×
Education

American IQ Scores Have Rapidly Dropped, Proving the 'Reverse Flynn Effect' (popularmechanics.com) 391

An anonymous reader quotes a report from Popular Mechanics: Americans' IQ scores are trending in a downward direction. In fact, they've been falling for over a decade. According to a press release, in studying intelligence testing data from 2006 to 2018, Northwestern University researchers noticed that test scores in three out of four "cognitive domains" were going down. This is the first time we've seen a consistent negative slope for these testing categories, providing tangible evidence of what is known as the "Reverse Flynn Effect."

In a 1984 study, James Flynn noticed that intelligence test scores had steadily increased since the early 1930s. We call that steady rise the Flynn Effect. Considering that overall intelligence seemed to be increasing faster than could be explained by evolution, the reason increase became a source of debate, with many attributing the change to various environmental factors. But now, it seems that a Reverse Flynn Effect is, well, in effect.

The study, published in the journal Intelligence, used an online, survey-style personality test called the Synthetic Aperture Personality Assessment Project to analyze nearly 400,000 Americans. The researchers recorded responses from 2006 and 2018, in order to examine if and how cognitive ability scores were changing over time within the country. The data showed drops in logic and vocabulary (known as verbal reasoning), visual problem solving and analogies (known as matrix reasoning), and computational and mathematical abilities (known as letter and number series).
Not every domain is going down though, notes the report. "[S]cores in spatial reasoning (known as 3D rotation) followed the opposite pattern, trending upward over the 12-year period."

"If all the scores were going in the same direction, you could make a nice little narrative about it, but that's not the case," says Elizabeth Dworak, a research assistant professor at Northwestern University and one of the authors on the study. "We need to do more to dig into it." She adds: "It doesn't mean their mental ability is lower or higher; it's just a difference in scores that are favoring older or newer samples. It could just be that they're getting worse at taking tests or specifically worse at taking these kinds of tests."
United States

Biden Administration To Curb Toxic Pollutants From Chemical Plants (nytimes.com) 33

The Biden administration has proposed a new regulation to significantly reduce hazardous air pollutants from chemical plants, a move that environmental advocates predicted would significantly reduce the health risks to people living near industrial sites. From a report: The proposed Environmental Protection Agency rule calls on chemical plants to monitor and reduce the amount of toxic pollutants released in the air, including the carcinogens ethylene oxide, an ingredient in antifreeze, and chloroprene, which is used to make the rubber in footwear. The proposed rule would affect the vast majority of chemical manufacturers, applying to more than 200 facilities spread across Texas and Louisiana; elsewhere along the Gulf Coast; the Ohio River Valley; and West Virginia. It would update several regulations governing emissions from chemical plants, some of which have not been tightened in nearly 20 years. The action is part of the Biden administration's effort to address the disproportionate impact of environmental hazards facing communities that surround chemical plants. Known as fenceline communities, they are generally low-income, minority neighborhoods with elevated rates of asthma, cancer and other health problems.
Transportation

EPA Said To Propose Rules Meant To Drive Up Electric Car Sales Tenfold (nytimes.com) 179

The Biden administration is planning some of the most stringent auto pollution limits in the world, designed to ensure that all-electric cars make up as much as 67 percent of new passenger vehicles sold in the country by 2032, The New York Times reported, citing two people familiar with the matter. From the report: That would represent a quantum leap for the United States -- where just 5.8 percent of vehicles sold last year were all-electric -- and would exceed President Biden's earlier ambitions to have all-electric cars account for half of those sold in the country by 2030. It would be the federal government's most aggressive climate regulation and would propel the United States to the front of the global effort to slash the greenhouse gases generated by cars, a major driver of climate change. The European Union has already enacted vehicle emissions standards that are expected to phase out the sale of new gasoline-powered vehicles by 2035. Canada and Britain have proposed standards similar to the European model.

