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Proterra, which President Joe Biden once said was "making me look good," sold hundreds of electric buses to municipalities across North America. Every transit district Just The News spoke with, except one, has inoperable buses awaiting repairs. Across the country, towns and cities of various sizes envisioned an electrified public transit system that could shuttle residents with vehicles that produced no carbon-filled exhaust. Many of those communities purchased buses from Silicon Valley-based Proterra, which was able to produce 550 buses over its 19-year existence before it went bankrupt in August. The company announced last month it had concluded auctions as...

WASHINGTON (AP) — President Joe Biden, struggling to convince Americans that he's improved their lives as he runs for reelection, hailed his administration's Tuesday announcement that several drugs would be targeted for Medicare's first-ever price negotiations. The drugs include the blood thinner Eliquis, diabetes treatment Jardiance and eight other medications. The negotiation process was authorized under the Inflation Reduction Act, which Biden signed last year, capping decades of debate over whether the federal government should be allowed to haggle with pharmaceutical companies. Any lower prices won't take effect for three years, and the path forward could be further complicated by...

The victor of the 2024 election is set to face a number of new legislative deadlines immediately upon entering office that could have drastic effects on the country’s economy. More than a dozen candidates are eyeing the Oval Office in 2024, positioning themselves as the best choice to address the nation’s cultural and economic challenges. However, upon taking office in 2024, the winner of the presidential election must deal with the impending expirations of both the 2017 tax law as well as subsidies included in Obamacare. On top of that, the debt limit bill is also set to expire just...

Global drugmaker Merck on Tuesday sued the Biden administration over Medicare’s new powers to substantially reduce drug prices for seniors under the Inflation Reduction Act, the opening salvo in the pharmaceutical industry’s efforts to weaken the program. In a scathing complaint filed in federal district court, Merck excoriated the negotiation process as a “sham” and “tantamount to extortion.” The drugmaker accused the federal government of employing what the company described as an unconstitutional scheme to take private property for public use without just compensation in violation of the Fifth Amendment. The company asked the U.S. District Court for the District...

2 minute video of Janet Yellen discussing what the Inflation Reduction Act was really about.

Sen. Joe Manchin​ accused the Biden administration of not implementing the Inflation Reduction Act as intended, arguing it is “ignoring” the law’s provisions to expand fossil fuels for purely partisan purposes and undermining its ability to reduce the national debt. “​{​​I]​nstead of implementing the law as intended, unelected ideologues, bureaucrats and appointees seem determined to violate and subvert the law to advance a partisan agenda that ignores both energy and fiscal security​,” the West Virginia Democrat wrote in an op-ed published Wednesday in the Wall Street Journal. “​Specifically, they are ignoring the law’s intent to support and expand fossil energy...

Amid issues like climate change and fluctuations in the global price of oil, American motorists are increasingly interested in electric vehicles (E.V.s). In early 2022, new E.V. registrations rose 60 percent even as overall new car registrations declined by 18 percent. Of all considerations, the biggest barrier to acceptance is price: The price of the average new E.V. runs nearly $67,000, while the overall average new car costs just under $50,000. Clearly the key to greater adoption of E.V.s is bringing the price down to be more in line with gas-burning alternatives. Last week, Volkswagen introduced a new concept car,...

Two economists reported Tuesday in a Wall Street Journal op-ed that President Joe Biden is cutting Medicare benefits through the so-called Inflation Reduction Act, which cuts payments for prescription drugs for seniors. Casey B. Mulligan and Tomas J. Philipson wrote: President Biden has accused Republicans of scheming to cut Medicare. In fact it is his signature legislation, the Inflation Reduction Act, that will lead to benefit cuts and premium increases for seniors. Medicare’s popular drug-coverage program is headed for a painful amputation. The private plans participating in Medicare’s prescription-drug program, known as Part D, currently draw on three sources of...

EU member states are standing resolutely firm against President Joe Biden’s Inflation Reduction Act amid fears it will harm their domestic companies and economies. The sweeping U.S. legislation, which was approved by U.S. lawmakers in August and includes a record $369 billion in spending on climate and energy policies, was discussed by the 27 EU finance ministers on Tuesday. This came after the European Commission, the executive arm of the EU, said there are “serious concerns” about the design of the financial incentives in the package. “Each minister agreed that this is a subject of concern at the European level...

On Tuesday’s broadcast of CNN’s “New Day,” Sen. Joe Manchin (D-WV) reacted to Congressional Budget Office’s $400 billion cost projection for President Joe Biden’s student loan forgiveness plan by saying that it “seems to” wipe out whatever deficit reduction there was in the Inflation Reduction Act and that he “cannot answer when people call me” and wonder why they’re being “penalized” for paying their loans off. Manchin said, “I’m very much concerned about the debt we have. We have about a $31 trillion debt that we have to be realistic about. In the IRA bill, we had $300 billion being...

