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Source: United States House of Representatives – Congresswoman Pramila Jayapal (7th District of Washington)

Washington, D.C. – Oregon’s U.S. Senator Jeff Merkley and Massachusetts’ U.S. Senator Elizabeth Warren teamed up with U.S. Representatives Val Hoyle (OR-04), Pat Ryan (NY-18), and Pramila Jayapal (WA-07) to introduce new legislation in response to billionaire health care corporations buying up independently owned clinics across the nation to pad their own pockets and leave patients out in the cold.

The Patients Over Profits Act prevents large insurance companies and their subsidiaries, such as UnitedHealth Group and its subsidiary Optum, from buying up clinics. Out-of-control consolidations in health care have jeopardized patients’ access to care nationwide—with UnitedHealth-owned Optum gobbling up dozens of clinics in Oregon, New York, and Washington.

“Your doctor’s office should be in the business of making sure you get the best possible care, not functioning as a profit center for billionaire health care corporations,” said Senator Merkley. “In Oregon and nationwide, greedy executives are using sick people to turn healthy profits—with one Oregon clinic reportedly losing dozens of physicians and subsequently kicking out thousands of patients after it was purchased by Optum. The Patients Over Profits Act reins in these out-of-control consolidations, which are great for corporate greed and a bad deal for patients.”

“Across the country, insurance companies are buying up doctors’ offices, driving up costs, and putting insurance company profits over patients. Our bill cracks down on greedy insurance companies’ attempts to control doctors and squeeze patients for every cent,” said Senator Warren.

“When you get sick, you should be able to receive the treatment and care that you need. For too long, Wall Street has made that harder by buying up local clinics and care facilities and then focusing on turning a profit instead of delivering care. The Patients Over Profits Act stops multi-billion-dollar companies from buying up every part of the system and tying our health care access to their profit margins and shareholder returns. The message we are sending in response is clear: Americans should be able to expect quality, affordable, and appropriate care when they need it and that should be the focus of our health care system,” said Rep. Hoyle.

“UnitedHealth has gobbled up our local healthcare practices, creating a monopoly that directly hurts everyone in our community. In their greedy pursuit of profits, they now own the insurance company, they own your doctor, they own the pharmacy and they own the software that processes all of your information – and they use it all to keep prices high and drive quality down. Enough – it’s time to break up UnitedHealth and put you back in control of your own healthcare,” said Congressman Ryan. “We need to bring back the local, independent doctors offices and pharmacies whose sole priority is caring for you and your family – not United’s quarterly earnings report. We need to bring down the price of your care, and make sure you’re not billed a dime more than you owe. We need to build a system where patients can quickly access quality care right here in the community, without facing endless roadblocks, and healthcare workers get the fair wages they deserve for their heroic work. Breaking up UnitedHealth’s insurance and physician businesses is the first step toward building something better, where every American is able to get the care they deserve at a price they can afford.”

“UnitedHealth and other major corporate health care giants clearly cannot be trusted to put the needs of patients over profits, as they show time and time again. As they consolidate the market around them, they are also creating a structure that denies people the ability to visit a physician of their choice. This is absolutely unacceptable, and it allows them to jack up already absurdly high health costs, deny necessary treatments if they’re too expensive, and keep wages low for doctors, nurses, and the staff that keep hospitals running. I’m proud to co-lead the Patients Over Profits Act to break up this corporate ownership and ensure that all people can access care when and where they need it,” said Rep. Jayapal.

According to the Center for Health & Democracy’s Sunlight Report on UnitedHealth Group, UnitedHealth employs or contracts with over 90,000 doctors—roughly 10 percent of the U.S. physician workforce—and owns over 750 clinical subsidiaries nationwide. The report underscores how this consolidation has shifted UnitedHealth’s profits and obscured transparency, blurring the lines between insurer and provider and leaving patients to suffer.

The Patients Over Profits Act is supported by the American Economic Liberties Project, Center for Health and Democracy, Health Care for America Now, Just Care, Labor Campaign for Single Payer, MoveOn, Physicians for a National Health Program, Public Citizen, Social Security Works, and Puget Sound Advocates for Retirement Action.

