US Economy

TL/DR - The Internal Revenue Service (IRS) has issued Notice 2024-30, which expands certain rules for determining energy communities for production and investment tax credits. The IRS has also identified additional Metropolitan Statistical Areas (MSAs) and non-MSAs that meet the Fossil Fuel Employment threshold and qualify as energy communities…

TL/DR - The Inflation Reduction Act (IRA) could undermine the development of new therapies for psychiatric conditions such as schizophrenia due to a disparity in how it treats small and large molecule drugs. The Act protects new large molecule medicines for 13 years, but only grants small molecule drugs, which comprise almost all psychiatric…

TL/DR - Saratoga National Historical Park in the US is set to receive a portion of nearly $200 million from the National Park Service to address natural resource challenges. The funding, part of the Inflation Reduction Act, will be used for three projects: controlling invasive species in 19 parks, restoring park grasslands, and managing…

TL/DR - The Biden administration has introduced new tailpipe regulations for passenger cars and trucks, aiming to accelerate the transition to electric vehicles (EVs) and hybrids. The regulations are designed to cut passenger car pollution in half by 2032 compared to 2026 levels and set targets for EVs to comprise between 35% and 56% of new…