At the same time, the proposed regulation would pose a significant challenge for automakers. Nearly every major car company has already invested heavily in electric vehicles, but few have committed to the levels envisioned by the Biden administration. And many have faced supply chain problems that have held up production. Even manufacturers who are enthusiastic about electric models are unsure whether consumers will buy enough of them to make up the majority of new car sales within a decade. The action from the E.P.A. is likely to hearten climate activists, who are angry over the Biden administration's recent decision to approve an enormous oil drilling project on federal land in Alaska. Some inside the administration argue that speeding up a transition to renewable energy, with most Americans driving electric vehicles, would lessen demand for oil drilled in Alaska or elsewhere.

United States

Classified US Documents Leaked on 4chan, Telegram, Discord, and Twitter (msn.com) 133

America's Department of Justice just launched an investigation into the leaking of classified documents from the U.S. Department of Defense, reports the Washington Post.

"On Wednesday, images showing some of the documents began circulating on the anonymous online message board 4chan and made their way to at least two mainstream social media platforms, Telegram and Twitter." Earlier Friday, The Washington Post obtained dozens of what appeared to be photographs showing classified documents, dating to late February and early March, that range from worldwide intelligence briefings to tactical-level battlefield updates and assessments of Ukraine's defense capabilities. They outline information about the Ukrainian and Russian militaries, and include highly sensitive U.S. analyses about China and other nations. The materials also reference highly classified sources and methods that the United States uses to collect such information, alarming U.S. national security officials who have seen them.... The material that appeared online includes photographs of documents labeled "Secret" or "Top Secret," and began appearing on Discord, a chat platform popular with gamers, according to a Post review.

In some cases, it appears that the slides were manipulated. For instance, one image features combat casualty data suggesting the number of Russian soldiers killed in the war is far below what the Pentagon publicly has assessed. Another version of the image showed higher Russian casualty figures. Besides the information on casualties that appeared to be manipulated to benefit the Russian government, U.S. officials who spoke to The Post said many of the leaked documents did not appear to be forged and looked consistent in format with CIA World Intelligence Review reports distributed at high levels within the White House, Pentagon and the State Department....

The documents appear to have been drawn from multiple reports and agencies, and concern matters other than Ukraine. Two pages, for example, are purportedly a "CIA Operations Center Intelligence Update," and includes information about events concerning Russia, Hungary and Iran.... Rachel E. VanLandingham, a former Air Force attorney and expert on military law, said that whoever is responsible for the leak "is in a world of hurt." Such breaches, she said, constitute "one of the most serious crimes that exist regarding U.S. national security...."

Skepticism abounded Friday among both Russian and Ukrainian officials aware of reports about the leaks, with each side accusing the other of being involved in a deliberate act of disinformation.

The Post notes one defense official told them "hundreds — if not thousands" of people had access to the documents, so their source "could be anyone."

But the photographs received by the Post were apparently taken from printed documents, and "classified documents may only be printed from computers in a secure facility, and each transaction is electronically logged, said Glenn Gerstell, a former general counsel with the National Security Agency who emphasized that he was speaking only about general procedures. "The fact that the documents were printed out should significantly narrow the universe of the initial inquiry."
Businesses

Walmart US CEO Says Automation At Stores Won't Displace Workers (businessinsider.com) 57

An anonymous reader quotes a report from Insider: Walmart will be increasingly relying on automation at its stores in the coming years -- but that won't diminish the country's largest private employer's workforce, company leaders said during an investor event this week. The Bentonville, Arkansas-based retail giant recently made headlines when it announced that 65% of its stores will be "serviced by automation" by the end of fiscal year 2026. Walmart currently has more than 4,700 stores throughout the US and employs roughly 1.6 million people nationwide.

More specifically, one area where Walmart is seeking to increase investment is in market fulfillment centers (MFCs), which are automated fulfillment centers built within, or added to, a store. Walmart piloted this concept at a store in Salem, New Jersey, in 2019, using automated robot technology from Alert Innovation -- a robotics company Walmart acquired in October 2022. Since then, Walmart has built MFCs at several stores, such as in Jacksonville, Florida, and Dallas, Texas. Those include "manual MFCs," where associates pick items for online orders but in a separate area from the sales floor.

