The Senate has unveiled its version of the One Big Beautiful Bill Act, proposing a temporary $6,000 tax deduction for seniors aged 65 and older—an increase from the $4,000 deduction passed by the House.
Jun 19, 2025
The Social Security retirement trust fund may run out of money by 2033, according to the annual report released Wednesday by the Social Security Board of Trustees. At that point, only 77% of scheduled retirement benefits would be payable.
Jun 19, 2025
Senate Republicans on Monday unveiled a sweeping multitrillion-dollar tax proposal that includes a provision to allow taxpayers to deduct auto loan interest from their taxable income — but only for new vehicles.
Jun 18, 2025
A sweeping Republican proposal to reform the federal student loan system has sparked alarm among consumer advocates, who warn that the plan would significantly increase repayment burdens and prolong debt for millions of borrowers.
Jun 18, 2025
Consumers who repeatedly max out and repay credit cards to increase spending power may face account closures and credit score damage, analysts caution.
Jun 17, 2025
Admission prices at museums, zoos, and aquariums increasingly vary by day, time, and demand. A trip to the zoo this summer might cost $47 — or something quite different tomorrow.
Jun 17, 2025
A Senate Republican proposal to overhaul student loan repayment could lead to a dramatic increase in borrower defaults, according to higher education advocates.
Jun 16, 2025
Consumers may see continued strain on borrowing costs as Fed resists calls for rate cut. The Federal Reserve is widely anticipated to leave its benchmark short-term interest rate unchanged this week, despite increasing political pressure and persistent economic concerns.
Jun 16, 2025
The House-passed reconciliation package known as the One Big Beautiful Bill Act proposes sweeping changes to family financial support, but analysis shows low-income families and children could face significant losses.
Jun 13, 2025
Despite being workers’ top summer perk, summer Fridays are on the decline amid a shift to hybrid work models, according to workplace experts and new research.
Jun 13, 2025
A new analysis by rental market research firm Point2Homes reveals that between 2018 and 2023, rentership increased by at least five percentage points in 11 of the 20 largest suburban regions surrounding major U.S. metro areas.
Jun 12, 2025
The U.S. Department of Education had planned for the Treasury Department to assist in managing the nation’s $1.6 trillion federal student loan portfolio, according to court documents filed Tuesday.
Jun 12, 2025
A provision in the House-passed “One Big Beautiful Bill Act,” backed by former President Donald Trump, could impose new hurdles for Americans claiming the Earned Income Tax Credit (EITC), a key benefit for low-income workers.
Jun 11, 2025
A Republican-led tax and spending proposal featuring a $1,000 federally funded baby bonus through new “Trump Accounts” is advancing in Congress, drawing both praise and skepticism from policy and financial experts.
Jun 11, 2025
The U.S. Supreme Court on June 6 allowed the Department of Government Efficiency (DOGE) to access personal data from the Social Security Administration (SSA), affecting millions of Americans, as part of an ongoing legal battle over privacy and government oversight.
Jun 10, 2025
A mounting legal and political battle between Harvard University and the Trump administration over international student enrollment could have sweeping economic consequences for the Greater Boston area, according to a new analysis.
Jun 10, 2025
Hiring stalls despite stable layoff levels, making job search difficult for graduates and experienced workers alike. The U.S. job market is proving challenging for job seekers, particularly recent college graduates, as employers reduce hiring at a pace not seen in over a decade.
Jun 09, 2025
Errors in student loan servicing raise concerns as balances grow under SAVE plan protections. Despite federal assurances of interest-free relief, some borrowers enrolled in the Saving on a Valuable Education (SAVE) plan are reporting unexpected increases in their student loan balances.
Jun 09, 2025
As new U.S. tariff policies take effect, cybersecurity experts are warning that scammers are exploiting the confusion to launch fraudulent schemes targeting consumers.
May 30, 2025
Trade schools and vocational programs may benefit from a growing clash between the White House and Harvard University, as President Donald Trump signals a push to divert federal funds toward alternative education pathways.
May 30, 2025
The Trump administration on May 28 rescinded guidance issued under President Biden that urged caution around adding cryptocurrency and digital assets to 401(k) retirement plans, easing the path for employers to offer such investments.
May 29, 2025
House Republicans have introduced a sweeping budget proposal that would permanently extend and expand a key tax deduction for millions of small business owners, freelancers, and gig economy workers.
May 29, 2025
International tourist spending in the United States is projected to fall by $8.5 billion in 2025, marking a 5% decline from the previous year, according to a recent report by Oxford Economics.
May 28, 2025
Packed with graduation celebrations, prom expenses, end-of-year school events, and summer camp payments, “Maycember,” a blend of May and December, mirrors the financial intensity of the holiday season.
