Posts tagged #economy

Louisiana Leads the Nation on 5th Annual St. Joseph the Worker Day as Wisconsin Joins

Baton Rouge, Louisiana – Louisiana is leading the nation in recognizing the everyday heroes who power American families and communities. A bold new billboard, erected in preparation for the 5th Annual St. Joseph the Worker Day, is now up along highly visible Interstate 10, between Lafayette and Baton Rouge. This stretch carries an estimated 70,000+ vehicles per day and serves as a major freight corridor supporting high-volume commerce, tourism, and regional connectivity across the state. The billboard stands as a prominent reminder of Louisiana’s statewide May 1st “Thank a Worker” day.

Louisiana Governor Jeff Landry said:

“Louisiana is leading the nation in recognizing the dignity and importance of work by establishing St. Joseph the Worker Day on May 1st of each year. America was built on the backs of hardworking men and women, and we ought to be celebrating their vital contributions. I’m proud that Wisconsin has joined Louisiana as the second state in the nation to embrace this effort, and we encourage all states to follow our lead. On May 1st, I invite every family, business, church, civic and community organization to join the ‘Thank a Worker’ movement with simple acts of gratitude that honor the true strength of our great state and our great nation.”

Louisiana St. Joseph the Worker Day was unanimously established in 2021 through Louisiana Senate Resolution No. 116. The observance pays tribute to all workers and their contributions. This includes military personnel, educators, first responders, healthcare providers, energy workers, farmers, fishermen, mechanics, restaurant staff, barbers and beauticians, administrative professionals, finance experts, and many others. It gives special recognition to mothers, who are believed to hold the most important vocation of all.

In this era of rapid technological change and artificial intelligence, May 1st serves as a timely reminder of the irreplaceable value of human creativity, care, and dedication. In 2025, Wisconsin became the second state in the nation to formally adopt the observance through Senate Joint Resolution 16, recognizing May 1st of each year as Wisconsin St. Joseph the Worker Day.

Wisconsin Senator Cory Tomczyk said: “Wisconsin proudly joins Louisiana to honor our workers—farmers, factory workers, teachers, tradespeople—who reflect St. Joseph’s humility, perseverance, and service. This resolution affirms work’s vital role in thriving communities.”

While the United States spotlights American workers with a federal holiday on Labor Day — the first Monday in September — this movement seeks to reclaim May 1st as another special day to champion our nation’s workers. Globally, May 1st has long been observed as International Workers’ Day. While that observance has often emphasized state power and class divisions, a more hopeful vision emerged in 1955 when Pope Pius XII established the worldwide feast of St. Joseph the Worker on the same date. This feast draws inspiration from St. Joseph, the humble carpenter whose life modeled dignity, dedication, patience, humility, and service.

This initiative is a non-partisan, grassroots effort and invites all people to affirm the dignity of labor and the human spirit.

“Louisiana’s working men and women deserve our recognition for what they do each and every day,” said Scott A. Angelle, Former Lieutenant Governor of Louisiana and former Director of the Bureau of Safety and Environmental Enforcement (BSEE), U.S. Department of the Interior and one of the founders of the St. Joseph the Worker Initiative. “It’s only right that we call a time-out to express our gratitude to those who are able and willing to get up each morning, put in an honest day’s work, and provide for their families. Their grit not only strengthens our communities but sets a powerful example for the next generation.”

Businesses, schools, churches, organizations, and families are encouraged to participate through simple, heartfelt acts such as:

• Hosting a St. Joseph the Worker Day breakfast for employees or first responders

• Buying coffee for a delivery driver or neighbor

• Writing thank-you notes to teachers and healthcare workers

• Offering “lagniappe” (a Cajun term for a little something extra) to those who serve

Every act counts. A growing number of organizations have already committed to participating, including Ochsner Lafayette General Hospital, St. Thomas More Catholic High School, and USA Energy Workers.

While participation is voluntary and free, organizations and individuals are invited to register their ‘Thank a Worker’ activities at saintjosephtheworker.com.

Posted on April 24, 2026 and filed under Economy, Jeff Landry, Louisiana.

Investor Protections and Confidence Are Key to Crypto Innovation

After a decade of explosive growth, digital assets are rightfully moving into the financial mainstream. Financial institutions from NYSE to Nasdaq are investing in plans to integrate digital assets and tokenized securities. Even U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins has claimed that much of the financial system could move on-chain within "a couple of years." 

