President Joe Biden

• FACT SHEET: Biden Administration Expands U.S. Sanctions Authorities to Target Financial Facilitators of Russia’s War Machine

Today, President Biden signed a new Executive Order (E.O.) that strengthens U.S. sanctions authorities against financial facilitators of Russia’s war machine. The E.O. makes clear to foreign financial institutions that they risk losing access to the U.S. financial system if they facilitate significant transactions relating to Russia’s military industrial base. The E.O. also provides authority to broaden U.S. import bans on certain Russian goods.


In response to Russia’s unprovoked war on Ukraine, the Biden Administration has worked actively with our allies and partners around the world to hold Russia accountable for its brutal and unjust war and to undercut Russia’s efforts to ramp up its military capacity. The United States has imposed sanctions and export control measures against thousands of entities and individuals, including on multinational procurement networks that Russia uses to acquire key defense-related and goods from abroad. To counter evasion of these steps and degrade Putin’s war machine, the Biden Administration has coordinated with partners to target companies in third countries and has dispatched teams globally to engage directly with foreign governments, companies, and financial institutions to share information and highlight sanctions risks. The United States has been clear: those who are supplying goods or processing transactions that materially support Russia’s military industrial base are complicit in Russia’s brutal violation of Ukraine’s sovereignty and territorial integrity.


With this E.O., the United States is taking action consistent with the G7 Leaders’ statement of December 6, 2023, which warned that we will work to further curtail Russia’s efforts to use the international financial system to facilitate expansion of its military industrial base.


Targeting financial institutions that support Russia’s military industrial base



As Russia creates cutouts and front companies to circumvent our restrictions and uses both witting and unwitting financial intermediaries, the new E.O. provides additional tools to root out Russia’s procurement networks. This E.O. amends Executive Order 14024 to expand U.S. authority to sanction:

• Financial institutions determined to have conducted or facilitated any significant transaction for or on behalf of companies or individuals the United States has sanctioned for operating in sectors of the Russian economy that support its military industrial base; and
• Financial institutions determined to have conducted or facilitated any significant transaction, or provided any service, involving Russia’s military industrial base, including the sale, supply, or transfer to Russia of certain critical items.

The Department of the Treasury will issue a determination that includes a list of critical items. A financial institution sanctioned under one of these criteria will face either full blocking sanctions or the loss of, or strict conditions on, their U.S. correspondent accounts.


Diamonds imports



To curtail Russia’s revenue from other sectors, the E.O. will also make it more difficult for specific Russian goods to enter the United States after being modified in a third country. In the coming months, the United States and our partners intend to introduce import restrictions on certain diamonds mined, processed, or produced in Russia, building on an existing U.S. ban on the importation of Russian-origin diamonds. Today’s E.O. amends Executive Order 14068 to provide the authority to ban, following a determination from appropriate U.S. departments and agencies, the importation of certain products mined, extracted, produced, or manufactured wholly or in part in Russia, even if these products are then transformed in a third country.


Seafood imports



Similarly, the amendment to E.O. 14068 provides the authority to ban, following a determination from appropriate U.S. departments and agencies, the importation of certain products harvested in Russian waters or by Russia-flagged vessels, even if these products are then transformed in a third country. The Department of the Treasury intends to issue a determination identifying specific types of seafood that will be subject to this prohibition.

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• Statement from President Joe Biden on the November PCE Report

Today marks a significant milestone with inflation over the last six months at the pre-pandemic level of 2 percent. Americans have seen their income grow by 3.7 percent over the last year, after adjusting for inflation. As we head into the holidays, prices are down from a year ago on important items including a gallon of gas, a gallon of milk, toys, appliances, electronics, car rentals, and airline fares.

A year ago, most forecasters predicted it would require a spike in joblessness and a slowdown to get inflation down. I never believed that. I never gave up on the hard work, grit, and resilience of millions of Americans. And today, six-month inflation has come down to the pre-pandemic level, the unemployment rate has stayed below 4 percent for 22 months in a row, and wages, wealth, and the share of working-age Americans with jobs are higher now than they were before the pandemic began. This reflects the hard work we did together to fix our supply chains and the surge of Americans into the workforce. It’s remarkable progress.

But make no mistake: while my economic plan is getting us back on track, our work is far from finished. Prices are still too high for too many Americans, and I know the strain that can put on hardworking families. That’s why I’m laser focused on lowering costs—from bringing down the price of insulin, prescription drugs, and energy, to addressing hidden junk fees companies use to rip you off, to calling on large corporations to pass savings on to consumers as their costs moderate.

As Americans gather to celebrate the holidays, we can be grateful for good jobs, rising wages, a growing economy, lower costs, and a new year of progress ahead of us. We can be grateful for the time we will spend with family and friends. And we can be grateful that we live in the greatest nation on earth.

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Just for fun.


Dow Jones – Year to date, up 12.82%

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S&P 500 – Year to date, up 24.33%

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Nasdaq – Year to date, up 44.34%

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• Biden issues pardons for certain marijuana offenses

President Joe Biden issued a proclamation to pardon certain marijuana offenses Friday, building on broader action he took last year for thousands of people convicted of possession under federal law.

The new pardons target "additional offenses of simple possession and use of marijuana under federal and D.C. law," Biden said in a statement. The proclamation includes offenses related to "use and possession on certain Federal lands," provisions that weren't covered by the 2022 proclamation.

"Criminal records for marijuana use and possession have imposed needless barriers to employment, housing, and educational opportunities," Biden said in the statement. "Too many lives have been upended because of our failed approach to marijuana. It’s time that we right these wrongs."

He also called on governors to take similar actions with state marijuana-related offenses, arguing that no one should be in jail or prison "solely due to the use or possession of marijuana."

It was not immediately clear how many people would be affected by the new pardons.

The Department of Health and Human Services recommended in August that the Drug Enforcement Administration ease marijuana restrictions by moving it to a Schedule III drug, which would be a significant change to federal drug policy. The DEA still classifies marijuana as a Schedule 1 drug, alongside drugs such as heroin and LSD. Most states allow marijuana use in some form, such as recreationally or for medical purposes.

Biden on Friday is also commuting the prison sentences of 11 people convicted of nonviolent drug offenses, including some who have received mandatory life sentences.

"Due to reforms, each of these clemency recipients would have been eligible for reduced sentences, had they been sentenced today," a White House official said in an email. "This clemency grant represents the President’s commitment to addressing unjustified disparities in sentencing."

Biden has granted clemency several times since he took office, most recently in April to 31 people convicted of drug-related offenses.

During his 2020 campaign, Biden called for the automatic expungement of cannabis use convictions.

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• Biden speaks with Mexico's Obrador as migrant crossings at southern border spike

President Biden spoke with Mexico's President López Obrador Thursday morning, as migrant crossings continue to spike at the southern border. Mr. Biden has asked Secretary of State Anthony Blinken, Secretary of Homeland Security Alejandro Mayorkas, and White House Homeland Security Advisor Liz Sherwood-Randall to go to Mexico soon to meet with Obrador.

Mr. Biden and Obrador agreed that additional enforcement actions are urgently needed in order to reopen key ports of entry, National Security Council spokesman John Kirby told reporters after the call. The two men discussed trying to work on getting at the root causes of migration, Kirby said.

Mr. Biden met with Obrador in person while in California last month, and the two addressed the threats of illicit drugs, like fentanyl, and discussed ways to expand cooperation between U.S. and Mexican law enforcement. Trade relations have been a point of contention for the U.S. and Mexico, and Mr. Biden and Obrador have had a tense relationship at times.

