WHAT WAS STRIPPED from the original bipartisan budget bill?
o Crackdown on junk fees
o A fix for stolen food stamp funds
o Money for children’s cancer research
o Curtailing Pharmaceutical Benefit Managers (PBM)
o Criminalization of revenge porn and some deepfake images
o Restriction on investments in China
o Cost-of-living pay raise for Congress
The items that were stripped out had negligible, if any, budgetary impact. In fact, PBM reform would have saved patients and taxpayers significant money by curtailing the greed of Pharmaceutical Benefit Managers. Although removed from the bill, funding for pediatric cancer research was approved separately.
Two items on this list were set to have an impact on the business operations of Elon Musk. First, the original bipartisan bill required X and other social media sites to implement policies to deal with revenge porn and certain deepfake images. Second, Musk would have seen the proposed restriction on investments in China as problematic.
Democrat Rosa DeLauro (CT-03) has accused Elon Musk of pushing Speaker Mike Johnson to kill the initial bipartisan spending proposal that was agreed to – precisely because it would have imposed new regulations on his considerable investments in China.
Tesla’s gigafactory in Shanghai accounts for half of its worldwide car production. In addition, Chinese factories produce over 90 percent of the parts for Tesla cars. Moreover, Tesla has roughly 300 stores throughout China.
Axing the revenge porn and cancer research is disgusting, but on its face (I don't know the details) I think enabling American investment in China is good policy for a variety of reasons (the Chinese have clearly set their sights on investing/buying property in the U.S.)
If DeLauro is correct, and Musk’s objections to new regulations on investments in China was his reason for manipulating the House to kill this bill – and having the power to do so! – then I would say that is worrisome in the extreme.
WHAT WAS STRIPPED from the original bipartisan budget bill?
o Crackdown on junk fees
o A fix for stolen food stamp funds
o Money for children’s cancer research
o Curtailing Pharmaceutical Benefit Managers (PBM)
o Criminalization of revenge porn and some deepfake images
o Restriction on investments in China
o Cost-of-living pay raise for Congress
The items that were stripped out had negligible, if any, budgetary impact. In fact, PBM reform would have saved patients and taxpayers significant money by curtailing the greed of Pharmaceutical Benefit Managers. Although removed from the bill, funding for pediatric cancer research was approved separately.
Two items on this list were set to have an impact on the business operations of Elon Musk. First, the original bipartisan bill required X and other social media sites to implement policies to deal with revenge porn and certain deepfake images. Second, Musk would have seen the proposed restriction on investments in China as problematic.
https://wapo.st/41JKEX5
FOLLOW THE MONEY: Why Musk killed the bill
Democrat Rosa DeLauro (CT-03) has accused Elon Musk of pushing Speaker Mike Johnson to kill the initial bipartisan spending proposal that was agreed to – precisely because it would have imposed new regulations on his considerable investments in China.
Tesla’s gigafactory in Shanghai accounts for half of its worldwide car production. In addition, Chinese factories produce over 90 percent of the parts for Tesla cars. Moreover, Tesla has roughly 300 stores throughout China.
https://thehill.com/business/5051709-musk-delauro-spending-bill-china/
Axing the revenge porn and cancer research is disgusting, but on its face (I don't know the details) I think enabling American investment in China is good policy for a variety of reasons (the Chinese have clearly set their sights on investing/buying property in the U.S.)
If DeLauro is correct, and Musk’s objections to new regulations on investments in China was his reason for manipulating the House to kill this bill – and having the power to do so! – then I would say that is worrisome in the extreme.
Make childhood cancer great again!
about time somebody cracked down on them mooching cancer kids amirite???