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Bank of North Dakota assets grew to record $10B in 2021

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Bank of North Dakota assets grew to record B in 2021


Whole property of the Financial institution of North Dakota reached a file final yr.

The nation’s solely state-owned financial institution launched its annual report Monday, highlighting $144.2 million of income and the file $10 billion in complete property, together with loans, securities and money. 

“I believe the large factor (2021) represented is that we simply grew loads,” mentioned financial institution President/CEO Todd Steinwand, who took the wheel final yr after his predecessor Eric Hardmeyer retired.

Steinwand attributed the file property to North Dakota’s $1 billion of federal Rescue Plan coronavirus support together with one other $1 billion in further state tax income and earnings from the Legacy Fund oil tax financial savings.

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The Legislature met final fall in a particular session to determine learn how to spend a lot of the Rescue Plan cash. 

Sixteen years of file financial institution income resulted in 2020 amid the coronavirus pandemic. Final yr’s income have been up about 2% from 2020.

Individuals are additionally studying…

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Revenue-spending gap, oil taxes loom large in North Dakota budget outlook

Steinwand mentioned the financial institution weathered the pandemic higher than anticipated. The financial institution in 2020 added $16.8 million to its mortgage loss reserve resulting from financial uncertainty, however final yr it added $4.75 million. Banks use such reserves to alleviate losses on defaulted loans.

“We already had a major stability in that mortgage loss reserve, and in order that flowed proper to our backside line and allowed us to have the next internet revenue than we did in 2020,” Steinwand mentioned.

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Each two years since 2017, the Legislature has transferred $140 million of financial institution income to the state’s normal fund to assist stability the finances.

Financial institution property proceed to carry carefully to $10 billion. 2022 income are on monitor to succeed in $145 million to $150 million, in line with Steinwand.

He mentioned the general economic system has improved from the pandemic’s throes, noting increased commodity costs and robust federal authorities funds and crop insurance coverage funds within the agriculture economic system.

Companies additionally fared the pandemic higher than anticipated, he mentioned. The financial institution in 2020 launched a number of enterprise reduction packages utilizing federal COVID-19 support and financial institution capital.



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Todd Steinwand

Steinwand




The financial institution’s complete mortgage portfolio final yr held at $4.7 billion. Its agricultural mortgage portfolio fell by $61 million, to $702 million; the enterprise mortgage portfolio grew by $162 million.

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The governor-led, three member Industrial Fee, which oversees the financial institution, praised the establishment’s yr in a joint assertion:

“Financial institution of North Dakota continues to implement visionary ideas to maneuver the state ahead, whether or not working with the personal sector, state companies or native governments. These outcomes, together with the annual (Customary & Poor’s) report scores, exhibit the robust place of the Financial institution.”

S&P gave the financial institution a credit standing of “A+/Steady” in 2021, which Steinwand mentioned “provides an general indication from an outdoor third get together of the power of the financial institution.”

The report additionally highlights the financial institution’s financial affect from almost 15,000 agricultural and industrial loans from 2011-20, utilizing a mannequin to point out the financial institution’s mortgage participations in 2020 helped create or retain greater than 50,000 jobs in North Dakota with a projected affect of $6 billion to the state’s gross home product. 

Steinwand famous that the years of best affect throughout that stretch have been when the financial institution offered catastrophe packages, together with COVID-19, drought and farm stability packages.

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The annual report is offered on-line at bnd.nd.gov.

Attain Jack Dura at 701-250-8225 or jack.dura@bismarcktribune.com.



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North Dakota

From hunting for prehistoric sea monsters to white-water rafting, gorgeous Pembina Gorge has it all

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From hunting for prehistoric sea monsters to white-water rafting, gorgeous Pembina Gorge has it all


WALHALLA, N.D. — When the state’s Senior Paleontologist Clint Boyd leads first-time visitors into the Pembina Gorge for public fossil hunts, their responses often surprise him.

Of course, these weekend paleontologists are thrilled that they might unearth part of a mosasaurus — a prehistoric sea “monster” bigger than a city bus — from the oldest exposed rock in the state.

But whether they’re native North Dakotans or Italian tourists, they also thrill at the beauty of their surroundings: a 2,800-acre stretch of land so filled with hills, soaring river-valley cliffs, pockets of wetlands and the largest continuous, undisturbed forest in North Dakota that it seems custom-built for its own full-color coffee table book.

