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US Economy

New Federal Laws Address Digital Therapeutics, Care Access

TL/DR - The U.S. healthcare legislation has been crucially affected by the removal of Kevin McCarthy as the Speaker of the House; however, progress around digital therapeutics, access to care, and health care disparities is still important. The federal legislative and regulatory updates include the Access to Prescribing Digital Therapeutics Act,…

U.S. Economy Leads in Growth and Labor Strength, Says Treasury Analysis

TL/DR - The US economy continues to outperform its global counterparts, according to data from the International Monetary Fund (IMF) and other sources analysed by the US Department of Treasury. The analysis showed the US's economic output, labour market resilience, and slowing inflation were growing stronger than anticipated throughout 2023. The…

IRS crackdown on wealthy nets millions in back taxes

TL/DR - The IRS has announced that it has collected $122 million in back taxes from 100 cases involving millionaires who were significantly behind on their payments, bringing the total recent collection from wealthy households to $160 million. This comes after a tax and climate package enacted last summer earmarked billions for the IRS to overhaul…

ITM Power Expands to US Market Amid Inflation Reduction Act Demand

TL/DR - London-listed hydrogen firm ITM Power plans to enter the US market due to the potential offered by the $370bn Inflation Reduction Act (IRA) for green hydrogen production. The company sees the US as a possible major market for electrolysers, devices that use electricity to split water into hydrogen and oxygen, to produce low-emission…