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August 2022

August 16

President Biden signed a sweeping $750 billion health care, tax, and climate bill into law at the White House. The bill will impose a minimum tax on businesses, levy a one percent tax on stock buybacks, provide funding to double the size of the IRS with 87,000 new agents to perform audits, and much more. The so-called “Inflation Reduction Act” is a short-sighted and regressive action that punishes Americans who have watched prices skyrocket over the past year and a half.

August 24

President Biden signed an executive order that transferred student loan debt to the general public. The Biden action will encourage more reckless borrowing, while stoking higher inflation and saddling taxpayers with hundreds of billions of dollars in new debt. Not only is the executive order likely unconstitutional – it also serves as an insult to Americans who chose not to go to college or worked hard to pay off their student loan debts, all while supporting higher tuition rates.

August 30

President Biden’s Department of Homeland Security issued a new final rule to protect DACA recipients from deportation. The new rule removed the requirement that DACA renewal applicants are required to apply for work authorization, but affirmed that recipients can be considered “lawfully present” for purposes of the Affordable Care Act and in other contexts.