Some say they never anticipated such lush landscapes in North Dakota, which is sometimes unfairly stereotyped as one endless farm field. But this, they’ll insist, looks more like the north woods of Minnesota or perhaps even Canada.

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Now the Gorge is getting its due.

In May of 2023, Gov. Doug Burgum announced plans to develop the Pembina Gorge State Recreation Area into North Dakota’s 14th state park. Drawing from an ambitious master plan developed in 2014, North Dakota Parks and Recreation has invested $6 million in state dollars and $2 million in federal dollars toward completing the first phase of that plan: a 55-unit campground, with 50 modern campsites, five primitive sites, up to six year-round cabins, underground utilities, roads, a maintenance shop and a comfort station.

The campground is slated to open in 2026.

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Pembina Gorge State Recreation Area

The Three-Sisters Trailhead offers an early preview of the dense foliage, hilly terrain and many scenic views inside the Pembina Gorge State Recreation Area.

Contributed / Poppy Mills

It’s all to provide an “adventure park” experience to the estimated 8,000 to 10,000 visitors who explore the trails through Pembina Gorge annually, said Mike Deurre of North Dakota Parks and Recreation.

The area boasts trails for hiking, mountain-biking, ATV-riding, snowmobiling and horseback riding. The Pembina River offers the only white-water rafting (albeit a fairly tame, Class 1 version) in the state. That’s not to mention sightseeing, leaf-gazing, bird-watching and fossil-digging aplenty.

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Ask Mike Deurre, who manages the Gorge recreation area and nearby Icelandic State Park, if he’s excited about the Gorge’s upcoming upgrade, and he chuckles.

“I’ve kind of described it like the Gorge has been like my fourth child,” he said. “After year 17 here, I feel like my baby got a full-ride scholarship to college.”

He’s not alone.

Pembina Gorge map.jpg

This map shows the Pembina Gorge and the surrounding Rendezvous Region in northeastern North Dakota.

Screenshot / PembinaCountyND.gov

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“We’ve had people showing up at the construction gate with their campers until they realized it was still under construction and wasn’t quite ready to go yet,” he said. “We get questions all the time: ‘When is it ready? What are we looking at?’ It’s been really fun to see that.”

Especially for Deurre, a Mandan, N.D., native who admits “I’d never even heard of anything north of Grand Forks,”  before applying for a job here in 2007.

But once he saw firsthand the beauty, wildlife and landscape, he was amazed he hadn’t heard of the area sooner. The 12,500-acre formation was shaped by massive glacial runoff which carved out the soft shales left by the oceans millions of years ago to create one of the deepest and steepest river valleys in North Dakota.

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The Pembina Gorge can be seen from the Masonic Overlook in Walhalla, N.D.

Contributed / Cassie Theurer for North Dakota Tourism

Back then, Deurre’s top priority was to find a workable solution for ATV enthusiasts and landowners alike amid the Gorge.

“Originally, there were a lot of landowner complaints on ATVs with people driving everywhere. So they hired me, the dumb 26-year-old, to go up there and figure it out,” he joked.

The agency quickly realized they couldn’t stop ATV traffic, as the four-wheeling genie had already roared out of the bottle.

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“You have to give people somewhere to go, because there’s not a lot of trails for ATVs in North Dakota,” he said. “The consensus was we had to build something.”

That would spark the 2014 master plan, which outlined a template for development based on public feedback in a 159-page document.

Today, the recreational area offers nearly 30 miles of trails for everyone from horseback riders to ATV drivers. Deurre described the pathways as tight and twisty, with hairpin turns. “I usually tell people if you’re going over 8 (miles an hour), you’re going too fast. But people have a lot of fun on them,” he said.

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North Dakota Parks and Recreation worked with other agencies and private landowners for years to create multi-use trails throughout the Pembina Gorge.

Contributed / North Dakota Tourism

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That’s not to mention the extensive snowmobile trail network in this area, which totals 455 miles, taps into a statewide trail system and is managed by volunteers from the Northeast Snowmobile Club Association.

Trails may be an ideal way to explore the Gorge, as they can take you into the most scenic areas. Case in point: The Tetrault State Forest Lookout Point, which is so naturally magazine-ready that it frequently graces state tourism publications.

