US debt ceiling Bill passes House with broad bipartisan support - The Straits Times

WASHINGTON – A divided United States House of Representatives passed a Bill to suspend the US$31.4 trillion (S$42.4 trillion) debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition from hard-line conservatives and avoid a catastrophic default.

The Republican-controlled House voted 314-117 to send the legislation to the Senate, which must enact the measure and get it to President Joe Biden’s desk before a Monday deadline, when the federal government is expected to run out of money to pay its bills.

“This agreement is good news for the American people and the American economy,” Mr Biden said after the vote.

“I urge the Senate to pass it as quickly as possible so that I can sign it into law.”

The measure, a compromise between Mr Biden and House Speaker Kevin McCarthy, drew opposition from 71 hard-line Republicans.

That would normally be enough to block partisan legislation, but 165 Democrats – more than the 149 Republicans who voted for it – backed the measure and pushed it through.

Republicans control the House by a narrow 222-213 majority.

The legislation suspends – in essence, temporarily removes – the federal government’s borrowing limit through January 1, 2025.

The timeline allows Mr Biden and Congress to set aside the politically risky issue until after the November 2024 presidential election.

It would also cap some government spending over the next two years, speed up the permitting process for certain energy projects, claw back unused Covid-19 funds and expand work requirements for food aid programmes to additional recipients.

Hard-line Republicans had wanted deeper spending cuts and more stringent reforms.

“At best, we have a two-year spending freeze that’s full of loopholes and gimmicks,” said Representative Chip Roy, a prominent member of the hard-line House Freedom Caucus.

Progressive Democrats – who along with Mr Biden had resisted negotiating over the debt ceiling – oppose the Bill for a few reasons, including new work requirements from some federal anti-poverty programmes.

“Republicans are forcing us to decide which vulnerable Americans get to eat or they’ll throw us into default. It’s just plain wrong,” said Democratic Representative Jim McGovern on Wednesday.

Late on Tuesday, the non-partisan Congressional Budget Office said the legislation would result in US$1.5 trillion in savings over a decade.

That is below the US$4.8 trillion in savings that Republicans aimed for in a Bill they passed through the House in April, and also below the US$3 trillion in deficit that Mr Biden’s proposed budget would have reduced over that time through new taxes.

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2023-06-01 01:48:00Z
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US House passes debt ceiling deal as default threat looms - CNA

It would also cap some government spending over the next two years, speed up the permitting process for some energy projects, claw back unused COVID-19 funds, and expand work requirements for food aid programs to additional recipients.

Hardline Republicans had wanted deeper spending cuts and more stringent reforms.

"At best, we have a two-year spending freeze that's full of loopholes and gimmicks," said Representative Chip Roy, a prominent member of the hardline House Freedom Caucus.

Progressive Democrats - who along with Biden had resisted negotiating over the debt ceiling - oppose the bill for a few reasons, including new work requirements from some federal anti-poverty programs.

"Republicans are forcing us to decide which vulnerable Americans get to eat or they'll throw us into default. It's just plain wrong," said Democratic Representative Jim McGovern on Wednesday.

Late on Tuesday, the non-partisan Congressional Budget Office said the legislation would result in US$1.5 trillion in savings over a decade. That is below the US$4.8 trillion in savings that Republicans aimed for in a bill they passed through the House in April, and also below the US$3 trillion in deficit that Biden's proposed budget would have reduced over that time through new taxes.

In the Senate, leaders of both parties said they hoped to move to enact the legislation before the weekend. But a potential delay over amendment votes could complicate matters.

Republicans said Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell could need to allow votes on Republican amendments to ensure quick action.

But Schumer appeared to rule out amendments on Wednesday, telling reporters: "We cannot send anything back to the House, plain and simple. We must avoid default."

Senate debate and voting could stretch into the weekend, especially if any one of the 100 senators tries to slow passage.

Hardline Republican Senator Rand Paul, long known for delaying important Senate votes, has said he would not hold up passage if allowed to offer an amendment for a floor vote.

Senator Bernie Sanders, a progressive independent who caucuses with the Democrats, said that he would vote against the Bill due inclusion of an energy pipeline and extra work requirements. "I cannot, in good conscience, vote for the debt ceiling deal," Sanders said on Twitter.

