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The battle over $20 billion worth of climate-related funding authorized by Congress continues as an appellate court ruled on Tuesday in favor of the Environmental Protection Agency, which had terminated Biden-era grants made to nonprofits. The legal tussle stems from EPA administrator Lee Zeldin’s decision to cancel grants dispersed as part of the Inflation Reduction…
More clean tech manufacturing investments were canceled in the U.S. in the second quarter than were announced, according to a new study from the Rhodium Group and MIT. Companies canceled $5 billion worth of projects, while only $4 billion in new investments was announced. Actual clean tech manufacturing investments, not just announcements, declined by 15%,…
Republican legislators Thursday passed a reconciliation act that, among other things, unwinds much of the Inflation Reduction Act (IRA). The bill, which passed 218-214 with two Republicans voting no, now awaits President Donald Trump’s signature. Trump is expected to sign it. Solar, wind, and clean hydrogen will all lose incentives under the new bill, while…
Tesla is a business built, in part, on government regulations and incentives, from a Department of Energy loan guarantee in 2009 to the regulatory credits it sells to other automakers, which have driven a third of its $32 billion in profits since 2012. Now, the company’s energy business — a rare bright spot amid faltering demand…
The Inflation Reduction Act’s drug price-setting provisions have drawn significant rebuke from experts who argue that many clinical programs will ultimately be killed or never get started as a result of the act’s deleterious effects on innovation. What isn’t getting attention is how the law is reshaping Medicare in big ways. Yes, Democrats have…
It has been an increasingly puzzling week for market watchers and economists alike, as the American economy continues to resist a recession and stymy policymakers hoping to lower inflation and stave off a downturn. A gangbusters September jobs report is putting the efficacy of Federal Reserve interest rate hikes into question, just as falling crude…
Rep. Alexandria Ocasio-Cortez (D-N.Y.) on Wednesday mocked former Vice President Mike Pence (R) for calling for the repeal of the Green New Deal during the 2024 GOP debate, despite the fact that any such legislation has never been signed into law. “Mike Pence was Vice President of the United States and still doesn’t know how…
The White House is warning against so-called MAGAnomics, referring to former President Trump’s economic agenda, to tout President Biden’s economic agenda. The president is traveling to Maryland Thursday to give a speech on the so-called Bidenomics, and the White House shared in a memo ahead of that to argue that the president and former president’s…
On Aug. 29, the Biden administration announced the first 10 drugs whose prices will be negotiated with pharmaceutical companies this year and next, with lower prices becoming effective in 2026. The stakes are huge for American taxpayers and patients. Medicare enrollees taking the 10 selected drugs paid $3.4 billion in out-of-pocket costs in 2022. These 10 drugs cost Medicare $50.5…
White House officials and Democratic lawmakers spent weeks celebrating the one-year anniversary of the Inflation Reduction Act, a legislative package that has been dubbed the most ambitious climate legislation of all time. While that is technically correct — it’s a low bar to meet — the political and practical benefits of the law are hard…