Last night, the Senate Parliamentarian ruled that several key aspects of the proposed “Big Beautiful Bill” violate the Byrd Rule. This means that they cannot be included in the budget reconciliation bill, as they would need 60 votes to pass the Senate. According to a press release from the Senate Budget Committee ranking member, the following aspects related to higher education would require 60 votes to pass, and therefore can’t be included in the current proposal: Changes to loan repayment plans for existing student loan borrowers, including migrating them into an amended version of Income-Based Repayment. Changes to PSLF eligibility…

June’s Consumer Price Index report will be released on July 15. Nowcasts project relatively low month-on-month inflation of 0.23% to 0.25%, that’s according to the analysis of the Federal Reserve Bank of Cleveland. If so, that would signal continued subdued inflation. It would also be consistent with cooler inflation readings reported since February of this year. Inflation would still be running above the Federal Open Market Committee’s 2% goal on an annual basis, with most inflation metrics closer to 3% than 2%. However, some of that deviation from target on an annual basis reflects rising prices between November 2024 and…