Current Events in July 2025

• President renews calls for pharmaceutical industry to “cut prices now”
• Consumer groups demand federal enforcement, not just rhetoric
• Health organizations warn against political grandstanding without action

President Trump’s latest demands that drugmakers “cut prices now” have ignited a wave of reactions from consumer and health advocacy organizations, many of which say his words ring hollow without policy enforcement to match.

In a series of statements and social media posts, Trump urged pharmaceutical companies to slash prescription drug prices, calling the current cost burden “unacceptable” for American families. While the President claimed he would hold “Big Pharma accountable,” consumer watchdogs say they’ve heard similar pledges before—with few lasting results.

“It’s easy to call for lower prices on Twitter,” said Robert Weissman, president of Public Citizen. “What’s hard is actually standing up to drug corporations and passing policy that forces them to act.”

Groups say demands fall short without action

Organizations like the National Consumers League (NCL) and AARP welcomed the attention on high drug prices but questioned whether the White House is willing to back up its demands with meaningful regulation.

“Consumers are desperate for relief,” said Sally Greenberg, executive director of NCL. “But we need more than finger-pointing—we need enforcement, price negotiation power for Medicare, and an end to anti-competitive practices.”

AARP echoed those sentiments, pointing to its research showing that the average annual cost of widely used prescription drugs has nearly tripled over the past 15 years. “Older Americans should not have to choose between filling a prescription and buying groceries,” said Nancy LeaMond, AARP’s executive VP. “We urge the administration to support real reforms.”

Some public health organizations expressed concern that Trump’s latest push is more political posturing than policy development.

“The public deserves leadership, not slogans,” said Dr. Michael Sinha, a physician and drug policy researcher at Harvard. “Presidents from both parties have railed against high drug prices, but without legislation or regulatory muscle, not much changes.”

Dr. Sinha pointed to past proposals like international reference pricing and transparency rules for TV ads—many of which were proposed but never implemented or were blocked in court.

Pharma pushes back

In response to Trump’s remarks, the Pharmaceutical Research and Manufacturers of America (PhRMA) released a statement defending the industry’s pricing structure and highlighting the role of pharmacy benefit managers (PBMs) in determining what consumers pay.

“We agree patients should pay less at the pharmacy counter,” PhRMA said, “but we must fix the broken system of middlemen that drives up out-of-pocket costs.”

The industry group also cited the cost of innovation and global demand as reasons why drug prices remain high in the U.S.

PBMs quickly fired back. "America's pharmacy benefit managers support lower prices for every prescription drug for every patient and have called on drug companies to lower list prices to make medicines more affordable. PBMs stand ready to pull through lower drug prices to health plans and patients, as well as continue to administer pharmacy benefits and clinical programs that help patients safely access lower cost medications," the Pharmaceutical Care Manager Association said in a prepared statement.

“Drug companies alone set and raise drug prices and can lower the list prices at any time. In addition, some drug companies block lower cost generics and biosimilars from entering the market, leading to Americans paying the highest prescription drug prices in the world," it said.

Advocates want specific measures

Policy groups are urging the White House to move beyond rhetoric and take specific steps, including:

• Allowing Medicare to negotiate prices directly

• Capping out-of-pocket costs for seniors

• Reining in patent abuses and exclusivity deals

• Importing safe, lower-cost drugs from abroad

“There’s no mystery to solving this,” said David Mitchell, founder of Patients for Affordable Drugs. “We know what works—what we lack is the political will.”

While Trump’s remarks have once again spotlighted the issue of rising drug costs, observers say any real change will depend on whether the administration follows through with policy proposals or pushes for congressional action.

In the meantime, advocates are watching closely—and warning that time is running out for patients who need relief now.

“Talk is cheap,” said Greenberg. “Prescription drugs aren’t.”

• CEO Jim Farley says the company is poised to unveil a "breakthrough" EV and U.S.-built platform, calling it a pivotal moment in Ford’s history.

