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US Economy

Biden admin pledges $120M for tribal climate resilience

TL/DR - The Biden administration plans to fund 146 tribal climate resilience projects with $120 million. The funds, which can be used for mitigation and resilience projects such as relocation efforts, coastal management, and habitat restoration, will be disbursed across 102 tribes and nine tribal organizations. This award is part of a larger $440…
US Economy

‘Inflation Reduction Act’ Successful Due to Its Simplicity

TL/DR - At a conference on mass battery production, market expert Simon Clark and investor Anthony Tse discussed the challenges Europe faces in the battery manufacturing sphere. Both mentioned the simplicity of North American and Chinese regulations and incentives, such as the US's Inflation Reduction Act, as being beneficial for the industry.…
US Economy

Drug Firms Resist Biden’s Push for Lower Prices

TL/DR - Several corporate giants including Amazon, SpaceX, and Trader Joe’s are challenging the constitutionality of the National Labor Relations Act (NLRA), which has allowed workers to bargain collectively for nearly 90 years. In addition, pharmaceutical companies like Bristol Myers Squibb, Novartis, and Novo Nordisk are opposing the Biden…
US Economy

Biden: Medicare drug price talks to cut deficit by $160B in future

TL/DR - President Biden has claimed that legislation he signed, the Inflation Reduction Act, has saved the federal government $160 billion by giving Medicare the power to negotiate lower prescription drug prices. However, these savings have not yet been realized, with the Congressional Budget Office projecting 10-year cumulative savings of $161.7…