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A package aimed at giving $17.6 billion to Israel failed to pass the House of Representatives on Tuesday.

It had been facing a veto threat from the White House, which is pushing for Congress to consider Israel aid as part of a larger $118 billion supplemental security package, along with pushback from GOP hard-liners who wanted the price tag offset by spending cuts elsewhere.

Speaker Mike Johnson, R-La., unveiled the legislation over the weekend while blasting the Senate and White House for excluding the House from talks over a supplemental security funding and border policy bill.

The House GOP bill was fast-tracked for a vote on Tuesday under suspension of House rules — meaning it would bypass a procedural hurdle known as a rule vote in exchange for raising the threshold for passage to two-thirds of the chamber rather than a simple majority.

It ultimately failed to reach enough support, despite 250 lawmakers voting for it and 180 against. Forty-six Democrats voted in favor of the bill while 166 voted against. On the Republican side, 14 lawmakers voted down the Israel aid and 204 voted for it.

Rep. Michelle Steel, R-Calif., criticized lawmakers on both sides who did not support the bill after the failed vote.

‘It is disappointing and unacceptable that so many members failed to stand behind Israel as they defend their citizens from terrorists intent to wipe them off the map,’ Steel told Fox News Digital. ‘We must have absolute moral clarity and resolve. … History will remember those who choose to stay silent.’

Leaders of the ultra-conservative House Freedom Caucus came out against the bill on Sunday over its lack of offsets.

One of Johnson’s first acts as speaker was putting a $14.3 billion Israel aid bill on the House floor, but the funding would have been offset by money Biden allocated to the IRS. The move was dismissed as a ‘poison pill’ and a nonstarter by the Democratic-held Senate.

‘Well, it’s unpaid for and our borders are wide open. I’m not going – can’t go to my constituents [and] say here’s $17 billion, even for someone who I love like Israel and a good friend, somebody I fully support, I can’t do that,’ Rep. Chip Roy, R-Texas, told Fox News Digital.

But Rep. Greg Murphy, R-N.C., a conservative who is not part of the Freedom Caucus, argued that offsets such as the ones that hard-liners are demanding would do next to nothing to tackle the national debt, which he said would be solved by ‘[cutting] interest rates, [growing] the economy, and [reforming] mandatory spending.’

‘Many people pleaded, please have a pay-for, or else they’re going to vote against it,’ Murphy said of a Tuesday morning House GOP meeting. ‘And I get it. I understand it, absolutely. But in this particular instance, it’s just dust … we’re not going to make a dent in our debt.’

‘People aren’t looking at the big picture … you have to understand a much greater geopolitical picture to really comprehend it.’

Meanwhile, the White House and Democrat leaders in the House provided enough cover to their rank-and-file to kill the bill.

The Biden administration panned the bill as a ‘cynical political maneuver’ made in response to the Senate’s bipartisan negotiations on security funding and border policy.

House Minority Leader Hakeem Jeffries, D-N.Y., and his fellow Democrat leaders announced Tuesday afternoon that they would vote against the bill: ‘We are prepared to support any serious, bipartisan effort in connection with the special relationship between the United States and Israel, our closest ally in the Middle East. Unfortunately, the standalone legislation introduced by House Republicans over the weekend, at the eleventh hour without notice or consultation, is not being offered in good faith.’

Johnson blasted Democrats for opposing the bill after the vote on Tuesday and accused them of using Israel aid as ‘leverage’ to pass the rest of their supplemental funding request.

‘After nearly four months of waiting for the Senate to act, House Republicans, working in good faith, placed a clean, standalone bill on the floor — a major concession we were willing to make given the gravity of the situation to address Democrats’ stated concerns with the prior aid package,’ the speaker said.

‘Democrats have been unable to present any substantive policy objection in the current legislation. It is clear they are now committed to using Israel aid as leverage to force through other priorities that do not enjoy nearly the same degree of consensus. Leveraging Israel aid as it fights for survival is wrong. The White House and congressional Democrats should be ashamed.’

