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Michelle Obama spotlights reproductive rights and women’s role in America

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This is the introduction to Checks and Balance, a weekly, subscriber-only newsletter bringing exclusive insight from our correspondents in America.

James Bennet, our Lexington columnist, considers Michelle Obama’s contributions to the last few days of the Democratic campaign

As you might expect, I’ve listened to many campaign speeches this year. To me, the most interesting of the lot was the one Michelle Obama delivered on Saturday in Kalamazoo, Michigan, where she introduced Kamala Harris before about 5,000 people packed into a small arena. Besides her speech at the Democratic convention, it was her only appearance on the campaign trail. She made the case against Donald Trump with glacial contempt. But the heart of the speech was an account of the importance of reproductive rights that framed the matter in terms of women’s health more broadly and even of their place in the family and the nation’s politics.

Mrs Obama said that, rather than learning to talk about their reproductive health, women and girls had been “taught instead to feel shame and to hide how our bodies work”. As the crowd fell silent, rapt, she went on, in concrete and even graphic terms I’ve never heard a politician use, to speak first about the experience of girls in puberty. And then “at the other end of the reproductive timeline”, she continued, “too many women my age have no idea what’s going on with our bodies as we battle through menopause and debilitating hot flashes and depression.” Would you have expected that to be an applause line? The crowd went wild, cheering and clapping: I suspect this is what people must mean when they talk about “feeling seen”.

Mrs Obama may have been relating to the other women in the room, and those who might watch a video later, but she was also trying to reach men. “See, fellows,” she went on, “most of us women, we suck up our pain and we deal with it alone.” Mr Trump has been holding himself out on the campaign trail as the protector of women, “whether the women like it or not”, as he put it in Wisconsin on Thursday. Mrs Obama was urging women to protect themselves, but also calling on men to stick up for them, in their own interest, too. She conjured an image of “your wife shivering and bleeding on the operating room table” after a botched delivery and warned, “You will be the one pleading for somebody, anybody, to do something.”

The contrast could not have been more stark with Mr Trump’s event at Madison Square Garden the following evening. Like all his events it had a masculine vibe, in part because most of the many speakers were men; in part because one of those men was a professional wrestler, another runs an ultimate fighting league and a third was Elon Musk; and in part because the humour was directed at people who would find it funny to hear Ms Harris’s aides called “pimp handlers”. There were plenty of women in the audience who were laughing, too.

Pollsters may once again have underestimated Mr Trump’s support, and he may have this election in the bag. On the other hand, this is the first campaign he has run since the Supreme Court struck down Roe v Wade, as he wanted it to, and no one can be certain how motivating that issue will prove. Regardless of who wins, the political movement to restore reproductive rights, as I mention in Lexington this week, is changing the country and its politics in profound ways, and I think the combination with Ms Harris’s candidacy probably marks a permanent shift in expectations about women’s rightful roles in public life. Mr Trump has made so much that was once abnormal in politics seem normal. In this, more hopeful way, Ms Harris has, too.

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Economics

At the state level, democracy in America is fracturing

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The residents of Bristol, Tennessee and Bristol, Virginia share a border, a downtown and even a Nascar speedway. But thanks to the quirks of American federalism, the 27,800 Bristolians who live in the Volunteer State reside in America’s least democratic state, while their 16,800 neighbors to the north live in one of the most democratic.

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Economics

BOI Reporting and the impact of the recent Federal Injunction

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The Corporate Transparency Act (CTA) is a legislative measure designed to enhance financial transparency

The Corporate Transparency Act (CTA) is a legislative measure designed to enhance financial transparency and mitigate risks such as money laundering, terrorist financing, and other illicit financial activities. The CTA aims to close loopholes and create a fairer business environment by requiring certain entities to disclose their beneficial ownership information. However, recent legal developments have temporarily impacted compliance requirements, bringing attention to the act’s ongoing litigation and implementation.

Federal Court Decision and Its Implications

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al. (No. 4:24-cv-00478). This injunction temporarily halts the enforcement of the CTA, specifically its beneficial ownership reporting requirements. Additionally, the court order stays all deadlines for compliance.

As a result, reporting companies are currently not obligated to submit beneficial ownership information (BOI) reports to the Financial Crimes Enforcement Network (FinCEN). During the injunction, these entities are also shielded from liability for non-compliance with CTA mandates.

Despite this pause, FinCEN has clarified that companies may still voluntarily submit their BOI reports. This voluntary reporting option remains available for businesses that wish to align with the CTA’s transparency goals.

Overview of the Corporate Transparency Act

The CTA mandates that certain entities provide information about their beneficial owners—individuals who own or control a business. The act is intended to increase transparency, enhance national security, and reduce the anonymity that can facilitate financial crimes.

While the CTA has garnered support for its objectives, it has also faced legal challenges questioning its constitutionality. Courts in different jurisdictions have issued varying rulings, with some upholding the law and others granting temporary injunctions. For example, district courts in Virginia and Oregon have ruled in favor of the Department of the Treasury, asserting the CTA’s alignment with constitutional principles.

Compliance During the Injunction

Currently, the federal injunction exempts businesses from mandatory BOI filing requirements nationwide. This temporary halt will remain in place until further developments, such as a decision by an appellate court or a reversal of the injunction.

In response to the ruling, the Department of Justice, representing the Department of the Treasury, has filed an appeal. While the case proceeds through the legal system, FinCEN has confirmed its compliance with the court order.

Looking Ahead

The legal proceedings surrounding the CTA highlight the evolving nature of financial regulation. As courts continue to deliberate, businesses should monitor updates to remain informed about their obligations. By staying informed and prepared, businesses can effectively manage their compliance responsibilities and contribute to efforts that promote financial integrity and transparency.

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Economics

After a chaotic scramble, Congress strikes a budget deal

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Donald Trump is the most powerful Republican politician in a generation, but the president-elect is still no match for the most nihilistic members of his own party. The budget chaos that unfolded on Capitol Hill as the Christmas break approached is only a preview of the difficult realities Mr Trump will face when he starts to govern next month.

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