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).
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.
Amazon is reportedly having second thoughts about setting up in New York, after growing backlash from local politicians. "They haven't changed their mind, but they are thinking of at least holding open the possibility that they might pull out and basically put the jobs somewhere else," Robert McCartney, senior regional correspondent at The Washington Post, told Cheddar Friday.
Gavin de Becker has been operating in elite, high-profile circles for nearly four decades, but very few knew his name before Jeff Bezos mentioned it on Thursday in his explosive allegations that a tabloid publisher attempted to blackmail him over explicit photos. De Becker, Bezos' longtime private security consigliere, has a star-studded pedigree that spans 40 years.
A new bill in Illinois would require potential gun buyers to reveal their public social media accounts to state police. The ACLU is now speaking out against the idea, citing privacy and bias concerns. "The things that social media would show are one's political views, perhaps one's religion, and even in some instances someone's race," Edwin Yohnka, director of communications and public policy at ACLU of Illinois, told Cheddar.
For veteran congresswoman and cancer survivor Gwen Moore of Wisconsin, the issue of healthcare is both political and personal. She discussed President Trump's vow "to protect patients with pre-existing conditions" with Cheddar.
These are the headlines you Need 2 Know for Friday, Feb. 8, 2019.
President Trump's economic adviser Larry Kudlow slammed Democratic tax and banking proposals as un-American in an interview with Cheddar's J.D. Durkin on Thursday. "I'm afraid some of my Democratic friends are going back to a war on business," Kudlow said.
It's a topic that has evaded recent political campaigns, but thanks to a superstar representative from New York, tax and bank reform could be one of the biggest campaign issues leading into 2020. Rep. Alexandria Ocasio-Cortez (D-NY) has used her Twitter feed to call out the big banks. Pete Schroeder, who covers finance for Reuters, talked to Cheddar about how the big banks are getting ready.
These are the headlines you Need 2 Know for Thursday, Feb. 7, 2019.
If there's one issue on which President Trump and Congress can work together, it's infrastructure. That's according to Henry Cisneros, a veteran private equity investor and former HUD Secretary under President Bill Clinton.
