How the Inflation Reduction Act sparked a manufacturing and clean energy boom

Some 271 manufacturing projects for clean energy tech and electric vehicles have been announced since the IRA passed.

Aug. 20, 2024, 7:22 AM CDT / Source: CNBC

By Spencer Kimball, CNBC and Gabriel Cortés, CNBC

The Inflation Reduction Act has sparked a manufacturing boom across the U.S., mobilizing tens of billions of dollars of investment, particularly in rural communities in need of economic development.

The future of those investments could hinge on the outcome of the U.S. presidential election. The prospect of a Republican victory has shaken the confidence of some investors who worry the IRA could be weakened or in a worst-case scenario repealed.

Companies have announced $133 billion of investments in clean energy technology and electric vehicle manufacturing since President Joe Biden signed the IRA into law in August 2022, according to data from the Massachusetts Institute of Technology and the Rhodium Group.

Actual manufacturing investment has totaled $89 billion, an increase of 305% compared to the two years prior to the IRA, according to MIT and Rhodium. Overall, the IRA has leveraged half a trillion dollars of investment across the manufacturing, energy and retail sectors, according to the data.

“It is having a transformative effect within the manufacturing sector,” said Trevor Houser, a partner with the Rhodium Group. “The amount of new manufacturing activity that we’re seeing right now is unprecedented in recent history, and is in large part due to new clean energy manufacturing facilities.”

Some 271 manufacturing projects for clean energy tech and electric vehicles have been announced since the IRA passed, which will create more than 100,000 jobs if they are all completed, according to the advocacy group E2, a partner of the National Resources Defense Council. The investments sparked by the IRA have been a boon for rural communities in particular, Houser said.

“Unlike investment in AI and tech and finance, which is clustered in big cities, clean energy investment really is concentrated in rural communities, and is one of the brightest sources of new investment in those areas,” Houser said.

The IRA has also accelerated the deployment of renewable energy, with $108 billion in invested in utility-scale solar and battery storage projects. Investments in solar and battery storage have surged 56% and 130%, respectively, over the past two years, according to the Rhodium data.

“The more mature technologies, so like wind and solar generation, electric vehicles, those have achieved escape velocity,” Houser said. “They will continue to grow no matter what. It’s a question of speed.”

Trump threats to IRA

But the “manufacturing renaissance” is still in its early stages and remains fragile, Houser said. Without the IRA, the resurgence of new factories would not have taken off, said Chris Seiple, vice chairman of Wood Mackenzie’s power and renewables group.

Former President Donald Trump has threatened to dismantle the law as he advocates for more oil, gas and coal production.

“Upon taking office, I will impose an immediate moratorium on all new spending grants and giveaways under the Joe Biden mammoth socialist bills like the so-called Inflation Reduction Act,” Trump told supporters at a May rally in Wisconsin.

“We’re going to terminate his green new scam,” he said. “And we’re going to end this war on American energy — we’re going to drill, baby, drill.”

https://www.nbcnews.com/business/energy/inflation-reduction-act-sparked-manufacturing-clean-energy-boom-rcna167315

Kansas will pay $50,000 to settle a suit over a transgender Highway Patrol employee’s firing

Kansas will pay $50,000 to settle a federal lawsuit filed by a former state Highway Patrol employee who claimed to have been fired for coming out as transgender

ByJOHN HANNA Associated Press August 15, 2024, 6:11 PM

TOPEKA, Kan. — Kansas will pay $50,000 to settle a federal anti-discrimination lawsuit filed by a former state Highway Patrol employee who claimed to have been fired for coming out as transgender.

Democratic Gov. Laura Kelly and eight leaders of the Republican-controlled Legislature unanimously approved the settlement during a brief online video conference Thursday. The state attorney general’s office pursued the settlement in defending the Highway Patrol, but any agreement it reaches also must be approved by the governor and top lawmakers.

