Weekly Update
Supporting Military Families
I introduced the BNA Fairness Act to help military families this week.
It always breaks my heart when I know there are people in uniform out there serving their country and struggling to make ends meet. We have an obligation to support the members of our armed services and their families. That is why this week, I introduced legislation to eliminate the tax burden on Basic Needs Allowance (BNA) payments. The BNA Fairness Act ensures service members keep the full benefits they need as they serve our nation. Putting more money in the hands of America’s heroes for basic necessities like food is the right thing to do. With record high inflation increasingly straining finances, eliminating this fee is needed now more than ever. It makes sense to treat the BNA just like other military benefits outside of earned income. It’s simple: taxing a benefit meant to help the most vulnerable defies logic. To me, this allowance is a "combat multiplier" through enhanced performance by reducing financial pressure at home. I intend to ensure our men and women in uniform are provided their full benefits.
I’m proud to lead and advocate for legislation that could help thousands of families. For example, when asked about the proposal, Military Officers Association of America (MOAA) Arkansas Council of Chapters President Col (R) Don Berry, said “We have a duty to support our men and women in uniform. Inflation is straining paychecks across the nation, and military families are not immune to its impact on top of the financial stresses of deployments, transfers, and high military spouse unemployment. MOAA Arkansas is proud to support this bipartisan bill, which directly aids food security for our troops by ensuring they can count on the full value of their basic needs allowance. The legislation demonstrates a commitment to America’s service members and their loved ones, and we thank Congressman Womack for his work.”
More information on my bill here or read the recent Arkansas Democrat-Gazette article on it here.
Protecting Your Data
As Ranking Member of the House Appropriations FSGG Subcommittee, I raised my major concerns with SEC Chairman Gary Gensler about the privacy risks related to data collection.
I take my oversight responsibilities very seriously. As Ranking Member of the House Appropriations Subcommittee on Financial Services and General Government (FSGG), which has jurisdiction over the Securities and Exchange Commission (SEC), I raised my major concerns with Chairman Gary Gensler about the privacy risks and national security threats associated with the Consolidated Audit Trail (CAT). The CAT is a data management platform that tracks all trade information from broker deals, trading venues, retail investments, and stock exchanges. It is set to collect personally indefinable information (PII) of every American with money in the stock market in July 2024. It would include data like your name, address, date of birth, and financial account information—making the database a prime target for foreign cyber-espionage and hacking attacks. A database that unnecessarily stores the personal information of millions of Americans might as well be a flaming bullseye for hackers and foreign adversaries. As I stated to the SEC, they must eliminate any plans to collect this sensitive data. This is fundamentally about protecting the public.
Read more about the issue and my steps to address it here.
Veteran and Women Small Business Resources
I spoke with veteran and women entrepreneurs at a business conference this week.
Our region is continually growing and ripe for success. It’s not by accident. I consider the Third District a hub of innovation, economic strength, and entrepreneurial activity. Not only do we boast the right synergies—a compilation of low taxes, infrastructure, healthcare, education, workforce pipeline, and more—but we also have organizations that are supportive of everyone who wants to start and grow a business. From small mom-and-pop and main street businesses to large operations, we are an area of opportunity. Entrepreneurs need mentoring, management talent, and capital to expand and fully capitalize on market opportunities. As such, I spoke at the Veterans and Women-Owned Business Conference, which was hosted at NWACC this week. The focus of the event was providing veteran and women-owned businesses with the skills, tools, and contacts needed to develop and sell their products and services. I appreciated speaking with the creators in the audience—and one veteran even showed me exactly how his product worked. I look forward to seeing these business minds putting the information they learned and resources they gained to good use as they develop and grow their operations.
NWA Workforce Summit
The Springdale Chamber of Commerce brought together key players in workforce development, including industry, education, and policy stakeholders, for a summit.
I joined the Springdale Chamber of Commerce as they held their annual Northwest Arkansas Workforce Summit. It is a great forum that brings together all the key players in workforce development, including industry, education, and policy stakeholders. This year’s summit centered on advancing our region’s efforts to improve workforce training and align career readiness programs in our schools with the needs of our employers. I appreciated seeing so many teachers and thought leaders in the crowd. America’s workforce is one of the most important issues of today and tomorrow. We need to be great advocates for our kids and equip them with the skills and information they need to find the career path that works best for them. That means understanding that higher education is great for many, but it shouldn’t be touted as the only pathway to success. The Natural State has been a leader in retooling the “college is for everyone” mentality and creating strong resources for career and technical education. This is important. It also reminds me of Sam Walton’s 10th rule for success: “Rule 10: Swim upstream. Go the other way. Ignore the conventional wisdom. If everybody else is doing it one way, there’s a good chance the firm can find its niche by going in exactly the opposite direction. But be prepared for others to say that the firm is headed the wrong way. Be the best agency in the city and know what makes competitors shine and emulate those things.” The point is to get out ahead of change—and educators and schools are investing in that. Vision and leadership are not things we are short of around here. It’s all around us, and I am proud that so many Arkansans continue to come together for events focused on building and enhancing our strengths and the success of future generations.
Wishing you a great weekend ahead! It’s a big football weekend—I’ll, of course, be cheering for the Razorbacks, as they face off against Liberty. WOO PIG! That’s not the only rivalry I’ll be focused on. As Chairman of the West Point BOV, I am headed to watch U.S. Military Academy take on the U.S. Air Force Academy. I am extremely proud of our cadets at both these prestigious institutions, but you know who I am rooting for—GO ARMY! Let’s not forget that these players will one day go from wearing their football uniforms to those of America. God bless all the men and women committed to following a path of service and defending our exceptional nation. You can keep an eye on my website or check out my Twitter and Instagram pages to stay up-to-date with the latest news from my office. |