Browsing Category

US Economy

Español Health & Wellness Lifestyle Media Parents Politics Top Posts
US Economy

IRA & CHIPS Act Boost US Manufacturing Construction

TL/DR - US construction spending on new manufacturing facilities more than doubled in 2023, averaging $16.2 billion a month, thanks to the Biden administration's Infrastructure Investment and Jobs Act, Inflation Reduction Act, and CHIPS and Science Act. However, labor force shortages pose challenges to staffing these new facilities, with the US…
US Economy

Biden’s Act Cuts Home Energy Costs, Reduces Inflation

TL/DR - The Biden-Harris administration's Inflation Reduction Act has spurred a clean energy boom in the US, contributing to over $360 billion in private sector clean energy announcements since President Biden took office. It is projected to cut electricity rates by up to 9% by 2030. The Act also introduces consumer-focused programs, including…
US Economy

Biden’s Climate Policies May Exceed Initial $400B, Says CBO

TL/DR - The Congressional Budget Office (CBO) estimates that climate initiatives in President Biden's Inflation Reduction Act (IRA) will cost over $400 billion more than initially anticipated. A large portion of these increased costs arose from clean vehicle tax credits and revenues from excise taxes on gasoline. The CBO's estimate aligns more…
US Economy

Biden’s Policy Aids IRS in Collecting $851B from Ultra-Wealthy

TL/DR - The Internal Revenue Service (IRS) is set to collect hundreds of billions of dollars of additional tax revenue from the outstanding and overdue taxes of the ultra-wealthy, funded by President Biden's Inflation Reduction Act. The Treasury Department and the IRS estimate that tax revenues will rise by up to $561 billion from 2024 to 2034…