Chuck Schumer

The legislation, which passed the Senate 51-50 on Sunday with a tiebreaking vote by Vice President Kamala Harris, offers tax incentives for reducing carbon emissions, seeks to allow Medicare to negotiate the price of some prescription drugs, allots roughly $80 billion to the Internal Revenue Service and extends subsidies for health insurance under the Affordable Care Act. Along with a new 15% corporate minimum tax, it creates a 1% excise tax on companies’ stock…

Electric-vehicle startup Rivian Automotive Inc. is warning that planned revisions to the EV tax credit would put the young car maker at a disadvantage to more-established competitors.The proposed changes to the federal tax subsidy, which has been in place for years as a way to make EVs more affordable, are part of a broader legislative package deal between Sen. Joe Manchin (D., W.Va.) and Senate Majority Leader Chuck Schumer (D., N.Y.) to cut carbon emissions…

Hmmm.Photo: Francis Chung/E&E News/POLITICO (AP)On Wednesday evening, Sen. Joe Manchin (D-WV) and Sen. Chuck Schumer (D-NY) announced that they had reached a climate compromise in a new package of reforms, marking a sudden reversal on climate from Manchin that surprised basically everyone in Washington. The new legislation, which comes less than two weeks after Manchin said he wouldn’t agree on any climate provisions during the reconciliation process, earmarks $369 billion for energy security and climate change over…

Senate Democrats are poised to raise taxes on a key source of private-equity managers’ income, capping a 15-year quest to close what many lawmakers see as an egregious gap in the tax code.The tax increase on carried-interest income, which is tied to the performance of investments when they are sold, had seemed dead until late Wednesday. But then Sens. Joe Manchin (D., W.Va.) and Chuck Schumer (D., N.Y.) included it in a last-minute deal that the Senate could pass as soon as next week. It’s…

The call for climate action is coming from the inside the House. More than a dozen congressional staffers occupied the Washington D.C. office of Senate Majority Leader Chuck Schumer today, in a protest demanding that Congress pass policy to combat climate change. Less than an hour after the demonstration began, Capitol police arrived and arrested many of the staffers, according to a series of tweets and photos from New Yorker journalist, Andrew Marantz.In an emailed statement to Gizmodo, U.S. Capitol Police said the…

Several US semiconductor firms are deliberating whether to oppose a package of chip industry subsidies if the final language of the legislation awaiting a vote in the Senate disproportionately benefits manufacturers like Intel Corp, sources familiar with the matter told Reuters. Senate Majority Leader Chuck Schumer has told lawmakers that a vote could come as early as Tuesday on a slimmed-down set of bills to bolster the US computer chip industry, after Democratic lawmakers cleaved them from a larger, more contentious…

Over a year after passing its first version of a bill boosting semiconductor competition with China, the US Senate was due to vote on a slimmed-down version of legislation to provide more than $50 billion in subsidies for the computer chip industry. The Senate's Democratic majority leader, Chuck Schumer, announced that the first procedural vote would take place, calling US semiconductor manufacturing a matter of national security as well as a source of jobs. Senate aides said the goal is to pass the bill by early next…

Rep. Kelly Armstrong, a member of the House Subcommittee on Consumer Protection, accompanies House Minority Leader Kevin McCarthy outside for a press conference on Capitol Hill in Washington, Tuesday, July 27, 2021.Photo: Associated Press (AP)House Republicans want to drastically change a federal privacy bill that Democrats in the Senate are also threatening to murder. The American Data Privacy and Protection Act (ADPPA) is one of the few pieces of privacy legislation to get the time of day on CapitolHill in the last few…

Comedian John Oliver decided to wade into the antitrust battleground this week, and he didn’t hold back any punches.Oliver devoted 25 minutes of his most recent Last Week Tonight show to discuss general Big Tech badness and advocated in favor of a pair of historic antitrust bills currently being considered in Congress. The comedian zeroes in on claims made by advocacy groups and small businesses that giants like Google and Meta engage in anti-competitive, self-preferencing behavior that essentially cements their status as…