Trump’s ‘No Tax on Tips’ Deduction Raises Questions over Eligibility and Enforcement
President Donald Trump’s newly enacted tax legislation, described as the “big beautiful bill,” features a high-profile section titled “no tax on tips.”
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U.S. Consumer Hit with $1,170 Tariff Fee on Furniture Order amid Rising Import Costs
A San Francisco man was shocked when his online furniture purchase triggered a $1,170 fee upon delivery — a vivid example of how U.S. tariffs on imports are increasingly burdening consumers.
Majority of Workers Unlikely to Reach $1 Million Retirement Goal, Survey Finds
Despite expecting to need over $1 million for a comfortable retirement, only 30% of U.S. workers believe they will reach that milestone, according to a new survey by investment firm Schroders.
U.S. Travelers Face Stronger Costs Abroad Despite Cheaper Flights
American travelers heading to Europe this summer may find flight prices more affordable than in previous years, but once they land, they’re confronting significantly higher costs due to a weakened U.S. dollar and ongoing global economic uncertainties.
‘Revenge Saving’ Emerges as New Trend amid Economic Uncertainty, Survey Finds
Amid growing concerns about the economy, more Americans are redirecting their financial habits from post-pandemic splurging to intentional saving — a shift financial experts are calling “revenge saving.”
Senate GOP’s ‘One Big Beautiful Bill’ Would Cut Aid to Low Earners, Benefit the Wealthy, Yale Report Finds
A sweeping legislative package backed by Senate Republicans would reduce incomes for low-income households while increasing those of higher earners, according to a Yale Budget Lab analysis released Monday.
Debt Pressures Driving u.s. Workers to Second Jobs and Career Trade-Offs, Surveys Reveal
A growing number of American workers are making career decisions based on their debt levels, with many turning to second jobs or compromising on career preferences to manage their financial obligations, according to new survey data.
Medicaid Cuts Remain in GOP Budget Bill Despite Partial Senate Rejection
Despite a partial ruling from the Senate parliamentarian, several contentious Medicaid reforms in the Republican-backed “One Big Beautiful Bill Act” remain intact, raising concerns among policy experts about the potential impact on coverage for millions of Americans.
Majority of Women Investors Feel Financially Confident but Regret Delayed Start, Survey Finds
A recent survey conducted by Charles Schwab reveals that while 90% of women investors believe they are on track to meet their financial goals, a significant majority — 85% — regret not starting their investment journey sooner.
Trump Administration to Phase Out FEMA, Raising Concerns over Disaster Recovery Aid
The Trump administration has announced plans to begin phasing out the Federal Emergency Management Agency (FEMA) following the 2025 hurricane season, prompting concern among disaster preparedness experts over the future of federal emergency aid.
Trump-Backed Car Loan Tax Break Would Mostly Benefit Luxury Buyers, Experts Say
A proposed tax break championed by former President Donald Trump and recently passed by House Republicans could allow Americans to deduct up to $10,000 in car loan interest—but economists say few drivers would benefit substantially unless they purchase ultra-expensive vehicles.
Coming off Parents’ Cell Phone Plan Seen as Key Adulthood Milestone, Survey Finds
A majority of Americans now consider taking over one’s own cell phone bill a significant marker of adulthood, according to a new nationwide survey conducted by AT&T.
Congressional Bill Proposes First-Ever Federal Medicaid Work Requirements
A sweeping legislative proposal titled the “One Big Beautiful Bill Act” is moving through Congress with a provision that could lead to millions losing Medicaid coverage due to new work requirements.
Republican Tax Bills Target Clean Energy Incentives for Elimination by 2026
House and Senate Republicans are advancing legislation that would eliminate a wide range of consumer tax credits tied to clean energy beginning in 2026, including incentives for electric vehicles and home energy efficiency upgrades.
Nearly Half of Americans Say Six-Figure Salary Needed to Live Comfortably, Survey Finds
Nearly half of U.S. adults now believe they need to earn at least $100,000 annually to live comfortably, according to a new survey released by Bankrate.
GOP Budget Bill Could Increase Medical Debt by $50 Billion, Affecting Millions: Report
Proposed federal health-care cuts under the Republican-backed “One Big Beautiful Bill Act” could add as much as $22,800 in medical debt per family and push total U.S. medical debt up by $50 billion, a new report from think tank Third Way reveals.
On-Time Payments Alone Won’t Guarantee Credit Score Boost, Experts Warn
Financial experts are cautioning consumers that simply paying bills on time may not be enough to improve their credit scores, despite widespread belief to the contrary.
Credit Card APRs Continue to Climb Despite Fed Rate Pause
Consumers face rising borrowing costs as banks shield against credit risk. Despite the Federal Reserve holding interest rates steady since December, credit card annual percentage rates (APRs) are climbing to record highs, driven by lender concerns over consumer risk.
Senate Proposes $6,000 Tax Deduction for Seniors in Revised GOP Tax Bill
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.
