BEGIN:VCALENDAR VERSION:2.0 PRODID:-//InvisionCommunity Events 5.0.18//EN METHOD:PUBLISH CALSCALE:GREGORIAN REFRESH-INTERVAL:PT15M X-PUBLISHED-TTL:PT15M X-WR-CALNAME:RMCommunityCalendar NAME:RMCommunityCalendar BEGIN:VTIMEZONE TZID:Europe/London TZURL:https://tzurl.org/zoneinfo/Europe/London X-LIC-LOCATION:Europe/London BEGIN:DAYLIGHT TZOFFSETFROM:+0000 TZOFFSETTO:+0100 TZNAME:BST DTSTART:20240331T020000Z RRULE:FREQ=YEARLY;BYMONTH=3;BYDAY=-1SU END:DAYLIGHT BEGIN:STANDARD TZOFFSETFROM:+0100 TZOFFSETTO:+0000 TZNAME:GMT DTSTART:20241027T020000Z RRULE:FREQ=YEARLY;BYMONTH=10;BYDAY=-1SU END:STANDARD END:VTIMEZONE BEGIN:VEVENT SUMMARY:Economic Corner 3 - December 8th 2024 DTSTAMP:20251122T072621Z SEQUENCE:0 UID:597-7-c3fe8195a3dde498d013e477e2142422@aalbc.com ORGANIZER;CN="richardmurray":noreply@aalbc.com DESCRIPTION:\n A writer for the Home Box Office show The Watchman said h e didn't comprehend why writers write stories assuming another season. Tha t truth can be applied to many government officials. From Eric Adams city of yes\, to Nancy Pelosi's affordable care act elected officials in modern ity love policies that extend beyond their time in office. The fiscal ques tion of value to the economic corner\, is the financial wisdom in policy t hat assumes government officials in the future will support the policy as intended or at all. \n\n\n\n I argue policy with fiscal actions beyond a time of office is one hundred percent financially inappropriate. Why? it i s a financial gamble. And gambling is never the best financial strategy.  \n\n\n\n The proof is\, all the actions Biden is taking to use up money or place money for certain projects in the bureaucracy may not work. \n\n\n \n  \n\n\n\n ARTICLE\n\n\n\n  \n\n\n\n The last actions the Biden admini stration will take before Trump takes over the White House\n\n\n\n  \n\n\ n\n By  FATIMA HUSSEIN\, MATTHEW DALY and COLLIN BINKLEY\n\n\n\n Upda ted 5:24 AM EST\, November 15\, 2024\n\n\n\n  \n\n\n\n WASHINGTON (AP) — Biden administration officials are working against the clock doling ou t billions in grants and taking other steps to try to preserve at least so me of the outgoing president’s legacy before President-elect Donald Trum p takes office in January.\n\n\n\n “Let’s make every day count\,” Pr esident Joe Biden said in an address to the nation last week after Vice Pr esident Kamala Harris conceded defeat to Trump in the presidential race. \n\n\n\n Trump has pledged to rescind unspent funds in Biden’s landmark climate and health care law and stop clean-energy development projects .\n\n\n\n “There’s only one administration at a time\,” Transportati on Secretary Pete Buttigieg told reporters at a news conference Thursday. “That’s true now\, and it will also be true after January 20th. Our re sponsibility is to make good use of the funds that Congress has authorized for us and that we’re responsible for assigning and disbursing througho ut the last three years.”\n\n\n\n  \n\n\n\n But Trump will control more than the purse strings come January. His administration also can propose new regulations to undo some of what the Biden administration did through the rule-making process.\n\n\n\n Here are some of the moves the Biden admi nistration is taking now:\n\n\n\n  \n\n\n\n Getting infrastructure spendi ng out the door\n\n\n\n  \n\n\n\n Biden administration officials hope tha t projects funded under the $1 trillion infrastructure law and $375 billio n climate law will endure beyond Biden’s term and are working to ensure that money from the landmark measures continues to flow.\n\n\n\n On Friday \, Buttigieg announced over $3.4 billion in grants for projects designed t o improve passenger rail service\, help U.S. ports\, reduce highway deaths and support domestic manufacturing of sustainable transportation material s.\n\n\n\n ”We are investing in better transportation systems that touch every corner of the country and in the workers who will manufacture mater ials and build projects\,″ he said. “Communities are going to see safe r commutes\, cleaner air and stronger supply chains that we all count on .″\n\n\n\n  \n\n\n\n Speeding up environmental goals\n\n\n\n  \n\n\n\n Announcements of major environmental grants and project approvals have sp ed up in recent months in what White House officials describe as “sprint ing to the finish” of Biden’s four-year term.\n\n\n\n The Environmenta l Protection Agency recently set a nationwide deadline for removal of lea d pipes and announced nearly $3 billion to help local water systems compl y. The agency also announced that oil and gas companies for the first time will have to pay a federal fee if they emit dangerous methane above cer tain levels.