Category: News

Preventing AI Deepfakes, Deterring Fentanyl and Foreign Aggression, and Strengthening Small Businesses

4 min read

Preventing AI Deepfakes, Deterring Fentanyl and Foreign Aggression, and Strengthening Small BusinessesHALT Fentanyl Act (S 331) – On Jan. 30, Sen. Bill Cassidy (R-LA) introduced this bipartisan act in order to close a loophole that allowed clandestine drug manufacturers to evade illegal drug laws by altering the chemical composition of fentanyl. The legislation permanently classifies all versions of fentanyl as a Schedule I substance, much like heroin and LSD. The bill passed in the Senate on March 14 and in the House on June 12. It currently awaits the president’s signature for enactment.

TAKE IT DOWN Act (S 146) – This legislation was signed into law on May 19. Introduced by Sen. Ted Cruz (R-TX) on Jan. 16, the bipartisan bill authorizes the internet removal of visual depictions, generated by AI, of intimate acts of identifiable people without their consent.

No Tax on Tips Act (S 129) – Introduced by Sen. Ted Cruz (R-TX) on Jan. 16, this is a stand-alone bill that features the popular provision to provide a $25,000 deduction to non-itemized tax filers who work in common industries where cash tips represent a portion of their income. Note that Social Security and Medicare taxes (FICA) would still be deducted from those tips. The bill passed in the Senate on May 20 and currently lies in the House, where it conflicts with the current House-passed budget reconciliation bill being debated in the Senate.

Rescissions Act of 2025 (HR 4) – This bill would give Congressional consent to rescind previously approved funding for various government agencies and programs, in alignment with the president’s agenda, including USAID and the Public Broadcasting System (PBS). The bill was introduced on June 6 by Rep. Steve Scalise (R-LA), passed in the House on June 12, and currently lies with the Senate.

Connecting Small Businesses with Career and Technical Education Graduates Act of 2025 (HR 1672) – This act is designed to amend the Small Business Act to require that information relating to graduates of career and technical education programs be relayed to small business and women’s business development centers. The goal is to enable hiring of more graduates of career and technical education programs by small businesses. Introduced on Feb. 26 by Rep. Roger Williams (R-TX), this bill passed in the House on June 3 and is under consideration in the Senate.

CEASE Act of 2025 (H 2987) – Introduced on April 24 by Rep. Robert Bresnahan (R-PA), this legislation would limit (to 16) the number of for-profit small business lending companies (SBLCs) that can offer small business loans without further Congressional approval. America’s Credit Unions support the act because they say the SBA has in the past expanded the SBLC license pool without “sufficient guardrails” to regulate fintech lenders, which have been disproportionately associated with fraudulent loans. The bill passed in the House on June 5 and is now in the Senate.

7(a) Loan Agent Oversight Act (HR 1804) – This bill requires the SBA’s Office of Credit Risk Management to provide Congress with an annual report on SBA 7(a) loans generated through loan agent activity. Specifically, the report would collect and analyze the necessary data to ensure oversight for fraudulent loans, default rates, and risk analysis of SBLC loan agents. The bill was introduced by Rep. Tim Moore (R-NC) on March 3 and passed in the House on June 3. It now lies with the Senate.

American Entrepreneurs First Act of 2025 (HR 2966) – On June 6, the House passed this bill, designed to require SBA loan applicants to provide citizenship status documentation. It was introduced by Rep. Beth Van Duyne (R-TX) on April 17 and is currently under consideration in the Senate.

DETERRENCE Act (S 1136) – Introduced by Sen. Margaret Hassan (D-NH) on March 26, this bipartisan bill would step up criminal penalties for federal crimes funded, conducted, or perpetrated in concert with foreign governments. The acronym stands for “Deterring External Threats and Ensuring Robust Responses to Egregious and Nefarious Criminal Endeavors,” and includes crimes such as murder, kidnapping, or threatening violence against certain present and former federal officials or their families. The act passed in the Senate on June 10 and is under consideration in the House.

Quantum Computing: Separating Hype from Real-World Business Value

4 min read

Quantum ComputingLately, there has been a lot of talk about quantum computing, drawing interest from many, including business leaders. Quantum computing promises to solve previously unsolvable problems and revolutionize entire industries. As a result, excitement around its potential is rapidly growing. However, it is important to first ask where the hype ends and the real business value begins.

What is Quantum Computing?

Simply put, quantum computing is a new way of processing information. Unlike classical computers that use bits that are either 0 or 1, quantum computers use qubits (quantum bits). Qubits can exist in multiple states simultaneously as enabled by the principles of superposition and entanglement. This allows quantum computers to process vast amounts of information in parallel. Hence, quantum computers can theoretically tackle certain classes of problems that would take classical computers years to solve.

