WASHINGTON – Sen. John Kennedy (R-La.) today joined Sen. Bill Hagerty (R-Tenn.) and colleagues in introducing the Stop the Nosy Obsession with Online Payments (SNOOP) Act, which would strike the Biden administration’s tax-code provision within the American Rescue Plan that requires third-party payment platforms to report businesses’ gross transaction volumes totaling more than $600 to the Internal Revenue Service (IRS).
“President Biden’s administration is bent on weaponizing the IRS against hard-working, tax-paying Americans. Louisianians, and all Americans, are entitled to privacy, and Congress must stop unjustified tax policies that do little more than harass and track the personal finances of hardworking Americans,” said Kennedy.
“The Biden Administration has proven relentless in its attempt to invade the privacy of Americans’ lives and finances. It is regrettable that this Administration still insists on advancing their perilous and oppressive political agenda to the detriment of taxpayers’ privacy, heedless of the IRS’s failed track record of protecting Americans’ confidential data and the deep concern of the American people that they serve. Though Republican efforts to repeal these new requirements were ignored for two years, the Biden Administration took a politically-timed short-term step to save themselves from the consequences of their own actions, but merely delaying this intrusive provision is not enough; It is past time we stand up for our small business owners and put an end to this egregious and unwarranted overreach for good,” said Hagerty.
Prior to the American Rescue Plan, payment providers were only required to report information when a payee had over 200 commercial transactions per year that exceeded $20,000. As a result of the new provision, thousands of Americans will have to fill out 1099-Ks and provide their personal information to the IRS, despite the IRS’s poor history of safeguarding Americans’ personal data.
Sens. Cynthia Lummis (R-Wyo.), John Hoeven (R-N.D.), John Barrasso (R-Wyo.), James Lankford (R-Okla.), Kevin Cramer (R-N.D.) and Ted Cruz (R-Texas) are also cosponsoring the legislation.
WASHINGTON – Sen. John Kennedy (R-La.) has earned an “A” rating for his commitment to protecting the lives of the unborn through his pro-life legislative record during the 117th Congress. The Susan B. Anthony List’s national scorecard recognizes lawmakers who have consistently championed life through their voting record and legislative leadership.
“Human life is precious, and that’s why I’ll continue to stand with Americans who are fighting to give a voice to the voiceless and defend the defenseless,” said Kennedy.
Kennedy has opposed using taxpayer money to fund abortions and voted against Democrats’ attempt to force states to legalize abortion up to the point of a child’s birth. He also helped lead an effort to defund Planned Parenthood.
Before the Supreme Court’s ruling in Dobbs v. Jackson Women’s Health Organization, Kennedy co-led the pro-life bicameral amicus brief in the case of June Medical Services v. Russo.
In addition, he has authored the Pregnant Women Health and Safety Act to protect the health of women and children and the Prenatal Nondiscrimination Act, which would make it a crime to abort a child based on his or her gender.
View Kennedy’s March for Life message here.
MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Appropriations Committee, today announced $4,476,602 in a Federal Emergency Management Agency (FEMA) grant for Louisiana disaster aid.
“I’m glad to see this $4.5 million supporting Louisiana’s Department of Transportation and Development in its recovery from Hurricane Laura,” said Kennedy.
The FEMA aid will fund the following:
- $4,476,602 to the Louisiana Department of Transportation and Development for management costs related to Hurricane Laura.
MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Appropriations Committee, today announced $25,165,912 in Federal Emergency Management Agency (FEMA) grants for Louisiana disaster aid.
“Louisianians are still recovering from Hurricane Laura’s damage, and this $25.2 million will help Calcasieu Parish and other areas of our state rebuild together,” said Kennedy.
The FEMA aid will fund the following:
- $22,038,272 to the Louisiana Department of Health and Hospitals for emergency protective measures related to Hurricane Laura.
