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Dear ,
I hope you and your family are doing well! I wanted to provide a few updates on my work this past week for the residents of Arizona’s First Congressional District.
Arizona Veterans, Apply Now to Receive PACT Act Benefits
Arizona veterans, if you served in the military between November 11, 1998 and October 1, 2013, you may be eligible for enhanced benefits thanks to the PACT Act. While there is no deadline to apply for PACT Act-related benefits, if you apply for benefits or submit an "Intent to File" by August 9, you will receive benefits backdated to August 2022 — that's right, an extra year's worth of benefits. You don't want to miss out on this opportunity!
To learn more about benefits, visit VA.gov/PACT or call 1-800-MYVA411. Additionally, please don't hesitate to contact my office if you or someone you know needs assistance with veterans' benefits. Visit the Veterans page on my website for more information on how we can be helpful.
Schweikert Trivia: Interest Rates
Newsletter subscribers, here's a bit of trivia regarding interest rates for you this week. Keep scrolling to see the answer revealed at the bottom of this newsletter!
Question: How sensitive is the United States now to interest changes? Find out below!
Fitch Downgrades U.S. Credit Rating
Last week, Fitch Ratings became the second credit rating agency in U.S. history to downgrade the nation's credit rating. This decision is yet another sign that incessant and irresponsible borrowing to fund bigger government is not without real repercussions.
I’ve been outspoken in my belief that we need to get America’s fiscal house in order before it’s too late. Fitch’s downgrade should be seen as exactly what it is — a warning that continuing down the path of out-of-control borrowing will and does have serious consequences.
Welcoming Students Back to School
As summer winds down, I want to extend my best wishes to all the students, teachers, faculty, and staff who are getting ready for the start of another exciting school year. Several schools across Arizona's First Congressional District begin classes this week, and before we know it, the 2023-24 school year will be in full swing. Stay tuned for upcoming high school student opportunities, such as the Congressional App Challenge, Academy Nominations and Congressional Art Competition.
Fall Internship Deadline Extended
Interested in interning in either my Washington, D.C. or Scottsdale offices this fall? Good news! The deadline to apply has been extended to August 19th. Strong ties to Arizona's First Congressional District or the state of Arizona are preferred, but not required. Priority is given to current college students, but recent high school graduates with exceptional credentials may be considered. Additional details on the application process can be found on my website here.
Schweikert Trivia: Answer Revealed
How sensitive is the United States now to interest changes? Glad you asked!
Answer: An increase in interest rates relative to the Congressional Budget Office's 2023 baseline of 1 basis point (0.01%) through 2024 would increase the 2024 deficit by $1.4 billion — proving just how costly even small changes in interest rates can become for the federal government.
What I’m Reading & Why It Matters
This week, I'm reading this article in TechGoing which reported that Apple has obtained an AirPods-related design patent, which can monitor electroencephalogram (EEG), electromyography (EMG), electrooculogram (EOG), and other biological signals. I'm also perusing this story in Singularity Hub on how a single-shot gene therapy using gene editing tools to reprogram faulty blood cells inside the bone marrow to potentially cure debilitating genetic blood disorders like sickle cell disease.
Thank you for taking the time to read this update on my latest work in Washington, D.C. and Arizona’s First Congressional District! If you have any comments or concerns, I encourage you to reach out to my office.
Sincerely,
David Schweikert |