In preparation for this shift, the SEC is expected to announce an innovation exemption for tokenized securities in the coming days. Yet there’s a looming question on what level of investor protections will be included in this new era of finance and if new rules will ensure modern markets benefit every day American investors.

Read more: Investor Protections and Confidence Are Key to Crypto Innovation

Posted on April 22, 2026 and filed under Economy.

OPINION: Congress Needs to Protect Louisianans in the Crypto Marketplace

President Trump’s pledge to make America the crypto capital of the world underscores the growing urgency for Congress to act. In fact, Congress now has a pivotal opportunity to strengthen America’s leadership in digital assets by advancing clear, responsible rules that promote both innovation and trust. 

In recent Senate floor remarks on the crypto market structure bill, Senator John Kennedy (R-LA) underscored the importance of modernizing markets the right way: “[This bill] is one of the most important pieces of legislation that this body will consider … I hope we’ll move it quickly, but I hope we’ll move deliberately.” His words should guide Congress as it seeks to provide clear rules for digital assets and the trust and confidence necessary for hardworking Louisianians to confidently participate in the next era of the stock market. 

Louisiana stands to benefit from a thoughtful federal framework for digital assets. Our state has long punched above its weight in energy, petrochemicals, shipping and logistics. Similarly, we should aim to lead in financial innovation. State lawmakers voted this past year to assess how cryptocurrency, AI and blockchain can be used in public and commercial sectors. But effective leadership comes only with responsibility. Transparent markets and robust anti-fraud enforcement protect investors from falling prey to fraud, scams and other kinds of financial crimes. It’s not enough to clear the way for technological innovation; we must safeguard the people who place their trust, savings and financial futures in these markets.

Innovation and clarity must move hand in hand with accepted investor safeguards that have proven essential for traditional markets. When digital-asset platforms execute poorly, fail to safeguard customer assets or operate in the shadows, ordinary investors and lifelong savings are exposed. Moreover, if we leave investors behind, today’s innovation will morph into a financial fad. 

For Louisiana, the stakes are clear. We have an opportunity to attract fintech investment, encourage digital asset infrastructure and support job growth in our state. However, we’ll only reap these benefits if lawmakers deliver an investor-first framework that fosters innovation, opportunity and market trust for all Louisianians. 

In Washington’s rush to “win the crypto race,” let’s not lose sight of the people who are participating in that race: retirees, small business owners, teachers and workers here in Louisiana who deserve both opportunity and protection. 

As Congress debates, I join Sen. Kennedy in urging: Let’s move quickly and let’s move deliberately.

DK Willard
Sterlington, LA

Posted on October 24, 2025 and filed under Economy.

OPINION: Washington Must Close the Stablecoin Loophole Before It Hurts Louisiana Families

When Congress passed the GENIUS Act earlier this year, lawmakers made their intent clear: payment stablecoins were designed to function as digital payment tools — not as unregulated, interest-bearing deposits. Section 4(a)(11) of the law explicitly prohibits stablecoin issuers from paying any form of interest or yield, whether in cash, tokens, or any other form of compensation, to those who hold them.

But even before the ink dried, large financial and technology companies began testing the limits of that prohibition. They’ve rebranded interest as “rewards,” “rebates,” and “cashback” programs — using marketing language to disguise what are effectively yield payments. These schemes may skirt the letter of the law, but they violate its spirit and threaten to undermine the stability of the U.S. financial system.

If these loopholes remain open, the fallout could be severe. Treasury officials have warned that as much as $6.6 trillion in bank deposits could migrate into unregulated stablecoin markets. That would drain funding from the community banks that keep Louisiana’s economy moving — the same institutions that make loans to small businesses, family farms, and first-time homebuyers. Fewer deposits mean fewer loans, higher interest rates, and tighter credit for working families across the state.

To protect consumers and preserve financial stability, the Department of the Treasury should move quickly to close the loophole. Treasury can do this by:

  1. Making clear that the GENIUS Act’s prohibition covers any direct or indirect transfer of value for holding stablecoins, no matter how it’s labeled.

  2. Defining “interest” and “yield” broadly to include all economic benefits — from cash and tokens to fee reductions and promotional credits — that function as a return on holding stablecoins.

