In April, Vice President Kamala Harris visited Qcells, a solar panel manufacturing facility in Dalton, Ga., to announce an early triumph of the Inflation Reduction Act: Summit Ridge Energy, one of the nation’s largest developers of community solar projects, would purchase 2.5 million U.S.-made solar panels. Subsidies under the new law brought the price in […]
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European leaders complained for years that the United States was not doing enough to fight climate change. Now that the Biden administration has devoted hundreds of billions of dollars to that cause, many Europeans are complaining that the United States is going about it the wrong way. That new critique is born of a deep fear in […]
Read MoreLast summer, in a meeting with business and labor leaders as Congress prepared to vote on the landmark Inflation Reduction Act, President Biden argued that it would result in “the largest investment ever in clean energy and American energy security — the largest in our history.” He added, “It will be the largest investment in […]
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In early February, federal prosecutors in Utah accused Zachary Bassett and Mason Warr of cheating the United States government out of millions of dollars. The accounting firm they operated had submitted more than 1,000 fraudulent tax forms to the Internal Revenue Service on behalf of businesses trying to claim pandemic-era stimulus funds, the prosecutors said. […]
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Ever since Senator Joe Manchin III, the conservative West Virginia Democrat, cast the crucial vote last year for the Inflation Reduction Act, delivering President Biden his biggest legislative victory to date, the bill has weighed him down politically. Mr. Manchin’s poll numbers in his solidly Republican and coal-rich state dropped last year after he played […]
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Biden administration rules released on Friday that will determine which companies and manufacturers can benefit from new solar industry tax credits are being criticized by U.S.-based makers of solar products, who say the guidelines do not go far enough to try to lure manufacturing back from China. The rules stem from President Biden’s sweeping clean […]
Read More Biden administration rules released on Friday that will determine which companies and manufacturers can benefit from new solar industry tax credits are being criticized by U.S.-based makers of solar products, who say the guidelines do not go far enough to try to lure manufacturing back from China. The rules stem from President Biden’s sweeping clean […]
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President Biden’s signature climate law appears to be encouraging more investment in American manufacturing than initially expected, powering what’s expected to be a surge in new factory jobs and domestic clean energy technologies, according to independent forecasters. If the boom in new battery factories, wind and solar farms, electric vehicle plants and other investments is […]
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Tax day for 2022 has passed. But another deadline looms for people who may be sitting on refunds because they have yet to file 2019 tax returns that were due in the early days of the pandemic. If they don’t file by the final cutoff of July 17, the U.S. Treasury keeps the money. Almost […]
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ALBANY, N.Y. — It seemed like 2023 would be the year that New York would finally take the most consequential steps in decades to address the state’s dire housing shortage. Rising rents and homelessness had made housing a top issue for voters. Gov. Kathy Hochul had unveiled a grand plan, focused on cajoling communities to […]
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Four years ago, Amazon pulled the plug on its plans to build a headquarters in New York City, amid left-wing outrage over a $3 billion public subsidy package. But New York has hardly cut the company off: Amazon’s film and TV arm has received more than $108 million in state tax credits since then, and the left has […]
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It can be hard to remember, but initially MAGA seemed to be about more than election lies and cultural/racial grievance. One central theme of Donald Trump’s 2016 campaign was a promise to bring manufacturing jobs back to the United States. And once in office he tried to make good on this promise by slapping tariffs […]
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Designed to accelerate the shift to electric cars among other climate goals, the Inflation Reduction Act has in practice made buying such vehicles a lot more complicated. In August, the law ruled out the full tax credit of $7,500 for electric vehicles and plug-in hybrids assembled outside North America. That may make it harder for […]
Read More Even as sales of all Hyundai and Kia cars jumped in the first three months of the year, the brands’ electric vehicle sales fell more than 25 percent, according to Kelley Blue Book. Electric car sales on the whole soared to another record in the first quarter, on a pace to top one million cars […]
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American brands like Tesla and General Motors will benefit most from rules that determine which electric vehicles qualify for tax credits starting on Tuesday. Foreign carmakers like Hyundai will be at a significant disadvantage because of restrictions aimed at cutting China out of the supply chain. Only 10 vehicles will initially qualify for tax credits […]
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April 15 has, to put it mildly, a terrible reputation. Tax Day (don’t freak out — you have until Tuesday to file) is a near universally dreaded occasion of financial self-scrutiny, a compulsory rite of adulthood whose rank in the boogeyman taxonomy includes root canals and D.M.V. visits. It sneaks in with the rest of […]
