NEWS FROM THE US CHAMBER OF COMMERCE
Clearing the Way for Energy InnovatorsBlog post by THOMAS J. DONOHUE President and CEO, U.S. Chamber of Commerce
https://www.uschamber.com/above-the-fold/clearing-the-way-energy-innovators
The regulatory rollback continues in Washington, and the latest victories come not a moment too soon for many American businesses. Two actions by Environmental Protection Agency (EPA) Administrator Scott Pruitt will help rein in Obama-era environmental rules that had hovered ominously over key U.S. industries, such as energy, for far too long.
The U.S. Chamber of Commerce applauded Administrator Pruitt’s announcement that he would end the so-called sue and settle scheme, which allowed special interest groups to sue EPA in an attempt to force it to take action on their pet issues. Instead of fighting these lawsuits in the courts, EPA usually settled behind closed doors, allowing outside advocacy groups to take control of the agency’s regulatory priorities. Activist organizations successfully used this tactic over a hundred times to force certain outcomes without any public oversight or involvement.
While Administrator Pruitt’s executive action immediately halts the sue and settle gambit, it’s important that Congress also takes legislative action. Otherwise, future administrations could easily revive this abusive practice. That’s why the Chamber has long pushed the Sunshine for Regulations and Regulatory Decrees and Settlements Act, which would help Congress reassert its control over federal regulatory actions. The House passed the bill last month, and the Chamber encourages the Senate to quickly follow suit.
In another welcome move, Administrator Pruitt announced a proposal to repeal the Clean Power Plan (CPP), which would have raised the cost of energy without regard to the impact on families and businesses. The Chamber fought back against the rule for years, including leading a lawsuit along with 28 states and 160 petitioners that resulted in the Supreme Court granting an unprecedented stay to block its implementation.
Now that outright repeal is on the table, we stand ready to work with EPA and all stakeholders to come up with a durable and effective approach to reducing greenhouse gas emissions. Through private sector-led innovation, technology, and ingenuity, America’s energy innovators can make all energy sources cleaner and more affordable.
These latest actions have been met with a sigh of relief from businesses large and small, and so have many other deregulatory efforts from the administration this year. The Chamber has long fought against harmful rules—and in favor of smart, balanced rules—for the simple reason that a heavy-handed regulatory approach fuels uncertainty, stalls hiring, and chokes growth. Now that the government is starting to get out of the way, businesses can focus on what they do best—creating jobs and growing the economy.
US LABOR DEPT: U.S. SECRETARY OF LABOR ACOSTA COMMENTS ON NATIONAL APPRENTICESHIP WEEK
https://www.dol.gov/newsroom/releases/osec/osec20171113
WASHINGTON, DC – U.S. Secretary of Labor Alexander Acosta today welcomed the start of National Apprenticeship Week, a nationwide opportunity for companies, trade and industry groups, nonprofit organizations, unions, labor-management organizations, and educational institutions to highlight how apprenticeship programs can address the nation’s skills gap. President Donald J. Trump has proclaimed November 13 – 19 as National Apprenticeship Week.
“National Apprenticeship Week highlights how apprenticeship programs can help Americans learn the skills they need for success in the jobs of today and tomorrow. By increasing the number of apprenticeships, more Americans will be on the path to family-sustaining jobs,” said Secretary Acosta. “Hundreds of National Apprenticeship Week events are scheduled across the nation to show how apprenticeships work. I hope these demonstrations raise awareness of apprenticeships and encourage more Americans to adopt this proven model.”
To help Americans obtain relevant skills and family-sustaining jobs, President Trump issued an Executive Order Expanding Apprenticeships in America. Apprenticeships provide paid, relevant workplace experiences and opportunities to develop skills that job creators demand. Hundreds of companies—big and small, across industries—have shown an interest in apprenticeships since President Trump signed his Executive Order.
The President’s Executive Order called for the Secretary of Labor to establish a Task Force on Apprenticeship Expansion. This afternoon, the first meeting of the Task Force will take place at the Department of Labor in Washington.
