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America One News
27 Dec 2024
#politics
Fox News: Hochul signs bill that will charge oil and gas firms $75B, but critics say customers will really foot the tab
New York Governor Kathy Hochul has signed the Climate Change Superfund Act, imposing an estimated $75 billion charge on oil and gas companies over 25 years to address climate change. Proponents argue it holds major polluters accountable, while critics warn it will raise energy costs for consumers and face legal challenges.
The law targets 38 firms, including major international players, with significant annual assessments based on CO2 emissions. Opponents express concerns about its practicality and the potential for increased costs to households and businesses, especially amid other upcoming environmental regulations.
#economy
GB News: Haulier's heartbreaking message after ‘crippling’ budget: ‘Dad said we’d be better off if he went to Switzerland’
Family businesses are expressing deep concern over Rachel Reeves' proposed inheritance tax changes, which could impose a £6 million bill on some upon the death of a business owner. Businessman Ed Rogers shared the emotional toll, stating these policies could lead to asset sales, job losses, and a stifling of growth.
Economists warn that the tax changes may ultimately cost the Treasury more than they generate, with predictions of significant job losses and reduced tax revenue. The impact on family businesses, particularly in sectors like agriculture and transport, could be severe, prompting calls for reevaluation of the proposed measures.
GB News: Energy bills update: Heat pumps EXPOSED as rollout 'fully or partially funded' by Britons' taxes
The UK Government's heat pump initiative is significantly funded by taxpayers, with programs like the Boiler Upgrade Scheme providing grants to households for transitioning from gas boilers. Despite claims of long-term savings on energy bills, experts warn that the reliance on public subsidies makes the heat pump market fragile.
As the Labour Party aims to expand the Warm Homes Plan, critics express concern that without continued financial support, heat pump sales could decline, mirroring trends seen in Europe. The sustainability of this green agenda is questioned, especially if costs remain higher than traditional heating methods.