The Hype: Quantum’s Promised Revolution

Quantum computing is said to have the potential to perform tasks such as cracking encryption, revolutionizing drug discovery, optimizing global supply, and transforming artificial intelligence. Forecasts like one from Boston Consulting Group (BCG) project that quantum computing could unlock up to $850 billion in economic value by 2040. As a result, major industries are investing heavily and hoping to be among the first to benefit from a potential industrial revolution.

The Reality: Technical and Practical Challenges

The reality tells a different story. Today’s quantum hardware is still in its infancy, with most of these computers having fewer than 100 reliable qubits. They face issues such as noise and error rates that make large-scale practical applications elusive. Unlike classic chips that can be stacked for scaling needs, quantum systems can’t be easily scaled and need major advances in architecture and interconnects. Specialized expertise is also required to develop software for quantum machines. Besides, the algorithms that fully exploit the quantum advantage are still being researched. McKinsey estimates that while there may be many operational quantum computers by 2030, their ability to solve complex problems will take more time to mature.

This isn’t to say there is no hope as more improvement is made to quantum computing every day. Consider Google’s Willow, a 105-qubit processor introduced in December 2024. Willow addresses the error correction challenge and performs certain computations in under five minutes, which would take a supercomputer 10 septillion years.

Real-World Business Applications

Despite these challenges, quantum computing has demonstrated potential in real-world use cases. One example is Volkswagen who partnered with quantum computing firms to optimize traffic flow in Lisbon. This demonstrated how quantum algorithms can improve urban mobility. In finance, quantum-inspired algorithms are being tested for portfolio optimization and risk analysis by companies like JPMorgan Chase. Pharmaceutical companies are also testing molecular interactions with quantum simulation to potentially accelerate drug discovery. It’s worth noting that these applications are mainly hybrid solutions that use both quantum and classical computing. Even so, it signals there is potential in future breakthroughs.

Cloud-based quantum computing availed by platforms like IBM, Microsoft and Google have greatly contributed to this venture. These resources have made experimentation possible without the need for in-house quantum hardware. Therefore, businesses have a chance to innovate solutions to complex problems more affordably.

An example of a strategic framework that can help business leaders is the “quantum economic advantage” developed by MIT and Accenture. It requires two conditions: a quantum computer capable of handling the problem’s size (feasibility) and a quantum algorithm that outperforms a similarly priced classical solution (algorithmic advantage). Only when both conditions are met does quantum computing become economically beneficial.

How Businesses Should Get Ready for Quantum Computing

Preparing for quantum computing doesn’t require immediate transformation; however, it does call for strategic foresight. Here’s how businesses can begin laying the groundwork today.

  • Create a Quantum Strategy: Identify potential long-term use cases where quantum could offer an edge, and develop a roadmap aligned with industry trends and business goals.
  • Invest in Collaboration and Research: Partner with universities, quantum startups, and industry groups to stay updated and explore early-stage innovations.
  • Start Quantum-Proofing Security: Begin evaluating quantum-resistant encryption methods to safeguard future data as quantum threats to cybersecurity emerge.
  • Experiment Safely: Use cloud-based quantum platforms to run small pilots or simulations, gaining hands-on experience without major commitments.
  • Build Internal Capability: Upskill current staff in foundational quantum concepts to ensure your team can engage with this evolving technology when the time is right.

Final Thoughts

Quantum computing is in its early stages, but its disruptive potential and rapid development give businesses a reason to start planning on its adoption, or risk falling behind. Integrating quantum has the potential to boost efficiency, cut costs, and enable innovative products and services. To stay competitive, businesses should start building a quantum-ready workforce through training, hiring, and academic partnerships.

Responsibilities of Being the Executor of a Will

4 min read

Responsibilities of Being the Executor of a WillThe appointed executor of a will is the person responsible for paying the debts and taxes of the will’s owner once he dies and then distributing what is left in the estate to named beneficiaries according to instructions of the will. While it might feel like an honor to be asked to be the executor, keep in mind that the responsibilities are far more onerous than being the best man at a wedding.

An executor takes on both legal and fiduciary responsibilities that can have aggravating and even punitive ramifications if not handled properly. The following outlines the responsibilities of being the executor of a will.

Probate

Many formal assets may already have a named beneficiary (e.g., insurance policies, retirement plans, bank and investment accounts); these distribution instructions are outside of and supersede any instructions in a will. All other assets that do not have a separate beneficiary assignment and are not held in a trust must go through the probate court process. It is important to start the process as soon as possible post-death in order to have the legal authority to discharge estate assets. You may require the services of an estate attorney to enter court filings, particularly if you do not live near the departed.

