releases tenth video in its 'Recycling is Real' campaign
The Plastics Industry Association (PLASTICS) has unveiled the tenth video in its "Recycling is Real" campaign. The campaign aims to promote and raise awareness about plastic recycling in the United States.
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AFSA President: ‘All we’re asking is that the CFPB fulfill its responsibility and give us clear rules to follow’
The president and CEO of the American Financial Services Association (AFSA) today asked the Consumer Financial Protection Bureau (CFPB) to use “the well-accepted administrative rulemaking process” instead of what he said are “one-off and nontransparent enforcement proceedings.”
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Funding for US semiconductor packaging is being expanded under the CHIPS for America Act
The U.S. Department of Commerce has declared that the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act is allocating funds to provide opportunities for companies to expand U.S. Semiconductor Packaging. The fresh funding aims to solicit applications for research and development that will aid in expediting the domestic capacity for advanced packaging substrates, a critical technology for manufacturing semiconductors.
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ATA's Intermodal Motor Carriers Conference welcomes rule clarifying how detention and demurrage charges are billed
The Intermodal Motor Carriers Conference (IMCC) of the American Trucking Association (ATA) has expressed approval for a new rule by the Federal Maritime Commission (FMC). This rule provides clarification on how shippers are billed for detention and demurrage charges. Both the IMCC and ATA had previously urged Congress to provide this clarification during the passage of the Ocean Shipping Reform Act in 2022.
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AGA report shows US commercial gaming revenue rose for a third straight year
The American Gaming Association (AGA) has reported that commercial gaming revenue in the United States reached a total of $66.5 billion in 2023. This figure represents a 10% increase from the $60.5 million generated in 2022, marking the third consecutive year of record revenue.
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United States partners with Global Foundries to strengthen domestic supply of microchips
The United States Department of Commerce has announced a preliminary agreement with Global Foundries, aiming to bolster the domestic microchip supply. The agreement includes $1.5 billion in potential funding to support projects in New York and Vermont, expected to create approximately 10,500 jobs.
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The US Department of Commerce has released an update to their Equity Action Plan
The United States Department of Commerce has published an update to its 2023 Equity Action Plan, outlining new commitments aimed at promoting equity. The Equity Action Plan forms part of the Department's initiatives to ensure equal opportunities for all Americans.
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Report by the Consumer Financial Protection Bureau shows that large banks are charging higher interest rates than small banks
A recent report by the Consumer Financial Protection Bureau (CFPB) reveals that large banks have been imposing significantly higher interest rates compared to smaller banks and credit unions. This discrepancy in rates is causing the average borrower to lose substantial purchasing power.
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Associations petition White House to improve implementation of made in America requirements
A group of national trade associations has appealed to the White House, seeking improvements in the execution of the "made in America" stipulations for construction materials and products. The coalition expressed difficulties in navigating what they termed as the "opaque and unbalanced implementation" by the White House Office of Management and Budget (OMB).
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Marco Rubio and Rick Scott highlight threats posed by foreign third-party litigation funding
U.S. Senators Marco Rubio (R-Fla.) and Rick Scott (R-Fla.) have penned letters to the chief judges of Florida's three federal districts, emphasizing the threats to the U.S. judicial system presented by foreign third-party litigation funding (TPLF). The senators expressed that the federal judiciary requires increased transparency around foreign TPLF to avert "hostile foreign actors" from influencing litigation.
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FTC's proposed rule prohibiting junk fees would cost restaurant industry billions to change menus
The National Restaurant Association and the Restaurant Law Center have petitioned the Federal Trade Commission (FTC) to exempt restaurants from its proposed regulation on deceptive fees. In their joint comments submitted on the proposal, these organizations argue that a blanket ban on concealed and misleading fees would be "unwarranted, unlawful, and would create significant unintended consequences for consumers."
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United States is investing $5 billion into CHIPS R&D Investments
The United States is making strides to reduce the barriers of entry into the research and development process of semiconductors, with an investment exceeding $5 billion in the Creating Helpful Incentives to Produce Semiconductors (CHIPS) R&D Investments. This includes the establishment of the National Semiconductor Technology Center (NSTC).
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American Psychological Association appoints Guillermo Corea as chief business innovation and growth officer
The American Psychological Association (APA) has recently announced the appointment of Guillermo Corea as its Chief Business Innovation and Growth Officer. This newly created role will see Corea leading revenue-generating strategies for both APA and APA Services, Inc. (APASI).
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National Association of Manufacturers applauds House passing tax relief bill
Jay Timmons, President and CEO of the National Association of Manufacturers (NAM), and Courtney Silver, Chair of NAM Small and Medium Manufacturers Group, have expressed their appreciation to House Speaker Mike Johnson and Ways and Means Committee Chairman Jason Smith for their efforts in ensuring the passage of the Tax Relief for American Families and Workers Act in the House. They further urged the Senate to expedite the passage of this legislation.
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The Indo-Pacific Economic Framework for Prosperity will enter into force on February 24 2024
The United States Department of Commerce has announced that the United States will be a part of the Indo-Pacific Economic Framework for Prosperity (IPEF), which is set to enter into force on February 24, 2024. The aim of this framework is to fortify the supply chains of the 14 IPEF partners.
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Consumer Federation of America report finds low-income drivers pay more for car insurance
The Consumer Federation of America (CFA), a non-profit organization dedicated to advancing consumer interests, has published a report suggesting that drivers with low incomes often pay more for car insurance. Authored by Douglas Heller, the CFA's Director of Insurance, and Michael DeLong, a Research and Advocacy Associate, the report was released in 2023.
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David Williams, Taxpayers Protection Alliance president: 'Mass tort litigation has gotten out of control'
David Williams, president of the Taxpayers Protection Alliance (TPA), a non-profit organization dedicated to analyzing the government's impact on the economy, has raised concerns about third-party investors backing mass tort lawsuits while remaining anonymous. According to Williams, this practice will continue to cost the American public money until policymakers change regulations.