National Apprenticeship Week events and activities include: apprenticeship program open houses, skills competitions, community forums, apprentice graduations, business open houses, high school or college career fairs, industry roundtable events, and more.
IRS PRESS RELEASE: Get Ready for Taxes: Plan Ahead for 2018 Filing Season to Avoid Refund Delays
https://www.irs.gov/newsroom/get-ready-for-taxes-plan-ahead-for-2018-filing-season-to-avoid-refund-delays
IR-2017-185, Nov. 7, 2017
WASHINGTON –The Internal Revenue Service today advised taxpayers about steps they can take now to ensure smooth processing of their 2017 tax return and avoid a delay in getting their refund next year. This is the first in a series of reminders to help taxpayers get ready for the upcoming tax filing season. Additionally, the IRS has a special page on its website with steps to take now for the 2018 tax filing season.
Gather Documents
The IRS urges all taxpayers to file a complete and accurate tax return by making sure they have all the documents before they file their return, including their 2016 tax return. This includes Forms W-2 from employers, Forms 1099 from banks and other payers, and Forms 1095-A from the Marketplace for those claiming the Premium Tax Credit. Doing so will help avoid refund delays and the need to file an amended return later. Confirm that each employer, bank or other payer has a current mailing address.
Typically, these forms start arriving by mail in January. Check them over carefully, and if any of the information shown is inaccurate, contact the payer right away for a correction.
Taxpayers should keep a copy of their 2016 tax return and all supporting documents for a minimum of three years. Doing so will make it easier to fill out a 2017 return next year. In addition, taxpayers using a software product for the first time may need the Adjusted Gross Income (AGI) amount from their 2016 return to properly e-file their 2017 return. Learn more about verifying identity and electronically signing a return at Validating Your Electronically Filed Tax Return.
Renew Expiring ITINs
Some people with an Individual Taxpayer Identification Number (ITIN) may need to renew it before the end of the year. Doing so promptly will avoid a refund delay and possible loss of key tax benefits.
Any ITIN not used on a tax return in the past three years will expire on Dec. 31, 2017. Similarly, any ITIN with middle digits 70, 71, 72 or 80 will also expire at the end of the year. Anyone with an expiring ITIN who plans to file a return in 2018 will need to renew it using Form W-7.
Once a completed form is filed, it typically takes about seven weeks to receive an ITIN assignment letter from the IRS. But it can take longer — nine to 11 weeks -- if an applicant waits until the peak of the filing season to submit this form or sends it from overseas. Taxpayers should take action now to avoid delays.
Taxpayers who fail to renew an ITIN before filing a tax return next year could face a delayed refund and may be ineligible for certain tax credits. For more information, visit the ITIN information page on IRS.gov.
Refunds Held for Those Claiming EITC or ACTC Until Mid-Feb
By law, the IRS cannot issue refunds for people claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February. The law requires the IRS to hold the entire refund — even the portion not associated with EITC or ACTC. The IRS expects the earliest EITC/ACTC related refunds to be available in taxpayer bank accounts or debit cards starting on Feb. 27, 2018, if direct deposit was used and there are no other issues with the tax return. This additional period is due to several factors, including the Presidents Day holiday and banking and financial systems needing time to process deposits. This law change, which took effect at the beginning of 2017, helps ensure that taxpayers receive the refund they’re due by giving the IRS more time to detect and prevent fraud.
As always, the IRS cautions taxpayers not to rely on getting a refund by a certain date, especially when making major purchases or paying bills. Though the IRS issues more than nine out of 10 refunds in less than 21 days, some returns require further review.
For a Faster Refund, Choose e-file
Electronically filing a tax return is the most accurate way to prepare and file. Errors delay refunds and the easiest way to avoid them is to e-file. Nearly 90 percent of all returns are electronically filed. There are several e-file options:
IRS Free File,
Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs,
Commercial tax preparation software, or
Tax professional.
Use Direct Deposit.