“Large healthcare conglomerates that own insurers and doctors’ practices jack up prices and reduce the quality of care seniors receive,” said Emma Freer, Senior Policy Analyst for Healthcare at the American Economic Liberties Project. “We applaud Senator Merkley and Representative Hoyle for introducing the Patients Over Profit Act to ban this integration and take an important step towards breaking up Big Medicine.”

“Big Insurance is rapidly consolidating and creating monopolistic companies that control virtually every part of our health care system. It is a system now rigged to ensure their profits, not our care,” said Rachel Madley, PhD, Director of Policy and Advocacy at the Center for Health and Democracy. “Our health care system should focus on care, not shareholder wealth. This is vital legislation that will protect patients and rein in Big Insurance.”

“Consolidation of actors in various parts of the healthcare system, including increasing vertical integration by insurers buying up provider groups, threatens to further increase corporate profits at the expense of patients. We need a rational approach to healthcare that would make patients’ wellbeing the focus instead of profit,” said Lisa Gilbert, Co-President of Public Citizen. “The Patients Over Profits Act would end key incentives for such abuses and crack down on the worst actors. These are important steps as we work to reform our broken health care system.”

In addition to Merkley, Warren, Hoyle, Ryan, and Jayapal, the Patients Over Profits Act is cosponsored by U.S. Senator Edward J. Markey (D-MA) and U.S. Representative Alexandria Ocasio-Cortez (NY-14).

Full text of the Patients Over Profits Act can be found by clicking here.

A one-page summary of the Patients Over Profits Act can be found by clicking here.

Issues: Health Care, Science, Technology, & Antitrust

Source: United States House of Representatives – Representative Sean Casten (IL-06)

September 17, 2025

Washington, D.C. — U.S. Congressman Sean Casten (IL-06) led all Democratic members of the Illinois Congressional delegation in a letter to Environmental Protection Agency (EPA) Administrator Lee Zeldin in support of EPA’s Endangerment Finding, which is foundational to EPA regulation of greenhouse gas (GHG) emissions.

“We are writing to express our deep concern over the U.S. Environmental Protection Agency’s (US EPA) proposal to eliminate the Endangerment Finding and what that will mean for the health and safety of our constituents in Illinois,” the lawmakers wrote. “While coastal hurricanes and western wildfires may draw more national attention, climate change is increasing the number and severity of extreme weather events in the Midwest as well. In 2024 alone, Illinois experienced twelve extreme weather events which caused $1 billion or more in damages in Illinois and neighboring states, with a toll of at least 129 lives.”

In its landmark 2007 decision in Massachusetts v. EPA, the Supreme Court ruled that GHGs are air pollutants subject to regulation under the Clean Air Act. The Court further held that the Clean Air Act requires EPA to curb pollutants that it determines endanger public health and welfare by contributing to climate change.

In 2009, EPA conducted a thorough examination of the scientific evidence and found that GHGs endanger the public health and welfare of Americans, basing this finding on the overwhelming scientific consensus reached by decades of peer-reviewed research. The 2009 rule also included the determination that GHG emissions from motor vehicles “contribute” to the dangerous buildup of climate pollution in the atmosphere. The two findings – endangerment and contribution – provided the legal mandate for the EPA to issue GHG emission standards for vehicles in 2010 under the Clean Air Act.

In July 2025, Administrator Zeldin released the agency’s proposal to rescind the 2009 Endangerment Finding, which would end EPA’s ability to regulate GHG emissions.

In addition to Rep. Casten, the letter was signed by U.S. Senators Dick Durbin and Tammy Duckworth and Representatives Nikki Budzinski, Danny Davis, Bill Foster, Jesús “Chuy” García, Jonathan Jackson, Robin Kelly, Raja Krishnamoorthi, Mike Quigley, Delia Ramirez, Jan Schakowsky, Brad Schneider, Eric Sorensen, and Lauren Underwood.

Text of the letter can be found below. A copy of the letter can be found here.

Dear Administrator Zeldin:

We are writing to express our deep concern over the U.S. Environmental Protection Agency’s (US EPA) proposal to eliminate the Endangerment Finding and what that will mean for the health and safety of our constituents in Illinois.

