Friday, May 23, 2025

How the GOP tax bill could impact sustainability effortsNew Foto - How the GOP tax bill could impact sustainability efforts

The multitrillion-dollar GOP tax bill could have detrimental impacts on decarbonization efforts in the U.S., according to energy experts. On Thursday, the House of Representativespasseda sweeping package of tax cuts, Medicaid reform and immigration spending that advances President Donald Trump's campaign promises. The tax cuts would also impact sustainability efforts and domestic climate goals, environmental policy experts told ABC News. Some of the biggest environmental impacts will come in the form of cuts to clean energy credits, Alys Campaigne, a climate initiative leader for the Southern Environmental Law Center, told ABC News. The bill would repeal or phase out some of the Biden-era clean energy tax credits sooner, Campaigne said. "What Trump and the Republicans want most is to extend tax cuts that have nothing to do with energy," Campaigne said. "They are really trying to find ways to pay for their broader tax cuts." New energy projects must break ground within 60 days or be "placed in service" by the end of 2028, the bill states. The legislation also walks back the 2022 Inflation Reduction Act, considered the largest clean energy investment by the federal government. MORE: Senate likely to change House-passed megabill advancing Trump's agenda Credits for rooftop solar installments and electric vehicles would be stripped under the bill as well. At least four Republican senatorshave urged continuation of energy tax credits, including support for traditional and renewable energy sources. Full-scale repeal of current credits "could lead to significant disruptions" in those states, the senators -- led by Lisa Murkowski of Alaska -- said in a letter on April 9. Billions of dollars in clean energy manufacturing investments from the Biden-era subsidies have benefitted Republican-led states and Congressional districts, Campaigne said. "It's a messy political process because of this tension between the different invested interests at play within the Republican caucus," Campaigne said. Up to 330,000 jobs could be at risk, and electricity bills for families and businesses could increase by $51 billion, according to theSolar Energy Industries Association. "This bill threatens the clean energy industry at a time when it's proving to be not only economically beneficial—lowering costs, creating jobs, and fueling local economies—but also essential to America's energy future," Andrew Reagan, president of of Clean Energy for America, said in a statement. MORE: What is SALT and why does it threaten Trump's 'Big Beautiful Bill?' Lori Lodes, executive director of Climate Power, a climate communications firm, told ABC News that House Republicans voted "to create an American energy crisis," calling it a "reckless betrayal" of the House representatives' constituents. "Every single House member who voted to risk jobs in their districts, drive up costs and threaten made-in-America energy will have to answer for that vote back home," Lodes said. Republican-led states and Congressional districts have benefited from billions of dollars in clean energy manufacturing investments spurred by the Biden-era subsidies, Campaigne said. Environmental policy experts are also concerned about provisions in the bill that would allow polluters to avoid oversight by paying a fee, Campaigne said. MORE: Trump's policies could impact the environment long after he leaves office, some experts say The massive tax bill has now beensent to the Senate, which is likely to significantly revise the billover the next month. "This fight isn't over," Lodes said. "Senate Republicans have made it clear the House bill is unacceptable." In addition, the nonpartisan Congressional Budget Office (CBO) is continuing to review the legislation. There is still time for many of these provisions to be changed or removed, such as the removal of sections that authorized the sale of hundreds of thousands of acres of public lands in Nevada and Utah. "Language is still changing," Campaigne said, adding that much of it is written so broadly that it's difficult to understand exactly what the impacts will be if the law goes into effect. MORE: What's in Trump's 'big' tax and immigration bill House Republicans are struggling to pass On Inauguration Day, Trump declared a "national energy emergency," claiming that leasing, development, production, transportation, refining and generation capacity of energy in the U.S. is "far too inadequate." Since then, Trump has attempted to promote increased production of fossils fuels, including signing an executive order toexpand the mining and use of coal.An offshore leasing plan on the U.S. Outer Continental Shelf that would allow for increased drilling was also announced by theDepartment of the Interiorin April. An Environmental Protection Agency initiative dubbed "Powering the Great American Comeback" includes a pillar to "restore American energy dominance," which claims will lower energy bills for Americans. Experts say, however, the U.S. does not have anenergy crisis. In 2023, the Biden administration produced 12.9 million barrels per day, breaking the record set in 2019 at 12.3 million barrels, according to data from theU.S. Energy Information Administration. For the last several years, the U.S. has been thelargest producerof oil and natural gas in the world. Trump pushed for swift action on the bill, urging senators to act "as soon as possible" in apost on his social media pagefollowing the narrow victory in the House. "We can celebrate this pass in the House for a couple of hours, but now it's time for the Senate to get to work," White House press secretary Karoline Leavitt said during Thursday's White House press briefing. How the GOP tax bill could impact sustainability effortsoriginally appeared onabcnews.go.com