This post appeared first on FOX NEWS

After topping Wall Street’s earnings and revenue expectations on Tuesday, Eli Lilly & Co (LLY) shot up 5% from the prior day’s close, only to see its gains evaporate mid-day.

A double hit that had some investors stunned, is it time to “overweight” the company whose rock star prospects rest on two of its most popular drugs, Zepbound ™ (for weight loss) and Mounjaro ™ (for type 2 diabetes)?

Eli Lilly’s full 2024 guidance is right around Wall Street consensus, but it also forecasts that demand for a number of its drugs will outpace supply. So, despite its Tuesday gyrations, is LLY—which soared to an all-time high—a stock to buy now?

Eli Lilly Stock: Rising Star, Shooting Star

CHART 1. WEEKLY CHART OF ELI LILLY STOCK PRICE. The big-picture technicals can sometimes serve as an early warning system not apparent in fundamental data.Chart source: StockCharts.com. For educational purposes.

Here’s where fundamentals, which is largely bullish, and technicals, which show hints of skepticism, come to a head. Despite strong earnings and guidance, it’s hard not to notice the following:

A shooting star candlestick pattern, which hints at a bearish reversal; look at that strong price rejection from the high!Last week’s price gap, which, according to Thomas Bulkowski’s Encyclopedia of Chart Patterns, has a 60% chance of getting filled if it’s an exhaustion gap versus an 8% chance of getting filled if it’s a runaway gap (of a larger trend that has yet to materialize).The Relative Strength Index (RSI) and Chaikin Money Flow (CMF) hint at a bearish price divergence, the CMF much more pronounced than the former based on the selling pressure below the zero line.

This is a tough reading because LLY’s fundamental prospects are mostly sunshine, with no shadows in sight, while the technicals are pretty much all shadows.

CHART 2. DAILY CHART OF ELI LILLY STOCK PRICE. There are multiple potential support levels and entry points. Layering several indicators can reveal a confluence of levels/ranges, which gives you a better chance of identifying critical entry levels.Chart source: StockCharts.com. For educational purposes.

The following are a few things to consider:

The stochastic oscillator is well within “overbought” territory, signaling that prices are a bit overvalued at its current level.Price is well above the upper Bollinger Band®; not only does 85% of price action happen within the upper and lower band, but price tends to revert to or near the middle band, even after a strong move (though it can remain above or below the middle band for an extended time).The Ichimoku Cloud has been plotted for reference; the trend is bullish, but its support level is well below a few other critical levels, which may provide buying opportunities.

You can use the Fibonacci Retracement levels as a guide:

The 32.8% retracement sits right below last week’s price gap; it’s likely to get filled, and if you’re looking to scale in a long position, it would be the highest (and earliest) level to go long. You might set a price alert at $680, above this potential entry point.The area between the 50% and 61.8% retracement ($650 and $630, respectively) is where the middle Bollinger band is located. This is probably your most favorable entry point for the bulk of your long position.If price trades below $615, the most recent swing low and a level that’s been (bullishly) rejected three times last month, then the current bullish thesis has to be re-evaluated; not that it’s gone entirely, but the context and timing of the trade would have to be redrawn.

Set a Technical Price Alert

Setting a technical alert at these support and resistance levels would be helpful as you weigh your potential entry points against any market developments that may influence your decision. 

To access the Technical Alert Workbench, follow these steps:

Log in to your StockCharts account.At the top of any page, click on Your Dashboard.Click the Alerts or the New button in the Your Alerts panel.Choose which type of alert you want to create from the Alert Type buttons at the top left. To create a price alert, select Price Alert as the alert type.Add LLY in the symbol box and set your price trigger.Choose how you wish to be notified, then click the Save Alert button.

The Bottom Line

LLY popped up in a StockCharts New All-Time High scan. The stock showcased a volatile turn after beating Wall Street’s forecasts, pitting its strong fundamental outlook against the technical picture suggesting caution. Technical patterns like the (weekly) shooting star candlestick, bearish divergence, and the “overbought” conditions seen on the daily chart all signal an imminent pullback. Despite these bearish hints, strategic entry points identified through Fibonacci retracement levels could offer investors a balanced approach to leveraging Eli Lilly’s fundamental strengths while navigating technical uncertainties.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Walt Disney’s ESPN, Fox and Warner Bros. Discovery plan to launch a joint sports streaming service this fall, giving consumers a new way to access marquee live sports for the first time, the companies said Tuesday.