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The Biden administration on Wednesday proposed ambitious auto emissions rules that could significantly change the kinds of cars and trucks on sale in the United States — but not right away. The regulations, if carried out, will effectively require automakers to replace fossil fuel cars with electric vehicles starting with cars for the 2027 model […]
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The Biden administration’s plan to accelerate the adoption of electric vehicles — reaching a two-thirds share of new cars in less than a decade — pushes automakers further in a direction they have already been going. But meeting the new timetable will be a challenge. Most car companies are convinced that a transition to electric […]
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NASHVILLE — Jacqueline Acevedo is a shy seventh grader who spends long hours at the Baptist church where her father serves as a volunteer pastor after earning a scant wage from his day job selling bread. Gabriel Garcia is a talkative 10-year-old whose mother is a chemist but drives for Uber and whose father squeezes […]
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Despite federal and state programs to convert corn into ethanol and soybeans into biodiesel to fuel cars and trucks, the United States has never before regarded farming as a primary energy producer. That changed when Congress in August passed the climate provisions of the Inflation Reduction Act, which provides $140 billion in tax incentives, loans […]
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The Biden administration on Friday released new rules that will significantly shorten the list of electric vehicles that qualify for federal tax credits. Officials hope the change will push carmakers to move their supply chains out of China and to the United States or its allies. The rules, issued by the Treasury Department, are a […]
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If we apply the legal scholar John A. Powell’s “targeted universalism” approach to eradicating poverty — an approach that involves setting a goal and recognizing that certain groups will need distinctive interventions for that goal to be met — then our attitude toward different antipoverty policies should be “both and.” We don’t need new solutions […]
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WASHINGTON — President Biden and Ursula von der Leyen, the president of the European Commission, opened negotiations on Friday over the critical minerals used in electric vehicles amid concerns of a potential trade war triggered by the Biden administration’s signature clean energy legislation. The recent tensions with European allies center on provisions in the legislation […]
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WASHINGTON — President Biden on Thursday proposed a $6.8 trillion budget that seeks to increase spending on the military and a wide range of new social programs while also reducing future budget deficits, defying Republican calls to scale back government and reasserting his economic vision before an expected re-election campaign. The budget contains some $5 […]
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This is not just the doing of the I.R.A. To a degree hardly anyone but wonks really appreciates, green energy in the United States was a heavily red-state phenomenon before the legislation even hit Mr. Biden’s desk in August. Already, Texas produces more renewable energy than anywhere else in the country — in fact, almost […]
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The federal government, aiming for half of all vehicles sold to be zero-emissions by 2030, has allocated $7.5 billion to installing public chargers nationwide over five years, including in the tristate area. But Brandt Hastings, Volta’s chief commercial officer, says that the region still has fewer public chargers per electric vehicle than the national average […]
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In 2010, at the signing ceremony for the Affordable Care Act, Joe Biden, the vice president at the time, could be overheard telling President Barack Obama that “this is a big something deal.” OK, that’s almost what he said. And he was right. Now, as president himself, Biden has presided over three big deals. After […]
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President Biden’s most significant failure during his first two years in office is the lack of progress on the truly domestic portion of his domestic agenda. Earlier in the pandemic, the federal government did more to help parents than it had ever done before. Washington temporarily mandated paid leave for many workers, it gave billions […]
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WASHINGTON — More than 20 state governments, flush with cash from federal stimulus funds and a rebounding economy, shared their windfalls last year by sending residents one-time payments. This year, the Biden administration added a sweetener, telling tens of millions taxpayers they did not need to pay federal taxes on those payments. That decision by […]
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What did the I.R.S. do with savings and tax brackets limits to ease the sting of inflation? When a dollar buys less than it used to, the I.R.S. lets you put more of it away — if you can afford to, at least. In 2023, the maximum amount of money you can save in most […]
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If you haven’t put money into an individual retirement account for 2022, do it before the April deadline. That’s a standard tax tip for investors this time of year. And it does make sense to stash as much money as you can manage in tax-sheltered accounts of one variety or another. The Internal Revenue Service […]
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