Joe Biden’s landmark climate legislation has been “disappointing” and failed to deliver protections to car industry workers confronted by the transition to electric vehicles, according to the head of the US’s leading autoworkers union, which has pointedly withheld is endorsement of the president for next year’s election.

One year since the U.S. passed the Inflation Reduction Act, the most ambitious climate bill in the country’s history, clean energy is booming. Especially in Texas — which might come a surprise given the crucial role the oil industry plays in the state.

But Texas also tells the future about where we’re headed. The world is not moving fast enough: if the the US doesn’t dramatically speed up, it will miss its climate goals.

Last year, a Democratic-led Congress jammed through President Joe Biden’s deceitfully titled Inflation Reduction Act. This massive spending bill had nothing to do with reducing inflation and everything to do with force-feeding leftist policy dreams on hardworking taxpayers .

This was especially clear when Democrats inserted massive amounts of Green New Deal energy handouts into the bill. And unless we change course, we very well may look back at this misguided effort as the undoing of American hegemony.

Washington’s budget wonks may have underestimated the size of Joe Biden’s signature climate legislation, the Inflation Reduction Act, when it passed last year — and by a lot.

At the time, Capitol Hill’s official scorekeepers predicted that the bill’s tax credits for clean energy and green manufacturing would cost about $270 billion over a decade — making it the country’s largest ever investment in decarbonization.

The U.S. Internal Revenue Service (IRS) announced new guidance on how it will interpret President Joe Biden’s signature Inflation Reduction Act (IRA), leaving the door open for European automakers to cash in on the bill’s subsidies.

Fewer new electric vehicles will qualify for a full $7,500 federal tax credit later this year, and many will get only half that, under rules proposed Friday by the U.S. Treasury Department.

The rules, required under last year’s Inflation Reduction Act, are likely to slow consumer acceptance of electric vehicles and could delay President Joe Biden’s ambitious goal that half of new passenger vehicles sold in the U.S. run on electricity by 2030.

The U.S. Treasury Department on Friday unveiled stricter electric vehicle tax rules that will reduce or cut tax credits on some zero-emission models but grant buyers another two weeks before the new requirements take effect.

The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs or plug-in hybrids.

Eli Lilly will cap the out-of-pocket cost of its insulin at $35 a month, the drugmaker said Wednesday. The move, experts say, could prompt other insulin makers in the U.S. to follow suit.

The change, which Eli Lilly said takes effect immediately, puts the drugmaker in line with a provision in the Inflation Reduction Act, which last month imposed a $35 monthly cap on the out-of-pocket cost of insulin for seniors enrolled in Medicare. 

More electric vehicles will qualify for a $7,500 tax credit under changes revealed Friday by the federal government, a move that follows pressure from auto industry lobbyists to better define the eligibility requirements. 

The Treasury Department said Friday it was modifying how it classifies vehicles subject to certain price caps set under the Inflation Reduction Act, which made revisions to the subsidy rules. The move effectively expands the population of eligible vehicles. 

The U.S. Treasury Department said Friday it will make more Tesla (TSLA.O), Ford Motor (F.N), General Motors (GM.N) and Volkswagen (VOWG_p.DE) electric vehicles eligible for up to $7,500 tax credits after it revised its vehicle classification definitions.

The reversal by Treasury is a win for Tesla, GM, Ford and other automakers which had pressed the Biden administration to change the vehicle definitions.