ASAToday for July 3rd, 2025

Debt Ceiling Update Treasury Secretary Yellen last month began deploying “extraordinary measures,” such as suspending investments in certain federal trust funds, to keep from exceeding the $31.4 trillion statutory borrowing cap. Yellen estimated at the time that those accounting tools may not last beyond early June. The agency’s current crop of extraordinary measures is set…

Supreme Court on Student Loan Forgiveness On Tuesday, the Supreme Court heard oral arguments in cases challenging the Biden administration’s student loan relief program; one from a group of Republican-led states and another from borrowers who challenged their ineligibility for forgiveness.  Congressional Republicans want the court to restrict the regulatory power of the Biden administration…