As many as 10,000 migrants have been crossing the southern border each day. Record levels of migrant apprehensions along the southern border are straining federal and local resources, and cities led by Democrats, including New York and Chicago, are struggling to house the increasingly high numbers of migrants. Local officials have been voicing concerns about overwhelmed services. Polling shows a majority of Americans view Mr. Biden's immigration agenda unfavorably.

Liberal-led cities have grown frustrated with the administration's response — New York Mayor Eric Adams returned from a recent trip to Washington, D.C., saying, "Help is not on the way."

• Biden orders strike on Iran-aligned group after drone attack on US troops

President Joe Biden ordered the U.S. military to carry out retaliatory airstrikes against Iranian-backed militia groups after three U.S. servicemembers were injured in a drone attack in northern Iraq.

National Security Council spokeswoman Adrienne Watson said one of the U.S. troops suffered critical injuries in the attack that occurred earlier Monday. The Iranian-backed militia Kataib Hezbollah and affiliated groups, under an umbrella of Iranian-backed militants, claimed credit for the attack that utilized a one-way attack drone

Biden, who is spending Christmas at the presidential retreat at Camp David, Maryland, was alerted about the attack by White House national security adviser Jake Sullivan shortly after it occurred on Monday and ordered the Pentagon and his top national security aides to prepare response options to the attack on an air base used by American troops in Erbil.

Sullivan consulted with Defense Secretary Lloyd Austin. Biden’s deputy national security adviser, Jon Finer, was with the president at Camp David and convened top aides to review options, according to a U.S. official, who was not authorized to comment publicly and requested anonymity.

Within hours, Biden convened his national security team for a call in which Austin and Gen. CQ Brown, the chairman of the Joint Chiefs of Staff, briefed Biden on the response options. Biden opted to target three locations used by Kataib Hezbollah and affiliated groups, the official said.

The U.S. strikes were carried out at about 4:45 a.m. on Tuesday in Iraq, less than 13 hours after the U.S. personnel were attacked. According to U.S. Central Command, the retaliatory strikes on the three sites, “destroyed the targeted facilities and likely killed a number of Kataib Hezbollah militants.”

“The President places no higher priority than the protection of American personnel serving in harm’s way,” Watson said. “The United States will act at a time and in a manner of our choosing should these attacks continue.”

The latest attack on U.S. troops follows months of escalating threats and actions against American forces in the region since the Oct. 7 Hamas attack on Israel that sparked the devastating war in Gaza.

The dangerous back-and-forth strikes have escalated since Iranian-backed militant groups under the umbrella group called the Islamic Resistance in Iraq and Syria began striking U.S. facilities Oct. 17, the date that a blast at a hospital in Gaza killed hundreds. Iranian-backed militias have carried out dozens of attacks on U.S. bases in Iraq and Syria since the start of the Israel-Hamas war more than two months ago.

Last month, U.S. fighter jets struck a Kataib Hezbollah operations center and command and control node, following a short-range ballistic missile attack on U.S. forces at Al-Assad Air Base in western Iraq. Iranian-backed militias also carried out a drone attack at the same air base in October, causing minor injuries.

The U.S. has also blamed Iran, which has funded and trained Hamas, for attacks by Yemen’s Houthi militants against commercial and military vessels through a critical shipping choke point in the Red Sea.

The Biden administration has sought to prevent the Israel-Hamas war from spiraling into a wider regional conflict that either opens up new fronts of Israeli fighting or that draws the U.S. in directly. The administration’s measured response — where not every attempt on American troops has been met with a counterattack — has drawn criticism from Republicans.

The U.S. has thousands of troops in Iraq training Iraqi forces and combating remnants of the Islamic State group, and hundreds in Syria, mostly on the counter-IS mission. They have come under dozens of attacks, though as yet none fatal, since the war began on Oct. 7, with the U.S. attributing responsibility to Iran-backed groups.

“While we do not seek to escalate conflict in the region, we are committed and fully prepared to take further necessary measures to protect our people and our facilities,” Austin said in a statement.

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• Scoop: Biden campaign plots late push ahead of South Carolina primary

President Biden's re-election campaign is planning a January push in South Carolina to drive turnout and boost the overall campaign ahead of the Democratic primary on Feb. 3, three people familiar with the plans tell Axios.

Why it matters: It's a shift for the Biden campaign after originally focusing on the general election battleground states and leaving the South Carolina primary to the state party.

• The move comes as polls show the president struggling to generate enthusiasm.
• This is the first time South Carolina has been first in the presidential primary. South Carolina Democrats want to show enthusiasm in order to maintain pole position i future cycles.

Driving the news: The campaign and the Democratic National Committee are planning a show of party solidarity for Biden's re-election, including high-profile surrogates as polls show a lack of enthusiasm among the base.

• The plans are still fluid and few events have been finalized, according to one party source.
• The surrogates could include Democrats with their own future presidential ambitions who will see a dual benefit in campaigning in the state.
• Vice President Harris will visit Myrtle Beach to speak at an annual women's retreat of the African Methodist Episcopal Church, AP reports.
• A spokesperson for Illinois Gov. J.B. Pritzker told Axios that South Carolina isn't on his schedule, but he'd likely do a stop if asked.
• The Biden campaign declined to comment.

Between the lines: Biden's team wants to show a unified, enthusiastic party behind the president in the state that turned around his 2020 candidacy.

• The plans come on top of the Biden campaign recently hiring a South Carolina leadership team ahead of the primary.
• Biden's team hired Scott Harriford to be state director with Clay Middleton and Jalisa Washington-Price to be political advisers, the campaign announced in early December.
• DNC Chair Jamie Harrison, who is from South Carolina, has been heavily involved in the plans for the late push, according to two people familiar with the matter.

The bottom line: Biden faces little opposition in the state, but would benefit from a strong turnout and show of support.

• Primary challenger Rep. Dean Phillips (D-Minn.) briefly campaigned in the state but is now planning to largely skip the contest, CNN reports.

• Readout of President Biden’s Call with Amir Sheikh Tamim Bin Hamad Al-Thani of Qatar

President Joseph R. Biden, Jr. spoke today with Amir Sheikh Tamim Bin Hamad Al-Thani of Qatar. The two leaders discussed the urgent effort to secure the release of all remaining hostages held by Hamas, including American citizens. The leaders also discussed the ongoing efforts to facilitate increased and sustained flows of life-saving access to humanitarian aid into Gaza.

Biden discusses hostage release, Gaza aid with leader of Qatar

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• Biden attempts climate-friendly hydrogen tax plan

The Biden administration on Friday released its attempt at a climate-friendly approach to using the tax code to boost hydrogen fuel production.

Why it matters: Administration officials seek to address the irony that, without sufficient guardrails on curbing energy use in producing hydrogen, a boom in the new business could actually undermine progress on reducing carbon emissions.

• Industries that have sought looser restrictions so they can easily get in on the hydrogen market — like nuclear energy and hydropower — may miss out on the credit.

Driving the news: The Treasury Department released proposed, and highly anticipated, guidance for the hydrogen credit created through the Inflation Reduction Act, President Biden's signature climate law.

• The guidance says companies making hydrogen fuel can only claim the credit if they adhere to a requirement that they rely on relatively new low-emission energy — a mandate that the industry has fought.
• Companies must also stick to geographic and time-based restraints on how their hydrogen production sucks energy from the power grid.
• The approach is similar to European regulators' attempt at restraining hydrogen energy use.
• White House climate czar John Podesta said Thursday these were "important environmental safeguards" engineered to avoid negative climate impacts.