  3. Extending the prohibition to affiliates and third-party partners, ensuring companies cannot bypass the law by routing payments through intermediaries.

Without decisive action, Washington’s well-intentioned law could unintentionally destabilize the banking system, weaken credit markets, and harm the very families and small businesses it was meant to protect.

For conservatives, this is a simple issue of accountability and fairness. Stablecoins may be the future of payments, but they cannot be allowed to operate as unregulated, yield-bearing products that hollow out community banks and reward corporate rule-breaking.

Treasury has the authority to act — and the responsibility to ensure that innovation doesn’t come at the expense of Louisiana’s economic stability.

Posted on October 7, 2025 .

OPINION: Protect Louisiana Small Business Owners and Consumers

The current economic climate has forced Americans to pinch pennies any way they can. One of the most common ways individuals save money, but also make responsible investments, is building credit. Researching which credit card is right for you is a vital component in ensuring you’re making the smartest financial decisions. One of the greatest perks consumers look for in a credit card is the perks and rewards associated. 

The Credit Card Competition Act is an ongoing debate in Congress. This legislation seeks to expand on an existing credit card policy that provided large retailers with a shocking profit increase. On the surface, more competition sounds like a great idea - but not at the expense of small business owners and consumers. Essentially, banks will be mandated to offer retailers two unaffiliated networks to process credit card transactions.  

Those in support of the Credit Card Competition Act claim this will lower credit card fees. In theory, of course, that sounds like a great idea. However, the actual repercussions of this legislation are costly.  If passed, these regulations will limit the ability of credit card companies to generate revenue- forcing them to find compensation elsewhere like raising fees and interest rates. Higher costs will drive consumers away from the businesses that have unfortunately been left with no choice. 

Leaders in Washington should be doing everything in their power to protect the small business owners - the backbone of our economy. My daughter and son-in-law’s family own a convenience store and have experienced firsthand how tough today’s economic conditions have impacted small businesses. Credit cards offer small businesses, like theirs, flexibility in their expenses and purchasing. Stricter regulations will limit the types of credit cards that small businesses, such as theirs, can accept, which will drive consumers away and towards big box retailers, such as Walmart and Target, who can withstand such drastic changes.  

The effects of the Credit Card Competition Act will negatively impact small businesses in Louisiana, such as our family’s, for many years to come. I urge US Senator John Kennedy and US Senator Bill Cassidy to protect Louisiana’s small businesses and consumers. 

Quin Bates
Marrero, LA

Posted on March 13, 2024 and filed under Economy, Louisiana.

OPINION: Unwrapping a Potential Threat to Small Businesses and Consumers This Christmas

Creator: Joe Raedle | Credit: Photographer: Joe Raedle/Getty I

For many small businesses, the holiday season is an opportunity to increase revenue and reach a larger customer base. Up to 25% of a small business’ revenue comes from the holiday season. 

As for consumers, this means using a credit card. However, they could be much less likely to reach for one should the points and rewards systems offered cease to exist. 

For every credit card swipe, the retailer pays a "swipe fee" of 2-3%. The money goes to credit card companies and the banks that issue the cards to cover their processing and security costs.

Congress is considering the Credit Card Competition Act, a bill requiring dual-mandated networks for businesses to choose from. The intention is to reduce swipe-fee costs for businesses and consumers, but the reality isn't quite so. 

This act would increase the cost for credit card companies to fight fraud due to the exhaustive resources required by the dual-mandated networks– meaning that point rewards could be on the chopping block, even for big card companies like Visa and MasterCard.  This bill also requires that networks give away card security technology for free– eliminating all chances of security advancement in the near future.

The CEO of the Credit Union National Association, former congressman Jim Nussle, issued a statement earlier this year calling it "reprehensible that at a time when hard-working Americans are already feeling the financial pinch from inflation, big box bullies are pushing for financial breaks that would risk both the data security and access to credit for consumers and small business owners.”

While the legislation has bipartisan support in both the House and the Senate, this threat to your hard earned money could be coming by the end of the holiday season. Nearly 10,000 small businesses in Louisiana closed this year, and more could be on the way if this bill were to pass as it is written. 

If you are opposed to the Credit Card Competition Act of 2023, contact Senator Kennedy and tell him to oppose Durbin’s bill.

Alton Phillips
Monroe, LA

Posted on December 6, 2023 and filed under Economy.

