Latest news with #HuschBlackwell
NDTV
03-07-2025
- Business
- NDTV
How Will Trump's 'Big Beautiful Bill' Impact US Climate Policy?
Washington: With the passage of his party's "One Big Beautiful Bill," Republican President Donald Trump has largely delivered on his promise of curtailing Joe Biden's landmark climate law. Here's a breakdown of how the new legislation will reshape US climate and energy policy. - Clean energy tax incentives slashed - The Inflation Reduction Act (IRA), signed by Biden in 2022, was the largest climate investment in US history, allocating around $370 billion in tax credits for renewable energy projects, efficient appliances, and more. Much of that now faces imminent repeal. "These credits were all huge motivating incentives for clean energy to be built out across the country," said Jean Su, senior attorney at the Center for Biological Diversity. "With those removed, those renewable energy projects are all at risk of entirely failing." Su noted the cuts come amid surging electricity demand from AI data centers. "Removing tax incentives for clean energy means that all of this new energy demand will be given over to the fossil fuel industry" -- resulting in more greenhouse emissions and air pollution. Critics say keeping the US energy mix heavily tied to fossil fuels locks in market volatility, as seen during the Ukraine war. Su added that utilities are incentivized to build costlier fossil plants to boost profits-raising electricity rates in the process. Trump, who received an estimated $445 million from Big Oil during his campaign, has framed the clean energy rollbacks as a victory over what he calls the "Green New Scam." Doug Jones, a tax attorney and partner at Husch Blackwell, told AFP that "wind and solar took the biggest hit." Under the new rules, clean energy projects must be in service by 2027 or begin construction within 12 months of the bill's enactment to qualify for remaining credits. "The pipeline of projects that had begun construction by the prescribed time is eventually going to dry up -- I don't know how they're going to start financing these projects without the tax credits," said Jones. He added his clients include Fortune 500 companies now alarmed by the ripple effects of ending the credits, which they have been purchasing from renewable developers -- a practice that has infused the market with much-needed liquidity. Tax credits for energy-efficient home and commercial upgrades also now face a shorter runway, expiring June 30, 2026. However, the bill preserves credits for nuclear, geothermal power, hydrogen and carbon capture technologies. - Electric vehicles and fuel economy - Electric vehicles come in for some of the harshest treatment. Tax credits for new and used EV purchases are set to sunset this year, while charging station installation credits expire June 30, 2026. Albert Gore of the Zero Emission Transportation Project said the bill effectively abandoned "the goal we all share of making the United States globally competitive in the mineral, battery, and vehicle production markets of the future," ceding the market to China. One eye-catching provision allows automakers to effectively ignore fuel economy rules by reducing fines to zero. "If you tell a kid before a test, it's okay, there's no penalty if you cheat, what do you think they're going to do?" said Dan Becker of the Center for Biological Diversity. - Skewing the market - Meanwhile, provisions of the IRA that benefited fossil fuel companies remain intact, including billions in subsidies and drilling leases in the Gulf of Mexico. There's a new tax credit for coal used in steel making, while a program to help gas and petroleum companies reduce waste and methane emissions is nixed. The legislation also clears the way for drilling, mining and logging on vast swaths of public lands, including in the sensitive Arctic National Wildlife Refuge. Analysts had hoped that the surge of investment and job creation driven by Biden's landmark climate law -- much of it in conservative-led states -- would serve as a check on efforts to fully dismantle it. That has largely not materialized, though renewable advocates did win a small concession: the late withdrawal of a provision that would have imposed a devastating new tax on wind and solar. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
France 24
03-07-2025
- Business
- France 24
How will Trump's 'Big Beautiful Bill' impact US climate policy?