Combining direct deposit with electronic filing is the fastest way for a taxpayer to get their refund. With direct deposit, a refund goes directly into a taxpayer’s bank account. There’s no reason to worry about a lost, stolen or undeliverable refund check. This is the same electronic transfer system now used to deposit nearly 98 percent of all Social Security and Veterans Affairs benefits. Nearly four out of five federal tax refunds are direct deposited.
Direct deposit saves taxpayer dollars. It costs the nation’s taxpayers more than $1 for every paper refund check issued but only a dime for each direct deposit.
THE FED: Agencies announce annual indexing of exempt consumer credit and lease transactions in 2018--press release date 11/ 8/ 17
https://www.federalreserve.gov/newsevents/pressreleases/bcreg20171108a.htm
The Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) today announced the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer credit and lease transactions in 2018. These thresholds are set pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amendments to the Truth in Lending Act and the Consumer Leasing Act that require adjusting these thresholds annually based on the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). If there is no annual percentage increase in the CPI-W, the Federal Reserve Board and the CFPB will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage change in CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Transactions at or below the thresholds are subject to the protections of the regulations.
Based on the annual percentage increase in the CPI-W as of June 1, 2017, the protections of the Truth in Lending Act and the Consumer Leasing Act generally will apply to consumer credit transactions and consumer leases of $55,800 or less in 2018. However, private education loans and loans secured by real property (such as mortgages) are subject to the Truth in Lending Act regardless of the amount of the loan.
Although the Dodd-Frank Act generally transferred rulemaking authority under the Truth in Lending Act and the Consumer Leasing Act to the CFPB, the Federal Reserve Board retains authority to issue rules for certain motor vehicle dealers. Therefore, the agencies are issuing these notices jointly.
US TREASURY DEPT. PRESS RELEASE: Treasury Sanctions Ten Venezuelan Government Officials (dated 11/ 9/ 17)
https://www.treasury.gov/press-center/press-releases/Pages/sm0214.aspx
Washington – Today, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated ten current or former Venezuelan government officials pursuant to Executive Order (E.O.) 13692. These individuals are associated with undermining electoral processes, media censorship, or corruption in government-administered food programs in Venezuela. This designation follows October 15, 2017 state elections in Venezuela, which were marked by numerous irregularities that strongly suggest fraud helped the ruling party unexpectedly win a majority of governorships.
Despite calls for an independent audit of the election results, the Venezuelan government proceeded to swear in the winning candidates through an oath of office before the illegitimate Constituent Assembly (Asamblea Constituyente or AC), further illustrating the authoritarian nature of the Maduro regime. In addition, the environment in which these elections were held – including censorship, the abuse of state media, and rampant corruption extending even to the distribution of food to Venezuela's starving population – raises questions concerning the freedom and fairness of the electoral process.
"As the Venezuelan government continues to disregard the will of its people, our message remains clear: the United States will not stand aside while the Maduro regime continues to destroy democratic order and prosperity in Venezuela," said Secretary of the Treasury Steven T. Mnuchin. "We will maintain our vigorous efforts to sanction Venezuelan government officials who are complicit in Maduro's attempts to undermine democracy, violate human rights, inhibit the freedom of expression or peaceful assembly, or engage in public corruption, unless they break from Maduro's dictatorial regime."
Today's designations consist of the following ten current or former officials of the Government of Venezuela. As a result of today's actions, all assets of these individuals subject to U.S. jurisdiction are frozen, and U.S. persons are generally prohibited from dealing with them.
U.S. Secretary of Commerce Wilbur Ross Announces Hundreds of Billions in Deals Between U.S. Companies and Chinese Entities
Press release issued 11/ 9/ 17
https://www.commerce.gov/news/press-releases/2017/11/us-secretary-commerce-wilbur-ross-announces-hundreds-billions-deals
Today, U.S. Secretary of Commerce Wilbur Ross announced the signing of approximately a quarter trillion dollars in deals facilitated by the Department of Commerce between private U.S. businesses and Chinese entities. The agreements, most of which occurred as part of the U.S. Department of Commerce’s 2017 U.S. CEO Delegation to China, will bring thousands of new jobs to America.
