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A controversial executive order has been issued in New Jersey that allows people with felony convictions to serve on juries.

Governor Phil Murphy signed the order on January 11th, allowing residents to convict before January 10th of this year who have completed their sentences to serve on juries. This means that approximately 350,000 New Jersey residents who were previously permanently disqualified from jury duty for felony convictions will now be able to serve on juries in both civil and criminal trials.

Current New Jersey law prohibits those with a criminal record from serving on a jury. While the state legislature has attempted to amend the law, it has not been implemented.

Ultimately, Governor Murphy has used his authority as governor to issue an executive order, essentially a partial pardon, restoring jury rights to former felons. Governor Murphy stated that the move was intended to ensure that juries more accurately represent the community, citing a disproportionate number of Black and Hispanic residents who are excluded from juries.

Progressive civic groups, including the American Civil Liberties Union (ACLU), also argued that former felons who have completed their sentences are fully qualified to serve as jurors, just like anyone else, and that those who have fulfilled their legal responsibilities should not be excluded from their important civic duty. However, Republicans and others are criticizing the governor for abusing his pardon power by circumventing the legislature.

State Senator Michael Testa, a Republican, stated, “The governor has no legal authority to change the juror qualification standards. Excluding convicted individuals from juries is not punishment; it’s about protecting the fairness and credibility of the judicial system.”

Adam Ebbin (pictured), a Democrat representing Northern Virginia’s 39th Senate District, which includes parts of Alexandria, Arlington, and Fairfax counties, has been appointed senior adviser to the Cannabis Control Authority (CCA) under the incoming Virginia administration.

Ebbin announced his appointment on the 7th, adding that he would only serve half the session before the state legislature reconvenes and would resign on the 18th of next month. Having represented the area for 22 years, beginning in 2003 as a member of the State House of Representatives, Ebbin expressed his gratitude to the residents of the area, saying, “It has been the honor of my life to represent Arlington and Alexandria.”

Having spearheaded the marijuana reform bill, Ebbin will support incoming Governor Abigail Spanberger as a senior adviser to the newly created CCA. With Rep. Ervin’s resignation, a special election will soon be held in the 39th Senate District. As a prominent Democratic stronghold, this district is expected to be a fiercely contested seat within the party.

State Representative Elizabeth Bennett-Parker has already announced her candidacy and is receiving support from Arlington-Area politicians. Former Representative Mark Levine, who lost to Bennett-Parker in the 2021 Democratic primary, is also running for retribution. The special election in the 39th Senate District is expected to be held around mid-February, with the Democratic primary scheduled for next week.

With the expiration of health insurance premium subsidies under the Affordable Care Act (ACA) at the end of last year, Americans are set to see a sharp increase in premiums starting in the new year.

Millions, from low-income to middle-income, will inevitably be affected, and the controversy surrounding this issue is expected to become a major issue in US politics starting in the new year, ahead of the midterm elections in November. This is because the Republican and Democratic parties, rife with conflict, have failed to enact legislation to extend or replace the subsidies, which were originally set to expire on December 31st of last year.

The opposition Democratic Party pushed for a three-year extension of the subsidy payments, but this was blocked by Republican opposition. Republican alternatives, including eliminating the subsidy but expanding tax-advantaged Health Savings Accounts (HSAs) and distributing subsidies directly to low-income individuals rather than insurance companies, also failed to pass Congress due to Democratic opposition. These issues were also a major factor in last year’s federal government shutdown, which lasted 43 days and became the longest in history.

The Hill, a U.S. Congressional news outlet, predicted on the 1st (local time) that a debate would erupt in Congress in the new year, when the subsidy payments expire. This debate is expected to be fierce not only between the Republican and Democratic parties, which are sharply divided over whether to “repeal and replace” the Obamacare subsidy with a new system or “extend” it, but also within each party.

First, the House of Representatives will vote on a bill to extend the subsidy payments for three years, which the opposition party pushed late last year. This was made possible by four centrist Republican House members signing a “discharge petition” against the Democratic bill. This petition requires 218 signatures, a majority of the House, to vote on a specific bill without committee consideration. With these four members turning to the opposition party, a vote can proceed despite opposition from the Republican leadership that controls the House.

The bill is likely to pass in the House, which has 220 Republican seats and 213 Democrats (with two vacant seats). However, The Hill predicted that it would not pass in the Senate (53 Republicans vs. 47 Democrats and Democratic-leaning Independents).

President Donald Trump has also labeled the ACA itself a failed policy, claiming that the law only enriches insurance companies and that subsidies should be provided directly to the public. Ultimately, this will leave countless Americans without access to health insurance, but reaching an agreement in Congress is expected to be a significant hurdle.

Citing health insurance non-profit organizations and experts, The Hill reported that premiums for health insurance plans signed up for through the ACA this year will rise by an average of 26%, and the average annual premium burden for policyholders will increase by 114%, or $1,016, more than doubling from the previous year.