How the GOP tax bill could impact sustainability efforts

How the GOP tax bill could impact sustainability efforts The multitrillion-dollar GOP tax bill could have detrimental impacts on decarboniza...
Venezuelan workers at Disney put on leave from jobs after losing protective statusNew Foto - Venezuelan workers at Disney put on leave from jobs after losing protective status

ORLANDO, Fla. (AP) — Almost four dozen Venezuelan workers who had temporary protected status have been put on leave by Disney after the U.S. Supreme Courtallowed the Trump administrationto strip them of legal protections. The move was made to make sure that the employees were not in violation of the law, Disney said in a statement Friday. The 45 workers across the company who were put on leave will continue to get benefits. "We are committed to protecting the health, safety, and well-being of all our employees who may be navigating changing immigration policies and how they could impact them or their families," the statement said. About two-thirds of the workers were in union jobs. The union contract for Walt Disney World service workers in Florida allows them to be reinstated without loss of seniority or benefits once they provide proper work authorization within a year of losing their jobs, said Julee Jerkovich, secretary-treasurer of the United Food And Commercial Workers International Union's Local 1625. "It's very distressing," Jerkovich said Friday. "Disney is being made to be the bad guy, but they didn't have any choice." Disney would have been criticized if the workers weren't put on leave, and U.S. Immigration and Customs Enforcement agents made raids at Disney World, she said. The Supreme Court's order on Monday put on hold aruling from a federal judgein San Francisco that kept in place Temporary Protected Status for the Venezuelans that would have otherwise expired last month. The justices provided no rationale, which is common in emergency appeals. The order potentially exposes as many as 350,000 Venezuelans to deportation. The status allows people already in the United States to live and work legally because their native countries are deemed unsafe for return due to natural disaster or civil strife. The case was the latest in a string of emergency appeals PresidentDonald Trump's administration has made to the Supreme Court, many of them related to immigration and involving Venezuela. Earlier this month, the governmentasked the courtto allow it to end humanitarian parole for hundreds of thousands ofimmigrantsfrom Cuba, Haiti, Nicaragua and Venezuela, setting them up for potential deportation as well. "These workers — our colleagues, friends, and neighbors — have contributed immensely to the success of the Walt Disney Company and to the vibrant culture of central Florida," a coalition of unions at Disney World said in a statement. "No worker should have to live in fear of losing everything after building a life here." ___ Follow Mike Schneider on the social platform Bluesky at@mikeysid.bsky.social.

Venezuelan workers at Disney put on leave from jobs after losing protective status

Venezuelan workers at Disney put on leave from jobs after losing protective status ORLANDO, Fla. (AP) — Almost four dozen Venezuelan workers...
Wisconsin local unemployment drops month over month, but up from a year agoNew Foto - Wisconsin local unemployment drops month over month, but up from a year ago

(The Center Square) – Wisconsin saw the unemployment rate drop in all 13 metropolitan areas in April from a month before but those rates were up from April 2024. The rates also went down in 31 of the state's 35 largest cities month to month while 33 of those cities saw a year over year unemployment rate increase. Those rates came out as the Wisconsin Department of Workforce Developmentpublished updated workforce profilesof all of the state's 72 counties. "Improving economic success and building a 21st Century workforce is important in every one of Wisconsin's 72 counties," Wisconsin Department of Workforce Development Secretary Amy Pechacek said in a statement. "The 2025 county workforce profiles reflect the expertise that our regional economists can offer employers, community leaders, education providers, and many other workforce partners to meet current and future workforce needs, This work helps advance local and regional efforts that are critical to the entire state's success." The unemployment rates went down in 69 counties on a monthly basis while the rates rose in three counties. Over the year, 66 counties saw an unemployment increase.