• The strategy aims to leapfrog Chinese EV rivals by focusing on affordability, efficient design, and domestic battery production.

• Ford’s Louisville Assembly Plant and BlueOval Battery Park in Michigan will anchor the automaker’s future in EV manufacturing.

Ford CEO Jim Farley says the company will reveal a new strategy next week that will be a “Model-T moment” for the 120-year-old automaker. Scheduled to be unveiled on August 11 in Kentucky, Ford’s new EV roadmap will be a major shift toward profitability and global competitiveness, with a spotlight on American engineering and production, he said.

Farley revealed that Ford will debut a “new family of vehicles” that he says will offer “incredible technology, efficiency, space and features.” Central to this strategy is the launch of a new EV platform designed and built in the U.S., marking a clear effort to distance Ford from its first-generation EVs and signal a more competitive approach against global, especially Chinese, EV manufacturers.

“This is a Model-T moment for us at Ford,” Farley told investors during the company's earnings call. “A chance to bring a new family of vehicles to the world,” the Detroit News reported. He emphasized that the vehicles would be more than just new designs — they represent a wholesale reinvention of Ford’s EV engineering and manufacturing playbook.

Louisville becomes Ground Zero

The Aug. 11 announcement will take place at Ford’s Louisville Assembly Plant, a site already transitioning toward EV production. The plant, which had been home to the Ford Escape and Lincoln Corsair, was earmarked in Ford’s 2023 UAW contract for a $1.2 billion investment and an “all-new EV product.” Recent filings also show that Ford is retooling the plant to support EV production, including the addition of charging infrastructure.

Its proximity to the BlueOval SK Battery Park in Kentucky and Ford’s lithium iron phosphate (LFP) battery plant in Marshall, Michigan, reinforces the company’s U.S.-centric production model — key to leveraging domestic tax incentives and reducing costs.

Lessons from China

Farley acknowledged that Ford’s chief EV competition isn’t the traditional global automakers but rather Chinese companies like BYD and Geely, which are known for building low-cost, high-quality electric cars. He cited a recent executive trip to China, where Ford’s leadership studied Chinese automakers to learn from their vertically integrated supply chains and cost-efficient platforms.

“Our strategy is very simple,” Farley said. “We believe the only way to really compete effectively with the Chinese… is to radically reengineer and transform our engineering, supply chain and manufacturing process.”

Ford’s refreshed EV approach will focus on a limited number of body styles — known in the industry as “top hats” — on flexible vehicle platforms. The idea is to concentrate resources where Ford can turn a profit. Despite increasing EV sales, the automaker reported a $1.3 billion loss in its Model e division in Q2, up from $1.1 billion a year earlier.

To hedge against EV market fluctuations, Ford will continue offering a range of powertrains, including hybrids and extended-range electric vehicles. “We think that’s a much better move than a $60,000 to $70,000 all-electric crossover,” Farley said.

• Over $200 million in forfeited assets will be distributed to sex trafficking victims exploited through Backpage.com between 2004 and 2018.

• The DOJ calls this the largest victim compensation effort of its kind, targeting illicit profits from one of the internet’s most notorious sex trafficking platforms.

• Victims have until Feb. 2, 2026, to file petitions for financial compensation through a dedicated website and hotline.

The U.S. Department of Justice (DOJ) announced today the launch of a historic victim compensation initiative, aimed at distributing more than $200 million in forfeited assets to those whose sex trafficking was facilitated through the now-defunct website Backpage.com. This marks the largest victim remission process ever undertaken in a human trafficking case.

“Backpage.com facilitated the exploitation of women and children as one of the largest online advertisers for commercial sex and sex trafficking over its 14-year existence,” said Acting Assistant Attorney General Matthew R. Galeotti of the DOJ’s Criminal Division. “Today’s announcement underscores the Department’s unwavering commitment to use forfeiture to take the profit out of crime and to compensate victims.”