The Endangerment Finding, promulgated in 2009 under the Clean Air Act, requires the US EPA to protect people from the pollution that causes climate change and its impacts. This administration’s denial of the overwhelming scientific consensus, reached through decades of peer-reviewed research, does not change the facts: pollution from fossil fuels is trapping more of the sun’s energy in the atmosphere, heating our planet, increasing the frequency and intensity of extreme weather disasters, and thereby endangering every American – especially the most vulnerable among us.

While coastal hurricanes and western wildfires may draw more national attention, climate change is increasing the number and severity of extreme weather events in the Midwest as well. In 2024 alone, Illinois experienced twelve extreme weather events which caused $1 billion or more in damages in Illinois and neighboring states, with a toll of at least 129 lives.

Climate change is increasing the number and severity of extreme heat events, with the Chicago area far exceeding the average number of 90-degree days this year. Extreme heat is the number-one weather-related killer, a fact we well know after the 1995 heat wave, which caused 500 deaths in Chicago alone and hundreds more across the Midwest. As we learned then, extreme heat disproportionately harms vulnerable individuals, including children, the elderly, low-income households, those with pre-existing medical conditions, outdoor workers, and communities of color.

Climate change is making Illinois wetter, contributing to extreme rainfall and dangerous flooding. This summer, in both July and August, Chicago and other parts of Illinois experienced flash flooding, which damaged infrastructure, including roads and houses.

Changing temperatures and weather patterns impact agriculture, which is so vital to Illinois’ economy. Heat, water stress, and extreme weather events are greatly damaging to crops; changing temperatures can have negative impacts on weed and pest distribution; and changing precipitation patterns and higher temperatures can have negative impacts on soil health.

Finally, climate change has negative impacts on Lake Michigan, among our most precious natural resources. Warmer temperatures, less ice cover, and extreme weather events are damaging the lake ecosystem, making algal blooms more likely, and worsening erosion, beach loss, and shoreline damage.

Rescinding the Endangerment Finding is part of the administration’s politically-driven scheme to undermine clean car and truck programs and roll back standards for global warming pollution from power plants, oil and gas operations, and more. It means giving polluters a free pass to pollute at the expense of families across the country. It means our constituents will face more climate chaos and, especially in communities already overburdened by pollution, greater health risks and higher medical costs. It even means that our constituents will pay more for energy, given the cheaper clean energy alternatives to fossil fuels that are currently available.

We urge you to maintain the Endangerment Finding and, in general, do your job of protecting the health and welfare of Illinoisans and Americans all across the country.

Sincerely,

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Source: United States House of Representatives – Congressman Earl L Buddy Carter (GA-01)

Headline: Carter introduces Georgia House Republican resolution condemning assassination of Charlie Kirk

WASHINGTON, D.C. – Rep. Earl L. “Buddy” Carter (R-GA) this week introduced a resolution condemning the assassination of Charlie Kirk on September 10, 2025, and reaffirming Congress’ commitment to protecting the rights of all Americans to assemble peacefully and express their political views. 

The resolution is cosponsored by Georgia Republicans Reps. Barry Loudermilk, Austin Scott, Rich McCormick, Rick Allen, and Andrew Clyde. 

“Let me be clear: I condemn, in the strongest possible terms, the assassination and murder of American patriot Charlie Kirk. We must come together as a Congress to wholeheartedly denounce this senseless act of political violence. The left has normalized meeting free speech with brutality, and it is a direct threat to our democracy. Charlie Kirk embodied the ideals of free speech and public debate, and we honor him by continuing to be bold in our conservative and Christian beliefs, regardless of threats of retaliation from the other side,” said Rep. Carter. 

Read the full resolution here.

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Source: United States House of Representatives – Congresswoman Dina Titus (1st District of Nevada)

Congresswoman Dina Titus announced today that five of her foreign policy priorities have been included in the State Department Authorization bill recently released by the House Foreign Affairs Committee.

