In today’s blog post, we’re highlighting three events that we expect to make headlines in August.
- On Aug. 12, the House of Representatives will meet to consider the Inflation Reduction Act, “a spending bill which would attempt to tackle climate change, the high cost of prescription drugs and lower the deficit by roughly $300 billion,” according to NPR. The legislation has raised questions surrounding the impact it would have on patient health care, entrepreneurs, small businesses and the nation’s record-breaking inflation rate.
- Aug. 26 will mark Women’s Equality Day in commemoration of the adoption of the 19th Amendment to the Constitution in 1920, granting women the right to vote. The day was first observed in 1973, following proclamations by Congress and President Richard Nixon. Every president since then has issued an annual proclamation recognizing Women’s Equality Day.
- Following multiple extensions, the pause on student loan repayment, which has been in effect since the start of the COVID-19 pandemic in March 2020, is due to expire after Aug. 31. The latest extension stemmed from research from the Federal Reserve showing that many Americans would face “significant economic hardship,” including delinquencies and defaults, if the moratorium was lifted. According to Forbes, student loan cancellation remains one of the most significant forthcoming decisions of Joe Biden’s presidency.
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