The platform, which will be owned by a newly formed company with its own leadership team, does not yet have a name or a price. Disney, Fox and Warner Bros. Discovery will each own a one-third stake.

Consumers would be able to subscribe directly via a new app. Subscribers would also have the ability to bundle the product with the companies’ streaming platforms Disney+, Hulu and Max.

The product will be a skinnier bundle of linear networks than a standard cable offering, specifically tailored for sports fans. It will consist of all the broadcast and cable networks owned by Disney, Fox and Warner Bros. Discovery that carry sports, along with ESPN+.

From Disney, that includes ESPN and its sister networks, such as ESPN2, ESPNU, SECN, ACCN, ESPNEWS, as well as the ABC broadcast network. Warner Bros. Discovery’s networks that showcase sports are TNT, TBS and TruTV. Fox will include the Fox broadcast station along with FS1, FS2 and BTN.

“The launch of this new streaming sports service is a significant moment for Disney and ESPN, a major win for sports fans, and an important step forward for the media business,” Disney Chief Executive Officer Bob Iger said in a statement. “This means the full suite of ESPN channels will be available to consumers alongside the sports programming of other industry leaders as part of a differentiated sports-centric service.”

The launch of the product will not stop ESPN from offering a full direct-to-consumer streaming product, which Disney is still researching, according to a person familiar with the matter. ESPN has previously said it plans on releasing that product this year or next year.

The competitors expect to form the joint service at a time when the value of sports media rights is spiking, but viewers have moved away from watching on traditional cable.

Disney, in particular, has suffered from a shift away from its ESPN network, and sought new ways to revive the business, including searching for strategic partners such as the National Football League and the National Basketball League.

This post appeared first on NBC NEWS

Walt Disney’s ESPN, Fox and Warner Bros. Discovery plan to launch a joint sports streaming service this fall, giving consumers a new way to access marquee live sports for the first time, the companies said Tuesday.

The platform, which will be owned by a newly formed company with its own leadership team, does not yet have a name or a price. Disney, Fox and Warner Bros. Discovery will each own a one-third stake.

Consumers would be able to subscribe directly via a new app. Subscribers would also have the ability to bundle the product with the companies’ streaming platforms Disney+, Hulu and Max.

The product will be a skinnier bundle of linear networks than a standard cable offering, specifically tailored for sports fans. It will consist of all the broadcast and cable networks owned by Disney, Fox and Warner Bros. Discovery that carry sports, along with ESPN+.

From Disney, that includes ESPN and its sister networks, such as ESPN2, ESPNU, SECN, ACCN, ESPNEWS, as well as the ABC broadcast network. Warner Bros. Discovery’s networks that showcase sports are TNT, TBS and TruTV. Fox will include the Fox broadcast station along with FS1, FS2 and BTN.

“The launch of this new streaming sports service is a significant moment for Disney and ESPN, a major win for sports fans, and an important step forward for the media business,” Disney Chief Executive Officer Bob Iger said in a statement. “This means the full suite of ESPN channels will be available to consumers alongside the sports programming of other industry leaders as part of a differentiated sports-centric service.”

The launch of the product will not stop ESPN from offering a full direct-to-consumer streaming product, which Disney is still researching, according to a person familiar with the matter. ESPN has previously said it plans on releasing that product this year or next year.

The competitors expect to form the joint service at a time when the value of sports media rights is spiking, but viewers have moved away from watching on traditional cable.

Disney, in particular, has suffered from a shift away from its ESPN network, and sought new ways to revive the business, including searching for strategic partners such as the National Football League and the National Basketball League.

This post appeared first on NBC NEWS

The average rate on the popular 30-year fixed mortgage crossed over 7% on Monday for the first time since December, hitting 7.04%, according to Mortgage News Daily.