“These measures are important steps in expanding U.S. diplomatic capacity and the advancement of our global leadership role,” Congresswoman Titus said. “They strengthen our alliance with Cyprus; identify vital resources the State Department desperately needs; address the backlog of tourist visas and takes steps to chip away at it; create mechanisms that challenge conventional foreign policy thinking and spur on principled policymaking; and alleviate malnutrition through increased cooperation between the State Department and global non-profit and multilateral organizations.”

“A well-resourced State Department and capable U.S. diplomats around the world are key to ensuring the safety and security of Nevadans,” she said.

The following are Congresswoman Titus’s provisions included in the State Department reauthorization legislation:

Cyprus arms embargo reform

This would extend the waiver renewal period for the arms embargo on the Republic of Cyprus from one year to five years. The annual renewal requirement restricts Cyprus’s ability to plan and procure U.S. defense articles effectively, compromises U.S.-Cypriot military interoperability, and impedes joint research on cybersecurity and maritime security.

This provision allows greater flexibility for Cypriots to do long-term security and military planning and allows Cyprus to more capably work with us to advance security in a turbulent region.

Unfunded priorities list

This would empower the State Department by requiring State to submit an annual unfunded priorities list (UPL) to Congress. This list would report on the unfunded programs, activities, and mission requirements within the U.S. Department of State.

Every year, the military services and intelligence community submit unfunded priorities lists to Congress as part of the annual budget process. The State Department should be able to participate as well.

The text from this provision is identical to Rep. Titus’s Fully Funding our National Security Priorities Act.

Reducing visa wait time

This will allow greater flexibility for the Consular Affairs Bureau at the State Department to use the money collected from passport and visa fees to address the massive backlog in processing tourist visas at various consular posts overseas.

The provision urges the Assistant Secretary for Consular Affairs to take such steps as appropriate for the goal of ensuring that 80% of nonimmigrant visa applicants are interviewed within three weeks of receipt of their visa application. The exorbitant wait times for B1/B2 visitor visas at U.S. consular posts around the world harms Southern Nevada’s tourism economy. By reducing the backlog and processing visas more quickly, more people will be able to visit the hotels, casinos, restaurants, and shops in the Valley.

This provision comes from Rep. Titus’s Visa Improvement, Streamlined Investment, and Tourism Optimization Reform (VISITOR) Act.

Red team capability

This provision codifies a recommendation from the State Department’s After Action Review on Afghanistan. Specifically, this priority directs the Secretary of State to establish a red team capability to challenge underlying policy assumptions, especially those that impact contingency planning.

Authorization of global malnutrition efforts

Authorizes the Under Secretary for Strategic Assistance to provide assistance to monitor and treat malnutrition by Exercising strategic oversight of, and provide direction for, the nutrition response component of humanitarian programming; and Coordinating, overseeing and supporting collaborative activities, programming and initiatives with the interagency, multilateral organizations, and other partners, including Food for Peace, Feed the Future, UNICEF, and the World Food Programme.

Source: United States House of Representatives – Congresswoman Haley Stevens (MI-11)

WASHINGTON, D.C. – Last week, Michigan Congresswoman Haley Stevens introduced three major pieces of legislation that strengthen national security, protect union jobs, and prepare communities for severe weather.

Here’s a look at what she delivered for Michigan families:

On Tuesday, Haley introduced the SHIELD Act (Strategic Homeland Information Education and Learning Defense Act), a bill to protect U.S. servicemembers from foreign disinformation and extremist ideologies. With Michigan home to thousands of servicemembers, the legislation ensures troops are safeguarded against online threats while strengthening national security.

On Wednesday, she introduced the TWISTER Act, which unanimously passed the House Science Space & Technology Committee as an amendment to the Weather Act Reauthorization. The TWISTER Act would modernize tornado research to improve severe weather forecasting and early warning systems. Michiganders know firsthand the damage tornadoes and violent storms can bring, from flooding in Metro Detroit to twisters across the state. This bill gives families and local officials the tools they need to prepare, respond, and recover when disaster strikes.

On Thursday, Haley introduced the Union Auto Workers Job Protection Act, reaffirming her commitment to Michigan’s proud auto workers and automotive future. The bill protects union jobs, strengthens domestic auto manufacturing, and ensures Michigan remains the heartbeat of the American auto industry.

