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☆ The jobs most vulnerable under the next Trump administration
▼ + stars: | 2024-12-09 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

New York CNN —President-elect Donald Trump campaigned on the promise to create more American jobs and protect existing ones. For example, higher tariffs could help boost American manufacturing jobs if more businesses decide they want their goods made domestically to avoid the added cost of importing. That’s because, in response to being subjected to higher tariffs, impacted nations would likely impose comparable tariffs on American goods, he said. That could significantly raise American businesses’ costs while also reducing demand for their goods. Many American companies experienced this during Trump’s first term as China responded with tit-for-tat tariffs on American imports.

Persons: Donald Trump, Vance, Trump, Harry Holzer, Holzer, Elon Musk, Vivek Ramaswamy, ” Musk, Ramaswamy, Biden, ”, Tesla, Giacomo Santangelo, it’s, ” Santangelo Organizations: New, New York CNN, Trump, CNN, White House, Georgetown University, Brookings Institution, Department of Labor, Federal, Government, Justice Department, Education Department, Biden, Department of Energy, DOE, Federal Reserve Locations: New York, China

☆ What are Social Security's trust funds? New debate emerges on program's financing
▼ + stars: | 2024-12-05 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Richard Stephen | Istock | Getty ImagesWhat are Social Security's trust funds? Social Security's trust funds prompt headlines each year when Social Security's trustees release their annual report on the program's financial outlook. Lee is not the first politician to question Social Security's trust fund structure. In his post on X, Lee said: "the government routinely raids" Social Security's trust fund. During a July 2023 Senate hearing on protecting Social Security, Sen. Ron Johnson, R-Wisconsin, describes the program's trust funds as a "four-drawer file."

Persons: Richard Stephen, Istock, Blahous, George W, Bush, Bonds, Susan Chapman, Luke Frazza, —, Lee, Sen, Ron Johnson, Johnson, Stephen Goss, actuary, Andrew Biggs, Biggs, Nancy Altman, Altman, Jason Fichtner Organizations: Social, Research Service, Social Security Administration, Treasury, U.S ., Federal Investments, of Public, Afp, Getty, Social Security, American Enterprise Institute, Vanguard, Congressional Research Service, Center, U.S Locations: Parkersburg , West Virginia, Wisconsin, China

☆ Evercore ISI names stocks that could win under either Trump or Harris win
▼ + stars: | 2024-10-30 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

The outcome of this year's presidential election could bode well for different parts of the stock market, according to Evercore ISI. "Trump will be positive for US-only retailers (which have higher tax rates vs retailers with int'l exposure)," Evercore ISI said. Under a Harris win, these stocks could benefit, per Evercore ISI: Evercore ISI forecasts Harris winners to be renewable energy and EV companies, as that administration is expected to maintain the Inflation Reduction Act and other clean energy policies. Discount retailers such as Burlington and Ross Stores are another likely beneficiary of a Democratic win, according to Evercore ISI. A slew of tech companies, namely Apple , Dell and Hewlett Packard Enterprise , could fare well with a Harris win given the risk of lower tariffs.

Persons: bode, Kamala Harris, Donald Trump, Emanuel, Halliburton, Trump, ULTA, Dave Kimbell, Tesla, Elon Musk's, Harris, BURL, LSEG, Ross, Biden Organizations: ISI, Democratic, Republican, NBC, Trump, Halliburton, Exxon Mobil, Exxon, Care, NextEra, Harris . Discount, Ross Stores, Burlington, Apple, Dell, Hewlett Packard Enterprise, Palo Alto Networks Locations: U.S, China, Burlington

☆ Georgia is rich in EV money and jobs
▼ + stars: | 2024-09-18 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Since 2022, the Peach State has added over 30,000 clean energy jobs, more than any other state, according to a June study by Climate Power, a strategic communications firm. The Bipartisan Infrastructure Law allocated over $175 million toward the EV battery supply chain in Georgia and $135 million over five years toward infrastructure for EV charging stations in Georgia. Investments in EV and battery manufacturing will boost job growth and output in both of these sectors, Benson said. Strong population growth remains a tailwind for Georgia's economic growth and EV industry, Benson said. Between 2021 and 2022, there were 327,795 people who moved into Georgia, according to data from the Census Bureau.

