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Economics

What happens if the Inflation Reduction Act goes away?

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“IT’LL BE somewhere between a scalpel and a sledgehammer,” was how Mike Johnson, speaker of the House, described the emerging Republican approach to the Inflation Reduction Act (IRA), Joe Biden’s signature climate law. Pressure from companies and congressmen with clean-energy projects benefiting from its subsidies in their districts (most are found in Republican counties) suggested surgical precision would prevail. But relentless pressure to abolish the IRA from the president, who is a fan of drilling, baby, drilling and denounced the law as the “Green New Scam,” pointed instead to brute force. The president reinforced this by dropping in on a private party caucus on May 20th to strong-arm waverers and threaten dissenters with a MAGA primary challenge. “They won’t be Republicans much longer…they’d be knocked out so fast,” he declared.

Economics

Checks and Balance newsletter: Of God and MAGA

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Charlotte Howard, our executive editor and New York bureau chief, unpacks the blurring of church and state among Donald Trump’s circle

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Economics

The Hudson is now so clean that everyone can eat from it

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Battery sashimi, anyone?

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Economics

Pete Hegseth’s Pentagon is a lethality-maxxing wasps’ nest

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America’s armed forces are supremely capable and roiled by infighting

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