Kelly and the legislators didn’t publicly discuss the settlement, and the amount wasn’t disclosed until the state released their formal resolution approving the settlement nearly four hours after their meeting. Kelly’s office and the offices of Senate President Ty Masterson and House Speaker Dan Hawkins did not respond to emails seeking comment after the meeting.

The former employee’s attorney declined to discuss the settlement before state officials met Thursday and did not return a telephone message seeking comment afterward. The lawsuit did not specify the amount sought, but said it was seeking damages for lost wages, suffering, emotional pain and “loss of enjoyment of life.”

The ex-employee was a buildings and grounds manager in the patrol’s Topeka headquarters and sued after being fired in June 2022. The patrol said the ex-employee had been accused of sexual harassment and wasn’t cooperative enough with an internal investigation. The lawsuit alleged that reason was a pretext for terminating a transgender worker.

The settlement came four months after U.S. District Judge John Broomes rejected the state’s request to dismiss the lawsuit before a trial. Broomes ruled there are “genuine issues of material fact” for a jury to settle.

The U.S. Supreme Court ruled in 2020 that a landmark 1964 federal civil rights law barring sex discrimination in employment also bars anti-LGBTQ+ bias.

Court documents said the former Highway Patrol employee, a Topeka resident sought to socially transition at work from male to female. The ex-employee’s last name was listed as Dawes, but court records used a male first name and male pronouns. It wasn’t clear Thursday what first name or pronouns Dawes uses now.

In a December 2023 court filing, Dawes’ attorney said top patrol leaders met “a couple of months” before Dawes’ firing to discuss Dawes being transgender and firing Dawes for that reason.

The patrol acknowledged the meeting occurred but said the leaders decided to get legal advice about the patrol’s “responsibilities in accommodating Dawes” in socially transitioning at work, according to a court filing by a state attorney in November 2023.

Court filings said the meeting wasn’t documented, something Dawes’ attorney called “a serious procedural irregularity.”

The patrol said in its court filings that Dawes’ firing was not related to Dawes being transgender.

It said another female employee had complained that in May 2022, Dawes had complimented her looks and told her “how nice it was to see a female really taking care of herself.” Dawes also sent her an email in June 2022 that began, “Just a note to tell you that I think you look absolutely amazing today!” The other employee took both as sexual advances, it said.

Dawes acknowledged the interactions, but Dawes’ attorney said Dawes hadn’t been disciplined for those comments before being fired — and if Dawes had been, the likely punishment would have only been a reprimand.

The patrol said it fired Dawes for refusing the first time an investigator sought to interview him about the other employee’s allegations. The patrol said Dawes claimed not to be prepared, while Dawes claimed to want to have an attorney present.

Dawes was interviewed three days later, but the patrol said refusing the first interview warranted Dawes’ firing because patrol policy requires “full cooperation” with an internal investigation.

“Dawes can point to no person who is not transgender who was treated more favorably than transgender persons,” the state said in its November 2023 filing.

https://abcnews.go.com/US/wireStory/kansas-pay-50000-settle-suit-transgender-highway-patrol-112879491

Let’s talk about Trump’s attempt to attach Harris to Biden’s policies….

Let’s talk about updates, Ukraine, Belarus, and Russia….

Let’s talk about Trump’s attempted campaign reset….

I suppose…

“LIVE: Joe Biden Steals Nomination Back From Kamala, Gives It To Hillary, Takes It Back Again by Rebecca Schoenkopf

“Night 1 of the DNC! Shenanigans? Read on Substack

“OK we don’t know if that’s gonna happen but tonight Joe Biden speaks at the DNC, and also Hillary Clinton, and Jason Isbell is performing, and you should watch it.”

(Video linked on the page)

Actually not that funny…

but it kinda is.

Close to Home by John McPherson for August 19, 2024

Close to Home Comic Strip for August 19, 2024

https://www.gocomics.com/closetohome/2024/08/19

Mark Cuban Posts Flurry of Responses to Kamala Harris Economic Plan

Published Aug 16, 2024 at 6:59 PM EDTUpdated Aug 17, 2024 at 2:36 PM EDT

FWIW. Mark Cuban is a billionaire, and as Tengrain says, billionaires are indicative of the flaws in the US taxation system. However, Cuban doesn’t seem to have devoted himself entirely to the dark side, as many billionaires do, and this story is fairly positive about the Harris-Walz campaign.

