Leave it to Washington to break what works. The proposed national rate cap strikes at the heart of a system that is serving vulnerable individuals.
Expanding opportunity and mobility for women and workers
Welcome to the December edition of The Pointer newsletter. Inflation is a Grinch again this year. We examine the skyrocketing cost increases on iconic Christmas experiences and moments. We close the year reflecting on policy hits and misses.
Check out the latest tech, labor, and economic analysis below from IWF’s Center for Economic Opportunity.
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As 2023 draws to a close, we take a moment to review the best and worst policies from Washington to state capitals that impact women’s freedom and choices in the labor force as well as the entrepreneurial spirit of America.
Best:
States Dropped College Requirements For Public Jobs
Portable Benefits
Right-to-Work for Public Unions
Uber Drivers Remaining Independent in California
SCOTUS Hearing CFPB Challenge Is A Win For Freedom, Taxpayers
Worst:
IRS’ Venmo Crackdown Delayed But Not Dead This Holiday Season
FTC Prohibition On Noncompete Agreements
Lawmakers Reintroduce the PRO Act in Honor of Union Boss
European Competition Rules Could Trip Up U.S. Businesses
State-level Crackdowns on Worker Freedom
Biden’s New Overtime Rules Come With A Price
FTC Sues Amazon
Biden Sneaking Childcare Subsidy Through The Back Door
Biden Admin Wants To Punish Lenders For Asking About Immigration Status—Raising Prices For Everyone
The Grinch of Inflation
‘Tis the season to be jolly, but for many consumers, the festive cheer comes with an unexpected companion—Christmastime inflation. The cost of everyday Christmas items has risen.
A Year in Review: Best & Worst of Tech
From the Twitter Files to major antitrust lawsuits, 2023 left a lasting impact on technology policy. As we enter a new year, many questions remain: What will online speech look like in the future? Does increased public use of generative artificial intelligence tools necessitate regulation?
Senate Democrats introduced the Predatory Lending Elimination Act, a bill that would extend the Military Lending Act (MLA), which caps the effective interest rate on consumer loans (including fees) at 36%, to most consumer loans thereby making it applicable to all consumers. This is not the first time that a national rate cap has been introduced. It didn’t pass then and for good reasons.
Small-dollar loans offer access to credit to high-risk individuals–those with low or no credit history–which explains the nominally high Annual Percentage Rate (APR) interest rates. These loans are not meant to be long-term solutions and they are often paid off quickly.
Leave it to Washington to break what works. The proposed national rate cap strikes at the heart of a system that is serving vulnerable individuals. [Keep reading]
“In my state of Wyoming, it costs over $12,000 a year more to buy the very same things that we did before the massive interest rate increase and inflation. Those inflation rates are because Congress overspent during Covid and kept up Covid spending rates thereafter and continues to do that today.”
– Senator Cynthia Lummis reflecting on the failure of Bidenomics and the agenda for 2024