Persons: —, Wells, Jackie Benson, Brian Kemp, It's, Biden, Benson Organizations: Service, Business, Peach State, Climate Power, Investments, Atlanta -, EV, Atlas Public, Environmental Defense Fund, Biden Administration, Law, Infrastructure Law, Hyundai, Kia, The Peach State Locations: Georgia, Wells, Atlanta, Georgia , Alabama, North Carolina, South Carolina, Tennessee, Michigan, West Point , Georgia, Wells Fargo, Florida , Texas , California, California, Texas

☆ Bidenomics: The Queen Bee Is Jennifer Harris - The New York Times
▼ + stars: | 2024-06-17 | by ( Farah Stockman | ) www.nytimes.com time to read: +2 min

Our host, Jennifer Harris, gave a speech about how economic ideas change to meet the needs of a new era. In a room full of V.I.P.s, she was the Queen Bee. I was thrilled when the Biden administration came in with a plan for big federal investments in the American industrial base, tariffs, support for labor unions and actions against monopolies. To understand who Ms. Harris is, you have to know who she used to be. For years, she felt like an oddball in Washington, where both parties were still in thrall to neoliberalism.

Persons: I’ve, Jennifer Harris, Queen Bee, I’d, Harris, Trump, —, Biden, thrall Organizations: Biden, steelworkers, Department Locations: San Francisco Bay, Washington, Indiana, Mexico, China, United States

☆ Federal Money Is All Over Milwaukee. Biden Hopes Voters Will Notice.
▼ + stars: | 2024-05-01 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

Across Milwaukee, residents can see evidence of federal money from laws passed under the Biden administration, if they know where to look. It shows up in a growing array of solar panels near the airport. Some money has yet to be spent, like $3.5 million to rebuild the penguin exhibit at the local zoo and $5.1 million to repair the roof of Milwaukee Mitchell International Airport. That presents both an opportunity and a challenge to Mr. Biden’s re-election campaign as it seeks to show Americans how federal investments have improved their lives. Doing so is difficult because the laws delegated many spending decisions to state and local officials, obscuring the money’s source.

Persons: Biden, Biden’s Organizations: H.I.V, Milwaukee County, American, Infrastructure Law, Milwaukee Mitchell International Locations: Milwaukee

☆ What kind of 'Barbie' are you? Here are the Barbieland jobs that most real-life women hold, according to government data
▼ + stars: | 2024-03-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

In the "Barbie" movie, the narrator says, "Barbie has a great day every day." As women's participation in the labor force has increased over the years, the group continues to face hurdles along the way. "We have the tightest labor market for women in the past 20-something years," Bustamante said. "As the labor market gets tighter and tighter and tighter, women's employment rises faster than men's," Pollak said. "To think of just the scale of construction employment and women are still such a marginal piece of that sector," he said.

Persons: Margot Robbie, Barbie, Julia Pollak, R, Bustamante, Pollak, " Pollak Organizations: Mattel, Warner Bros, U.S . Bureau of Labor Statistics, Roosevelt Institute, Census, National Women's Law, Warner Brothers Pictures Locations: New York, U.S

☆ Joe Biden's pre-election spending spree created an 'economy on speed,' economist says
▼ + stars: | 2024-03-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe economy is being artificially boosted by debt-fueled government spending and is heading for trouble bound, a veteran economist warned. The concentration of employment growth in those sectors shows the wider economy is "terribly dependent on government borrowing," Morici said. AdvertisementPoor competitionMorici also downplayed President Biden's declaration during his recent State of the Union speech that the US economy was the "envy of the world." It's widely assumed the Biden administration won't curtail its spending with an election in November, meaning more government jobs are likely to be created in the coming months.

Persons: —, You've, Peter Morici, Morici, he's, it's, Biden's, Biden Organizations: Service, University of Maryland, Fox Business, Business Locations: Russia, Ukraine, Israel, Gaza

☆ White House announces new federal investments in Regional Innovation Engines
▼ + stars: | 2024-01-29 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

4346, the CHIPS and Science Act of 2022, on the South Lawn of the White House in Washington, DC, on August 9, 2022. The Biden administration announced over $150 million in geographically targeted federal investments Monday, part of the National Science Foundation's Regional Innovation Engines program. 10 regional innovation engines will receive funds, and are eligible to receive upwards of $2 billion as part of the program, authorized under the 2022 CHIPS and Science Act. Monday's awardees include a semiconductor innovation engine in Central Florida, an energy transition engine in Louisiana and an advanced agriculture technology engine in North Dakota. This includes more $150 million in federal investment, or $15 million per hub, and another $350 million in matched contributions from non-federal partners.