Wisconsin local unemployment drops month over month, but up from a year ago

Wisconsin local unemployment drops month over month, but up from a year ago (The Center Square) – Wisconsin saw the unemployment rate drop i...
What issues to watch as 'big, beautiful bill' moves to the SenateNew Foto - What issues to watch as 'big, beautiful bill' moves to the Senate

WASHINGTON (AP) — House Republicans were jubilant aftermuscling throughPresident Donald Trump's"big, beautiful" tax and immigration packageby a single vote. But across the Capitol, senators were more cautious. Senate Majority Leader John Thune can afford to lose three Republican senators and still pass the bill, and there are more than that, right now, who have problems with it. Like the House, he will have to balance the concerns from moderate and conservative members of his conference. Republicans' aspirational deadline is July 4, ahead of apotential debt default. Thune said groups of senators had already been meeting to discuss the legislation and that they would want to take some time to review it. "And then we'll put our stamp on it," he said. "We'll see how it goes," Thune said. "What does it take to get to 51?" A look at a few of the potential sticking points in the Senate: Spending Several Republican senators have said the House's multi-trillion-dollar tax package doesn't have enough savings. Thune said many in his GOP conference favor the tax breaks in the bill but "when it comes to the spending side of the equation, this is a unique moment in time, in history, where we have the House and the Senate and the White House, and an opportunity to do something meaningful about how to control government spending." Sen. Ron Johnson, R-Wis., a sharp critic of the House bill, wants the United States to go back to pre-pandemic spending levels. He has indicated he would be a no on the bill as it stands now, and he says he has at least three other senators aligned with him. Medicaid and food stamp cuts Senate Republicans are generally on board with stricter work requirements for older Medicaid recipients that make up much of the bill's$700 billion savings from the program. But Republican Sens. Josh Hawley of Missouri, Jerry Moran of Kansas and Susan Collins of Maine, among others, have voiced concerns about other changes in the bill that could potentially cut funding to rural hospitals or increase copays and other health care costs for recipients. The senators could have a powerful ally in Trump, who has frequently said he doesn't want cuts to Medicaid, even as he's endorsed the House bill. Hawley said he talked to Trump this week on the phone and "his exact words were, 'Don't touch it, Josh.'" Others have been wary of the House bill's effort to shift some costs of the food stamp program to states, potentially a major issue for some red states that have high numbers of food aid recipients. The House bill saves $290 billion from the food aid, and Senate Agriculture Committee Chairman John Boozman said the Senate savings will be "probably be a little bit lower." Permanent tax cuts Thune said this week that "one of the principal differences" between the House and Senate is that Republican senators want to make many of the tax cuts permanent while the House bill has shorter time frames for many of its cuts — includingno taxes on tips, overtime pay, car-loan interest and others. Senate Finance Committee Chairman Mike Crapo said Thursday that trying to make some of the cuts permanent is "an objective right now." How to pay for it all One of the biggest questions for the Senate: whether the tax breaks really need to be offset by cuts elsewhere. To offset the costs of lost tax revenue, House Republicans have proposed more than $1 trillion in spending reductions across Medicaid, food stamps and green energy program rollbacks. However, Republicans in the Senate do not believe there is a cost associated with permanently extending the existing taxes, setting up a political and procedural showdown ahead. Debt limit The House bill includes a $4 trillion increase in the debt limit. Treasury Secretary Scott Bessent has warned that the United States is on track to run out of money to pay its bills as early as August without congressional action. Sen. Rand Paul, R-Ky., said he won't support the bill if the debt ceiling increase is included. He said he's willing to consider it if it's taken out. But most Republican senators want it to avoid a separate fight that would require 60 votes in the Senate. Texas Sen. John Cornyn said that if they deal with the debt ceiling outside of the legislation then they would have to "pay a king's ransom" to Democrats to get enough votes. Energy tax credits Several Republican senators have said they are concerned about House provisions thatrepeal or phase out clean energy tax creditspassed in 2022 that have spurred investment in many states. Republican Sens. Lisa Murkowski of Alaska, Thom Tillis of North Carolina, John Curtis of Utah and Moran wrote Thune a letter last month arguing that removing the credits could "create uncertainty, jeopardizing capital allocation, long-term project planning, and job creation in the energy sector and across our broader economy." Artificial intelligence The House bill wouldban states and localities from regulating artificial intelligencefor a decade, giving the federal government more control over the policy. It's an approach that has been favored by the AI industry but has drawn concern from members on both sides of the aisle. And even if it has enough support, the provision may not pass muster from the Senate parliamentarian because it's unlikely to have impact on the federal budget. Other issues With a narrow margin for victory and only 53 Republicans in the Senate, every senator's top priority takes on outsize importance. South Dakota Sen. Mike Rounds said he supports the House bill but that the way that it deals with spectrum auctions — selling off telecommunications signal rights — is a "dealbreaker" for him. He said he's in talks with other senators on the issue. Sen. John Hoeven, R-N.D., said one of his main goals is that they include money for certain farm safety net programs and set up passage for a broader farm bill later this year. "In the end, we have to have 50 plus one supporting it," Hoeven said. "So we've got some work to do." ___ Associated Press writer Lisa Mascaro contributed to this story.