A long-awaited victory

Between January 1, 2004, and April 6, 2018, Backpage.com operated as a hub for commercial sex advertising, becoming a primary conduit for sex trafficking operations—including the trafficking of minors. After the website was seized by the U.S. government in 2018, years of criminal prosecutions followed. Executives and affiliated businesses were convicted of conspiracy to facilitate unlawful commercial sex, money laundering, and other federal offenses. They are now serving federal prison sentences.

In December 2024, the DOJ secured the forfeiture of over $200 million in assets linked to Backpage's illicit profits. Those funds are now being deployed to support eligible victims, as part of the department’s broader mission to return criminal proceeds to those harmed.

Petition process now open

Victims may now begin filing petitions to claim compensation for financial losses incurred as a result of their trafficking. Individuals, their legal representatives, or estates of deceased victims are eligible if the trafficking was facilitated through Backpage.com within the 2004–2018 timeframe.

The DOJ has appointed Epiq Global Inc. as the Remission Administrator. Victims can access the petition form and additional information at www.backpageremission.com or contact Epiq directly by phone (1-888-859-9206 toll-free or 1-971-316-5053 for international callers), email, or mail. The final deadline to submit a claim is February 2, 2026.

The investigation and forfeiture process was a joint effort among the U.S. Postal Inspection Service, the FBI, and IRS Criminal Investigation. Federal agents followed financial trails, tracked down illicit transactions, and coordinated the seizure of assets.

“Sex trafficking is one of the most horrific crimes we confront as a society,” said IRS-CI Chief Guy Ficco. “The money always leaves a trail—and that’s where we come in.”

The DOJ emphasized that no payment is required to participate in the compensation process and urged victims to rely only on the official website and channels for information.

Delivering justice beyond prosecution

This landmark remission effort reflects the DOJ’s increasing emphasis on compensating victims—not just punishing perpetrators. Since 2000, its Money Laundering and Asset Recovery Section (MLARS) has returned more than $12 billion in forfeited funds to crime victims.

“Today’s announcement shows the FBI’s commitment to ensuring that those who profit from human trafficking face the consequences of their actions,” said FBI Assistant Director Jose A. Perez. “We will continue to work alongside partners to thwart this industry by decimating its capacity for monetary gain while seeking safeguards for its victims.”

For More Information:
Visit: www.backpageremission.com
Call: 1-888-859-9206 (toll-free) or 1-971-316-5053 (international)
Deadline to file: February 2, 2026.

• Stronger distracted driving, seat belt, and speed camera laws helped Canada reduce road fatalities while U.S. deaths surged.

• From 2011 to 2021, U.S. road deaths rose 33% while Canada’s fell 18%, despite more Canadians driving farther.

• Study calls for U.S. adoption of “Safe System” policies to reverse fatality trends and meet IIHS’s 30x30 target.

A new study comparing road safety in the United States and Canada reveals a striking divergence in fatal crash trends over the past decade—one driven largely by differing policies and enforcement approaches. Researchers from the Insurance Institute for Highway Safety (IIHS) and Canada’s Traffic Injury Research Foundation (TIRF) say the U.S. could substantially reduce road deaths by adopting the kind of evidence-based laws that have proven effective in Canada.

“The U.S. could learn a lot from our northern neighbor,” said IIHS President David Harkey. “Our countries are culturally very similar, so there is reason to believe that many policies that work there could help the U.S. get back on the right track when it comes to road safety.”

Fatalities rising in U.S., falling in Canada

Between 2011 and 2021, the number of traffic fatalities in the U.S. surged 33%, from 32,479 to 43,230. Meanwhile, Canada recorded an 18% drop in road deaths, from 2,166 to 1,776 between 2011 and 2020, the last year for which Canadian data was available. This progress came even as Canada experienced greater increases in population, licensed drivers, and vehicle miles traveled compared to the U.S.

