Editor: David Reiss
Brooklyn Law School

October 6, 2017

Friday’s Government Reports Roundup

By Jamila Moore

  • 2018 fiscal year budget is forging forward. Recently the House of Representatives passed the 2018 fiscal year budget. Their budget is designed not to increase the national deficit; however, the Senate’s competing fiscal year 2018 budget will increase the national deficit by $1.5 trillion over the course of the next ten years. The Senate’s budget causes such a deficit because it promotes the proposed tax reform efforts as well as reduces the corporate tax rate. While the House beat the Senate to moving forward with 2018 budget plans, the Senate will introduce the bill the week of October 16.
  • Today Americans are better suited to lead financially sound lives; however, there are roughly 26 million Americans that are “credit invisible.” The Consumer Financial Protection Bureau (CFPB), recently released a report that studied the effects of this fact. Through the study they found that many minorities are likely not to have a credit score or fail to have a sufficient credit history, thereby making them “credit invisible.” This may seem like a small issue to mitigate, but without such credit scores, their lives as consumers are limited.
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