Catch up quick: Hydrogen — a fuel that produces no carbon emissions when burned — is a sought-after solution for transportation modes and heavy industries that are finding it tough to quit fossil fuels, like steel and aluminum.

• Under the IRA, companies should be able to write off up to $3 per kilogram of "clean hydrogen" they make as long as they meet these requirements, as well as certain labor standards.
• Environmentalists urged the administration to put in place guardrails to avoid a surge in energy used from existing power sources.

Zoom in: To qualify for the credit, energy sources will have to be considered "clean" based on an analysis of carbon dioxide emitted throughout the life cycle of the hydrogen production process.

• Industries will need to rely on either "clean" power sources initiated within the last three years or new power capacity added to existing power sources.
• To meet the geographic limitations, this "clean" power must come from the same region as the facility producing the hydrogen.
• The time-matching mandate will require any "clean" power consumed to be generated within the same hour it is used. By 2028, companies will be able to switch to year-based matching, as opposed to by the hour.

The credit is "technology-neutral," meaning there may be circumstances in which fossil-based generation can be used to power hydrogen production.

• It'll depend on whether the energy is considered to be low-emissions based on a government model, known as GREET, which is best known for evaluating federal biofuel standards.
• There may also be pathways for companies to qualify by powering hydrogen production with renewable natural gas and coal-bed methane.

What's next: An industry backlash against this credit.

• Companies that can't meet these requirements — along with allies in larger business groups such as the U.S. Chamber of Commerce — claim this approach will undermine a hydrogen industry that's just getting off the ground.
• "Unfortunately, the restrictions in this guidance — which didn't come from Congress — threaten to steer investment elsewhere, harming efforts to reduce emissions in hard-to-decarbonize industrial sectors," the U.S. Chamber's Marty Durbin said in a statement issued before Treasury's announcement.
• One aspect to watch: how companies using existing nuclear plants may respond as the "new energy source" part of the requirements would rule out their facilities, which are carbon-free (and thus climate-friendly).

Energy-state lawmakers, especially Sen. Joe Manchin, are likely to suggest these restrictions run afoul of the statute.

• Manchin has said these sorts of requirements will make it too difficult for companies to qualify and has sought to fight it with legislation.

What they're saying: Treasury is taking comments on how to accommodate industry concerns, including a process for incorporating existing nuclear plants into the credit guidance, as well as existing hydropower, biomass facilities and fossil-based sites with carbon capture attached.

• Treasury said it's seeking comment on whether facilities using those energy sources should qualify under circumstances where powering hydrogen production would stop them from closing down — and therefore not necessarily suck energy that is going elsewhere.
• "We're looking for pathways that will create the environmental integrity that we're seeking, but that we believe will [also] allow the nuclear industry to participate," a senior administration official said.

• Biden begins week-long vacation in Caribbean to ring in the new yea

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President Joe Biden left the drizzly skies of Washington behind on Dec 27 and flew to St Croix in the US Virgin Islands, where he and Jill Biden, the First Lady, intend to ring in the new year.

The Bidens, along with their granddaughter Natalie, stepped off Air Force One and headed to a waiting SUV to start their weeklong vacation.

The Bidens are spending the week at the beachfront villa of friends and longtime Democratic donors Bill and Connie Neville.

The three-bedroom home, which is listed on Airbnb for US$700 (S$900) a night, has an infinity pool, private beach access and unobstructed views of Buck Island Reef National Monument.

But work has a way of intruding on even the most secluded getaways, especially if you’re the president.

The trip comes as Mr Biden faces pressure to prevent the Israel-Hamas war from spiralling into a wider regional conflict. On Dec 26, he authorised strikes on Iran-backed militias in Iraq in retaliation for a series of assaults and a drone attack on Christmas Day that left three American troops wounded and one in critical condition.

Later in the day, the administration said Mr Biden had spoken to the emir of Qatar about the hostages being held by Hamas and the effort to get more humanitarian aid into the Gaza Strip.

The White House declined to discuss the president’s expected meeting schedule while in St Croix or who will be accompanying the first couple.

The visit to St Croix is Mr Biden’s second as president. But the Bidens have travelled there more than a dozen times over the years.

The tropical escape is likely to be a respite for Mr Biden before the start of an intense 2024 presidential campaign season.

While the economy has shown significant signs of improvement since the Covid-19 pandemic - “Start reporting it the right way,” a frustrated Biden scolded reporters this week - Americans are still expressing anxiety.

At the same time, the Democratic Party is deeply fractured over Mr Biden’s support of Israel in its war against Hamas.

The president is entering the new year with a persistently low job approval rating. But campaign officials have indicated that the president will double down on a message that his administration’s policies are bolstering national security and the economy.

In January, the campaign has planned a major push in South Carolina to drive voter turnout before a Democratic primary in February. NYTIMES

• Statement from President Joe Biden on Judy Weinstein

Jill and I are devastated to learn that American Judy Weinstein is also believed to have been killed by Hamas on October 7. This tragic development cuts deep, coming on the heels of last week’s news that Judy’s beloved husband, Gad Haggai, is believed to have been killed by Hamas. We are holding Judy and Gad’s four children, seven grandchildren, and other loved ones close to our hearts. I will never forget what their daughter, and the family members of other Americans held hostage in Gaza, have shared with me. They have been living through hell for weeks. No family should have to endure such an ordeal. And I reaffirm the pledge we have made to all the families of those still held hostage: we will not stop working to bring them home.

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• Biden hits Haley over Civil War response

President Biden took a swipe at Republican presidential candidate Nikki Haley for failing to mention slavery while responding to a question about the cause of the Civil War.

Reposting a video of Haley’s response during a Wednesday town hall in New Hampshire, Biden offered a response on X, formerly known as Twitter: “It was about slavery.”

The video captured the exchange between Haley, a former South Carolina governor and United Nations ambassador, and a New Hampshire voter who asked the White House hopeful about the cause of the Civil War.

“Well, don’t come with an easy question, right,” Haley said during Wednesday’s town hall in Berlin, N.H. “I mean, I think the cause of the Civil War was basically how government was going to run, the freedoms and what people could and couldn’t do.”

Haley said it “always” comes down to the role of government, telling the crowd, “We need to have capitalism, we need to have economic freedom. “

“We need to make sure that we do all things so that individuals have the liberties so that they can have freedom of speech, freedom of religion, freedom to do or be anything they want to be without government getting in the way,” she added.

The Granite State voter then pressed Haley on her answer, saying it was “astonishing” that she did not mention slavery in a discussion about the Civil War.

“What do you want me to say about slavery?” she asked.

“You answered my question. Thank you,” the voter said.

Joe Biden - It was about slavery. https://twitter.com/JoeBiden/status/1740221284284256645

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• Biden responds to Trump’s ‘rot in Hell’ comment: ‘Love your enemies’
  

President Biden on Thursday responded to former President Trump’s Christmas post with a religious message to love your enemies.

Trump’s unusual Christmas message, which he shared on Truth Social, called for various people he sees as “looking to destroy” the nation to “rot in Hell.”

Biden shared an article from The Hill about Trump’s post on X, formerly known as Twitter, and added a message to poke at the former president.

“There’s an expression they say in church sometimes: Love your enemies, do good to those who hate you, bless those who curse you, pray for those who mistreat you,” the president said.