- 3,127,640 to West Calcasieu Port to replace facilities in the aftermath of Hurricane Laura.
MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Appropriations Committee, today announced $17,311,616 in Federal Emergency Management Agency (FEMA) grants for Louisiana disaster aid.
“This $17.3 million will support south Louisiana and other parts of the state as we recover from the damage Hurricanes Laura and Ida dealt,” said Kennedy.
The FEMA aid will fund the following:
- $6,620,732 to the Louisiana Department of Children & Family Services for emergency protective measures related to Hurricane Ida.
- $6,102,622 to the Calcasieu Parish School Board for repairs to the LeBlanc Middle School, which Hurricane Laura damaged.
- $1,651,957 to Houma Terrebonne Housing Authority for emergency protective measures related to Hurricane Ida.
- $1,570,525 to the South Louisiana Electric Cooperative Association for emergency protective measures related to Hurricane Ida.
- $1,365,780 to the Office of Risk Management for building repairs to McNeese University, which Hurricane Laura damaged.
MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Judiciary Committee and ranking member of the Subcommittee on Federal Courts, Agency Action, Oversight and Federal Rights, wrote U.S. Supreme Court Chief Justice John Roberts and U.S. Attorney General Merrick Garland, urging them to take action in order to mitigate the threat foreign actors like China are posing by covertly funding litigation in U.S. courts.
“Few safeguards exist in any form of law, rule, or regulation to prevent foreign adversaries from participating in civil litigation as an undisclosed third-party in our country’s federal courtrooms—this resulting in our national security and our entire government being vulnerable to manipulation,” Kennedy wrote.
“As a member of the Judiciary Committee, I ask that the Department of Justice provide details about any course of action that has been taken to mitigate this threat. I also recommend that the Judicial Conference of the United States consider proactively providing guidance to courts from coast to coast as means of preventing foreign entities from hijacking our federal judiciary,” Kennedy stated.
The letter comes as recent reports reveal that foreign hedge funds, private equity funds and sovereign wealth funds linked to hostile governments are financing civil lawsuits in U.S. courts with a desired outcome.
The full letter is available here.
MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Appropriations Committee, today announced $20,174,950 in Federal Emergency Management Agency (FEMA) grants for Louisiana disaster aid.
“I am grateful that Lafourche Parish, Livingston Parish, Loyola University and parts of southeast Louisiana are receiving this $20 million to recover from the destruction left behind by Hurricane Ida,” said Kennedy.
The FEMA aid will fund the following:
- $7,170,835 to Livingston Parish for debris removal as a result of Hurricane Ida.
- $4,464,933 in federal funding to South Lafourche Levee District for right of way debris removal and monitoring as a result of Hurricane Ida.
- $4,285,100 to Lafourche Parish for debris removal operations as a result of Hurricane Ida.
- $2,650,075 to the Southeast Louisiana Flood Protection Authority for debris removal as a result of Hurricane Ida.
- $1,604,007 to Loyola University for emergency protective measures as a result of Hurricane Ida.
WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Appropriations Committee, today announced $56,622,283 in Federal Emergency Management Agency (FEMA) grants for Louisiana disaster aid.
“Hurricane Ida hit Louisiana hard, and communities are still dealing with the fallout. I’m thankful that this $57 million will help recovery efforts in Baton Rouge, St. John the Baptist Parish, Terrebonne Parish and our state,” said Kennedy.
The FEMA aid will fund the following:
- $36,711,100 to the Louisiana Department of Transportation and Development for debris removal operations as a result of Hurricane Ida.
- $9,946,754 to St. John the Baptist Parish for debris removal as a result of Hurricane Ida.
- $6,266,550 to Terrebonne Parish for debris removal as a result of Hurricane Ida.
- $3,697,879 to Baton Rouge for emergency protective measures as a result of Hurricane Ida.
