Republicans face data center backlash as midterms approach

  • Republicans confront voter concerns that data centers are raising household electricity bills.
  • The 10-year Treasury yield topped 5.34 percent, its highest level since April 2002.
  • Trump’s $Trump coin manager announced a Nov. 22 gala for top holders.

Republicans are increasingly concerned that data centers could hurt their prospects in the November midterm elections as voters focus on higher electricity bills linked to the facilities. The issue came into sharper political focus after Senate Democrats blocked legislation backed by Sen. Jon Husted (R-Ohio), who is in a competitive reelection contest against former Sen. Sherrod Brown (D-Ohio). The bill would have required states and some electric utilities to consider a standard making data centers pay additional costs caused by their heavy power demand. Republicans are caught between addressing those concerns and President Trump’s support for data centers. Trump said at a meeting with technology CEOs Tuesday that the facilities "are going to be very popular." Lawmakers may revisit measures to prevent data center energy costs from being passed to consumers, but the legislation likely will not receive another vote until after the November elections. GOP strategist Amy Koch said Trump’s position makes it harder for Republicans to take a nuanced approach. The newsletter also highlights congressional and regulatory scrutiny of artificial intelligence firms, including Rep. Ro Khanna’s requests to OpenAI, Anthropic, Meta and Alphabet over alleged Chinese efforts to obtain model weights; a Federal Trade Commission investigation into consumer risks from OpenAI and Anthropic models; and a subpoena issued to OpenAI by California Attorney General Rob Bonta over cybersecurity incidents. In crypto news, the firm managing President Trump’s $Trump meme coin announced a Nov. 22 gala at Trump National Golf Club in Washington for the coin’s top 185 holders, with Trump scheduled as a speaker. The top 29 qualifying holders can attend a VIP reception, while the top four are promised a TRUMP 18-karat Gold Watch; eligibility depends on ranking above 186th when the window closes Nov. 12. The newsletter also noted that the 10-year U.S. Treasury yield reached 5.34 percent Thursday, its highest level since April 2002, before easing to roughly 5.32 percent by midmorning.

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Republicans face data center backlash as midterms approach - CoinPost Terminal