Joe Biden - There’s an expression they say in church sometimes: Love your enemies, do good to those who hate you, bless those who curse you, pray for those who mistreat you. https://twitter.com/JoeBiden/status/1740416700091130010

• Biden urges Congress to pass additional aid following Russia’s aerial assault on Ukraine

President Joe Biden on Friday condemned Russia for launching its "largest aerial assault on Ukraine" since the start of the war, warning that Russian President Vladimir Putin "must be stopped," and used the attacks to implore Congress to pass additional aid for Ukraine.

"Strikes reportedly hit a maternity hospital, a shopping mall, and residential areas -- killing innocent people and injuring dozens more. It is a stark reminder to the world that, after nearly two years of this devastating war, Putin’s objective remains unchanged. He seeks to obliterate Ukraine and subjugate its people. He must be stopped," Biden said in a written statement following the attack.

Russia launched 122 missiles and dozens of drones against Ukrainian targets in an onslaught that killed at least 30 civilians across the country, officials said Friday. Ukrainian President Volodymyr Zelenskyy vowed following the attacks that his country would "surely respond to terrorist strikes" and that "Russian terror must and will lose."

Biden said that Ukraine was able to deploy their air defense systems to intercept some of the missiles, thanks to support from America and other allies, but warned that the help from the United States has run out, once again calling on Congress to pass supplemental aid for Ukraine in the new year, after they failed to pass to take action earlier this month.

"The American people can be proud of the lives we have helped to save and the support we have given Ukraine as it defends its people, its freedom, and its independence. But unless Congress takes urgent action in the new year, we will not be able to continue sending the weapons and vital air defense systems Ukraine needs to protect its people. Congress must step up and act without any further delay," he added.

Senate negotiations on Ukraine aid tied to aid for Israel and border security continued Friday with no sign of any imminent deal.

Biden warned that the stakes of the fight in Ukraine will reverberate beyond its borders and "affect the entirety of the NATO Alliance, the security of Europe, and the future of the Transatlantic relationship." He also warned it increases the risk of pulling the US into the fight directly.

"We cannot let our allies and partners down. We cannot let Ukraine down. History will judge harshly those who fail to answer freedom’s call," Biden added.

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In other news. It was a very nice year for people who invest in the market.

• Stocks end 2023 with a big surge

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Against a backdrop of relentless economic angst, stocks soared in 2023.

Why it matters: The gains mean that everyone with a market-representative portfolio is quite a bit richer than they were at the beginning of the year.

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• Stocks went gangbusters in 2023.

Wall Street hit record high after record high in 2023, a year investors had feared would be a washout as elevated interest rates threatened to grind the economy to a halt.

But a resilient job market, robust consumer spending and easing inflation kept investor confidence high — helping propel all three indexes to double-digit gains.

S&P 500: While the broadest measure of the US stock market closed 0.28% lower on Friday, leaving it just under 30 points away from a record-high close, it gained 24% this year, ending 2023 with a bang. It also notched its ninth-straight weekly gain — the longest streak since January 2004. This year has been much kinder to the market than last: The benchmark index fell by about 20% in 2022.

Dow Jones Industrial Average: The Dow reached multiple record highs in December, including notching records in each of the past five trading sessions. It was down 0.05% Friday, closing at 37,689. In 2023, the Dow gained 14%.

Nasdaq Composite: The tech-heavy Nasdaq index was the year’s biggest star, however. Although it was down 0.56% Friday, closing at around 4769, it rose by 43% in 2023 — its best performance since 2020. It remains about 1,000 points below the all-time high it reached in November 2021, demonstrating what a horrendous year tech had in 2022 — and how much room it still has left to recover.

Stocks surged this year as the US economy remained remarkably strong in the face of interest rate intervention by the Fed. CNN Business’ Fear and Greed Index ended the year in “Extreme Greed” territory.

At this point in 2022, inflation was running at about 6.5%. Today, that number has more than halved and sits at 3.1%. US consumers, meanwhile, are still spending and economic data is resilient. Unemployment is at a healthy 3.7%.

"Anne was Scranton": Biden remembers the owner of his childhood home

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Anne Ratchford Kearns — who lived for 60 years in the Pennsylvania house at the root of President Biden's "Scranton Joe" lore, and hosted him several times when he visited his hometown — died on Christmas Eve at 88.

The big picture: Biden loved to visit the house and schmooze with Kearns when he returned to Scranton, where he was born in 1942.

• He sometimes came with his sister, Valerie Biden Owens, and sometimes with his late mother, Catherine Eugenia Finnegan Biden, known as Jean (who lived to 92!).
• The president lived in Kearns' house from roughly ages 5 to 10.

Then-Vice President Biden hosted Kearns at the White House on St. Patrick's Day in 2010.

• Kearns welcomed Hillary Clinton and Vice President Biden into her kitchen when they stopped in Scranton while she was running for president in 2016.

The Kearns family bought the home for $14,000 in 1962 from Edward Finnegan, Biden's uncle, according to The (Scranton) Times-Tribune, which gave Kearns a front-page sendoff.

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Above: "From This House To The White House With the Grace of God," Biden wrote with a Sharpie on Kearns' living-room wall during a stop on election morning in 2020.

• He signed a bedroom wall during his 2008 race for vice president: "I Am Home ... Joe Biden." (Photo)
• Scranton lore says that when Biden was living in the house as a kid, he scrawled on his bedroom wall: "Joe was here." The Kearns family painted over his childhood graffiti. That's why Biden signing walls became a thing.

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Biden paid tribute to Kearns in a statement released by the White House: "Over the many years I knew Anne Kearns, and the many times I visited her at my childhood home, I knew her as an embodiment of Scranton values."

• "She was a woman of integrity, grit, decency, compassion, and grace," the president continued. "Her greatest joy and her greatest pride in life was her family — her large Irish Catholic family — that always welcomed me home."
• "North Washington, Maloney Field, Green Ridge Little League, Fisk Street, Simmey's, Marywood University, St. Paul's Church, and so much more. Nothing but joy and friendship. Anne was Scranton. And Scranton will miss her. Jill and I share our deepest condolences with the Kearns family and all those who loved her."

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• Democrats sue New Hampshire over GOP-backed election law

The Democratic National Committee is suing New Hampshire officials over a Republican-backed election law that it claims will disenfranchise voters and have a chilling effect on key members of the party’s base in 2024.

The challenge, which was shared first with POLITICO, takes on a law passed last year that requires people who register and vote on Election Day without a photo ID to send in missing documentation to the state within seven days.

If they don’t, their votes will be thrown out and they’ll be referred to the state Attorney General’s office.

President Joe Biden’s campaign is backing the lawsuit. Senior officials on the team said they are concerned the legislation could affect critical voting blocs in the battleground state in the 2024 election, especially young people, college students and low-income voters.

“President Biden and Vice President Harris believe that we should be making it easier, not harder, for every eligible American voter to participate in our democracy. New Hampshire’s law flies in the face of that belief, and is a chilling and unacceptable embrace of the election fraud hysteria championed by Donald Trump,” said Biden campaign manager Julie Chavez Rodriguez. “In an election that could very well determine the fate of our democracy, it is our imperative to fight for the right to vote. This is just the beginning.”

Biden campaign officials said that 75,000 voters in New Hampshire registered in person and voted on Election Day in 2020. It is not clear how many of those people registered without an ID, since at the time, those voters could still cast a regular ballot as long as they filled out a form that attested to their identity.

But a senior Biden campaign aide, who was granted anonymity to discuss a pending legal issue, said the team anticipated that “thousands” of voters could be impacted by the new law.

