Joe Biden

EV credits are now harder to come by. These buyers snuck in deals under the wire. | CNN Business

EV credits are now harder to come by. These buyers snuck in deals under the wire. | CNN Business

Washington, DC CNN Business  —  President Biden signed into law the Inflation Reduction Act on Tuesday, and it will reshape the electric vehicle tax credit. Automakers and consumers have scrambled in the last week to brace for its impact. Some car buyers are relieved to have finalized purchases before today, when qualifying became generally more …

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Which EVs qualify for new US tax credit? Websites offer help

Which EVs qualify for new US tax credit? Websites offer help

WASHINGTON (AP) — As part of the rollout of a huge new climate, tax and healthcare law, the U.S. government is moving forward with its plan to award new tax credits to electric vehicle purchasers. Several new websites launched Tuesday to help people identify which vehicles qualify for the credits. Based on data submitted to …

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Biden is set to sign the largest climate bill in history. These stocks could see the biggest boost

Biden is set to sign the largest climate bill in history. These stocks could see the biggest boost

The largest climate funding package in U.S. history is on its way to President Joe Biden’s desk , with initiatives that could permanently alter the nation’s energy system. The implications across the clean energy space are vast, with the bill touching just about every industry from solar to wind, hydrogen, nuclear, electric vehicle and more …

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Is the economy in a recession? ‘What you call it is less relevant,’ says one economist: Here’s ‘what really matters'

Is the economy in a recession? ‘What you call it is less relevant,’ says one economist: Here’s ‘what really matters’

‘We should have an objective definition’ Officially, the NBER defines a recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” In fact, the latest quarterly gross domestic product report, which tracks the overall health of the economy, showed a second consecutive contraction this year. Still, …

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Economist Phillip Magness slams ‘Orwellian’ Facebook for fact-checking recession post

Economist Phillip Magness slams ‘Orwellian’ Facebook for fact-checking recession post

A prominent economist has revealed that Facebook placed a fact-checking label on a post asserting that the US has entered a recession, giving it a “partly false” rating as President Biden continues to reject the grim assessment of the economy. Dr. Phillip Magness, the research and education director at the American Institute for Economic Research, a …

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Biden on Thursday (pictured) insisted that the country was not in a recession, despite new data showing a second consecutive quarter with negative growth

‘We live in an Orwellian hell-scape’: Top economist lashes Facebook for ‘fact-checking’ recession

Facebook placed a ‘fact-checking’ label on a post written by a top economist stating that the United States is now in a recession – a move he termed ‘Orwellian’. Two consecutive quarters of negative growth is the standard definition of a recession, and Phillip Magness, the research and education director at the American Institute for …

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White House goes on offense to argue that the U.S. is not in a recession

White House goes on offense to argue that the U.S. is not in a recession

U.S. President Joe Biden delivers remarks on the Inflation Reduction Act of 2022 at the White House in Washington, U.S., July 28, 2022. Elizabeth Frantz | Reuters WASHINGTON — The White House responded to second-quarter negative GDP growth with a full slate of events and a well-coordinated message: Despite what everyone is saying, the U.S. …

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Biden shrugs off recession talk, talks up fighting inflation

Biden shrugs off recession talk, talks up fighting inflation

WASHINGTON (AP) — President Joe Biden and his administration went all out Thursday to play down a troubling new economic report that added to the evidence of a recession, trying to pull focus instead to major legislative progress on measures to tame inflation, reduce debt and preserve America’s competitive edge. The desire to accentuate the …

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Is this a recession or not? While it's 'not entirely clear,' here's what it could mean for American consumers

Is this a recession or not? While it’s ‘not entirely clear,’ here’s what it could mean for American consumers

Americans want to know: Is this a recession or not? Officially, the National Bureau of Economic Research defines recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” In fact, the latest quarterly gross domestic product report, which tracks the overall health of the economy, showed …

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Biden fights talk of recession as key economic report looms

Biden fights talk of recession as key economic report looms

Facing a potentially grim report this week on the economy’s overall health, President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession. The Commerce Department on Thursday will release new gross domestic product figures. Top forecasts such as the Atlanta Federal Reserve’s GDPNow are predicting …

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