Connect with us

Politics

Fannie Mae Regulator Puts 35 Workers on Leave

Published

on

Fannie Mae Regulator Puts 35 Workers on Leave

The newly appointed head of one of the nation’s top housing regulators is moving quickly to reshape not only the agency but also Fannie Mae and Freddie Mac, the two government-controlled mortgage finance giants he oversees.

The Federal Housing Finance Agency, now under the direction of William Pulte, placed 35 unionized employees on administrative leave over the past two days, according to an email sent to members on Wednesday evening by the National Treasury Employees Union. The email, which was reviewed by The New York Times, said there had been no advance notice for the employees, who work in consumer protection, equal opportunity and research units.

In a statement, the housing regulator said, “We are streamlining our Agency and its naming conventions, but F.H.F.A. will continue to follow all mandated laws.”

The regulator appears to be among the many federal agencies that are taking steps to comply with the Trump administration’s aim to cut costs by reducing the size of the government work force. The pace and scale of the cutbacks have sparked protests from employees and legislators.

Gray Kimbrough, an F.H.F.A. economist who was not among the affected employees, said in a social media post on Wednesday that those placed on leave had been rushed out of the building and given no time to pack up their personal items.

Advertisement

The National Treasury Employees Union represents about 500 of the more than 600 employees at the housing regulator, which oversees Fannie Mae and Freddie Mac, the mortgage finance firms that have been under the control of the federal government since the 2008 financial crisis.

Fannie and Freddie do not write mortgages but they are critical players in the nation’s $12 trillion mortgage market. The firms buy mortgages from banks and package them into bonds that are sold to institutional investors and insured against a default of the underlying loans. This helps keep the mortgage market running by freeing up capital for banks to write more home loans.

On Monday, Mr. Pulte ousted 14 board members at Fannie Mae and Freddie Mac, and named himself chairman of the boards at both companies, which together employ roughly 15,000 nonunion workers. He sent an email on Wednesday to Freddie employees notifying them that they would be expected to work in the office five days a week beginning May 1. Employees at Fannie received an email on Thursday informing them they would soon be notified about a new return-to-office policy. Copies of both emails were reviewed by The Times.

Mr. Pulte, an heir of the founder of PulteGroup, one of the largest American home builders, began his new job with a promise to work to make home-buying more affordable. Mr. Pulte said he would “ensure that the dream of homeownership becomes a reality for as many Americans as possible,” in a news release announcing his swearing-in as director of the housing regulator.

Advertisement

Politics

Virginia Dems take tax hikes into overtime, target fantasy football leagues

Published

on

Virginia Dems take tax hikes into overtime, target fantasy football leagues

NEWYou can now listen to Fox News articles!

Amid a slew of fresh taxes proposed by the newly emboldened Democratic majority in Virginia, the latest entry seeks to sack people’s fantasy football leagues.

The Fantasy Contests Act, authored by Sen. Adam Ebbin, D-Alexandria, would impose a 10% tax on fantasy sports revenue from games played within the Commonwealth.

Five percent, or 0.5 percentage points of the overall 10% tax, would go to the state’s problem-gambler treatment fund, while the other 95% (9.5 percentage points) would go to the state’s general fund.

VICTORIOUS VIRGINIA DEMOCRATS MORPH FROM PRETEND MODERATES INTO LIBERAL EXTREMISTS OVER NIGHT

Advertisement

Fantasy Football Draft Notes. (iStock)

It also requires fantasy sports contest operators to register with the Virginia Department of Agriculture and obtain a permit before offering any games to people in the Commonwealth.

Fox News Digital reached out to Ebbin for comment on the tax, and how he came up with the idea for it.

While Ebbin did not respond by press time, Fox News Digital also attempted to press the senator on how this latest levy aligns with Virginia Democrats’ campaign mantra of “affordability.”

Fox News Digital also reached out to the state’s two legislative Republican caucuses for additional comment.

Advertisement

The Virginia Lottery would have rulemaking and oversight authority over daily fantasy sports, according to Gambling Insider.

Washington Commanders’ Austin Ekeler #30 trains in Ashburn, Virginia. (Scott Taetsch/Getty Images)

Other states are also considering legislation providing oversight or regulation of fantasy sports, including Illinois, the outlet reported.

There, a bill would grant the state’s gaming board the ability to tax and regulate such play at anywhere from 10 to 15%.

The Washington think tank Americans for Tax Reform came out swinging against the legislation with a full article-length critique of Ebbin’s plan.

Advertisement

“As with every tax and fee imposed on businesses, the cost doesn’t stay with the company; it’s ultimately passed on to consumers,” ATR wrote.

