WEBVTT NOTE This file was generated by Descript 00:00:00.050 --> 00:00:07.269 Lawrence: Welcome to The FED Weekly for 17 - 23 August 2025, your essential 00:00:07.269 --> 00:00:11.250 weekly briefing on the policies and proposals shaping your career, 00:00:11.619 --> 00:00:13.640 your benefits, and your retirement. 00:00:14.180 --> 00:00:18.120 Whether you’re a current federal employee navigating changes in the civil service, 00:00:18.420 --> 00:00:22.969 or a retiree keeping a close watch on your hard-earned pension and healthcare, this 00:00:22.969 --> 00:00:27.399 is your source for the latest news from Capitol Hill and the executive branch. 00:00:28.115 --> 00:00:31.885 Each week, we cut through the noise to bring you the critical updates on budget 00:00:31.885 --> 00:00:37.315 negotiations, pay raises, workforce policies, and the legislative battles that 00:00:37.315 --> 00:00:39.716 directly impact the federal community. 00:00:40.055 --> 00:00:43.586 Let's get you up to speed on what happened this past week. 00:00:44.431 --> 00:00:48.571 Section 1: Issues That Affect Current and Retired Federal Workers 00:00:49.142 --> 00:00:53.002 The Looming 2026 Pay Freeze and Eroding Compensation 00:00:53.615 --> 00:00:56.956 The financial outlook for federal employees has become starkly 00:00:56.956 --> 00:01:01.895 clear this week, as all signs now point to a pay freeze for 2026. 00:01:02.536 --> 00:01:07.496 President Trump has until August 31 to issue an alternative pay plan, a 00:01:07.496 --> 00:01:11.826 formal step required to prevent large, automatic locality pay increases 00:01:12.086 --> 00:01:16.416 mandated under the 1990 Federal Employees Pay Comparability Act. 00:01:16.875 --> 00:01:20.676 While this is an annual procedural deadline, this year it serves as 00:01:20.676 --> 00:01:25.026 the final confirmation of a policy that has been signaled for months. 00:01:25.710 --> 00:01:29.610 The administration’s intentions were first revealed in April through 00:01:29.610 --> 00:01:34.080 Office of Management and Budget "passback" documents, which instructed 00:01:34.109 --> 00:01:36.540 agencies to plan for a pay freeze. 00:01:37.139 --> 00:01:39.809 This was later formalized in the President's budget 00:01:39.809 --> 00:01:42.569 proposal for Fiscal Year 2026. 00:01:43.170 --> 00:01:47.219 With congressional appropriators declining to include a pay raise in their funding 00:01:47.219 --> 00:01:52.160 bills, the President’s forthcoming alternative pay plan is expected 00:01:52.160 --> 00:01:54.379 to be the final word on the matter. 00:01:54.430 --> 00:01:58.549 This stands in sharp contrast to proposals from federal employee advocates. 00:01:58.889 --> 00:02:04.189 The Federal Adjustment of Income Rates, or FAIR Act, had called for an average 4.3% 00:02:04.189 --> 00:02:07.779 raise, while the Federal Salary Council, a body that advises the 00:02:07.779 --> 00:02:10.990 White House on pay, recommended a 3.3% 00:02:10.990 --> 00:02:12.930 increase based on economic data. 00:02:13.479 --> 00:02:17.389 For context, the pay raise for 2025 was a 2.0% 00:02:17.389 --> 00:02:18.349 average increase. 00:02:18.975 --> 00:02:23.325 However, viewing the pay freeze as an isolated event misses the larger picture. 00:02:23.905 --> 00:02:27.536 It is the primary component of a financial perfect storm bearing down 00:02:27.536 --> 00:02:29.265 on the entire federal community. 00:02:29.866 --> 00:02:33.146 A current employee’s gross income is now set to stagnate. 00:02:33.656 --> 00:02:36.495 At the same time, their single largest benefit cost—health 00:02:36.755 --> 00:02:41.306 insurance—is about to increase dramatically, as we will discuss next. 00:02:41.386 --> 00:02:46.065 The combination of frozen income and sharply rising mandatory costs results in 00:02:46.065 --> 00:02:48.356 a guaranteed reduction in take-home pay. 00:02:48.966 --> 00:02:53.165 This is not merely a freeze; for many, it will feel like a functional pay cut. 00:02:53.895 --> 00:02:56.406 The situation is parallel for retirees. 