Experts also estimated that between 2.2 million and 7.3 million people will choose not to renew their policies.

There is growing interest in the impact of the collapse of the Nicolás Maduro regime in Venezuela on the global oil market. This is because, immediately following Maduro’s arrest, President Donald Trump declared Venezuela’s oil industry “bankrupt” at a press conference and announced plans to normalize it through large-scale investment. However, the New York Times reported on the 3rd that experts believe it will take significant time and money to realize President Trump’s plan.

With over 300 billion barrels of crude oil reserves, Venezuela is considered the world’s largest oil producer, surpassing Saudi Arabia. However, due to poor oil infrastructure management and US sanctions, Venezuela’s current crude oil production is only around 1 million barrels per day, representing a mere 1% of global production.

President Trump has expressed confidence that US energy companies can increase production if they rebuild Venezuela’s oil infrastructure. He has laid out a blueprint for rebuilding the Venezuelan economy with oil industry profits, stating, “If we rebuild Venezuela’s oil infrastructure, we will be able to sell oil on a much larger scale.”

Indeed, Chevron, a US company, has demonstrated its expertise in Venezuelan oil, having obtained a special sanctions exemption and continued to produce 200,000 barrels per day even after US sanctions were imposed on Venezuelan oil in 2019.If US energy companies gain greater access to Venezuelan crude oil, the oil industry’s recovery is expected to gain momentum. However, experts point out that President Trump’s plan faces significant challenges before becoming a reality.

First, the cost issue must be addressed. Increasing crude oil production by 500,000 barrels per day is estimated to cost $10 billion (approximately 14.5 trillion won) and take approximately two years. As President Trump has mentioned, achieving a larger production increase will require preemptive investments of hundreds of billions of dollars over several years.

Political risk is also a factor that cannot be overlooked. Energy companies operating in Venezuela are likely to be entangled in a chaotic situation depending on how the political situation unfolds following the collapse of the Maduro regime.

Helima Croft of RBC Capital Markets noted, “President Trump may force energy companies operating in Venezuela to take on a ‘quasi-governmental role.'”

Energy companies may be reluctant to engage in the Venezuelan oil industry due to these risks. The collapse of the Maduro regime has not triggered any unusual trends in the international crude oil market. This is due to the current oversupply situation in the oil market, and the small share of Venezuelan crude oil in the market.

Research firm Third Bridge analyzed that the collapse of the Maduro regime “will not have an immediate impact on crude oil prices or the gasoline prices perceived by ordinary citizens.”

California will significantly strengthen penalties for various traffic violations, including speeding and drunk driving, starting in the new year. The California Highway Patrol (CHP) and the Department of Motor Vehicles (DMV) have announced a series of new traffic laws that will take effect on January 1, 2026, urging drivers to be especially careful. These bills, which passed the state legislature in 2024 and were signed by Governor Gavin Newsom, are aimed at enhancing road safety and establishing traffic order.

■ Strengthening Speed Enforcement

First, speed enforcement will be significantly strengthened. CHP will introduce a pilot program using fixed or mobile radar and laser devices to monitor speeds in highway construction zones. Violators will receive notices by mail, and an appeals process will be established. The State Department of Transportation has also authorized to lower speed limits on freeways by 5 miles per hour. Warnings will be issued for the first 30 days. School zone speed limits can also be lowered from 25 miles per hour to 20 miles per hour, and after 2031, these limits will be automatically applied as soon as signs are installed.

■ Strengthening Penalties for Drunk Driving Punishments for drunk driving (DUI) will also be strengthened.

Under AB 366, which passed the state legislature, the DMV has extended through 2033 a program requiring DUI offenders to install an ignition interlock device (IID). This device prevents the vehicle from starting when blood alcohol is detected and is intended to prevent repeat offenses.

AB 1087, which takes effect in the new year, increases the probation period for drunk driving convictions that result in a fatal accident from two years to a minimum of three years and a maximum of five years. This significantly increases the penalties for serious DUI crimes.

■ Crackdown on license plate obscuration begins in earnest.

Crackdowns on devices that obscure or manipulate license plates will also begin in earnest. Under the new law, the manufacture, sale, and use of any device that obscures license plate identification, such as license plate flippers, tinted or shading covers, will be completely prohibited. Violators face fines of up to $250, and manufacturers and sellers face fines of up to $1,000. This measure aims to close loopholes that have been exploited for toll evasion, vehicle theft, and robbery.

■ Expansion of red-light enforcement cameras.

Additionally, red light enforcement cameras will be expanded. SB 720 allows cities and counties to operate alternative automated speed camera programs, which is expected to lead to a rise in the installation of unmanned cameras. The “slow down, move over” law, which requires stopped vehicles to change lanes or slow down when they display hazard lights, cones, or flares, will also be expanded. Electric bicycles operated by unlicensed drivers or minors under 16 at high speeds will now be confiscated.