“These three bills speak to the heart of what I fight for every day: protecting our troops from modern threats, defending our workers and their livelihoods, and keeping our communities safe,” said Rep. Stevens. “Michigan families sent me to Washington to deliver, and I’ll never stop fighting for them.”

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Source: United States House of Representatives – Congresswoman Haley Stevens (MI-11)

After months of chaos and recklessness, Stevens stands up to Kennedy and his cuts making Michiganders less healthy

WASHINGTON, D.C. – In response to HHS Secretary RFK Jr.’s continued slashing of critical medical research–from pediatric cancer research to cutting-edge vaccine research, Michigan Congresswoman Haley Stevens released the following statement calling for Kennedy to resign: 

“Enough is enough. RFK Jr. is creating chaos and turning away from science at a time when Michiganders need real leadership and real answers.

“Michiganders are tired of politicians who chase attention and ignore real problems. I’ve seen enough chaos from this administration and from Secretary Kennedy. He’s making Michiganders unhealthy and unsafe. He needs to resign now. It’s time for leaders who fight for science, for health, and for the people, not those who undermine the progress our families and researchers work so hard to achieve.”

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Source: United States House of Representatives – Congresswoman Haley Stevens (MI-11)

Bill strengthens transparency, protects workers’ rights, and ensures fairness in federal vehicle manufacturing contracts

Washington, D.C. — Yesterday, Michigan Congresswoman Haley Stevens introduced the Union Auto Workers Job Protection Act, landmark legislation designed to protect union jobs, strengthen labor standards, and ensure federal vehicle manufacturing contracts deliver on their promise to American workers.

This bill is in response to the Oshkosh Defense Contract in 2021 when the United States Postal Service (USPS) awarded Oshkosh Defense a multibillion-dollar contract to produce the Next Generation Delivery Vehicle (NGDV) fleet. The contract was expected to benefit Oshkosh, Wisconsin’s skilled unionized workforce, who have a long history of building high-quality vehicles for the nation. 

Instead, Oshkosh Defense announced plans to build a new facility over 800 miles away at a non-union facility in South Carolina, cutting out the very workers who were best positioned to fulfill the contract.

“This is a textbook example of corporate bait-and-switch,” said Rep. Stevens. “American taxpayers and the Postal Service expected union-built vehicles, made by experienced workers in the midwest. Instead, the contract is being used to bypass skilled union labor and exploit loopholes in the contracting process. My bill fixes the existing contract and will make sure this never happens again.”

“The Union Auto Workers Job Protection Act matters because it stops corporations from pulling bait-and-switch deals—making promises to workers and communities, then running off to pay poverty wages somewhere else.”

“When Oshkosh Corp won the contract to build the USPS Next Generation Delivery Vehicle, workers and families in Oshkosh, Wisconsin believed the jobs would stay in their union plant, where generations of UAW members have built safe, reliable vehicles. Instead, the company abandoned that promise, moving production to a non-union facility in South Carolina—betraying workers, the community, and taxpayers who expected union jobs and accountability.

“This bill is about putting the brakes on corporate greed and making sure that kind of betrayal doesn’t happen again. It’s about fairness, keeping jobs in our communities, and guaranteeing that workers have a real voice in the decisions that shape their lives.” said Brandon Campbell UAW Region 4 Director.

The bill ensures transparency, accountability, and respect for workers in federal vehicle manufacturing contracts by:

• Shining a light on contracts – Companies must say where vehicles will be built, what workers will be paid, how many are temporary, and whether there are any labor or safety violations.

• Protecting workers’ right to organize – Federal contractors must remain neutral if workers choose to unionize.

• Locking in plant locations – Contracts must clearly state where vehicles will be assembled and what work will happen at each plant.

• Stopping surprise relocations – Companies can’t move production without agency approval, immediate union notification, and full disclosure of pay and labor conditions at the new site.

• Fixing the USPS deal – Makes sure Oshkosh Defense doesn’t receive additional funding for the current Postal Service contract until it adopts a union neutrality agreement. .
   

