
Judge Says Feds Can't Withhold Money From State EV Charger Programs
When the Trump administration vowed earlier this year to claw back funds that had previously been awarded for the construction of new electric vehicle charging infrastructure, a California representative slammed the move as 'unconstitutional.' On Tuesday, a U.S. district judge in Washington State stopped short of agreeing, but found merit in the plaintiffs' argument in a suit filed by California, 15 other states and the District of Columbia, that the administration acted illegally. Judge Tana Lin said it was likely that the states will ultimately win, giving the admin a week to re-open its coffers—or, more likely, to appeal the ruling, which may be destined for the Supreme Court, Reuters reports.
The sixteen states who sued the administration claimed that the administration's move to cut funding would result in immediate financial harm, citing the money already spent on their contributions to the infrastructure projects for which they'd received federal funding approval. Judge Tin carved out exceptions for two of them (Minnesota and Vermont) in her ruling, along with the District of Columbia, as they failed to demonstrate how they'd been monetarily impacted by the administration's actions.
President Trump began targeting Biden-era EV mandates almost immediately after taking office again. His administration is attempting to roll back the expansion of charging infrastructure, federal incentives for private EV purchases, and the federal government's expansion of its own electrified fleet. Judge Tin's ruling is the latest in a series of setbacks for the administration, which is facing both legal and legislative hurdles to its initiatives.
During his first term, Trump's administration pushed hard to not only roll back federal emissions standards, but to weaken the power of individual states to set their own limits on internal-combustion engines. The administration's campaign against California and its coalition of blue-leaning 'CARB states' seemed decisive at first, but all of its early victories were ultimately for naught, as the Supreme Court ultimately sided with the states over the federal government. It's a battle Trump has pledged to take up again in his second term, but it's unclear what avenue the admin will be able to pursue that wasn't explored previously; anything setting a permanent framework would likely have to be approved by Congress, where the Republican majority is slim.
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Building long-term financial success involves more than securing a good job. Even a high-paying career might not be enough to create real wealth unless you understand basic financial concepts. In addition to building a financial safety net, you'll need to grow your savings, practice lawful tax planning, and maximize your retirement accounts. Then, all the hard work you put in through your career will truly pay off. Learn More: Check Out: Here's a look at the key terms that every first-generation American should know when it comes to investing, taxes, insurance and retirement planning, including the foundational basics that underlie all of them. If you're looking to make informed financial decisions and build generational wealth, you should become familiar with each of these concepts. 1. Compound Interest Compound interest is simply 'interest paid on interest.' If you have $1,000 and earn a 10% return, you'll have $1,100. If you earn another 10% the following year, you'll have $1,210. 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Investments Investments are assets that are expected to generate income and/or capital appreciation over time. Investing is how you grow your money and fight the eroding effect of inflation. Here are some popular types of investments: Stocks: Shares that represent ownership in a company. Often used for long-term capital appreciation; some stocks also pay income in the form of dividends. Bonds: Loans to governments or corporations. In exchange for your principal, which is returned at the stated maturity date, you receive regular interest payments. : Pools of money from individual investors managed by professionals; each investor owns a share of the fund proportionate to their investment. Mutual funds can be an easy way to diversify. : Funds that trade on exchanges like stocks. 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