Inflation Reduction Act would grant Medicare the authority to negotiate drug prices and cap out-of-pocket costs at $2,000 per year.
INN Insider News
WASHINGTON, D.C.— Millions of patients in the Medicare program could eventually see lower prescription drug costs if Democrats pass their latest drug pricing plan into law. The plan, which cleared a major hurdle Sunday when the Senate narrowly approved it, has four major policies— it would allow Medicare to negotiate prices for some costly drugs, penalize…
Aug 11- Slowing U.S. inflation may have opened the door for the Federal Reserve to moderate the pace of upcoming interest rate hikes, but central bank officials left no doubt that they will continue to tighten monetary policy until price pressures are completely over. The Fed is "a long, long way from declaring victory" on inflation, Federal Reserve Bank of…
After almost a year of concerns over inflation and a hot economy, the Federal Reserve's repeated interest rate hikes have slowed the economy and raised recession concerns. That was the point: The Fed's actions were rooted in the decision that lower prices are more important than continued job growth. In 1937, the Federal Reserve argued explicitly that "price…
Wall Street operations recover, as the announcement of a decrease in inflation levels in the US market supports expectations that the Federal Reserve will be less aggressive. The main indexes of the New York Stock Exchange are led by the gains of the technological Nasdaq, which rises 1.96 percent reaching 12,736.29 points; the industrial Dow Jones increases…
While generally praising the bill, Sharon Parrott, president of the Washington D.C.- based Center for Budget and Policy Priorities, said,“ However, the current bill does nothing to make affordable coverage available to the more than 2 million people with incomes below the poverty line who are uninsured because their states have refused to adopt the Medicaid…
U.S. inflation slowed in July more than expected due to lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively raising interest rates. The consumer price index rose to 8.5 percent from a year earlier, cooling from June's 9.1 percent advance, which was the largest in four decades, Labor Department data showed Wednesday.
The IRS has been on a congressionally imposed starvation diet virtually since the 1970 s, which has been a get-out-of-paying ticket for corporations and the wealthy for all that time. Scoffing at the tax laws won't be so easy for them going forward, because the act almost doubles the IRS budget, providing $80 billion in new funds over the next 10 years.
And the annual rate of inflation in July edged down to 8.5% from 9.1% in June, according to the Bureau of Labor Statistics in a report issued Wednesday. A slowdown in inflation could not be more welcome to the Biden administration and other Democrats haunted by fears that voter fury over continual surges in the cost of living would translate into disaster at the…
Aug. 10— ALBANY— A 21- year-old Albany man pleaded guilty Tuesday to charges related to a COVID-19 unemployment scheme that took more than $200,000 from the state Department of Labor. Kahleke Taylor, 21, pleaded guilty to mail fraud, wire fraud and aggravated identity theft charges, according to the U.S. Attorney's Office, Northern District of New York.
–States that ended pandemic unemployment aid saw "a substantial rise" in employment, according to a recent working paper from the Federal Reserve Bank of St. Louis. The program provided weekly payments of $600 during most of 2020, although it was subsequently reduced to $300 per week in 2021.. As the payments were reduced, the program was also expanded to include…
Stocks retreated slightly in New York today as traders and investors are looking ahead to July inflation data and awaiting more signals or clues from some Federal Reserve governors on the monetary authority's upcoming decisions. The Dow Jones Industrial Average declined 0.2%, the broader S&P 500 index fell 0.4% while the tech-heavy Nasdaq declined 1.2%,…
Trustee Eric Terry filed a motion late Friday seeking court approval to hire real estate brokers to sell the mansion at 555 Argyle Ave. in Alamo Heights, which overlooks Olmos Dam. Pettit valued the Argyle property at $3.6 million in his bankruptcy, with Wells Fargo Home Mortgage owed about $2 million. Terry wants to hire broker Fred Hutt of Compass RE Texas Inc….
Consumer expectations for U.S. inflation over the next few years declined sharply, according to a survey by the Federal Reserve Bank of New York. According to the New York Fed's Survey of Consumer Expectations, inflation expectations for this year fell to 3.2% in July, down from a forecast of 3.6% the previous month. The Federal Reserve initiated an interest rate…
Inflation and the looming danger of a recession are the most urgent economic and political issues of our day, driven by price explosions in essential goods like energy and food. But the Federal Reserve, despite its responsibility for price stability, has no tools to contain these skyrocketing prices. Instead Congress can stabilize prices and reduce…
Louisiana insurers have paid or reserved to pay $13.1 billion on Hurricane Ida claims through June 30, 2022, the state's department of insurance announced this week. Policyholders have filed 460,709 claims of all types from Hurricane Ida as of the end of June, according to the Louisiana Department of Insurance. Jefferson Parish reported the highest number of…
CVS plans to make a big move in primary care by investing or acquiring a provider by the end of this year. CVS is looking for providers with a strong management team and a robust tech stack. "Obviously, the ability to scale, given the size of the company that we are and a pathway to profitability," CVS CEO Karen Lynch said during the company's earnings call Wednesday.
Aug. 5— A lawyer angered a San Antonio bankruptcy judge by disclosing in open court that ex-attorney Christopher "Chris" Pettit— accused of plundering millions of dollars belonging to his clients— had tried to commit suicide. Keyser divulged the sensitive information to support Pettit's request for $850 in mental health services as part of a monthly budget.
We were scheduled to publish Tuesday through Thursday this week, but we sat down at the keyboard this morning because we didn't want to sit out the big news out of the Senate. Today's edition: What you need to know about the Senate's passage of Democrats' long-delayed health and climate bill. The health care winners and losers in Democrats' economic package.