It comes after the rate took the sharpest jump in more than a year Friday, after the January employment report came in much higher than expected. Rates then moved up even more Monday after a monthly manufacturing report came in high as well.

Mortgage rates have been on a wild ride since the summer, briefly crossing to a 20-year high of 8% in October. Rates then fell sharply, as investors saw more and more evidence that the Federal Reserve would end its latest phase of interest rate increases.

Mortgage rates do not follow the Fed directly, but they follow loosely the yield on the 10-year Treasury, which is heavily influenced by the central bank’s impression of the economy at any given time.

“The rapid increase in rates over the past two days is actually not too surprising given the fact that the market was widely seen as overly optimistic on the Fed rate cut outlook. The Fed has repeatedly pointed to economic data having the final say in that outlook and data has been shockingly unfriendly to rates as of Friday morning’s jobs report,” said Matthew Graham, chief operating officer at Mortgage News Daily.

As mortgage rates fell over the past two months, buyers seemed to be returning to the market. That coincided with a slight uptick in the number of homes for sale. Total inventory, however, is still historically low and is keeping competition high. It is also keeping home prices stubbornly hot.

High prices and low supply combined to make 2023 the worst for home sales since 1995. Most predict 2024 will be better.

“The strong job market is good news for the spring buying season as higher household incomes are a necessary component, but it also means that mortgage rates are not likely to drop much further at this point,” said Michael Fratantoni, chief economist at the Mortgage Bankers Association.

Mortgage applications to purchase a home had been rising steadily, but fell back in the last few weeks, as mortgage rates edged higher. With the all-important spring housing market closing in, rates are more important than ever, given high and still-rising home prices.

The median price of an existing home sold in December (the most recent data) was $382,600, according to the National Association of Realtors, an increase of 4.4% from December 2022. That was the sixth consecutive month of year-over-year price gains. The median price for the full year was $389,800, a record high.

Given how high prices are, even small rate swings are having an outsized effect on monthly payments, which are the final determination of affordability. Just a half percentage point swing can cost or save a buyer more than $200 a month on the median-priced home. So what next?

“The future of rates in 2024 is all about ifs and thens,” said Graham. “If we see more data like last Friday’s jobs report, rates will have a hard time getting back below 7%. But inflation is even more important than the labor market. If inflation comes in cooler than expected, it could balance the outlook.”

This post appeared first on NBC NEWS

The average rate on the popular 30-year fixed mortgage crossed over 7% on Monday for the first time since December, hitting 7.04%, according to Mortgage News Daily.

It comes after the rate took the sharpest jump in more than a year Friday, after the January employment report came in much higher than expected. Rates then moved up even more Monday after a monthly manufacturing report came in high as well.

Mortgage rates have been on a wild ride since the summer, briefly crossing to a 20-year high of 8% in October. Rates then fell sharply, as investors saw more and more evidence that the Federal Reserve would end its latest phase of interest rate increases.

Mortgage rates do not follow the Fed directly, but they follow loosely the yield on the 10-year Treasury, which is heavily influenced by the central bank’s impression of the economy at any given time.

“The rapid increase in rates over the past two days is actually not too surprising given the fact that the market was widely seen as overly optimistic on the Fed rate cut outlook. The Fed has repeatedly pointed to economic data having the final say in that outlook and data has been shockingly unfriendly to rates as of Friday morning’s jobs report,” said Matthew Graham, chief operating officer at Mortgage News Daily.

As mortgage rates fell over the past two months, buyers seemed to be returning to the market. That coincided with a slight uptick in the number of homes for sale. Total inventory, however, is still historically low and is keeping competition high. It is also keeping home prices stubbornly hot.

High prices and low supply combined to make 2023 the worst for home sales since 1995. Most predict 2024 will be better.

“The strong job market is good news for the spring buying season as higher household incomes are a necessary component, but it also means that mortgage rates are not likely to drop much further at this point,” said Michael Fratantoni, chief economist at the Mortgage Bankers Association.

