US Economy

TL/DR - President Joe Biden, in his fiscal 2025 budget proposal, asked Congress to provide an unprecedented $104 billion in extra funding for the IRS, on top of its $12.3 billion annual budget and the $80 billion it already received through the Inflation Reduction Act. The IRS justifies this request as necessary to maintain IRS employees and…

TL/DR - The U.S. Department of Health and Human Services Office of the Assistant Secretary for Planning and Evaluation (ASPE) has released research suggesting the Inflation Reduction Act (IRA) provisions will reduce costs for women with Medicare. The data suggests that the IRA's $35 cap on cost sharing for Medicare-covered insulin would have…

TL/DR - The US Environmental Protection Agency (EPA) is providing nearly $1 billion in grants to support the replacement of gas heavy-duty vehicles and school buses with electric vehicles. The Clean Heavy-Duty Vehicles Grant Program will fund the adoption and deployment of eligible Class 6 and 7 electric vehicles, charging infrastructure, and…

TL/DR - Funding from the federal Inflation Reduction Act is being used to support forest farming in southeast Ohio, incentivizing landowners to preserve forested areas while generating income from non-timber forest products. A program established by non-profit Rural Action, which recently received a $6 million partnership with the U.S. Forest…