Documentation

First and foremost, you must have the original copy of the will. Ensure you have this or know how to access it when you accept the responsibility as executor. Next, assemble the decedent’s documents to identify all his assets and liabilities, including real estate and personal property. You will be responsible for paying off any outstanding bills and debt, as well as filing tax returns.

Mediator

If the beneficiaries are unhappy with the will’s instructions, the executor is expected to mediate disputes to represent the best interests of all beneficiaries based on the intent of the deceased.

Creditor Claims

The probate process may require or recommend a period of time, possibly six months or longer, during which you may need to place a notice in a local newspaper to alert creditors and debtors that the deceased’s estate has entered probate. This offers ample time for debtors to file claims before the estate assets are disseminated to beneficiaries.

Due Diligence

If the will instructs you to manage the estate’s invested assets, such as money held in a trust, you are required to make prudent investment decisions. For example, just because you personally invest in Bitcoin doesn’t mean that is a fiduciary responsible investment for the decedent’s assets. You must conduct due diligence and have a reasonable rationale for all investment decisions; otherwise, a beneficiary could take you to court for mismanaging the assets. One way to protect your investment decisions is to request that beneficiaries give their approval in writing for any major investment changes you make while managing the assets.

Recordkeeping

Maintain accurate and comprehensive records of all your actions and back-and-forth communications with beneficiaries, investment managers, lawyers, and judicial filings. Record keeping is not just for your benefit; it is considered part of your fiduciary duty as the executor of the will.

Be aware that should your actions as executor come under scrutiny and/or a beneficiary files a court claim that you have been negligent, you could be removed as executor and even be liable for personal restitution and/or punitive damages if a court determines you have been self-dealing. Although unfortunate, this is not an uncommon occurrence.

Responsibilities like this are why many people, particularly those with sizeable estates, choose to name an estate attorney or professional administrator as executor of their will. This allows for a degree of professional distance that can help protect beneficiaries from mismanagement of assets without the emotions associated with naming a close friend or relative as executor.

The executor for a smaller estate is more likely to be administered with ease and can give the owner peace of mind that he’s leaving this responsibility to a trusted friend or family member.

New Tax Cut & Spending Bill, Protecting Law Enforcement, VA Benefits and Semiconductor Supply Chains

4 min read

New Tax Cut & Spending BillOne Big Beautiful Bill Act (HR 1) – Introduced by Rep. Jodey Arrington (R-TX) on May 20, this tax bill supports the president’s tax and immigration agenda. The legislation includes:

  • Making permanent the income and estate tax cuts passed in the Tax Cuts and Jobs Act of 2017
  • Waiving income taxes on cash tips, overtime pay and interest on some auto loans (ends 2028). The tip waiver would be a tax deduction of up to $25,000/year on cash-only tips for workers making less than $160,000/year; FICA taxes would still apply to tips.
  • Temporarily increasing the standard deduction (ends 2028)
  • Reducing the amount of income subject to income taxes
  • Temporarily increasing the child tax credit to $2,500 (ends 2028)
  • Increase the estate tax exemption to $15 million and adjust for inflation going forward
  • Increase the SALT cap to $40,000 for incomes up to $500,000, phasing downward for higher incomes, but increasing the cap and income threshold by 1 percent a year over 10 years

To offset the tax cuts, the bill proposes the following spending cuts:

  • Repeal or phase out clean energy tax credits
  • Reduce Supplemental Nutrition and Assistance Program (SNAP) funding by $267 billion over 10 years (and shift a higher percentage of program benefits and administration costs to states)
  • For able-bodied, food-aid beneficiaries without dependents, work requirements would increase from age 54 to 64
  • Increased work requirements for aid to parents based on the child’s age, from 18 down to 7
  • Reduce funding for Medicaid by $700 million
  • Require able-bodied Medicaid beneficiaries without dependents to engage in work, education, or service for at least 80 hours a month beginning in 2026
  • Revamp the student loan program to yield $330 billion in savings
  • Repeal the regulation that allowed students to cancel loans if their college defrauded them or closed suddenly
  • Increase leasing of public lands for drilling, mining, and logging

Additional components of the bill include:

  • Imposing stricter eligibility and income verifications for ACA exchange customers
  • Shortening the ACA enrollment period by one month
  • Prohibiting Medicaid funds from going to Planned Parenthood
  • Canceling a current regulation for minimum staffing in nursing homes
  • $46.5 billion to construct a wall along the U.S.-Mexico border
  • $6.1 billion to fund Border Patrol agents, customs officers, and investigators
  • Impose a $1,000 fee on migrants seeking asylum
  • Remove 1 million immigrants a year and house 100,000 people in detention centers
  • Eliminate the $200 tax on gun silencers
  • $150 billion in new funding for the Defense Department and national security, such as building a missile defense shield (Golden Dome), restocking the nation’s ammunition arsenal and expanding the Navy’s fleet of ships
  • New parents will receive $1,000 from the federal government via a “Trump” account for each baby born during Trump’s second term. Parents may contribute an additional $5,000 a year to the account, earnings would grow tax-deferred in a broad stock index, with qualified withdrawals (higher education, starting a business or purchasing a home after age 18; any purpose after age 30) taxed at the long-term capital-gains rate; nonqualified withdrawals taxed as ordinary income.