In a win for Republicans, the bill would shift some funding away from the Internal Revenue Service, although the White House says that should not undercut tax enforcement.

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2023-05-31 22:52:00Z
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Blinken urges China 'open lines of communication' after plane incident - CNA

"I think it only underscores why it is so important that we have regular, open lines of communication including, by the way, between our defence ministers," Blinken said.

"The most dangerous thing is not to communicate and, as a result, to have a misunderstanding and miscommunication," Blinken said.

"And as we said repeatedly, while we have a real competition with China, we also want to make sure that doesn't veer into conflict and the most important starting point for that are regular lines of communication."

Blinken cancelled a trip to Beijing in February after the United States said it spotted a surveillance balloon from China over the US mainland.

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2023-05-31 15:19:00Z
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Nepali sherpas save Malaysian climber in rare Everest 'death zone' rescue - CNA

Gelje said he convinced his Chinese client to give up his summit attempt and descend the mountain, saying it was important for him to rescue the climber.

"Saving one life is more important than praying at the monastery," said Gelje, a devout Buddhist.

Tashi Lakhpa Sherpa of the Seven Summit Treks company, which provided logistics to the Malaysian climber, declined to name him, citing his client's privacy. The climber was put on a flight to Malaysia last week.

Nepal issued a record 478 permits for Everest during this year's March to May climbing season.

At least 12 climbers have died – the highest number for eight years, and another five are still missing on Everest's slopes.

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2023-05-31 13:17:00Z
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Right-hand man of mastermind in S$39.9m SkillsFuture fraud gets over 13 years' jail - CNA

SINGAPORE: The right-hand man of a mastermind who engineered the largest fraud involving Government funds to date was sentenced to jail for 13 years and nine months on Wednesday (May 31).

Lim Wee Hong David, 44, was part of the syndicate that submitted more than 8,300 fraudulent claims to SkillsFuture Singapore for training course subsidies when no training was conducted.

SkillsFuture was duped into disbursing almost S$40 million (US$29.6m), of which S$21.3 million was laundered away and remains unaccounted for.

Lim pleaded guilty to 15 charges, which include conspiring to convert or transfer criminal proceeds, conspiring to conceal criminal proceeds and forgery of a valuable security. Another 33 charges were considered in sentencing.

The syndicate exploited the SkillsFuture Singapore Course Fee Grant scheme, where business entities in Singapore can apply to SkillsFuture for a subsidy if they send their employees to attend skills training courses with registered training providers.

The masterminds behind the fraud, husband-and-wife pair Ng Cheng Kwee and Lee Lai Leng, registered nine entities as applicant entities or training providers from January 2017.

Lim was roped in as he was Ng's friend since 2011. He also introduced another co-accused to the couple, who later helped in the criminal scheme.

The group agreed on a scheme to submit false course fee grant claims to cheat SkillsFuture into disbursing training grants.

The mastermind couple used different computers to submit such false claims online, using their relatives' details and Singpass login credentials.

Between April and October 2017, the nine entities submitted 8,381 course fee grant applications and a corresponding 8,391 claims, lying that three training providers had provided courses to 25,141 employees of the six applicant entities.

Most of the applications and claims were approved automatically, with S$39.9 million disbursed to eight of the nine entities.

After the money was disbursed to the corporate bank accounts of the eight entities, more than S$27.8 million was withdrawn in cash by members of the syndicate.

Lim was involved in the scheme from the start, helping to submit false claims, recruiting a friend to submit false claims and encashing cheques.

He also acted on Ng's instructions by collecting S$2.6 million in two bags and passing the money to two unknown people.

SkillsFuture noticed that the nine entities used by the syndicate had made abnormally high numbers of course fee grant claim submissions.

It lodged a police report in November 2017.

The prosecution sought at least 168 months to 178 months' jail for Lim, calling this an unprecedented case of fraud on a public institution.

The public funds allocated to SkillsFuture were meant to help Singapore businesses train and upskill their employees and build a more resilient workforce, said the prosecution.