Social Security Retirement Trust Fund May Be Depleted by 2033, Trustees Warn
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.
Senate GOP Tax Bill Offers Car Loan Interest Deduction, Excludes Used Vehicles
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.
Republican Student Loan Bill Proposes Major Overhaul, Raises Concerns over Borrower Hardship
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.
Experts Warn of Little-Known Credit Card Practice That May Jeopardize Accounts
Consumers who repeatedly max out and repay credit cards to increase spending power may face account closures and credit score damage, analysts caution.
Dynamic Pricing Transforms Cost of Summer Visits to U.S. Attractions
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.
Senate GOP Student Loan Plan May Trigger Wave of Defaults, Experts Warn
A Senate Republican proposal to overhaul student loan repayment could lead to a dramatic increase in borrower defaults, according to higher education advocates.
Federal Reserve Expected to Hold Interest Rates Steady amid Political Pressure
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.
Republican ‘Big Beautiful’ Bill Offers Tax Boosts but Cuts Aid for Low-Income Families and Children
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.
Summer Fridays Lose Ground as Employers Prioritize Hybrid Flexibility
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.
Suburban Rental Surge Reshapes U.S. Housing Landscape
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.
Education Department Sought Treasury's Help Managing Student Loans, Court Records Reveal
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.
Trump-Backed Spending Bill Could Tighten Access to Low-Income Tax Credit
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.
Trump’s $1,000 Baby Bonus Plan Draws Mixed Reactions from Experts
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.
Supreme Court Grants DOGE Access to Social Security Data in Controversial Ruling
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.
Harvard-Trump Visa Dispute Poses $180 Million Economic Risk to Boston, Analysis Shows
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.
Career Experts Warn of Slow Job Market Amid Low Unemployment Rates
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.
Borrowers Report Interest Accrual Despite Federal Promise of Interest-Free Forbearance
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.
Average 401(K) Savings Rate Hits Record High of 14.3%, Fidelity Reports
The average 401(k) savings rate in the U.S. has reached a historic high, climbing to 14.3% of income when accounting for both employee and employer contributions, according to a new report from Fidelity Investments.
House GOP Bill Threatens Health Coverage for Millions, Cbo and Policy Experts Warn
Millions of Americans could lose health insurance under the House Republicans’ sweeping tax and spending legislation, the One Big Beautiful Bill Act, according to analyses by the Congressional Budget Office (CBO) and independent health policy experts.
Denmark Raises Retirement Age to 70, Prompting Debate over U.S. Policy Shift
Denmark will raise its public pension retirement age to 70 by 2040, setting the highest retirement threshold in Europe and sparking renewed discussion over whether the United States might pursue a similar path.
Millions of Seniors May Face Long Drives Under New Social Security Policy
A new Social Security Administration (SSA) policy requiring in-person visits for direct deposit changes is expected to result in nearly two million additional visits to local field offices annually, prompting concerns over accessibility for elderly and disabled beneficiaries.
Social Security Benefits Spared from Student Loan Collections, but Wage Garnishment Set to Resume
The Trump administration has postponed plans to garnish Social Security benefits from defaulted student loan borrowers, while wage garnishments are expected to resume later this summer, according to the U.S. Department of Education.
Trump-Backed Tax Bill Could End Salt Deduction Workaround for Some Business Owners
A House-approved Republican tax bill could eliminate a widely used state tax workaround for certain pass-through businesses, drawing concern from industry groups and tax policy experts.
U.S. Travelers Plan Frugal Summer Vacations amid Economic Uncertainty
Despite an increase in the number of Americans planning leisure vacations this summer, many are cutting back on spending due to economic concerns, according to a new report from Deloitte.
Senate Eyes Changes to Child Tax Credit in Debate over Trump’s Tax and Spending Bill
As the Senate prepares to debate President Donald Trump’s sweeping multi-trillion-dollar tax and spending proposal, possible changes to the child tax credit are emerging as a key point of discussion.
House Passes Sweeping Tax and Spending Bill; Senate Changes Expected
House Republicans have passed a sweeping multitrillion-dollar tax and spending bill that enacts many of former President Donald Trump’s priorities, setting the stage for a contentious Senate debate expected to reshape key provisions.
Social Security Checks May Shrink in June as Student Loan Garnishments Resume
Some Social Security beneficiaries may receive smaller checks this month, as the federal government resumes garnishing benefits from those in default on their student loans.
Experts Warn of Rising Tariff Scams Amid Shifting Trade Policies
As new U.S. tariff policies take effect, cybersecurity experts are warning that scammers are exploiting the confusion to launch fraudulent schemes targeting consumers.
Trump Targets Harvard Funding, Elevates Trade Schools in Education Debate
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.
Trump Administration Lifts Crypto Restrictions in 401(K) Plans, Reversing Biden-Era Policy
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.
House GOP Budget Plan Proposes Expanded Tax Break for Pass-Through Businesses
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.