IVN is joined by Nate Allen, founder and Executive Director of Utah Approves, to discuss Approval Voting and his perspective on changing the incentives of our elections.
Podcast: Seeking approval in Utah


IVN is joined by Nate Allen, founder and Executive Director of Utah Approves, to discuss Approval Voting and his perspective on changing the incentives of our elections.

Congress is considering a bipartisan bill to mint a new $2.50 coin for America’s 250th anniversary, reviving a historic 1926 design and separate from the debated Trump coin.
Items priced at exactly $2.50 include a mug reading "Major League Grandpa," a water bottle saying "Proud Military," and a New Orleans Saints 3D magnet.
What the bill does
The $2.50 for America’s 250th Act would create a new $2.50 coin for the Declaration of Independence’s upcoming milestone anniversary in 2026.
Rep. Robert Aderholt (R-AL4) introduced the House version on September 30, while Sen. Cynthia Lummis (R-WY) introduced the Senate version that same day.
Unrelated to the reported Trump coin
A recent controversial draft design would depict President Donald Trump on a potential new $1 coin, also tied to the Declaration’s upcoming 250th anniversary. To clarify: this legislation is bipartisan and completely separate from that.
Five years ago, Congress enacted the Circulating Collectible Coin Redesign Act of 2020, which allowed the government to mint a new $1 coin design for the Declaration’s anniversary in 2026. However, Congress didn’t specify who or what this design would depict, leaving the decision up to the Treasury.
Trump’s U.S. Treasurer Brandon Beach confirmed the leaked drafts depicting Trump himself were real and under consideration, though no final decision has yet been made on whether to depict him after all.
This bill is distinct in two ways: it relates to a potential new $2.50 coin rather than the $1 coin, plus the actual designs are specified in the legislative language.
The design
So, if enacted, what would the $2.50 coin depict?
The coin’s design would replicate the 1926 design used a century ago during the Declaration’s 150th anniversary. The front depicted Lady Liberty holding the Declaration in one hand and a torch in the other, while the back depicted Philadelphia’s Independence Hall, where the document was originally signed.
That coin was also worth $2.50, even though it marked the Declaration’s 150th anniversary, rather than the 250th. (It was worth a lot more then than the current version would be, though: $2.50 back in 1926 would be worth approximately $46 today.)
Indeed, the $2.50 coin actually has a long history, though it’s now little known outside the numismatics community. A $2.50 coin was minted for more than half the country’s duration, from 1796 to 1929. For example, a 1925 design for the $2.50 coin depicted a Native American man in traditional headdress on the front and an eagle on the back.
What supporters say
Supporters argue that a new coin would help encourage patriotism and national pride during an important upcoming anniversary.
“The signing of the Declaration of Independence was a turning point in the history of the United States and the world, one that warrants national recognition,” Rep. Aderholt said in a press release. “[This bill] recognizes this importance through a meaningful coin that links our nation’s past to its present and future.”
“As America’s 250th birthday approaches, my legislation revives a 100-year-old tradition that celebrates our founding principles and joins a new generation of Americans with those who celebrated our nation’s founding 100 years ago,” Sen. Lummis said in a separate press release. “[The bill would] celebrate the values we hold so dear and create a lasting tribute families can treasure for generations.”
Odds of passage
The House version has attracted 45 cosponsors: 26 Republicans and 19 Democrats. It awaits a potential vote in the House Financial Services Committee.
The Senate version has attracted five bipartisan cosponsors: three Republicans and two Democrats. It awaits a potential vote in the Senate Banking, Housing, and Urban Affairs Committee.
The Fulcrum was unable to locate any explicit statements of opposition. The aforementioned Circulating Collectible Coin Redesign Act of 2020, which allowed for a new $1 coin in 2026, passed without objection in the House and by unanimous consent in the Senate.
Similar bills
The Fulcrum recently covered another congressional bill related to the Declaration’s upcoming 250th anniversary celebration: legislation for Congress to meet on July 2, 2026, at Philadelphia’s Independence Hall, where the Declaration was originally signed.