Persons: Joe Biden, Biden, Arati Prabhakar, Prabhakar Organizations: White, National Science, NSF, Office of Science, Technology, Commerce Department, The U.S Locations: Washington ,, Central Florida, Louisiana, North Dakota, America

☆ Biden to target Republican Boebert as he talks wind energy in Colorado
▼ + stars: | 2023-11-29 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +2 min

[1/5] U.S. President Joe Biden delivers remarks at CS Wind, the largest wind tower manufacturer in the world, in Pueblo, Colorado, U.S., November 29, 2023. REUTERS/Evelyn Hockstein Acquire Licensing RightsDENVER, Nov 29 (Reuters) - President Joe Biden will tout his economic and clean energy policies on Wednesday in Colorado while taking on right-wing Republican U.S. lawmaker Lauren Boebert, a close ally of former President Donald Trump. Biden, who blamed Trump at a fundraising event in Denver on Tuesday for taking away women's right to an abortion, will visit a wind tower manufacturer in Pueblo, part of Boebert's congressional district. Biden, a Democrat running for reelection next year, has presided over a stronger-than-expected U.S. economy and big federal investments in infrastructure and clean energy, but the clean energy industry is now struggling with high costs. At the wind tower manufacturer, Biden will speak about clean energy investments and "highlight how self-described MAGA Republicans like Representative Lauren Boebert are threatening those investments, jobs, and opportunities," the White House said.

Persons: Joe Biden, Evelyn Hockstein, Lauren Boebert, Donald Trump, Biden, Trump, MAGA, Democrat Adam Frisch, Boebert, Jeff Mason, Heather Timmons, Jonathan Oatis Organizations: CS, REUTERS, Rights DENVER, Republican U.S, Biden, Democrat, Trump, Republican, White House, MAGA Republican, U.S, Capitol, MAGA Republicans, White, Reuters, Thomson Locations: Pueblo , Colorado, U.S, Colorado, Denver, Pueblo, Boebert's

WASHINGTON (AP) — President Joe Biden — perhaps the nation's biggest Amtrak fan — is set to promote new federal investments for trains on the heavily trafficked Northeast Corridor. The Democratic president is headed to Bear, Delaware, on Monday to announce more than $16 billion in new funding that will go toward 25 passenger rail projects between Boston and Washington, the White House says. His remarks will be held at the Amtrak Bear Maintenance Shops, where trains are maintained and repaired. The investments, the White House says, will help trains run faster, cut delays and create union jobs. From the law, Amtrak will get about $66 billion in new investments, according to the White House.

Persons: Joe Biden —, Biden, ” Biden, — Organizations: WASHINGTON, Amtrak, Democratic, Maintenance Locations: Bear , Delaware, Boston, Washington, Wilmington, U.S, Baltimore, United States

For more than a year, the Environmental Protection Agency investigated whether Louisiana officials discriminated against Black residents by putting them at increased cancer risk. As attorney general, Landry fought the EPA’s investigation. Health officials, for example, wanted the unilateral power to decide if and when they had to do the EPA-proposed analysis. The AP reviewed a draft agreement edited by state health officials and sent to EPA in May, reflecting negotiations at the time. It has not reviewed any draft agreement that would show what Louisiana's environmental agency might have been willing to accept.

Persons: Biden, Eric Schaeffer, it’s, Schaeffer, Republican Jeff Landry, Landry, Deena Tumeh, Tumeh, “, ”, ” Tumeh, Kevin Litten, VI, Sharon, Lavigne, James, Michael Regan, It's, Stacey Sublett Halliday, Beveridge, Diamond, ” Sublett Halliday Organizations: Environmental Protection Agency, The Associated Press, EPA’s, Civil, Louisiana, Republican, EPA, Louisiana Department of Environmental, Louisiana Department of Health, Health, AP, Cancer, Associated Press, Walton Family Foundation Locations: Louisiana, chloroprene, St

☆ Energy Dept. Announces $12 Billion to Help Factories Convert to Electric Cars
▼ + stars: | 2023-08-31 | by ( Coral Davenport | More About Coral Davenport | ) www.nytimes.com time to read: +1 min

