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Keyword: subsidies

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  • Ted Cruz’s War On Ethanol Takes Him To Philly

    02/22/2018 12:10:43 PM PST · by Rio · 18 replies ^ | 2/22/2018 | Catherine Sbeglia
    As part of his ongoing war against the ethanol industry, Senator Ted Cruz traveled to Philadelphia this week to meet with oil refinery workers who claim to be facing layoffs and financial ruin due to the federal mandated Renewable Fuel Standard (RFS). The now-bankrupt refinery, Philadelphia Energy Solutions, has argued that the cause of its financial problems are renewable identification numbers, or RINs, federal credits that refineries must purchase if they are unable to blend ethanol with gasoline as federal law requires. Credit prices fluctuate and in the past year, have risen from a few cents to nearly $1.40 apiece....
  • As Some Got Free Health Care, Gwen Got Squeezed: An Obamacare Dilemma

    02/19/2018 8:33:51 PM PST · by Theoria · 51 replies
    The New York Times ^ | 19 Feb 2018 | Abby Goodnough
    Gwen Hurd got the letter just before her shift at the outlet mall. Her health insurance company informed her that coverage for her family of three, purchased through the Affordable Care Act marketplace, would cost almost 60 percent more this year — $1,200 a month. She and her husband, a contractor, found a less expensive plan, but at $928 a month, it meant giving up date nights and saving for their future. Worse, the new policy required them to spend more than $6,000 per person before it covered much of anything. “It seems to me that people who earn nothing...
  • IRS overpaid nearly $3.5 billion in Obamacare tax credits in 2017, can’t recoup money

    02/07/2018 5:46:32 PM PST · by jazusamo · 33 replies
    The Washington Times ^ | February 7, 2018 | Tom Howell Jr.
    The IRS overpaid nearly $3.5 billion in Obamacare tax credits last year that it cannot recoup because of constraints built into the program, frustrating Republicans who have failed to repeal the health care law but say that money could have been spent on programs for veterans or infrastructure. A Treasury watchdog said the government paid out roughly $24 billion in Obamacare subsidies in the heart of the 2017 tax-filing season, with $5.8 billion in overages. Of that, just $2.3 billion was clawed back, leaving $3.5 billion in outstanding excess payments. “The overpayments were that much?” said Rep. Phil Roe, Tennessee...
  • Meet A Professor Who Argues Against Educational Subsidies

    01/30/2018 7:27:24 AM PST · by SeekAndFind · 7 replies
    Forbes ^ | 01/30/2018 | George Leef
    In a book that was long in the works, George Mason University economics professor Bryan Caplan explains, as his subtitle reads, “why the education system is a waste of time and money.” He is emphatically not against people learning skills and knowledge, but argues that our current system of education does a poor job of that, and at inordinate cost. He would like to see government subsidies for education stopped. Caplan puts his case starkly: “Most critics of our education system… miss what I see as its supreme defect: there’s way too much education. Typical students burn thousands of hours...
  • Cities should respond to Amazon's squeeze play by saying no to subsidies

    01/22/2018 7:35:37 AM PST · by SeekAndFind · 14 replies
    LA Times ^ | 01/22/2018 | By MICHAEL HILTZIK
    Amazon released its short list of contenders for its second-headquarters project on Thursday, and the news was bad. Whether it was worse for the hundreds of communities left out of the running or for the 20 so-called finalists is an open question. Judging from the willingness of some remaining contenders to endow one of the world's richest companies with billions in handouts, we're going with the latter. As we've been reporting since September, when the Seattle-based online retailer and tech giant announced plans to locate a $5-billion, 50,000-employee complex as its second headquarters somewhere in North America, offering tax abatements...
  • GOP Lawmakers Confront Trump Over EPA’s Unworkable Biofuels Mandate

    12/07/2017 9:17:00 PM PST · by Tolerance Sucks Rocks · 19 replies
    The Daily Caller ^ | December 7, 2017 | Chris White
    President Donald Trump will meet with a group of Republican lawmakers Thursday to discuss ways of addressing problems oil refiners have with the EPA’s biofuels mandate. Texas Sen. Ted Cruz is among nearly a dozen Republican lawmakers prepared to confront Trump over his administration’s refusal to ratchet down the biofuel standard. They want to find a way to lessen the impact the standards have on oil refiners. “President Trump will meet with senators today to discuss his commitment to the Renewable Fuel Standard and how to effectively address the program’s impact on independent refiners,” White House spokeswoman Lindsay Walters said...
  • NFL loses big tax subsidy in GOP tax plan

    11/02/2017 10:12:07 PM PDT · by Kevin in California · 14 replies
    Conservative Review ^ | 10-02-2017 | Chris Pandolpho
    It looks like Congress is taking steps to end some of the special tax breaks and subsidies for major sports leagues in its tax reform package. Professional sports leagues like the NFL enjoy tax exemptions on the municipal bonds that are used to build their stadiums. A provision in Sec. 3604 eliminates this perk. If sports teams want to build new stadiums, they’re now going to pay federal taxes to do it.
  • To the Corn-Farming CLIMATE Protectors—especially in Iowa and Illinois

