Inflation Reduction Act News

Pelosi upbeat at White House Inflation Reduction Act celebration

Article Summary – The White House is celebrating the Inflation Reduction Act, a significant piece of legislation that was passed with close collaboration between Senate Democrats. The Act focuses on addressing climate change, drug prices, healthcare costs, and reducing the deficit and inflation. Speaker Nancy Pelosi commended the leadership that

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Biden unveils Pennsylvania workforce hub

Article Summary – President Biden announced that Philadelphia will host a workforce hub to train and connect workers to job opportunities enabled by legislation he signed into law. The program, part of Biden’s Investing In America agenda, will also be launched in New York, Michigan, Wisconsin and Pennsylvania, joining previously

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Biden unveils Michigan workforce hub

Article Summary – President Joe Biden has announced the creation of new workforce hubs in Michigan, New York, Wisconsin, and Pennsylvania, joining the five previously established hubs. These hubs aim to train and connect workers to new employment opportunities created by legislation Biden has signed into law, including the American

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Biotech Experts: Inflation Reduction Act to Impact R&D

Article Summary – The Inflation Reduction Act (IRA), set to take effect in 2026, has sparked concerns over potential impacts on research and development in the biotech sector. The IRA intends to control inflation by enabling Medicare to negotiate prices and rebates for certain drugs, and critics argue it could

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EPA grants $1B for electric buses and heavy-duty vehicles

Article Summary – The US Environmental Protection Agency (EPA) has announced nearly $1 billion in grants to replace gas-powered heavy-duty vehicles and school buses with electric vehicles. The grant program will support the adoption and deployment of eligible Class 6 and 7 electric vehicles, including school buses and vocational vehicles,

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IRA’s Solar for All to Install 1 Million Systems in US

Article Summary – The Biden administration has announced a $7 billion support for rooftop solar energy projects. The money comes from the Solar for All program, aimed at helping lower-income and disadvantaged households gain financial and environmental benefits from solar power. The program is predicted to lead to the installation

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McCormick, Senate Candidate, Denies Misleading Voters on Wealth

Article Summary – Pennsylvania Republican U.S. Senate candidate Dave McCormick is facing allegations of lying about his early life and financial beginnings. Reports have contradicted McCormick’s claims of growing up poor on a family farm, citing his parents’ decent professional careers and his recent earnings as a hedge fund manager,

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Could Trump End the IRA?

Article Summary – The Inflation Reduction Act (IRA), Biden’s signature climate initiative, has been marked for repeal by Trump and some Republicans in Congress due to its significant cuts in carbon emissions. However, the repeal would face challenges due to Republican majorities required in the Senate and the House, along

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LS Cable Welcomes $99M Tax Credit under Inflation Reduction Act

Article Summary – LS Cable & System has been granted a $99m investment tax credit under Section 48C of the Inflation Reduction Act. The tax credit will be utilized for the company’s ‘green’ manufacturing business expansion in North Carolina. The company is a global power and telecom solutions provider that

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Moore: Reform Needed for Inflation Reduction Act’s Pill Penalty

Article Summary – The interim executive director of AIDS Delaware, Christopher Moore, advocates for the EPIC Act, which aims to rectify pharmaceutical disparities created by the Inflation Reduction Act. The current framework put a significant disadvantage for small molecule drugs, deterring pharmaceutical companies from developing new drugs due to cost

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Biden slams GOP plan to prolong Trump’s tax cuts for the rich

Article Summary – President Joe Biden has criticized a Republican proposal to extend tax cuts for the wealthy and big corporations, originally implemented under former President Donald Trump. In his own budget proposal, Biden has suggested increasing the Child Tax Credit, making Affordable Care Act tax credits permanent, expanding the

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Biden slams GOP’s plan to extend Trump’s tax cuts for rich

Article Summary – President Joe Biden has criticized a Republican proposal to extend tax cuts for wealthy individuals and large corporations, arguing that the tax code should not favor the wealthy. Biden’s own tax policies propose an increase in the corporate tax rate, the expansion of the Child Tax Credit

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