The Energy Department announced on Thursday that it had made $2 billion in grants and $10 billion in loans available to auto companies to convert existing factories that build gas-powered cars and trucks into plants that produce hybrid and electric vehicles. The money, provided under the 2022 Inflation Reduction Act, is aimed at maintaining jobs in communities that have been defined by the auto industry. It comes as President Biden is seeking the endorsement of the United Auto Workers union, which has expressed concern over recent decisions by carmakers to ramp up electric vehicle manufacturing, which requires fewer workers, and to locate new factories in states without unionized labor. As part of his climate agenda, Mr. Biden is combining federal investments with an aggressive new regulatory proposal to try to ensure that two-thirds of all new cars sold in the United States are all-electric by 2032, up from about 7 percent today. Transportation is responsible for about one-third of the greenhouse gases generated by the United States, pollution that is dangerously heating the planet.

Persons: Biden, Biden’s Organizations: Energy Department, United Auto Workers union, Transportation Locations: United States

☆ US advances $6.88 billion grant for key New York tunnel project
▼ + stars: | 2023-07-06 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, July 6 (Reuters) - The Biden administration advanced a key $6.88 billion grant to help build a long-delayed new railway tunnel between New York City and New Jersey, which would be the largest ever federal transportation grant for a single project. The $17.2 billion Hudson Tunnel Project will repair an existing tunnel and build a new one for passenger railroad Amtrak and state commuter lines between New Jersey and Manhattan. The 112-year-old rail tunnel carries 200,000 passenger trips per day on New Jersey Transit and Amtrak along the Northeast Corridor. In 2010, then-New Jersey Governor Chris Christie pulled state funding for the tunnel project. Amtrak said on Thursday acceptance of the tunnel project into the engineering phase "has been years in the making, and we are thrilled to be even closer to the start of major construction on this critical Gateway Program project."

Persons: Sandy, Chuck Schumer, Cory Booker, Chris Christie, Donald Trump, Schumer, Trump, David Shepardson, Richard Chang Organizations: Biden, Amtrak, Federal Transit, Capital Investment, Gateway Development Commission, Federal Railroad Administration, New Jersey Democratic, New Jersey Transit, Democrats, Thomson Locations: New York City, New Jersey, Manhattan, New York, Washington, New, Jersey, Newark , New Jersey, Boston

☆ Republicans dismiss fears that their debt ceiling bill would make the housing crisis worse for 1 million families as 'scaremongering'
▼ + stars: | 2023-05-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

House Republicans' debt ceiling bill would cut significant funding from federal housing services. HUD Secretary Marcia Fudge said the agency would suffer "the most devastating impacts in HUD's history" if the funding cuts in the bill are made law. He went on, "It's being positioned as congressional Republicans are heartless because they want to pass these spending cuts. "The House bill reduces spending to the levels we had in 2022. The last I checked, 2022 was not a horrid apocalypse sweeping across our country," Cruz told Insider on Wednesday.

☆ Biden administration pushes to revitalize coal communities with clean energy projects
▼ + stars: | 2023-04-04 | by ( Emma Kinery | ) www.cnbc.com time to read: +5 min

The Biden administration is channeling hundreds of millions of dollars from recent legislation into its efforts to turn coal communities into clean energy hubs, the White House said Tuesday. The effort includes $450 million from the Bipartisan Infrastructure Law that the Department of Energy will allocate to an array of new clean energy demonstration projects on former mine lands. Many of the initiatives are made possible through the Bipartisan Infrastructure Law, Chips and Science Act and the Inflation Reduction Act. The administration touted the potential benefits of the Inflation Reduction Act, a bill passed by Democrats to spur clean energy investments last year. The Biden administration said the working group has funneled over $14.1 billion in federal investments into the select communities.

☆ Biden aims billions in taxpayer money at companies' labor, supply practices
▼ + stars: | 2023-03-01 | by ( Andrea Shalal | ) www.reuters.com time to read: +6 min

"What Biden and his advisers are doing is solving problems that exist in the economy. They are pushing forward an agenda aimed at building things in America again ... and taking on corporate power," he said. A Department of Energy provision in the act requires companies to focus on workforce training, ensure diversity and engage "environmental justice" communities in planning. Key provisions on universal child care and better working conditions for child care workers were stripped out of bills last year. Julie Su, just tapped to be labor secretary, launched a campaign against "wage theft" by employers as a labor activist.