00:02:56.776 --> 00:03:00.755 The modest cost-of-living adjustment projected for next year will be largely, 00:03:00.755 --> 00:03:05.415 if not entirely, consumed by the same health premium hike and other rising 00:03:05.415 --> 00:03:08.016 costs, such as for Medicare Part B. 00:03:08.066 --> 00:03:12.316 These concurrent policy decisions on pay and benefits are creating a 00:03:12.345 --> 00:03:17.665 multi-pronged financial squeeze that will undoubtedly impact morale, recruitment, 00:03:17.746 --> 00:03:19.566 and retention across the government. 00:03:20.182 --> 00:03:22.782 A Major Overhaul of Federal Health Benefits 00:03:23.370 --> 00:03:27.179 This week also brought two shocking developments for the Federal Employees 00:03:27.179 --> 00:03:32.769 Health Benefits, or FEHB, program: a politically charged reduction in coverage 00:03:33.000 --> 00:03:35.479 and a historically large premium increase. 00:03:36.065 --> 00:03:41.086 On August 20, 2025, the Office of Personnel Management formally 00:03:41.086 --> 00:03:45.235 notified insurance carriers that coverage for gender-affirming care 00:03:45.235 --> 00:03:50.225 will be eliminated from all FEHB plans starting in plan year 2026. 00:03:51.296 --> 00:03:55.556 The directive states that "chemical and surgical modification of an individual’s 00:03:55.556 --> 00:04:00.165 sex traits through medical interventions" will no longer be a covered benefit. 00:04:00.195 --> 00:04:04.126 This policy change is a direct result of two executive orders issued by 00:04:04.126 --> 00:04:08.705 President Trump: “Defending Women from Gender Ideology Extremism and 00:04:08.705 --> 00:04:13.225 Restoring Biological Truth to the Federal Government” and “Protecting Children 00:04:13.256 --> 00:04:15.776 from Chemical and Surgical Mutilation”. 00:04:16.474 --> 00:04:20.864 While the ban is sweeping, OPM has outlined several key exceptions. 00:04:21.393 --> 00:04:24.594 Coverage will remain for mental health counseling for individuals 00:04:24.594 --> 00:04:28.283 with gender dysphoria, for patients who are already undergoing a 00:04:28.283 --> 00:04:32.304 course of surgical or hormonal treatment, and for hormone therapies 00:04:32.304 --> 00:04:36.303 prescribed for non-gender-related medical conditions, such as cancer. 00:04:36.954 --> 00:04:41.753 The advocacy group Lambda Legal immediately condemned the move as illegal, 00:04:41.784 --> 00:04:46.124 arguing it violates Title VII of the Civil Rights Act and the Affordable 00:04:46.124 --> 00:04:51.164 Care Act, and announced it is exploring legal action to challenge the policy. 00:04:51.859 --> 00:04:55.500 This development creates an environment of extreme uncertainty. 00:04:55.930 --> 00:04:59.580 Earlier this year, OPM had issued guidance that eliminated this care 00:04:59.580 --> 00:05:03.880 for minors but explicitly preserved the option for insurance carriers 00:05:03.880 --> 00:05:05.849 to continue offering it to adults. 00:05:06.540 --> 00:05:09.740 This week’s announcement is a complete reversal, removing all 00:05:09.740 --> 00:05:13.910 carrier discretion and banning coverage for enrollees of any age. 00:05:14.600 --> 00:05:19.279 This kind of rapid, ideologically driven reversal of benefits policy creates 00:05:19.279 --> 00:05:21.830 chaos for both consumers and providers. 00:05:22.180 --> 00:05:26.840 It signals that benefits once considered stable can be eliminated with little 00:05:26.840 --> 00:05:31.079 warning, undermining the perceived value of the federal benefits package. 00:05:31.695 --> 00:05:35.356 This reduction in coverage comes just as federal employees and retirees 00:05:35.356 --> 00:05:38.496 are being asked to pay significantly more for their health insurance. 00:05:38.996 --> 00:05:44.395 OPM has confirmed that FEHB premiums will rise by an average of 13.5% 00:05:44.475 --> 00:05:49.705 for the 2025 plan year, the largest such increase in nearly two decades. 