Economy News

Tax Code Embeds Green Transition: White House Economist

Article Summary – White House Council of Economic Advisers Chair Lael Brainard stated that the sustainable energy provisions of the 2022 Inflation Reduction Act (IRA) would be difficult for Republicans to reverse, even if they win majorities in the general election. The IRA includes tax credits and deductions for clean

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Racine County Hopes for Revival with Microsoft

Article Summary – In 2017, Foxconn promised to build a $10 billion TV screen manufacturing plant in Mount Pleasant, Wisconsin, pledging 13,000 jobs, but instead left only a few buildings and 1,000 workers on the 1,200-acre property. The community has gained new hope with Microsoft’s plan to invest $3.3 billion

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GOP’s extension of Trump’s tax cuts may add $4.6T to deficit

Article Summary – Donald Trump and his Republican allies are proposing to extend the individual, business, and estate tax provisions of their 2017 tax law. According to the nonpartisan Congressional Budget Office, this would add $4.6 trillion to the national debt over the first 10 years. However, Joe Biden and

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VP Harris Unveils Pennsylvania Affordable Housing Funding

Article Summary – Vice President Kamala Harris announced that the Biden administration would provide $5.5 billion for housing-related projects across the US, aimed at expanding affordable housing, combating homelessness, supporting people with HIV/AIDS needing housing, and housing for people recovering from substance abuse. The funding will be used to build

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VP Harris Declares Michigan Affordable Housing Funding

Article Summary – Vice President Kamala Harris announced the Biden administration will provide $5.5 billion in funding for housing-related projects across the United States. The funds will be used to expand affordable housing, address homelessness, support people with HIV/AIDS needing housing, and provide housing for people recovering from substance abuse.

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Democrats urge Biden for executive border security action

Article Summary – Fifteen House Democrats have urged President Joe Biden to use his executive power to secure the US border amid a stalemate in Congress on the issue. The letter, spearheaded by Rep. Angie Craig (D-Minn.), said the current situation is untenable and urges Biden to better address security

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VP Harris reveals federal aid for Michigan auto suppliers

Article Summary – Vice President Kamala Harris has announced federal investments for small and medium-sized auto manufacturers in Michigan to either retool or expand their facilities. The Department of Energy has earmarked $50 million each for its Automotive Conversion Grants Program to help businesses transition from traditional vehicles to electric

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EPA Introduces Methane Emission Rules for Oil, Gas Industry

Article Summary – The US Environmental Protection Agency (EPA) has updated its methane emissions reporting requirements for oil and gas operations to ensure greater transparency and accountability for methane pollution. The agency has claimed that these facilities are the nation’s largest industrial source of methane, a climate “super pollutant” that

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IRS Not Set to Cut Budget Anytime Soon

Article Summary – President Biden has requested $104 billion in additional funding for the Internal Revenue Service (IRS) in the 2025 fiscal year budget proposal, atop the $12.3 billion annual budget and an already enacted $80 billion through the Inflation Reduction Act. U.S. Senator Mike Crapo expressed concern over the

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