    11/02/2017 7:21:06 AM PDT · by rktman · 30 replies ^ | 11/1/2017 | Dr. Klaus L.E. Kaiser
    Greetings to you, with my hope that you are doing well! According to public records, most of you are. That’s good! The whole U.S. produces somewhere around 15 billion bushels (BB) of corn a year at a rate of ca. 145 bushels per acre. Roughly, that’s 1/3 of the entire world production. Nearly 1/3 of the entire U.S. production comes from Iowa (2.7 BB), Illinois (2.3 BB), Nebraska (1.7 BB), Minnesota (1.5 BB), and Indiana (0.9 BB). Of that bountiful harvest, in the order of 25% are being converted via fermentation and distillation into ethanol, resulting in ~2.9 gallons of...
  • After a historic default, Argentina is a far cry from its past

    10/24/2017 2:54:17 PM PDT · by Jagermonster · 8 replies
    The Christian Science Monitor ^ | October 24, 2017 | The Monitor's Editorial Board
    SHIFT IN THOUGHT   In a world awash in red ink, Argentina’s reforms since 2015 show how attitudes can shift toward excessive debt. The world’s largest economies are awash in red ink, the International Monetary Fund reported in October. And they are hard-pressed to service their debts, which on average amount to more than twice their domestic output. China accounts for much of this global rise in debt. After a leadership reshuffle this week, Beijing may start to finally tackle the problem. But one country in particular, Argentina, has shown how to change attitudes and turn around an unhealthy dependence...
  • Dulles Toll Road Fee Projected to Increase to $4.75 in 2019, $6 in 2023

    10/22/2017 11:15:56 AM PDT · by Tolerance Sucks Rocks · 18 replies
    Reston Now ^ | October 18, 2017 | Dave Emke
    Users of the Dulles Toll Road can expect to pay more in 2019, according to a 2018 draft budget presented to the Metropolitan Washington Airports Authority Board today.No increase from the $3.50 toll ($2.50 at the plaza and $1 at the ramp) is planned in 2018; however, it is expected to jump to $4.75 the following year. Numbers presented by the Board’s Finance Committee show that is only the beginning of the hikes.In 2023, the toll is projected to go up to $6. Additional jumps of $1.25 or more are projected every five years for the following two decades, resulting...
  • Democrats Yelp as Trump Upholds Constitution

    10/20/2017 8:41:45 AM PDT · by afraidfortherepublic · 7 replies
    Real Clear Politics ^ | 10-20-17 | Michael Barone
    Donald Trump is criticized, often justly, for misstatements of facts and failure to understand the details of public policy. But in two of his most recent controversial actions, he has taken stands upholding the rule of law and undoing the lawless behavior of his most recent predecessor. The question now is whether the author of "The Art of the Deal" -- and congressional Republicans and Democrats -- can maneuver and compromise on these issues in ways that produce sensible public policy. The first action in question was Trump's Sept. 5 announcement that he would withdraw Barack Obama's Deferred Action for...
  • 5 Ways Republicans Could Ruin Tax Reform

    10/19/2017 3:58:39 PM PDT · by Tolerance Sucks Rocks · 10 replies
    The Daily Signal ^ | October 17, 2017 | Rachel Greszler
    Policymakers want to unleash economic growth in America by fixing our broken tax system. Or so they say. Now that the conversation has moved beyond just lowering tax rates, pro-growth tax reform is in danger of losing the stuff that actually makes it pro-growth. That’s because policymakers are caving to big-government advocates and other special interests. Here are the top five worst ideas that would surely dampen pro-growth tax reform. 1. Failing to enact full expensing. Full expensing—allowing businesses to deduct the full cost of their investments when they incur those costs, instead of spreading them out over many years—is...
  • Constitutional Lawyer: Yes, Obama’s Affordable Care Act Subsidy Provision Was Illegal

    10/17/2017 1:23:18 AM PDT · by Kaslin · 7 replies ^ | October 16, 2017 | Matt Vespa
    There’s are a lot of liberals frothing at the mouth over the Trump administration’s decision to end the unconstitutional subsidies to insurance companies under the Affordable Care Act last week. The subsidies were given to insurance companies to help offset costs from lower-income individuals concerning deductibles and other out-of-pocket expenses. It's meant to prevent premium spikes. And the termination of this subsidy is not just a conservative view or action item, by the way. It’s the opinion of the courts, as the LA Times reported back in May of 2016–it’s unconstitutional: House Republicans won Round 2 in a potentially historic...
  • Trump to end key ACA subsidies, a move that will threaten the law’s marketplaces