00:05:49.996 --> 00:05:53.916 This sharp hike follows substantial increases of 7.7% 00:05:53.916 --> 00:05:56.705 in 2024 and 8.7% 00:05:56.805 --> 00:05:57.916 in 2023. 00:05:57.985 --> 00:06:02.746 OPM attributes the increase to several market-wide factors, including price 00:06:02.746 --> 00:06:06.935 increases by healthcare providers, higher utilization of expensive 00:06:06.935 --> 00:06:10.775 specialty prescription drugs, and increased spending on outpatient 00:06:10.775 --> 00:06:12.786 services and behavioral health care. 00:06:13.396 --> 00:06:18.115 A significant new cost driver is the mandated coverage of GLP-1 anti-obesity 00:06:18.115 --> 00:06:20.115 drugs like Ozempic and Wegovy. 00:06:20.676 --> 00:06:25.286 While the government's share of the premium will also rise, by 10.01%, 00:06:25.345 --> 00:06:29.106 employees and retirees will be left to cover the remainder 00:06:29.106 --> 00:06:30.486 of this steep increase. 00:06:31.150 --> 00:06:34.040 Tax Changes from the "One, Big, Beautiful Bill Act" 00:06:34.626 --> 00:06:38.165 Amid these financial pressures, some modest relief is coming 00:06:38.165 --> 00:06:39.916 in the form of tax changes. 00:06:40.565 --> 00:06:45.985 Public Law 119-21, the "One, Big, Beautiful Bill Act," which was signed 00:06:45.985 --> 00:06:50.725 into law on July 4, 2025, introduced several new tax deductions that will 00:06:50.725 --> 00:06:53.346 take effect for the 2025 tax year. 00:06:53.931 --> 00:06:57.862 For current federal workers, the law creates a new deduction for qualified 00:06:57.862 --> 00:07:03.322 overtime compensation, allowing them to deduct up to $12,500 of pay 00:07:03.662 --> 00:07:05.242 that exceeds their regular rate. 00:07:05.852 --> 00:07:10.111 It also provides a deduction of up to $25,000 for qualified tips 00:07:10.111 --> 00:07:13.361 reported on a W-2 or 1099 form. 00:07:13.951 --> 00:07:18.601 For retirees, the law introduces a new, additional deduction of $6,000 00:07:18.601 --> 00:07:20.832 for individuals aged 65 and older. 00:07:21.281 --> 00:07:25.131 This is a significant benefit, as it can be claimed on top of the existing 00:07:25.131 --> 00:07:27.452 additional standard deduction for seniors. 00:07:28.202 --> 00:07:32.382 It is important to note, however, that these are deductions that reduce taxable 00:07:32.382 --> 00:07:35.191 income, not dollar-for-dollar tax credits. 00:07:35.882 --> 00:07:40.272 While helpful, their actual value will not be enough to fully offset 00:07:40.272 --> 00:07:44.191 the impacts of a pay freeze or a double-digit health premium increase. 00:07:44.838 --> 00:07:48.898 OPM Cancels the 2025 Federal Employee Viewpoint Survey 00:07:49.507 --> 00:07:54.167 In a move that has drawn sharp criticism from good government groups, the Office 00:07:54.167 --> 00:07:58.907 of Personnel Management officially announced on August 20, 2025, that 00:07:58.907 --> 00:08:04.978 it is canceling the Federal Employee Viewpoint Survey, or FEVS, for 2025. 00:08:05.617 --> 00:08:09.498 The survey, which is considered the flagship measure of job satisfaction 00:08:09.498 --> 00:08:13.297 and morale across the federal workforce, is expected to return 00:08:13.297 --> 00:08:16.597 in 2026 with retooled questions. 00:08:17.186 --> 00:08:20.616 In a statement, OPM Director Scott Kupor explained that the 00:08:20.616 --> 00:08:25.325 agency is "revising FEVS to remove questions added by the Biden-Harris 00:08:25.325 --> 00:08:30.226 administration and to refocus on core administration priorities: to restore 00:08:30.226 --> 00:08:34.236 a high-performance, high-efficiency, and merit-based civil service". 00:08:34.965 --> 00:08:39.066 The move is seen as part of an effort to "recalibrate" the survey to align 00:08:39.066 --> 00:08:43.595 with the administration's objectives, particularly by removing questions related 00:08:43.595 --> 00:08:46.176 to Diversity, Equity, and Inclusion. 00:08:46.873 --> 00:08:51.383 This decision is highly controversial because federal law requires agencies 00:08:51.383 --> 00:08:53.914 to conduct an annual employee survey. 