Tag: Inflation Reduction Act

How the Sprawling Fight Over Permitting Reform Could Capsize Congress

“Chuck cut the deal without talking to me,” Kaine said. “I was hoping that, before the bill was final, that if I told them the concerns I had, then the final product would address my concerns. It doesn’t.” Kaine told me that he believed there could be some kind of separate bipartisan bill on permitting […]

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Why the Biden Economy Is Better Than You Think (With Brian Deese)

Fresh off a legislative winning streak and after a tough summer, the Biden administration is having a moment. Unprecedented investments in driving clean energy innovation and rebuilding supply chains are poised to reshape the American economy for the next decade and beyond.  Brian Deese, the director of the National Economic Council, had a lot to […]

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Yes, the Polls May Be Wrong Again. But Democrats Have Reasons to Be Optimistic.

But there are tantalizing reasons to suspect these polling numbers aren’t a mirage—that this time, history may take a year off. One of the biggest boons that Republicans received in 2016 and 2020 was Donald Trump’s presence on the ballot: Some voters, it seems, really do only turn out to vote for their guy, a […]

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President takes unexpected trip to Delaware to vote

President Biden on Tuesday took an unexpected trip to Delaware to cast his ballot in the primary election in his home state. When reporters asked the president why he was going to Delaware, he responded, “To vote.” The president’s trip is expected to be a quick jaunt out of Washington. The White House updated his […]

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How Chuck Schumer Finally Got His Big Breakthrough

With the public optimism of a party leader, Schumer told me he thinks Democrats will keep and even expand their majority. “We’re going to do a lot more. We’re not finished,” Schumer said. “But I think the [Inflation Reduction Act] showed the possibilities of what we can do if we stay together, if we stay […]

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The Surprisingly Disappointing Reign of Marty Walsh, Biden’s Labor Secretary

The second regulatory accomplishment was the Labor Department’s reinstatement of a rule barring employers from paying the lower “tipped” minimum hourly wage of $2.13 (as opposed to the regular hourly minimum of $7.25) to workers who spend more than 20 percent of their time performing functions (like cleaning up) where they don’t interact with customers, […]

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Biden leads Trump in hypothetical rematch: poll

President Biden would defeat former President Trump if the 2024 presidential election were held today, according to a Wall Street Journal poll released Thursday. Biden holds a 6-point lead over Trump in a hypothetical rematch, with 50 percent of registered voters saying they would probably or definitely vote for Biden and 44 percent saying the […]

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With a Single Word, Ted Cruz Gave the Game Away About the Right-Wing Supreme Court

In this case, I think the Texas senator’s complaints fairly neatly expose what’s at work: Cruz sees the high court’s conservative majority as a “victory” in an ongoing ideological project. And he’s not wrong—that is precisely how the court’s conservative bloc see it as well. Their end goal has long been apparent: They want to kneecap […]

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I Helped Coin the Phrase “Middle-Out Economics.” Biden Is Making It a Reality.

Despite America’s widening partisan divisions and the slimmest of Democratic margins in Congress, Biden has made good on his promises. The $1.9 trillion American Rescue Plan Act, passed three months after he took office, put money in people’s pockets to boost the economy through the pandemic and delivered $350 billion to states and localities to […]

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Forget FDR. Biden Is a Major President in His Own Right.

The results of these unrealistically elevated expectations can be seen in the polls. Even with a slight rebound in Biden’s numbers, there remains a Democratic deficit. According to a new Ipsos survey, only 75 percent of Democrats approve of Biden’s record as president. The Economist/YouGov poll released last week has Biden’s backing among Democrats bumping […]

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Joe Manchin, Of All People, Threw Some Shade At Krysten Sinema For Holding Up Democratic Legislation

Joe Manchin’s a big hero of the Democratic party right now, but only because for a long time he wasn’t. He may have helped get a light version of President Joe Biden’s “Build Back Better” passed through Congress. But for ages, the West Virginia senator has been one of the thorns in his party’s side, […]

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Caps on prescription drug price hikes most popular aspect of Inflation Reduction Act: poll

A cap on prescription drug price increases is the most popular part of the Inflation Reduction Act, the $430 billion climate, health care and tax package that President Biden signed into law Tuesday, according to a Politico-Morning Consult poll.  The poll found that 76 percent of respondents strongly or somewhat support placing a limit on […]

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Obama: Climate, health care bill ‘a BFD’

Former President Obama tweeted that the Democrats’ newly signed climate and health care bill “is a BFD,” making a reference to a hot mic moment President Biden had years ago. “This is a BFD,” Obama wrote in a tweet on Tuesday, quoting his former vice president’s tweet on the signing of the Inflation Reduction Act.  […]

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Biden signs expansive health, climate bill into law

President Biden signed into law a sweeping bill to lower health care costs and address climate change on Tuesday, sealing a legislative victory more than a year in the making.  The $740 billion bill was significantly slimmed down from the original $3.5 trillion package some envisioned last fall, but nevertheless represents an undeniable win for […]

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Celebrate the Inflation Reduction Act. Then Double Down on Demonizing Fossil Fuels.