Trail-blazing might also give you a glimpse of wildlife, like elk, white-tail deer, red fox, river otters and even the occasional lone wolf or black bear. The Gorge contains a sweep of forest that serves as a transition zone between three different biogeographical provinces: boreal forest, eastern deciduous forest and central grassland. It’s one reason you’ll find the state’s most extensive woodlands for oak and birch here.

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Mountain bikers can check out a variety of challenging trails both within the Pembina Gorge Terrain Course and the downhill trails at neighboring Frost Fire Park.

Contributed / North Dakota Parks and Recreation

The diverse ecosystem also includes 30 plant species and 21 animal species categorized as “rare” in the state.

It’s getting late for this season, but autumn is historically the Gorge’s time to shine. The trees form a plush carpet of greens, orangey-browns and golds that rolls across the undulating terrain. Look closer, and you’ll spot the fiery reds of sumac and other smaller plants beneath the canopy of bigger trees.

“To get out on the trails during that time, it’s just nice,” Deurre said. “It’s nice, crisp air and it feels so good. You find yourself stopping and staring at things.”

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Some say the best way to see the Gorge is to forego trails completely and canoe or kayak it instead.

Visitors can kayak the Pembina River by contacting the office of the Pembina Gorge State Recreation Area. Through this program, they can opt for a 3.5-mile, two-hour float, which begins at the Vang Bridge near Frost Fire Ski Resort and travels to the Brick Mine Bridge. The bridge is a charming, red structure originally built by the Fargo Bridge & Iron Company for Mayo Brick & Tile Company in 1905. Traveling to and from it will expose you to some of the Gorge’s prettiest views.

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The Brickmine Bridge is an historic truss bridge surrounded by some of the most beautiful scenery in the Pembina Gorge.

Contributed / Cassie Theurer for North Dakota Tourism

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Another kayak option is to travel from the Vang Bridge to the Highway 32 Bridge, which is 10.75 miles and provides four to six hours of scenic sailing.

The Pembina Gorge State Recreation Area offers kayak rentals for $32/half day or $50/full day. Life jackets and paddles are provided with your rental. The recreation area also will transport kayakers for an additional fee.

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A family explores the Pembina River near Brickmine Bridge in the Pembina Gorge.

Contributed / Dan Koeck for North Dakota Tourism

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“It’s a really cool way to see the Gorge on the river,” Deurre said. “You kind of feel like you’re right there in the middle of nowhere.”

Clearly, people dig the Gorge.

Like, literally.

The North Dakota Geological Survey runs public dinosaur digs in four locations across the state — Bismarck, Dickinson, Medora and the Pembina Gorge.

The Gorge alone opens up 100 spots to aspiring archaeologists each summer. Clint Boyd, who oversees all the public digs, says that when registration for its statewide digs is announced to its 2,500-strong email list, they fill quickly — sometimes within minutes. “It’s crazy popular,” he said.

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Since the state’s first public dig in 2000, Boyd said the event has attracted people from 45 states and countries as far-flung as Norway and Italy.
Boyd cites several reasons for the dig’s attraction.

One is that North Dakota’s public dig program is so affordable. The department charges $40 to $60 per person per day to cover supply costs and the salaries of summer interns to help at the site. In comparison, he said, public digs in other states charge up to $300 per day.

People also can opt to dig just a day, or even a half-day, rather than committing to a full week.

Another is the high concentration of specimens found in the Gorge. “Normally when you go look for fossils, you dig out what’s there and then have to explore around to find another,” Boyd said. “This site we’ve been working at Gorge, we collect a skeleton for a mosasaurus and shortly after that, 40 or 50 feet from there, we’ll find another one. “

The Gorge has proven to be an especially rich source of marine life from 75 million years ago, including turtles, fish, plesiosaurs, squid and sharks.

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Pembina Gorge Fossil Dig

The North Dakota Geological Survey’s public fossil digs in the Pembina Gorge typically unearth marine life from millions of years ago, including turtles, giant fish, squid, sharks and mososaurus, a giant, lizard-like sea creature with flippers.

Contributed / Cassie K. Theurer for North Dakota Tourism

It’s a mecca for the mosasaur, a huge, carnivorous aquatic lizard whose bones have been found in the black shale of the Pierre Foundation, which runs throughout the Gorge.

