Stories tagged: "economy"
The debt ceiling is a numerical limit, set by Congress, on how much money the federal government can borrow to pay its bills. Increasing the debt ceiling is a routine congressional task, but Republicans want to hold it hostage to make cuts to Social Security and Medicare, even though failing to raise the limit would cause massive economic devastation.
Under Democratic control, the federal government acted to lower healthcare and prescription drug costs; fight climate change and lower energy costs; invest in gun safety and mental healthcare; and implement a generational investment in American industry, manufacturing, and infrastructure.
Democratic lawmakers tried to pass a second bill that would have added paid sick days to the agreement, but were unable to reach the 60-vote threshold needed in the Senate, due to most Republican senators opposing the measure.
Republicans have said they want to extend the Trump tax cuts, which mostly benefited billionaires and corporations; cut spending on Social Security and Medicare; and repeal the Inflation Reduction Act, which lowered the cost of prescription drugs and raised taxes on corporations.
The commonwealth’s wage gap exists in multiple groups. However, the hardest hit teetered the lines of both racism and sexism.
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All 50 Senate Democrats—including Virginia Sens. Tim Kaine and Mark Warner—voted to pass the Inflation Reduction Act of 2022, an impactful bill with a wide array of support from economists, climate experts, healthcare activists, and more.
Amid rising inflation costs, the annual sales tax holiday is here to help Virginia’s consumers save money on a variety of items, including emergency supplies and back-to-school needs.