Walmart will still need at least the same level of workers to help in stores even as automation picks up, company leaders say. John Furner, Walmart US president and CEO, told investors this week that automation "helps" employees, as it will result in less manual labor. "Over time, we believe we'll have the same or more associates and a larger business overall," Furner said. "There will be new roles emerging that are less manual, better designed to serve customers, and pay more."

Social Networks

Arkansas House Wants You To Show ID To Use Social Media (arktimes.com) 42

With no discussion, the Arkansas House of Representatives overwhelmingly approved a bill that would require social media users in The Natural State to verify they're 18 years old or older to use the platforms. Arkansas Times reports: The proposal, backed by Gov. Sarah Sanders, is aimed at shielding minors from the harmful effects of social media. Young folks could use the platforms, but only if parents provide consent. Senate Bill 396, sponsored by Sen. Tyler Dees (R-Springdale) and Rep. Jon Eubanks (R-Paris), would require social media companies including Facebook, Instagram, Twitter and TikTok to contract with third-party companies to perform age verification. Users would have to provide the third-party company with a digital driver's license. Dees also sponsored a bill, now law, that requires anyone who wants to watch online pornography to verify they're an adult.

The social media bill squeaked through the Senate with 18 yes votes, the bare minimum, but passed the House 82-10 with four voting present (same as no). No one asked any questions of Eubanks -- who assured his colleagues that Facebook had "the AI and algorithms" to keep track of what users had parental consent without holding on to sensitive data -- but because it was amended (to among other things exempt LinkedIn, the most boring social media platform), the bill has to go back to the Senate, where perhaps it will meet some resistance.
Utah's governor signed two bills into law last month requiring companies like Meta, Snap and TikTok to get parents permission before teens could create accounts on their platforms. "The laws also require curfew, parental controls and age verification features," adds Engadget.
Electronic Frontier Foundation

'The Broad, Vague RESTRICT Act Is a Dangerous Substitute For Comprehensive Data Privacy Legislation' (eff.org) 76

The recently introduced RESTRICT Act, otherwise known as the "TikTok ban," is a dangerous substitute for comprehensive data privacy legislation, writes the Electronic Frontier Foundation in a blog post. From the post: As we wrote in our initial review of the bill, the RESTRICT Act would authorize the executive branch to block 'transactions' and 'holdings' of 'foreign adversaries' that involve 'information and communication technology' and create 'undue or unacceptable risk' to national security and more. We've explained our opposition to the RESTRICT Act and urged everyone who agrees to take action against it. But we've also been asked to address some of the concerns raised by others. We do that here in this post. At its core, RESTRICT would exempt certain information services from the federal statute, known as the Berman Amendments, which protects the free flow of information in and out of the United States and supports the fundamental freedom of expression and human rights concerns. RESTRICT would give more power to the executive branch and remove many of the commonsense restrictions that exist under the Foreign Intelligence Services Act (FISA) and the aforementioned Berman Amendments. But S. 686 also would do a lot more.

EFF opposes the bill, and encourages you to reach out to your representatives to ask them not to pass it. Our reasons for opposition are primarily that this bill is being used as a cudgel to protect data from foreign adversaries, but under our current data privacy laws, there are many domestic adversaries engaged in manipulative and invasive data collection as well. Separately, handing relatively unchecked power over to the executive branch to make determinations about what sort of information technologies and technology services are allowed to enter the U.S. is dangerous. If Congress is concerned about foreign powers collecting our data, it should focus on comprehensive consumer data privacy legislation that will have a real impact, and protect our data no matter what platform it's on -- TikTok, Facebook, Twitter, or anywhere else that profits from our private information. That's why EFF supports such consumer data privacy legislation. Foreign adversaries won't be able to get our data from social media companies if the social media companies aren't allowed to collect, retain, and sell it in the first place.
EFF says it's not clear if the RESTRICT Act will even result in a "ban" on TikTok. It does, however, have potential to punish people for using a VPN to access TikTok if it is restricted. In conclusion, the group says the bill is similar to a surveillance bill and is "far too broad in the power it gives to investigate potential user data."
United States