    10/12/2017 8:05:12 PM PDT · by NRx · 118 replies
    WaPo ^ | 10-12-2017 | Amy Goldstein
    President Trump is throwing a bomb into the insurance marketplaces created under the Affordable Care Act, choosing to end critical payments to health insurers that help millions of lower-income Americans afford coverage. The decision follows an executive order on Thursday to allow alternative health plans that skirt the law’s requirements. The White House confirmed late Thursday that it would halt federal payments for cost-sharing reductions, although a statement did not specify when. According to two people briefed on the decision, the cutoff will be as of November. The subsidies total about $7 billion this year. Trump has threatened for months...
  • Pro-Trump states most affected by his health care decision [fakenews]

    10/14/2017 7:15:58 AM PDT · by Olog-hai · 16 replies
    Associated Press ^ | Oct 14, 2017 9:47 AM EDT | Christina A. Cassidy and Meghan Hoyer
    President Donald Trump’s decision to end a provision of the Affordable Care Act that was benefiting roughly 6 million Americans helps fulfill a campaign promise, but it also risks harming some of the very people who helped him win the presidency. Nearly 70 percent of those benefiting from the so-called cost-sharing subsidies live in states Trump won last November, according to an analysis by The Associated Press.The subsidies are paid to insurers by the federal government to help lower consumers’ deductibles and co-pays. People who benefit will continue receiving the discounts because insurers are obligated by law to provide them....
  • Trump Tax Plan "Death Blow" to High-Tax States [semi-satire]

    09/29/2017 3:23:50 PM PDT · by John Semmens · 13 replies
    Semi-News/Semi-Satire ^ | 1 Oct 2017 | John Semmens
    A feature of the Trump Administration's proposed tax reform plan that has stirred fear among governors of high-tax states is the elimination of deductions for state income and property taxes. New York Gov. Andrew Cuomo (D) called it a "death blow" for his state. "New York has traditionally relied on high taxes to fund the services we provide for our population," the Governor pointed out. "Resistance to these tax high rates has been moderated by the fact that deductions from federal taxes has helped pass some of the burden onto to states that have lower taxes. If we lose that...
  • US slaps 220 percent duty on Canada's Bombardier jets

    09/27/2017 6:56:42 AM PDT · by Olog-hai · 50 replies
    Associated Press ^ | Sep 26, 2017 10:05 PM EDT | Paul Wiseman and Rob Gillies
    The Commerce Department slapped duties of nearly 220 percent on Canada’s Bombardier C Series aircraft Tuesday in a victory for Boeing that is likely to raise tensions between the United States and its allies Canada and Britain. Commerce ruled that Montreal-based Bombardier used unfair government subsidies to sell jets at artificially low prices in the U.S. “The U.S. values its relationships with Canada, but even our closest allies must play by the rules,” Commerce Secretary Wilbur Ross said. Canada responded by saying it “strongly disagrees” with the U.S. move. “This is clearly aimed at eliminating Bombardier’s C Series aircraft from...
  • Chuck Schumer Says Feds Will Spend $18,000,000 to Buy Grape Juice to Subsidize Vineyard Owners

    08/18/2017 4:38:52 PM PDT · by ForYourChildren · 67 replies
    CNS News ^ | 08/18/2017 | CNS News Staff
    Senate Minority Leader Chuck Schumer (D.-N.Y.) and Sen. Kirsten Gillibrand (D.-N.Y.) announced yesterday that the federal government will spend up to $18,000,000 to buy Concord grape juice in an effort to increase the price that New York farmers can get for their grapes. In a letter to Agricultural Secretary Sonny Perdue urging him to have the government buy the grape juice, Sen. Schumer noted that there are “more than 280 growers with over 9,700 acres” of Concord grape vineyards in New York State. “I write to encourage the United States Department of Agriculture’s (USDA) Agriculture Marketing Service (AMS) to utilize...
  • NY Times: Trump Threat to Obamacare Would Send Premiums and Deficit Skyward

    08/15/2017 1:51:46 PM PDT · by Zakeet · 23 replies
    NY Times ^ | August 15, 2017 | Robert Pear and Thomas Kaplan
    Premiums for the most popular health insurance plans would shoot up 20 percent next year, and federal budget deficits would increase by $194 billion in the coming decade if President Trump carries out his threat to end certain subsidies paid to insurance companies for the benefit of low-income people, the Congressional Budget Office said Tuesday. The subsidies reimburse insurers for reducing deductibles, co-payments and other out-of-pocket costs that low-income people pay when they visit doctors, fill prescriptions or receive care in hospitals. Even before efforts to repeal the Affordable Care Act collapsed in the Senate last month, Mr. Trump began...
  • Elon Musk Is A Very Creative Crony Capitalist

    08/08/2017 4:04:19 AM PDT · by EyesOfTX · 9 replies
    DB Daily Update ^ | 8.8.2017 | David Blackmon
    Elon Musk is a very creative guy. We all know it, and often admire it. He’s the guy who’s going to colonize Mars, the guy who’s going to roof your house with solar shingle and pave highways with solar pavers. He’s also the guy who is now bringing us the Tesla 3 electric motor car, his new, more compact and sporty model for which he claims to have already received 500,000 orders. It’s all so wonderful, and his giant PR operation issues about 27 press releases a week bragging about his every move. Well, ok, not quote every move. Here’s...