Here's a breakdown of how the new legislation will reshape US climate and energy policy. Clean energy tax incentives slashed The Inflation Reduction Act (IRA), signed by Biden in 2022, was the largest climate investment in US history, allocating around $370 billion in tax credits for renewable energy projects, efficient appliances, and more. Much of that now faces imminent repeal. "These credits were all huge motivating incentives for clean energy to be built out across the country," said Jean Su, senior attorney at the Center for Biological Diversity. "With those removed, those renewable energy projects are all at risk of entirely failing." Su noted the cuts come amid surging electricity demand from AI data centers. "Removing tax incentives for clean energy means that all of this new energy demand will be given over to the fossil fuel industry" -- resulting in more greenhouse emissions and air pollution. Critics say keeping the US energy mix heavily tied to fossil fuels locks in market volatility, as seen during the Ukraine war. Su added that utilities are incentivized to build costlier fossil plants to boost profits-raising electricity rates in the process. Trump, who received an estimated $445 million from Big Oil during his campaign, has framed the clean energy rollbacks as a victory over what he calls the "Green New Scam." Doug Jones, a tax attorney and partner at Husch Blackwell, told AFP that "wind and solar took the biggest hit." Under the new rules, clean energy projects must be in service by 2027 or begin construction within 12 months of the bill's enactment to qualify for remaining credits. "The pipeline of projects that had begun construction by the prescribed time is eventually going to dry up -- I don't know how they're going to start financing these projects without the tax credits," said Jones. He added his clients include Fortune 500 companies now alarmed by the ripple effects of ending the credits, which they have been purchasing from renewable developers -- a practice that has infused the market with much-needed liquidity. Tax credits for energy-efficient home and commercial upgrades also now face a shorter runway, expiring June 30, 2026. However, the bill preserves credits for nuclear, geothermal power, hydrogen and carbon capture technologies. Electric vehicles and fuel economy Electric vehicles come in for some of the harshest treatment. Tax credits for new and used EV purchases are set to sunset this year, while charging station installation credits expire June 30, 2026. Albert Gore of the Zero Emission Transportation Project said the bill effectively abandoned "the goal we all share of making the United States globally competitive in the mineral, battery, and vehicle production markets of the future," ceding the market to China. One eye-catching provision allows automakers to effectively ignore fuel economy rules by reducing fines to zero. "If you tell a kid before a test, it's okay, there's no penalty if you cheat, what do you think they're going to do?" said Dan Becker of the Center for Biological Diversity. Skewing the market Meanwhile, provisions of the IRA that benefited fossil fuel companies remain intact, including billions in subsidies and drilling leases in the Gulf of Mexico. There's a new tax credit for coal used in steel making, while a program to help gas and petroleum companies reduce waste and methane emissions is nixed. The legislation also clears the way for drilling, mining and logging on vast swaths of public lands, including in the sensitive Arctic National Wildlife Refuge. Analysts had hoped that the surge of investment and job creation driven by Biden's landmark climate law -- much of it in conservative-led states -- would serve as a check on efforts to fully dismantle it. That has largely not materialized, though renewable advocates did win a small concession: the late withdrawal of a provision that would have imposed a devastating new tax on wind and solar.
Yahoo
09-04-2025
- General
- Yahoo
Pope Francis appoints next Archbishop in KCK after church leader retires
A new archbishop will replace Joseph F. Naumann as the spiritual father and shepherd of the Catholic Archdiocese of Kansas City in Kansas, church leaders announced this week. Pope Francis appointed Most Reverend Shawn McKnight to lead the archdiocese after Naumann's mandatory retirement at the age of 75. According to church officials, McKnight will serve as the fifth archbishop and 12th bishop of the archdiocese. Archbishop-designate McKnight currently serves as bishop in Jefferson City. He was born in Wichita and ordained a priest for the Diocese of Wichita in May 1994. McKnight earned a doctorate degree in sacred theology in 2001 at the Pontifical Athenaeum of St. Anselm in Rome. He taught graduate courses in liturgy, homiletics and dogma for some time before returning to pastoral ministry. McKnight will be installed as archbishop at a Mass of Installation on May 27, according to Marissa Easter, a spokeswoman for the archdiocese. In a statement this week, McKnight said he is grateful to serve in Kansas City, Kansas, and urged the church to help celebrate Naumann's retirement. 