Instead, Lim and his co-accused pilfered the public funds, causing immense financial losses and reputational harm to SkillsFuture.

Lim's jail term was backdated to November 2017. He has been on remand for more than five years.

The other members have been sentenced to varying jail terms, with Ng receiving 17 years and nine months' jail in 2021. His wife was given 14 years' jail.

SkillsFuture previously said it had acquired new capabilities such as fraud analytics since the incident. It has also put in place new processes to prevent, detect and respond to fraud and abuse.

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2023-05-31 08:08:47Z
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1MDB suspect questioned about Jho Low dies of stroke in Malaysia - CNA

KUALA LUMPUR: A 56-year-old man who was questioned by Malaysian graft-busters about the whereabouts of fugitive financier Low Taek Jho, or Jho Low, has died. 

According to a statement issued by lawyers representing the late Mr Kee Kok Thiam and his family on Wednesday (May 31), Mr Kee died on Monday “of a sudden massive stroke” in a hospital. 

“We urge all parties not to entertain any speculation on this unfortunate event and allow the family the space to grieve on his passing,” said the statement. 

CNA understands that Mr Kee had been questioned by the Malaysian Anti-Corruption Commission (MACC). 

Separately, an MACC source told CNA that Mr Kee had met with the agency when he first returned to Malaysia in early May. 

Pictures of Mr Kee were seen by CNA at the funeral on Wednesday. The cremation ceremony at the Kepong Crematorium in northern Kuala Lumpur ended at 9.30am. 

Mr Kee was a suspect in the 1Malaysia Development Bhd (1MDB) financial scandal. He informed local authorities about the whereabouts of Low, according to local media.

According to the New Straits Times, Mr Kee was Low's associate and had been deported from Macao for overstaying his visa. He was arrested at Kuala Lumpur International Airport Terminal 2 (KLIA2) in early May and was questioned upon his return. 

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2023-05-31 04:17:00Z
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Evacuation alerts, sirens cause panic in Seoul after North Korea satellite launch - The Straits Times

SEOUL - Wailing air raid sirens and cellphone alerts calling for rare evacuations rattled residents of the South Korean capital Seoul early on Wednesday after North Korea launched what it said was a satellite.

North Korea launched the rocket towards the south, South Korea’s military said, prompting emergency alerts and evacuation warnings in parts of South Korea and Japan.

“I was so panicked, 911 lines were busy and the Internet was slow,” said Ms Lee Ju-yeon, 33, a resident in the densely populated city of 9.6 million who has a nine-month-old child. “So without knowing what was really happening, I was about to head down to a basement wearing a wrap carrier with my baby.”

The sirens started in Seoul at 6.32am (5.32am, Singapore time) as the city issued a “Presidential Alert” asking citizens to prepare for potential evacuation.

Then came a second mobile alert minutes later calling for an actual evacuation, which remained in place for at least 10 minutes until the city authorities said it was a false alarm sent in error.

Ms Lee did not evacuate after seeing a television headline saying it was a North Korean space vehicle flying farther south, but she showed photographs of friends packing bags, readying to leave.

While residents of Seoul are used to living in the shadow of threats from their nuclear-armed neighbour, an element of complacency has crept in among many in the city about the risks and how to respond.

The two countries are still technically at war seven decades after the Korean War ended in an armistice.

Some office workers in the central district said they had considered during their commute how to respond to the alarm, such as by withdrawing cash or hoarding water.

“I understand it was a mistake, but even if it has to be simple, that alert message should have said what went on and where to go,” said Mr Kim Jong-hyun, 48, who was on his way to work after dropping off his child at school.

Later on Wednesday, Seoul Mayor Oh Se-hoon apologised for confusion over the city’s alert but defended the decision to send one as a precaution for public safety. He said the city would improve the wording in future messages and on warning systems.

“Alerts” and “evacuation” were trending topics on Twitter in South Korea on Wednesday morning, with confused tweets scrambling to grasp what was going on or to find evacuation areas.

“Hey guys, given Twitter is still working, I guess it is not a war,” one user with the handle @Kimisnim__ said. REUTERS

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2023-05-31 00:25:00Z
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