■ Permitting the towing of abandoned RVs:

AB 630 allows public agencies to tow and dispose of abandoned RVs that are inoperable in Los Angeles and Alameda counties until January 1, 2030. Eligible vehicles are limited to vehicles with an assessed value of $4,000 or less.SB 480 allows autonomous vehicles to be equipped with indicator lights to indicate whether their automated driving system (ADS) is engaged. These indicators serve to alert other drivers, pedestrians, and law enforcement that the vehicle is autonomous.

The CHP and DMV emphasized that this is a “comprehensive safety measure that goes beyond increased enforcement to reduce traffic fatalities,” and that “drivers should be aware of and comply with the new regulations.”

A federal court has dismissed the Trump administration’s legal attempt to block New York’s “Green Light” law, which allows people to obtain driver’s licenses regardless of their immigration status.

On the 23rd, U.S. District Judge Ann Nardacci of the Northern District of New York ruled in favor of the Trump administration, arguing that the law violates the Constitution and seeking a block.

Nardacci found that the Trump administration failed to provide evidence to support its claim that the state law overrides federal law or unfairly regulates or discriminates against the federal government. The New York Green Light Act, enacted in 2019, allows individuals to obtain a New York State driver’s license regardless of their immigration status, but restricts the sharing of applicants’ personal information with immigration authorities.

The Department of Justice filed a constitutional lawsuit against New York Governor Kathy Hochul and Attorney General Letitia James in February, challenging this.

At the time, Attorney General Pam Bondi argued that “Governor Hochul and others are prioritizing undocumented immigrants over U.S. citizens,” and that “state law includes a so-called ‘tip-off’ provision that requires federal immigration authorities to immediately notify undocumented immigrants of any request for information sharing. This is essentially a state agency tipping off undocumented immigrants, directly challenging federal immigration law and the federal authorities that enforce it, and is unconstitutional.” However, the court dismissed the Trump administration’s lawsuit, saying the plaintiffs failed to properly present a basis for the unconstitutionality.

Judge Nardacci acknowledged that the case involved the politically sensitive issue of immigration enforcement but noted that the court’s role was not to assess the validity of the policy, but only to determine whether it violated the Constitution as alleged by the plaintiffs.

The New York State government maintains that the law was enacted to improve road safety, arguing that it was enacted with the intent of reducing accidents caused by unlicensed and uninsured drivers and making roads safer.

Judge Nardacci also ruled that federal authorities should have greater access to New York State driver’s license information to enforce immigration policies, “which can be done through a lawful court order or judicial warrant.”

Kevin Flanagan, head of fixed income strategy at WisdomTree Asset Management and a Wall Street bond strategy expert, predicted that the U.S. economy will maintain a healthy growth rate of around 2% next year, fueled by consumption and investment, without entering a recession. He also predicted that while U.S. inflation will continue to exceed the Federal Reserve’s 2% target, the impact of tariff policies will not cause a sharp increase in inflation.

Flanagan provided this assessment of the U.S. economic outlook and market risk factors in a video interview with Yonhap News on the 19th. WisdomTree, headquartered in New York, specializes in exchange-traded funds (ETFs) with total assets under management of $142 billion (approximately 210 trillion won, as of December 19).

Flanagan, a bond strategy expert who worked at Morgan Stanley for 30 years before joining WisdomTree, said his basic outlook for the U.S. economy in 2026 is “close to maintaining the status quo.” He predicted, “The U.S. economy will grow 2-3% or around 2.5%, and while inflation will not surge, it will remain above the Fed’s 2% target.”

Flanagan’s outlook is not significantly different from the Fed’s growth forecast (2.3%) and inflation forecast (2.4%) for next year, released in its Statement of Economic Outlook (SEP) on the 10th. Regarding the impact of tariff policy on prices, he stated, “If there were going to be significant price increases, we would have already seen them. While there may be more modest price increases going forward, I don’t think a significant inflationary shock is a fundamental outlook.”

He projected the Fed’s benchmark interest rate to remain in the 3.0-3.5% range next year, anticipating two or so additional rate cuts. The yield on the 10-year U.S. Treasury notes, the benchmark for global bond markets, is expected to trade in the 4.0-4.5% range, similar to the current level. Regarding the possibility that concerns about a widening federal budget deficit could trigger a rise in bond yields, the bank stated,

“The main drivers of bond yields are the economy, inflation, and Federal Reserve policy,” and added, “If the U.S. Treasury does not change the size of its Treasury auctions, the impact will be minimal.”