US-Backed VCs Are Funding China's Answer To OpenAI (theinformation.com) 40

A boom in artificial intelligence startup funding sparked by OpenAI has spilled over to China, the world's second-biggest venture capital market. Now American institutional investors are indirectly financing a rash of Chinese AI startups aspiring to be China's answer to OpenAI. From a report: The American investors, including U.S. endowments, back key Chinese VC firms such as Sequoia Capital China, Matrix Partners China, Qiming Venture Partners and Hillhouse Capital Management that are striking local AI startup deals, which haven't been previously reported. U.S. government officials have grown increasingly wary of such investments in Chinese AI as well as semiconductors because they could aid a geopolitical rival. For instance, Sequoia China, the Chinese affiliate of the Silicon Valley VC stalwart, recently made a U.S.-dollar investment in a brand-new AI venture created by Yang Zhilin, a young assistant professor at Beijing's prestigious Tsinghua University, which is sometimes described as China's equivalent of the Massachusetts Institute of Technology, according to a person with direct knowledge of the deal. Yang, who got his doctorate from the School of Computer Science, Carnegie Mellon University, in 2019, is considered one of China's top AI researchers. He previously co-founded another startup Sequoia China backed, Recurrent AI, which develops tools for salespeople, according to the company's website. Matrix and Qiming, meanwhile, recently funded another Beijing-based AI startup, Frontis, which has compared its product to ChatGPT. It was founded in 2021 by Zhou Bowen, a Tsinghua professor who once led JD.com's AI research lab, according to the company's website. The deal gave the startup a paper valuation of hundreds of millions of U.S. dollars, the company said.
Power

Rhode Island Considering Solar For All New Construction and Parking Lots (pv-magazine-usa.com) 103

Rhode Island representative Jennifer Boylan has submitted legislation that would mandate the inclusion of solar power in all newly constructed single-family dwellings, multi-family dwellings, large commercial buildings, and parking lots exceeding 16,000 sq. ft. From a report: The legislation, titled the Solar Neighborhoods Act (PDF), calls for the Rhode Island Building Code Commission to establish new code requirements for each of the aforementioned construction types. The document specifies that, at a minimum, the Code Commission must add code provisions to address:

- Static load roof strength, requiring that roofs where solar equipment could be placed support a minimum of six pounds per square foot;
- Placement of non-solar-related rooftop equipment, considering positioning that avoids shading solar equipment and maximizes continuous roof space;
- Sizing and provision of extra electrical panels to accommodate the addition of an appropriately-sized future solar energy system; and
- Provision of space for a solar energy system DC-AC inverter in the utility room or on an outside wall.

The legislation also recommends that the Code Commission consider amending the building code to account for roof orientation and angle, roofing materials that minimize or require no roof penetrations, conduit for wiring from roof to electrical panels, and the inclusion of level 2 electric vehicle charging infrastructure. [...] The legislation further requires outdoor parking lots larger than 16,000 sq. ft to install raised solar-panel canopies covering at least 50% of the parking lot's surface, and that 5% of the parking spaces must feature electric vehicle charging stations. Moreover, 20% of parking spaces should be equipped with the infrastructure, such as underground wiring, to accommodate additional EV charging stations in the future.
The report notes that California has already implemented a new construction solar mandate, and a similar measure is under consideration in Massachusetts.
The Almighty Buck

Jamie Dimon Says Banking Crisis Not Over and Will Cause 'Repercussions For Years' (cnbc.com) 93

The stress on the financial sector caused by two bank failures in the United States last month is still a threat and should be addressed by a reimagining of the regulatory process, according to JPMorgan Chase CEO Jamie Dimon. From a report: "As I write this letter, the current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come," the longtime CEO said in his annual letter to shareholders Tuesday. "But importantly, recent events are nothing like what occurred during the 2008 global financial crisis," he added. The recent banking issues in the U.S. began with the collapse of Silicon Valley Bank, which was closed by regulators on March 10 as depositors pulled tens of billions of dollars from the bank. The smaller Signature Bank was closed two days later. And in Europe, Swiss regulators brokered a purchase of Credit Suisse by UBS.