The House bill was passed on May 22 and now undergoes scrutiny in the Senate, where there will likely be considerable changes.

Securing Semiconductor Supply Chains Act (S 97) – This bill would enable state-level economic development organizations to increase foreign direct investment in semiconductor-related manufacturing and production. It was introduced by Sen. Gary Peters (D-MI) on Jan. 15 and passed in the Senate on May 20. The legislation is currently under review in the House.

VA Budget Shortfall Accountability Act (HR 1823) – Introduced on March 4 by Rep. Jack Bergman (R-MI), this act would instruct the secretary of the VA and the U.S. comptroller general to report on Veterans Benefits Administration funding shortfalls for fiscal year 2024 and expected funding shortfalls of the Veterans Health Administration in fiscal year 2025. The bill passed in the House on May 19 and is under consideration in the Senate.

Improving Law Enforcement Officer Safety and Wellness Through Data Act (HR 2240) – This bill would require the attorney general to provide regular reports on violent attacks perpetrated against law enforcement officers, as well as for other purposes. Introduced by Rep. Tim Moore (R-NC) on March 21, the bill passed in the House on May 15, and its fate currently lies in the Senate.

Deepfake Detection in Voice and Video

5 min read

Deepfake Detection in Voice and VideoDeepfakes are becoming more convincing than ever. Whether manipulated media or entirely generated by artificial intelligence (AI), deepfakes can now realistically alter faces and clone voices. They can even fabricate entire scenarios across video, audio, and text. Unfortunately, these developments now create significant challenges, and people can no longer trust what is presented online. Methods that have in the past been used to detect less-perfect deepfakes are becoming obsolete. There is now an urgent need to develop more effective detection solutions.

The Escalating Threat

Deepfakes are being actively used in malicious ways. It is being used to fuel misinformation, enable new forms of fraud, and erode the foundations of digital trust. An Identity Fraud Report 2024 by Sumsub noted a four times increase in the number of deepfakes detected worldwide from 2023 to 2024. A research study by iProov tested 2,000 UK and US consumers, revealing that only 0.1 percent of the participants accurately distinguished between real and fake content. These are only a few statistics on the severity of the deepfake problem.

Limitations of Current Detection

There are various tools and technologies available for detecting deepfakes, ranging from manual forensic analysis to automated AI-based solutions. These methods rely on identifying issues such as inconsistencies in blinking patterns, facial warping, extra limbs, or audio glitches. However, new AI models creating deepfakes have advanced to minimize these problems.

Therefore, relying on known flaws to detect deepfakes is not a sustainable strategy in an ever-evolving landscape.

Innovations in Detection Modalities and Speed

Innovation in deepfake detection requires an approach that will address the complexity and diverse nature of modern synthetic media. The new innovations must move beyond analyzing just one type of media.

  • Multi-Modal Detection – The latest deepfakes are multi-modal and can manipulate video, audio, and even accompanying text simultaneously. Therefore, detection software must have the capability to analyze these elements together.
  • Focus on Voice and Audio – This is especially crucial in detecting sophisticated voice deepfakes used in scams. New software is being built to analyze subtle vocal characteristics, background noise inconsistencies, and even speech patterns in combination with any available video to verify authenticity.
  • Real-Time and Scalable Solutions – There is a need for advanced systems that can detect deepfakes quickly and efficiently in livestreams and large volumes of content. Detection system developers must develop algorithms and infrastructure capable of this speed and scale.

Advancements in AI for Deepfake Detection

AI is playing a major role in the development of next-generation detection software that is beyond simple artifact detection to more sophisticated analysis.

  • Leveraging Foundation Models – Researchers are exploring large, pre-trained AI models that are behind many generative tools. Since these models are trained with vast amounts of data, they understand natural media. They can be fine-tuned and incorporated into detection software to help spot deviations that indicate synthetic origin.
  • Proactive and Generative Approaches – Some innovations are proactive, where generative models are being used to understand how fakes are made. This will allow detectors built into software platforms to anticipate and identify novel manipulation techniques even before they become widespread.
  • Towards more Robust and Explainable AI – Software development is also focusing on robustness against adversarial attacks. New training methods are being implemented to make detection software more resilient to deliberate attempts at evasion. There is also a push for Explainable AI (XAI) within detection software. This will help users understand why a piece of media was flagged.

