A proposed piece of legislation aims to significantly bolster financial support for victims of the September 11, 2001 attacks by tapping into a special fund. This initiative, championed by U.S. Congressman Dan Goldman and supported by a bipartisan group, seeks to provide billions in additional compensation through annual payments from the Victims of State Sponsored Terrorism Fund (VSSTF). Furthermore, it intends to replenish this fund with substantial fines collected from cryptocurrency exchange Binance as part of a legal settlement in 2023. The bill also includes measures to enhance oversight and staffing of the VSSTF.
The proposal outlines a plan to allocate $4 billion from Binance penalties to the VSSTF, ensuring continued funding without relying on taxpayer money. Payments issued in 2024 totaled over $1 billion, half of which benefited 9/11 victims, while the remainder assisted other victims of state-sponsored terrorism globally. Awards under this program are tax-free and do not interfere with separate compensations from the September 11 Victims Compensation Fund, though caps exist at $20 million per individual and $35 million per family.
Enhancing Financial Support Through New Measures
This section explores how the proposed law introduces innovative strategies to improve financial aid for those impacted by the tragic events of September 11. By mandating yearly disbursements from the VSSTF and incorporating funds derived from Binance's legal penalties, the legislation ensures a sustainable source of compensation. Additionally, it emphasizes expanding personnel within the fund to manage increased responsibilities effectively.
Innovative approaches outlined in the legislation aim to address longstanding grievances among 9/11 victims and their families. By legally binding annual payouts from the VSSTF, the measure guarantees consistent financial assistance. Moreover, the integration of $4 billion in fines from Binance represents a groundbreaking method of financing compensation efforts, entirely independent of public funds. This approach underscores the commitment to fulfilling governmental promises made to affected families. Expanding the operational capacity of the VSSTF is crucial to managing these new obligations efficiently, thereby ensuring timely and accurate distribution of resources to eligible recipients.
Expanding Oversight and Ensuring Fair Distribution
This segment highlights the importance of strengthening oversight mechanisms and establishing clear guidelines for distributing funds fairly among beneficiaries. The proposed law focuses on enhancing transparency and accountability within the VSSTF while setting caps on individual and familial awards to maintain fairness.
Strengthening congressional oversight of the VSSTF operations forms a critical component of the proposed legislation. By implementing robust monitoring systems, the bill aims to prevent potential misuse of funds and ensure equitable treatment of all claimants. Additionally, setting maximum limits on compensation—$20 million per individual and $35 million per family—serves to balance the needs of numerous beneficiaries while safeguarding against excessive payouts. These measures align with broader goals of promoting justice and providing meaningful support to victims of both domestic and international acts of terror. Furthermore, maintaining distinctions between awards from different sources allows recipients to benefit fully from multiple avenues of financial relief without compromising the integrity of any single program.
A contentious primary race in Brooklyn has taken a new turn as Indivisible Brooklyn, endorsing Democratic candidate Shahana Hanif, demands rival Maya Kornberg return donations linked to Republican figures. Highlighting ties between Kornberg and billionaire Leonard Blavatnik, who has contributed to both political parties but predominantly to Republicans, the group questions her alignment with progressive values. The situation intensifies scrutiny over campaign funding ethics, especially concerning contributions from out-of-district mega-donors whose political stances contradict anti-Trump rhetoric. This controversy adds layers of complexity to an already heated election battleground.
At the heart of this issue lies a letter authored by Indivisible Brooklyn questioning the integrity of Maya Kornberg's financial backers. Kornberg, a senior research fellow at NYU’s Brennan Center for Justice, previously claimed no connection with Blavatnik despite evidence suggesting otherwise. Records reveal Blavatnik's deep involvement with Kornberg’s family through their shared ownership of Interna Therapeutics, initiated with a significant $20 million investment. Furthermore, both Blavatnik and his wife reached the maximum allowable contribution to Kornberg’s campaign under New York City's matching funds program.
Beyond Blavatnik, the letter also highlights contributions from other prominent figures like billionaire Daniel Loeb, known for supporting moderate Democrats alongside Republicans. Critics argue these donors undermine Kornberg's commitment to opposing Trump-era policies, pointing instead towards actions aligning more closely with conservative agendas. Such allegations cast doubt on whether Kornberg truly represents the progressive ideals championed within Brooklyn's 39th district.
Kornberg’s camp counters these accusations by accusing Indivisible Brooklyn of selective targeting, emphasizing that similar donors have supported leading Democratic figures such as Nancy Pelosi and Joe Biden. Campaign manager Sam Boorstyn frames the criticism as an attempt to distract from what he perceives as voter dissatisfaction with current leadership. He reiterates Kornberg's strong Democratic credentials and extensive history advocating progressive causes, including resistance against Trump throughout the past decade.
This episode underscores broader debates surrounding transparency in campaign finance and the influence wielded by wealthy donors across party lines. As voters prepare to head to the polls, they face critical decisions balancing candidates' professed principles against potential conflicts arising from their funding sources. Ultimately, the outcome may serve as a barometer for how seriously constituents weigh ethical considerations when evaluating electoral choices.
A new initiative at the University of Massachusetts aims to protect vital research activities in the face of potential disruptions to federal funding. This proactive measure, introduced by Chancellor Javier Reyes, seeks to mitigate the risks associated with a possible loss of up to $150 million annually from federal grants and contracts.
In response to growing concerns about the reliability of federal support for academic research, UMass has established the Research Continuity Emergency Matching Fund (ResCoE). This fund will temporarily redirect resources originally earmarked for strategic investments and deferred maintenance on campus. According to Fouad Abd-El-Khalick, provost and senior vice chancellor for academic affairs, and Mike Malone, vice chancellor for research and engagement, the primary goal is to ensure uninterrupted progress in groundbreaking studies that contribute significantly to national prosperity, health, and security. Recent actions by the Trump administration, such as halting certain NIH grants and imposing caps on indirect costs, have heightened these uncertainties.
Beyond safeguarding research continuity, ResCoE underscores UMass's commitment to supporting its academic community, particularly those whose livelihoods depend directly on federal funding. Graduate students, postdoctoral fellows, research staff, and faculty members are among the beneficiaries of this initiative. Collaborative efforts with the university system’s Boston office and Attorney General Andrea Campbell have already resulted in a temporary restraining order restoring a terminated grant, benefiting an educational program addressing teacher shortages in local districts. Emily Gest, a UMass spokesperson, emphasized the institution's ongoing vigilance regarding national developments and its dedication to student success and faculty innovation despite current challenges.
This innovative approach exemplifies the importance of adaptability and resilience in higher education. By creating mechanisms like ResCoE, institutions can better navigate external uncertainties while fostering environments conducive to discovery and advancement. Such measures not only protect existing research but also inspire confidence in the academic community, reinforcing the critical role universities play in driving societal progress. Through collective efforts across campuses and nationwide, there is hope for sustained relief and greater stability in the realm of academic funding.