Mosasaurs were essentially the kings of the food chain for their time, with some species growing as large as 60 feet.

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In 2015, Boyd and a team discovered a new species of mosasaur which may have been a precursor to the Mosasaurus, a larger form that grew to nearly 50 feet long and lived alongside the T-rex.

“If you put flippers on a Komodo dragon and made it really big, that’s basically what it would have looked like,” said

Amelia Zietlow

, a doctoral student in comparative biology who co-authored a study on the discovery with Boyd and another researcher for the Bulletin of the American Museum of Natural History.

The researchers also described the prehistoric predator as possessing an extra row of teeth, a shark-like tail and a bony ridge on the skull which gave it the appearance of “angry eyebrows.”

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Boyd named the discovery Jormungandr walhallaensis to honor the nearby community of Walhalla and the ethnicity of the area.

“Given the similarity of spelling between Walhalla and the mythological Norse location Valhalla, we chose to name it after the legendary sea-dwelling World Serpent: Jormungandr,” Boyd wrote in a North Dakota Geological Survey newsletter.

Those itching to unearth their own sea-faring fossils should know there’s no prior experience required to participate in the dig. Kids as young as 10 can attend for a half-day, but must be accompanied by a parent or guardian. Participants must be 15 or older to attend a full-day dig.

Learn more about fossil digs at

https://www.dmr.nd.gov/dmr/paleontology/fossil-digs.

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Information about rentals and other Gorge attractions is available by contacting the Pembina Gorge State Recreation Area at 701-549-2444 or pgsra@nd.gov.





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What channel is Missouri State vs North Dakota State today? Time, TV schedule for Week 12 game

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What channel is Missouri State vs North Dakota State today? Time, TV schedule for Week 12 game


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By the end of Saturday afternoon’s matchup with FCS No. 1 North Dakota State, Missouri State could call itself a champion of the Missouri Valley Football Conference.

The FCS No. 14 Bears (8-2, 6-0 MVFC) have put themselves in this position by winning eight consecutive games for the first time since becoming a Division I program. They’ll have to win somewhere they haven’t since 2009 when they play in the 2:30 p.m. game at the Fargodome in Fargo, North Dakota.

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A win would give the Bears a share of the league for the first time since the 2021 spring season. They could then win the Valley outright with a victory over South Dakota State on Nov. 23 in Springfield.

A win would also give the Bears their:

  • First-ever win against a No. 1-ranked team
  • First win over a Top 10 opponent since 2021 and first under Ryan Beard
  • First-ever 7-0 start to conference play
  • Seven conference wins for the first time in program history

NDSU (9-1, 6-0 MVFC) is as good as it gets in the subdivision with its lone loss coming to FBS Colorado to open the season. The Bison came four yards short of completing a hail mary to win the game which would have handed Deion Sanders a loss to rock the college football world.

The Bison have won nine FCS national championships since 2011. They have a consistent, championship-level program the Bears strive to be, even with Missouri State’s upcoming move to Conference USA in 2025. This game will serve as a good measuring stick for how far the Bears have to go when competing at the Group of 5 level next year.

Missouri State vs North Dakota State time today

  • Date: Saturday, Nov. 16, 2024
  • Time: 2:30 p.m.
  • Location: FargoDome; Fargo, North Dakota

Missouri State vs. North Dakota State will kick off from the FargoDome in Fargo, North Dakota, at 2:30 p.m. on Nov. 16, 2024.

What channel is Missouri State vs North Dakota State game on today?

Dom Izzo and Kyle Emanuel will call the game on ESPN+ live from the Fargodome in Fargo, North Dakota.

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How to listen to Saturday’s game?

Corey Riggs and Sam Block will call the game on KWTO 101.3 FM live from the Fargodome in Fargo, North Dakota.