Authentication and Verification Beyond Pure Detection

Advanced detection is bound to be challenged; therefore, next-generation solutions are incorporating methods for authentication and verification built into software systems.

  • Blockchain and Media Provenance – Exploring how blockchain technology can be utilized to create immutable records of media origin and any subsequent changes.
  • Human Element and Crowd-Sourcing – Integrating human expertise as a judgment of human expertise will help in complex cases. Crowd-sourcing expertise is also being explored as a way for platforms to scale human review.
  • Detecting Deepfakes in New Frontiers – As digital interactions move into new spaces like virtual worlds and the metaverse, detection software for these platforms is also necessary. This will help identify manipulated avatars and synthetic content within the immersive environments.
  • International Collaboration and Standards — fighting deepfakes is a global challenge, as synthetic media can easily spread worldwide. Therefore, collaboration among international researchers, governments, and technology companies is crucial. To accelerate the development and deployment of effective countermeasures, the involved parties can share data on new deepfake techniques and detection methods, as well as common technical standards.
  • Public Awareness and Digital Literacy – educating the public on how deepfakes are created and what to look for empowers them not to be duped by fakes. Promoting digital literacy helps people evaluate online content more skeptically and understand the importance of verified sources.

Conclusion

The race between deepfake generation and detection will undoubtedly continue. The ongoing development and deployment of sophisticated detection software is an important step toward safeguarding the integrity of digital media and preserving trust in everyday digital interactions. To deal with the escalating deepfake threat, passive defense is insufficient. Therefore, it is recommended to prioritize adopting integrated, next-generation detection software and verification methods to safeguard operations and trust.

Financial Implications of Marriage

4 min read

Financial Implications of MarriageMarriage isn’t just about two people who fall in love and choose to spend the rest of their lives together. It is also a contract. And while that contract might not be forever binding, marriage does come with certain financial and familial obligations regardless of whether the couple stays married or not.

That is why it is critical for couples to discuss their finances and goals early in the game. In fact, the best time to begin this conversation is actually before they begin making wedding plans. That’s because weddings can be very expensive. If the couple bears this expense, they will remove funds from their future plans and opportunities, which they should consider carefully before designing a wedding budget.

However, many times the parents of a couple will pay for the wedding. In this scenario, the newlyweds should consider how the cost of an expensive wedding would impact the paying party’s long-term financial situation. This is important because bankrupt parents could lead to a potential live-in caregiving situation once they are too old to take care of themselves. That’s quite a trade-off for a $100,000 wedding.

Takeaway: Regardless of who pays for the wedding, moderation is perhaps both prudent and considerate.

Partners also should share information about their earnings, assets, debts, and credit reports before getting married. They should discuss their career goals, preferences for children, type of housing, living location(s), and any big-ticket dreams, such as an expensive vacation or starting their own business. Together, the couple should consider each other’s goals and develop a plan to achieve those goals given their combined financial situation.

Takeaway: Note that while each spouse retains their own credit score and liability for debts prior to the marriage, joint debts acquired during the marriage are recorded on both credit reports.

Once married, couples often assume respective responsibilities, such as household earner and bill payer, while the other is a homemaker and primary child caregiver. From a financial perspective, this is not wise. It’s better for the marriage when each spouse takes turns managing finances, including paying bills, learning about investing and working with a financial advisor if they have one, being on all the joint accounts (home deed, insurance policies, etc.) and even each having their own retirement account (e.g., IRA, employer-sponsored retirement plan).

Takeaway: A collaborative approach to finances enables transparency so each spouse is aware of the other’s spending habits and bill-paying discipline.

The relationship tends to have more balance if each spouse has their own money, even if they do not work outside the home. If both spouses work, they could each have a checking account for their own personal expenses as well as a joint account used to pay for communal expenses like rent/mortgage, utilities, food, and upkeep.

Takeaway: A higher-earning spouse may contribute to a lower/no-earning spouse’s Roth IRA so that person has income to manage as they see fit.

Shared finances among married couples do offer certain benefits, such as lower costs for housing, health, long-term care, and auto insurance premiums. With particular regard to health insurance, consider if one spouse should join the other’s plan and how that might impact premiums, deductibles, and out-of-pocket expenses.

Takeaway: Find out if either spouses’ employer offers an incentive for declining coverage. This bonus income provides a good reason to join the other spouse’s plan.

