Gold Just Hit Another Record. This Junior Could Be Next.

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

How a GOP rift over tech regulation doomed a ban on state AI laws in Trump's tax bill

ALI SWENSON
July 03, 2025

NEW YORK (AP) -- A controversial bid to deter states from regulating artificial intelligence for a decade seemed on its way to passing as the Republican tax cut and spending bill championed by President Donald Trump worked its way through the U.S. Senate.

But as the bill neared a final vote, a relentless campaign against it by a constellation of conservatives -- including Republican governors, lawmakers, think tanks and social groups -- had been eroding support. One, conservative activist Mike Davis, appeared on the show of right-wing podcaster Steve Bannon, urging viewers to call their senators to reject this "AI amnesty" for "trillion-dollar Big Tech monopolists."

He said he also texted with Trump directly, advising the president to stay neutral on the issue despite what Davis characterized as significant pressure from White House AI czar David Sacks, Commerce Secretary Howard Lutnick, Texas Sen. Ted Cruz and others.

Conservatives passionate about getting rid of the provision had spent weeks fighting others in the party who favored the legislative moratorium because they saw it as essential for the country to compete against China in the race for AI dominance. The schism marked the latest and perhaps most noticeable split within the GOP about whether to let states continue to put guardrails on emerging technologies or minimize such interference.

In the end, the advocates for guardrails won, revealing the enormous influence of a segment of the Republican Party that has come to distrust Big Tech. They believe states must remain free to protect their citizens against potential harms of the industry, whether from AI, social media or emerging technologies.

"Tension in the conservative movement is palpable," said Adam Thierer of the R Street Institute, a conservative-leaning think tank. Thierer first proposed the idea of the AI moratorium last year. He noted "the animus surrounding Big Tech" among many Republicans.

"That was the differentiating factor."

Conservative v. conservative in a last-minute fight

The Heritage Foundation, children's safety groups and Republican state lawmakers, governors and attorneys general all weighed in against the AI moratorium. Democrats, tech watchdogs and some tech companies opposed it, too.

Sensing the moment was right on Monday night, Republican Sen. Marsha Blackburn of Tennessee, who opposed the AI provision and had attempted to water it down, teamed up with Democratic Sen. Maria Cantwell of Washington to suggest striking the entire proposal. By morning, the provision was removed in a 99-1 vote.

The whirlwind demise of a provision that initially had the backing of House and Senate leadership and the White House disappointed other conservatives who felt it gave China, a main AI competitor, an advantage.

Ryan Fournier, chairman of Students for Trump and chief marketing officer of the startup Uncensored AI, had supported the moratorium, writing on X that it "stops blue states like California and New York from handing our future to Communist China."

"Republicans are that way ... I get it," he said in an interview, but added there needs to be "one set of rules, not 50" for AI innovation to be successful.

AI advocates fear a patchwork of state rules

Tech companies, tech trade groups, venture capitalists and multiple Trump administration figures had voiced their support for the provision that would have blocked states from passing their own AI regulations for years. They argued that in the absence of federal standards, letting the states take the lead would leave tech innovators mired in a confusing patchwork of rules.

Lutnick, the commerce secretary, posted that the provision "makes sure American companies can develop cutting-edge tech for our military, infrastructure, and critical industries -- without interference from anti-innovation politicians." AI czar Sacks had also publicly supported the measure.

After the Senate passed the bill without the AI provision, the White House responded to an inquiry for Sacks with the president's position, saying Trump "is fully supportive of the Senate-passed version of the One, Big, Beautiful Bill."

Acknowledging defeat of his provision on the Senate floor, Cruz noted how pleased China, liberal politicians and "radical left-wing groups" would be to hear the news.

But Blackburn pointed out that the federal government has failed to pass laws that address major concerns about AI, such as keeping children safe and securing copyright protections.

"But you know who has passed it?" she said. "The states."

Conservatives want to win the AI race, but disagree on how

Conservatives distrusting Big Tech for what they see as social media companies stifling speech during the COVID-19 pandemic and surrounding elections said that tech companies shouldn't get a free pass, especially on something that carries as much risk as AI.