What issues to watch as 'big, beautiful bill' moves to the Senate

What issues to watch as 'big, beautiful bill' moves to the Senate WASHINGTON (AP) — House Republicans were jubilant aftermuscling th...
Markets slide after Trump lobs tariff threats at Apple and EUNew Foto - Markets slide after Trump lobs tariff threats at Apple and EU

Stocks tumbled on Friday after President Trumpthreatened to imposea fresh round of tariffs, this time aimed at Apple and the European Union. The S&P 500 was down 48 points, or 0.8%, at 5,794 as 11:58 EST on Friday. The Dow Jones Industrial Average was also down 0.8%, while the tech-heavy Nasdaq shed 206 points, or 1.0%. The shaky start on Wall Street followed a string of Friday morning posts from the president on Truth Social regarding his tariff policy. Mr. Trump first said that he would impose a 25% tariff on Apple if the company did not shift some of their iPhone production to the U.S. Daniel Ives, a tech analyst from Wedbush Securities, called the move a "frustrating situation for investors" in a Friday morning research note. Apple stocks fell in early trading by 1.9%. The president also posted that he would impose a "straight 50% Tariff" on the European Union, calling the group of countries "very difficult to deal with." "Our discussions with them are going nowhere!" he stated. European markets reacted swiftly to Mr. Trump's Friday morning shake-up. The Germany's DAX fell 1.9%, while the CAC 40 in Paris fell 2.4%. London's FTSE 100 also shed 1.1%. Looking ahead, Gregory Daco, chief economist at EY-Parthenon, expects the markets to remain in a period of "extreme volatility" — especially with more tariff announcements on the horizon. "I think we should refrain from assuming that we've passed the worst in terms of trade policy announcements," Daco said. A90-day pauseon reciprocal tariffs will end on July 9, while a separate90-day reductionin tariffs on Chinese goods will end in August. So far, the U.S. has publicly announced deals withChinaand theUnited Kingdom. Bond market Yields on 10-year Treasury have eased after ticking up this week, as investors grow increasingly worried over the country's debt burden, UBS said in a research note. Moody's Ratingsdowngraded the U.S. credit ratingon March 16. The downgrade from the top rating of Aaa to Aa1 "reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns," the credit rating firm said in astatementthat same day. Meanwhile, a House Republicanspending billcurrently being shepherded through Congress is projected to add trillions to the nation's debt. Rising debt and the Trump administration's ongoing tariff policies are creating two different realities for the equity and bond markets, Daco said. Why did Trump pause the tariffs? The bond market rebelled — here's what that means. "The equity market is much more focused on the positives and the potential adaptation of businesses to a higher tariff environment and the positives of having more fiscal spending," he said. "The bond market is much more worried about persistent trade tensions, rising budget deficits and an unsustainable fiscal trajectory." Trump confronts South African president during White House meeting, repeats genocide claims Trump takes questions during meeting with South African president Rubio, Jayapal have fiery exchange about Afrikaner refugee's antisemitic tweet, student visas

Markets slide after Trump lobs tariff threats at Apple and EU

Markets slide after Trump lobs tariff threats at Apple and EU Stocks tumbled on Friday after President Trumpthreatened to imposea fresh roun...

 

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