May 28, 2025
The House of Representatives has passed a budget bill that includes unprecedented cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP), potentially reducing or eliminating benefits for millions of low-income Americans.
May 27, 2025
House Republicans have advanced a sweeping multitrillion-dollar tax and spending package that could significantly reshape federal tax policy, social safety net programs, and student loan rules if enacted.
May 27, 2025
As college tuition payments loom, financial experts are urging families to carefully plan withdrawals from their 529 savings accounts, especially in light of recent market volatility.
May 26, 2025
Newly minted homeowners may have an opportunity to cut long-term housing costs by reviewing the accuracy of their property tax assessments, according to real estate experts.
May 26, 2025
Recent college graduates are entering a job market marked by rising unemployment, fewer openings, and heightened competition, according to recent data and labor market experts.
May 16, 2025
The U.S. economy remains in a “strong position” according to the Federal Reserve, but risks of stagflation—marked by high inflation, rising unemployment, and slowed growth—are mounting, officials and analysts warn.
May 15, 2025
Democratic Senator Raphael Warnock is raising concerns over proposed Medicaid work requirements, warning they could strip health-care coverage from millions of Americans.
May 14, 2025
The Federal Trade Commission (FTC) has issued a new rule requiring ticket sellers to display total prices — including all mandatory fees — upfront, a move experts say increases transparency but is unlikely to reduce overall costs for consumers.
May 13, 2025
House Republicans have officially launched debate over a sweeping tax package aligned with former President Donald Trump’s priorities, with key discussions centering on the state and local tax (SALT) deduction cap and expansion of the child tax credit.
May 13, 2025
A technical glitch at Fidelity Investments prevented thousands of customers from accessing their accounts on May 12 as U.S. markets surged following news of temporary tariff cuts between the U.S. and China.
May 12, 2025
The average effective tariff rate on U.S. imports stands at 17.8%, the highest since 1934, despite recent trade agreements with China and the United Kingdom, according to a report released on May 12 by the Yale Budget Lab.
May 12, 2025
The traditional 60/40 investment portfolio — long considered the standard for balanced asset allocation — may no longer provide adequate diversification, according to BlackRock CEO Larry Fink.
May 09, 2025
Amid rising economic pressures and renewed inflation concerns, a growing number of Americans are turning to social media-driven savings strategies such as “no buy,” “low buy,” and “slow buy” to manage their finances.
May 09, 2025
As tariff-related uncertainty fuels stock market swings, financial experts are recommending a time-tested strategy to help protect retirees' savings: the bond ladder.
May 08, 2025
Despite a resilient job market, Americans seeking new employment are finding fewer opportunities, economists say, as hiring slows to its lowest rate in over a decade.
May 08, 2025
The Internal Revenue Service (IRS) has lost nearly one-third of its tax auditors as part of staffing reductions linked to the Department of Government Efficiency (DOGE), according to a new Treasury watchdog report released May 2.
May 07, 2025
Amid renewed concerns over inflation linked to former President Donald Trump’s tariff policies, financial advisors report a growing interest in Series I bonds, which currently offer a 3.98% annual return through October 31.
May 07, 2025
On Tuesday, the Senate confirmed Frank Bisignano as the new commissioner of the Social Security Administration (SSA), finalizing a key appointment under the Trump administration's Department of Government Efficiency (DOGE).
May 06, 2025
The Trump administration will begin garnishing the wages of 5.3 million federal student loan borrowers in default later this summer, marking a significant escalation in collection efforts after a five-year pause.
May 06, 2025
The Social Security Administration (SSA) has reduced its default benefit clawback rate from 100% to 50% for certain recipients, following criticism of the financial hardship the full withholding imposed. Experts warn the revised policy may still have severe consequences for vulnerable beneficiaries.
May 05, 2025
The Social Security Administration (SSA) plans to roll out digital access to Social Security numbers as early as this summer, offering an alternative to the traditional paper Social Security card.
May 05, 2025
A major 401(k) update for 2025 will allow eligible workers aged 60 to 63 to make significantly larger “catch-up” contributions, raising the total annual deferral limit to $34,750.
May 02, 2025
The IRS has announced higher contribution limits for health savings accounts (HSAs) for 2026, increasing thresholds for both individual and family coverage as part of its annual inflation adjustments.
May 02, 2025
Millions of older workers were displaced during the early months of the COVID-19 pandemic, but five years later, changing workplace dynamics are creating new opportunities for career longevity.
May 01, 2025
Investors reaping profits from gold’s recent rally may face an unexpected tax surprise, as popular gold exchange-traded funds (ETFs) are subject to a higher federal tax rate on long-term capital gains.
May 01, 2025
Despite rising concerns over the future of Social Security, financial experts continue to advise most Americans to wait before claiming retirement benefits, citing the long-term advantages of delaying.
Apr 30, 2025