Biden touts job growth and slowing inflation rates in speech on economy

Published

2 years ago

January 26, 2023

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President Joe Biden cheered the news of higher than expected GDP growth and slammed Republican plans to impose a national sales tax in a speech Thursday at a steamfitters union hall in Springfield, Va., his first major economic speech of the new year.

“I’m not sure the news could have been any better – economic growth is up stronger than experts expected, 2.9%,” Biden said, referencing a report released earlier Thursday by the Commerce Department. “I don’t think it’s unfair to say that this is all evidence that Biden economic plan is actually working.”

Biden spent much of the second half of 2022 asking Americans to bear with him through historically high gas prices and inflation. In previous speeches, he’s acknowledged the economic pain many Americans are feeling, while pointing to strong economic reports that show his policies are finally taking hold.

Data from the past month has been positive: the U.S. is at its lowest unemployment rate in 50 years and, over the past two years, job growth has been at its strongest rate ever, although that’s partially due to the historic drop during the 2020 pandemic lockdowns. Though consumer prices are still higher than they were a year ago, Biden has pointed to a slow down in the pace at which they are rising.

The overall consumer price index, a common measure of inflation, dropped 0.1% in December from the prior month, marking the largest month-over-month decrease since April 2020.

Biden warned legislation proposed by House Republicans would reverse that progress and inflict more pain on the economy.

“MAGA Republicans in the House of Representatives are threatening to destroy this economy, this progress. Look, this ain’t your father’s Republican Party. It’s a different breed of cat,” Biden said.

He cited a Republican proposal to eliminate the IRS and national income tax and implement a 30% national sales tax. Republican House Speaker Kevin McCarthy promised the bill’s backers he would put the legislation up to a vote as part of his deal to secure support for his speakership. McCarthy on Tuesday told reporters he does not support the bill.

“They want to impose a 30% national sales tax on everything from food, clothing, school supplies, housing cards, the whole deal – 30%,” Biden said. “They want to eliminate the income tax system because guess what? That’s the only way that millionaires and billionaires have to pay any taxes.”

The bill is dead on arrival without McCarthy’s support and has no chance of passing the Democratic-majority Senate. Still, Biden vowed to veto if it made it to his desk.

“Why why? This nation has gone through too much, we’ve come too far to let that happen. Not on my watch. I’ll veto whatever they send me,” he said.

Biden’s speech also comes as Republicans in Congress prepare for a standoff with the White House on the debt ceiling. The White House has repeatedly said Congress should automatically lift it as it’s routinely done for years, adding that it will not allow Republicans to hold it hostage to get other policies through. House Republicans have threatened to withhold support unless measures are implemented to cut spending, a position that they ignored during the Trump administration and previous Republican presidents.

The debt ceiling is the legal limit set by Congress of how much the federal government can borrow. It covers federal programs that have already been authorized by Congress, not new spending. Failing to lift the debt ceiling could lead the U.S. to default on its bond payments, potentially causing catastrophic effects on the economy.

The last time the U.S. was close to defaulting on its debt in 2011, the move caused Standard & Poor’s to issue its first ever downgrade of the government’s credit rating. The environment then was similar to the situation currently playing out where a newly-elected Republican majority refused to lift the debt ceiling under a Democratic president.

A Moody’s Analytics report from September 2021 said a default on Treasury bonds could throw the U.S. economy into a tailspin as bad as the Great Recession. Moody’s projected a 4% GDP decline and the loss of nearly 6 million jobs if the U.S. defaulted.

The U.S. hit its $34.1 trillion debt limit last week. Treasury Secretary Janet Yellen said the agency has started taking “extraordinary measures,” like suspending some investments in federal employees retirement funds, to keep the U.S. from missing its debt payments.

Environment

Quick Charge | hydrogen hype falls flat amid very public failures

Published

7 hours ago

April 3, 2025

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Quick Charge | hydrogen hype falls flat amid very public failures

On today’s hyped up hydrogen episode of Quick Charge, we look at some of the fuel’s recent failures and billion dollar bungles as the fuel cell crowd continues to lose the credibility race against a rapidly evolving battery electric market.

We’re taking a look at some of the recent hydrogen failures of 2025 – including nine-figure product cancellations in the US and Korea, a series of simultaneous bus failures in Poland, and European executives, experts, and economists calling for EU governments to ditch hydrogen and focus on the deployment of a more widespread electric trucking infrastructure.

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New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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Looking for an EV lease under $200 a month? Here’s what’s available in April

Published

9 hours ago

April 3, 2025

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Looking for an EV lease under 0 a month? Here's what's available in April

Believe it or not, you can lease an EV for under $200 a month. New deals on models like the 2025 Hyundai IONIQ 5 and Kia EV6 are hard to pass up this month.

Electric vehicles have been all over the news lately, with the Trump administration threatening to end federal incentives and introducing new tariffs that are expected to lead to higher prices.

On the positive side, new EV models are arriving, giving buyers more options and driving prices down. Many automakers reported record US electric car sales in the first three months of 2024.

GM remained the number two seller of EVs behind Tesla after sales doubled in Q1 2025. With the new Equinox, Blazer, and Silverado EVs rolling out, Chevy is now the fastest-growing EV brand in the US. Ford’s Mustang Mach-E is off to its best sales start since launching, with over 11,600 models sold in the first quarter.

