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Biden signs 50 bills into law on Christmas Eve

President Biden signed 50 bills into law on Christmas Eve, as the year and his time in office draw to a close.

The bills Mr. Biden signed include socialite and activist Paris Hilton’s bill to protect teenagers living in residential treatment facilities, a bill setting anti-hazing standards on college campuses, and a bill preventing members of Congress from collecting pensions if convicted of certain crimes.

Hilton is the force behind the Stop Institutional Child Abuse Act, which passed the House and Senate last week. The legislation creates a federal work group on youth residential programs to oversee the health, safety, care, treatment and placement of minors in rehab and other facilities. The new law is personal for Hilton, who has testified before Congress that she faced abuse in such facilities as a teen.

Another measure the president signed, S. 932, prohibits members of Congress convicted of crimes related to public corruption from receiving their retirement payments. Previous law allowed members to continue to receive checks only after the exhaustion of all appeals. The new bipartisan law comes after Sen. Bob Menendez of New Jersey was found guilty this year of using his political influence to benefit businessmen and foreign governments in return for bribes.

The Stop Campus Hazing Act requires higher education institutions to disclose hazing incidents reported to campus or local police authorities in their annual security reports. The new law also requires schools to teach students about the dangers of hazing, among other things.

Yet another new law, S. 4610, makes the bald eagle the official bird of the U.S. The federal government had never designated an official bird.

On Monday, the president granted clemency to 37 of the 40 federal inmates facing death sentences, commuting their sentences to life in prison without the possibility of parole. The move prompted both consternation and praise. Mr. Biden also vetoed a bill on Monday that would have created 66 new federal judgeships, saying the House had rushed it through without resolving important issues about how it would be implemented.

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**Breaking News: Tesla Falls Behind as Musk’s SpaceX Surges Ahead** In a stunning turn of events, Tesla is no longer the crown jewel of Elon Musk’s empire, as SpaceX has officially surpassed the electric vehicle giant in value for the first time in five years. Musk’s fortune, once heavily anchored by Tesla, has shifted dramatically following a series of alarming developments. Musk’s financial landscape took a hit after he funneled over $200 million into Donald Trump’s re-election campaign, but he rebounded quickly, briefly becoming the world’s first $400 billion individual. However, Tesla’s stock has since plummeted by 50%, exacerbated by disappointing delivery numbers and concerns over Musk’s divided attention as he juggles his new role in the Trump administration. Recent reports indicate that Tesla’s revenue growth has stagnated to a mere 1% in 2024, while net income has declined for the second consecutive year. Meanwhile, shocking drops in vehicle sales have been documented across key markets, including Germany, China, and Australia. As public sentiment turns against Musk, protests have erupted at Tesla dealerships nationwide, amplifying the urgency of the situation. The turmoil doesn’t end there. Musk’s appeal of a Delaware court ruling that invalidated a lucrative pay package has further complicated his financial stability. Forbes has slashed the value of Musk’s stock options by 50%, revealing that his stake in Tesla is now worth $97.8 billion, significantly less than the soaring valuation of SpaceX. With SpaceX’s value now estimated at $147 billion—almost $20 billion more than Musk’s Tesla holdings—this shift marks a seismic change in Musk’s financial narrative. SpaceX’s revenue surged by 51% to $13.1 billion in 2024, buoyed by the booming Starlink satellite internet service. As the dust settles, it’s clear that Musk’s fortunes are in flux, and the landscape of his empire is shifting dramatically. Stay tuned as we continue to monitor these developments closely.

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