This is the second lawsuit this year filed by the DNC challenging what the party saw as a law that makes it harder for people to vote, following a suit in October involving North Carolina legislation.

Top Biden campaign officials said a key part of their legal strategy in 2024 will be taking on voting laws they say are overly restrictive — and, crucially, can be litigated and resolved before the November election. Republicans nationally have defended more stringent measures as necessary to prevent rare cases of voter fraud.

New Hampshire Secretary of State David Scanlan defended the law in a statement: “We know from our experience requiring all voters to present an ID in order to obtain a ballot when they check-in at the polls, that only a small fraction of a percent do not have an acceptable form of ID. The very few voters affected can still vote after completing an affidavit.”

Biden campaign officials said the suit in New Hampshire is aimed at winning relief ahead of the general election, not the primary, where Biden is facing a challenge from Rep. Dean Phillips (D-Minn.).

The DNC, along with the New Hampshire Democratic Party, argue in their suit that the law violates a state constitutional provision that requires that local officials count votes and then submit them “sealed up and directed to the secretary of state, within five days following the election.” They also argue the law violates New Hampshire voters’ due process rights.

When signing the bill, Gov. Chris Sununu put out a statement downplaying concerns that it would imperil voters or cause delays.

“New Hampshire’s elections have been, and will continue to be safe, reliable and accurate — and this bill won’t change these facts,” he said last year.

The state chapter of the American Civil Liberties Union had previously challenged this law in state court, arguing that it violated Americans’ right to a private ballot. Interest groups in the state also challenged the law, raising state constitutional concerns. Those lawsuits were eventually combined and then dismissed for a lack of standing last month.

• Statement from President Joe Biden on the Earthquake in Japan

Jill and I are praying for the people of Japan who have been impacted by the terrible earthquake. My administration is in touch with Japanese officials, and the United States stands ready to provide any necessary assistance for the Japanese people. As close Allies, the United States and Japan share a deep bond of friendship that unites our people. Our thoughts are with the Japanese people during this difficult time.

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• Biden offers optimistic new year’s message as Trump lashes out

The likely candidates in the 2024 presidential match-up issued two starkly different new year messages to voters, with Joe Biden striking a note of cheerful optimism as his almost certain challenger Donald Trump, and Trump lashing out in a social media post laden with lies and conspiracy theories.

The president and first lady Jill Biden, vacationing in St Croix in the US Virgin Islands, offered a New Year’s message touting US job gains and the performance of the US economy during his administration – a message that voters have so far refused to accept.

In an interview with American Idol host Ryan Seacrest about his hopes for 2024, Biden said “[the American people] understand that we’re in a better position than any country in the world to lead the world”.

“We’re coming back, and it’s about time,” Biden said.

Asked about his memories of the previous year, Biden – whom Republicans in Congress have derisively called “Beachfront Biden” – said “people are in a position to be able to making a living now, and they’ve created a lot of jobs for over 14 million”.

In comments to reporters, Biden said his new year’s resolution was “to come back next year”.

“That’s the biggest one right there,” he said.

Trump, however, issued a simple: “Happy New Year. It will be a historic one. MAKE AMERICA GREAT AGAIN!!!” on his Truth Social platform.

Trump and former first lady Melania Trump welcomed 2024 with a concert by 90s rap star Vanilla Ice, and a Teenage Mutant Ninja Turtle “rock-out”, featuring Leonardo, Donatello, Raphael and Michelangelo, at his Mar-a-Lago home and private club, according to the Palm Beach Post.

Vanilla Ice :)

• Biden: 'Give me the money' to protect US southern border

_________

• Biden administration to reopen four ports of entry at southern border

The Biden administration this week will reopen four ports of entry at the southern border that had been closed because of a record influx of migrants, senior administration officials said Tuesday.

The four ports of entry that will be operational again Thursday are in Eagle Pass, Texas; San Ysidro, California; Lukeville, Arizona; and Nogales, Arizona.

They were closed for much of December as U.S. Customs and Border Protection shifted resources to respond to the influx of migrants traveling to the U.S. The planned reopenings come after a record-setting month in which Customs and Border Protection agents encountered more than 300,000 migrants at the southern border.

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• President Joe Biden’s first big campaign speech of 2024 will be in Valley Forge on Saturday

Call it the fight for the soul of America, part deux.

President Joe Biden’s first major campaign speech of 2024 will be near Valley Forge on Saturday, where he will mark the three-year anniversary of the Jan. 6 insurrection by warning voters that his leading GOP opponent, former President Donald Trump, presents an existential threat to American democracy.

Saturday’s speech, previewed by Biden’s campaign Tuesday, comes two weeks ahead of the Iowa caucuses and as Trump continues to dominate the GOP primary field. It’s the clearest signal of how Biden, who has struggled to boost his own popularity, is trying to motivate voters through fear of what a second term for Trump — who has ramped up dictator-like rhetoric on the campaign trail — could look like.

“The choice for voters next year will not simply be between competing philosophies of governing,” campaign manager Julie Chávez Rodriguez said on a call with reporters. “The choice for the American people in November 2024 will be about protecting our democracy and every American’s fundamental freedoms.”

The selection of Pennsylvania as the location for Saturday’s speech shows how winning the critical swing state continues to be a focus for Biden. He has visited the state frequently as president, and he held the first rally for his reelection campaign in Philadelphia.

Biden is expected to speak near Valley Forge, where the Continental Army, led by George Washington, spent a winter during the Revolutionary War. Two days later, Biden will head to Charleston, S.C., to speak at the church where nine people were killed in an anti-Black mass shooting in 2015. The back-to-back campaign events echo 2020, when Biden cast himself as the best line of defense against Trump, even as polls show that Americans are less engaged and frustrated with the likely rematch.

• Biden to speak at Valley Forge to mark 3 years since Jan. 6 Capitol riot

President Joe Biden plans to mark three years since the 2021 Capitol riot with a speech at Valley Forge, where George Washington staged American troops during the Revolutionary War.

The president was originally scheduled to deliver the speech on Saturday, Jan. 6, but the campaign moved the date to Friday because of inclement weather that's expected in Philadelphia over the weekend.

__________

• Biden administration asks Supreme Court to allow border agents to cut razor wire installed by Texas

The Biden administration is asking the Supreme Court to allow Border Patrol agents to cut razor wire that Texas installed on the U.S.-Mexico border, while a lawsuit over the wire continues.

The Justice Department filed an emergency appeal Tuesday, asking the justices to put on hold last month’s appellate ruling in favor of Texas, which forced federal agents to stop cutting the concertina wire the state has installed along roughly 30 miles (48 kilometers) of the Rio Grande near the border city of Eagle Pass. Large numbers of migrants have crossed there in recent months.

The court case pitting Republican-led Texas against Democratic President Joe Biden’s administration is part of a broader fight over immigration enforcement. The state also has installed razor wire around El Paso and the Rio Grande Valley, where migrants have crossed in high numbers. Texas Gov. Greg Abbott also has authorized installing floating barriers in the Rio Grande near Eagle Pass and allowed troopers to arrest and jail thousands of migrants on trespassing charges.

In court papers, the administration said the wire impedes Border Patrol agents from reaching migrants as they cross the river and that, in any case, federal immigration law trumps Texas’ own efforts to stem the flow of migrants into the country.
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• Gas is now under $3 a gallon across most of America

Many Americans across the U.S. may be enjoying lower gas prices, as signs point to a more normal economy in 2024 after several years of difficult headwinds.

