Latest news with #BeautifulBillAct
Yahoo
14 hours ago
- Business
- Yahoo
First Solar raises annual sales outlook, expects higher prices due to tariffs
(Reuters) -First Solar raised its annual sales forecast on Thursday, as the U.S. solar panel maker expects higher prices for its products following additional tariffs on foreign-made panels. Shares of the Tempe, Arizona-based company rose over 4% after the bell. The solar industry, which has grappled with lackluster demand and high interest rates, is now bracing for the impact of U.S. President Donald Trump's policies related to renewable energy as well as his plans to impose tariffs on most imports. While Trump's sweeping tax and spending bill - dubbed the "One Big, Beautiful Bill Act" (OBBBA) - aims to phase out solar and wind tax credits by 2028, the U.S. tariffs are expected to improve the outlook for solar companies. "In our view, the recent policy and trade developments have, on balance, strengthened First Solar's relative position in the solar manufacturing industry," CEO Mark Widmar said. Earlier this month, U.S. solar panel makers, including First Solar, asked the U.S. Commerce Department to impose tariffs on imports from Indonesia, India and Laos, as they sought to protect their recent investments and better compete with Chinese rivals. The industry is also expected to benefit from rising demand for power as corporations and governments increasingly adopt cleaner sources of power to combat climate change. First Solar now expects current-year net sales to be between $4.9 billion and $5.7 billion, compared with its previous projection of $4.5 billion and $5.5 billion. Analysts, on average, estimated the company's 2025 net sales at $5.07 billion, according to data compiled by LSEG. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Most Utahns support Trump's ‘big, beautiful bill' — even though they think it will raise the debt
WASHINGTON — Most Utah voters say they support the massive tax package passed by Congress earlier this month expediting much of President Donald Trump's domestic agenda — even though they admit it will likely add to the national debt over the coming years. Half of Utah voters (50%) say they support the 'Big, Beautiful Bill Act' as it was passed in early July, with only 38% saying they oppose the measure, according to a new Deseret News/Hinckley Institute of Politics poll conducted by HarrisX. Another 12% said they were unsure. Nearly all Utah voters (83%) said they were aware of what the massive bill was and what policy measures it contained before it was signed by Trump on July 4. But many of these same voters acknowledge the bill could have financial consequences. Voters split along party lines when asked if they thought the flagship legislation — which extends Trump's 2017 tax cuts while greenlighting billions of dollars in spending cuts to Medicaid and other welfare programs — would improve or worsen the economy, the poll showed. More than half (54%) of voters say the package will improve the economy compared to 46% who said the opposite. Republicans make up most of those in favor, with 75% of self-identified Republican voters saying they believe the economy will grow compared to just 12% of Democrats who said the same. Still, GOP voters appear to admit the national debt could become worse because of the newly enacted policies. More than half (52%) of voters say the debt will increase because of the domestic policy package, according to the poll. When split by party, 40% of Republicans say the deficit will increase compared to just 35% who said the debt would decrease. Another 26% said they did not think it would make a difference. It's not surprising so many Republicans stand behind the bill, according to Jason Perry, director of the Hinckley Institute of Politics. However, he noted voters also see some drawbacks to the signature legislation. 'What stands out is the hesitation some voters express about specific impacts, like the effect on the national debt,' Perry told the Deseret News. 'People can support big policy changes even if feeling uncertain about parts of it. In this case, many Republican voters recognize the bill may increase the debt but still back it because they believe in the broader message or trust the people leading the effort. Rather than a contradiction, this reflects how voters often weigh tradeoffs.' On the other hand, a plurality of Republican voters (41%) say inflation will go down due to the bill. Only 31% of Republicans believe inflation would go up as a result of the legislation, according to the poll. The poll comes as Republicans return home for the August recess and lawmakers must begin campaigning for next year's midterm elections — with the 'big, beautiful bill' likely to be the biggest messaging tool for both parties. Congress passed the massive tax package just before the July Fourth holiday, enacting the president's domestic policy agenda ranging from border security to energy production to tax reform. The budget framework also approves trillions of dollars in spending cuts to government programs like Medicaid to offset the costs of permanent tax cuts expected to take effect at the end of this year. Trump and GOP leaders are imploring their members to defend the budget behemoth to their constituents, particularly those who are running for reelection in tight races. But that could be easier said than done, as polling shows the bill underwater on the national stage due to concerns it will raise costs and hurt the economy. While the package greenlights roughly $4.5 trillion in tax cuts, the full package is projected to increase the national deficit by $3.4 trillion over the next 10 years, according to the nonpartisan Congressional Budget Office. Much of the new federal spending comes from provisions on military and immigration costs while stripping funds from some welfare programs and green energy tax credits. The Deseret News/Hinckley Poll was conducted by HarrisX between July 9-16 among 802 registered Utah voters. It has a margin of error of plus or minus 3.5 percentage points.
