The Biden administration on Monday issued a statement saying it will veto a GOP-led bill aimed at bringing down energy costs by making it easier for energy companies to get permits for domestic drilling.
“This Administration is making unprecedented progress in protecting America’s energy security and reducing energy costs for Americans – in their homes and at the pump. H.R. 1 would do just the opposite, replacing pro-consumer policies with a thinly veiled license to pollute," the Office of Management and Budget said in a statement on Monday.
"It would raise costs for American families by repealing household energy rebates and rolling back historic investments to increase access to cost-lowering clean energy technologies,” it continued.
The agency also highlighted that oil and gas companies are already making record profits and should be investing that money into expanding production.
In response, House Majority Leader Steve Scalise of Louisiana criticized the administration's handling of energy issues.
“Voters gave House Republicans the majority to reverse this insanity and make energy affordable again, and that’s exactly what the Lower Energy Costs Act does,” he said. “We will pass the bill this week, and urge the Senate and President Biden to work with us to make America energy independent again and provide the much-needed relief that hardworking desperately need.”
U.S. Treasury Secretary Janet Yellen said former President Trump's policies toward China have left the nation "more vulnerable" and more isolated in the global economy.
A federal grand jury in Montana has indicted two men accused of killing about 3,600 birds, including bald eagles and golden eagles, and selling them on the black market.
Republican presidential candidate Vivek Ramaswamy tried to sway Iowa voters during Wednesday night's CNN Republican presidential town hall in Des Moines.
A judge says Donald Trump’s 2020 election interference case in Washington will be put on hold while the former president further pursues his claims that he is immune from prosecution.
The Supreme Court on Wednesday said it will hear an appeal that could upend hundreds of charges stemming from the Capitol riot, including against former President Donald Trump.
The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year.
