Treasury Secretary Janet L. Yellen urged Congress to raise the nation’s statutory debt limit to a level that would not be reached until after the 2024 election, thereby neutralizing the ability of Republicans to prevent the U.S. from paying its bills to gain Democratic concessions.
On Tuesday, while August inflation remained uncomfortably high, President Biden stated that he was “celebrating” the passage of the Inflation Reduction Act, drawing criticism from politicians and conservatives. Biden attended a ceremony at the White House to celebrate the passing of the Inflation Reduction Act, and he was joined by congressional allies and legendary singer/songwriter James Taylor. The Inflation Reduction Act is Biden and congressional Democrats’ most ambitious effort to date to rein in rising prices before the November elections.
If you think inflation is a problem, you might be paying up to 20% more for fast food if you live in California. It was 21 Democrats who passed the bill through the California Senate on Monday. The bill establishes a government panel that will set wages for an estimated half-million fast food workers, a first-in-the-nation effort to regulate the workplace.