The Fulcrum also covered recent bills to make changes to coins or money, including legislation to suspend both penny and nickel production for 10 years, and to put President Trump’s face on a potential new $250 bill.
Jesse Rifkin is a freelance journalist with The Fulcrum. Don’t miss his report, Congress Bill Spotlight, on The Fulcrum. Rifkin’s writings about politics and Congress have been published in the Washington Post, Politico, Roll Call, Los Angeles Times, CNN Opinion, GovTrack, and USA Today.
Congress Bill Spotlight: The Charlie Kirk Act
Congress Bill Spotlight: Department of War Restoration Act

Congress is considering a bipartisan bill to mint a new $2.50 coin for America’s 250th anniversary, reviving a historic 1926 design and separate from the debated Trump coin.
Items priced at exactly $2.50 include a mug reading "Major League Grandpa," a water bottle saying "Proud Military," and a New Orleans Saints 3D magnet.
What the bill does
The $2.50 for America’s 250th Act would create a new $2.50 coin for the Declaration of Independence’s upcoming milestone anniversary in 2026.
Rep. Robert Aderholt (R-AL4) introduced the House version on September 30, while Sen. Cynthia Lummis (R-WY) introduced the Senate version that same day.
Unrelated to the reported Trump coin
A recent controversial draft design would depict President Donald Trump on a potential new $1 coin, also tied to the Declaration’s upcoming 250th anniversary. To clarify: this legislation is bipartisan and completely separate from that.
Five years ago, Congress enacted the Circulating Collectible Coin Redesign Act of 2020, which allowed the government to mint a new $1 coin design for the Declaration’s anniversary in 2026. However, Congress didn’t specify who or what this design would depict, leaving the decision up to the Treasury.
Trump’s U.S. Treasurer Brandon Beach confirmed the leaked drafts depicting Trump himself were real and under consideration, though no final decision has yet been made on whether to depict him after all.
This bill is distinct in two ways: it relates to a potential new $2.50 coin rather than the $1 coin, plus the actual designs are specified in the legislative language.
The design
So, if enacted, what would the $2.50 coin depict?
The coin’s design would replicate the 1926 design used a century ago during the Declaration’s 150th anniversary. The front depicted Lady Liberty holding the Declaration in one hand and a torch in the other, while the back depicted Philadelphia’s Independence Hall, where the document was originally signed.
That coin was also worth $2.50, even though it marked the Declaration’s 150th anniversary, rather than the 250th. (It was worth a lot more then than the current version would be, though: $2.50 back in 1926 would be worth approximately $46 today.)
Indeed, the $2.50 coin actually has a long history, though it’s now little known outside the numismatics community. A $2.50 coin was minted for more than half the country’s duration, from 1796 to 1929. For example, a 1925 design for the $2.50 coin depicted a Native American man in traditional headdress on the front and an eagle on the back.
What supporters say
Supporters argue that a new coin would help encourage patriotism and national pride during an important upcoming anniversary.
“The signing of the Declaration of Independence was a turning point in the history of the United States and the world, one that warrants national recognition,” Rep. Aderholt said in a press release. “[This bill] recognizes this importance through a meaningful coin that links our nation’s past to its present and future.”
“As America’s 250th birthday approaches, my legislation revives a 100-year-old tradition that celebrates our founding principles and joins a new generation of Americans with those who celebrated our nation’s founding 100 years ago,” Sen. Lummis said in a separate press release. “[The bill would] celebrate the values we hold so dear and create a lasting tribute families can treasure for generations.”
Odds of passage
The House version has attracted 45 cosponsors: 26 Republicans and 19 Democrats. It awaits a potential vote in the House Financial Services Committee.
The Senate version has attracted five bipartisan cosponsors: three Republicans and two Democrats. It awaits a potential vote in the Senate Banking, Housing, and Urban Affairs Committee.
The Fulcrum was unable to locate any explicit statements of opposition. The aforementioned Circulating Collectible Coin Redesign Act of 2020, which allowed for a new $1 coin in 2026, passed without objection in the House and by unanimous consent in the Senate.
