WASHINGTON – Sen. John Kennedy (R-La.), today introduced the Intelligent Tick Study Act to require the Securities and Exchange Commission (SEC) to look at the economic impact that trading in increments—called ticks—of over and under one penny has on the stock market. The bill would also allow the SEC, through rulemaking, to determine appropriate tick sizes for small companies that are publicly traded.

“The one-size-fits-all penny increment makes it more challenging for small companies to trade. I’m introducing the Intelligent Tick Study Act to help level the playing field so that small companies can be traded and raise capital more efficiently,” said Kennedy.

Text of the bill is available here.

MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Appropriations Committee, today announced $3,495,473 in a Federal Emergency Management Agency (FEMA) grant for a regional gauge network to monitor potential flooding and rainfall. This system would help warn Louisianians about coming floods so they can evacuate in time.

“Louisianians suffered through serious floods in 2016 and again last year. This $3.5 million will help fund a system to alert Louisianians of dangerous floods ahead of time so they and their loved ones can get to safety,” said Kennedy.

The FEMA grant will cover 100 percent of the project cost.

MADISONVILLE, La. – Sens. John Kennedy (R-La.), Tom Cotton (R-Ark.) and the other Republican members of the Senate Judiciary Committee today sent a letter asking Judge Ketanji Brown Jackson to provide information related to the case of Wesley Hawkins.

“During your confirmation hearing, you were asked by multiple members about the extraordinarily lenient sentences that you have given to child pornography offenders. Your sentences for child pornography offenders were routinely less than the sentences recommended by the sentencing guidelines and less than the sentences recommended by the prosecutors—in fact, you gave reduced sentences far more often than did average federal judges,” wrote the senators.

“In one specific case that was addressed at the hearing, you sentenced a man named Wesley Hawkins, who distributed child pornography on the internet. The sentencing guidelines recommended a sentence of about 8-10 years. As a result of a plea agreement, the prosecutors in the case recommended a 24-month sentence, and your own probation office recommended 18 months. You, however, sentenced Hawkins to a mere three months in [Bureau of Prisons] custody for his crimes. In 2019—when he would have been in prison if you had followed the sentencing guidelines—Hawkins apparently did something that caused you to send him back to BOP custody for six months in a halfway house, along with instituting new restrictions on his computer usage,” they continued.

“Your lenient sentencing in the Hawkins case was the subject of significant interest in the Committee’s review of your judicial record. Our review of your nomination requires that the Committee fully understand the circumstances that informed your actions in this case. . . . please immediately provide the Committee with a copy of the probation petition that you referenced in that April 2019 order, and an explanation of what Hawkins did in 2019 that earned him twice as much time in BOP custody as your original three-month sentence,” the senators concluded.

The letter is available here.

MADISONVILLE, La. – Sen. John Kennedy (R-La.), Sen. Bill Cassidy (R-La.) and Rep. Clay Higgins (R-La.) today urged Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell to waive monthly rent payments through Oct. 31, 2022 for survivors of Hurricanes Laura and Delta in southwest Louisiana.

“Southwest Louisiana was devastated by an unprecedented string of natural disasters in 2020 and 2021. Hurricanes Laura, Delta, a severe winter storm, and the May 2021 flood event caused extensive damage to the region and created major disruptions to the recovery process. These disasters were in addition to pandemic-related challenges, lumber shortages, and nationwide supply chain issues that have hamstrung construction and rebuilding efforts. These compounding issues have caused extensive delays for Southwest Louisiana families trying to return to permanent housing,” the lawmakers wrote.

“Nearly 19 months after Hurricane Laura’s landfall and six months after Congress appropriated funding, the Department of Housing and Urban Development (HUD) has finally announced its allocation to the State of Louisiana through the Community Development Block Grant Disaster Recovery (CDBG-DR) program. Louisiana’s share of CDBG-DR funding will largely be used to address unmet housing needs. While these long-term recovery resources will greatly help Louisiana’s recovery mission, the funding is still making its way through the bureaucratic process and is not able to be spent at this time. . . . A waiver on rent through October 31, 2022, will allow CDBG-DR money to flow into the community and address essential housing needs before rent payments begin,” they continued.

“Given these unique circumstances, we believe FEMA should take action to provide additional relief for hurricane survivors in Southwest Louisiana,” concluded the lawmakers.

The letter is available here.