Despite the claims of Bidenomics acolytes that it will “rebuild the middle class,” a new study states that the hundreds of billions in federal subsidies for electric vehicle (EV) production are wasteful corporate giveaways, to the tune of up to $7 million per job created. “Taxpayers are going to forego tens of billions of dollars…
IN-DEPTH: ‘Bidenomics’ Spends Up to $7 million to Create Each $50,000 ‘Green’ Job, Study Finds
July 21, 2023
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It’s the Methane, Stupid: Washington Rhetoric on Climate Misses the Biggest Target
June 22, 2023
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Biden ClimateBusiness & MarketsBusiness Columnistseconomic policiesenergyInflation Reduction Act of 2022Marketsmethane emissionsrenewable fuelsUSUS News
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Commentary There are two aspects of the climate policies coming out of Washington and various state capitals that trouble me. The first is that officials set ostensivsely arbitrary and ambitious deadlines with little evidence they can be achieved. I’m always stunned that politicians can march before the microphones and boldly state that “by 2030, we will…
Big Banks, Corporations Getting 90 Percent of Biden’s Green Energy Credits: Congressional Study
April 20, 2023
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energyEnergy Tax Creditsgreen energyHouse Ways and Means Committee Chairman Jason SmithInflation Reduction Act of 2022Joint Committee on TaxationPolicies & Impactspresident joe bidenUSUS News
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Most of the green energy tax benefits provided by President Joe Biden’s $750 billion Inflation Reduction Act (IRA) of 2022 are going into the coffers of big banks and billion-dollar corporations, according to House Ways and Means Committee Chairman Jason Smith (R-Mo.). “While President Biden’s supercharged IRS is warming up to target working Americans, his…
IRS to Spend $80 Billion to Increase Staffing, Upgrade Technology: Deputy Treasury Secretary
The IRS will spend $80 billion over the next 10 years to increase staffing and upgrade technology in an effort to make the agency easier to deal with and fairer for all taxpayers. “The IRS is committed to continuing to make investments so that you can deal with the IRS in an easier way going…
As Demand Rises, US Nuclear Power Industry Seeks to Shore Up Uranium Supply Chains
April 12, 2023
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2024 electionBiden 'Rush to Green Energy Policy'congressDemocratseconomyExecutive BranchInflation Reduction Act of 2022National SecurityPolicies & ImpactsPoliticsRepublicansUSUS NewsUS nuclear power industry
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The Biden administration’s commitment to transitioning from fossil fuels to renewable “green” energies such as electric, nuclear, solar, and wind over the next decade have fostered cart-before-horse disruptions and disconnects across an array of industries. For instance, initiatives adopted over the last four years when Democrats ruled both chambers in Congress in the Bipartisan Infrastructure…
IRS Report Fails to Provide Key Details, Republican Lawmakers Say
April 7, 2023
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biden administrationDanny WerfeleconomyInflation Reduction Act of 2022IRSJason SmithJohn ThuneNational Taxpayers Union FoundationPolicies & ImpactsRep. Bill PascrellRichard Nealtax policyTreasury Secretary Janet YellenUSUS NewsWays and Means Committee
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House Ways and Means Committee Chairman Jason Smith (R-Mo.) has criticized the IRS for failing to provide essential information in its much-anticipated report released on April 6. The tax agency unveiled its strategic operating plan in the report, disclosing how it plans to use the $80 billion in new funding provided by the Democrats’ Inflation…
Manchin Calls Biden Admin’s Electric Vehicle Tax Credit Plan a ‘Pathetic Excuse’
Sen. Joe Manchin (D-W.Va.) said a new Biden administration ruling on electric vehicle tax credits provisions in the 2022 Inflation Reduction Act (IRA) was a significant deviation from what he believed was the intent of the law when he voted for it last summer. A provision of the Inflation Reduction Act allowed for up to…
Manchin Threatens to Sue Biden Admin If It Alters Electric Vehicle Credit System
March 30, 2023
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Sen. Joe Manchin (D-W.Va.) is threatening to sue President Joe Biden’s administration if the Treasury Department moves to expand the electric vehicle tax credit system beyond the limits he agreed to when he agreed to support Biden’s Inflation Reduction Act (IRA) legislation last year. On Wednesday, Manchin published an op-ed in the Wall Street Journal,…
Loose Regulations Could Triple Biden’s Green Energy Agenda Costs to $1.2 Trillion: Analysts
The cost of President Joe Biden’s green energy agenda could rise to $1.2 trillion, more than triple the original projection, if not accompanied by conservative implementation guidelines, financial analysts say. The Inflation Reduction Act of 2022 offers large tax and investment credits for the purchase of electric vehicles, home solar panels, heat pumps, energy-efficient home…
27 Drugs Will Be Cheaper for Medicare Recipients From April
March 16, 2023
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Business & Marketsdrug pricingInflation Reduction Act of 2022Medicaremedicare drugspersonal financePolicies & Impactsprescription drugsSocial IssuesUSUS News
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Some beneficiaries of Medicare could start paying less for 27 prescription drugs from next month as their prices have exceeded the rate of inflation. “Today, the Department of Health and Human Services [HHS], through the Centers for Medicare & Medicaid Services (CMS), announced 27 prescription drugs for which Part B beneficiary coinsurances may be lower…
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