Researchers noted that per capita crash deaths in the U.S. are more than twice the average of 28 other high-income countries surveyed. In contrast, Canada ranks 14th among those nations in road safety performance.

Key differences in policy and enforcement

The study found that Canadian laws governing distracted driving, seat belt use, and speed safety cameras were more comprehensive and broadly enforced than in the U.S. While several U.S. states have enacted similar laws, they apply to a smaller proportion of the population.

Notably, statistical models used in the study demonstrated that these policy differences contributed significantly to the divergent fatality trends. Researchers emphasized that if the U.S. had laws as widely implemented as Canada’s in these three areas, road deaths would have been lower—though still rising—suggesting that additional interventions are necessary.

Specific Crash Trends Tell a Story

The report highlighted several crash categories where the contrast between countries was especially stark:

• Pedestrian and cyclist deaths rose 64% in the U.S. but fell 17% in Canada.

• Large truck-related fatalities increased 54% in the U.S. and declined 24% in Canada.

• Crash deaths among young drivers dropped 52% in Canada but rose 17% in the U.S.

• Alcohol- and speed-related fatalities both increased in the U.S. while decreasing in Canada.

The findings point to deeper systemic differences in how the two countries address road safety. For instance, Canada imposes administrative penalties for drivers with blood alcohol levels as low as 0.05% — a threshold that carries no penalties in most U.S. states. Canadian police can also require breath tests at roadside stops without needing reasonable suspicion, and refusal to comply is a criminal offense, measures that do not exist in the U.S.

“Safe System” approach needed?

IIHS has recently launched its 30x30 Initiative, a plan to reduce U.S. road fatalities by 30% by 2030, reversing the more than 30% increase seen in recent years. Achieving this goal will require a multifaceted policy shift, researchers say, inspired in part by the “Safe System” approach adopted by Canada and other nations.

“Many of the countries that managed to improve road safety in recent years have leaned into the Safe System framework, which approaches risks from all angles to create overlapping layers of protection and ensure that no single mistake is fatal,” said IIHS Senior Research Scientist Becca Weast.

Craig Lyon, lead author of the study and director of road safety engineering at TIRF, stressed that laws alone aren’t enough. “Thoughtful implementation combined with stakeholder consultation are critical elements of success,” Lyon said. “Equally important, public education and transparency with respect to implementation are necessary to combat misinformation and establish widespread support.”

A Delta Airlines flight from Salt Lake City to Amsterdam made an emergency stop in Minneapolis after encountering severe turbulence. There were several injuries and 25 passengers required treatment at area hospitals.

It’s the latest in a series of commercial aviation mishaps that began with the January 29, 2025 collision between an American Airlines regional jet and a U.S. Army Black Hawk helicopter in Washington, DC, killing all 67 people aboard both aircraft. Since then, there have been a number of accidents and close calls.

Non-fatal commercial accidents

Delta Airlines Flight 4819 ( Toronto, Canada)

A Delta regional jet flipped over while landing on a Minneapolis to Toronto flight when a landing gear broke. There were no fatalities but 18 people were treated for injuries.

JetBlue Flight 488 — July 4, 2025 (Orlando, Florida)

While taxiing at Orlando International Airport, the Airbus A320 experienced a hydraulic issue and veered off into the grass. No injuries; passengers evacuated safely back to the terminal. FAA investigating.

American Airlines Flight 1665 — June 25, 2025 (Las Vegas, Nevada)

The Airbus A321 en route to Charlotte experienced an engine issue shortly after takeoff and returned safely to Las Vegas. No injuries, investigation ongoing.

GoJet Flight 4423 (CRJ‑700) — July 1, 2025 (St. Louis, Missouri)

Reported possible smoke onboard; the flight returned to Lambert International Airport without injuries. FAA investigating.

American Airlines Boeing 737 Max - July 27, 2025 (Denver, Colorado)

Passengers aboard an American Airlines Boeing 737 evacuated using emergency slides after a landing gear caught fire during an aborted takeoff. One passenger was hospitalized with minor injuries.