Kennedy explains why wages are falling under Bidenomics: “They haven’t kept up with inflation”

“The average wage of the average American has gone down after inflation. . . . workers have actually lost ground. Workers today—in Nov. of 2023—are actually making less per hour after inflation than they were in Feb. 2021.”

WASHINGTON – Sen. John Kennedy (R-La.) today detailed how real wages have fallen for Americans because of the persistent inflation under Pres. Joe Biden. Kennedy noted that weekly wages, when adjusted for inflation, have decreased 3.9% since President Biden’s first full month in office.

Key comments from Kennedy’s remarks include:

Pres. Biden’s inflation—which is man-made, and that man’s name is Joe Biden—is costing my people, the average Louisiana family, $806—not a year—a month! Eight-hundred-and-six dollars a month. That's $9,700 a year. Now imagine, if you were making $55,000 a year and you've got to come out-of-pocket with an extra $9,700 a year.”

. . .

What [Americans] care about is prices going down, and that’s de-inflation, and we do not have de-inflation. The point I'm trying to make is: We're stuck with these high prices. If they get inflation down to zero, those prices are not going down.”

. . .

Since Pres. Biden has been in office, consumer goods in the United States of America are up 17%.”

. . .

The average wage of the average American has gone down after inflation. . . . The appropriate way to look at wage increases is not to look at the raw or the aggregate increase—[it’s] looking at the increase after inflation.

And if you take all the average wage increases in the United States of America, and you look at the average inflation in the United States of America, workers have actually lost ground. Workers today—in Nov. of 2023—are actually making less per hour, after inflation, than they were in Feb. 2021.”

Kennedy’s full remarks are available here.










Posted on November 8, 2023 and filed under John Kennedy.

Business Groups Sue EPA Over Water Rule

In a major development in the ongoing battle over environmental regulations, several business associations have filed a lawsuit against the Environmental Protection Agency (EPA) and the Army Corps of Engineers challenging their new Waters of the United States (WOTUS) rule. The Kentucky Chamber of Commerce, the U.S. Chamber of Commerce, the Associated General Contractors of Kentucky, the Home Builders Association of Kentucky, the Portland Cement Association, and the Georgia Chamber of Commerce are among the plaintiffs in the case.

The new WOTUS rule significantly expands the authority of the EPA and the Army Corps of Engineers, using vaguely defined terms to cover millions of acres of water and land features, including ponds, farms, and backyards. This has created confusion and uncertainty for landowners, businesses, and farmers, who are now required to hire expensive consultants and experts to determine whether they need permits to use their land. If they make a mistake, they could face significant penalties.

“While the Administration has laid out ambitious climate and infrastructure goals, they will not be achievable with this Waters of the United States rule, which creates needless uncertainty and endless red tape and requires businesses of all sizes to navigate an expensive and time-consuming permitting process,” said Marty Durbin, Senior Vice President of Policy at the U.S. Chamber of Commerce.

The business associations argue that the new rule exceeds the federal government’s statutory authority and is difficult to understand and use. They are asking the court to stop the WOTUS rule from going into effect while the litigation is pending by issuing an injunction, and ultimately to find the rule invalid.

“Businesses and landowners in Kentucky and across the country need predictable, stable regulations that stay within the bounds of the law and provide clear, workable rules of the road for private enterprise,” said Ashli Watts, President and CEO at the Kentucky Chamber of Commerce. “Federal, state, and local government agencies all have a role to play as partners with business in protecting clean water and the environment—but each agency must stay in its lawful lane and avoid overreach. We and our fellow plaintiffs are bringing this lawsuit to protect the interests of our members and promote a regulatory environment that is fair, economically sustainable, and legally durable.”

This is not the first time WOTUS regulations have been subject to legal battles. The previous administration attempted to provide clear definitions to comply with legal requirements, but the Biden Administration's new rule has created uncertainty and confusion, which the business associations argue is unnecessary.

The Portland Cement Association and the Georgia Chamber of Commerce have also joined the lawsuit as co-plaintiffs. The Chamber of Commerce believes that the Administration should have waited for guidance from the Supreme Court before issuing these new regulations, which are likely to be rendered out of date by the Court's upcoming decision in the Sackett v. EPA case.

Posted on March 1, 2023 and filed under EPA.