00:08:54.733 --> 00:08:58.944 The FEVS is the primary instrument used to fulfill this mandate, providing 00:08:58.944 --> 00:09:02.713 critical data to agency leaders, Congress, and watchdog groups. 00:09:03.434 --> 00:09:06.233 The timing of the cancellation is particularly notable. 00:09:06.643 --> 00:09:10.204 The administration is currently implementing a series of sweeping and 00:09:10.204 --> 00:09:15.274 disruptive workforce policies, including the pay freeze, benefit cuts, and a 00:09:15.274 --> 00:09:17.784 government-wide push to reduce staff. 00:09:18.864 --> 00:09:22.954 The FEVS is the only standardized mechanism for measuring the impact of 00:09:22.954 --> 00:09:25.253 these policies on the federal workforce. 00:09:25.913 --> 00:09:30.544 By canceling the survey at this critical juncture, the administration effectively 00:09:30.544 --> 00:09:34.193 prevents the collection of data during the most intense period of its 00:09:34.193 --> 00:09:36.123 "realignment of the federal workforce". 00:09:36.814 --> 00:09:42.193 Critics argue this is a strategic move to create an information vacuum, allowing the 00:09:42.193 --> 00:09:46.564 administration to control the narrative about its policies' effects without 00:09:46.564 --> 00:09:48.794 being contradicted by its own data. 00:09:49.434 --> 00:09:52.854 Section 2: Issues That Affect Current Federal Workers 00:09:53.451 --> 00:09:56.902 The IRS Reversal: From Mass Layoffs to Emergency Rehiring 00:09:57.538 --> 00:10:00.898 The biggest workforce story of the week is a dramatic reversal 00:10:00.898 --> 00:10:02.547 at the Internal Revenue Service. 00:10:02.957 --> 00:10:08.357 The agency announced on August 22, 2025, that it is canceling all 00:10:08.357 --> 00:10:13.238 planned layoffs and is now actively working to rehire staff to fill what 00:10:13.238 --> 00:10:15.387 it calls "mission-critical" gaps. 00:10:15.918 --> 00:10:19.428 This stunning turnaround comes after the agency shed approximately 00:10:19.428 --> 00:10:24.408 a quarter of its workforce—over 26,000 employees—since the start of 00:10:24.408 --> 00:10:29.168 the year through buyouts, firings, and voluntary separation programs. 00:10:29.742 --> 00:10:33.791 The reversal appears to be a direct response to warnings from the National 00:10:33.791 --> 00:10:38.481 Taxpayer Advocate and others that the deep staffing cuts could jeopardize 00:10:38.481 --> 00:10:41.372 the upcoming 2026 tax filing season. 00:10:42.091 --> 00:10:47.351 The agency is now using every tool at its disposal to plug the holes, including 00:10:47.351 --> 00:10:51.372 internal reassignments and rescinding deferred resignation offers made to 00:10:51.372 --> 00:10:53.202 employees who had agreed to leave. 00:10:54.001 --> 00:10:58.622 Already, about 50 employees in the now-shuttered Taxpayer Experience 00:10:58.622 --> 00:11:02.881 Office who had received layoff notices have been told their jobs are 00:11:02.881 --> 00:11:07.291 safe, and they are being reassigned to other roles within the agency. 00:11:07.946 --> 00:11:12.805 This situation is a case study in the consequences of non-strategic, politically 00:11:12.805 --> 00:11:14.805 motivated workforce reductions. 00:11:15.345 --> 00:11:18.946 The administration's "Department of Government Efficiency," or DOGE, 00:11:18.946 --> 00:11:23.486 initiative drove a top-down mandate to slash staff across the federal government, 00:11:23.826 --> 00:11:26.006 with the IRS being a prime target. 00:11:26.475 --> 00:11:30.426 However, it appears the operational reality on the ground has collided 00:11:30.426 --> 00:11:32.555 with these ideological directives. 00:11:32.676 --> 00:11:37.016 Agency leaders have now been forced to acknowledge that the cuts went too far, 00:11:37.166 --> 00:11:42.576 too fast, creating critical knowledge and capacity gaps that threaten the IRS's 00:11:42.576 --> 00:11:46.905 ability to perform its most fundamental mission: collecting the nation's taxes. 