Many who opposed the moratorium also brought up preserving states' rights, though proponents countered that AI issues transcend state borders and Congress has the power to regulate interstate commerce.

Eric Lucero, a Republican state lawmaker in Minnesota, noted that many other industries already navigate different regulations established by both state and local jurisdictions.

"I think everyone in the conservative movement agrees we need to beat China," said Daniel Cochrane from the Heritage Foundation. "I just think we have different prescriptions for doing so."

Many argued that in the absence of federal legislation, states were best positioned to protect citizens from the potential harms of AI technology.

"We have no idea what AI will be capable of in the next 10 years and giving it free rein and tying states hands is potentially dangerous," Rep. Marjorie Taylor Greene wrote on X.

A call for federal rules

Another Republican, Texas state Sen. Angela Paxton, wrote to Cruz and his counterpart, Sen. John Cornyn, urging them to remove the moratorium.

She and other conservatives said some sort of federal standard could help clarify the landscape around AI and resolve some of the party's disagreements.

But with the moratorium dead and Republicans holding only narrow majorities in both chambers of Congress, it's unclear whether they will be able to agree on a set of standards to guide the development of the burgeoning technology.

In an email to The Associated Press, Paxton said she wants to see limited federal AI legislation "that sets some clear guardrails" around national security and interstate commerce, while leaving states free to address issues that affect their residents.

"When it comes to technology as powerful and potentially dangerous as AI, we should be cautious about silencing state-level efforts to protect consumers and children," she said.

___

Associated Press writer Matt Brown in Washington contributed to this report.

Continue Reading...

Popular

Trump keeps saying the GOP mega bill will eliminate taxes on Social Security. It does not

WASHINGTON (AP) — President keeps saying that Republicans' mega legislation will eliminate taxes on federal benefits.

Copper's Spiking - And This Junior Has the Grades to Match - Ad

Copper is climbing again - and this time, it looks tariff-proof. A $31M junior just posted nearly 1B lbs of copper equivalent. With insiders and institutions piling in, this could be the next breakout.

Bernie Sanders Shares First Thing He Would Do As President — And It Could Be A Jab At Elon Musk

Bernie Sanders lost the 2016 and 2020 presidential races. In a recent interview, Sanders shared what he would do first if he were president.

Mystery Seller Behind $105 Million Plot Next to Jeff Bezos Estate Finally Revealed

A plot of land neighboring Jeff Bezos' property in Miami was sold for a staggering $105 million. The undeveloped lot was sold by German investor Mikhail Peleg.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

FDA requires updated warning about rare heart risk with COVID shots

WASHINGTON (AP) — said Wednesday it has expanded existing warnings on the two leading COVID-19 vaccines about a rare heart side effect mainly seen in young men.

Amazon's AI-Powered 4-Day Prime Day Will Drive Billions In Sales

Bank of America analyst maintains Buy rating on Amazon with $248 price forecast, noting 11th Prime Day event to have extended 4-day window with AI savings tools and estimated $21.4B in GMV.

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

Netflix's Squid Game Finale Takes Over Seoul With Massive Parade, Star-Studded Fan Event

Netflix celebrated the finale of Squid Game with a parade and fan event in Seoul, featuring characters and emotional reflections from cast.

Elon Musk-Led Tesla Sales Surge 12% In The UK During June: Q2 Deliveries Beat Analyst Estimates

Tesla UK sales surge 12% in June, with 7,891 units sold as Q2 delivery figures exceed expectations. Rival BYD also sees growth.

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

US brings charges in North Korean remote worker scheme that officials say funds weapons program

WASHINGTON (AP) — The Justice Department announced criminal charges Monday in connection with a scheme by North Korea to fund its weapons program through the salaries of remote information technology workers employed unwittingly by U.S. companies.

BigBear.ai (BBAI) Stock Soars 21%: What's Going On?

Shares of BigBear.ai are trading sharply higher Tuesday afternoon. The rally comes without any new company-specific announcements.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Greenland has a message for the rest of the world: Come visit

NUUK, Greenland (AP) — has a message for the rest of the world: We’re waiting for you.

