Article Summary – President Biden signed the Inflation Reduction Act (IRA) in 2022, targeting reduction in health care costs by mandating price reductions for some expensive Medicare/Medicaid drugs, excluding orphan drugs with a single indication. The Act may, however, lead to unintended consequences in the orphan drug market, as it
Article Summary – A new group, the SAF Coalition, aims to lobby lawmakers to extend a tax credit from the Inflation Reduction Act to increase the production of sustainable aviation fuel. The coalition, made up of almost 40 large airlines, airports, manufacturers, and biofuel producers, is forming at a crucial
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
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
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
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
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,
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
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,
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
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
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