JPMorgan and other large banks stepped in to make $30 billion of deposits at First Republic, another regional lender that investors feared could become the next SVB. The stress on the regional banks has led investors and analysts to suggest that the too big to fail institutions would be a beneficiary of the crisis, but Dimon said JPMorgan wants to strengthen the smaller banks for the benefit of the whole financial system. "Any crisis that damages Americans' trust in their banks damages all banks -- a fact that was known even before this crisis. While it is true that this bank crisis 'benefited' larger banks due to the inflow of deposits they received from smaller institutions, the notion that this meltdown was good for them in any way is absurd," Dimon wrote. Dimon also cautioned against knee-jerk changes to the regulatory system. He wrote that most of the risks, including the potential losses from held-to-maturity bonds, were "hiding in plain sight." The interconnected network of SVB's deposit base was the unknown variable, he said. "The recent failures of Silicon Valley Bank (SVB) in the United States and Credit Suisse in Europe, and the related stress in the banking system, underscore that simply satisfying regulatory requirements is not sufficient. Risks are abundant, and managing those risks requires constant and vigilant scrutiny as the world evolves," Dimon wrote.

Businesses

Frank Founder Javice Charged With Defrauding JPMorgan (bloomberglaw.com) 43

Frank founder Charlie Javice was charged with fraud in the $175 million sale of her college financial planning site to JPMorgan Chase. The charges include conspiracy, wire fraud, bank fraud and securities fraud. From a report: JPMorgan, which acquired Frank in 2021, sued Javice and another executive, Olivier Amar, in federal court in Delaware in December, alleging they used fake customer accounts to lead the bank into completing the deal by vastly inflating the number of people using her site.
The Almighty Buck

US To Build $300 Million Database To Fuel Alzheimer's Research (reuters.com) 22

The U.S. National Institute on Aging (NIA) is funding a 6-year, up to $300 million project to build a massive Alzheimer's research database that can track the health of Americans for decades and enable researchers to gain new insights on the brain-wasting disease. Reuters reports: The NIA, part of the government's National Institutes of Health (NIH), aims to build a data platform capable of housing long-term health information on 70% to 90% of the U.S. population, officials told Reuters of the grant, which had not been previously reported. The platform will draw on data from medical records, insurance claims, pharmacies, mobile devices, sensors and various government agencies, they said.

Tracking patients before and after they develop Alzheimer's symptoms is seen as integral to making advances against the disease, which can start some 20 years before memory issues develop. The database could help identify healthy people at risk for Alzheimer's, which affects about 6 million Americans, for future drug trials. It also aims to address chronic underrepresentation of people of color and different ethnicities in Alzheimer's clinical trials and could help increase enrollment from outside of urban academic medical centers.

Once built, the platform could also track patients after they receive treatments such as Leqembi, which won accelerated U.S. approval in January, and is widely expected to receive traditional FDA approval by July 6. The U.S. Medicare health plan for older adults will likely require such tracking in a registry as a condition of reimbursement for Leqembi. [T]he data platform could also help researchers working in other disease areas understand which patients are most at risk and the impact of medications. The grant, which was posted on March 13, has been years in the making. The funding announcement sets its earliest start date at April 2024, with a goal to establish an Alzheimer's registry 21 months later.

Businesses

Less Than Half of US Workers Use All Their Vacation Days (bloomberg.com) 195

Spring break is here, and summer vacations are just around the bend. But while increasingly stressed-out US workers say having paid time off is critical, many still don't even take all that they're allowed. From a report: Only 48% of US workers say they use all their vacation days, according to a new survey from Pew Research Center. Those who don't take all their time off say it's because they don't need it, or they worry about falling behind at work or feel badly about co-workers carrying their load. A few even think vacation time hurts their chances for promotions or could cost them their job. There is growing anxiety in the labor force with layoffs spreading, hiring slowing and organizations cutting perks and other costs. Last month, the job site Indeed said it was reducing headcount because it's "simply too big for what lies ahead" -- an excuse used by many companies to justify recent cutbacks. It's no wonder that workers are exhausted.
China

US Military Prepares for Space Warfare As Potential Threats Grow From China (wsj.com) 52

America's Department of Defense "is gearing up for a future conflict in space," reports the Wall Street Journal, "as China and Russia deploy missiles and lasers that can take out satellites and disrupt military and civilian communications." The White House this month proposed a $30 billion annual budget for the U.S. Space Force, almost $4 billion more than last year and a bigger jump than for other services including the Air Force and the Navy.... A key aim of a stand-alone force was to plan, equip and defend U.S. interests in space for all of the services and focus attention on the emerging threats. For the first time, the spending request also includes plans for simulators and other equipment to train Guardians, as Space Force members are known, for potential battle....

