RUTHFULLY YOURS

https://www.wsj.com/articles/ron-desantis-tort-reform-law-donald-trump-trial-bar-attorneys-d4e840?mod=opinion_lead_pos2

Donald Trump is grabbing anything to attack Ron DeSantis, and he’s even joining forces with the plaintiff bar in a bizarre alliance. Fortunately for Floridians, their Governor won this exchange.

Mr. DeSantis last Friday signed legislation that will reduce legal costs for businesses, insurers and their customers. Litigation abuse is a tax that every citizen pays into the tort system, costing each Florida household more than $5,000 in 2020, according to the U.S. Chamber of Commerce Institute for Legal Reform.

Enter Mr. DeSantis, who this year proposed a package of tort reforms to curb abuses. Several changes target plaintiff attorneys’ common practice of inflating damages by presenting to juries the charges for medical costs billed by healthcare providers rather than what health insurers would pay out, which is typically much less.

Collusive agreements between physicians and lawyers to inflate charges will no longer be protected by attorney-client privilege. Lawyers could previously ensure that juries saw only the inflated amounts billed by their hand-picked doctors, and juries often based awards on those trumped-up bills.

https://www.wsj.com/articles/joe-manchin-inflation-reduction-act-green-subsidies-president-biden-5b168948?mod=opinion_lead_pos1

We interrupt the latest Donald Trump melodrama for a word from Biden Administration regulators. While the world isn’t watching, and certainly the press corps isn’t, regulators on Friday announced they are essentially rewriting last year’s Inflation Reduction Act so more electric vehicles will qualify for subsidies.

In return for his vote, West Virginia Sen. Joe Manchin insisted on numerous conditions for the IRA’s $7,500 EV tax credit. He wanted to encourage more U.S. manufacturing and ensure subsidies don’t go to the affluent. The law imposed an income limit to qualify for subsidies of $150,000 for individual EV buyers, as well as a price cap for vans, SUVs and pickups ($80,000), and sedans ($55,000).

To qualify for $3,750 of the credit, an increasing share of a vehicle’s battery minerals such as lithium and nickel also had be extracted or processed in the U.S. or in a country with which the U.S. has a free-trade agreement. The other half of the credit was supposed to be available only for vehicles in which a majority of its battery components are made in North America, starting at 50% this year and up to 100% by 2029.

Few cars currently on the market were expected to qualify for even half of the credit. Most minerals are mined and processed in countries with which we don’t have trade agreements, such as China, Indonesia and the Democratic Republic of Congo. Key battery components—namely, active anode and cathode materials—are mostly produced in China, Japan and South Korea.