Couples also have the option to compare the advantages of filing joint or separate tax returns, which may be impacted by one partner’s medical expenses or student loan debt. Also, be aware that no matter what time of year you have your wedding, as long as you are married as of Dec. 31, the IRS considers you married for the whole year for tax-filing purposes.

Takeaway: If one spouse is on an income-based student loan debt repayment plan, be aware that filing jointly with two incomes may result in higher payments than if they file separately.

Right after the wedding, there are several actions most couples should take. For example, report any name changes to the Social Security Administration; update any address changes with the Postal Service, employers, and the IRS; and supply your employers with a new W-4 withholding form.

Takeaway: If you’re taking an extended honeymoon, you might want to complete some of these tasks before your wedding day.

Rolling Back Regulations, Proving Citizenship Birth for Voting Rights, and Blocking Nationwide Injunctions

4 min read

Rolling Back Regulations, Proving Citizenship Birth for Voting Rights, and Blocking Nationwide InjunctionsProviding for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Energy relating to “Energy Conservation Program: Energy Conservation Standards for Consumer Gas-Fired Instantaneous Water Heaters (HJ Res. 20) – The House and Senate both passed a resolution negating a previous rule mandating that tankless gas-fired water heaters meet certain criteria (less than 2 gallons capacity and greater than 50,000 Btu/hour) for efficiency standards, which would have phased out non-condensing technologies. Introduced by Rep. Gary Palmer (R-AL) on Jan. 15, the resolution is awaiting signature by the president.

A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to “Overdraft Lending: Very Large Financial Institutions” (SJ Res 18) – This joint resolution, introduced by Sen. Tim Scott (R-SC) on Feb. 13, reverses a federal regulation governing overdraft fees charged by large banks. The previous rule limited overdraft fees to one of the following options: $5, cap the fee at an amount that covers costs and losses, or disclose the terms of their overdraft loan to give consumers choices for opening a line of overdraft credit, shopping for comparative loans, and determining a payment plan. The resolution passed in the Senate and the House on April 9 and presently awaits signature by the president.

SAVE Act (HR 22) – Introduced by Rep. Chip Roy (R-TX) on Jan. 3, this legislation passed in the House on April 10 and is currently under consideration in the Senate. This bill would amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register to vote in elections for Federal office. The Safeguard American Voter Eligibility Act mandates that U.S. citizens present proof of citizenship in-person to election officials when registering to vote; making changes to their voter status (i.e., address change, party change); or the state election authority requests proof of citizenship when reviewing the integrity of current rolls. Voters must show both a valid ID and documentation that indicates the applicant was born in the United States, such as a passport or birth certificate. However, should the name on the ID and birth certificate not match, the applicant would also have to present legal documentation verifying the reason, such as a marriage certificate or other legal name change certification.

NORRA of 2025 (HR 1526) – Also referred to as the No Rogue Rulings Act of 2025, this legislation would restrict district court judges from issuing nationwide injunctive relief in cases only applicable to the district court. Cases involving two or more states would be referred to a three-judge panel, which would determine whether to issue a nationwide injunction. This bill was introduced by Rep. Daryll Issa (R-CA) on Feb. 24, passed in the House on April 9, and is under consideration in the Senate..

Clear Communication for Veterans Claims Act (HR 1039) – Introduced on Feb. 6 by Rep. Tom Barrett (R-MI), this bill would direct the Veterans Affairs (VA) to partner with an outside communications agency to make benefits communications more concise and easier for veterans to understand. The bill passed in the House on April 7 and is currently under consideration in the Senate.

Vietnam Veterans Liver Fluke Cancer Study Act (HR 586) – The purpose of this bipartisan bill is to authorize the VA to study and report on the prevalence of cholangiocarcinoma in veterans who served in the areas of conflict during the Vietnam War, including South Vietnam, North Vietnam and surrounding areas like Laos and Cambodia. The study would include identifying the rate of incidence of cholangiocarcinoma from the beginning of the Vietnam era to the date of enactment of this act. The bill was introduced by Rep. Nicolas LaLota (R-NY) on Jan. 21, passed in the House on April 7 and currently lies with the Senate.

Building Deeper Customer Connections: Leveraging Web3 for Loyalty, Community, and Engagement

4 min read

Web3 for Loyalty, Community, and EngagementCompetition in business today has become fierce. Each organization is constantly looking for innovative ways to form strong relationships with its customers. Loyalty programs have been used for a long time to build a devoted customer base. As technology advances, new technologies like Web3 are emerging, offering more opportunities to revolutionize loyalty programs, build vibrant communities, and deepen customer engagement.