Why it matters: Gas prices not only play a big role in consumers' spending budgets but can also impact how positively or negatively they view the economy.

The big picture: The national average price for a gallon of regular gas was $3.09 as of Wednesday, according to AAA.

• This is about 15 cents less than a month ago and about 13 cents less than a year ago, per AAA data.
• About two-thirds of gas stations across the country are already seen their gas prices drop below the $3 per gallon mark, CBS News reported.

State of play: However, the national average has been kept up by higher gas prices in the west and northeast.

• The average gallon of gas in Pennsylvania on Wednesday cost $3.39. In California and Oregon, prices topped $3.70 per gallon, while in Nevada, the average gallon of gas cost $3.95. In Washington, the average price crept past $4.12, per AAA data.

Between the lines: This week's drop comes after a rise in gas prices just last week, according to a Gasbuddy blog post published Tuesday.

• "There's a window of opportunity over the next six weeks" for the national gas price average to drop below $3 per gallon and reset from recent highs, Patrick De Haan, head of petroleum analysis for GasBuddy, said in a statement.
• If the national average falls below $3, it will be for the first time since 2021, De Haan noted.
• "The good news continues for average diesel prices, which slipped below $4 per gallon again and stand at their lowest level since the summer," he added.

Cause | Biden-Harris 2024 - YouTube

• The war in Gaza may widen. The Biden admin is getting ready for it

Biden administration officials are drawing up plans for the U.S. to respond to what they’re increasingly concerned could expand from a war in Gaza to a wider, protracted regional conflict.

Four officials familiar with the matter, including a senior administration official, described internal conversations about scenarios that could potentially draw the U.S. into another Middle East war. All were granted anonymity to speak about sensitive, ongoing national security discussions.

The military is drafting plans to hit back at Iran-backed Houthi militants who have been attacking commercial shipping in the Red Sea, according to three U.S. officials with direct knowledge of the discussions. That includes striking Houthi targets in Yemen, according to one of the officials, an option the military has previously presented.

Intelligence officials, meanwhile, are coming up with ways to anticipate and fend off possible attacks on the U.S. by Iranian-backed forces in Iraq and Syria, according to one of the officials. They are also working to determine where the Houthi militants may strike next.

The U.S. has for months behind the scenes urged Tehran to persuade the proxies to scale back their attacks. But officials say they have not seen any sign that the groups have begun to decrease their targeting and worry the violence will only surge in the coming days.

It’s an escalation that could result in President Joe Biden becoming more deeply embroiled in the Middle East just as the 2024 campaign season heats up and his campaign pushes to focus on domestic issues.

The potential for wider conflict is growing, officials said, following a series of confrontations in Iraq, Lebanon and Iran over the past several days. Those have convinced some in the administration that the war in Gaza has officially escalated far beyond the strip’s borders — a scenario the U.S. has tried to avoid for months.

The developments are perilous not just for regional security but for Biden’s reelection chances. He entered office with vows to end wars, realized with the chaotic withdrawal from Afghanistan that removed the U.S. from 20 years of fighting. Biden now ends his first term as the West’s champion for the defense of Ukraine and key enabler of Israel’s retaliation against Hamas.

Even without U.S. troops in either conflict, voters may see 2024 as their chance to weigh in on the key foreign policy question of this election: how involved should America be in foreign wars?

Biden has vowed to support Ukraine for “as long as it takes” while standing staunchly behind Israel. Former President Donald Trump, Biden’s most likely Republican rival, has boasted he could end Russia’s invasion in mere hours and argued the U.S. should take a hands-off approach to the Israel-Hamas fight.

“Incumbents get blamed for bad things, whether they’re his fault or not. This is the downside of the imperial presidency,” said Justin Logan, director of defense and foreign policy studies at the Cato Institute. “Trump will campaign on a ‘remember the glory days’ message, arguing that Russia wouldn’t be in Ukraine, Israel wouldn’t have been attacked, and China wouldn’t be leaning into Taiwan had he been in charge.”

“Biden will have to say, ‘yes they would, and none of it was my fault,’” Logan continued. “It’s not a good subject for Biden. But unless things get a lot worse, to include U.S. troops dying, foreign policy is still unlikely to factor heavily in this election. It almost never does.”

WATCH LIVE: Biden marks Jan. 6 anniversary with campaign speech on democracy - YouTube

• Biden blasts Trump as a ‘despicable’ danger to democracy

President Joe Biden on Friday declared that defending democracy from the extremist forces that fueled the Jan. 6 insurrection three years ago was the nation’s “sacred cause,” one that would be at the heart of his reelection bid.

In what resembled an unofficial campaign kickoff, Biden took square aim at his likely general election opponent, Donald Trump, denouncing his efforts to remain in power after the 2020 election. Unleashing his strongest language yet against his once and possibly future foe, Biden tore into his predecessor, deeming Trump “despicable” and a danger to the nation he once led.

“Whether democracy is still America’s sacred cause is the most urgent question of our time. It is what the 2024 election is all about,” Biden told a crowd gathered in Valley Forge, Pennsylvania.

“The choice is clear: Donald Trump’s campaign is about him. Not America, not you,” the president continued. “Donald Trump’s campaign is obsessed with the past, not the future. He’s willing to sacrifice our democracy, put himself in power.”

The looming rematch between Biden and Trump would present America with an unprecedented stark choice of visions for the future, and the incumbent president set the stakes for the election as a defining moment for the nation. Biden both invoked distant history of George Washington at Valley Forge, as well as the searing images from the U.S. Capitol riot three years ago, to connect the American traditions of fighting for freedom while also being willing to relinquish power.

The president recalled how the mob “waving Trump flags and Confederate flags, stormed right past” a Washington portrait that was commissioned by an artist impressed that the general had handed over his military commissioner after the war instead of trying to become king.

“In America, our leaders don’t hold on to power relentlessly. Our leaders return power to the people — willingly. You do your duty. You serve your country,” Biden said.

The president, at times, seemed equally incredulous and disgusted by Trump’s behavior, which included embracing a choir of Jan. 6 convicts, celebrating the assault of former Speaker Nancy Pelosi’s husband, and simply standing by as violence raged nearby at the Capitol.

“It was among the worst derelictions of duty by a president in American history,” he said.

Biden once was reluctant to call out Trump by name. That was not the case Friday, as he ran through a catalog of his predecessor’s incendiary actions and words, including his refusal to denounce political violence, his warm words for dictators and his use of language evocative of Nazi Germany.

He deemed Trump “the election denier in truth” and declared that his efforts to overturn the results of the 2020 election only proved that “I won the election and he was a loser.”

Biden aides have been confident that voters — like they did in the 2022 midterms — would rally behind the cause of democracy. But it is becoming less clear how true that assertion is the further the country moves away from the riots that day. Biden himself noted that Republicans who once distanced themselves from Trump have embraced him again, and a recently released Washington Post-University of Maryland poll found that 34 percent of Republican voters falsely believe the FBI organized the attempted insurrection.

The Biden campaign is hoping that speeches like the one Friday will help remind voters of what happened, in addition to framing the stakes ahead.

“We all know who Donald Trump is,” Biden said. “The question we have to answer is: Who are we? That’s what’s at stake.”

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Statement from President Joe Biden on the December Jobs Report | The White House

This morning’s report confirms that 2023 was a great year for American workers. The economy created 2.7 million new jobs in 2023—a year when the unemployment rate was consistently below 4 percent—more jobs than during any year of the prior Administration.

