Trump pressures for rate cut again ahead of FOMC... "Should be the lowest in the world"
U.S. President Donald Trump. [Photo = The White House] U.S. President Donald Trump once again pressured the Federal Reserve, the U.S. central bank, to lower interest rates on the 27th (local time
“Ignoring crisp ballots and damaged seals”… Tongyeong mayoral recount concludes with ‘no change in outcome,’ leaving suspicions and public outrage behind
Suspected counterfeit ballots discovered in Tongyeong [GIF from social media of Representative Hwang Kyo-ahn / Attorney Park Joo-hyun]During a recount of the Tongyeong mayoral election in South Gyeong
President Yoon, regarding the first-instance ruling on the Public Official Election Act: “An excessive political verdict that distorts the facts… We will appeal immediately.”
The first-instance sentencing hearing for President Yoon Suk Yeol regarding violations of the Public Official Election Act is being broadcast live at Seoul Station on the 27th. [Photo=Yonhap News]Pres
WSJ: "SK Hynix ADR Premium Is a Sign of AI Trading Overheat"
Advertisement for SK Hynix ADR listing in New York's Times Square [Reuters=Yonhap News file photo]The Wall Street Journal (WSJ) has pointed out that the price of SK Hynix’s American Depositary Recei
'Godfather of Japanese Mystery Novels' Keigo Higashino Passes Away After Battle with Cancer at 68
Famous Japanese mystery novelist Keigo Higashino [AFP=Yonhap News]It has been belatedly reported that Keigo Higashino, the "godfather of Japanese mystery novels" and author of bestsellers such as "The
[Park Pil-kyu Security Column] To the Ignorant Trying to Clothe a Beast in Sheep's Clothing
Rep. Kim Byung-joo of the Democratic Party of Korea [Photo=Yonhap News]“The Air Force Academy doesn't teach you how to fly a plane!” “The Army, Navy, and Air Force academies are exactly the
U.S. House Speaker Mike Johnson [Reuters=Yonhap News]
U.S. House Speaker Mike Johnson (Republican, Louisiana) announced on the 28th (local time) that he would revive efforts to pass a bill strengthening voter identification requirements—a key issue in U.S. politics—by leveraging a mechanism that allows it to pass the Senate with only a simple majority.
Appearing on Fox News, Speaker Johnson, a Republican, stated that he intends to include the bill, known as the "SAVE Act," in a "reconciliation bill" this time, and announced plans to convene the House on the 29th to introduce the legislation.
The core of the SAVE Act includes mandating proof of citizenship and voter ID for voting, and banning mail-in voting except in cases of military service, illness, disability, or travel. President Donald Trump has repeatedly urged Congress to pass the bill, viewing it as a "winning card" for the upcoming November midterm elections.
Speaker Johnson, a staunch ally of President Trump, has successfully pushed the bill through the Republican-controlled House three times; however, it has yet to clear the Senate. To override a filibuster (an obstructionist tactic to delay or block a vote), 60 out of 100 Senate seats are required, and the Republican majority (currently 53 seats) is insufficient to meet that threshold.
The reconciliation process mentioned by Speaker Johnson is a procedure that allows budget-related bills to bypass the minority party's filibuster and pass with a simple majority. President Trump has even called for the dismissal of the Senate parliamentarian, who previously ruled that the current version of the SAVE Act does not qualify for this process.
Speaker Johnson stated, "We will send to the Senate provisions that can pass the 'Byrd Rule' test (a standard determining whether a bill qualifies for reconciliation)." It is presumed that he intends to draft an amendment to the SAVE Act that incorporates budget-saving measures.
He emphasized that the "21st Century Housing Supply Expansion Act," which President Trump had threatened to veto in connection with the SAVE Act, as well as the extension of the Foreign Intelligence Surveillance Act (FISA) and the next fiscal year's National Defense Authorization Act (NDAA), must be implemented as soon as possible.
Even if the House passes the SAVE Act in an amended form, it remains uncertain whether the Senate will accept it, given concerns regarding procedural legitimacy and congressional customs. The Senate is currently in recess until the 13th of next month.
Speaker Johnson recently remarked, "I met with the Senate Republican Leader and asked him to do everything within his power to push the bill forward."
Yonhap News More by this author