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Senate Majority Leader John Thune had promised backers of the Protect College Sports Act a vote on bringing the bill to the floor after the August recess.
Senator Maria Cantwell stated that statistics show the majority of college athletic departments currently cannot make ends meet.
A proposed Senate bill on college sports includes exceptions for player transfers if a coach quits or a sport is eliminated.
Members of the Congressional Black Caucus oppose the Protect College Sports Act.
In 2024, the NCAA changed a rule that had restricted how and when college athletes could transfer between schools.
The NCAA previously barred name, image, and likeness compensation but changed its rules under pressure to allow paid endorsement deals for athletes.
NAACP President Derrick Johnson said 'Sharecropping is over' in reference to college sports on a media call organized by the AFL-CIO.
The vote to move forward with the Protect College Sports Act was supported by 49 Republicans, 24 Democrats, and one independent.
The Senate vote to proceed with debate on the Protect College Sports Act was 74 to 24.
Senator Ted Cruz, a chief author of the Protect College Sports Act, said the current state of collegiate sports is 'the Wild West'.
Senator Chris Murphy, an opponent of the legislation, said the Protect College Sports Act protects 'a system of exploitation'.
The vote to move forward with the Protect College Sports Act was opposed by 19 Democrats, one independent, and four Republicans.
Federal Reserve Chairman Kevin M. Warsh attributed rising U.S. borrowing costs to higher economic growth prospects and increased borrowing by tech companies for AI expansion.
Federal Reserve Chairman Kevin M. Warsh declined to answer questions related to President Trump.
Days before the September 2026 Fed meeting, President Trump threatened to cut off trade with other nations if the Federal Reserve did not cut interest rates.
Federal Reserve Chairman Kevin M. Warsh said the rate increase was about making financial and credit conditions more consistent with the Fed's goals of low, stable inflation.
Treasury Secretary Scott Bessent has intervened in the bond market in various ways due to its recent sharp moves.
New Federal Reserve projections showed broad support for at least one more interest rate increase in 2026.
Federal Reserve Chairman Kevin M. Warsh stated in a news conference that the decision to raise interest rates was unanimous.
Federal Reserve Chairman Kevin M. Warsh said that inflation is too high and has been for too long.