GO in the Know: Inflation Reduction Act Effects & Top Financial News for August 9

GO in the Know
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Today is Hold Hands Day, but you don’t need us to hold your hand as you run through the list of Tuesday’s top financial stories. You got this.

The Big Lead: Inflation Reduction Act’s Tax Reform

To help pay for the new provisions in the Inflation Reduction Act, the U.S. government will institute new tax structures. The changes will only apply to individuals and corporations making more than $400,000 annually and will not affect lower and middle class workers or small businesses.

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Economy Spotlight: Food Prices Dropped In July

If you’ve noticed some food prices dropping at the grocery store, you’re not imagining things. According to the United Nations Food and Agriculture Organization, there was a drop in costs for high-demand foodstuffs in July compared to the previous month.

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That’s Interesting: Inflation Reduction Act Seeks To Improve Prescription Drug Prices

Millions of Americans could benefit from reduced health insurance fees and prescription drug costs as part of the Inflation Reduction Act.

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Bonus: 9 Ways to Save on Major Household Appliance Repairs and Purchases

We spoke to experts and homeowners alike to find creative ways to save money when a household appliance breaks.

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