Regarding concerns about a “debasement trade,” where foreign investors are moving out of dollar-denominated assets, the bank stated, “Foreigners are still buying U.S. Treasury bonds,” adding, “The dollar remains a global store of value, and while we’ve seen some movement into gold, we don’t anticipate the dollar being replaced by the euro or other currencies.” Regarding the possibility of a slowdown in U.S. consumption, the bank stated, “Employment is growing, and average wage growth is outpacing inflation. As long as these two factors persist, consumption will remain a key driver of U.S. economic growth.” Regarding the recently highlighted artificial intelligence (AI) bubble controversy, he distinguished between AI technology and AI investment, and predicted that “AI-related investments, centered on data centers, are likely to continue into 2026 and, along with consumption, will support the overall economy.”

Regarding the AI bubble theory, he said, “At this stage, I am not in the camp that believes there is a bubble in AI,” adding, “However, we should not expect the kind of sustained growth we have seen so far,” predicting a moderation in AI investment. Meanwhile, Flanagan diagnosed that if the employment situation bottoms out and rebounds, contrary to general market expectations of continued weakness, it could have a negative impact on the bond market.

“If the employment index improves more than expected, the Fed may reduce the number of additional interest rate cuts or not cut at all,” he analyzed, “This is a risk factor for the bond market.” Conversely, regarding the possibility of a worsening labor market, he assessed, “If the labor market worsens rather than simply cools, and the unemployment rate exceeds 5%, it would pose a risk to the entire economy. Currently, there are no visible factors that could trigger such a situation.”

CNBC reported that Paramount Skydance (hereafter Paramount), an American media and content company, has declared the initiation of a hostile takeover and merger (M&A) of Warner Bros. Discovery (hereafter Warner Bros.) and has begun making stock purchase offers to Warner Bros. shareholders.

According to the report, Paramount will offer to purchase the company’s stock for $30 per share in cash to major Warner Bros. shareholders. Netflix previously announced that it had signed a definitive agreement to acquire Warner Bros. for $72 billion. The acquisition price per share was $27.75. Paramount has been competing with Netflix over the acquisition of Warner Bros.

Citing anonymous sources, CNBC reported that Paramount’s proposed price of $30 per share is the same as the previously rejected offer made to Warner Bros. Paramount previously sent a letter to Warner Bros. warning that a Netflix acquisition would face potential regulatory challenges both in the US and abroad, preventing the merger from ultimately going through.

A recent study found that Virginia’s roads have the second-best condition in the United States, while Maryland ranked only in the upper-middle range. According to a recent report by the online driver education platform Zutobi,

Virginia ranked second in the nation with a road condition score of 7.14 out of 10.Georgia ranked first with a score of 7.42, while Maryland ranked 13th with a score of 5.92.The report evaluated each state’s road condition based on three indicators: the percentage of roads rated as good condition, the rate of change over the past three years, and the number of highway traffic fatalities per 100 million miles driven.

Virginia had 83% of its roads classified as “good condition,” a 5.67% improvement over the past three years, and a stable highway fatality rate of 1.04 per 100 million miles driven.

Maryland had 71% of its roads classified as “good condition,” and its road improvement rate over the past three years was 16.72%.  the Virginia Department of Transportation (VDOT) described this report as “a result of expanded investment in road management and maintenance,” and stated that it will continue to improve transportation infrastructure in the future.

Meanwhile, the top five states in the U.S. for road quality were Georgia, Virginia, Wisconsin/North Dakota (7.14 points), and Alabama (6.94 points). The bottom five states were Oklahoma (1.57 points), California (2.31 points), West Virginia (2.99 points), Mississippi (3.06 points), and Rhode Island (3.13 points).

Citing sources, the Washington Post reported on the 11th that President Trump is preparing an executive order to reclassify marijuana from a Schedule 1 to a Schedule 3 substance under the current drug classification system.

Under the current drug classification system, Schedule 1 substances are drugs with no recognized medical benefit and a high risk of abuse, such as heroin and LSD. Schedule 3 substances are drugs with recognized medical benefit, even if they carry a certain risk of abuse, such as codeine-containing painkillers.

If marijuana is reclassified from Schedule 1 to a Schedule 3 substance, it will become a controlled substance with medical benefits at the federal level for the first time.

Experts say that even if President Trump signs this executive order, marijuana use will not be legalized at the federal level. However, a groundbreaking change is expected for the industry.

While deducting expenses such as R&D costs is virtually impossible for companies handling Schedule 1 narcotics, deducting R&D costs for Schedule 3 substances will allow deductions for not only R&D costs but also marketing and labor costs.

Consequently, legal marijuana companies are expected to see a significant increase in profitability.

Furthermore, the approval process for various marijuana-related clinical trials will be significantly simplified, which is expected to have a positive impact on the marijuana industry.

Currently, more than three-quarters of all 50 states, including New York and New Jersey, have legalized marijuana for medical or recreational use.