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Source: United States House of Representatives – Congresswoman Haley Stevens (MI-11)

Press call comes after Rep. Stevens called on Secretary Kennedy to resign

Washington D.C. –  Today, Michigan Congresswoman Haley Stevens held a press conference with Dr. John Prensner, Assistant Professor of Pediatrics at the University of Michigan, to underscore the urgent need to protect and expand pediatric cancer research funding. The event highlighted how recent cuts are disrupting promising research initiatives at universities across Michigan, killing jobs, and threatening progress for children and families facing cancer.

A video of the press call available for public use can be found here.

Rep. Stevens detailed steps she is taking in Congress to safeguard federal research dollars and restore recent reductions, emphasizing the life-saving impact of grants that power discovery, clinical trials, and workforce development. Dr. Prensner outlined how funding shortfalls delay lab work, limit patient enrollment in trials, and risk the loss of talented researchers to other fields or states.

This morning, Congresswoman Stevens called for Secretary Kennedy to resign.

“It’s been inexcusable to see this level of chaos and cuts come down,” said Rep. Haley Stevens. “And families need to know who is willing to stand alongside them and who is willing to blow the whistle, and that is me.”

“In the past nine months since the Trump administration took office, I’ve seen a weakening in our nation’s commitment to childhood cancer that I never thought was possible” – Dr. John Prensner 

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Source: United States House of Representatives – Congresswoman Haley Stevens (MI-11)

WASHINGTON, D.C. – Today, the Bureau of Labor Statistics revealed that the U.S. economy created nearly one million fewer jobs than previously reported for the year ending March 2025.  

In response to one of the largest downward revisions on record, Michigan Congresswoman Haley Stevens issued the following statement: 

“These job losses are a gut punch for Michigan workers and show how much damage Trump’s disastrous tariffs are causing, and how he needs to change course on these reckless tariffs immediately.

“Trump and his administration keep making big promises about economic growth, but the reality is Michigan has fewer jobs, more instability, and costs continue to skyrocket for hard-working families across our state. From our auto plants to our small businesses, Michiganders are already feeling the squeeze. 

“I’m fighting every day to fight back against Trump’s tariffs that are killing Michigan’s economy, destroying auto jobs, and driving costs up. I’ll keep taking on Trump to make sure our state gets the lower costs, jobs, and stability we need. Michigan deserves better.”

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Source: United States House of Representatives – Representative Sean Casten (IL-06)

September 17, 2025

Washington, D.C. — U.S. Congressman Sean Casten (IL-06) and U.S. Senator Jeff Merkley (D-OR) sent a letter to the Securities and Exchange Commission (SEC) demanding it conduct full oversight of Justin Sun’s cryptocurrency company and his multi-million dollar investments into President Donald Trump’s digital assets projects, which raise serious investor protection and national security concerns. Sun is an entrepreneur with ties to the Chinese Communist Party (CCP) who is also the largest publicly known investor in President Trump’s memecoin ($TRUMP) and World Liberty Financial, a decentralized finance project backed by the President and his family members.

Under the Biden Administration, the SEC had sued Sun and his companies for orchestrating an alleged scheme to defraud investors in his “TRX” cryptocurrency. The SEC dropped its case against Sun under the Trump Administration after Sun reportedly invested at least $75 million in World Liberty Financial.

“The WLFI token is the mechanism that Mr. Sun used to funnel tens of millions of dollars to the President and his family,” the lawmakers wrote. “Should Mr. Sun sell his token holdings, the price could collapse, and everyday investors could lose their savings. This token offering should have been registered with the SEC, which would entitle investors to the full protections of the securities laws.”

Furthermore, one of Sun’s cryptocurrency companies, Tron, has been linked to a criminal organization reportedly connected with the CCP. Tron recently went public in the United States through a reverse merger, and these transactions are subject to less regulatory scrutiny, oversight, and transparency. The deal was facilitated by an investment firm that lists both Donald Trump Jr. and Eric Trump on its advisory board.

“Given the litany of issues associated with Mr. Sun’s investments in the President’s cryptocurrency ventures and his plans to take Tron public through the reverse merger process, we request that the SEC ensure that Tron Inc. meets the rigorous standards necessary to be listed on U.S. stock exchange,” the lawmakers continued.

Text of the letter can be found below. A copy of the letter can be found here.

