US Economy

TL/DR - President Joe Biden has stated he will consider changes to his climate policy to assuage concerns from European allies, particularly France, about the incentives designed to boost U.S. manufacturing of electric vehicles and other green technology. However, he insisted that the main principles of the law will remain unchanged. French…

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…