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Everyday Economic News
Elon Musk Says Tesla Sales 'Actually Increased' When Trump Removed $7,500 EV Credit, Calls Government Incentives Claim 'Totally False'
Elon Musk disputed claims that government aid was crucial to the success of Tesla and SpaceX, asserting that the total incentives received were less than 2% of the companies' value. He highlighted that Tesla's sales "actually increased" when the $7,500 EV tax credit was removed by the Trump administration, as buyers shifted from other EV manufacturers to Tesla. Musk's comments align with his past statements advocating for the removal of all subsidies, arguing it would primarily benefit Tesla.
Trump taps defense funding for Indiana coal upgrades
President Donald Trump announced he would direct $700 million in national defense and energy funding to upgrade and build coal power infrastructure across the country, including Indiana. Over half of this funding, $425 million, is designated to save 14 coal-powered plants, among them Indiana's Merom Generating Station, to ensure grid reliability and lower electricity prices. This move comes as part of an effort to bolster America's energy security and support the coal industry, with additional funds allocated for new plant construction and an export terminal.
Lazard bids to replace Centerview as Venezuela financial adviser, source says
Lazard has offered $25 million to become Venezuela's financial adviser for its sovereign debt restructuring, aiming to replace Centerview Partners, which Venezuela recently confirmed hiring. Lazard's bid is significantly lower than the $150 million Centerview was reportedly negotiating. Venezuela's government reiterated its selection of Centerview, citing team experience and expertise, while Centerview stated its engagement terms would be based on market rates.
Hartford Insurance Hires Venn Strategies for Lobbying
Hartford Insurance Group has hired Venn Strategies LLC for federal lobbying, focusing on a broad range of policy issues including health care, insurance regulation, taxation, and the automotive industry. The move signifies Hartford's engagement across multiple legislative fronts, though no specific issues or legislation were disclosed in the initial filing. Three lobbyists with congressional experience have been assigned to the account.
Mike Florio wonders if Rupert Murdoch’s political pressure leads NFL to dump Fox
Mike Florio speculates that the political pressure tactics employed by Rupert Murdoch against the NFL, particularly concerning streaming rights, could lead the NFL to sever its long-standing relationship with Fox when broadcast rights are renegotiated in 2030. Murdoch is believed to be leveraging government influence, including a DOJ investigation, to keep NFL games on Fox at a reasonable price and limit streaming expansion. This situation, mirrored by the NBA's recent shift away from Warner Bros. Discovery, suggests that the NFL might consider other bidders with deeper pockets when contracts are up again.