Close calls

Southwest Flight 1496 — July 25, 2025 (Burbank -- Las Vegas)

The Boeing 737 performed a dramatic descent after receiving collision alerts to avoid a Hawker Hunter jet. Two flight attendants were injured; flight landed safely. FAA is investigating.

Army Helicopter Separation Violations — May 1, 2025 (Washington, D.C.)

Army Black Hawks violated separation standards near Reagan National Airport, causing at least two near misses with commercial flights (Embraer E‑170, Airbus A319). FAA restricted military helicopter operations near the Pentagon afterward.

B‑52 Bomber / SkyWest (Delta Connection) Near-Collision — July 18, 2025 (Minot, North Dakota)

A U.S. Air Force B‑52 bomber and a SkyWest passenger jet (Delta Connection) came within close proximity. The passenger jet performed an aggressive go-around and landed safely. Investigation ongoing.

The incidents follow two decades of remarkable airline safety. The January 29 mid-air collision in Washington was the deadliest in the U.S. since 2001, prompting ongoing National Transportation Safety Board hearings and legislative proposals to require military and all aircraft to use ADS‑B tracking systems.

• Among midlife women, only about 21% reached ideal cardiovascular health scores at baseline, per the American Heart Association’s Life’s Essential 8 (LE8) tool.

• Glucose levels, blood pressure, nicotine exposure, and sleep quality emerged as key drivers of risk for future heart disease or mortality.

• Improvements in LE8 scores over time corresponded with more favorable vascular markers and lower rates of cardiovascular events and death.

As women move through the menopause transition — typically in their late 40s and early 50s — they face important shifts in heart health that often go unnoticed. 

A recent study published in Menopause dives into how lifestyle and biological metrics grouped under the American Heart Association’s “Life’s Essential 8” (LE8) checklist during this phase can predict long‑term cardiovascular outcomes. 

"Previously we've shown that the menopause transition is a time of accelerating cardiovascular risk," senior author Samar R. El Khoudary, Ph.D., M.P.H., professor of epidemiology at Pitt's School of Public Health said in a news release. "This study underscores that it's also an opportunity for women to take the reins on their heart health."

The study

The team analyzed data from nearly 2,924 women, average age 46, who were part of the Study of Women’s Health Across the Nation. 

At baseline and follow-up visits, women received scores on the LE8 components: diet, physical activity, nicotine exposure (smoking), sleep, body mass index, cholesterol, blood sugar (glucose), and blood pressure.

They tracked how each woman’s total LE8 score — and changes in that score over time — related to:

• Subclinical vascular health markers, such as carotid artery thickness, plaque presence, and arterial stiffness.

• Actual cardiovascular events, including heart attack, stroke, heart failure, or procedures like revascularization (n=213 events).

• All‑cause mortality, with 161 deaths recorded.
  

Statistical models adjusted for age and other potential influences to isolate the effect of LE8 scores and changes in scores.

The results

Ultimately, the researchers identified a link between women who had better LE8 scores and overall better health outcomes. 

• Only about 21% of these midlife women maintained ideal LE8 scores (a total score ≥ 80) across visits.

• Women with higher baseline LE8 scores, and those whose scores improved over time, showed healthier arteries, reduced plaque, and less arterial stiffness. They also had lower rates of cardiovascular events and death.

• Of the eight LE8 components, blood glucose, blood pressure, and nicotine exposure were most strongly linked with risks across vascular and event outcomes.

• Crucially, sleep quality stood out: better baseline sleep and improvements in sleep score were associated with lower cardiovascular events and mortality, suggesting sleep uniquely contributes to heart health during menopause.
  

"With heart disease being the leading cause of death in women, these findings point to the need for lifestyle and medical interventions to improve heart health during and after menopause among midlife women," Dr. El Khoudary said.

