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The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go into them. Some officials, industry experts and others concerned about climate change uneasy supply of battery materials will not keep pace with demand. The Bipartisan Infrastructure Law assigned $6 billion in total funding for battery material processing and manufacturing. An initial round went to 15 projects including companies that mine critical minerals like graphite and nickel, used in lithium batteries. Tom Moerenhout, a professor at Columbia University's Center on Global Energy Policy, said it will be a big challenge to ramp up the global supply of critical minerals for the projected battery demand in 2030.

Persons: Harris, Jodie Lutkenhaus, “ I’m, ”, ” Lutkenhaus, Matthew McDowell, Tom Moerenhout, “, Moerenhout Organizations: Energy Department, DOE, Biden, Texas, M University, Infrastructure Law, Georgia Institute of Technology, Columbia University's Center, Global Energy, Companies, ____, AP Locations: Asia, Albemarle, Kings Mountain , North Carolina, U.S

☆ A boomer on short-term disability isn't required to make student-loan payments right now. Her servicer took out $200 from her bank anyway.
▼ + stars: | 2023-11-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Amy, 59, is not required to make any student loan payments while pursuing her teaching certificate. It comes as the Education Department is working to strengthen oversight over servicers. AdvertisementAdvertisementWhile federal student-loan payments resumed for most borrowers in October, Amy, 59, knew she was not expected to make any payments. "But that's not the case with student loans. "It's ridiculous these companies get contracts for federal student loans," Amy said.

Persons: Amy, servicer, —, MOHELA, Joe Biden's, servicers, Amy —, she's, that's, it's, Harris, Education Miguel Cardona Organizations: Education Department, Service, Joe Biden's Education Department, The Education Department, Aid, Biden, Harris Administration, Education

☆ Pope removes outspoken conservative Texas Bishop Joseph E. Strickland after investigation
▼ + stars: | 2023-11-11 | by ( Raja Razek | ) edition.cnn.com time to read: +3 min

CNN —Pope Francis has removed a Texas bishop from his position after an investigation ordered by the Vatican. “The recommendation was made to the Holy Father that the continuation in office of Bishop Strickland was not feasible,” reads the statement. “After months of careful consideration by the Dicastery for Bishops and the Holy Father, the decision was reached that the resignation of Bishop Strickland should be requested. Having been presented with that request on November 9, 2023, Bishop Strickland declined to resign from office.”“Thereafter, on November 11, 2023, the Holy Father removed Bishop Strickland from the Office of Bishop of Tyler,” he added. Bishop Joe Vásquez of Austin has been appointed “apostolic administrator” of the Tyler diocese, according to the Archdiocese’s statement announcing Strickland’s removal.

Persons: Pope Francis, Pope, Bishop Joseph E, Strickland, Cardinal Daniel Nicholas DiNardo, ”, Bishop Dennis Sullivan, Gerald Kicanas, Francis, Joe Biden, Harris, ” Strickland, DiNardo, Tyler, Bishop Strickland, “, ” “, Bishop Joe Vásquez Organizations: CNN, Vatican, National Catholic, US Conference of Catholic Bishops, Biden, Bishops, Catholic Locations: Texas, Tyler , Texas, Metropolitan, Galveston, Houston, Tyler, Camden, Tucson, Austin

☆ Student-loan borrowers facing bad customer service could be transferred to a 'high-performing' company if issues persist, Biden's Education Department says
▼ + stars: | 2023-11-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department released new guidance on holding student-loan servicers accountable. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementPresident Joe Biden's Education Department just warned student-loan companies that they can't keep getting away with bad behavior. On Thursday, the Education Department announced a new framework for holding services accountable as the transition back into repayment for millions of borrowers continues. The framework outlines how the department will monitor the quality of customer service borrowers are receiving from their servicers, along with punishments when servicers do not fulfill their contractual obligations.

Persons: servicers, —, Joe Biden's, Harris, Education Miguel Cardona Organizations: Education Department, Service, Joe Biden's Education, Biden, Harris Administration, Education, MOHELA Locations: servicers

You may have heard recently about The New York Times, Siena poll that has worried Democrats, the one about the battleground states. I’m a pollster focused on understanding young Americans, and there’s a critical part of the electorate that we need to be paying attention to, and that’s Gen Z. But I mean, honestly, to this point, I mean, they haven’t done anything for our parents, our parents’ parents. Young people need to be reminded of those issues. They need to be reminded that because of them, America is a different and, I would argue, a better place.

