Biden’s Been Working OT on the Railroad

Update 635 — Democrats Dodge a Bullet:Biden’s Been Working OT on the Railroad Yesterday, President Biden announced a tentative agreement between major freight rail carriers and unions representing the nation’s freight workers. The announcement came just one day before a strike shutting down the freight rail system. Disruptions to shipments caused by a strike could …

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CPI Moves Sideways

Update 634: CPI Moves SidewaysThe Good News in Inflation Picture Looking at news headlines about and the markets’ response to yesterday’s Consumer Price Index Report for August, you might think inflation is skyrocketing unabated. That might sell, but under the hood are a vertical drop in consumer gas prices, a drop in producer prices, and …

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2022 Congressional Endorsements

Update 633 — 2022 Congressional EndorsementsPrimary Winners in AZ, FL, MD, MI, NY, WA, WI Over the summer, shifting tides have lifted congressional Democratic midterm prospects across the board. Landmark legislative accomplishments, inflation slowing, and outrage from overturning Roe v. Wade have all contributed. Add strong Democratic candidates with great fundraising numbers and you can …

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STOCK 2.0 Working Group Offers Principles

Update 632 — STOCK 2.0 Working GroupOffers Principles; Congress Urged to Act Late yesterday, a bipartisan working group of House members published a letter to House Administration Committee Chair Zoe Lofgren outlining provisions the group seeks in a compromise STOCK 2.0 bill. As the fall legislative session begins in earnest for Congress in the next …

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What’s Next on Democrat’s Tax Agenda?

Update 631 — Overhaul Talks Over for Now,What’s Next on Democrats’ Tax Agenda? When Congress passed and President Biden signed the Inflation Reduction Act into law, numerous tax provisions were included — increased funding for the IRS, a 15 percent corporate minimum tax, a 1 percent excise tax on stock buybacks — but they did …

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A Signal, Suddenly Sick Sector

Update 630 — A Signal, Suddenly Sick SectorBut More Espousing than Acting on Housing Almost overnight, the housing market is seeing a rapid cool down with no trough in sight. The market for both sales and rentals is in a tailspin aggravated by the Fed’s tightening monetary policy. This volatility only emphasizes the instability within …

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Biden’s Dollars for Scholars

Update 629 — Biden’s Dollars for ScholarsCancels $10K in Debt; Long-Term in Doubt Within the hour, with the current student loan payment moratorium due to expire on August 31, President Biden announced another extension of the payment moratorium until December 31 and the cancellation of $10,000 of debt per borrower making less than $125,000 annually …

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Crypto Crash Begs Regs

Update 627 — Crypto Crash Begs Regs:Hill Action as Euphoria Yields to Reality As the House returns today to vote on the Inflation Reduction Act and send it to Biden’s desk, we turn towards a murkier legislative task: regulating cryptocurrencies. Following the flurry of 2022 Super Bowl ads, markets saw a crypto winter of massive …

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IRA Secures 50 Votes, en Route to Passage

Update 626 — Democratic Reconciliation:IRA Secures 50 Votes, en Route to Passage Facing an August recess deadline, Democrats in Congress are on the verge of fulfilling their economic policy promise, bringing a hitherto elusive unity to a reconciliation bill and a Senate floor vote as soon as procedurally possible. The leap forward shows lessons learned: …

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