Mortgage applications to purchase a home had been rising steadily, but fell back in the last few weeks, as mortgage rates edged higher. With the all-important spring housing market closing in, rates are more important than ever, given high and still-rising home prices.

The median price of an existing home sold in December (the most recent data) was $382,600, according to the National Association of Realtors, an increase of 4.4% from December 2022. That was the sixth consecutive month of year-over-year price gains. The median price for the full year was $389,800, a record high.

Given how high prices are, even small rate swings are having an outsized effect on monthly payments, which are the final determination of affordability. Just a half percentage point swing can cost or save a buyer more than $200 a month on the median-priced home. So what next?

“The future of rates in 2024 is all about ifs and thens,” said Graham. “If we see more data like last Friday’s jobs report, rates will have a hard time getting back below 7%. But inflation is even more important than the labor market. If inflation comes in cooler than expected, it could balance the outlook.”

This post appeared first on NBC NEWS

The Federal Aviation Administration announced Monday that it will start taking a closer look at Boeing 737 Max 9 jets.

‘The FAA is increasing its oversight of Boeing’s production lines and suppliers, and limiting certain approvals until we are satisfied that the quality control issues uncovered during this process are resolved,’ the administration said.

This comes in the wake of a near-disaster that saw a door panel on an Alaska Airlines jet carrying 177 people blow out midair on Jan. 5. The airlines CEO, Ben Minicucci, said new, in-house inspections of the carrier’s Boeing 737 Max 9 planes following the incident revealed that “many” of the aircraft were found to have loose bolts.

The FAA temporarily grounded about 171 out of 218 Boeing 737 Max 9 airplanes used by U.S. airlines after the incident and announced an investigation into Boeing.

Since then, Alaska Airlines and United Airlines both confirmed plans to return their fleet of Boeing 737 Max 9 planes to service.

The FAA has already inspected existing Alaska and United Airlines jets and returned 93.75% — or 135 out of 144 of them — to service, according to FAA Deputy Associate Administrator for Aviation Safety Jodi Baker.

However, the administration is only three weeks into its increased oversight of the aircraft and ‘it’s too early to draw any conclusions,’ Baker said at the news briefing. The FAA ‘will address concerns as they come up,’ she added.

“This is not new work, understanding how aircraft are manufactured, and we have the expertise to do that,” Baker said.

The door plug from Alaska Airlines Flight 1282 is recovered in Portland, Ore., on Jan. 8. National Transportation Safety Board via AP

The FAA is focusing on hiring more employees to help with the oversight at the Boeing Renton Factory and streamline the data collection process.

Baker said the administration wants ‘to step up more interaction and more direct observation of work that’s being accomplished’ at Boeing.

The administration expects the oversight process to take six weeks.

This post appeared first on NBC NEWS

The Federal Aviation Administration announced Monday that it will start taking a closer look at Boeing 737 Max 9 jets.

‘The FAA is increasing its oversight of Boeing’s production lines and suppliers, and limiting certain approvals until we are satisfied that the quality control issues uncovered during this process are resolved,’ the administration said.

This comes in the wake of a near-disaster that saw a door panel on an Alaska Airlines jet carrying 177 people blow out midair on Jan. 5. The airlines CEO, Ben Minicucci, said new, in-house inspections of the carrier’s Boeing 737 Max 9 planes following the incident revealed that “many” of the aircraft were found to have loose bolts.

The FAA temporarily grounded about 171 out of 218 Boeing 737 Max 9 airplanes used by U.S. airlines after the incident and announced an investigation into Boeing.

Since then, Alaska Airlines and United Airlines both confirmed plans to return their fleet of Boeing 737 Max 9 planes to service.

The FAA has already inspected existing Alaska and United Airlines jets and returned 93.75% — or 135 out of 144 of them — to service, according to FAA Deputy Associate Administrator for Aviation Safety Jodi Baker.

However, the administration is only three weeks into its increased oversight of the aircraft and ‘it’s too early to draw any conclusions,’ Baker said at the news briefing. The FAA ‘will address concerns as they come up,’ she added.