Newsweek
3 days ago
- Politics
- Newsweek
Republican Suffers Broken Rib After Being Kicked By Horse: What To Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Rep. Tim Burchett, R-Tenn., is recovering from a broken rib and bruises after being accidentally kicked by a horse on his farm over the weekend, The Hill reports. His office says the injury hasn't disrupted his schedule. Rep. Tim Burchett (R-TN) talks to reporters at the U.S. Capitol on July 03, 2025 in Washington, DC. House Republicans continue their work to pass the One, Big, Beautiful Bill Act, President Trump's sweeping tax... Rep. Tim Burchett (R-TN) talks to reporters at the U.S. Capitol on July 03, 2025 in Washington, DC. House Republicans continue their work to pass the One, Big, Beautiful Bill Act, President Trump's sweeping tax and spending bill. MoreThis is a breaking news story. Updates to follow.
The Hill
3 days ago
- Business
- The Hill
Hawley introduces bill to provide $600 tariff rebates to adults and children
Sen. Josh Hawley (R-Mo.) has introduced legislation to provide $600 tariff rebates to almost all Americans and to their dependent children, which would give $2,400 to a family of four. Hawley said in a statement that 'Americans deserve a tax rebate after four years of Biden policies that have devastated families' savings and livelihoods.' 'Like President Trump proposed, my legislation would allow hard-working Americans to benefit from the wealth that Trump's tariffs are returning to this country,' he said. The legislation would be modeled on the direct payments Congress authorized in the 2020 CARES Act, which provided $1,200 direct payments to adults and $500 direct payments to children. Hawley teamed up with Sen. Bernie Sanders (I-Vt.) in 2020 to advocate for a second round of $1,200 stimulus checks during the COVID-19 pandemic. The payments would be reduced for households that earn $150,000 or more, a head of household who earns more than. $112,500 and individuals who earn more than $75,000. The payments are designed to offset higher prices resulting from tariffs, which produced $30 billion in revenue to the federal government and could provide $150 billion in revenue in 2025. The legislation would allow for a larger credit per person if tariff revenue exceeds current projections for 2025. Hawley was a leading advocate for adding more tax relief to working-class Americans in the One Big, Beautiful Bill Act, which Trump signed into law earlier this month.
Yahoo
3 days ago
- Business
- Yahoo
Trump Mulls 'Little Rebate' For Americans Funded By Tariff Revenue — But Here's The 'Big Thing' He Wants To Do First
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. President Donald Trump is mulling over the idea of issuing rebate checks to Americans, funded by the new tariff revenue collected by his administration. What Happened: Trump, before his departure for Scotland, stated that a 'lot of money' is coming in through tariffs. He hinted at the possibility of issuing rebate checks to Americans when asked on the same by reporters. 'We're thinking about a little rebate. But the big thing we want to do is pay down debt. But we're thinking about a rebate,' Trump stated. The rebate could be aimed at 'people of a certain income level,' though the specific income threshold is yet to be determined, reported Forbes. Trending: 7,000+ investors have joined Timeplast's mission to eliminate microplastics—The federal debt has surpassed $36 trillion and is expected to grow further following the enactment of a new tax cuts and spending bill signed into law on July 4. Economists and policy institutes project that the One 'Big, Beautiful Bill Act' could add $3.4 trillion to the national deficit over the next ten years. The U.S. Treasury Department announced that customs duty collections have exceeded $100 billion in a single fiscal year for the first time. Treasury Secretary Scott Bessent told Fox Business that this figure could potentially grow to $300 billion It Matters: Trump's consideration of rebate checks funded by tariff revenue comes amid a period of significant economic activity. Despite initial concerns, Trump's aggressive tariff policy has attracted a flood of foreign inflows, with investors buying American securities at a record-setting pace. This move, coupled with the potential for tariff-funded rebate checks, could have a substantial impact on the U.S. economy and the financial well-being of its citizens. Notably, Trump idea of a rebate to Americans is not new. Earlier in the year, Trump had proposed a 20% 'DOGE Dividend' Tax Refund Plan, which would return a portion of the savings from his administration's Department of Government Efficiency initiatives to American citizens. This move was also aimed at reducing the federal debt. During the pandemic, Americans received three relief checks, two under Trump and one under Biden, to ease economic strain. While such rebates usually require Congressional approval via tax legislation, the recent tax and spending bill signed by Trump on July 4 includes new tax breaks but no tariff-based rebate provision. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. Arrived Home's Private Credit Fund's has historically paid an annualized dividend yield of 8.1%*, which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Image via Shutterstock This article Trump Mulls 'Little Rebate' For Americans Funded By Tariff Revenue — But Here's The 'Big Thing' He Wants To Do First originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