'It is with great enthusiasm that I begin this new chapter of my ministry, eager to meet the people, clergy, and religious who make this local Church so vibrant,' McKnight said in the statement. 'I come with an open heart, ready to listen, to learn, and to walk alongside you as together we proclaim the joy of the Gospel.' 'My prayer is that we continue to grow as a synodal and missionary Church, reaching out to all with compassion and hope,' McKnight said. 'Please know of my prayers for you, and I humbly ask for yours as we embark on this journey of faith together.' Naumann led the archdiocese during a period marked by allegations and lawsuits involving priest sexual abuse of minors. In 2019, the archdiocese released the names of 22 priests in its files who it said had substantiated allegations of sexual abuse of minors made against them in the past 75 years. 'Each name on this list represents a grave human tragedy,' Naumann said at the time. 'Each name represents a betrayal of trust and a violation of the innocent … What was done to victims by those who were called to be spiritual fathers is cause for great shame. On behalf of the church, I apologize to each victim and pledge our commitment to do all that we can to assist with your healing.' The list was compiled after a review of about 1,080 clergy files dating back more than 75 years, the archdiocese said. The review was conducted by the Chicago office of the Husch Blackwell law firm. Today, the list contains 27 names. The Survivors Network of those Abused by Priests said Tuesday that McKnight's track record on priest sex abuse 'hasn't been as bad as many bishops.' 'But overall, he has taken few significant steps to protect the vulnerable,' said David Clohessy, SNAP's former national director, in an email to The Star. 'Like so many Catholic officials, he still refuses to 'come clean' about all of the abuses and cover ups in his Jeff City diocese.' Naumann, Clohessy said, 'was even worse.' 'Even now, he didn't warn parents when he let an accused child molester run a local Catholic school where he's still the principal today,' he said. 'He also refuses to provide a thorough, detailed list of 'credibly accused' child molesting clerics, splitting hairs to minimize the number of predator priests who are or were in the archdiocese.' Naumann was ordained a priest in 1975. He served in the Archdiocese of St. Louis as a pro-life coordinator and as a vicar general. In 1997, he was ordained as Auxiliary Bishop of St. Louis. Naumann became administrator of the Archdiocese of St. Louis in 2003, and was appointed as archbishop of the Archdiocese of Kansas City in Kansas in 2005. He served the United States Conference of Catholic Bishops as chairman of the Pro-Life Committee from 2018 to 2021 and continues to be a consultant. He also served on the Bishop's Advisory Group for Eucharistic Revival. Naumann was chair of the Kansas Catholic Conference and co-chair of the Religious Alliance Against Pornography. He is on the board of the National Committee for the Human Life Amendment and the Catholic Benefits Association. He also is on the board of trustees for Kenrick-Glennon Seminary and Conception Seminary. Last month, Naumann filed a lawsuit against Satanists who held a Black Mass at the Kansas Capitol. The lawsuit was settled after a Satanic Grotto founder proved he purchased a communion wafer online and didn't get it through illicit means, as the lawsuit alleged. The lawsuit inspired a counter protest by Kansas Catholics and led to a bipartisan Kansas House resolution in March denouncing the ritual as 'an explicit act of anti-Catholic bigotry and an affront to all Christians.' On April 3, Naumann held a Mass in honor of Father Raj 'Arul' Balaswamy Carasala of Saints Peter and Paul Parish, who was shot and killed in broad daylight. In a statement this week, Naumann said he is grateful for his time in ministry at the archdiocese and congratulated McKnight on his appointment. 'I am deeply grateful for the privilege of serving as Archbishop of Kansas City in Kansas for over 20 years — it has been a true personal blessing,' Naumann said. 'I'm especially proud of the progress we've made in building a culture of evangelization, strengthening marriage and family life, and living the works of mercy.' 'McKnight brings many gifts — keen intellect, deep faith, and a great love for the Church,' Naumann said. 'With his theological expertise, seminary experience, and national service in clergy and vocations, he is well-prepared to shepherd this Archdiocese.' The Archdiocese of Kansas City in Kansas encompasses 12,500 miles in northeast Kansas, serving more than 120,000 Catholics in 21 counties. The archdiocese was established in 1850 as the Vicariate Apostolic of Indian Territory East of the Rocky Mountains. It became the Diocese of Leavenworth in 1877, was transferred to Kansas City in Kansas in 1947 and elevated to an Archdiocese in 1952.