The strong job creation continued even as inflation fell to the pre-pandemic level of 2 percent over the last six months, and key prices have fallen over the last year—for a gallon of gas, a gallon of milk, toys, appliances, car rentals, and airline fares. American workers’ wages and wealth are higher now than before the pandemic began, adjusting for inflation.

I won’t stop fighting for American workers and American families. I know that some prices are still too high for too many Americans, and I am doing everything in my power to lower everyday costs for hard-working Americans—from bringing down the price of insulin, prescription drugs, and energy, to addressing hidden junk fees companies use to rip you off, to calling on large corporations to pass on savings to consumers as their costs moderate. And I will continue opposing efforts by Congressional Republicans to shower massive giveaways on the wealthy and big corporations, cut Medicare, Medicaid, and Social Security, and block us from lowering costs for American families.

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• Biden blasts Supreme Court decision allowing Idaho to enforce ‘dangerous’ abortion ban

President Biden on Friday railed against the Supreme Court’s decision to allow Idaho to enact certain provisions in its near-total abortion ban, arguing it is a catalyst for Republican officials to “continue to jeopardize women’s health.”

“Today’s Supreme Court order allows Idaho’s extreme abortion ban to go back into effect and denies women critical emergency abortion care required by federal law,” Biden said in a statement shared by the White House.

“The overturning of Roe v. Wade has enabled Republican elected officials to pursue dangerous abortion bans like this one that continue to jeopardize women’s health, force them to travel out of state for care, and make it harder for doctors to provide care, including in an emergency,” he added.

His comments come after the high court, in an unsigned order on Friday, granted a request by the state to overrule an injunction issued by a federal appeals court that prevented prosecution of doctors that performed abortions in emergency circumstances that weren’t necessarily life-threatening.

Statement from President Joe Biden on Supreme Court Order on Idaho’s Abortion Ban | The White House

Today’s Supreme Court order allows Idaho’s extreme abortion ban to go back into effect and denies women critical emergency abortion care required by federal law. The overturning of Roe v. Wade has enabled Republican elected officials to pursue dangerous abortion bans like this one that continue to jeopardize women’s health, force them to travel out of state for care, and make it harder for doctors to provide care, including in an emergency. These bans are also forcing doctors to leave Idaho and other states because of laws that interfere with their ability to care for their patients. This should never happen in America.

The Vice President and I believe that health care decisions should be made by women and their doctors, not politicians. We will continue to defend a woman’s ability to access emergency care under federal law. As this case continues, the stakes could not be higher for women across America. Congress must immediately restore the protections of Roe v. Wade so that women in every state can access the health care they need.

• Biden to deliver State of the Union address on March 7

President Joe Biden on Saturday confirmed he will deliver the final State of the Union address of his term on March 7.

“In this moment of great challenge for our country, it is my solemn duty to extend this invitation … so that you may fulfill your obligation under the U.S. constitution to report on the state of our union,” Speaker Mike Johnson wrote in a letter formally inviting the president to address a joint session of Congress.

“Looking forward to it, Mr. Speaker,” Biden said in a response on X, formerly known as Twitter.

March 7 is considered relatively late in the calendar for the annual address. Biden’s 2023 address fell on Feb 7. In 2022, he delivered his address March 1. Super Tuesday falls March 5 this year.

Biden is expected to outline his administration’s policy achievements and priorities in the address. Last year, his speech focused on the nation’s economic recovery following the pandemic and the war in Ukraine.

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• Remarks by President Biden on the Third Anniversary of the January 6th Attack and Defending the Sacred Cause of American Democracy | Blue Bell, PA

Yada, yada, yada

The choice is clear. Donald Trump’s campaign is about him, not America, not you. Donald Trump’s campaign is obsessed with the past, not the future. He’s willing to sacrifice our democracy, put himself in power.

Our campaign is different. For me and Kamala, our campaign is about America. It’s about you. It’s about every age and background that occupy this country. It’s about the future we’re going to continue to build together.

And our campaign is about preserving and strengthening our American democracy. Three years ago tomorrow, we saw with our own eyes the violent mob storm the United States Capitol. It was almost in disbelief as you first turned on the television.

For the first time on our history, insurrectionists had come to stop the peaceful tranfer — transfer of power in America — first time — smashing windows, shattering doors, attacking the police.

Outside, gallows were erected as the MAGA crowd chanted, “Hang Mike Pence.”

Inside, they hunted for Speaker Pelosi [of] the House, was chanting, as they marched through and smashed windows, “Where’s Nancy?”

Over 140 police officers were injured. Jill and I attended the funeral of police officers who died as a result of the events of that day.

And because Donald — because of Donald Trump’s lies, they died because these lies brought a mob to Washington.

He promised it would be “wild,” and it was. He told the crowd to “fight like hell,” and all hell was unleashed.

He promised he would right them — right them. Everything they did, he would be side by side with them. Then, as usual, he left the dirty work to others. He retreated to the White House.

As America was attacked from within, Donald Trump watched on TV in the private small dining room off my Oval — off the Oval Office.

The entire nation watched in horror. The whole world watched in disbelief. And Trump did nothing.

Yada, yada, yada

• Biden will visit Charleston church rocked by shooting, setting the stage for emotional appeal to Black votersis

For nearly nine years, since June 17, 2015, the spire atop Mother Emanuel Church has watched over Charleston, South Carolina, and served as a reminder of the horrors of racial violence.

Nine Black churchgoers were killed when a white supremacist walked into one of the South's oldest Black churches, intent on starting a race war. The shooting laid bare the racial tensions in South Carolina polity and society and eventually brought down the Confederate flag, which until then flew on top of the statehouse.

On Monday, Jan. 8, President Joe Biden will visit the church and is expected to highlight the importance of preserving democratic institutions to combat hate and extremism. His visit is also being viewed as a way to reconnect with Black voters, whose support for him seems to be waning in battleground states like Pennsylvania, Arizona, and Georgia, as per the New York Times and a Siena College poll.

Charleston County Democratic Party Chair Sam Skardon said Biden's visit was a strong metaphor for the choice voters face in 2024. "Between Donald Trump, who is facing criminal charges for violently rejecting the results of a democratic election, and President Biden, who is working to expand voting rights and strengthen our democratic institutions," Skardon said in an email.

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• Treasury: Nearly 9,000 auto dealers have registered for electric vehicle tax credit

More than 1,000 additional auto dealers have registered for the point-of-sale electric vehicle tax credit since it became available Jan. 1, the Treasury Department confirmed Friday morning.

Treasury officials told reporters that as of Friday, more than 8,700 dealers had registered for the credit, up from the 7,400 announced in late December. Alterations to the credit under the Inflation Reduction Act allow electric vehicle buyers to claim it upon purchase from registered dealers rather than waiting until filing their taxes the following year.

The 7,400 number was itself an increase from the 7,000 dealers announced earlier in December by the Biden administration.

Under the alterations to the credit, dealers must submit a “time-of-sale report” within a certain period after they sell an electric vehicle in order to claim the point-of-sale rebate.

Officials said dealers have submitted hundreds of such reports through IRS ECO, the electronic service launched by the IRS on Jan. 1. The IRS is set to extend the window to submit time-of-sale reports through Jan. 16 to allow dealers time to acclimate to the system, officials told press Friday.

“Later this month, we’ll return to the standard reporting deadline of three days from time of sale to submit the time-of-sale report,” an official said on the call. “These modified procedures are temporary as we process more [vehicle identification number] submissions and work with manufacturers to ensure the accuracy of their data submissions, and we anticipate a smooth process after this initial startup phase.”