Kennedy legislation to further protect Americans from fraudulent Chinese companies becomes law
Dec 29 2022
MADISONVILLE, La. – Sen. John Kennedy’s (R-La.) Accelerating Holding Foreign Companies Accountable Act became law today as part of a package of bills. Kennedy’s legislation will increase accountability for Chinese companies that refuse to submit to U.S. financial oversight and close a loophole that Chinese companies use to avoid such oversight.
“Companies that are beholden to the Chinese Communist Party have been flouting America’s security laws and putting Americans’ retirement savings at risk. Because Beijing is determined to exploit American investors, I’ve been fighting for more accountability for foreign companies that use American capital. The SEC finally has the power it needs to kick fraudulent Chinese companies off U.S. exchanges more quickly and remind China that playing by the rules isn’t optional,” said Kennedy.
In December 2020, the president signed into law Kennedy’s Holding Foreign Companies Accountable Act, which prohibits foreign companies from listing their securities on any of the U.S. exchanges if the company has failed to comply with the Public Company Accounting Oversight Board’s (PCAOB) audits for three years in a row. The law protects the interest of hardworking American investors by ensuring that foreign companies traded in America are subject to the same independent audit requirements that apply to their competitors in America and other countries.
The Accelerating Holding Foreign Companies Accountable Act will build on this progress by putting additional pressure on China. Kennedy’s legislation requires foreign companies to comply with PCAOB audits within two consecutive years instead of three. This would help remove fraudulent and non-compliant companies from U.S. exchanges more quickly so they cannot continue to put hardworking Americans at risk.
Background:
Congress established the PCAOB to inspect audits of public companies, ensuring the information companies provide to the public is accurate, independent and trustworthy.
Historically, China’s communist government has refused to allow the PCAOB to inspect audits of companies registered in China and Hong Kong. Such companies represent a keen risk to American investors as nearly 11 percent of all securities class action lawsuits in 2011 were brought against Chinese-owned companies accused of misrepresenting themselves in financial documents.
According to the Securities and Exchange Commission, 224 U.S.-listed companies are located in countries where there are obstacles to PCAOB inspections. These companies have a combined market capitalization of more than $1.8 trillion.
In the last 10 years, the number of Chinese companies listed on U.S. stock exchanges has increased significantly, as those firms take advantage of the capital available in America.
Kennedy’s Unclaimed Savings Bond Act becomes law to help reunite Americans with $29 billion
Dec 29 2022
MADISONVILLE, La. – Sen. John Kennedy’s (R-La.) Unclaimed Savings Bond Act has become law as part of the annual funding bill. Kennedy’s legislation will help Americans claim more than $29 billion in unredeemed savings bonds, including $337 million that belong to the people of Louisiana.
“Now that the Unclaimed Savings Bond Act is law, the Treasury will finally have to help Louisiana and other states reunite Americans with their hard-earned savings. Inflation is forcing Louisianians to pinch pennies, and it’s basic decency that the Treasury would help people find money that rightfully belongs to them and their families,” said Kennedy.
Background:
The Treasury Department is currently holding more than $29 billion in matured, unredeemed U.S. savings bonds, most of which the Treasury deems lost, stolen, destroyed or “unclaimed.” Many of these bonds were issued more than 70 years ago and have matured—meaning they no longer earn interest for bondholders.
In cases in which bonds are not physically possessed by their rightful holders, only the Treasury has the names and addresses of the original bond owners. The Treasury also has the serial numbers needed to claim the bond proceeds.
The Treasury has not taken any significant actions to proactively reunite bonds with their rightful owners despite its relaunch of Treasury Hunt, an online search tool that allows bond owners to locate bond information. The Treasury relaunched the tool at Kennedy's request. Individual states, however, conduct programs that reconnect their citizens with unclaimed property.
Kennedy’s legislation requires the Treasury to provide states with information about matured and unclaimed bonds so these states can use unclaimed property programs to help find the original owners (or heirs of those original owners) of these bonds.
