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Hello and welcome to AS USA’s live blog on inflation relief, following the latest news from Washington DC to Wall Street.
Inflation has been hitting families across the US hard, and as election day approaches, both parties are trying to convey their plans to deal with the looming price crisis.
This winter, the US Energy Information Adminstration has estimated energy costs could increase by over twenty-five percent compared to last winter. With OPEC slowing down production and US energy companies unwilling to invest the capital expenditure needed to boost production, prices at the pump could rise as well.
To help households struggling, various states, including those run by Republicans, have sent inflation relief checks out, to increase disposable income and offset the negative impacts of inflation on consumer spending.
From the White House, President Biden seems confident that the courts will be unable to challenge his move to cancel up to $20,000 in student debt for some borrowers.