Dear Chair Atkins and Acting Director LaMothe:

We write to express serious concerns about Tron founder Justin Sun and President Trump’s business ties and their potential for conflict of interest and foreign influence, including the Securities and Exchange Commission’s (SEC) decision under the Trump Administration to abandon its fraud lawsuit against Mr. Sun. Furthermore, Mr. Sun’s decision to take his company public, potentially with the assistance of members of the Trump family, raises significant national security and investor protection concerns. We urge the SEC to commit to ensuring full oversight of Mr. Sun and his company’s attempts to access U.S. capital markets, with particular attention to his concerning ties to President Trump and his family.

Mr. Sun is the founder of a Singapore-based company called Tron, which operates a blockchain platform and has its own cryptocurrency known as ‘TRX’. Mr. Sun’s company has long been the object of controversy and investigations. According to a 2023 report by the Treasury Department’s Financial Crimes and Enforcement Network (FinCEN), the Tron platform has been “growing in popularity among illicit actors.” For years, Mr. Sun has allegedly avoided traveling to the U.S. due to legal concerns, in part because the Department of Justice (DOJ) had reportedly been investigating him for suspected financial crimes since 2021. Separately, the SEC in 2023 sued Mr. Sun for orchestrating an alleged scheme to fraudulently inflate the price of his TRX cryptocurrency, which allowed him to generate $31 million in alleged illegal proceeds.

Mr. Sun’s fears seemingly dissipated after President Trump was re-elected in November 2024. Following the election, Mr. Sun made sizable investments in two cryptocurrency projects that directly enriched the President and his family. Mr. Sun is one of the largest publicly-known investors in both the $TRUMP memecoin and in World Liberty Financial (WLF), a decentralized finance project backed by President Trump and his family. Mr. Sun has invested a total of $75 million in WLF. Mr. Sun’s multi-million-dollar investments in the memecoin have yielded little personal return but have generated an estimated $400 million for the President and his family.

After investing heavily in the President’s cryptocurrency dealings, in February 2025, Mr. Sun and Trump’s SEC sent a joint letter asking the federal judge overseeing the SEC’s 2023 case to halt proceedings. The judge summarily granted the motion. In May, Mr. Sun attended an exclusive dinner and private reception with President Trump at his golf course located outside of Washington, D.C. Only the top investors in President Trump’s memecoin were present, raising clear conflicts of interest and the potential for undue influence.

Mr. Sun’s investments in the President’s cryptocurrency ventures have only grown, as Mr. Sun recently reportedly committed to buying another $100 million worth of the President’s memecoin, money directly benefitting the President and his family. President Trump reported that he earned $57 million from WLF last year, representing one of the President’s largest sources of income. Recent estimates indicate that the Trump family generated about $390 million from sales of WLF’s cryptocurrency token.

Importantly, WLF’s cryptocurrency has unique characteristics that may implicate federal securities laws and has the potential to harm everyday investors. The WLFI token is the mechanism that Mr. Sun used to funnel tens of millions of dollars to the President and his family. Initially, WLFI was sold exclusively to wealthy and sophisticated investors under the SEC’s Regulation D offering exemption and was locked from being traded. This meant that Mr. Sun’s investment was likely motivated by a desire for political favor, as there was no apparent economic benefit. However, on September 1, 2025, WLF’s token became transferable and available to inexperienced investors on popular U.S. cryptocurrency exchanges, such as Coinbase and Kraken, adding up to $5 billion to President Trump’s personal net worth. Should Mr. Sun sell his token holdings, the price could collapse, and everyday investors could lose their savings. This token offering should have been registered with the SEC, which would entitle investors to the full protections of the securities laws.

Lastly, Mr. Sun recently took Tron public in a reverse merger with a small Nasdaq-listed company that sells toys and souvenirs to theme parks. This move raises financial and national security risks due to Mr. Sun and his company’s ties to the Chinese Communist Party (CCP). Mr. Sun has bragged to former colleagues about his connections to the Chinese government and has held official positions, including as a member of the Chinese People’s Political Consultative Conference. Additionally, Tron has been linked to a criminal organization that is reportedly connected to the CCP.

