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).
Trump said Friday that his administration will support a nationwide law raising the minimum age to purchase any vaping products from 18 to 21, a policy that has already been enacted in several states and cities.
The potential new train service is part of a long-term plan to vastly expand the types of travel – and range of ticket prices – that the state and federally funded, privately run passenger rail company provides.
These are the headlines you Need 2 Know for Friday, November 8, 2019.
In the plan called "A Welcoming and Safe America for All," Sanders said he will use executive action if Congress does not enact the "commonsense immigration reforms supported by the vast majority of Americans."
The Family Friendly Schools Act introduced by Sen. Harris (D-Calif.) would create a pilot program to provide schools the resources needed to stay open until 6 p.m. and provide additional care on many days that schools are otherwise closed.
The ordinance, which passed with roughly 70 percent of votes, puts limitations on the number of short-term rental units in residential buildings and mandates safety inspections and an array of other compliance measures.
While estimates vary, the IPO is expected to value Saudi Aramco at roughly $1.5 trillion, making it the most profitable company in the world. Shares are expected to begin trading on the Tadawul, the stock exchange in Riyadh, in the coming months.
These are the headlines you Need 2 Know for Monday, November 4, 2019.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
In its monthly jobs report released Friday, the Bureau of Labor Statistics (BLS) also reported that unemployment last month remained largely unchanged at 3.6 percent or 5.9 million people.
