US Economy

TL/DR - Senate Majority Leader, Charles E. Schumer, has announced a $249.8 million federal grant for the New York State Energy Research and Development Authority (NYSERDA) to implement solar technology in disadvantaged and low-income households. The funding is part of the $7 billion Solar for All grant competition and the EPA's $27 billion…

TL/DR - The US federal government is issuing $8.8 billion for Home Energy Rebates programs through states, territories, and tribes. These rebates, worth up to $14,000 or more per household depending on a state's program design, are designed to offset costs for homeowners and landlords who make certain efficiency upgrades to their property. The…

TL/DR - In his election-year campaign, President Joe Biden promises to cap the annual out-of-pocket cost for prescription drugs at $2,000 for Medicare Part D users, starting in 2025. The Inflation Reduction Act, which Biden signed in 2022, will implement this cap but only for drugs received through pharmacies, excluding those administered in a…

TL/DR - Albemarle, Cummins, and Siemens Energy are among the companies that have received tax credit under the Inflation Reduction Act (IRA). The companies are involved in 35 projects focused on electrical grid enhancements, critical minerals, and electric vehicle components, which received a total of $1.93 billion in tax credits. The tax…