• Long-term cycling programs appear to reshape brain signals in Parkinson’s patients
• Deep brain stimulation recordings reveal neural changes after 12 sessions
• Findings suggest dynamic exercise may activate broader brain networks

A groundbreaking pilot study from University Hospitals and the VA Northeast Ohio Healthcare System suggests that dynamic cycling programs may do more than ease the tremors of Parkinson’s Disease—they may actually help rewire damaged brain circuits.

The research, published in the June 2025 issue of Clinical Neurophysiology, taps into deep brain recordings to explore what’s happening neurologically in patients who participate in exercise regimens. The study builds on earlier work that confirmed the physical benefits of activity for Parkinson’s patients but goes further by offering a glimpse into how the brain itself may be adapting.

“We’ve already established over years of study that dynamic cycling regimens are beneficial for treating Parkinson’s tremor,” said Dr. Aasef Shaikh, the study’s principal investigator. “The latest study adds deep brain stimulation (DBS) recordings to show how long-term exercise might be rewiring neural connections in the brain.”

Deep dive Into the Parkinson’s brain

Led by Dr. Shaikh and PhD candidate Prajakta Joshi, the study focused on participants who had previously received DBS implants—a common treatment for motor symptoms in Parkinson’s Disease. These implants not only provide symptom relief but also allow researchers to monitor brain activity in real time.

The study included 12 cycling sessions over four weeks, using a specially designed adaptive bike that adjusts resistance based on each rider’s pedaling effort. A connected game screen challenged participants to maintain 80 RPM, with visual feedback encouraging continuous effort. The bike’s push-and-pull assistance, researchers believe, may be key to stimulating motor improvements.

“It’s not about how fast you can go, but how your body adapts to the variability,” said co-author Lara Shigo, a Kent State PhD candidate. “That unpredictability may actually train the brain more effectively.”

While immediate brain signal changes were not observed, the team saw significant alterations after 12 sessions. These changes were measured in the same brain region where Parkinson’s disease disrupts normal function, offering strong evidence that neural plasticity may be at play.

How exercise helps

Although DBS systems provide a window into a specific brain region, Joshi and the team believe that much larger networks may be affected by exercise.

“There may be a broader circuit involved,” Joshi said. “Upstream and downstream pathways could be influenced, meaning we might be seeing a network-level change that drives motor improvement.”

This insight challenges the conventional view that exercise benefits Parkinson’s patients solely through muscular or cardiovascular gains. Instead, it hints at long-lasting neurological effects that may guide future treatment strategies.

“The good news,” Joshi added, “is that our next investigations could bring us closer to revolutionary and personalized treatments for PD.”

The road ahead

Dr. Shaikh credited the partnership between University Hospitals and the VA Northeast Ohio Healthcare System for making the study possible. The collaboration expanded access to patients, including military veterans, and combined research and clinical care in a powerful way.

Funded in part by a VA Merit Award and philanthropic support, the study’s next phase will aim to deepen understanding of which brain circuits are involved—and how they might be targeted for non-invasive, personalized therapy.

“We’re still in the early stages,” Shaikh said. “But this gives us a real roadmap.”

• What was studied: Whether kids who eat certain sweeteners (like aspartame, sucralose, glycyrrhizin, and added sugar) may face a higher risk of early puberty — especially when they carry genes that predispose them.

• How they looked at it: Data from 1,407 Taiwanese teens, using urine tests and surveys to measure sweetener intake, and a 19‑gene polygenic risk score for genetic predisposition.

• What they found: Children who consumed more of these sweeteners were more likely to develop central precocious puberty, with stronger associations in genetically susceptible boys and girls.

A new study presented at ENDO 2025, a global conference on endocrinology research,  discovered that many common sweeteners may be linked to earlier puberty in children. 

The risk rises if the child also carries certain genetic traits known to influence the timing of puberty. According to the findings, the higher the sweetener intake, the higher the observed risk of early puberty.  

