One year after launching the Americas Partnership for Economic Prosperity (APEP), the Biden Administration celebrates the initiative’s progress in fortifying economic ties across the Western Hemisphere. Bringing together twelve nations that represent a vast share of the region’s GDP, APEP focuses on supply chain resilience, fostering investment, and driving sustainable growth. This past year saw…
President Biden announced that inflation has fallen to 2.1%, near the 2% target, without a recession, while the economy has grown over 12%—the fastest pace in any 21st-century presidential term. Inflation-adjusted incomes are up nearly $4,000, and gas prices have dropped to $3.13 per gallon, with prices below $3 in 21 states. Looking ahead, the…
On October 29, 2024, President Joe Biden announced a $3 billion federal investment to upgrade and electrify port infrastructure nationwide, supporting 40,000 well-paying union jobs. Speaking from the Port of Baltimore, Biden emphasized the importance of cleaner operations to reduce pollution and improve air quality in nearby communities. The funding includes $147 million for Maryland’s…
The G7 has agreed to provide $50 billion in Extraordinary Revenue Acceleration (ERA) loans to Ukraine, helping fund its military, budget, and reconstruction needs. These loans will be repaid using future revenues from immobilized Russian sovereign assets, aligned with international law and the legal frameworks of each G7 member. Disbursement is set to begin by…
President Joseph R. Biden, Jr. issued a disaster declaration for New York on October 21, 2024, following severe storms and flooding that struck Lewis, Oswego, and Suffolk counties on August 18-19, 2024. The declaration enables federal assistance to support state, tribal, and local recovery efforts, including funding for emergency repairs and hazard mitigation statewide. Eligible…
President Biden announced today that over 1 million public service workers, including teachers, firefighters, and nurses, have benefited from student debt cancellation under the Public Service Loan Forgiveness (PSLF) program. This achievement marks a major milestone in the Biden-Harris Administration’s efforts to reform the student loan system. An additional $4.5 billion in forgiveness was granted…
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