Happy Wednesday! It's hard to believe that we are already kicking off the month of September, but here we are! In this week's Big I Buzz, we are discussing how some millennials are changing careers, the new budget resolution passed last week and how bears are becoming a threat in fight against the Minnesota wildfire. 

These Millennials Are Dumping Their Jobs to Plot New Careers

According to The Wall Street Journal, some young professionals are choosing to quit the job post-pandemic without a Plan B. "U.S. workers are quitting their jobs at some of the highest rates in years, a sign of great appetite for change and confidence in better prospects down the line. The share of people leaving jobs reached 2.7% in June, according to the Labor Department, just shy of April's 2.8% rate, the highest level since the government began tracking quit rates two decades ago. 

Now is a great time to train the right employee who's looking for a switch into the insurance industry. The IIAW has options for employee training through New Level Partners platform, My Agency Campus. My Agency Campus is a great hub for employee training ranging from insurance basics, specific job roles ore even specific business skills. My Agency Campus is an easy-to-access learning tool with training bundles tailored by job role and experience. You can browse the course offerings and help new hires achieve their professional development goals here: https://www.iiaw.com/page/EmployeeTraining. 

House Democrats Pass $3.5 Trillion Budget Resolution

Last week, U.S. House of Representatives Democrats passed a $3.5 trillion budget resolution that unlocks the process known as "reconciliation". While previously passed in the Senate, it did not receive a single Republican vote in either chamber. According to Independent Agent Magazine, "Reconciliation allows the majority party in the Senate to use spending or revenue bills to expedite consideration of certain tax, budget and spending-related legislation. While limited in use, budget reconciliation measures in the Senate require a majority vote and not the normal 60-vote threshold to overcome a filibuster and pass legislations." 

The reconciliation outlined the spending priorities, it did not outline how it will pay for the spending. "Based on the contours of the budget resolution, the reconciliation package could include up to $1.7 trillion in tax increases... Importantly for agencies that file taxes as a C corporation, which is roughly one-third of Big "I" members, President Biden has suggested raising the corporate tax rate from 21% to 28%. For the two-thirds of Big "I" members organized as pass-through entities, President Biden's proposals earlier this year did not call for any changes to the 20% tax deduction for small businesses that was created in former President Donald Trump's Tax Cuts and Jobs Act. " Read more here. 

Bears Emerge as Threat in Fight Against Minnesota Wildfire

As officials are working to stop the spread of the wildfires in northeaster Minnesota, bears are creating a new threat. Generous donations of food and supplies have out-stripped the need and storage ability. Because the storage space has been filled with donations, extras are needing to be stored out in the open, making them an attractant to bears. While blackbears common in northern Minnesota rarely attack people, food can cause conflicts with the bears. So far, the fire has destroyed 14 "primary structures" - mostly homes and cabins - and 57 outbuildings in a major run last week. it stood at 14% contained as of August 30th with a projected containment date of September 10th. 

Despite the damage, Superior National Forest officials are appreciative of the donations, however, they do not need any more. For those that would like to continue to donate, officials suggest donations to local food banks and fire departments instead. According to Insurance Journal, "The Forest Service also reported no growth thanks to the rain on two other, smaller wildfires of concern, the John Ek and Whelp fires, which are inside the Boundary Waters Canoe Area Wilderness. Crews have just begun efforts to fight those fires on the ground because they're deep in the wilderness in hard-to-reach places. Fears that the two fires could expand while firefighting resources have already been stretched thin by the Greenwood Lake fire and severe drought conditions led the Forest Service Aug. 21 to entirely close the Boundary Waters through at least Sept. 4." Learn more here.

For more news, check out the Action news section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list. We hope that everyone has a great rest of their week!