\n\n\n\n The Energy Department\, meanwhile\, announced a $544 million loan to a Michigan company to expand manufacturing of high-quality silicon carbide wafers for electric vehicles. The loan is one of 28 deals totaling $37 billion granted under a clean-energy loan program that was r evived and expanded under Biden.\n\n\n\n “There is a new urgency to get it all done. We’re seeing explosions of money going out the door\,” sa id Melinda Pierce\, legislative director of the Sierra Club. Biden and his allies ”really want to finish the job they started.”\n\n\n\n  \n\n\n \n Ukraine aid\n\n\n\n  \n\n\n\n Pentagon press secretary Sabrina Singh t old reporters this week that Biden wants to “spend down the authority th at Congress has allocated and authorized before he leaves office. So we’ re going to work very hard to make sure that happens.”\n\n\n\n The Biden administration would have to rush $7.1 billion in weapons — $4.3 billio n from the 2024 supplemental and $2.8 billion that is still on the books i n savings due to the Pentagon recalculating the value of systems sent — from the Pentagon’s stockpiles in order to spend all of those funds obli gated before Trump is sworn in.\n\n\n\n There’s also another $2.2 billio n available to put weapons systems on long-term contracts. However\, recen t aid packages have been much smaller in size\, around $200 million to $30 0 million each.\n\n\n\n Defense Secretary Lloyd Austin has said the funds are already obligated\, which should make them harder to take back because the incoming administration would have to reverse that.\n\n\n\n  \n\n\n\ n Pressure to quickly confirm judicial picks\n\n\n\n  \n\n\n\n Another pr iority for the White House is getting Senate confirmation of as many fede ral judges as possible before Trump’s inauguration on Jan. 20.\n\n\n\n The Senate this week voted 51-44 to confirm former prosecutor April Perry as a U.S. District Court judge in northern Illinois. More than a dozen pe nding judicial nominees have advanced out of the Senate Judiciary Committ ee\; eight judicial nominations are awaiting committee votes and six are w aiting for committee hearings.\n\n\n\n Trump has urged Republicans to oppo se efforts to confirm judicial nominees. “No Judges should be approved d uring this period of time because the Democrats are looking to ram through their Judges as the Republicans fight over Leadership\,” he wrote on so cial media site X on Nov. 10\, before congressional Republicans chose thei r new leaders.\n\n\n\n  \n\n\n\n Student loan forgiveness\n\n\n\n  \n\n\ n\n The Education Department has been hurrying to finalize a new federal r ule that would cancel student loans for people who face financial hardship . The proposal — one of Biden’s only student loan plans that hasn’t been halted by federal courts — is in a public comment period scheduled to end Dec. 2.\n\n\n\n After that\, the department would have a narrow win dow to finalize the rule and begin carrying it out\, a process that usuall y takes months. Like Biden’s other efforts\, it would almost certainly f ace a legal challenge.\n\n\n\n Additionally\, the Biden administration has room to speed up student loan cancellation for people who were already pr omised relief because they were cheated by their colleges\, said Aaron Ame nt\, an Education Department official for the Obama administration and pre sident of the National Student Legal Defense Network.\n\n\n\n Education Se cretary Miguel Cardona could decide that case and others rather than hand them off to the Trump administration\, which is expected to be far friendl ier to for-profit colleges. “It’s a no-brainer\,” Ament said. “T here’s a good number of cases that have been sitting on Cardona’s desk . It’s hard to imagine that those would just be left untouched.”\n\n\n \n Trump has not yet said what he would do on student loan forgiveness. H owever\, he and Republicans have criticized Biden’s efforts.\n\n\n\n  \ n\n\n\n https://apnews.com/article/elections-trump-transition-biden-tax-sp ending-2c27fb2239640fdb667f274215b712fa\n\n\n\n  \n\n\n\n Prior Episode\n \n\n\n Economic Corner 2\n\n\n\n  \n\n\n\n Post URL\n\n\n\n https://aalbc .com/tc/topic/11358-economiccorner003/\n\n\n\n Prior Edition\n\n\n\n https ://aalbc.com/tc/events/event/596-economic-corner-2-december-7th-2024/\n\n\ n\n Next Edition\n\n\n\n  \n\n DTSTART;VALUE=DATE:20241208 RRULE:FREQ=YEARLY;INTERVAL=1 END:VEVENT END:VCALENDAR