Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Biden admin skewered by GOP for rule designed to ‘intentionally harm’ gun industry By: FOXNews.com May 21, 2024 at 10:00 AM EDT Sen. Tim Scott led more than 20 Republicans in asking the Biden administration to withdraw a rule they claimed is designed to "intentionally harm" the firearms industry. FIRST ON FOX: Senate Republicans are scrutinizing President Biden's Secretary of Commerce Gina Raimondo over a move they claim is designed to "intentionally harm" the U.S. firearm industry. Sen. Tim Scott, R-S.C., the ranking member of the Senate Committee on Banking, Housing, and Urban Affairs, led 22 other Senate Republicans in calling on the Biden administration to withdraw a "deeply misguided rule and its associated license revocations."Last month, the Department of Commerce (DOC) announced an interim final rule (IFR) that would see valid export licenses revoked from American companies "that authorize exports of firearms to non-government end users" in certain areas. REPUBLICANS UNITE TO BLOCK WHITE HOUSE AND SCHUMER BACKED 'FAKE BORDER BILL'According to the DOC, the new rule is intended to "reduce the risk of legally exported firearms and related items being diverted or misused to fuel regional instability, drug trafficking, human rights violations, political violence, and other activities that undermine U.S. national security and foreign policy interests."However, Scott alleged in a letter to Raimondo that the new policy is an example of Biden using the administrative state and the rule-making process as a means to "target legal U.S. industries and advance progressive policies." "We are concerned that the Department issued the Rule in an attempt to intentionally harm the firearms industry," the letter continued. DUELING IVF BILLS TAKE CENTER STAGE AS PARTIES BUTT HEADS ON REPRODUCTIVE TECH REGULATIONThe Republicans slammed the fact that the new rule would "revoke existing licensing for 36 countries and subject current license holders to a new licensing system." Per the lawmakers, this is unprecedented, as the U.S. "did not take such a drastic step even when acting on grave national security threats in the past, including previous actions related to Chinese hypertonic missiles, nuclear weapons proliferation, or China’s resumed exercise of authority over Hong Kong."The letter additionally requested that Bureau of Industry and Security (BIS) Undersecretary Alan Estevez and Assistant Secretary Thea Kendler are made available to potentially testify before the banking committee. BALANCE OF POWER: VULNERABLE DEMS LOOK TO DIFFERENTIATE THEMSELVES FROM UNPOPULAR BIDENThe correspondence was co-led by Sen. Bill Hagerty, R-Tenn., and was signed by Sens. Lindsey Graham, R-S.C., John Thune, R-S.D., Marco Rubio, R-Fla., Tom Cotton, R-Ark., Marsha Blackburn, R-Tenn., and Rick Scott, R-Fla., among several others. Lawrence Keane, senior vice president and general counsel of the National Shooting Sports Foundation (NSSF), told Fox News Digital in a statement that the rule is "another example of the Biden administration’s whole-of-government attack on the firearm industry for political purposes.""This rule punishes firearm manufacturers and exporters by blocking hundreds of millions of dollars of lawful exports and will result in lost sales earnings and cost Americans good-paying manufacturing jobs," he added. SEN DURBIN DEMANDS JUSTICE ALITO RECUSE FROM TRUMP CASES AFTER FLYING UPSIDE-DOWN US FLAGKeane further alleged, "There is no foundation to the Biden administration’s claim this over-burdensome rule is necessary to reduce overseas crime or improve national security."The Department of Commerce did not provide comment to Fox News Digital. Related Stocks: Fancamp Exploration Ltd Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Biden admin skewered by GOP for rule designed to ‘intentionally harm’ gun industry By: FOXNews.com May 21, 2024 at 10:00 AM EDT Sen. Tim Scott led more than 20 Republicans in asking the Biden administration to withdraw a rule they claimed is designed to "intentionally harm" the firearms industry. FIRST ON FOX: Senate Republicans are scrutinizing President Biden's Secretary of Commerce Gina Raimondo over a move they claim is designed to "intentionally harm" the U.S. firearm industry. Sen. Tim Scott, R-S.C., the ranking member of the Senate Committee on Banking, Housing, and Urban Affairs, led 22 other Senate Republicans in calling on the Biden administration to withdraw a "deeply misguided rule and its associated license revocations."Last month, the Department of Commerce (DOC) announced an interim final rule (IFR) that would see valid export licenses revoked from American companies "that authorize exports of firearms to non-government end users" in certain areas. REPUBLICANS UNITE TO BLOCK WHITE HOUSE AND SCHUMER BACKED 'FAKE BORDER BILL'According to the DOC, the new rule is intended to "reduce the risk of legally exported firearms and related items being diverted or misused to fuel regional instability, drug trafficking, human rights violations, political violence, and other activities that undermine U.S. national security and foreign policy interests."However, Scott alleged in a letter to Raimondo that the new policy is an example of Biden using the administrative state and the rule-making process as a means to "target legal U.S. industries and advance progressive policies." "We are concerned that the Department issued the Rule in an attempt to intentionally harm the firearms industry," the letter continued. DUELING IVF BILLS TAKE CENTER STAGE AS PARTIES BUTT HEADS ON REPRODUCTIVE TECH REGULATIONThe Republicans slammed the fact that the new rule would "revoke existing licensing for 36 countries and subject current license holders to a new licensing system." Per the lawmakers, this is unprecedented, as the U.S. "did not take such a drastic step even when acting on grave national security threats in the past, including previous actions related to Chinese hypertonic missiles, nuclear weapons proliferation, or China’s resumed exercise of authority over Hong Kong."The letter additionally requested that Bureau of Industry and Security (BIS) Undersecretary Alan Estevez and Assistant Secretary Thea Kendler are made available to potentially testify before the banking committee. BALANCE OF POWER: VULNERABLE DEMS LOOK TO DIFFERENTIATE THEMSELVES FROM UNPOPULAR BIDENThe correspondence was co-led by Sen. Bill Hagerty, R-Tenn., and was signed by Sens. Lindsey Graham, R-S.C., John Thune, R-S.D., Marco Rubio, R-Fla., Tom Cotton, R-Ark., Marsha Blackburn, R-Tenn., and Rick Scott, R-Fla., among several others. Lawrence Keane, senior vice president and general counsel of the National Shooting Sports Foundation (NSSF), told Fox News Digital in a statement that the rule is "another example of the Biden administration’s whole-of-government attack on the firearm industry for political purposes.""This rule punishes firearm manufacturers and exporters by blocking hundreds of millions of dollars of lawful exports and will result in lost sales earnings and cost Americans good-paying manufacturing jobs," he added. SEN DURBIN DEMANDS JUSTICE ALITO RECUSE FROM TRUMP CASES AFTER FLYING UPSIDE-DOWN US FLAGKeane further alleged, "There is no foundation to the Biden administration’s claim this over-burdensome rule is necessary to reduce overseas crime or improve national security."The Department of Commerce did not provide comment to Fox News Digital. Related Stocks: Fancamp Exploration Ltd