May 17

This week in MORE POWER:

Congress Split on Israel
Transparent Ticket Pricing
Crypto Regulation
Police Week

Congress Split on Israel

After announcing a pause in some Israel arms sales last week, the Biden administration told Congress that it plans to transfer $1 billion in weapons to Israel, pending congressional approval. National Security Adviser Jake Sullivan confirmed ongoing military assistance, ensuring Israel receives full support from a recent $14 billion defense funding package. The package reportedly includes $700 million for tank ammunition, $500 million for tactical vehicles, and $60 million for mortar rounds.

The Republican led House passed a bill that was largely symbolic, rejecting Biden’s pause on arms sales to Israel. The Biden administration has threatened to veto the bill. The legislation would cut budgets for key defense and security offices if Biden doesn't deliver the bombs promptly, and condemns his decision to delay the arms transfers. The bill's passage highlights divisions within the Democratic Party and strong bipartisan support for Israel, though it faces a veto threat and unlikely Senate approval.

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Transparent Ticket Pricing

The House passed the bipartisan Transparency In Charges for Key Events Ticketing (TICKET) Act, requiring event ticket sellers to disclose total costs upfront, including hidden fees. The bill, which passed 388-24, aims to end deceptive ticketing practices and ensure fairness and transparency. It also bans selling tickets that sellers don’t have in hand and guarantees refunds for canceled events. The bill has widespread support, including from Live Nation Entertainment. Lawmakers emphasize that the bill will improve the online ticket buying experience for consumers. Now it’s up to the Senate to pass it.

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Crypto Regulation

The Senate joined the House of Representatives in a bipartisan effort to overturn the controversial Securities and Exchange Commission (SEC) crypto policy known as Staff Accounting Bulletin No. 121 (SAB 121), voting 60-38 in favor of the resolution. However, President Joe Biden has threatened to veto the resolution, citing concerns about disrupting efforts to protect investors in crypto-asset markets. Despite receiving support from a dozen Democrats, the resolution did not gather enough votes to override a potential veto. SAB 121, issued in 2022, required companies to record customers' cryptocurrencies on their balance sheets, drawing criticism from Republican lawmakers who argued that the SEC overstepped its authority. The SEC defended SAB 121 as enhancing investor disclosure and cautioned against constraining its ability to address future crypto-related issues.

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Police Week

Republicans in the House dubbed this week “Police Week” and passed several bills that likely won’t pass the Senate. The purpose of passing these bills is so that they can go back to their districts and tout strong support for the police. One bill that is likely to become law is the Recruit and Retain Act, which already passed the Senate and is headed to the President’s desk. This bill would change the Omnibus Crime Control and Safe Streets Act of 1968 to grow the Community Oriented Policing Services (COPS) grant program in order to support law enforcement agency recruitment efforts. It expands the COPS program by allowing funds to be used for reducing application-related fees and directing the Department of Justice (DOJ) to award competitive grants to partnerships between law enforcement agencies and educational institutions for recruiting activities, such as for career and job fairs. The bill requires DOJ to establish guidance for understaffed law enforcement agencies applying for COPS grants.

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