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Republican Tax Bill Passes Senate in 51-48 Vote
Republicans took a critical step toward notching their first significant legislative victory since assuming full political control, as the House and Senate voted along party lines on Tuesday and into early Wednesday to pass the most sweeping rewrite of the tax code in decades. The $1.5 trillion tax bill, which is expected to head to President Trump’s desk in the coming days, will have broad effects on the economy, making deep and lasting cuts to corporate taxes as well as temporarily lowering individual taxes. [ read more … ]
What’s in the final Republican tax bill
Anti-Base Erosion Measures prevents companies from shifting profits out of the United States to lower-tax jurisdictions abroad. Sets an alternative minimum tax on payments between U.S. corporations and foreign affiliates, and limits on shifting corporate income through transfers of intangible property, including patents. In combination, these measures with the repatriation and territorial system provisions, represent a dramatic overhaul of the U.S. tax system for multinationals. [ read more … ]
Tax plan puts South Dakota wind industry on edge
While it’s still hard to tell exactly how the final bill will affect the wind energy industry, the bill and its negotiation process could hurt manufacturers and service companies in Sioux Falls other parts of eastern South Dakota, say industry advocates. “We’re going to see the largest construction of wind in South Dakota in the next two to three years,” said Steve Wegman, an analyst for the South Dakota Renewable Energy Association. “What this industry needs, like all industries in their infancy, is stability. And that’s all they’re looking for.” [ read more … ]
Zinke: US reliance on foreign minerals a security risk
he United States is reliant on China and other nations for the overwhelming majority of critical minerals used for manufacturing everything from smartphones to wind turbines and cars, a new federal report says. The report released Tuesday by the U.S. Geological Survey says the U.S. relies on foreign sources for a majority of all but two of the 23 minerals identified as critical. The minerals are produced in China, Russia, South Africa, Brazil and other countries. [ read more … ]
Carper to block Trump’s CEQ pick
Delaware Sen. Tom Carper said yesterday he would object to the Senate holding over the Trump administration’s pending nominees into next year’s session. Carper’s move — which would cause President Trump to resubmit all of his pending nominees next year — targets the nomination of Kathleen Hartnett White for chairwoman of the White House Council on Environmental Quality. [ read more … ]
Trump: Stop ‘unfair trading practices’
President Trump slammed “trading abuse” and “unfair trading practices” yesterday, fueling speculation he is set to slap punitive tariffs on the solar industry and start a global trade war. Trump unveiled a national security strategy that made numerous attacks on China’s theft of intellectual property and said the U.S. would use all available tools to fight trade imbalances. The document further emphasized nationalist themes and “energy dominance.” [ read more … ]
After 16 Years, Hopes for Cape Cod Wind Farm Float Away
At the height of the oil embargo in 1974, Jim Gordon was sitting in a line for gas that extended two blocks, frustrated that the United States had become so dependent on foreign oil. That led him into the clean energy business and, decades later, to plan the nation’s first offshore wind farm, to be called Cape Wind. It would provide clean power to 200,000 homes on Cape Cod and spur the building of other such farms up and down the East Coast. [ read more … ]
Block Island sees benefits of offshore wind farm 1 year out
Block Island residents say a year-old offshore wind farm has positively impacted tourism, but residents also have their concerns and reservations. The Block Island Tourism Council says the island has seen increased tourism for people coming to see the wind farm. Rhode Island Public Radio reports that the farm has been a boon for mainland Rhode Island residents — providing nearly 2,000 people with money-saving power. [ read more … ]
Note: News clips provided do not necessarily reflect the views of coalition or its member governors.