Catch up on Missouri State football coverage

You can catch up on what you need to know about Missouri State by previewing the game at the following links:

Missouri State vs North Dakota State history

  • Series record: North Dakota State leads 12-2
  • Missouri State’s last win: Nov. 20, 2010 (3-0)
  • North Dakota State’s last win: Oct. 23, 2023 (27-20)

Missouri State football 2024 schedule

  • Aug. 31 – Montana 29, Missouri State 24
  • Sept. 7 – Ball State 42, Missouri State 34
  • Sept. 14 – Missouri State 28, Lindenwood 14
  • Sept. 21 – Missouri State 31, UT Martin 24
  • Sept. 28 – Missouri State 38, Youngstown State 31
  • Oct. 12 – Missouri State 41, Illinois State 7
  • Oct. 19 – Missouri State 46, Indiana State 21
  • Oct. 26 – Missouri State 49, Northern Iowa 42
  • Nov. 2 – Missouri State 38, Southern Illinois 17
  • Nov. 9 – Missouri State 59, Murray State 31
  • Nov. 16 – @ North Dakota State
  • Nov. 23 – South Dakota State
  • Record: 8-2 (6-0 MVFC)

North Dakota State football 2024 schedule

  • Aug. 29 – Colorado 31, North Dakota State 26
  • Sept. 7 – North Dakota State 52, Tennessee State 3
  • Sept. 14 – North Dakota State 38, East Tennessee State 35
  • Sept. 21 – North Dakota State 41, Towson 24
  • Sept. 28 – North Dakota State 42, Illinois State 10
  • Oct. 5 – North Dakota State 41, North Dakota 17
  • Oct. 12 – North Dakota State 24, Southern Illinois 3
  • Oct. 19 – North Dakota State 13, South Dakota State 9
  • Oct. 26 – North Dakota State 59, Murray State 6
  • Nov. 2 – North Dakota State 42, Northern Iowa 19
  • Nov. 16 – vs. Missouri State
  • Nov. 23 – @ South Dakota
  • Record: 9-1 (6-0 MVFC)



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Trump to add North Dakota Governor Burgum as interior secretary

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Trump to add North Dakota Governor Burgum as interior secretary


U.S. President-elect Donald Trump has selected North Dakota Governor Doug Burgum to run the Interior Department, as his new Cabinet continues to take shape.

The transition team officially announced the pick Friday, though Trump first announced the selection late Thursday during a dinner at his Florida estate, Mar-a-Lago.

Additionally, Trump announced Friday that Burgum also will lead a newly created National Energy Council that will be established to help the U.S. achieve “energy dominance” around the globe.

In this role, Burgum will direct a panel that crosses all executive branch agencies involved in energy permitting, production, generation, distribution, regulation and transportation, Trump said in a statement. As chairman of the National Energy Council, Burgum will have a seat on the National Security Council, the president-elect said.

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“This Council will oversee the path to U.S. ENERGY DOMINANCE by cutting red tape, enhancing private sector investments across all sectors of the Economy, and by focusing on INNOVATION over longstanding, but totally unnecessary, regulation,” Trump wrote.

His new policies will help drive down inflation and win an “arms race” with China over artificial intelligence, Trump said.

Burgum, 68, is the two-term governor of North Dakota. A billionaire former software company executive, he was first elected to the governorship in 2016 and was easily reelected in 2020.

Burgum briefly ran against Trump as a candidate for the Republican presidential nomination in 2023 before dropping out and enthusiastically throwing his support behind the eventual president-elect. A staunch conservative, Burgum, in his new position, is expected to be a strong ally of Trump’s efforts to open public lands for oil, gas and mineral exploration.

Communications director

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The Trump-Vance transition team announced Steven Cheung will return to the Trump White House as communications director. He held the same position for the Trump-Vance 2024 presidential campaign and served in the White House during Trump’s first term as director of strategic response.

FILE – Steven Cheung, who served as communications director during Donald Trump’s first term as president, speaks to reporters in New York, May 28, 2024.

Trump has swiftly named an array of political loyalists to key Cabinet positions. They remained vocal supporters during his four years out of office, and most of them are likely to win quick Senate approval after confirmation hearings.

Having won majorities in both the U.S. House of Representatives and the U.S. Senate, Republicans are set to take full control of the U.S. government by the third week in January.

“Republicans in the House and Senate have a mandate,” newly reelected House Speaker Mike Johnson said earlier this week. “The American people want us to implement and deliver that ‘America First’ agenda” espoused by Trump.

Trump will be sworn in as the country’s 47th president on January 20, two weeks after the new Congress has been seated.

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Trump, 78, campaigned on a sweeping agenda that Democrats will be largely powerless to stop unless joined by a handful of Republican defectors in Congress on any specific issue that would undercut the party’s slim majorities in both chambers.