Persons: John Della Volpe, I’ve, Joe Biden, Donald Trump, Cornel West, Robert F, Kennedy, Jr, Biden, Harris, There’s Organizations: Institute of Politics, Harvard Kennedy School, New York Times, Democratic Party, Quinnipiac, Cornel, Democrat, White, Biden Locations: Harvard, —, Siena, I’m, America

☆ Biden's Education Department reveals the 4 groups of student-loan borrowers it's prioritizing for its second attempt at debt relief
▼ + stars: | 2023-10-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Education Department released the draft text of its second attempt at student-debt relief. AdvertisementAdvertisementPresident Joe Biden's Education Department just released the latest details on its second attempt at student-loan forgiveness. On Monday, the department released the draft text of its proposal to cancel student debt for federal borrowers using the Higher Education Act of 1965. The high court ruled Biden did not have the authority to cancel student debt broadly using that law. AdvertisementAdvertisementA senior department official also told reporters that the amount of student debt canceled could vary by each group.

Persons: —, Joe Biden's, Biden, Harris, Miguel Cardona, Education James Kvaal, Tamy Abernathy, it's, Ashley Pizzuti Organizations: Education Department, Service, Joe Biden's Education Department, Higher, Education

☆ The bill to arm Israel and Ukraine could be the last great fight of Biden's political life
▼ + stars: | 2023-10-20 | by ( Walt Hickey | ) www.businessinsider.com time to read: +8 min

Biden has little chance of passing ambitious legislation given the state of Congress, and faces a tough election. After decades of service in Washington, much of it on the Senate Foreign Relations Committee, Israel and Ukraine will define his legacy. In this July 13, 1982, file photo Secretary of State designate George Shultz, right, speaks with members of the Senate Foreign Relations Committee. AP Photo/Ira Schwarz, FileBiden's legacy was already strongly linked to foreign policy. If there is a bipartisan coalition that exists within the US Congress, Israel policy and Ukraine policy might very well be it.

Persons: Biden, —, Joe Biden, he'll, there's, George Shultz, Sen, Joseph Biden, Charles Percy, Edward Zorinsky, Ira Schwarz, Madeline Albright's, he'd, Vladimir Putin, Kevin McCarthy, J, Scott Applewhite, he's, Bob Menendez, it's, Susan Walsh, That's, what's, Benjamin Netanyahu, Miriam Alster, Obama, Harris Organizations: Senate Foreign Relations Committee, Service, Senate Foreign Relations, AP, Senate Foreign, State, Senate, Capitol, Republican, Democratic, Republicans, GOP, White House, Israeli, Hamas, Biden, Ukraine Locations: Washington, Israel, Ukraine, Eastern Europe, Russia, Arizona, United States, Republican, Democratic, Tel Aviv

☆ About 4 Million Americans Got Their Updated COVID Vaccines in Sept
▼ + stars: | 2023-10-04 | by ( Oct. | At P.M. | ) www.usnews.com time to read: 1 min

(Reuters) - Around 4 million Americans received the updated COVID-19 vaccines in September, according to a spokesperson for the U.S. Department of Health and Human Services, even as some have found it difficult to book appointments or pay for the vaccines. "The Biden-Harris Administration, through HHS, has been working directly with manufacturers and distributors to ensure that the vaccines are getting to pharmacies, hospitals, clinics, and other vaccination sites, including long-term care facilities as quickly as possible," the spokesperson said in an emailed statement.

Persons: Harris Organizations: Reuters, U.S . Department of Health, Human Services, Biden, Harris Administration, HHS

☆ About 4 mln Americans got their updated COVID vaccines in Sept.
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: 1 min

[1/2] An exterior view of the United States Health and Human Services Building on C Street Soutwest in Washington, U.S., July 29, 2019. REUTERS/Tom Brenner/File Photo Acquire Licensing RightsOct 4 (Reuters) - Around 4 million Americans received the updated COVID-19 vaccines in September, according to a spokesperson for the U.S. Department of Health and Human Services, even as some have found it difficult to book appointments or pay for the vaccines. "The Biden-Harris Administration, through HHS, has been working directly with manufacturers and distributors to ensure that the vaccines are getting to pharmacies, hospitals, clinics, and other vaccination sites, including long-term care facilities as quickly as possible," the spokesperson said in an emailed statement. Reporting by Michael ErmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Tom Brenner, Harris, Michael Erman Organizations: United States Health, Human, REUTERS, U.S . Department of Health, Human Services, Biden, Harris Administration, HHS, Thomson Locations: Washington , U.S

