SUMMARY:

Five new Republican representatives from North Carolina, including Addison McDowell, Rev. Mark Harris, Pat Harrigan, Brad Knott, and Tim Moore, joined the U.S. House of Representatives for the 119th Congress. They voted for Rep. Mike Johnson (R-La.) as speaker. Incumbent Democrats, including Don Davis, Deborah Ross, Valerie Foushee, and Alma Adams, also returned to Congress. North Carolina Republicans hold a 10-4 advantage in the House, while the state’s Senate delegation is split 2-0 in favor of Republicans, with Senators Thom Tillis and Ted Budd up for re-election in 2026 and 2028.

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SUMMARY:

On January 3, 2025, Republicans took control of the U.S. Senate with John Thune of South Dakota as the new leader. Thune emphasized preserving the legislative filibuster, a 60-vote threshold for major legislation, against calls from some Democrats to eliminate it. Republicans plan an aggressive agenda, including overhauling immigration and extending tax cuts. Ten new senators were sworn in, with several Republicans flipping Democratic-held seats. Democrats Chuck Schumer and new Senators Angela Alsobrooks and Lisa Blunt Rochester made history as the first two Black women to serve together in the Senate.

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SUMMARY: Under Treasurer Dale Folwell, the North Carolina Retirement Systems saw a market value increase to $127 billion, a 43% rise since January 2017. During Folwell’s tenure, over $51 billion was paid out in benefits. He emphasized conservative investment strategies, resulting in $500 million saved in fees. The pension fund, covering over 1 million public workers, is the ninth-largest in the U.S. and among the world’s top 26 public funds. Folwell highlighted strong management and a near 8% return against a 6.5% assumption for 2024, further solidifying North Carolina’s AAA bond ratings from all three major agencies.

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