Economic Impacts

Germany's highest court annuls a decision to repurpose COVID relief funding for climate measures Germany’s highest court has annulled a government decision to repurpose 60 billion euros ($65 billion) originally meant to cushion the fallout from the coronavirus pandemic for measures to help combat climate change and modernize the country. AP News

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The court ruled that the government’s move was unconstitutional and said it will have to find other ways of filling the resulting hole in the climate fund.

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The Great Grift: COVID-19 aid thieves bought fancy cars, a Pokemon card — even a private island Patrick Parker Walsh is one of thousands of thieves who perpetrated the greatest grift in U.S. history — potentially plundering more than $280 billion in federal COVID-19 aid. AP News

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Pfizer more than doubles price of lifesaving Covid-19 medication Paxlovid as US transitions out of pandemic phase | CNN The price of the lifesaving Covid-19 antiviral medication Paxlovid will more than double as the United States transitions out of the emergency phase of the pandemic, drugmaker Pfizer said Wednesday. Meg Tirrell CNN

The list price, before insurance, will be $1,390 for a five-day course, Pfizer said in a statement. That’s 2.6 times higher than the $530-per-course price paid by the US government, which provided Paxlovid free to patients during the pandemic. The Wall Street Journal first reported the new price.