All posts tagged: Sens

Sens. Warren, Kelly press Trump on effects of tariffs on manufacturing

Sens. Warren, Kelly press Trump on effects of tariffs on manufacturing

Published by Sam Flores

Sen. Elizabeth Warren D-Mass., and Sen. Mark Kelly, D-Ariz. Michael M. Santiago | Tom Williams | CQ-Roll Call, Inc. |Getty Images Despite President Donald Trump’s promises of a manufacturing boom in his second administration, two Democratic senators are arguing in a letter to the administration — and shared first with CNBC — that the president’s policies have created more hardship for U.S. workers. Sens. Elizabeth Warren, D-Mass., and Mark Kelly, D-Ariz., wrote on Monday to U.S. Trade Representative Jamieson Greer, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, questioning Trump’s trade policy and asking all three to explain the country’s growing trade deficit on manufactured goods.  “Blue-collar jobs are disappearing, a trend that economists blame at least in part on the president’s historic and volatile tariff policy,” the lawmakers wrote. “The Trump Administration’s trade agenda has favored the interests of wealthy corporations and Trump allies, leaving manufacturing workers behind.” Read more CNBC politics coverage Spokespeople for Greer, Bessent and Lutnick did not immediately respond to a request for comment. Kelly and Warren have both …

Key Sens. Cruz, Cantwell Look to Break College Sports Logjam in Congress With a Bipartisan Bill

Key Sens. Cruz, Cantwell Look to Break College Sports Logjam in Congress With a Bipartisan Bill

Published by Sam Flores

WASHINGTON (AP) — Two key senators involved in a long-simmering debate over fixing college sports will introduce a bipartisan bill designed to break a congressional logjam that would regulate payments to players, limit them to one “free” transfer over their careers and create a “Lane Kiffin Rule” to restrict coach movement during the season. Sens. Ted Cruz, R-Texas, and Maria Cantwell, D-Wash., the chair and ranking member of the Senate Commerce Committee that oversees college sports, briefed The Associated Press on details of the bill they crafted in hopes it can get the 60 votes needed to clear the Senate. “This is a stability bill, not just an NIL bill,” Cruz said, referencing the name, image and likeness payments that have led to football rosters with $30 million payrolls and reshaped the industry. Cantwell said she and Cruz teamed up on the legislation “because he and I really do believe the college sports system is in a bit of chaos.” The bill looks very much like the “best of” from a pair of legislative proposals …

Kalshi, Polymarket insider trading rules not enough: Sens. Schiff, Curtis

Kalshi, Polymarket insider trading rules not enough: Sens. Schiff, Curtis

Published by Sam Flores

A pair of bipartisan senators on Wednesday said they won’t drop their push to ban sports prediction market contracts, despite Kalshi and Polymarket announcing new insider trading restrictions on their platforms. “It’s got to be more than an aspirational statement by these companies,” Sen. Adam Schiff, D-Calif., told CNBC’s “Squawk Box” when asked about those platforms’ self-imposed new rules. Kalshi on Monday said it would preemptively block politicians, athletes and “other relevant people” from betting on their own campaigns or sporting events. The same day, Polymarket announced it would impose its own guardrails to address insider trading and market manipulation. The new restrictions came as Schiff and Sen. John Curtis, R-Utah, introduced legislation that would give states, rather than federal regulators, control over sports betting and casino-style games. The bill would prohibit Commodity Futures Trading Commission-registered entities from listing any such prediction contract. In a joint CNBC interview Wednesday morning, the senators said the companies’ efforts to police themselves are insufficient. “I don’t think it’s enough,” Schiff said. “It’s one thing to say, ‘This is our policy.’ It’s …