Inflation is down, but Inflation Reduction Act doesn’t deserve credit, experts say
While price increases have cooled over the past year—the inflation rate has dropped from 9% to 3.2%—most economists say little to none of the drop came from the law.
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Biden issues order restricting U.S. investments in Chinese technology
Senior administration officials said the effort stemmed from national security goals rather than economic interests, and that the categories it covered were intentionally narrow in scope.
Credit downgrade for federal government shocks Biden aides, as more debt fights loom
While it caught the White House by surprise, the decision to downgrade U.S. government debt reflects Washington’s persistent battles over rising federal debt, now projected to approach levels unseen since the end of World War II.
Job openings fall to lowest level in 2 years as demand for workers cools
The government’s report also showed that the number of people who quit their jobs in June fell sharply to 3.8 million, from 4.1 million, another sign the job market is slowing.
Latest plan to cut student loan payments could be in for legal battle
The Biden administration calls it a “student loan safety net.” Opponents call it a backdoor attempt to make college free. And it could be the next battleground in the legal fight over student loan relief.
Biden looks to provide relief from extreme heat as record temperatures persist
President Joe Biden on Thursday plans to announce new steps to protect workers, improve weather forecasts and make drinking water more accessible, the White House says.
Senators introduce college sports bill to standardize NIL rules, regulate collectives
Charlie Baker, president of the Indianapolis-based NCAA, called the legislation “a major step in the right direction.”
Federal grant helps IEDC expand minority services to small businesses
The agency last year received $1.6 million from the federal Minority Business Development Agency and added $400,000 in matching funds.
White House taking on corporate mergers, landlord junk fees and food prices
The Biden administration on Wednesday proposed new guidelines for corporate mergers, took steps to disclose the junk fees charged by landlords and launched a crackdown on price-gouging in the food industry.
Biden administration announces cybersecurity labeling program for smart devices
Officials likened the new U.S. Cyber Trust Mark initiative to the Energy Star program, which rates appliances’ energy efficiency.
Three tax prep firms shared ‘extraordinarily sensitive’ data about taxpayers with Meta, lawmakers say
Their report urges federal agencies to investigate and potentially go to court over the wealth of information that H&R Block, TaxAct and Tax Slayer shared with the social media giant.
Councilor Keith Potts announces run for Braun’s U.S. Senate seat
Potts, a Democrat in his first term on the City-County Council, works with several local not-for-profit arts organizations.
Wait for passports creating travel purgatory, snarling summer plans
People who thought they were renewing or applying for new passports in plenty of time for their summer trips have flooded what the State Department says is a system still short-staffed from cuts during the pandemic.
Judge limits Biden administration in working with social media companies
U.S. District Judge Terry Doughty of Louisiana cited “substantial evidence” of a far-reaching censorship campaign and wrote that the “evidence produced thus far depicts an almost dystopian scenario.”
Drugmakers warn new law will deter discoveries
David Ricks, CEO of Indianapolis-based drugmaker Eli Lilly and Co., is turning up the volume on his concerns over a new law that would allow Medicare, for the first time, to negotiate drug prices.
Largest U.S. banks would survive severe recession, Fed’s ‘stress tests’ show
The Fed’s report issued Wednesday did show some relative weakness among the midsize banks and “super regional” banks, with some getting a passing grade with a smaller cushion than usual. Those results could raise eyebrows among investors and policymakers.
Congressional Budget Office: U.S. debt to soar over next 30 years
The nonpartisan agency estimates in its latest 30-year outlook, released Wednesday, that publicly held debt will be equal to a record 181% of American economic activity by 2053.
Indiana to receive $868M in federal ‘internet for all’ program
States must use the money to administer grant programs deploying or upgrading broadband networks “to ensure that everyone has access to reliable, affordable, high-speed Internet service,” according to a news release.
Indiana’s former cybersecurity director moves to federal position
Chetrice Mosley-Romero, who was appointed as Indiana’s first cybersecurity director in 2017, will continue helping the state agencies and local government entities strengthen their cybersecurity postures.
U.S. to require automatic emergency braking on heavy trucks and buses
Automatic braking systems in heavy vehicles would prevent nearly 20,000 crashes a year and save at least 155 lives, the National Highway Traffic Safety Administration said.