US Economy

TL/DR - U.S. Senators Katie Britt and Ted Cruz, along with 10 other colleagues, have introduced the Natural Gas Tax Repeal Act to overturn the methane emissions fee established by the Biden Administration’s Inflation Reduction Act. The senators argue that this tax increases energy costs and exacerbates ongoing inflation issues for American…

TL/DR - The 2022 Inflation Reduction Act (IRA) includes changes to Medicare Part D to control prescription costs, cap retiree out-of-pocket expenses, and simplify coverage. However, this may pose financial challenges for public sector employers who sponsor group Medicare Part D plans. Under the IRA, changes to Part D include a simpler structure…

TL/DR - The U.S. House of Representatives has passed a $430 billion bill, the largest climate package in U.S. history, which aims to lower greenhouse gas emissions and prescription drug prices. The bill, titled the "Inflation Reduction Act", allows Medicare to negotiate lower drug prices for the elderly, ensures corporations pay their taxes, and…

TL/DR - Republicans are considering cutting sections of the Inflation Reduction Act, the Democrats' 2022 climate law, as they plan to extend the 2017 Republican tax cuts. This includes parts the former President Donald Trump has expressed interest in repealing, such as provisions for offshore wind and electric vehicles. However, the proposed…