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 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.
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.
As new U.S. tariff policies take effect, cybersecurity experts are warning that scammers are exploiting the confusion to launch fraudulent schemes targeting consumers.
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.
The Trump administration on May 28 rescinded guidance issued under President Biden that urged caution around adding cryptocurrency and digital assets to 401(k) retirement plans, easing the path for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 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.
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.
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.
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.
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.
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.
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.
House Republicans passed a new spending package on Thursday that includes an expansion of the child tax credit, raising the maximum benefit to $2,500 per child between 2025 and 2028.
House lawmakers on Thursday passed President Donald Trump’s new tax bill, which includes a provision to create federally funded savings accounts for children, dubbed “Trump Accounts.”
House Republicans are advancing a tax package that would eliminate key clean energy tax credits, including those for electric vehicles (EVs) and home energy-efficiency improvements, potentially forcing consumers to act quickly to claim the benefits before they expire.
A new Republican-backed tax bill proposes sweeping changes to the Supplemental Nutrition Assistance Program (SNAP), potentially slashing the program’s funding by nearly 30%—a move experts say would mark the largest cut in the program’s history.
House Republicans have introduced a proposal for a temporary $4,000 tax deduction aimed at seniors, as part of their “One, Big, Beautiful” tax bill. The deduction is positioned as a more cost-effective alternative to eliminating taxes on Social Security benefits.
The U.S. Department of Education has revealed a backlog of nearly 2 million income-driven repayment (IDR) plan applications, leaving federal student loan borrowers in limbo as they await approval or denial of their requests.
The delinquency rate for student loan balances has surged following the resumption of federal loan collections, raising concerns over broader financial instability, according to a recent report from the Federal Reserve Bank of New York.
Moody’s Investors Service downgraded the U.S. sovereign credit rating from Aaa to Aa1 on Friday, citing the growing burden of the federal government’s budget deficit. The move is expected to lead to higher borrowing costs for consumers across a range of financial products.
A growing number of Americans are unprepared for the high costs of long-term care, which experts say can exceed $100,000 and remain largely uncovered by health insurance or Medicare.
Following a five-year pause, the Trump administration announced on April 21 the resumption of collection efforts on defaulted federal student loans, including wage garnishment, tax refund seizures, and reductions to Social Security benefits.
As property taxes continue to rise across the U.S., experts advise that appealing an inaccurate assessment may result in substantial long-term savings for homeowners.
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.
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.
Social Security recipients who have defaulted on federal student loans may soon see a reduction in their monthly benefits, as the Trump administration resumes involuntary collection efforts.
Democratic Senator Raphael Warnock is raising concerns over proposed Medicaid work requirements, warning they could strip health-care coverage from millions of Americans.
The Social Security cost-of-living adjustment (COLA) for 2026 is currently projected to be the lowest increase in five years, with early estimates pointing to a 2.4% rise in benefits, according to projections by policy analyst Mary Johnson and The Senior Citizens League.
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.
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.
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.
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.
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.
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.
As tariff-related uncertainty fuels stock market swings, financial experts are recommending a time-tested strategy to help protect retirees' savings: the bond ladder.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
Investors hoping to improve their financial outcomes should focus less on finding the next big winner and more on avoiding common mistakes, says Barry Ritholtz, author of "How Not to Invest," published on March 18, 2025.
As stock markets reel from heightened volatility linked to tariff announcements, many investors are retreating to cash — but financial advisors caution that doing so may come at a cost over time.