Benefits accrue to tens of millions of Americans. President Biden is taking action Wednesday to forgive $10,000 or more in federal student loan debt, a move that would…
Read MoreInflation
Administration Forecasts $1.7 Trillion Deficit Reduction
The amount is lower than what they estimated in March. The Office of Management and Budget said the federal deficit will decline by $1.7 trillion this year, representing…
Read More
Energy Secretary Says Billions Needed for Power Grid Upgrade
She states electric vehicles need grid support. Secretary of Energy Jennifer Granholm says billions of dollars in upgrades are needed to the American power grid to prepare for…
Read More
Appeals Court Vacates Block on Oil and Gas Leasing Pause
Executive order stands as district court addresses lack of specificity. In January 2021, President Joe Biden paused new leases for oil and gas extraction on federal land, in…
Read More
IRS Given Deadline for Overhaul
Treasury Secretary wants a plan within six months. Secretary of the Treasury Janet Yellen asked the Internal Revenue Service to develop an operational plan for deploying the $80…
Read More
President Signs Inflation Reduction Act
Bill addresses taxes, healthcare, and climate On Tuesday, President Joe Biden signed the Inflation Reduction Act into law, one he said he had waited 18 months to sign. The…
Read More
Housing Starts Drop Nearly 10 Percent
New construction is at the lowest level since June 2020. The Commerce Department reported the number of housing starts decreased sharply in July. Measured on an annualized rate,…
Read More
Postal Rates to Increase for Holidays
USPS says the hike is temporary. The United States Postal Service filed a notice this week of a temporary price hike for this year’s peak holiday season, which…
Read More
Average Price for Gasoline Below $4
Inflation expectations are also diminishing. On Thursday, AAA posted the national average price of a gallon of regular gas at $3.990, dropping under $4 for the first time…
Read More
Senator Wyden Proposes Oil Company Tax Hike
Tax would be on “excess profits.” Senator Ron Wyden of Oregon is introducing the Taxing Big Oil Profits Act, which he says will accentuate the tax burden of…
Read More