![]() The DHS secretary is slated to testify before the Senate Judiciary Committee on Tuesday at 10 a.m. Homeland Security Secretary Alejandro Mayorkas is heading to Capitol Hill this week for his first hearing before the 118th Congress. “We will conduct this hearing without fear or favor to get the answers the American people deserve.” “This hearing will allow us to begin to understand why and how these banks failed,” the pair continued. “The House Financial Services Committee is committed to getting to the bottom of the failures of Silicon Valley Bank and Signature Bank,” House Financial Services Committee Chairman Patrick McHenry (R-N.C.) and Ranking Member Maxine Waters (D-Calif.) wrote in a statement. ![]() The failures have also prompted discussion about what action Congress can take in response to the collapses. Some Republicans, on the other hand, blamed the collapse on Silicon Valley Bank pursuing “woke” strategies, while others have pointed to inflation and raised questions about regulators. Democrats generally cited a 2018 deregulation bill that former President Donald Trump signed into law, despite the fact that 49 Democrats and one Independent who caucuses with Democrats voted for the measure. The collapse of the two banks sparked a blame game on Capitol Hill. National Security Council spokesman John Kirby told the CBS show, “We’d love to see that passed by the Congress so that the president can have additional tools and authorities,” referring to the RESTRICT Act. Chew’s testimony, he just couldn’t answer the basic question,” Warner told CBS’s “Face the Nation.” “I think they wanted to get through their hearing. The White House endorsed the measure earlier this month, and Warner on Sunday said the bill has received “strong interest from the House.” Senate Intelligence Committee Chairman Mark Warner (D-Va.) and Senate Republican Whip John Thune (R-S.D.) introduced the bill, which currently has nearly two dozen bipartisan co-sponsors. ![]() ![]() The Restricting the Emergence of Security Threats that Risk Information and Communications Technology Act (RESTRICT Act) would direct the Commerce Department to review and mitigate risks posed by technology that has ties to foreign adversaries, including China, North Korea, Iran, Russia, Cuba and Venezuela. A number of GOP House members have expressed a desire to impeach Mayorkas.Ī number of TikTok-related bills have been introduced this Congress, including one bipartisan measure that would give the federal government the ability to ban the app. The Senate Judiciary Committee is scheduled to hold an oversight hearing this week featuring testimony from Homeland Security Secretary Alejandro Mayorkas - his first appearance before the 118th Congress. The collapses spooked markets and raised concerns about future bank runs. ![]() What that legislation will look like remains unclear, but will likely be a topic of conversation among lawmakers this week.Īlso this week, House and Senate committees are slated to hold hearings on recent bank failures, after Silicon Valley Bank and Signature Bank were seized by regulators earlier this month. “The House will be moving forward with legislation to protect Americans from the technological tentacles of the Chinese Communist Party,” McCarthy said in a tweet Sunday. ( The Hill) - Discussions of a potential ban on TikTok in the United States are expected to heat up this week after the CEO of the social media app was grilled by House members during a blockbuster hearing last week.Ĭongressional leaders from both chambers and parties have backed bills that could lead to the Chinese-owned app being banned, while Speaker Kevin McCarthy (R-Calif.) has explicitly said he would support a national ban on TikTok. ![]()
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