In addition to the point-of-sale rebate, the tax credit, which tops out at $7,500, narrowed Jan. 1 to exclude certain vehicles associated with foreign entities of concern, including companies partially owned by China, Iran, Russia and North Korea. For a vehicle to be eligible for half of the possible $7,500 credit, the critical minerals in its battery must be at least 40 percent sourced from either the U.S. or parties to free-trade agreements with the U.S. That percentage will increase to 80 percent between now and 2027.

The Biden administration has set ambitious targets to expand the proliferation of electric vehicles in the U.S. while also working to reduce Chinese leverage in the electric vehicle and battery component supply chain.

Biden campaign speech at S.C. church where Black congregants were killed in racist attack

WATCH: Biden campaign speech at S.C. church where Black congregants were killed in racist attack - YouTube

• Joe Biden again attacked Donald Trump for refusing to accept that he lost the 2020 election, and called him"a loser’".

“There’s one thing they don’t have. They don’t have respect for the 81 million people who voted the other way, voted for my candidacy,” Biden said, of Trump and his allies, who continue to push baseless claims of election fraud.

“In their world, these Americans, including you, don’t count, but that’s not the real world. That’s not democracy. That’s not America,” he said. Biden went on to argue that in the country, “losers are taught to concede when they lose. He’s a loser.”

Biden goes after Trump in second straight speech for pushing ‘second lost cause’


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• Biden-Harris Administration announces nearly $1B in awards for clean school buses across the nation as part of Investing in America Agenda

As part of its ongoing commitment to protecting children and improving air quality, today, the U.S. Environmental Protection Agency announced the selection of 67 applicants to receive nearly $1 billion through EPA’s first Clean School Bus Program Grants Competition. The awards, which are made possible through President Biden’s Investing in America agenda, will help selectees purchase over 2,700 clean school buses in 280 school districts serving over 7 million students across 37 states. By accelerating the transition to low- and zero-emission vehicles, these awards will improve air quality for children and their families and advance environmental justice, all while boosting the economy and creating good-paying jobs.

With today’s announcement, EPA’s Clean School Bus Program has awarded nearly $2 billion and funded approximately 5,000 electric and low-emission school buses nationwide.

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• Job market surprise: Construction employment is booming

America's labor market is coming off a boil, but one unexpected corner of the jobs market is white-hot: construction.

• That's not what you would expect, based on historical experience, at a time of sky-high interest rates and weak demand for commercial real estate.

Why it matters: The construction hiring boom points to one way in which the economy so far has very different trends than in decades past.

• Demographic shifts, big federal investment in manufacturing and a shortage of housing supply have kept the sector humming, helping stabilize overall economic activity.

By the numbers: Hiring was among the strongest in the construction sector last month, the Labor Department said Friday — adding 17,000 jobs in December.

• Construction firms added an average of 16,000 jobs each month last year — above the 11,000 added monthly before the pandemic in 2019.

Of note: There were nearly half a million unfilled construction jobs in November, a sign of hearty demand for workers that is close to the highest since records began in 2000.

Has anyone ever read all this long winded drivel? I assume its to make the foolish Biden voters feel a bit better about their 'President' he must be the most embarrassing and ineffective one in history. No way will he run again, he will do an LBJ and pull out in the summer.

Quote:

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Originally Posted by britanicus123

the foolish Biden voters

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Voters who didn't want Trump.

Yeah, what fools.

:rolleyes:

Quote:

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Originally Posted by britanicus123

he must be the most embarrassing and ineffective one in history.

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No, that dubious distinction belongs to the Cheeto-in-Chief, who served before him.

Quote:

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Originally Posted by cyrille

Quote:

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Originally Posted by britanicus123
the foolish Biden voters

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Voters who didn't want Trump.

Yeah, what fools.

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Chose plague over cholera.

Indeed fucking fools

Landreth is always worth a stiff ignoring. He will only ever post positive news c&p, (confirmation bias) about Biden.

It matters not, because while Biden is an aging lightweight, his only likely opposition is the idiot Trump.

and Biden will win

The world needs Biden to win

• Biden Administration Revises Trump-Era Healthcare Conscience Rule

In a significant policy shift, the Biden administration has partially rescinded a Trump-era rule that protected the rights of healthcare workers to decline procedures they found morally or religiously objectionable such as abortions, contraception, gender-affirming care, and sterilization. The new directive, announced by the Department of Health and Human Services (HHS), seeks to strike a balance between respecting the conscience rights of healthcare workers and the healthcare needs and rights of patients, including urgent ones.

New Rule: A Balance Between Rights

The newly revised rule, which will take effect on March 11, 2024, maintains some provisions of the Trump-era policy but eliminates elements that were deemed redundant or confusing. The HHS Office for Civil Rights (OCR) has underscored the importance of protecting conscience rights while equally ensuring all have access to healthcare. The Final Rule strengthens protections against conscience and religious discrimination in healthcare, restores the process for enforcing federal conscience laws, and encourages covered entities to voluntarily post a notice of rights.

Response to the Policy Change

Alexis McGill Johnson, president and CEO of Planned Parenthood Federation of America, lauded the Biden administration’s move as an essential step towards guaranteeing informed decisions and access to necessary healthcare services. On the other hand, Melanie Fontes Rainer, the director of the HHS OCR, emphasized that the new rule is a vital measure in preserving conscience rights and ensuring healthcare access for everyone, thereby reflecting a carefully thought-out balance between the two.

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• Biden-Harris HQ - Trump says he hopes the economy crashes so he can blame President Biden: I hope it crashes during these next 12 months: https://twitter.com/BidenHQ/status/1744519377532125641

Trump wants a stock market crash in 2024 - YouTube

‘He doesn’t give a damn about people:’ Biden campaign hits Trump comments on economy crashing

__________

• Biden assails Trump for trying to turn election ‘loss into a lie’

From the pulpit of a Black church that was the site of a racist massacre in 2015, Joe Biden cast this year’s presidential election as a battle for truth over lies told by those who seek to “whitewash” the worst chapters of American history – from the deadly assault on the US Capitol to the civil war.

“This is a time of choosing,” Biden implored Americans during a visit to Mother Emanuel AME church, where nine Black worshippers were murdered by a white supremacist gunman who they had welcomed into their Bible study. Without mentioning Donald Trump by name, Biden assailed his predecessor and likely 2024 Republican opponent as a “loser” who sought to overthrow the will of the 81 million Americans who voted for the Democratic president.

“In their world, these Americans, including you, don’t count,” Biden told supporters. “But that’s not the real world. That’s not democracy. That’s not America.”

• White House announces push to convert empty commercial buildings to housing

The Biden administration on Friday announced federal financing and other incentives designed to convert high-vacancy commercial buildings in downtown spaces around the country into residential use in an attempt to increase housing supply.

Administration officials said office space vacancies have hit a 30-year high, while housing costs remain high for millions of Americans and there is a shortage of affordable housing units.

Lael Brainard, director of the National Economic Council, said on a call with reporters that converting empty commercial buildings into residential use represents a “win-win” opportunity to simultaneously revitalize downtown areas with unused office space while increasing affordable housing units.

“Housing affordability is a challenge for many American households, so the president has asked us to take a whole-of-government approach to making sure that we have affordable and accessible housing,” Brainard said.

To make it easier for state and local officials to convert commercial space to residential space, the Biden administration released new guidance on how they can get financing for loans for those conversions through the Transportation Infrastructure Finance and Innovation Act and Railroad Rehabilitation & Improvement Financing programs.