☆ 125,000 student-loan borrowers are getting $9 billion in debt wiped out through a series of Biden's repayment reforms
▼ + stars: | 2023-10-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department announced $9 billion in student-debt relief for 125,000 borrowers. It impacts borrowers in public service, on income-driven plans, and those with total and permanent disabilities. AdvertisementAdvertisementPresident Joe Biden's Education Department just announced its latest batch of student-debt relief for targeted groups of borrowers. On Wednesday, the department announced that it has approved $9 billion in debt cancellation for 125,000 borrowers. That included a one-time account adjustment for borrowers on income-driven repayment plans and PSLF — most recently, the department announced it had approved relief for 804,000 borrowers on income-driven repayment.

Persons: —, Joe Biden's, Biden, Miguel Cardona, Harris, It's, they're, Education James Kvaal, he's Organizations: Education Department, Service, Joe Biden's Education Department, Public, Social Security Administration, Biden, Education

☆ The Biden administration is negotiating lower prices for 10 medications with drug manufacturers
▼ + stars: | 2023-10-04 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

AdvertisementAdvertisementThe Biden administration announced Tuesday it is beginning talks with drug makers behind 10 expensive medications to lower prices for recipients of Medicare, the national health insurance program for older Americans and people with disability status. The negotiations are expected to last until 2024, with the lower prices expected to go into effect in 2026. The Congressional Budget Office "estimated that price negotiation will lower average drug prices paid by Medicare and will reduce the budget deficit by $25 billion in 2031." "Negotiating provides us a critical tool to ensure they get those prescription drugs at lower prices – just as the U.S. Department of Veterans Affairs has done for years." AdvertisementAdvertisementThe Biden administration has recently taken aim at high drug prices and high profits at pharmaceutical companies.

Persons: —, Biden, Juliette Cubanski, Harris, Xavier Becerra, Jardiance, Eli Lilly Organizations: Service, Congressional, Medicare, Biden, Harris Administration, Human Services, U.S . Department of Veterans Affairs, HHS, Centers, Services

The Biden administration is moving forward with a new path to provide large-scale student loan debt cancellation in the wake of a Supreme Court ruling this summer that struck down President Joe Biden’s controversial debt relief plan. The Education Department announced Friday that it’s set to begin the formal regulatory process in October to provide debt cancellation for potentially five groups of student loan borrowers – a lengthy process that involves a panel of negotiators who will meet over several months to try to reach a consensus. “The Biden-Harris Administration has taken unprecedented action to fix the broken student loan system and deliver record amounts of student debt relief,” Education Secretary Miguel Cardona said in a statement. “Now, we are diligently moving through the regulatory process to advance debt relief for even more borrowers. “We will also listen to the ideas brought forward by the negotiators.”Notably, the announcement comes as student loan payments are scheduled to restart on Oct.1 for the first time since they were paused at the outset of the COVID-19 pandemic.

Persons: Biden, Joe Biden’s, –, “ The, Harris, Miguel Cardona, “, James Kvaal, ”, Biden’s Organizations: Education Department, “ The Biden, Harris Administration, Department, Higher, Biden

☆ Biden's Education Department is taking the next step to get broad student-loan forgiveness to millions of borrowers. Here's what you need to know.
▼ + stars: | 2023-09-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Education Department announced it's moving forward with the broad student-debt relief process. AdvertisementAdvertisementPresident Joe Biden's Education Department just took the next step on its second attempt to get broad student-debt relief to millions of borrowers. On Friday, the Education Department released a paper outlining what it is considering as it develops its new plan for broad student-loan forgiveness. AdvertisementAdvertisement"The Biden-Harris Administration has taken unprecedented action to fix the broken student loan system and deliver record amounts of student debt relief," Education Secretary Miguel Cardona said in a statement. "Now, we are diligently moving through the regulatory process to advance debt relief for even more borrowers.

