US Economy

TL/DR - Réka Juhász, an economics professor at the University of British Columbia, studies industrial policy, a strategy in which governments aim to promote specific economic sectors. Since the 1980s, industrial policy has been largely disregarded as ineffective and possibly harmful. However, countries, including the U.S under President Biden,…

TL/DR - The Inflation Reduction Act has initiated billions in funding towards alternative fuel sources such as sustainable aviation fuel (SAF), which is made from renewable sources like vegetable oil or animal fat. Given the lack of viable electric or hydrogen-powered planes on the market, SAF is being seen as a promising solution to reducing the…

TL/DR - The Internal Revenue Service (IRS) intends to investigate wealthy executives who use company jets for private purposes yet classify the costs as business expenses for tax purposes. The audit, made possible by the 2022 Inflation Reduction Act, will use advanced analytics to determine whether the use of company jets is correctly allocated…

TL/DR - The Inflation Reduction Act, signed into law by President Biden in 2022, has caused sales of electric vehicles to boom but has fallen short of expectations in terms of renewable power generation. Despite record levels of renewable power and batteries being added last year, supply chain issues, local opposition, and problems obtaining…