Similar bills
The Fulcrum recently covered another congressional bill related to the Declaration’s upcoming 250th anniversary celebration: legislation for Congress to meet on July 2, 2026, at Philadelphia’s Independence Hall, where the Declaration was originally signed.
The Fulcrum also covered recent bills to make changes to coins or money, including legislation to suspend both penny and nickel production for 10 years, and to put President Trump’s face on a potential new $250 bill.
Jesse Rifkin is a freelance journalist with The Fulcrum. Don’t miss his report, Congress Bill Spotlight, on The Fulcrum. Rifkin’s writings about politics and Congress have been published in the Washington Post, Politico, Roll Call, Los Angeles Times, CNN Opinion, GovTrack, and USA Today.
Congress Bill Spotlight: The Charlie Kirk Act
Congress Bill Spotlight: Department of War Restoration Act

When Colm Kelleher, chairman of UBS, sat down with Scott Bessent in recent months to discuss uprooting the bank's headquarters from Zurich to New York, it was more than corporate maneuvering. It was a signal flare for the financial world under Donald Trump's second term. Bessent promised a regulatory bonfire that could slash compliance costs and open the floodgates for American finance. The reported talks underscore a broader shift: the United States is apparently positioning itself as the unassailable hub of global capital, drawing in institutions like UBS with tax breaks and lighter oversight. Yet this allure comes at a steep price for emerging markets, where wage growth is already fragile. What looks like a boom for American workers masks a quiet trap, one that could deepen the divide between rich nations and the rest.
Bessent's vision, laid out in private conversations and public hints, paints a picture of American exceptionalism reborn. He has warned of a "perfect storm" of inherited inflation and supply disruptions from the Biden years, now to be tamed by aggressive deregulation and targeted tariffs. In one recent interview, he blamed soaring beef prices on a mix of migrant-driven cattle issues and lingering policy failures, framing Trump's agenda as the corrective force. The rhetoric is folksy, but the policy is sharp: roll back rules that hobble banks, lure foreign firms stateside, and shield domestic industries with import duties. UBS's flirtation with relocation fits neatly here. Across the Atlantic, Trump offers relief: no more endless stress tests, faster mergers, and a friendlier tax code. If UBS moves, it could save hundreds of millions annually in regulatory overhead, funneling those gains into higher bonuses for its New York traders.
This is not isolated. Other European lenders are weighing similar shifts. The draw is clear: America's labor market, bolstered by reshoring, promises wage hikes for skilled workers in finance and tech. Entry-level analysts in Manhattan could see annual raises of 5 to 7 percent, outpacing inflation, as firms consolidate operations. Trump's team projects this will add 1.5 million jobs by mid-2026, many in high-wage sectors. Bessent, a hedge fund veteran who made his fortune betting on currency swings, sees it as a virtuous cycle: more capital inflows mean more lending, more investment, and fatter paychecks for the middle class.
But turn the lens southward, to the factories of Vietnam, the call centers of India, and the assembly lines of Mexico. Here, the same policies spell stagnation. Trump's tariffs, announced in early November and partially rolled back on commodities like beef and coffee just days ago to ease domestic inflation, still target manufactured goods with duties of 10 to 20 percent. The exemptions are tactical, aimed at grocery bills, but the core assault on electronics, autos, and textiles remains. Emerging markets, which supply 40 percent of U.S. imports in these categories, are set to take a direct hit. Early modelling by trade economists suggests significant downside risk to electronics exporters such as Vietnam. That translates to lost orders, idle workers, and frozen wages. Factory hands in Hanoi, earning around $300 a month, will not see the 3 percent gains economists once forecast; instead, vulnerable export hubs risk stagnation or decline if orders fall
India tells a starker story. Its IT services sector, which employs 5 million and fuels middle-class dreams, depends on U.S. outsourcing deals. Tariffs on components could inflate costs by 8 percent, prompting clients like JPMorgan to pull back. Wages in Bengaluru, stagnant at 4 percent growth since the pandemic, may flatline entirely. Mexico, Trump's neighbor and largest trading partner, faces the cruelest irony. Nearshoring boomed under Biden, with $35 billion in new factories. Now, 25 percent border duties threaten to unwind that. Maquiladora workers in Tijuana, averaging $450 monthly, could see real wages erode by 5 percent as U.S. buyers seek alternatives in the heartland.