Just as it is on Earth, China is the Pentagon's big worry in space. In unveiling a defense strategy late last year, the Biden administration cast China as the greatest danger to U.S. security. In space, the threats from China range from ground-launched missiles or lasers that could destroy or disable U.S. satellites, to jamming and other cyber interference and attacks in space, said Pentagon officials. China has invested heavily in its space program, with a crewed orbiting station, developing ground-based missiles and lasers as well as more surveillance capabilities. This is part of its broader military aims of denying adversaries access to space-based assets.

China is "testing on-orbit satellite systems which could be weaponized as they have already shown the capability to physically control and move other satellites," Gen. Chance Saltzman, chief of space operations for the U.S. Space Force, told a congressional hearing this month. "There's nothing we can do in space that's of any value if the networks that process the information and data are vulnerable to attack," Gen. Saltzman said. A central part of the Space Force's next tranche of military contracts for rocket launches is protecting them from attacks by China and other adversaries. The hope is to make satellites tougher to approach by adversaries' equipment as well as less susceptible to lasers and jamming from space or the ground, said Space Force leaders.

The article also notes the US Defense Department "is moving away from a small number of school bus-size satellites to a planned constellation of hundreds of smaller ones.

"The larger number of targets makes any one satellite less crucial to the network but also requires changes in the capabilities of the satellites themselves, the rockets that put them into orbit and the communications systems they host."
United States

Americans Begin Returning to Cities After Remote-Work Exodus, Data Shows (msn.com) 194

An anonymous reader shares this report from the Washington Post: The exodus of people fleeing large urban areas during the height of the pandemic appears to be reversing, according to data from the Census Bureau released Thursday. Many workers who could telecommute abandoned crowded cities and counties for suburban or rural areas when covid struck, causing demographers and businesses to wonder whether the movement signified a permanent shift. But the overall patterns of population change are moving toward pre-pandemic rates, the bureau's Vintage 2022 estimates of population and components of change show.

Eleven of the 15 largest metro areas gained residents or lost fewer people compared with the previous year, including the D.C. metro area, New York City, the San Francisco Bay Area, and Seattle, according to an analysis by Brookings Institution senior demographer William Frey.... Among the most striking recorded shifts were in Manhattan and San Francisco, both of which lost population at a significant rate between 2020 and 2021. Manhattan, which shrank by 5.87 percent in 2021, grew by 1.11 percent last year. San Francisco lost 6.79 percent of its population in 2021 but shrank by only a third of a percentage point last year. Both are home to a large number of people who were able to work remotely during the pandemic. Covid rates in New York City were especially high early in the pandemic, and many Manhattan residents moved to outlying counties....

"Many counties with large universities saw their populations fully rebound this year as students returned," said Christine Hartley, assistant division chief for estimates and projections in the Census Bureau's population division.

The article also makes the point that immigration into America was temporarily restricted during the pandemic, so outflows never had a chance to be counterbalanced by inflows. And the exodus to the suburbs may have already peaked. Last year Manhattan gained 17,472 people, the article points out, while counties outside the city lost residents. The Census Bureau notes that was a pattern for 2022: "the smallest counties nationally, those with populations below 10,000, experienced more population loss (60.8%) than gains (38.3%); while the largest counties, having populations at or greater than 100,000, largely experienced population increases (68%)."