Republicans will have a 53-47 edge in the Senate, and the tie-breaking vote of Vice President-elect JD Vance in the event of a 50-50 stalemate on any legislative proposal. Republicans have secured at least 218 seats in the 435-member House, pending the outcome of seven undecided elections for two-year terms.

During his bid to win a second, nonconsecutive four-year term, Trump called for the massive deportation of millions of undocumented migrants living in the U.S. to their home countries; an extension and expansion of 2017 tax cuts that are set to expire at the end of 2025; further deregulation of businesses; a curb on climate controls; and prosecution of his political opponents, people he calls “the enemy within.”

FILE - Republican U.S. Senator John Thune, who was elected to become the next Senate majority leader, speaks to reporters on Capitol Hill in Washington, Nov. 13, 2024.

FILE – Republican U.S. Senator John Thune, who was elected to become the next Senate majority leader, speaks to reporters on Capitol Hill in Washington, Nov. 13, 2024.

Senator John Thune of South Dakota, newly elected by his fellow Republicans as the Senate majority leader, said, “This Republican team is united. We are on one team. We are excited to reclaim the majority and to get to work with our colleagues in the House to enact President Trump’s agenda.”

Trump also has called on Senate Republican leaders to allow him to make “recess appointments,” which could occur when the chamber is not in session and would erase the need for time-consuming and often contentious confirmation hearings.

Controversial picks

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Despite the likelihood that most of his nominees will be approved, Trump this week named four who immediately drew disparaging assessments from several Democrats and some Republicans for their perceived lack of credentials.

They are former Representative Matt Gaetz as attorney general; former Representative Tulsi Gabbard, a Democrat turned Republican, as director of national intelligence; former junior military officer and Fox News host Pete Hegseth as defense secretary; and former presidential candidate and anti-vaccine activist Robert F. Kennedy Jr. to lead the Department of Health and Human Services.

FILE - Tulsi Gabbard speaks at a Republican campaign rally at Madison Square Garden in New York, Oct. 27, 2024.

FILE – Tulsi Gabbard speaks at a Republican campaign rally at Madison Square Garden in New York, Oct. 27, 2024.

The blowback presages tough confirmation fights for the four in the Senate, which reviews the appointments of top-level officials and then votes to confirm them or, on occasion, reject them, forcing the White House to make another choice.

The appointment of Gaetz, 42, could prove particularly problematic, with some senators openly questioning whether he can win a 51-vote majority to assume the government’s top law enforcement position.

Gaetz announced his resignation from the House late Wednesday, when a House ethics committee probe was in the final stages of investigating whether he’d engaged in sexual misconduct and illicit drug use. His resignation ended the probe.

The Justice Department Gaetz hopes to lead already had decided not to pursue criminal charges. Gaetz has denied all wrongdoing.

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Gabbard, 43, has been attacked for her lack of direct experience in intelligence and accused of disseminating pro-Russian disinformation. If confirmed, she would be tasked with overseeing 18 U.S. intelligence agencies. She won over Trump with her switch from being a Democratic House member from Hawaii to changing parties and staunchly advocating for his election.

Critics have assailed Hegseth, 44, a decorated former military officer, as someone who lacks managerial experience in the military or business world. A weekend anchor on Fox News, he has voiced his opinions on military operations, including his opposition to women serving in combat roles. He has lobbied Trump to pardon military service members accused of war crimes.

FILE - Robert F. Kennedy Jr., speaks before Republican presidential nominee former President Donald Trump at a campaign event in Milwaukee, Nov. 1, 2024.

FILE – Robert F. Kennedy Jr., speaks before Republican presidential nominee former President Donald Trump at a campaign event in Milwaukee, Nov. 1, 2024.

A descendant of the Kennedy family political dynasty, Kennedy, 70, for years has been one of the country’s most prominent proponents of anti-vaccine views. He has also opposed water fluoridation and suggested the coronavirus could have been deliberately designed to affect some ethnic groups more than others.

On Thursday, Trump also selected former Securities and Exchange Commission Chairman Jay Clayton to be Manhattan’s top federal prosecutor; and former Representative Doug Collins to be secretary of the Department of Veterans Affairs.

He named one of his personal criminal defense attorneys, Todd Blanche, to be deputy attorney general, and another of his attorneys, D. John Sauer, to be solicitor general.

Ken Bredemeier and Liam Scott contributed to this report. Some information came from The Associated Press.

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