This is the mirage: U.S. growth at the expense of emerging markets. Trump's plan, for all its talk of fair trade, accelerates deglobalization. Supply chains, painstakingly woven over decades, will fray as firms chase the lowest-risk path. The Atlantic Council tracks over 50 tariff actions since the inauguration, each chipping away at cross-border flows. J.P. Morgan Research now cuts its 2025 global growth forecast to 2.7 percent, with emerging economies bearing the brunt at 3.9 percent, down from 4.5 percent. Wages follow suit. While American finance swells, the global south's labor surplus grows, suppressing pay in export hubs. The International Labour Organization warns of a "lost decade" for developing nations if trade volumes drop 10 percent, as projected. Inequality widens not just within countries, but between them, echoing the K-shaped recovery we saw post-COVID: the top accelerates, the base stalls.
Bessent and his peers may dismiss this as collateral, but Americans are not powerless. Voters, consumers, and civic actors can exert pressure on Congress and the administration to ensure that trade policies and deregulation take global labor impacts into account, whether through public letters, petitions, or targeted campaigns. Citizens can influence corporate behavior by favoring companies that maintain fair labor practices abroad and by holding firms accountable for their supply-chain ethics. Engagement with NGOs and civic groups that monitor U.S. trade decisions offers another avenue to shape outcomes. In contrast, advocacy for multilateral frameworks promoting fair wages and sustainable trade- through U.S.-based organizations and think tanks - can reinforce American leadership and credibility. These efforts not only support workers abroad but also protect the United States’ legitimacy in the global economy, reducing the risk that its firms and policies provoke backlash.
Bessent's perfect storm is no inheritance from Biden. It is a deliberate gale, one that lifts American sails while grounding ships in distant ports. UBS may thrive in New York, but the workers it leaves behind in Zurich, and those it displaces in Asia, will pay the toll. Global finance cannot afford such zero-sum games. The storm breaks soon; better to seek shelter together than watch the divide grow.
Imran Khalid is a physician, geostrategic analyst, and freelance writer.

Secretary of Defense Pete Hegseth speaks to senior military leaders in Quantico, Va., on Sept. 30, 2025.
For over a hundred years, Nov. 11 – Veterans Day – has been a day to celebrate and recognize the sacrifice and service of America’s military veterans.
This Veterans Day, as always, calls for celebration of the service and sacrifice of America’s troops. But it also provides an opportunity for the public to learn at a deeper level about America’s troops and who they are.
Over the past year, Secretary of Defense Pete Hegseth and President Donald Trump have consistently attacked diversity in the military and critiqued military leaders they see as overseeing a “woke” military. Trump has argued that the military “went, in a way, woke” and called for armed forces that would “not be politically correct.”
At a meeting of hundreds of top military personnel at Marine Corps Base Quantico in Virginia in late September 2025, Hegseth claimed the Department of Defense became “the woke department,” infected by “toxic political garbage” and the “insane fallacy that ‘our diversity is our strength.’”
When Trump and Hegseth rail against “wokeness” in the ranks, they fundamentally misunderstand military diversity and undermine veterans.
Today’s generation of veterans is the most diverse in history. Veterans who have served post 9/11 are more diverse in terms of gender and race than previous generations. They are also more likely to have been deployed, seen combat and experienced emotional trauma. In fiscal year 2014, the highest rates of post-traumatic stress disorder among veterans were found among Native American or Alaska Native and Native Hawaiian and other Pacific Islanders, according to the U.S. Department of Veteran Affairs.
These statistics make clear the gap between the vision of the military the Trump administration desires and the reality of those who have and continue to serve.
Having spent years studying the U.S. military and writing a book on diversity and military recruiting, I know military diversity is a long-standing practice driven by the very nature and history of the all-volunteer force.
During times of war and between 1948 and 1973, the U.S. military drafted enlistees to fill the ranks. After years of debate, the draft was ended and the U.S. established an all-volunteer force in 1973.
