Next month's arrival of a new Trump Administration, alongside a Congress ready to hit the ground running…
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ATSC 3.0: What Could It Mean for American Consumers?

Next month's arrival of a new Trump Administration, alongside a Congress ready to hit the ground running, promises a flurry of corrective activity after eight years of Barack Obama.

However, Americans should remain vigilant against regulatory mischief that some are trying to push through unnoticed at the outset of the new Administration and Congress.

Exhibit A:  An effort by broadcasters to convince Obama's Federal Communications Commission (FCC) to approve an entirely new broadcast television standard known as ATSC 3.0.

In a nutshell, the ATSC 3.0 standard amounts to yet another new federal action upon a private marketplace and a handout to a favored industry that could inflict significant and unnecessary costs, ultimately to be paid by consumers.

Under current law, cable and…[more]

December 02, 2016 • 04:24 pm

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Press Releases
“Revised” Puerto Rico Legislation Still a Bailout on the Backs of Savers and Retirees Print E-mail
Friday, May 20 2016

WASHINGTON, D.C. – Yesterday, Representatives Sean Duffy, Rob Bishop and Jim Sensenbrenner introduced a “revised” version of the “Puerto Rico Oversight, Management, and Economic Stability Act,” or PROMESA.  In response, the Center for Individual Freedom (“CFIF”) released the following statement:

“Unsurprisingly, the ‘new’ PROMESA legislation is just more of the same, as it does nothing to address the concerns that have been voiced by conservatives throughout this process.

“The control board still is empowered with broad authority to force a cram-down of Puerto Rico’s general obligation debt, which is backed by the ‘full faith and credit’ of Puerto Rico’s government and prioritized by Puerto Rico’s constitution.  The bill lacks any clarity with regard to preventing the control board from retroactively subordinating Puerto Rico’s bondholders to the Commonwealth’s government pensions.  Meanwhile, all bondholders are stripped of their rights to legal recourse, leaving them severely and unduly disadvantaged at the negotiating table by removing incentive for Puerto Rico to negotiate in good faith with its creditors to reach voluntary resolutions. All of this while doing very little to help jumpstart much-needed economic growth on the island. 

“Make no mistake: This latest version of PROMESA is still very much a bailout of Puerto Rico’s profligate government on the backs of American savers and retirees, including many in Puerto Rico, and high-spending states like Illinois are watching anxiously to see if Congress will follow through with the political precedent that it sets.”




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— Ralph Peters, LTC, USA-Ret., Author, Columnist and Commentator
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