The toy manufacturer, known as SRM Entertainment, acquired and rebranded as Tron Inc. in a $210 million deal facilitated by Dominari Securities, an investment bank located in Trump Tower, which lists Donald Trump Jr. and Eric Trump on its advisory board. The SEC has previously identified instances of fraud and other abuses involving reverse merger companies. Reverse merger transactions can enable private companies to bypass the disclosures, scrutiny, and months-long process associated with a formal Initial Public Offering (IPO). Reverse mergers involving foreign companies may also pose increased risks to investors, such as potential accounting and auditing fraud. Chinese companies utilized the reverse merger process to defraud investors of $34 billion between 2007 and 2010. In addition, the SEC has initiated fraud investigations and halted trading for more than 40 Chinese companies that accessed U.S. markets through these transactions.

Given the litany of issues associated with Mr. Sun’s investments in the President’s cryptocurrency ventures and his plans to take Tron public through the reverse merger process, we request that the SEC ensure that Tron Inc. meets the rigorous standards necessary to be listed on U.S. stock exchanges, and respond to the following questions by no later than October 2, 2025.

1. Did any SEC staff communicate with any White House officials or persons affiliated with the Trump family regarding the decision to request a stay in the SEC v. Sun, et al. case?

   1. If so, please list the dates of those communications and the individuals involved.

2. Did any SEC staff communicate with Mr. Sun directly or with his counsel prior to sending the joint letter requesting a stay in the SEC v. Sun, et al. case?

   1. If so, please list the dates of those communications and summarize the content of such communications.

3. Did any SEC staff communicate with any White House officials or persons affiliated with the Trump family prior to the publication of the SEC’s Staff Statement on Meme Coins?

   1. If so, please list the dates of those communications and the individuals involved.

4. How many complaints related to fraud, market manipulation, or other wrongdoing has the SEC received concerning Mr. Sun and how has the Commission dealt with such complaints?

5. Can the SEC commit to:

   1. Ensuring that any settlement agreement in SEC v. Sun, et al. protects the American public by placing Tron on the debarment list; and

   2. Prohibiting Tron from engaging in future fraudulent activities similar to those under investigation.

6. Dominari Securities was the only firm responsible for finding investors and raising money for SRM Entertainment27 to purchase $210 million worth of TRX cryptocurrency tokens.28 Eric Trump reportedly holds an advisory role at investment firm Dominari Securities, and is reportedly expected to assume a role at Tron Inc.29 If applicable, has the firm disclosed Eric Trump and Donald Trump Jr.’s involvement in this transaction?

   1. If so, has Dominari Securities disclosed these potential conflicts of interest in its amended Form ADV Part 1A and Part 2A?

   2. If applicable, what steps has the firm taken to manage these potential conflicts of interest?

7. Did SRM Entertainment report the reverse merger deal in its Form 8-K within the required timeframe of 4 business days after the completion of the transaction?

   1. If not, please outline what action the SEC plans to take to address this violation.

8. Did SRM Entertainment include the appropriate audited financial statements for the acquired private company (Tron) in its Form 8-K?

   1. If not, by what date did SRM Entertainment indicate that the required financial statements would be filed?

9. Typically, in a reverse merger, the acquiring entity will retain the same auditor as the registrant.30 According to a recent filing,31 M&K CPAs, PLLC, a PCAOB-registered accounting firm, performs auditing services for SRM Entertainment. Has Tron Inc. filed the appropriate Form 8-K and notified the SEC or PCAOB whether it will retain the same auditor?

   1. If not, please provide the name of the company that has been hired to perform auditing work.

10. In its 2023 investigation of Mr. Sun, did the SEC consider Mr. Sun’s close affiliation with the Chinese Communist Party (CCP) and his likely status as a Politically Exposed Person (PEP) under the Anti-Money Laundering and Bank Secrecy Act (BSA/AML) framework, as a potential vehicle for fraud or a risk to national security?

11. Has the SEC investigated claims that allege 17 out of the top 20 Tron wallets were created and owned by a criminal organization that is connected to the CCP?

    1. If not, will the SEC commit to initiating such an investigation?

Thank you for your attention to this important matter.

Sincerely,

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