Persons: —, Joe Biden's, Harris, Miguel Cardona, I'm Organizations: Education Department, Service, Joe Biden's Education Department, Higher, Biden, Harris Administration, Black Colleges, Universities

NEW YORK (AP) — Karin Engstrom thought she’d be paying off her federal student loans for the rest of her life. It also credits borrowers for periods before the pandemic when they were allowed to pause or reduce payments due to financial hardships. “Info: Your student loans have been forgiven,” the letter read. Borrowers who have made 20 or 25 years of qualifying payments (depending on the repayment plan) qualify, if they hold direct loans or Federal Family Education Loans with the Education Department, including borrowers with Parent PLUS loans. The official Federal Student Aid guide to the Income Driven Repayment adjustment is a good resource for updates.

Persons: — Karin Engstrom, she’d, Biden, It's, servicers, Engstrom didn't, Harris, ” Engstrom, ” Patricia Vener, Saavedra, “, ”, who's, “ He's, Vener, Charles Schwab Organizations: Department of Education, Federal, Aid, Harris Administration, Edfinancial Services, WHO, Family, Education Department, Parent, WHAT, IF, of Education, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Hamden , Connecticut

☆ Biden administration moves ahead with new plan to cancel student debt
▼ + stars: | 2023-09-29 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

The Biden administration announced on Friday the next step in its new plan to cancel people's student debt after the Supreme Court struck down its original policy in June. The U.S. Department of Education released its initial agenda of policy considerations for its second attempt at delivering Americans student loan relief. It also shared a list of individuals who will serve on the "Student Loan Debt Relief Committee," including Wisdom Cole at the NAACP, Kyra Taylor at the National Consumer Law Center and several student loan borrowers. Its original plan was broader, only cutting out student loan borrowers who earned more than $125,000 as individuals or $250,000 as couples. "The Biden-Harris Administration has taken unprecedented action to fix the broken student loan system and deliver record amounts of student debt relief," U.S. Secretary of Education Miguel Cardona said in a statement.

Persons: Wisdom Cole, Kyra Taylor, Biden, Harris, Education Miguel Cardona Organizations: Biden, U.S . Department of Education, Debt Relief, NAACP, National Consumer Law Center, Finance, Harris Administration, Education

The five-year plan includes proposed sales in the Gulf of Mexico — the nation’s primary offshore source of oil and gas — in 2025, 2027 and 2029. The three lease sales are the minimum number the Democratic administration could legally offer if it wants to continue expanding offshore wind development. The lease program will guard against environmental damage caused by oil and gas drilling and other adverse impacts to coastal communities, Haaland said. “The (oil leasing) program is definitely informed by the IRA and the connection that the IRA makes between offshore oil and gas leasing and renewable energy leasing,” he said Thursday, referring to the Inflation Reduction Act. The Interior Department can’t sell the rights to drill for oil and gas offshore without first publishing a schedule that outlines its plans.

Persons: Joe Biden's, Biden, Democratic Sen, Joe Manchin, Manchin, Harris, Deb Haaland, ”, Haaland, “, Biden's, Ryan Lance, Willow, Dyani Chapman, Tommy Beaudreau, Interior Department can’t, Rene Santos, Santos, Beth Lowell, Abigail Dillen, Sen, Dan Sullivan, ___ Brown, Becky Bohrer Organizations: WASHINGTON, Democratic, Biden, Interior Department, Interior Department’s, of Ocean Energy Management, drillers, BP, ExxonMobil, ConocoPhillips, Alaska Environment, Interior, P, Gulf, American Petroleum Institute, Chevron, Associated Press Locations: Gulf of Mexico, Alaska, Gulf, Mexico, West Virginia, Chevron, Brazil, Guyana, Louisiana, Oceana, Gulf Coast, Billings, Mont, Juneau , Alaska

☆ UBS thinks this beaten-down electric vehicle charging stock can bounce back and rally more than 85%
▼ + stars: | 2023-09-27 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Electric-vehicle charging stations provider ChargePoint could make a massive recovery, according to UBS. He assigned a price target of $9, implying shares could gain 85.6% from Tuesday's closing price. UBS said the worsened sentiment around ChargePoint has created an "attractive risk/reward" profile for investors. The company has 33,000 charging stations, UBS noted. "This charging type leverages dwell times of cars and are therefore deployed in settings where EVs will be parked for several hours."