For as long as there have been politics there have been deals.Of course, it is illegal to trade one's vote for cash, but those with the power to dispense patronage, projects, and promotions have a unique advantage in seeking the support of those whose endorsements can tip the balance for any given issue.It is unprecedented, however, when the stakes have become so high that these kinds of backroom deals can disrupt an election or even plunge a nation into an unrecoverable cycle of debt and economic despair.That is why the "Inflation Reduction Act of 2022" that has come out of...

On Tuesday’s broadcast of the Fox News Channel’s “Special Report,” Sen. Joe Manchin (D-WV) defended referring to the reconciliation package passed by Congressional Democrats and signed by Joe Biden as the Inflation Reduction Act in the wake of the August Consumer Price Index (CPI) report because “It’s the only thing that we have ever done that has a chance to really fight inflation.” Host Bret Baier asked, [relevant exchange begins around 6:50] “For people at home, we’re talking about the inside politics about how to get these deals done. They look at what they’re seeing at the table. And inflation...

Treasury Secretary Janet Yellen on Thursday admitted that Joe Biden’s ‘Inflation Reduction Act’ is actually the Green New Deal repackaged. Yellen said Biden’s Marxist spending bill will “rid ourselves” of oil and gas. “The Inflation Reduction Act will put us on our way toward a future where we depend on the wind, the sun and other clean sources of energy. We will rid ourselves from our dependence on fossil fuels,” Yellen said. VIDEO: Treasury Sec. Janet Yellen: “The Inflation Reduction Act will put us on our way toward a future where we depend on the wind, the sun and other...

Joe Manchin and Kyrsten Sinema are known as the moderates of the Senate Democratic Caucus. There are problems with that designation, of course, such as the fact that Manchin's and Sinema's lifetime ACU ratings are 27% and 15%, respectively - not exactly the definition of "moderation." But the universe of Democratic Party officeholders has moved so far left that they now officially regard Josef Stalin as "squishy," so the definition of "moderate" has had to be softened a bit as well, in recent years. Since the Democrats usurped complete control of both the national executive and legislative branches in 2020,...

How anyone believed hundreds of billions in new spending was going to lower inflation is beyond me—but they’re not called ‘useful idiots’ for nothing. On Sunday, the United States Senate passed what was imprudently named the Inflation Reduction Act—with Kamala Harris breaking the tie, literally snickering as she condemned America to further economic carnage, and working-class citizens to utter financial strangulation. SNIP Interesting to note is that the mockingbird media—nothing more than a propaganda machine at the behest of the Democrat-Marxists driving the country into the ground—referred to the bill as the Inflation Reduction Act, but only until it passed....

The Senate on Sunday passed the Democrats’ sweeping economic package that would allocate billions of taxpayer dollars to facilitate the expansion of the Internal Revenue Service’s workforce. The IRS would receive $80 billion if H.R. 5376, the $750 billion “Inflation Reduction Act” passes the House and lands on Biden’s desk. The funding would mark a 600 percent increase from 2021 when the bureau received $12.6 billion. The reconciliation package would also double the current IRS workforce by hiring an additional 87,000 employees to the bureau’s staff of 78,661 employees, a move that would make the IRS larger than the Pentagon,...

WASHINGTON (AP) — Democrats pushed their election-year economic package to Senate passage Sunday, a hard-fought compromise less ambitious than President Joe Biden’s original domestic vision but one that still meets deep-rooted party goals of slowing global warming, moderating pharmaceutical costs and taxing immense corporations. Nonpartisan analysts have said the 755-page “Inflation Reduction Act” would have a minor effect on surging consumer prices.

U.S. Senator Bernie Sanders said Biden's Inflation Reduction Act of 2022 will not bring down rampant inflation and would only have a 'minimal impact.' After Vice President Kamala Harris broke a tie in the Senate to push the reconciliation bill through the initial hurdle in a 51-50 vote, lawmakers began debating the bill, with Sanders offering a realistic outlook over the measure. 'I want to take a moment to say a few words about the so-called Inflation Reduction Act' that we are debating this evening,' Sanders, of Vermont, said on the Senate floor. 'And I say so-called, by the way,...

It should come as no surprise that the $739 billion “Inflation Reduction Act” doesn’t reduce inflation much at all. Moody’s Analytics chief economist Mark Zandi says that, over a ten-year period, the bill would reduce inflation by all of one-third of a percentage point. “Through the middle of this decade the impact of the legislation on inflation is marginal, but it becomes more meaningful later in the decade,” Zandi wrote. As Politico reports, “That assessment lands on the heels of another report from the Penn Wharton Budget Model — whose research is said to be favored by Manchin (D-W.Va.) —...