“This is not new work, understanding how aircraft are manufactured, and we have the expertise to do that,” Baker said.

The door plug from Alaska Airlines Flight 1282 is recovered in Portland, Ore., on Jan. 8. National Transportation Safety Board via AP

The FAA is focusing on hiring more employees to help with the oversight at the Boeing Renton Factory and streamline the data collection process.

Baker said the administration wants ‘to step up more interaction and more direct observation of work that’s being accomplished’ at Boeing.

The administration expects the oversight process to take six weeks.

This post appeared first on NBC NEWS

White House Press Secretary Karine Jeane-Pierre on Tuesday dodged a question on President Biden’s mental and physical health after the president appeared to confuse French President Emmanuel Macron with French President François Mitterrand, who has been dead for nearly 30 years. 

The gaffe came during a campaign stop in Las Vegas on Sunday. The president was recalling a meeting he had with Macron at the G7 summit in England, shortly after he assumed the White House in 2021. 

But instead of Macron, Biden dropped the name of ‘Mitterrand,’ who was the President of France between 1981 and 1995 and died in 1996. 

Fox News’ Peter Doocy on Tuesday questioned how the president could convince large swathes of voters who are worried about his physical and mental health after making those comments. 

Jean-Pierre, looking visibly annoyed, told Doocy: ‘I’m not even going to go down that rabbit hole with you, sir. We’re going to go ahead.’ 

‘What is the rabbit hole?’ Doocy asked.

‘You saw the president in Vegas, in California. You’ve seen the president in South Carolina. You saw him in Michigan. I’ll just leave it there,’ Jean-Piere said. 

Later in the press conference, a reporter asked Jean-Piere to respond to criticisms that Biden has given far fewer interviews during his presidency than his predecessors. The reporter noted that no press conference was scheduled during Biden’s hosting of German Chancellor Olaf Scholz, nor was the president scheduled to give an interview during the Super Bowl. 

‘It just seems, again, like we’re in one of these instances where the president is not communicating with the press,’ the reporter said. 

‘Stay tuned. That is the answer for you,’ Jean-Pierre said, challenging the notion that the president was not engaging with the press. 

The reporter pushed back, noting that President Biden has given less than half the number of interviews his predecessors have given at this point in the presidency. 

Jean-Pierre said the president communicates in ‘nontraditional ways.’ As to why the president is not doing a Super Bowl interview – missing out on a ‘massive audience in an election year’ – Jean-Pierre said people ‘want to see the game.’ 

‘The president will find many other ways to communicate with Americans, the millions of Americans out there,’ Jean-Pierre said. ‘And we will find those ways to do it, where we think the time is right.’  

Presidents have given pre-taped interviews with the networks broadcasting the NFL championship game for years now. This year the game is being broadcast by CBS. The practice became consistent starting during President Obama’s first term, though former President Trump skipped an NBC interview in 2018. 

2024 will be the second Super Bowl interview in a row that Biden has declined. 

This post appeared first on FOX NEWS

The House Judiciary Committee is suing FBI agent Elvis Chan for defying a congressional subpoena for his deposition related to the federal government’s alleged collusion with social media companies to censor speech, Fox News Digital has learned.

Chan, according to the committee, led by Chairman Jim Jordan, R-Ohio, served ‘as the primary liaison’ between the FBI’s Foreign Influence Task Force and social media companies.

The committee first subpoenaed Chan in September 2023, after he refused to voluntarily appear for a transcribed interview in March 2023.

The deposition, or interview, was requested and later compelled as part of the committee’s investigation into ‘the extent and nature’ of the FBI’s involvement in alleged censorship of speech online.

The House Judiciary Committee on Tuesday filed a 46-page lawsuit against Chan ‘in his official capacity as Assistant Special Agent’ at the FBI.