“This study is one of the first to connect modern dietary habits — specifically sweetener intake — with both genetic factors and early puberty development in a large, real-world cohort,” researcher Yang-Ching Chen, M.D., Ph.D., said in a news release. 

“It also highlights gender differences in how sweeteners affect boys and girls, adding an important layer to our understanding of individualized health risks.” 

The study

The researchers analyzed data from the Taiwan Pubertal Longitudinal Study (TPLS), which began in 2018 and included 1,407 teen participants. Here’s how they researched it:

• Sweetener intake was tracked via validated survey questionnaires and urine biomarkers, allowing an objective estimate of actual consumption. This study looked specifically at sucralose, aspartame, glycyrrhizin, and added traditional sugar.

• Genetic predisposition was quantified using a polygenic risk score derived from 19 genes related to central precocious puberty. Central precocious puberty can lead to emotional distress, shorter adult height, and increased risk of future metabolic and reproductive disorders.

• Early puberty diagnosis involved medical exams, hormone level tests, and imaging scans that confirmed central precocious puberty in 481 adolescents.
  

Information on gender-specific effects was also gathered, revealing distinct patterns in how boys and girls were affected by different sweeteners. 

The results

Here’s a breakdown of what the study uncovered:

• Dose‑dependent risk: The study found that higher intake of any sweetener – not just one type – was associated with an increased likelihood of early puberty among boys and girls in the study.

• Gender‑specific associations:

  • Among boys, sucralose showed the clearest risk link for early puberty.

  • Among girls, glycyrrhizin, sucralose, and added sugars were associated with a higher risk of early puberty.

• Independent contributions: Both sweetener consumption and genetic predisposition increased the kids’ risk of early puberty — though they appeared to act independently, without interacting to amplify each other.
  

“This suggests that what children eat and drink, especially products with sweeteners, may have a surprising and powerful impact on their development,” Dr. Chen said.

“The findings are directly relevant to families, pediatricians, and public health authorities. They suggest that screening for genetic risk and moderating sweetener intake could help prevent early puberty and its long-term health consequences. This could lead to new dietary guidelines or risk assessment tools for children, supporting healthier development.”

• The Senate Banking Committee unanimously approved the ROAD to Housing Act, a bipartisan effort to increase housing supply and reduce regulatory hurdles.

• The bill includes provisions to streamline environmental reviews, promote construction in Opportunity Zones, and expand financial counseling programs.

• The American Bankers Association voiced strong support, highlighting measures that would boost affordable housing investments and improve access to small-dollar mortgages.

In a rare show of bipartisan unity, the Senate Banking Committee voted unanimously to advance the ROAD to Housing Act, a major housing reform package aimed at increasing the nation’s housing supply crisis. 

Supported by Chairman Tim Scott (R-S.C.) and Ranking Member Elizabeth Warren (D-Mass.), the legislation blends proposals from both sides of the aisle to address housing affordability through deregulation, expanded investment incentives, and community-level support.

The bill would reward communities that actively build new housing, reduce barriers to development such as lengthy environmental reviews, and rethink federal rules that stifle lending for smaller mortgages. It also includes tenant protections and programs to expand access to financial literacy and housing counseling.

“For far too long, Congress believed this problem was too big to solve,” Scott said. “Today, we’re taking not a step – but we’re taking a leap in the right direction in a bipartisan fashion.”

Housing shortage

Since the housing market crash in 2009, home building has not kept up with housing demand, leading to a shortage and higher prices. Rock-bottom mortgage rates during the pandemic pushed home prices even higher. Now that rate have returned to normal, millions of people are priced out of the housing market.

By combining deregulatory reforms with expanded public support mechanisms, the bill attempts to strike a balance between supply-side growth and consumer protection.

The American Bankers Association has endorsed key provisions of the bill, including a provision enabling banks to channel more funding into affordable housing and community development projects. 

The measure now goes to the full Senate where, with bipartisan support, approval is expected.

• The Conference Board Consumer Confidence Index® increased to 97.2 in July, up from a revised 95.2 in June.