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With the 2025 models rolling out and about 15 new EVs arriving this year, many automakers are introducing steep discounts to move vehicles off the lot.

EVs for lease for under $200 a month in April

Although the decade-old Nissan LEAF remains one of the most affordable this April at just $149 per month, there are a few EVs under $200 right now that are worth taking a look at.

The new 2025 Hyundai IONIQ might be the best EV deal this month, with leases as low as $199. Hyundai is currently promoting a 24-month lease deal with $3,999 due at signing.

Hyundai upgraded the electric SUV with a bigger battery for more range (now up to 318 miles), a sleek new look inside and out, and it now comes with an NACS port so you can charge it at Tesla Superchargers.

The offer is for the IONIQ 5 SE RWD Standard Range, which has a driving range of up to 245 miles. For just $229 a month, you can snag the SE RWD model, which has a range of up to 318 miles and a more powerful (225 horsepower) electric motor. It’s also a 24-month lease with $3,999 due at signing.

Hyundai-2025-IONIQ-5-interior — 2025 Hyundai IONIQ 5 Limited interior (Source: Hyundai)

To sweeten the deal, Hyundai is offering a free ChargePoint Home Flex Level 2 EV charger with the purchase or lease of any 2024 or 2025 IONIQ 5. If you already have one, you can opt for a $400 public charging credit.

After slashing lease prices this month, the 2025 Nissan Ariya is actually cheaper than the LEAF in some regions. In Southern California, the 2025 Nissan Ariya Evolve AWD is listed at just $129 per month. The AWD model has a range of up to 272 miles.

The deal is for 36 months, with $4,409 due at signing. In April, Nissan cut Ariya lease prices to around $239 in most other parts of the country.

Kia has a few EVs available to lease for under $200 a month in April. The 2025 Kia Niro EV Wind is listed at just $129 for 24 months, with $3,999 due at signing. Kia’s crossover SUV has EPA-estimated range of 253 miles.

The 2024 EV6 may be worth considering at just $179 for 24 months ($3,999 due at signing). In California, the EV6 Light Long Range RWD is only slightly more than the Niro Wind.

In most other parts of the country, you can still find the EV6 for under $200 a month. The Light Long Range RWD trim offers up to 310 miles of EPA-estimated range.

	Lease Price	Term (months)	Amount Due at Signing	Driving Range
2025 Hyundai IONIQ 5 SE RWD Standard Range	$199	24	$3,999	245 miles
2024 Kia EV6 Light Long Rang RWD	$179	24	$3,999	310 miles
2024 Kia Niro EV Wind	$129	24	$3,999	253 miles
2025 Nissan Ariya Evolve AWD	$129	36	$4,409	272 miles
2025 Nissan LEAF S FWD	$149	36	$2,629	149 miles
2024 Fiat 500 INSPI(RED)	$199	24	$2,999	149 miles

EVs for lease for under $200 a month in April 2025

And don’t forget the 2024 Fiat 500e, which is now listed at just $199 for 24 months with $2,999 due at signing. The electric hatchback offers a range of up to 149 miles.

If you are looking to spend a little more, check out our list of EVs you can lease for under $300 a month.

Ready to snag the savings while they are still here? At under $200 a month, some of these EV lease deals are hard to pass up right now. Check out our links below to find deals in your area.

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Environment

The US’s first solar panels over canals pilot is now online [video]

Published

10 hours ago

April 3, 2025

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The US’s first solar panels over canals pilot is now online [video]

US solar panels canals — Image: Project Nexus

Project Nexus, the first solar panel canopies over irrigation canals in the US, is now online in California, and there are plans to expand the project to other areas.

Project Nexus is a $20 million pilot in central California’s Turlock Irrigation District launched in October 2022. The project team is exploring solar over canal design, deployment, and co-benefits using canal infrastructure and the electrical grid.

India already has solar panels over canals, but Project Nexus is the first of its kind in the US.

The Turlock Irrigation District was the first irrigation district formed in California in 1887. It provides irrigation water to 4,700 growers who farm around 150,000 acres in the San Joaquin Valley.

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Project Nexus will explore whether the solar panels reduce water evaporation as a result of midday shade and wind mitigation, create improvements to water quality through reduced vegetative growth, reduce canal maintenance as a result of reduced vegetative growth, and, of course, generate renewable electricity.

The California Department of Water Resources, utility company Turlock Irrigation District, Marin County, California-based water and energy project developer Solar AquaGrid, and The University of California, Merced, are partnering on the pilot. Project Nexus originated from a 2021 research project led by UC Merced alumna and project scientist Brandi McKuin.

Solar panels were installed at two sites over both wide- and narrow-span sections of Turlock Irrigation District canals in Stanislaus County, in various orientations. The sections range from 20 feet wide to 100 feet wide. University of California, Merced has positioned research equipment at both sites to collect baseline data so the researchers can decide where solar will work and where it won’t.

In February 2023, Project Nexus announced it would also deploy long-term iron flow battery storage in the form of two ESS 75kW turnkey “Energy Warehouse” batteries.

You can learn more about Project Nexus here:

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