
Energy Department to Gut Funding for Solar and Wind Projects
The cuts, which would take money away from projects budgeted for the fiscal year that ends Sept. 30, focus on solar and wind projects, as well as state and local assistance for low-income families, according to an Energy Department document reviewed by The New York Times and Democratic lawmakers in Washington. Critics argue that the moves are illegal because Congress had previously approved the funding for specific projects.
In a joint statement about the funding changes, ranking Democrats on the Senate and House energy subcommittees called it a 'reckless decision' and demanded the agency immediately reverse its action. They argued that the moves would harm efforts to strengthen U.S. energy independence and drive up costs for all consumers.
'This outrageous, unlawful decision by the Trump administration is a direct attack on our energy independence and American families' ability to afford their monthly energy bill,' wrote Senator Patty Murray, Democrat from Washington, and Representative Marcy Kaptur, an Ohio Democrat. 'This isn't a bureaucratic misstep — it's a deliberate, partisan effort to sabotage bipartisan law and redirect funding.'
In response to inquiries about the cuts, an Energy Department spokeswoman said in a statement that the agency is working to 'instill a culture of transparence, performance and common sense.'
'The Department of Energy is working to advance its critical mission of unleashing affordable, reliable and secure energy for all Americans while increasing efficiency and promoting better stewardship of taxpayer dollars,' the spokeswoman said. The new funding levels 'help ensure that the Department accomplishes its critical mission for the American people.'
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JD Vance latest GOP politician to enter Syndey Sweeney jeans ad debate
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Amazon Falls on Fears That AWS Is Losing Market Share: Should You Buy the AMZN Stock Dip Here?
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Does That Make TSLA Stock a Safe Buy Here? Can AMD Stock Hit $210 in 2025? Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Amazon Q2 Earnings Analysis Amazon reported revenues of $167.7 billion in the quarter that easily surpassed the $162.09 billion that analysts were expecting. The company's earnings per share came in at $1.68, ahead of the $1.33 that analysts were modeling. The company guided for Q3 revenues between $174 billion and $179.5 billion, implying a YoY growth between 10%-13%, which was better than Street estimates. However, management guided for Q3 operating income between $15.5 billion and $20.5 billion, with the midpoint of that range trailing the consensus estimate of $19.48 billion. 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Why NuScale Power Stock Crashed Today
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