President Donald Trump’s attempt to create U.S. jobs by taxing solar panel imports could backfire.
That’s according to the CEO of the Solar Energy Industries Association trade group, who says it’s domestic workers that will feel the pain.
“We have been the fastest growing form of new energy...and this is putting the brakes on that crazy growth,” Abigail Ross Hopper told Cheddar in an interview. “These are not people who are looking for what nationality the company they work for is. They just want to feed their families and pay their mortgages. And those are the people whose jobs are at risk.”
Earlier this week President Trump signed a law that would impose a 30 percent tariff on imported solar panel and sells, a move the administration says will encourage domestic manufacturing.
But the SEIA says the vast majority of the 260,000 Americans employed in the industry work in peripheral industries like installation. Ross Hopper says the bill will result in 23,000 layoffs this year and delay or cancel billions of dollars of investment in the sector.
She also says it might dissuade U.S. consumers from going green.
“Most [businesses and consumers] want to choose solar because it saves them money,” she said. “This decision changes that calculus.”
For full interview [click here](https://cheddar.com/videos/solar-power-in-america).
Airline executives faced tough questions from Congress on Wednesday, with the Senate panel grilling top CEOs on how they used that $54 billion Covid-19 government lifeline.
This hearing comes as airlines continue to face staffing shortages and widespread delays. Jason Ader, Leisure Analyst and CEO of SpringOwl Asset Management joined Cheddar's Opening Bell to discuss.
The Hill's White House Correspondent Alex Gangitano joined Wake Up With Cheddar to break down the deterioration of Senator Manchin and President Biden's relationship, as the White House calls out the West Virginia lawmaker for "breaching his commitments to the President."
Airline executives faced tough questions from a Senate panel on Wednesday after receiving a $54 billion dollar Covid-19 government lifeline. Congress approved the fund in three rounds covering much of US airlines’ payroll costs for 18 months. During the hearing lawmakers asked CEO’s how they used the federal bailout funds, about staffing issues, flight cancellations, and delays. U.S. airlines reported a record $35 billion dollar loss last year when travel came to an abrupt halt because of the pandemic. Michael Boyd, CEO at the Boyd Group International explains why customers may not be returning to the skies quite so soon.
Senior Global Market Strategist at Wells Fargo Investment Institute Scott Wren joined Wake Up With Cheddar to recap the central bank's policy change, and how it may impact the economy moving forward.
Carlo's joined by a quarantining Baker to discuss the headlines from the weekend as Omicron spreads like wildfire, Manchin kills Biden's signature bill and Spider-Man throws a lifeline to the box office.
President Joe Biden is pledging to do “whatever it takes, as long as it takes” to help Kentucky and other states recover and rebuild after a series of deadly tornadoes that he says left a trail of unimaginable devastation.
The Federal Reserve has nixed the controversial word "transitory" to describe inflation in its latest policy statement. The change in language comes as the Fed plans to speed up its tapering of monthly asset purchases.