☆ Google's ex-CEO Eric Schmidt tapped for federal biotech commission that allows members to keep biotech investments
▼ + stars: | 2023-01-31 | by ( Eamon Javers | ) www.cnbc.com time to read: +7 min

On Dec. 30, leaders of the House and Senate Armed Services committees announced the selection of former Google CEO Eric Schmidt and 11 others to serve on a new federal commission on biotechnology. The appointment, however, doesn't require commission members to divest their own personal biotech investments — even as they help shape U.S. policy overseeing the industry. The person didn't say when Schmidt made the decision to donate profits, adding that he hasn't yet named any recipient charities. The new federal commission will likely have a say in steering such investments over the two years of its lifetime. Schmidt's biotech investments are relatively recent.

☆ With Kevin McCarthy as Speaker, Congress faces a messy debt ceiling fight — and Biden might have to mint a trillion dollar platinum coin
▼ + stars: | 2023-01-09 | by ( Ayelet Sheffey | Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

Those included using the debt ceiling as leverage to slash spending on Democratic priorities like Social Security. These GOP demands could be especially problematic for President Joe Biden as Congress will have to raise the debt ceiling by mid-2023. Importantly, the debt ceiling isn't tied to new spending — it allows the government to pay for what Congress has already appropriated. In 2011, amid another debt ceiling standoff between congressional Republicans and then-President Barack Obama, S&P downgraded the US' credit rating, which top officials at the rating agency said was due to the delay in raising the debt ceiling. Other possibilities include using the 14th Amendment to sidestep the debt ceiling.

☆ The U.S. passed a historic climate deal this year — here's a recap of what's in the bill
▼ + stars: | 2022-12-30 | by ( Emma Newburger | ) www.cnbc.com time to read: +11 min

The IRA's provisions have major implications for clean energy and manufacturing businesses, climate startups and consumers in the coming years. As 2022 comes to a close, here's a look back at the key elements in the legislation that climate and clean energy advocates will be monitoring in 2023. Taking aim at methane gas emissionsSome pumpjacks operate while others stand idle in the Belridge oil field near McKittrick, California. Mario Tama | Getty ImagesThe package imposes a tax on energy producers that exceed a certain level of methane gas emissions. And the bill has a hydrogen production tax credit, which provides hydrogen producers with a credit based on the climate attributes of their production methods.

☆ America's longest-serving congresswoman argues her district needs to 'hold on to the seniority we have' amid broader calls for generational change in politics
▼ + stars: | 2022-11-03 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +8 min

Rep. Marcy Kaptur, 76, is the longest-serving woman in the history of the House of Representatives. She faces a tough re-election against a controversial GOP opponent amid broader calls for new leaders. In an interview with Insider in Toledo, Kaptur touted the benefits that her seniority brings to her district. the 76-year-old lawmaker told Insider during an interview in a staffer's black Jeep following a press conference. Bryan Metzger/InsiderOwing to her seniority, Kaptur sits on the powerful House Appropriations Committee, where she chairs the Subcommittee on Energy and Water Development.

☆ A MAGA House candidate in Ohio was abandoned by the national GOP after questions about his military service. He could make it to Congress anyway.
▼ + stars: | 2022-10-30 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +13 min

GOP House candidate JR Majewski has faced scrutiny for exaggerating his military service. That's despite Majewski's campaign slogan reading: "Conservative Veteran for Congress," with the word "veteran" highlighted in red. In an interview with Insider in Toledo, Majewski brushed off the ad cancellations. "I don't think that's something that's as big of an issue as it maybe appeared to be." "That guy right there just made one call, and made it happen for us," Majewski told attendees, pointing at the chairman.

☆ U.S. awards $1 billion to electrify school bus fleets
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - The Biden administration on Wednesday unveiled nearly $1 billion in awards to U.S. school districts to replace aging, gas-fueled school buses with cleaner, mainly electric models. The funding is the first tranche of $5 billion that the U.S. Environmental Protection Agency (EPA) will hand out over five years through a clean school bus program created by the Bipartisan Infrastructure Law in 2021. The EPA's clean school bus program is part of a broader push by the administration to upgrade public school infrastructure and reduce pollution from old buses. Transitioning to an electric school bus fleet nationwide would cut greenhouse gas emissions by 5.3 million tons per year, according to a study by the non-profit Public Interest Research Group. Last month, EPA said it would nearly double its planned $500 million in clean bus awards for this year due to overwhelming demand from school districts.

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