Your CCCBI weekly newsletter including upcoming events, a legislative update, & more!

WHAT'S NEW AT THE CHAMBER

The CCCBI Annual Golf Classic at Applebrook Golf Club

Thank you to all who attended our Annual Golf Classic at Applebrook Golf Club this past Tuesday. The weather was perfect and everyone had a great time!

Thank you to our presenting sponsor, WSFS Bank, and all of our amazing sponsors of the event. We are grateful for your continued support of the Chamber, and your help to make yesterday's golf outing a huge success.

Congratulations to yesterday's winners! Thank you to our hole in one sponsor, John Kennedy Ford Phoenixville, for providing such a beautiful prize car.

More photos from yesterday's Golf Outing can be found here.

Chamber Tour of nth Solutions in Coatesville

Today CCCBI toured nth Solutions in Coatesville. nth Solutions is a vertically-integrated product development and manufacturing company whose design team holds more than 50 commercialized patents.

nth Solutions’s abides by the concept, Revenue-Ready™, which is to develop intellectual property and products which save money, save lives, and preserve natural resources.

We also learned about nth Solution’s extensive internship program, which immerses students in the industry with hands-on experience and skills that set them up for success in and out of the workforce.

We are looking forward to our partnership with nth Solutions, as part of the Chester County Chamber’s Youth Leadership Program, to create opportunities for Chester County high school interns, and the companies that get involved!

LEGISLATIVE UPDATE

Biden Student Debt Forgiveness Plan

The Biden administration on Wednesday announced it was canceling up to $10,000 of student debt for millions of people and up to $20,000 of debt for low- and middle-income borrowers who previously received a Pell Grant. The loan relief will be limited to borrowers who earn less than $125,000 a year or families earning less than $250,000. The pandemic-related moratorium on interest and payments, which started in March 2020 in the Trump administration and has been extended four times by Biden, is set to expire Aug. 31. the White House plans to extend the moratorium on monthly payments and interest for a “final time” through Dec. 31. Yesterday’s announcement has drawn criticism from the right that the key elements of the plans would increase inflation.

Biden’s announcement that the Education Department would cancel an unprecedented amount of student debt is likely to draw legal challenges. Many Republicans have argued the executive branch lacks the authority to provide such sweeping relief without congressional authority.

The recent passage of this Student Debt Forgiveness Plan and signing of the Inflation Reduction Act is expected to do little to curtail inflation in the next 10 years. In fact, estimates show that it may even increase inflation through spending offset through a 15% corporate minimum tax, IRS tax enforcement, and closing a loophole that benefits wealthy investors. Read more HERE

St. Louis Federal Reserve President James Bullard on Thursday said inflation is remaining more persistent and widespread than many observers predicted. He also stated the Fed should continue aggressively raising interest rates and repeated he would like to see the Fed’s benchmark rate to climb from 2.25% to 2.5% to between 3.75% and 4%. This concern and call to action was recommended by others.

There will be more details announced in the coming weeks. To be notified when the process has officially opened, sign up at the Department of Education subscription page.

More information can be found here and here.

MEMBER SPOTLIGHT

Akita Pest Control

Since 2006, Akita Pest Control has been using its company’s extensive experience, skills and services to establish itself as one of the most reliable and knowledgeable pest control companies in central PA. Through their fearless approach to getting rid of pests, Akita Pest Control has been able to consistently provide Chester County with its pest removal needs.

Akita Pest Control’s biggest focus is making sure their customer’s experience is consistent from person to person. They guarantee that they will solve your pest problems, but if the issues aren't resolved from the original service they will come back for free to re-treat the issue and fix their original solutions. They also instill a fearless approach to pest extermination and control with their cars that have wasps on top of them. The wasps are used to show that they “aren’t afraid to go against the grain” and reassure their customers that a solution will be reached with their issue.

Akita Pest Control provides services for pests as small as ants and as big as rats. Their quarterly service program is another option for pest problems that could come back after one visit from Akita Pest Control. For more information on Akita Pest Control’s service programs, click here.

Visit their website today!

The Chester County Chamber greatly appreciates Akita Pest Control's commitment to our community and for their membership and involvement with the Chamber!