Transforming loyalty programs through Web3

Loyalty programs help boost customer spending and drive long-term business success. Loyalty program members also generate more revenue than non-members. In the United States alone, the average consumer belonged to more than 15 programs in 2024. However, traditional loyalty programs have encountered problems that include customer disengagement and unclaimed rewards.

Web3-based loyalty programs address these problems by leveraging blockchain technology to create a more engaging, transparent, and valuable experience for customers. With the global Web3 market having a valuation of $4.62 billion by January 2025, there is enormous potential for businesses to innovate in this space. Web3 is the next iteration of the internet, which will help businesses create deeper customer connections through decentralized technologies like blockchain, non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs).

Why Web3 Loyalty Programs

  1. Enhanced personalization and security
    Web3 loyalty programs provide enhanced customer engagement through hyper-personalization. Businesses can utilize blockchain technology to analyze customer preferences, behaviors, and interactions to customize rewards. This makes every customer feel valued. Using this approach, it becomes easy to focus on those customers who drive the majority of engagement and revenue. The decentralized nature of blockchain also ensures that data remains encrypted, secure, and only accessible with explicit consent.
  2. True ownership of rewards
    In traditional programs, loyalty points exist only within a company’s database. However, Web3 platforms create unique tokens that a customer can own and control. When customers have this kind of authentic ownership, it changes how they perceive and engage with loyalty programs that allow greater flexibility in how they use their rewards.
  3. Interoperability and expanded value
    Traditional loyalty programs, in most cases, limit rewards to a single brand or ecosystem. On the other hand, Web3 loyalty tokens function as universal currencies. This enables global redemption networks — permissionless collaboration through smart contracts and cross-sector partnerships.
  4. NTF-based loyalty rewards
    Instead of receiving generic points, a customer is issued an NFT token. The uniqueness of NFTs adds a layer of desirability and collectability, making the loyalty program more engaging and valuable. The NFTs can be potentially traded or sold on secondary marketplaces, adding more value to customers who can turn their loyalty tokens into liquid assets.
  5. Community driven engagement
    Web3 loyalty programs offer a community-centered approach through shared goals, collective rewards, and member governance through DAOs. By encouraging peer interaction it creates a sense of belonging, shifting focus from individual transactions to collective engagement.
  6. Transparency and trust
    Blockchain infrastructure provides immutable transaction records and enhanced security. Real-time reward tracking is also possible through blockchain technology. This addresses consumer concerns about traditional programs’ security risks. It also builds trust and encourages more engagement.
  7. Reduced unused rewards
    Web3 programs can implement “tokenomics” to prevent the devaluation of rewards and encourage active participation.

Navigating the Web3 landscape

While there is immense potential to build deeper customer connections with Web3, there are some considerations to help businesses approach this landscape strategically.

  • Understand your customers
    Before adopting the Web3 loyalty programs, a business must understand its customers. It is important to find out if they are receptive to these technologies, as well as their digital habits and preferences.
  • Start small
    Beginning with a pilot project and gradually integrating Web3 elements allows for learning and proper adaptation.
  • Focus on value creation
    The key to success when adopting any new technology is providing genuine value to customers. The technology should enhance the customer experience.
  • Educate customers
    Educate customers about the new adoption and provide clear guidance on how to interact with the technology.
  • Stay informed
    The Web3 landscape is rapidly evolving; therefore, it is crucial to stay informed on the latest trends and best practices.

Conclusion

Web3 presents a unique opportunity for businesses to revolutionize loyalty programs through blockchain, NFTs, and decentralized engagement. The ability to prioritize personalization, security, and true ownership will help businesses develop deeper customer connections. Although Web3 might seem complex, the potential benefits for businesses that embrace this evolving technology are significant.

Reasons to Consider Out-of-State Municipal Bonds

4 min read

Out-of-State Municipal BondsMunicipal bonds (also known as munis) are issued by a state or local government. Interest income is typically paid out twice a year and is not subject to federal taxes. When an investor purchases a bond issued from his own state, the income is generally not subject to state income taxes.

However, there are a few good reasons to consider buying out-of-state municipal bonds. The first reason is to consider bond quality. Each muni bond is given a quality rating based on the municipality’s ability to make the regular interest payments to investors and return their principal when the term matures. To make this determination, agencies like Moody’s and S&P evaluate the issuer’s debt structure, financial stability and long-term economic prospects.

Credit Quality

The highest Moody’s rating is Aaa (the lowest is C); a rating of Baa3 or higher is considered investment grade. The highest S&P rating is AAA (the lowest is D), and a rating of BBB or higher is considered investment grade. While it’s a good idea to invest in highly rated bonds, note that their yields are inversely related to their quality. In other words, the lower the rating, the higher the interest income. Just be sure to consider that with that higher yield comes a higher risk of the bond issuer defaulting. In today’s economic landscape, an average credit rating of AA/Aa is considered a good balance of risk and bond yield.

