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| Welcome to another Wednesday, Daily Money readers. Jayme Deerwester back with you. |
| The fallout from the reversal of Roe v. Wade continues: Georgia's revenue department has just announced that a taxpayer who "has an unborn child with a detectable human heartbeat" after July 20 can claim the embryo as a dependent on their 2022 state taxes. Each embryo will be worth a tax deduction of $3,000. |
| And if you've heard of pharmacists at Walgreens or CVS refusing to fill birth control prescriptions because they have a moral objection and wondered if that's legal, the short answer is yes. |
| "Under Title VII and under the caselaw as developed by the Supreme Court and the lower courts, there is an obligation by the employer to provide a reasonable accommodation" for bona fide religious belief," said Merrick Rossein, a professor at City University of New York School of Law. |
| The situation, Rossein said, might get more dicey in rural areas where it could be harder to find another pharmacist. And there's a fair amount of wiggle room in what "reasonable accommodation" means. But Rossein and other experts say it's more likely a question of when – not if – the Supreme Court will move the law further in favor of religious freedom and religious accommodation. |
More stories you shouldn't miss |
| Meet the new meme stock: AMTD Digital stock surged more than 100% Tuesday. |
| Rejoice, Taco Bell fans: Mexican Pizza is back to stay starting Sept. 15. |
| 'Yeezy Day' 2022: Sale on new shoes continues through Wednesday. |
| Robinhood layoffs: Investment site cuts 23% of staff as fewer people trade. |
| State tax holiday calendar: See when you can save on school supplies. |
As recession concerns grow, consider these silver linings |
| After two straight negative quarters, the economy now has entered what many observers consider recession territory. But will you suffer financially as a result? Not necessarily, as recessions help to ease inflationary pressures and other imbalances, laying the seeds for future growth. And while few people welcome economic downturns, but there are a few potential silver linings: |
| • | Job losses might not be severe. Coming off today's low jobless levels, at a time when millions of Americans don't want or need to work, we may see less than the usual amount of hand-wringing. | | • | Money will keep flowing in. Social Security and pension recipients will continue to receive their benefits and the vast majority of workers will remain employed. | | • | Prices will stabilize and possibly drop. A recession also would likely put a damper on inflation. This is, after all, the main objective of recent Federal Reserve interest-rate hikes. It may already be working: Gas prices dropped 14% over the six weeks through July 22. | | • | Asset prices will fall, then rebound. Stock prices invariably make up more ground following recessions than they lose – usually, a lot more. And they start advancing before the storm clouds lift. | |
🎧 Mood music 🎧 |
| In honor of Mexican Pizza's return, I've chosen Rhett and Link's "Fast Food Folk Song," which name-drops the dish. |
| "Mmmm, mmmm, Mexican Pizza. We'll take two of those, But please hold the diced tomatoes. And I admit, I've always felt like I'm in love with the Meximelt." |
About The Daily Money |
| Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. It even comes with its own Spotify playlist . It features nearly every song quoted here. |
| Follow Jayme Deerwester on Twitter – or Instagram, if you prefer puppy pictures. (Why? Because everybody loves puppies!) |
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