Beyond that, the executive director of the DC Fiscal Policy Institute argues that it's just too soon to know whether the pandemic-era outflow from cities was permanent. "We've just been through a major health and economic shock. There's been what I call a doomsday narrative about what's going to happen, with predictions of empty downtowns and city centers that wither and die." They believe the new census data "should give us pause in terms of declaring that we've arrived at a new normal. It's highly likely that some of the folks who left will come back, and we really don't know if it's going to be a lot of them or just a small portion."
Government

US State Governments Try Lavishing Subsidies to Attract Chip and EV Factories (go.com) 8

U.S. states are now "doling out more cash than ever to lure multibillion-dollar microchip, electric vehicle and battery factories," reports the Associated Press, "inspiring ever-more competition as they dig deeper into their pockets to attract big employers and capitalize on a wave of huge new projects." Georgia, Kansas, Michigan, New York, North Carolina, Ohio and Texas have made billion-dollar pledges for a microchip or EV plant, with more state-subsidized plant announcements by profitable automakers and semiconductor giants surely to come. States have long competed for big employers. But now they are floating more billion-dollar offers and offering record-high subsidies, lavishing companies with grants and low-interest loans, municipal road improvements, and breaks on taxes, real estate, power and water....

The projects come at a transformative time for the industries, with automakers investing heavily in electrification and chipmakers expanding production in the U.S. following pandemic-related supply chain disruptions that raised economic and national security concerns. One of the driving forces behind them are federal subsidies signed into law last summer that are meant to encourage companies to produce electric vehicles, EV batteries, and computer chips domestically. Another is that states are flush with cash thanks to inflation-juiced tax collections and federal pandemic relief subsidies. The number of big projects and the size of state subsidy packages are extraordinary, said Nathan Jensen, a University of Texas professor who researches government economic development strategies.

"It is kind of a Wild West moment," Jensen said. "It's wild money and every state seems to be in on it."

Many of the companies drawing the biggest subsidy offers — such as Intel, Hyundai, Panasonic, Micron, Toyota, Ford and General Motors — are profitable and operate around the globe. Some lesser-known names in the nascent EV field are getting big offers too, such as Rivian, Volkswagen-backed Scout Motors and Vietnamese automaker VinFast. The subsidy offers are generally embraced by politicians from both major parties and the business elite, who point to promises of hundreds or thousands of jobs, massive investments in construction and equipment, and what they contend are immeasurable trickle-down benefits.

Still, academics who study such subsidies find them to be a waste of money and rarely decisive in a company's choice of location.

Transportation

US Approves California Plan Requiring Half of Heavy Duty Trucks Be EV By 2035 (reuters.com) 217

The U.S. Environmental Protection Agency (EPA) on Friday said it was approving California's plans to require a rising number of zero-emission heavy-duty trucks as the state pushes to cut pollution. Reuters reports: California Governor Gavin Newsom said as a result of the plan, "half of all heavy duty trucks sold in CA will be electric by 2035." "Time to stop playing small ball," he added. Under an executive order Newsom signed in 2020, California plans to mandate by 2045 that all operations of medium- and heavy-duty vehicles be zero emission where feasible, shifting away from diesel-powered trucks.

The California Air Resources Board (CARB) had sought waivers from the Clean Air Act to set heavy-duty vehicle and engine emission standards. California has been joined by Massachusetts, New Jersey, New York, Oregon, Washington and Vermont in adopting the rules. CARB has noted heavy-duty vehicles greater than 14,000 pounds comprised 3% of vehicles on California roads, but account for more than 50% of nitrogen oxides and fine particle diesel pollution.

The EPA said it is not yet approving California's request to set new regulations on pollutant exhaust emission standards for nitrogen oxide (NOx) and particulate matter for 2024 and future medium- and heavy-duty engines and vehicles. Separately, California in August moved to require all new light-duty cars and trucks sold in the state by 2035 to be either electric or plug-in electric hybrids. California needs an EPA waiver for that regulation.

United States

NYPD is Refusing To Comply With NYC's New Surveillance Tech Laws 48

An anonymous reader shares a report: In a new report published Thursday, the New York Office of the Inspector General for the New York Police Department (OIG-NYPD) said the New York Police Department violated the 2020 ââPublic Oversight of Surveillance Technology (POST) Act, which required the NYPD to publicly disclose surveillance technology. The POST Act was signed into law by then-New York City Mayor Bill de Blasio and required the NYPD to disclose information about its current and future surveillance technologies and how it wants to use them.