00:11:47.555 --> 00:11:51.465 This emergency course correction at the IRS may serve as a cautionary 00:11:51.465 --> 00:11:55.596 tale for other agencies facing similar reduction mandates. 00:11:56.233 --> 00:11:59.823 Probationary Periods Strengthened, Legal Challenges Falter 00:12:00.378 --> 00:12:04.887 The administration’s power to more easily remove new employees was solidified 00:12:04.887 --> 00:12:09.697 this week through actions by both OPM and the Merit Systems Protection Board. 00:12:10.338 --> 00:12:14.987 On August 18, 2025, OPM issued expanded guidance on the 00:12:14.987 --> 00:12:18.547 executive order strengthening probationary periods for new hires. 00:12:19.028 --> 00:12:23.487 The guidance reinforces the policy that these periods are to be used as an 00:12:23.487 --> 00:12:28.028 "extension of the hiring process," during which the employee bears the burden 00:12:28.028 --> 00:12:33.068 of demonstrating that their continued employment is in the public interest. 00:12:33.713 --> 00:12:38.604 Just days later, on August 21, a key legal challenge to this policy faltered. 00:12:39.124 --> 00:12:43.024 An MSPB hearing officer ruled that the board lacks jurisdiction to 00:12:43.024 --> 00:12:47.944 hear appeals from fired probationary employees who argue their terminations 00:12:47.944 --> 00:12:51.554 were "constructive" reductions in force, or RIFs, that should have 00:12:51.554 --> 00:12:53.634 followed stricter RIF procedures. 00:12:54.433 --> 00:12:58.763 Together, the OPM guidance and the MSPB ruling give agencies a clearer 00:12:58.763 --> 00:13:02.854 framework for termination while closing a potential avenue for legal appeal, 00:13:03.524 --> 00:13:08.114 leaving terminated probationary employees with fewer options for recourse. 00:13:08.773 --> 00:13:12.093 The Future Workforce: AI, Design, and Legislative Battles 00:13:12.715 --> 00:13:16.686 Finally, this week provided a glimpse into the administration's vision for the 00:13:16.686 --> 00:13:21.766 future federal workforce—one that relies more on technology and is governed by 00:13:21.766 --> 00:13:24.136 fundamentally different employment rules. 00:13:25.056 --> 00:13:29.225 On August 19, the Federal Chief Information Officer stated that the 00:13:29.225 --> 00:13:33.446 administration is "100%" looking to Artificial Intelligence to 00:13:33.446 --> 00:13:36.735 mitigate the impact of staffing losses across government. 00:13:37.346 --> 00:13:42.285 This push for technological solutions was coupled with the launch of a new "America 00:13:42.285 --> 00:13:47.346 by Design" initiative, established by an executive order on August 21. 00:13:48.006 --> 00:13:51.686 The initiative aims to improve the design and usability of government 00:13:51.686 --> 00:13:56.425 websites and services and includes a new recruiting push for top design 00:13:56.425 --> 00:13:58.086 talent from the private sector. 00:13:58.685 --> 00:14:02.236 This move follows a pattern of dismantling existing government innovation 00:14:02.236 --> 00:14:05.425 hubs, like GSA's 18F and the U.S. 00:14:05.425 --> 00:14:09.735 Digital Service, and then launching a new, similarly-focused initiative under 00:14:09.735 --> 00:14:11.705 the administration's own branding. 00:14:12.525 --> 00:14:16.656 This allows the administration to claim credit for modernizing government while 00:14:16.656 --> 00:14:21.786 simultaneously purging institutions associated with previous administrations. 00:14:22.510 --> 00:14:27.010 Meanwhile, several pieces of legislation that would fundamentally alter the federal 00:14:27.010 --> 00:14:29.170 workplace remain pending in Congress. 00:14:29.459 --> 00:14:30.190 These include: 00:14:31.602 --> 00:14:32.061 H.R. 00:14:32.061 --> 00:14:36.981 201, the Federal Employee Performance and Accountability Act, which would create a 00:14:36.981 --> 00:14:42.251 pilot program for performance-based pay that could result in a 10% pay cut for 00:14:42.251 --> 00:14:44.781 employees rated "below expectations". 