Buffalo Bills quarterback Josh Allen works out prior to an NFL wild-card playoff football game against the Jacksonville Jaguars in Jacksonville, Florida, on Sunday, Jan. 11, 2026. (Chris O’Meara/AP Photo)

“This new tax inevitably translates into smaller prize pools, higher entry fees, fewer promotions and bonuses, and less competition in the market. In other words, Virginia players are the ones who end up footing the bill.”

ATR also criticized the logic behind how the bill was crafted, saying that if fantasy sports truly are skill-based — in that players use their sports knowledge to draft, start, sit and trade players — they should not be taxed “as though they were a vice.”

Virginia Democrats have also proposed a slew of other tax proposals — aside from their plan to redistrict potentially every Republican congressman except Morgan Griffith out of their seat.

Advertisement

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

One such bill creates a net-investment income tax on trusts and estates, raising the Commonwealth’s top marginal rate to just under 10%.

Other proposals create new high-tax brackets, levy Second Amendment related purchases like an 11% tax on ammunition, place a tax on home-delivery services like Amazon, UPS and Uber Eats, and expand the current breadth of the state sales tax to include purchases not previously taxed under Gov. Glenn Youngkin’s tenure or earlier.

Continue Reading

Politics

Congress fears the loss of jobs in Hollywood amid Warner Bros. acquisition

Published

on

Congress fears the loss of jobs in Hollywood amid Warner Bros. acquisition

California lawmakers are expressing concern about how the future of Warner Bros. Discovery could affect Hollywood’s workforce.

In an open letter addressed to Netflix Chief Executives Ted Sarandos and Greg Peters and Paramount Skydance Corporation CEO David Ellison, U.S. Sen. Adam Schiff (D-Calif.) and Rep. Laura Friedman (D-Glendale) call for the industry giants to make “concrete commitments to Californian and American workers.”

Late last year, Netflix won the highly anticipated bidding war for Warner Bros, which would give the streamer control over Warner Bros.’ storied Burbank film and TV studios, HBO and HBO Max. The pending $72-billion deal would greatly reshape the Hollywood landscape. Separately, Paramount has continually thrown in counter-bids and has been consistently rejected.

With all of these moving pieces, there’s a bipartisan fear among the nation’s lawmakers about how the acquisition could affect jobs in the U.S. entertainment industry . As stated in the letter, the industry “supports more than 680,000 jobs and contributes over $115 billion annually to the regional economy.”

Advertisement

Given the slowdown the industry has seen post-COVID and the growing number of international productions, Los Angeles film activity was down 13.2% from July through September 2025 when compared with the same period last year. This downward trend continues to build on the loss of 42,000 jobs in L.A. between 2022 and 2024.

Ellison and Sarandos have made arguments for why they believe their respective companies are best positioned to take over Warner Bros.

But each deal comes with major cuts. Paramount is projected to slash $6 billion in expenses over three years, and Netflix is projecting to cut $2 billion to $3 billion. Some analysts believe these cuts will have a significant effect on the workforce.

Previously, Ellison said, “We believe that what we are offering is better for Hollywood. It’s better for the customers and it’s pro-competitive.”

Sarandos is also quoted in the letter saying: “We think it’s great for consumers. We think it’s a great way to create and protect jobs in the entertainment industry.”

Advertisement

Earlier this week during a Senate subcommittee hearing, Sarandos said Netflix plans to increase its film and television production spending to $26 billion this year, with a majority of that happening in the U.S.

The lawmakers’ letter raises a series of questions surrounding the livelihood of creators, the use of AI and “concrete steps” about preserving jobs in L.A. Schiff and Friedman also offer the CEOs an opportunity to meet with them to discuss their answers.

In an effort to ensure “America continues to lead the world in the creative economy,” the letter said that Congress is currently working on bipartisan legislation that would establish a federal film tax incentive. It will be modeled after state programs in California, Louisiana and Georgia.

“We view this as a tool to not just protect but encourage more domestic filming and sustainable job creation on American soil,” wrote the lawmakers.

Advertisement
Continue Reading

Politics

Video: Trump Ties Tunnel Funds to Renaming of Transit Hubs

Published

on

Video: Trump Ties Tunnel Funds to Renaming of Transit Hubs

new video loaded: Trump Ties Tunnel Funds to Renaming of Transit Hubs

Administration officials told Senator Chuck Schumer that the president would release federal funds for the Hudson River Gateway project if New York’s Penn Station and Washington Dulles International Airport were renamed after President Trump, according to four people familiar with the private conversations.

By Meg Felling

February 6, 2026

Continue Reading
Advertisement

Trending