Newsletter: Ports, YODA, and Prediction Markets

Texas Ports

It was a privilege to host Congressman Fleischmann, Chair of the Energy and Water Appropriations Subcommittee, in the Coastal Bend last week for a tour of many of the incredible ports and organizations helping push American energy dominance forward. 

Thank you to the Ports of Corpus Christi, Calhoun, Palacios, Galveston, and Houston for hosting us throughout the week to talk through how we can continue to support forward movement in the economic growth of the Gulf of America. 

Every week, we hear news of American energy production shattering previously held records. This work is starting in Texas, particularly in the Gulf, and now is the time to ensure we are providing the necessary infrastructure investments and permitting reform to help meet the moment. It is an honor to work alongside Chairman Fleischmann as Vice Chair of the Energy and Water Subcommittee in ensuring we are responsibly stewarding resources towards real energy production. 

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Protecting Data Privacy

It is no secret that Big Tech has commodified personal and private data as a product to be sold for profit. Because of this, last week on May 4th, I reintroduced the You Own the Data Act (YODA), reaffirming personal ownership of user data, prohibiting companies from collecting and selling private data without consent, and giving Americans tools to protect their privacy. 

YODA also empowers both the Federal Trade Commission and State Attorneys General to pursue enforcement action while also creating a private right of action, allowing any individual to bring a civil suit against companies with annual gross revenues of $50 million or more.

The Constitutional rights to private property and privacy don’t disappear the moment you open a browser. These rights guarantee protections from unwarranted searches and seizures, not just from the government, but also from large corporations that build their entire business models on gathering and selling personal data. 

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Congratulating Ganado ISD for 125 Years

Happy 125th Anniversary to Ganado ISD! It was an honor to join the Ganado Community for an anniversary celebration last week and to help ring in this momentous occasion.

Established in the early 1900’s, GISD has upheld a long-standing commitment to excellence. The district has earned eight team state championship titles in athletics, along with numerous individual state championships across athletics and other extracurricular activities. Its award-winning band, known as “The Pride of the Tribe,” has been recognized as a state marching medalist. Additionally, Ganado ISD consistently produces high achievers at the state and regional levels in UIL academic contests, art, cheerleading, One Act Play, and FFA.

This is a community that has shaped generations of students to become holistic leaders and contributors to our region. Thank you to Superintendent Dr. Jonathon Szymanski for your continued great work and to all the students and faculty for the opportunity to present you with an official Congressional Commendation and Record to mark the occasion. 

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Fighting Congressional Abuse

The United States Senate recently acted on a bipartisan basis to change its standing rules to prohibit Senators and staff from using prediction markets which are betting markets on outcomes for upcoming events. It is obvious that members of Congress could use insider information that is incredibly valuable to “predicting” market outcomes. More importantly, Congress also has voting influence to make or prevent events from happening. 

It is time for the House of Representatives to follow suit and prohibit Members from using prediction markets. This is why this week I am leading a bipartisan effort to encourage Speaker Johnson to implement new rules in the 119th Congress that bans Members of Congress and their families from participating in individual stock trading and prediction markets. 

These reforms are about restoring much-needed trust in Congress by prohibiting Members from exploiting their position and changing outcomes of the very processes we oversee.

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Small Business Drought Loans

The U.S. Small Business Administration (SBA) recently announced the availability of low-interest federal disaster loans for small businesses and private nonprofit (PNP) organizations in Texas affected by the ongoing drought in the region.

The program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs — including faith-based organizations — that experienced financial losses directly tied to the disaster.

All 14 counties in TX-27 are eligible to apply. Loan amounts may reach up to $2 million, with interest rates starting as low as 4%. Loan terms will be determined by the SBA based on each applicant’s financial condition.

Applications can be submitted online at SBA Disaster Assistance. Applicants may also contact the SBA Customer Service Center at (800) 659-2955 or by email at disastercustomerservice@sba.gov. The full announcement is available online.

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In the Media

Wade and Carter: Rep. Cloud on American Manufacturing, DHS Funding, and America 250

God Bless,

Michael Cloud
Member of Congress