California pauses home energy rebate program amid Trump funding freeze

Key Points

California paused an energy rebate program for consumers who make their homes more energy efficient, due to a federal funding freeze imposed by the Trump administration.
The Home Energy Rebate program was created by the Inflation Reduction Act, which President Biden signed in 2022.
The law offered consumers up to $8,000 of Home Efficiency Rebates and up to $14,000 of Home Electrification and Appliance Rebates.

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Finance

China to reportedly boost defense spending by 7%, slowest pace since 2021

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Key Points China reportedly plans to raise defense spending by 7% this year, the slowest increase since 2021. China kicks off an 8-day parliamentary meeting Thursday. Beijing ranks second to the U.S. in military spending. Source

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