The demographic makeup of the military quickly changed as more Black Americans and women chose to join the military. In a 2007 study of representation in the military, scholars found that Black Americans had been overrepresented in the military for much of the span of the all-volunteer force. And the percentage of Latino service members more than doubled from the late 1980s to the 2000s.
A 1976 ad in Ebony magazine presents the Navy as a way for Black men to get ahead. Ebony magazine.Additionally, Latino service members made up 25% of new enlistees in 2022.
While women remain underrepresented in the military compared with the U.S. population, the shift to the all-volunteer force led to a steady increase in women’s military participation. Women made up 3% of military personnel in 1973 and 17% in 2022.
The military would not have been able to meet personnel needs and recruitment goals without the disproportionate representation of women, Black Americans, and Latino service members during this post-draft period.
The U.S. military embraced this diversity long before the influence of “woke” politics and diversity, equity and inclusion initiatives that Hegseth and Trump claim have undermined the institution.
That embracement has helped the military enlist between 128,000 and 190,000 new service members annually since the 1990s, even though some armed forces, especially the Army, have struggled to meet their recruiting goals in the past few years.
Men who have signed up to join the U.S. Marines wait to do qualifying pull-ups in New York City on Nov. 16, 2025. Robert Nickelsberg/Getty ImagesTo fully understand how the military became one of the most diverse American institutions, you need to go back to the foundations of the all-volunteer force.
The primary challenge the military faced in the implementation of the all-volunteer force was how to persuade young Americans to enlist. Large budgets were set aside for advertising, and military branches worked with advertisers to reach potential recruits.
One of the first steps advertisers took in the mid-1970s was to identify “vulnerable target groups.” These groups were targeted based on propensity – the likelihood that an individual would serve regardless of their desire to do so.
The likelihood of service increased when people felt they had little opportunity outside of the military – whether that meant financial struggles or an inability to afford higher education.
Based on ideas of recruit quality and the traits the military sees as best suited to success in the ranks, the military has mostly desired to recruit straight and white young men. But these people were more likely to have opportunities outside of the military. So, military leaders had to expand the scope of potential recruits to reach out to groups previously excluded – namely, Black Americans, other people of color and women.
When Hegseth talks about “fixing decades of decay” in a department gone “woke,” and when Trump argues that the military will now be “all based on merit,” they both fail to understand military diversity.
The military didn’t become diverse because it went “woke” or abandoned a merit-based system of promotions.
Military diversity resulted from the exploitative nature of military recruiting. In the all-volunteer force, the most easily persuaded recruits are those in most need of opportunities they can’t find in the civilian world. The very logic behind an all-volunteer force means that the military can’t fill their ranks with white men alone.
A U.S. Army recruiter walks between outdoor posters at a mobile interactive recruiting exhibit on May 21, 2005, in Charlotte, N.C. The U.S. military has had to reach out to the public to communicate a more effective message and compete with other professions to attract potential soldiers. Robert Nickelsberg/Getty Images.Hegseth and Trump, additionally, have framed their criticism of the military with an obsessive focus on looks.
Hegseth criticized the “bad look” of the current military, saying “it’s tiring to look out at combat formations, or really any formations, and see fat troops.” He also railed against “an era of unprofessional appearance” indicated by “beards, long hair and superficial individual expression.”
Trump has consistently talked about wanting military leaders to look like they are out of “central casting”, a phrase he uses almost exclusively to talk about white men.
The firings of Admiral Lisa Franchetti, the first woman to serve on the Joint Chiefs of Staff, and General CQ Brown Jr., the second Black Chair of the Joint Chiefs, appear to reflect this vision of the military in practice.
When Trump and Hegseth attack military diversity, they harm individuals who made the choice to serve. They also perpetuate the myth that military diversity was enforced from outside the military by liberal “woke” politics rather than born of necessity for the military’s very survival.
Jeremiah Favara is an assistant professor of communication studies at Gonzaga University.
The Military’s Diversity Rises out of Recruitment Targets, Not Any ‘Woke’ Goals was originally published by The Conversation and is republished with permission.