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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.

 

 

 

 

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. 

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. 

 

MADISONVILLE, La. – Sen. John Kennedy’s (R-La.) Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act has become law as part of the annual funding bill. Kennedy’s legislation will help small business owners by allowing them to be bought and sold more easily. This legislation does this by removing the need for a registered middleman to oversee these sales.

“At a time when Americans are struggling under Pres. Biden’s bad economic policies, this legislation will give small businesses more flexibility to create and sustain jobs. Getting rid of this bureaucratic ball-and-chain will support individual workers, job creators and the overall economy,” said Kennedy.

The current requirement disadvantages small- and medium-sized job creators, and that discourages growth across the American economy. The legislation will remedy this by allowing small business merger and acquisition (M&A) brokers to organize sales and purchases of ownership, as well as the control of private companies, without the burden of registering as “broker-dealers” with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). 

When building and selling companies becomes easier, investors are more willing to dedicate resources to them. That, in turn, creates jobs and grows the value of individual businesses and the economy as a whole.

View Kennedy’s comments here.

MADISONVILLE, La. – Sen. John Kennedy (R-La.) today released this message wishing Louisianians a Merry Christmas.

“I just want to say on behalf of myself and Becky—my better half—and our son, Preston, and our two pups, Charlie and Jack, Merry Christmas. We all want to wish you a very Merry Christmas and a healthy, happy, prosperous, safe New Year. I know Americans and Louisianians have faced a lot of trials—some new, some old—over the past year, but I also want you to know you're not alone and you are not forgotten,” said Kennedy.

“Christmas reminds all of us that God sent His Son into the world because He loves us. We celebrate Christ and his love this Christmas. We celebrate God and His love this Christmas. We hope that this holiday season brings you peace and joy and hope for the new year,” he continued.

“So, God bless all of you. God bless Louisiana and Merry Christmas!” Kennedy concluded.

Video of Kennedy’s comments is available here

Madisonville, La. – Sen. John Kennedy (R-La.) today joined Sens. Linsey Graham (R-S.C.), John Barrasso (R-Wyo.) and Tom Tillis (R-N.C.) in urging Pres. Biden to re-consider visiting the U.S.-Mexico border to address the influx of illegal immigration and drug and human trafficking. The senators’ letter comes in anticipation of the end of Title 42.

“The ongoing crisis at our southern border is a national security nightmare and a humanitarian disaster, and the amount of illegal drugs flowing through our southern border, particularly fentanyl, is at an all-time high. With the looming end of Title 42 deportation authority, the problems at the border are getting exponentially worse,” the senators wrote.

“You are the Commander in Chief, and you owe it to those working on behalf of our nation to secure our border to hear from them directly about the conditions they face. In many cases, seeing is believing, and it is now time for you to see,” they continued.

“We hope you will reconsider your decision to not visit the border before it’s too late,” they concluded.

The full letter is available here.