• The Present Situation Index declined slightly to 131.5, reflecting continued concerns about current job conditions.

• The Expectations Index rose to 74.4, but remained below the recession-indicative threshold of 80 for a sixth straight month.

Consumer confidence edged up in July, signaling cautious optimism about the short-term economic outlook, even though there are lingering concerns about the labor market and inflation. 

According to The Conference Board’s latest release, the Consumer Confidence Index rose by 2.0 points to reach 97.2 (1985=100), reflecting improved expectations across most age and income groups.

"Consumer confidence has stabilized since May, rebounding from April's plunge," said Stephanie Guichard, senior economist at The Conference Board. “Though optimism remains below last year's highs, July’s improvement suggests consumers are regaining some confidence in future conditions, particularly regarding business prospects, employment, and personal income.”

Recession worries persist

Despite a small lift in overall confidence, consumer perceptions of current economic conditions were mixed. The Present Situation Index dropped slightly to 131.5, driven largely by weakening sentiment around job availability. 

While more consumers (30.2%) said jobs were "plentiful" in July compared to June (29.4%), a growing share – 18.9% – reported jobs were "hard to get," the highest percentage since March 2021. This figure is up significantly from 14.5% in January.

At the same time, the Expectations Index rose 4.5 points to 74.4, a sign that consumers are growing less pessimistic about the coming months. Even so, the index has remained under the 80-point mark, historically associated with recession risks, for half a year, indicating continued economic uncertainty.

Inflation concerns

Write-in survey responses revealed that consumers remain concerned about inflation, tariffs, and recent legislative developments. Despite a slight drop in 12-month inflation expectations, concerns over rising prices persisted. Tariffs were a top concern, especially in terms of their potential to drive costs higher.

Some respondents referenced the recent budget reconciliation bill passed by Congress, dubbed the “Big Beautiful Bill,” with opinions divided: some praised its economic potential while others voiced skepticism. However, the legislation did not dominate consumer concerns in July.

Consumer spending intentions painted a mixed picture. Plans to purchase cars and homes declined in July, though they remained relatively stable when viewed on a six-month average basis. Big-ticket items like appliances saw uneven demand, while interest in electronics crept upward.

In services, spending intentions weakened for the second month in a row, with dining out, travel, and lodging all seeing declines. Domestic vacation plans fell overall, while a slightly larger share of consumers expressed interest in traveling abroad.

• P&G will raise prices on roughly 25% of its U.S. product portfolio starting in August.

• The increases, averaging mid-single digits (~2–3%), are designed to offset about $1 billion in new tariff-driven costs in fiscal 2026.

• While quarterly earnings beat expectations, the company revised its full-year forecast downward and announced cost-cutting and leadership changes.

Consumers may begin to feel more of the effects of tariffs in the coming weeks. Procter & Gamble, a major manufacturer of household products, has confirmed it will impose price increases on approximately one‑quarter of its U.S. product lineup beginning next month, in response to steep new tariffs impacting its supply chain. 

The company said recent duties on imports from China, Canada and other countries are expected to cost about $1 billion before taxes in fiscal 2026, prompting the decision to adjust consumer prices accordingly.

P&G’s chief financial officer, Andre Schulten, described average increases in the mid-single-digit range for affected SKUs, emphasizing that pricing will vary by category and retailer partnership. The company has already shared these plans with major clients like Walmart and Target.

Sticker shock

For households and small businesses relying on staples like Tide, Pampers, Crest, Bounty, and other P&G brands, sticker shock could emerge at checkout starting in August. While the overall rise may seem modest, concentrated increases on frequently purchased items could strain budgets. 

Meanwhile, retailers and analysts expect consumers to explore cheaper alternatives or delay purchases to manage expenses.

P&G manufactures nearly 90% of its products in the U.S., so that isn’t the problem. The tariff pain mainly stems from imported raw materials and packaging, predominantly sourced from China.