Persons: Robert Jamieson, ChargePoint, Jamieson, Harris, — CNBC's Michael Bloom Organizations: UBS, EV, Biden Locations: United States

Twelve manufacturers that employ hundreds of people in seven states have been awarded funding and will produce 200 million over-the-counter tests to replenish federal stockpiles for government use, in addition to producing enough tests to meet demand for tests ordered online, the department said. Federal officials said that will help guard against supply chain issues that sparked some shortages of at-home COVID tests made overseas during past surges in coronavirus cases. Political Cartoons View All 1171 ImagesThe tests are designed to detect COVID variants currently circulating, and are intended for use by the end of the year. Postal Service provided more than 755 million tests for free to homes nationwide. O’Connell said manufacturers would be able to spread out the 200 million tests they will produce for federal use over 18 months.

Persons: —, Dawn O’Connell, ” O'Connell, Grandma, O’Connell, “ We’ve, COVID’s, O'Connell, there’s, “ we’re, “, Xavier Becerra, Biden, Harris, Becerra Organizations: WASHINGTON, Biden, of Health, Human Services, United States Postal Service, Federal, HHS, U.S . Postal Service, Harris Administration Locations: U.S

☆ Gavin Newsom says Kamala Harris is 'absolutely' the best running mate for Biden, calling the Democratic ticket a 'master class in terms of performance'
▼ + stars: | 2023-09-19 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Gavin Newsom on Monday praised Kamala Harris as "absolutely" the best running mate for Biden. The outspoken California governor is widely seen as a future Democratic presidential contender. Gavin Newsom on Monday gave a full-throated endorsement of the Democratic presidential ticket, arguing that Vice President Kamala Harris was "absolutely" the best running mate for President Joe Biden next year. When asked by CNN's Dana Bash whether Harris was the "best person to be on the ticket" with the president, Newsom was unequivocal in his support for his fellow Californian. "Biden-Harris administration, master class in terms of performance — bipartisan deals on infrastructure, bipartisan deals on guns and debt ceiling, on the CHIPS and Science Act."

Persons: Gavin Newsom, Kamala Harris, Biden, Newsom, Joe Biden, CNN's Dana Bash, Harris, she'd, —, who's Organizations: CNN, Democratic, Service, San Francisco, The Associated Press, NORC, for Public Affairs Research, Associated Press, Fox News Locations: California, Wall, Silicon, San, San Francisco

☆ Business owners of color seeking SBA loans now have to write an essay proving their race is a 'social disadvantage' after a judge ruled it isn't enough
▼ + stars: | 2023-09-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

In July, a federal judge ruled business owners cannot say their race is a disadvantage to receive funding. It challenged the SBA's 8(a) program, which awards money to socially disadvantaged businesses each year. Now, business owners have to write an essay proving why their identity has been the basis of discrimination. The judge's decision struck down a key provision of that program, saying that business owners could no longer say their race is the reason they have faced disadvantage in America. This ruling prompted the SBA to change the process for small business owners to receive funds though the 8(a) program.

Persons: Edward Blum, Joe Biden's, Isabella Guzman, Harris Organizations: Service, SBA, Biden, Harris Administration Locations: Wall, Silicon, Tennessee, America

☆ 2,300 student-loan borrowers are getting $72 million in debt wiped out after being 'cheated' by their school, Biden's Education Department says
▼ + stars: | 2023-08-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Education Department announced $72 million in student-debt relief for 2,300 borrowers. On Wednesday, President Joe Biden's Education Department, along with California Attorney General Rob Bonta, announced it was canceling $72 million in student debt for 2,300 borrowers who it said were "cheated" by Ashford University, an online for-profit school based in San Diego. In 2022, a judge ruled that Ashford made 1.2 million misrepresentations to students and faced a civil penalty of $22.3 million. I want to thank the Biden-Harris Administration for changing the lives of thousands of former Ashford students today. Since Biden took office, his Education Department has taken a number of steps to provide debt relief to targeted groups.

