Rep. Ted Budd takes aim at cap on debit card fees

| Posted in In the News
Tags: Economy

In recent weeks, North Carolina’s newest congressman has narrowed his efforts to repeal regulations enacted following the Great Recession. Rep. Ted Budd, R-13, has advocated for the repeal of Dodd-Frank financial services regulations since taking office. More recently, Budd has focused his attention on a specific provision in the bill that caps fees charged for debit card processing — the Durbin ...

Freshman Republican Ted Budd gets bank support for fight with retailers

| Posted in In the News
Tags: Economy

Republican Rep. Ted Budd of North Carolina will get an assist from the banking industry as he becomes a surprise center of controversy in a major lobbying war between the financial services industry and the retail, restaurant, and grocery store industries. The Electronic Payments Coalition, a group that represents banks and card providers, began advertising on radio Tuesday in Budd's district, pra...

How bad is the defense acquisition system, really?

| Posted in In the News

Every day, anonymous bureaucrats make decisions that will have a profound effect on people's lives. These decisions are as boring as they are important, and I suspect that most people are okay with the process to a degree — civilization requires a certain amount of paperwork. The problem comes when the usual unhelpfulness and rule-following of civil servants is mixed with something worse: favoriti...

US lawmaker calls for probe into possible $418M arms sale to Kenya

| Posted in In the News

A North Carolina congressman is calling for a probe into a potential $418 million contract between Kenya and a major U.S. defense contractor announced on President Obama's last day in office -- a deal the lawmaker claims reeks of cronyism. Republican Rep. Ted Budd wants the Government Accountability Office to investigate a deal between the African nation and New York-based L3 Technologies for the ...

NC company carved out of $418M contract for warplane; U.S. Rep. Ted Budd tries to halt sale after firm not selected

| Posted in In the News

IOMAX USA Inc., based in Mooresville, modifies crop dusters into surveillance planes fortified with such weapons as Hellfire missiles. The United Arab Emirates, Jordan, Egypt and Saudi Arabia use them to protect their borders. Now Kenya wants to buy some. Buyer’s budget: $418 million. But, somehow, IOMAX, which is the only company that has a record of making and selling the weaponized plane, has n...

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