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>>SCOTUS To Hear Arguments In Biden Loan Forgiveness Program

(Washington, DC) -- The Supreme Court will hear arguments Tuesday on President Biden's plan to forgive an estimated 400-billion dollars in student loan debt. Biden's plan has been blocked by several legal challenges, stopping the government from canceling debt for the 26 million borrowers who have applied for relief since the program was rolled out in August. The program would cancel 10-thousand dollars in student loan debt for those earning less than 125-thousand dollars per year, and up to 20-thousand for those who received Pell Grants. Those challenging the plan in court, including several Republican-led states, argue the move is an abuse of executive authority.

 

>>The Week Ahead In Economic Reports

(Undated) -- The week ahead brings a handful of economic reports to keep a close eye on. Pending home sales are due Monday with consumer confidence and the Case-Shiller home price index following the next day. Weekly jobless claims come out Thursday and the government's always closely-watched monthly jobs report will be released Friday.

 

>>White Paper: Fed May Not Be Able To Avoid Recession

(Chicago, IL) -- The Federal Reserve may not be able to lower inflation without delivering a significant blow to the U.S. economy. That's according to a new research paper by a team of leading economists. The paper looked at previous central bank efforts to create what's called disinflation in the U.S., Germany, Canada and the U.K. They found no instance in which a central bank was successful without causing a recession. This comes as the Fed has imposed a series of interest rate hikes to bring inflation down to two-percent.

 

>>IRS Extends Filing Deadline In California Disaster Areas

(Sacramento, CA) -- The Internal Revenue Service is extending the 2022 tax filing deadline to October 16th for people in storm-disaster areas of California. The extension applies to people living in counties where a disaster has been declared by FEMA. This includes individual income tax returns, various business returns and the filings of tax-exempt organizations, normally due on May 15th. Among other things, this means that eligible taxpayers will also have until October 16th to make 2022 contributions to their IRAs and health savings accounts.

 

>>Latest Ant-Man Movie Tops At The Box Office

(Los Angeles, CA) -- A Marvel comic book sequel remains the top movie in the U.S. and Canada. "Ant-Man and the Wasp -- Quantumania" finished in first place at North America's theaters for the second straight week -- earning just over 32-million-dollars. Coming in second is the horror comedy "Cocaine Bear" with 23-million-dollars followed by the faith-based film "Jesus Revolution" with 15-and-a-half-million-dollars. Rounding out the Top Five are "Avatar -- The Way of Water" followed by "Puss in Boots -- The Last Wish."

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