=====

Billionaire and Shark Tank star Mark Cuban promoted Vice President Kamala Harris‘ economic policies in a flurry of social media posts Friday afternoon.

Harris introduced several proposals aimed at bringing down the cost of groceries, the housing market and other essential goods during a rally in North Carolina on Friday. The Democratic nominee’s plan includes tax cuts, a federal ban on price gouging by food producers and offering down payment assistance for first-time homebuyers who qualify. As the Associated Press (AP) reported, the policies are largely built off the Biden administration’s priorities.

“As president, I will take on the high costs that matter most to most Americans, like the cost of food,” Harris told supporters Friday. “We all know that prices went up during the pandemic when the supply chains shut down and failed. But our supply chains have improved and prices are still too high.”

Cuban, a frequent critic of former President Donald Trump, shared his two cents on Harris’ proposals to X, formerly Twitter, including addressing criticism that the vice president has received for promising to go after price gouging as a way to tackle inflation. Trump has called the plans similar to “Maduro-esque price controls,” comparing the plan to the Venezuelan leader’s policies that crippled the country’s economy.

Bloomberg columnist Matthew Yglesias wrote to X on Friday, “I’m pretty sure Harris did not in fact propose price controls on groceries—just kind of vaguely said that antitrust enforcement is good (it is good).”

Cuban responded to Yglesias’ post, “This is a fact.”

“Did you also notice that she said that the 25k credit only applies to NEW homes? Did I hear that right?” he wrote in a separate response to Yglesias.

Cuban posted another statement a few minutes later praising Harris’ plans to bring down health care and drug costs, writing, “And my favorite of course, did anyone else hear @VP say she was going to bring TRANSPARENCY to pharmacy and healthcare middlemen? The root cause of almost all that is wrong with healthcare pricing?”

According to AP’s report, Harris’ price gouging attacks include instructing the Federal Trade Commission to penalize any “big corporations” that engage in price spikes. But economists previously told Newsweek that the plan could backfire, and likely does not address the root problems of inflation.

“The idea of a political solution to an economic non-problem is flawed,” said Scott Lincicome, vice president of general economics and trade at the libertarian Cato Institute in Washington, D.C., during an interview with Newsweek. “There’s very little evidence that corporate greed or price gouging is responsible for high grocery or housing prices.”

“Preventing price increases sounds good, but what do investors and farmers do when they can’t guarantee a return on investment or cover their costs?” Lincicome added. “They cut back on investment, leading to reduced supply and even higher prices or outright shortages.” (Note from Ali: translated, this means if we the customers deprive the owners/shareholders of their massive profits which actually are not their investments but the prices we pay, they might scoop up their marbles and go home. I’m not scared.)

Harris also attacked Trump’s economic proposals during her rally on Friday, including critiquing the GOP candidate’s calls for increased tariffs on imports.

The vice president said that Trump “wants to impose what is, in effect, a national sales tax on everyday products and basic necessities that we import from other countries.”

“It will mean higher prices on just about every one of your daily needs,” Harris added, per AP’s report. “A Trump tax on gas, a Trump tax on food, a Trump tax on clothing, a Trump tax on over-the-counter medication.”

Cuban also praised Harris as a “pro-business candidate” during his string of posts to X.

Newsweek reached out to Harris’ campaign via email for comment on Friday evening.

https://www.newsweek.com/mark-cuban-posts-flurry-responses-kamala-harris-economic-plan-1940604

Reading some news 8 19 2020

The volume is low. I have tried everything I know to boost it, sorry. I want to do one or more a day of these, and try to tighten them up to be shorter. Thanks for all the suggestions. I learn for what you tell me. By the way the cat came in right after I started recording again, Ron says I woke him and he was sleeping under the car. Best wishes and hugs. Scottie