Persons: Joe Biden's, Rob Bonta, Bonta, Harris, Ashford, Biden Organizations: Education Department, Ashford University, Service, Joe Biden's Education Department, California Department of Justice, Ashford, Biden, Harris Administration, Department Locations: Wall, Silicon, California, San Diego, Ashford, Zovio, Colorado, CollegeAmerica

☆ Biden's Education Department is taking the next step to get broad student-loan forgiveness to millions of borrowers
▼ + stars: | 2023-08-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department announced its latest step in the broad student-debt relief process. After the Supreme Court struck down Biden's first plan to cancel student debt broadly for borrowers using the HEROES Act of 2003, his Education Department announced it would be attempting relief using a different law: the Higher Education Act of 1965. "When the Supreme Court ruled against the Biden-Harris Administration's student debt relief plan, we did not waste a moment opening up a new pathway to debt relief," Education Secretary Miguel Cardona said in a statement. Since borrowers will not be entering repayment with broad relief, the department also announced a 12-month "on-ramp" period during which missed payments will not be reported to credit agencies, but interest will still accrue during that time. However, while the department is moving forward with the broad debt relief process, its future is uncertain due to conservative opposition — and potential legal challenges that could once again halt relief for borrowers.

Persons: Joe Biden, Harris, Miguel Cardona Organizations: Education Department, Service, Higher, Biden, Loan, Black Colleges, Universities, Federal Family Education Locations: Wall, Silicon

☆ A couple with over $250,000 in student debt finally got their balance wiped out after nearly 3 decades of repayment: 'This is life-altering for us'
▼ + stars: | 2023-08-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

"I fully expect this debt will follow me to the grave," Ron Rizzardi told Insider in 2021. AdvertisementAdvertisementRon and Marcia Rizzardi just got their student-loan balance forgiven. "It's a little unbelievable — surreal, maybe," Ron Rizzardi told Insider after he received that letter. AdvertisementAdvertisementFor the Rizzardis, their chapter of student-loan repayment is now closed. "I had just gotten back from a meeting, and I sat down, and I just got into the habit of looking at my servicer's account every day," Ron Rizzardi said.

Persons: Ron, Marcia Rizzardi, Ron Rizzardi, Harris, we'll, it's, I've, Joe Biden's, We've, We'd, It's, —, servicers Organizations: Service, Harris Administration, Students, Education Department Locations: Wall, Silicon

☆ Where student-loan forgiveness now stands for millions of borrowers one year after Biden announced his broad debt relief plan
▼ + stars: | 2023-08-24 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Since then, it faced legal hurdles, and the Supreme Court struck the relief down in June. Since he took office, his administration was weighing its options to get relief to borrowers, and Biden himself even questioned his authority to enact broad debt relief. About a month after the debt relief announcement, applications opened for federal borrowers to apply for an up to $20,000 reduction to their balances. It did go all the way to the Supreme Court and was deemed ineligible. Even with the Supreme Court ruling, Biden's administration has started implementing other reforms for borrowers, along with a new process for broad student-loan forgiveness using a different law.

Persons: Biden, Joe Biden's, Miguel Cardona, Harris, Biden's, it's, Joe Biden, Demetrius Freeman, Bharat Ramamurti, Chuck Schumer Organizations: Service, Biden, Social, Education Department, Republican, Supreme, Here's, White, Washington, Getty, Higher, National Economic Council Locations: Wall, Silicon

☆ Inflation Reduction Act spurs $500 billion in investments — and much is going to underserved communities, Treasury says
▼ + stars: | 2023-08-16 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — The Treasury Department on Wednesday announced that billions of dollars slated for investments in clean energy, electric vehicles and batteries under the Inflation Reduction Act will go to relatively underserved communities throughout the country. The announcement comes as the IRA, the Biden administration's landmark law targeting manufacturing, infrastructure and climate change, turns one year old. The more than $500 billion in announced investments, $200 billion of which is in the clean energy sector, is a key goal of the legislation, according to the Treasury. A senior Treasury official told reporters on Wednesday that the agency is also seeing meaningful private investment in the efforts. He also contended it would benefit the Chinese Communist Party, as the U.S. relies on Chinese imports of key inputs for clean energy technology.

Persons: Sean Patrick Maloney, WASHINGTON —, Janet Yellen's, Harris administration's, Joe Biden's, Biden, Jason Smith, Smith Organizations: WASHINGTON, Treasury Department, Wednesday, Biden, Treasury, Chinese Communist Party Locations: Cold, , New York, U.S, China

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