Diversification

Second, if the investor holds a portfolio of municipal bonds, owning some from other states can help diversify his bond portfolio. If the investor’s home state has lower-rated bonds, investing in higher-rated bonds from other states can lower his bond portfolio’s quality risk. On the other hand, if the investor’s home state has highly rated bonds, purchasing bonds from states with lower-rated bonds can increase the amount of income his portfolio pays out. Remember, too, that it’s important to consider both the bond yield (also known as its coupon rate) and its issuing state’s taxes in order to come out ahead.

More Choices

Note that both California and New York are high-tax states, so it’s particularly important to consider the tax situation before buying there. With that said, there are also good reasons to buy bonds in these two states because they offer a range of quality municipal bonds. On the flip side, some states have fewer bond options to choose from and a lower risk profile, leaving resident investors with few options regardless of the state tax benefit. Be aware that the majority of muni bonds are rated lower than AA in Illinois, Pennsylvania, and New Jersey.

Tax Considerations

There are seven states that do not impose state income taxes: Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming. New Hampshire recently phased out its tax on investment and interest income. If a muni bond investor lives in a state with no taxes on income, there is no benefit to limiting his purchases to in-state bonds. In this scenario, it’s a good idea to compare muni bonds from states with high-rated and high-yield bonds to build a diversified bond portfolio while also considering the annual tax bill in each of those states.

If a muni bond investor lives in a high-tax state, such as California with a 12.3 percent tax rate for residents with income in the top bracket (effectively 13.3 percent if you include the additional 1 percent surcharge on individuals earning over $1 million), then it makes sense to buy out-of-state munis to help reduce their tax burden.

Despite these general guidelines, investors should check on the muni bond tax status in their home state before making a purchase. Some states, such as Illinois, require residents to pay taxes on in-state muni bond yields. In this situation, the resident may find better deals with out-of-state munis by comparing coupon rates against the income taxes in those states.

Preventing a Government Shut Down, Rolling Back Regulations and Clarifying Cryptocurrency Protocols

3 min read

Preventing a Government Shut Down, Rolling Back Regulations and Clarifying Cryptocurrency ProtocolsFull-Year Continuing Appropriations and Extensions Act, 2025 (HR 1968) – In the nick of time before the midnight deadline that would have otherwise shut down the Federal government, Congress passed a budget bill to fund the rest of the fiscal year that ends Sept. 30. This bill increases funding for the military by $6 billion while reducing non-defense spending by $13 million. The federal funding bill also reduced the amount of funding for the District of Columbia (Washington D.C.) by $1.1 billion, which is paid for by local taxes. This final continuing resolution bill was passed in the House on March 11, in the Senate on March 14, and signed by the president on March 15.

District of Columbia Local Funds Act, 2025 (S 1077) – Just four hours after passing the CR budget bill, Senators passed this new bill to restore Washington funding back to 2024 levels. The reduction of more than $1 billion in funding threatens to impact police, fire, and other services in the city where much of Congress resides. The bill was introduced by Susan Collins (R-ME) and passed on March 14. It is currently under consideration in the House.

Bureau of Ocean Energy Management rule relating to “Protection of Marine Archaeological Resources” (SJ Res 11) – This resolution rolls back a rule imposed during the last administration by the Bureau of Ocean Energy Management. The revoked rule previously required oil and gas companies to identify and submit a report of potential archaeological resources on the Outer Continental Shelf seafloor that could be affected by development. The joint resolution was introduced by Sen. John Kennedy on Feb. 4. It passed in the Senate on Feb. 26 and in the House on March 6. The bill was signed by the president on March 14.

Protect Small Businesses from Excessive Paperwork Act of 2025 (HR 736) – Introduced by Rep. Zach Nunn (R-IA) on Jan. 24, this legislation passed in the House on Feb. 10 and is currently under consideration in the Senate. The purpose of the bill is to extend the filing deadline to the end of the year for businesses to report beneficial ownership information (BOI). This would give the Department of Treasury time to reconsider rules implemented during the Biden administration in order to make sure small businesses are not burdened by excessive and complex regulations. 

GENIUS Act of 2025 (S 919) – This bipartisan bill was introduced by Sen. Bill Hagerty (R-TN) on March 10. It would establish licensing and regulatory requirements for stablecoins, which are cryptocurrency tokens used in the crypto economy and traditional financial markets. Among its provisions, the bill would enable states to regulate stablecoin issuers with a market capitalization of under $10 billion, while larger issuers would be regulated at the federal level. This bipartisan legislation is currently in the early stages of committee reporting.