00:14:45.411 --> 00:14:45.821 H.R. 00:14:45.821 --> 00:14:50.172 236, the Federal Employee Return to Work Act, which would make federal 00:14:50.172 --> 00:14:54.481 employees who telework ineligible for annual or locality pay raises. 00:14:55.103 --> 00:14:55.564 And S. 00:14:55.564 --> 00:15:01.263 1006, the Federal Workforce Freedom Act, which aims to prohibit federal employees 00:15:01.263 --> 00:15:05.584 from participating in labor unions for the purpose of collective bargaining. 00:15:06.318 --> 00:15:09.738 Section 3: Issues That Affect Retired Federal Workers 00:15:10.366 --> 00:15:13.415 2026 Cost-of-Living Adjustment Projections 00:15:14.034 --> 00:15:19.244 The latest projections for the 2026 Cost-of-Living Adjustment, or COLA, for 00:15:19.244 --> 00:15:24.524 Social Security and federal retirement annuities are now converging around 2.7%. 00:15:24.913 --> 00:15:29.113 This forecast, from groups like the Senior Citizens League, is based 00:15:29.113 --> 00:15:31.074 on inflation data through July. 00:15:31.523 --> 00:15:35.654 The final, official figure will be determined by third-quarter inflation 00:15:35.654 --> 00:15:39.974 data and announced by the Social Security Administration in October. 00:15:40.626 --> 00:15:44.236 This modest COLA will have different impacts on federal retirees 00:15:44.236 --> 00:15:45.945 depending on their retirement system. 00:15:46.655 --> 00:15:50.555 Annuitants under the older Civil Service Retirement System, or CSRS, 00:15:50.756 --> 00:15:52.636 are set to receive the full adjustment. 00:15:53.155 --> 00:15:57.246 However, retirees under the Federal Employees Retirement System, or FERS, 00:15:57.246 --> 00:16:00.135 will receive a reduced, or "diet," COLA. 00:16:00.815 --> 00:16:06.016 The FERS formula stipulates that when the official COLA is between 2% and 3%, FERS 00:16:06.016 --> 00:16:08.696 annuitants receive a flat 2% increase. 00:16:08.735 --> 00:16:14.305 This means a FERS retiree will see their annuity grow by only 2%, falling 00:16:14.305 --> 00:16:18.726 behind both the projected rate of inflation and their CSRS counterparts. 00:16:19.156 --> 00:16:22.765 This is a critical point of financial divergence between the two retirement 00:16:22.765 --> 00:16:26.796 systems that becomes more pronounced in years with moderate inflation. 00:16:27.671 --> 00:16:30.431 Financial Planning Advice for Senior Annuitants 00:16:31.066 --> 00:16:35.146 In a piece of practical advice for older annuitants, federal benefits 00:16:35.146 --> 00:16:39.995 expert Tammy Flanagan highlighted a potentially costly oversight in 00:16:39.995 --> 00:16:42.205 an article published on August 21. 00:16:42.896 --> 00:16:47.966 The advice is simple but crucial: federal retirees over the age of 70 00:16:48.116 --> 00:16:51.706 should double-check to ensure they have filed for Social Security benefits. 00:16:52.356 --> 00:16:56.755 Flanagan warns that some retirees may be "leaving thousands on the table" by 00:16:56.755 --> 00:17:00.925 forgetting to claim benefits to which they or their spouse are entitled. 00:17:01.606 --> 00:17:05.986 This can happen when retirees are focused on managing their federal annuity and 00:17:05.986 --> 00:17:10.925 Thrift Savings Plan, sometimes overlooking separate Social Security entitlements. 00:17:12.043 --> 00:17:14.974 And that’s a wrap on this week’s Federal Workforce Roundup. 00:17:15.494 --> 00:17:19.804 The landscape for federal employees and retirees is constantly shifting, 00:17:20.193 --> 00:17:25.113 with major decisions being made about everything from pay and job security 00:17:25.363 --> 00:17:29.044 to retirement benefits and the very structure of the civil service. 00:17:29.633 --> 00:17:31.794 Staying informed is your best tool. 00:17:32.184 --> 00:17:36.573 Be sure to subscribe wherever you get your podcasts, so you never miss an update. 00:17:37.373 --> 00:17:38.353 Thanks for tuning in. 00:17:38.353 --> 00:17:41.274 We’ll be back next week to track the latest developments 00:17:41.274 --> 00:17:42.563 and what they mean for you. 00:17:43.034 --> 00:17:46.274 Until then, stay engaged and be well.