BusinessEnergyManufacturing

Trump’s Offshore Wind Policy Disrupts US Maritime Industry, Report Reveals

American shipbuilders and port operators are experiencing significant financial strain following policy shifts against offshore wind development. Industry sources report canceled vessel orders and withdrawn federal grants totaling hundreds of millions of dollars, creating uncertainty for maritime investments nationwide.

Policy Shift Creates Ripple Effects Across Maritime Sector

U.S. shipbuilders and port operators are facing substantial economic challenges as a result of the Trump administration’s opposition to offshore wind development, according to recent reports. Industry sources indicate the policy stance has triggered canceled government funding, vanished vessel orders, and created uncertainty for billions in maritime infrastructure investments.

EducationPolicy

Education Department Reaches Agreement to Resume Student Loan Forgiveness Processing

Student loan borrowers in income-driven repayment plans may soon see resumed loan forgiveness processing under a new agreement between the Education Department and teachers’ union. The deal could help borrowers avoid substantial tax bills by ensuring cancellations occur before a key tax exemption expires.

Student Loan Cancellations to Resume Following Legal Agreement

The student loan forgiveness process for borrowers enrolled in income-driven repayment plans will resume under an agreement reached between the Education Department and the American Federation of Teachers, according to reports filed in federal court. The development comes after loan cancellations in several repayment programs had been temporarily paused earlier this year.