Judge allows antitrust lawsuit against Apple to proceed

A federal judge on Monday rebuffed Apple's request to throw out a U.S. government lawsuit alleging the technology trendsetter has built a maze of illegal barriers to protect the iPhone from competition and fatten its profit margins.

Buffett's Favorite Chart Just Hit 209% - Here's What That Means For Gold - Ad

Buffett's favorite market signal just hit its highest level in history-stocks are more overvalued than 1929. He's sitting on $325B in cash... and may be about to buy one overlooked gold miner. I've identified it-plus 4 others with up to 100X potential.

Elon Musk Says 'Clear Path' To Restoring Hearing With Neuralink, But The Deaf Community Want To Have Their 'Say'

Elon Musk's Neuralink faces backlash from the deaf community after proposing brain implant technology to restore hearing, with deaf adults calling for inclusion in the research process.

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune - Ad

A high-grade copper-gold discovery in Quebec just delivered extremely high grade intercepts. Valuation? Just $31M. With copper breaking out, the timing here could be perfect. Get the symbol here.

Warren Buffett Skips Big Banks Like JPMorgan and Wells Fargo, Bets $459 Million On This One Asset

Warren Buffett has shifted his investment strategy, investing $459 million in Sirius XM after selling his stakes in Bank of America, JPMorgan Chase, and Wells Fargo.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Bitcoin, Ethereum, XRP, Dogecoin Surge Ahead Of Independence Day

Cryptocurrency markets are surging heading into the holiday weekend, fueled by optimism around altcoin ETF approvals for 2025 and the impending ratification of the ‘Big Beautiful Bill.’

Cuban's AI Prediction, IBM's Rise, Musk's New Hire And More: This Week In AI

Top stories on AI, including Cuban predicting a trillionaire, IBM's success, Musk's xAI hire, and debates on AI's impact on employment.

This Rare Metal Spiked 300%-And One Tiny Firm May Be Riding the Surge - Ad

Antimony prices soared last year, but few investors noticed. One firm, sitting on a historic deposit, is perfectly positioned to benefit as demand grows for defense.

KKR Bets On Sustainable Protein Demand With ProTen Investment In Australia

KKR is acquiring Australian poultry giant ProTen to strengthen its agri-infrastructure portfolio and tap growing demand for sustainable protein.

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

China retaliates against EU with a ban on European medical devices

BANGKOK (AP) — China said Sunday that European medical device companies will be barred from selling to the Chinese government as a countermeasure for the European Union's restrictions on the sale of similar products from China.

Trump says he's not planning to extend a pause on global tariffs beyond July 9

WASHINGTON (AP) — President Donald Trump says he is not planning to extend on most nations beyond July 9, when the negotiating period he set would expire, and his administration will notify countries that the trade penalties will take effect unless there are

Copper's Spiking - And This Junior Has the Grades to Match - Ad

Copper is climbing again - and this time, it looks tariff-proof. A $31M junior just posted nearly 1B lbs of copper equivalent. With insiders and institutions piling in, this could be the next breakout.

What to Stream: Ryan Coogler’s 'Sinners,' a Kesha album, 'SharkFest' and John Cena with Idris Elba

Kesha enjoying her freedom on her first new album since she left her old label and Ryan Coogler’s guts-spilling vampire film “Sinners,” are some of the new television, films, music and games near you.

President Trump announces trade deal with Vietnam that will let US goods into the country duty-free

WASHINGTON (AP) — President Donald Trump announced a trade deal with Vietnam Wednesday that would allow U.S. goods to enter the country duty-free.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Crew abandons Liberian-flagged, Greek-owned ship attacked in the Red Sea, UK military says

DUBAI, United Arab Emirates (AP) — Crew members aboard a Liberian-flagged ship set ablaze by a series of attacks in the Red Sea abandoned the vessel Sunday night as it took on water, marking the first serious assault in the vital corridor for trade after a monthslong campaign by there.

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright priceactionea.net
Privacy Policy | Terms of Service