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US Economy

Becerra: Inflation Act to Cut Drugstore Costs for Seniors

TL/DR - The text provided does not contain any essential facts, data, or arguments. It is comprised of HTML code and comments related to website functionality such as social media sharing buttons, analytics codes, and web page formatting. There is no substantive content to summarize in this article. Optimized News Article The CSS class…
US Economy

White House Reports Positive News on US Inflation Rate

TL/DR - On July 11, the US consumer inflation report showed that overall prices dropped last month, reducing annual inflation to 3.0%. Furthermore, a new initiative by President Joe Biden to collect past-due tax debts from affluent citizens managed to generate over $1 billion. The recent report indicates that wage growth has managed to keep up…
US Economy

IRS Announces $1B in Overdue Collections from Wealthy, Praises Funding

TL/DR - The IRS has collected $1 billion from millionaires who owe back taxes, targeting approximately 1,600 individuals with incomes over $1 million a year and tax debts exceeding $250,000 each. This was achieved through efforts made possible by the Inflation Reduction Act, which increased the IRS budget by roughly $80 billion over 10 years and…
US Economy

Biden’s CHIPS Act: Business Investment for Inflation Reduction

TL/DR - The US Treasury Department has reported strong business investment in the years following the COVID-19 pandemic, attributing this to the Biden administration's industrial policies in the Inflation Reduction Act (IRA) and CHIPS Act. However, the evaluation of these policies and their effect on the economy is disputed, with concerns over…