“American businesses are the most innovative in the world, and, when given access, can compete with anyone,” said Secretary Ross. “I believe these deals can provide a solid foundation for a stronger relationship that is more free, fair, and reciprocal between the U.S. and China.”
Addressing the imbalance in U.S.-China trade has been a central focus of discussions between President Trump and President Xi since their first meeting at Mar-a-Lago in April. Today they joined each other at the Great Hall of the People to witness the signing of fifteen of the largest agreements.
“It was a great honor for these to be witnessed by President Trump and President Xi today,” continued Secretary Ross. “A special thank you to our CEO Delegation for their hard work in support of this historic event.”
The Delegation participated in two days of productive exchanges with Chinese businesses and government officials where they advocated for American business interests. They also established relationships that will pay dividends far into the future.
U.S. Department of Commerce Issues Affirmative Final Countervailing Duty Determinations on Biodiesel from Argentina and Indonesia
Press release issued 11/ 9/ 17
https://www.commerce.gov/news/press-releases/2017/11/us-department-commerce-issues-affirmative-final-countervailing-duty
Today, the U.S. Secretary of Commerce Wilbur Ross announced the affirmative final determinations in the countervailing duty (CVD) investigations of imports of biodiesel from Argentina and Indonesia.
Commerce determined that Argentina and Indonesia are providing unfair subsidies to its producers of biodiesel at rates from 71.45 to 72.28 percent and 34.45 to 64.73 percent, respectively.
As a result of today’s decision, Commerce will instruct U.S. Customs and Border Protection (CBP) to collect cash deposits from importers of biodiesel from Argentina and Indonesia based on the final rates.
“The unfair government subsidization of products is something the Department takes very seriously,” said Secretary Ross. “While the United States is committed to free, fair and reciprocal trade with all countries, the Trump Administration will stand up for American workers and companies being unfairly harmed.”
In 2016, imports of biodiesel from Argentina and Indonesia were valued at an estimated $1.2 billion and $268 million, respectively.
The petitioner is the National Biodiesel Fair Trade Coalition, an ad hoc association composed of the National Biodiesel Board and 15 domestic producers of biodiesel.
The countervailing duty laws provide U.S. businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfairly subsidized imports into the United States.
Enforcement of U.S. trade law is a prime focus of the Trump administration. From January 20, 2017, through November 9, 2017, Commerce has initiated 77 antidumping and countervailing duty investigations – a 61 percent increase from 48 in the previous year.
CVD laws provide U.S. businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfairly subsidized imports into the United States. Commerce currently maintains 412 antidumping duty and CVD orders which provide relief to American companies and industries impacted by unfair trade.
If the U.S. International Trade Commission (ITC) makes affirmative final injury determinations, Commerce will issue CVD orders. If the ITC makes negative final determinations of injury, the investigations will be terminated and no orders will be issued.
WORLD AND NATIONAL HEADLINES FROM REUTERS...
Strong earthquake hits Iraq and Iran, killing more than 400
ANKARA/BAGHDAD (Reuters) - More than 400 people were killed in Iran when a magnitude 7.3 earthquake jolted the country, state media said on Monday, and rescuers were searching for dozens trapped under rubble in the mountainous area. At least six have died in Iraq as well.
Iran sticks to key limits of nuclear deal: U.N. watchdog report
VIENNA (Reuters) - Iran has remained within the main limits on its nuclear activity set by its 2015 deal with six world powers, the U.N. atomic watchdog said in its first report since U.S. President Donald Trump decertified Iranian compliance with the terms.
U.S. top court to hear dispute over California pregnancy center law
WASHINGTON (Reuters) - The U.S. Supreme Court on Monday agreed to decide whether a California law requiring private facilities that counsel pregnant women against abortion to post signs telling clients how to get state-funded abortions and contraceptives violates free speech rights.
Former U.S. Vice President Biden leaves open door to 2020 run
WASHINGTON (Reuters) - Former U.S. Vice President Joe Biden on Monday left the door open to a presidential run to challenge Republican President Donald Trump in the 2020 election and said he is focused now on boosting Democrats in the 2018 midterm races.
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1 Peter 2:15-16 NKJV
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