The Biden administration has made a major move towards clean energy by shortening the list of electric vehicles that qualify for federal subsidies. The announcement comes as part of a broader plan to reduce greenhouse gas emissions and transition to a low-carbon future. The new rules are expected to significantly impact the auto industry, as well as consumers who are considering purchasing an electric vehicle.
The Treasury, Federal Reserve, and Federal Deposit Insurance Corporation have also unveiled a plan to contain fallout from Silicon Valley Bank's collapse. The bank's failure has raised concerns about the stability of the financial system and the potential impact on other banks. The plan aims to prevent a systemic crisis and ensure that customers are protected.
The Biden administration is also putting pressure on the chip industry to make commitments regarding its workers and finances. In return for subsidies, the administration is asking the industry to agree to certain conditions, including maintaining a certain level of domestic production and investing in research and development.
JPMorgan Chase's recent acquisition of a college financial planning company called Frank has raised questions about the role of banks in the student loan industry. The acquisition was heralded as a way to help students navigate the complex world of student loans, but some critics have raised concerns about the potential for conflicts of interest.
As pandemic relief measures expire, many individuals and businesses are feeling the pinch. Tax credits that were expanded as part of pandemic relief have ended, as has the deduction for donations for people who don't itemize. This has left many people wondering how they will make ends meet in the coming months.
In amended campaign finance reports, a politician seemed to suggest that loans he received did not come from his personal funds, as he had originally claimed. This has raised questions about the role of money in politics and the need for transparency in campaign finance.
The electric utility industry has shed its opposition to clean-air regulation and put its support behind efforts to reduce greenhouse gas emissions. This is a significant shift for an industry that has traditionally been resistant to environmental regulation.
Republican state treasurers around the country are working to thwart climate action on state and federal levels. This has led to concerns about the impact on the environment and the potential for increased greenhouse gas emissions.
Finally, the drug company Perrigo has found itself in hot water after consultants at the giant advisory firm EY devised an elaborate arrangement that would allow the company to avoid paying taxes on billions in profits. This has raised questions about the ethics of tax avoidance and the role of corporations in society.