In the report, the OIG-NYPD said that NYPD was not in compliance with the POST Act orders to publish Impact and Use Policies (IUPs) for existing surveillance tech 180 days after the Act was signed and new IUPs at least 90 days before the use of any new surveillance tech. The IUPs were supposed to "describe the capabilities of surveillance technology, and include any rules, processes, and guidelines that regulate access to or use of the technology, and any prohibitions or restrictions on its use, and any potential disparate impacts," according to the report. But, the OIG-NYPD said that the 36 IUPs NYPD published after the Act was signed were general and not detailed, leaving the OIG-NYPD unable to conduct an audit and assess whether NYPD's use of surveillance devices complies with its IUPs and report any suspected violations.
The Almighty Buck

Tax Preparation Industry Alarmed Over Plan For IRS Free Tax-Filing System (nytimes.com) 235

An anonymous reader quotes a report from the New York Times: The Biden administration's $80 billion overhaul of the Internal Revenue Service is facing a new line of attack, this time from lobbyists representing tax preparers who fear that the agency's growing power will cripple their businesses and infringe upon taxpayer privacy. The fight is over a potential plan for the I.R.S. to create its own tax-filing system that would allow taxpayers to submit their returns directly to the federal government at no cost. That type of free service could diminish the need for those provided by tax preparation companies like H&R Block and TurboTax. The idea, which is still being studied, is stoking backlash from Republicans and business groups who argue that President Biden's plans to bolster the I.R.S. will give it even more power over ordinary taxpayers.

The I.R.S. received a giant infusion of money as a result of the Inflation Reduction Act, a sweeping climate and energy bill that Congress passed last year. That legislation set aside $15 million for the I.R.S. to conduct a study to determine how it could develop a program that would let Americans file their tax returns directly with the agency. The I.R.S. is expected in the coming days to release its plan for how it intends to spend the $80 billion that it was allocated as part of that legislation. Republican lawmakers have maintained firm opposition to the funding, which will help the agency hire 87,000 employees, and have been taking steps to claw it back. [...] Democrats have long pushed to make filing free for everyone, seeing that as a way to make the process easier and less costly. But that ambition could upend the business models of the multibillion-dollar tax preparation industry, which earns hefty fees for helping people navigate the tax code.

Several companies already provide free tax-filing services through the I.R.S. website to those who earn less than $73,000, and the agency provides forms that taxpayers who do not need any guidance can use to file their returns for free. Some other software platforms offer limited free services for simple tax returns that also do not offer guidance through the process. Initially, a tax-filing system developed by the I.R.S. would be similar to the existing free options. But proponents of the idea believe that over time it could evolve to become a more comprehensive system that would provide taxpayers with returns that are already filled out based on wage data that the I.R.S. tracks. At that point, taxpayers could just sign off on their returns as easily as responding "yes" to a text message.

Bitcoin

SEC Chair Gensler: Existing Rules Regulate Crypto, Legislation Unnecessary (theblock.co) 23

The Securities and Exchange Commission takes the lead in defining what a security is, not necessarily legislation, the regulator's Chair Gary Gensler said. From a report: After a House Appropriations Committee hearing on Wednesday, Gensler told reporters that existing securities laws "cover most of the activity that's happening in the crypto markets. If Congress were to act, though I don't think we need these authorities, not to undermine inadvertently through definitions of what's in or out, or in essence allowing for conflicts that we don't allow," Gensler said.

"I think there is one agency -- the Securities and Exchange Commission, overseen by two committees -- the House Financial Services and Senate Banking, and the courts that define what a security is and not individual crypto exchanges selecting that," Gensler later said. Lawmakers have introduced legislation over the years to regulate crypto. Sens. Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., have plans to reintroduce legislation next month that would, in part, assert that the Commodity Futures Trading Commission has control over digital asset commodities, such as bitcoin. "I think many of the legislative vehicles would, if adopted, would undermine the securities remit," Gensler added.

Slashdot Top Deals