‘After public reporting revealed that the Executive Branch was coercing and colluding with technology companies and other intermediaries to censor online speech, the Judiciary Committee launched an investigation into how and to what extent agencies like the Federal Bureau of Investigation (FBI) were working to interfere with the marketplace of ideas and suppress the voices of the American people,’ the lawsuit states. ‘The ultimate purpose of this investigation is to develop legislative reforms, such as new statutory limits on the Executive Branch’s ability to work with social media companies and other entities to restrict the circulation of content online and deplatform users. And to do so, the Committee must first fully understand the nature of the problem.’

The lawsuit states that the committee ‘quickly identified Chan as a pivotal figure in its investigation,’ citing publicly available information that indicated Chan ‘was at the heart of the FBI’s interactions with technology companies, including Facebook and Twitter.’

‘Indeed, Chan described himself as ‘one of the primary people with pass-through information,’ information the companies used when deciding whether to restrict online content,’ the lawsuit states.

The lawsuit goes on to explain that Chan defied his subpoena, after the Justice Department ‘instructed him not to appear’ – a directive he complied with.

‘By refusing to comply with the Subpoena, Chan is frustrating the Committee’s ability to conduct oversight – a critical part of the legislative power that the Constitution vests in Congress,’ the lawsuit states.

The lawsuit explains that DOJ’s reasoning for instructing Chan not to appear was ‘only because, under House Rules, agency counsel (a lawyer who represents the Executive Branch’s interests, not Chan’s) cannot attend.’

‘DOJ contends that a subpoena compelling testimony about an agency employee’s official duties, without agency counsel present, is unconstitutional and thus unenforceable,’ the lawsuit states.

The committee is asking that the court declare that Chan’s refusal to appear ‘lacks legal justification,’ and hopes it issues an injunction ordering him to appear and testify ‘immediately.’

The Justice Department and the FBI declined to comment.

Fox News Digital obtained a letter the DOJ sent to Jordan in October, in which Assistant Attorney General Carlos Uriarte states that the ‘underlying principles that inform the Department’s position are longstanding across administrations.’

Uriarte argued that ‘every other Department employee who has appeared before the Committee during this Congress has appeared with agency counsel.’ He also argued that there was ‘no need’ for the committee to issue a subpoena, saying Chan ‘is willing and ready to provide the requested testimony voluntarily—provided, of course, that he may be accompanied by both personal and agency counsel.’

‘A congressional subpoena that purports to compel testimony on matters within the scope of an agency employee’s official duties, including potentially privileged information, without the presence of agency counsel is without legal effect and cannot constitutionally be enforced,’ he wrote, citing a 2019 legal memo from the DOJ’s Office of Legal Counsel.

Meanwhile, when asked Tuesday if the committee would move to hold Chan in contempt of Congress, a source familiar told Fox News Digital: ‘Everything is on the table.’

Chan was also referenced in Missouri v. Biden, and appeared for a civil deposition.

The House Judiciary Committee’s investigation is ongoing. 

Last month, the committee subpoenaed Director of National Intelligence Avril Haines for documents as part of its investigation into the Biden administration’s alleged collusion with Big Tech companies and its intermediaries to ‘censor speech.’

Jordan said that through its investigation, the committee found that the federal government ‘has pressured and colluded with Big Tech and other intermediaries to censor certain viewpoints on social media in ways that undermine First Amendment principles.’

Jordan, last February, as part of the investigation, subpoenaed the CEOs of Google, Amazon, Facebook and others for documents relating to the government’s alleged ‘collusion’ with Big Tech companies to ‘suppress free speech.’

Also last year, Jordan subpoenaed the Justice Department and the FBI for documents related to the probe.

The investigation comes after Republicans have sounded the alarm for years on Big Tech censorship and bias against conservatives.

Separately, the Supreme Court agreed in October to review a court-ordered ban on certain communications between the Biden administration and Big Tech platforms after state attorneys general from Missouri and Louisiana accused high-ranking government officials of working with social media companies ‘under the guise of combating misinformation.’ They argued this ultimately led to censoring speech on topics that included Hunter Biden’s laptop, COVID-19 origins and the efficacy of face masks

Fox News’ Brianna Herlihy contributed to this report. 

This post appeared first on FOX NEWS