Fourth, we need to bring all the stigmatization efforts described above to bear against the Wall Street financiers behind our fossil fuel opponents. Coalitions like Stop the Money Pipeline have been advancing this work for years; it’s time they got the resources necessary to launch campaigns targeting every bank, pension fund, state treasurer, and insurer […]

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Biden to sign health and climate bill on Tuesday

President Biden will sign into law the sweeping climate, health care and tax legislation that has been Democrats’ priority for more than a year during a ceremony at the White House on Tuesday.   The signing will represent a major milestone for Biden and his domestic economic agenda. The prospects of his climate proposal appeared […]

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How Progressives Learned to Stop Worrying and Love the Inflation Reduction Act

Still, the Inflation Reduction Act provides a campaign talking point ahead of what is expected to be a bruising midterm. Democrats could certainly use any kind of boost in November, as they are widely expected to lose the House and may also lose the Senate. “When we’re thinking about, what is the way that we […]

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If Republicans Really Wanted to Fight Crime, They’d Support Climate Policy

This isn’t surprising, given conservative resistance to pretty much any policy response to crime that focuses on compassionate prevention rather than punitive reaction. And Republicans have a particular antipathy to policies mitigating or addressing climate change. The Senate Democrats just passed a historic climate package and not one Republican senator voted for it, despite their […]

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Democrats Might Have Something New For the Midterms: Optimism

But there are three problems with this logic. These are, for the most part, the same voters who have already been mobilized by the Dobbs decision and the fight to preserve abortion rights. Also, the benefits of the legislation will not be readily apparent since there are still regulations to be written and grants to […]

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Raising Young Kids in America Has Become Hell, and The Government Should Finally Acknowledge That

However, while states can help on the margins, and some limited federal laws could get passed, what is actually needed is a new paradigm, one that centers these families as a distinct class of people the same way the federal government treats seniors. Even if states choose to act, or if something like the Romney […]

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The IRA’s Long Overdue New Tax that the Press Hasn’t Noticed

Stock buybacks hit a record $882 billion last year, and they may reach $1 trillion this year. The biggest corporations spend the most on buybacks. Thus Apple lavished $91 billion over the previous four quarters, according to The Wall Street Journal; Alphabet (Google), $55 billion; Meta (Facebook), $53 billion; Microsoft, $33 billion; and Bank of […]

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Don’t Be Fooled by the Inflation Reduction Act’s Big Win, the Senate Still Sucks

For the IRA, Democratic lawmakers used another “one neat trick” to surmount the filibuster: the reconciliation process. In 1974, Congress passed a law to regularize the budget-making process that allowed lawmakers to pass certain types of spending and taxation legislation with a simple majority. Technically, this also applies for the House, but since the House […]

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Biden to tout bill’s prescription drug prices, energy provisions in pitch to Americans, aide says

President Biden plans to use upcoming travel to tout the $740 billion climate, health and tax reconciliation bill passed by Senate Democrats on Sunday, a top White House official said. “The president will — our entire team will be out making the case,” National Economic Council Director Brian Deese said on CNN’s “New Day” on […]

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Yes, the Inflation Reduction Act Is a Big Effing Deal

So that brings us back to the Inflation Reduction Act, IRA. Yes, I wish it were bigger and contained some of the key elements of BBB like subsidized childcare and Medicare expansion and housing. Yes, that sop to Joe Manchin on fossil fuels is very unfortunate. And Republicans stripping out the insulin provision for non-seniors […]

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The Inflation Reduction Act Passes After a Long and Exhausting Weekend in the U.S. Senate

Patrick Leahy arrives for the vote-a-rama in his Batman wheelchair. Bill Clark/Getty Images After limited debate on the reconciliation bill, the Senate proceeded to the vote-a-rama, thus called because it involves nonstop votes on as many amendments as possible without debate. The amendments must be deficit neutral or lessen the deficit, or be “germane.” The […]

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The Democrats Suddenly, Unexpectedly, Have Some Momentum

The focus on Donald Trump and the GOP’s efforts to overturn the 2020 election has similarly soured many on the Republican Party, making a landslide election less likely. “If the headlines over the spring were about stalled progress in Washington, the headlines over the summer have been about the human consequences and the consequences of […]

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Two Cheers for the Inflation Reduction Act

The 15 percent minimum tax has The Wall Street Journal’s editorial board’s knickers in a twist because nearly half of the revenue would be raised from manufacturers. But the tax would fall only on businesses that average more than $1 billion in profits over three years. That means the tax would affect only 150 of the nation’s very biggest corporations, […]

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This Is What Happens When You Treat Fossil Fuels as a National Security Issue

Fossil fuel industry lobbyists argue that the U.S. must increase its exports to Europe of liquified natural gas, or LNG, to reduce European dependence on belligerent Russia. President Biden appears to agree, pledging in March to send an additional 15 billion cubic meters of LNG to Europe annually. This means that around a dozen new […]

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The Inflation Reduction Act Will Reduce Emissions Too

These provisions will also be a boost for clean energy producers in general, as a recent report by the American Clean Power Association found that clean energy deployment decreased significantly in the second quarter of this year. “The entire clean energy industry just breathed an enormous sigh of relief. This is an 11th hour reprieve […]

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The Democrats’ Surprise Chance to Snatch Victory From the Jaws of Defeat

But those winners were largely wiped out in 2020 (Horn lost). Now, if you look at the list of the 26 tossup Democrats, there are only two in those kinds of districts: Jared Golden in Maine’s 2nd, which is R+6, and Matt Cartwright in Pennsylvania’s 8th, which is R+4. Most of them are in districts […]

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Manchin refuses to say whether he would support Biden in 2024

Sen. Joe Manchin (D-W.Va.) on Sunday would not answer directly when asked if he would support President Biden if he ran for reelection in 2024.   “I’m not going I’m not getting into 2022 or 2024,” Manchin told host George Stephanopoulos on ABC’s “This Week.” “Whoever is my president, that’s my president. And Joe Biden is […]

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