Speaker of the House Mike Johnson, R-La., speaks to reporters as he walks back to his office as the House of Representatives waits to vote on President Trump’s “big beautiful bill” reconciliation package on July 3, 2025. Bill Clark | CQ-Roll Call, Inc. | Getty Images A massive package of tax cuts President Trump signed […]
Trump’s ‘big beautiful bill’ passes SALT deduction limit of $40,000
U.S. House of Representatives Speaker Mike Johnson speaks after the U.S. President Donald Trump’s sweeping spending and tax bill passes, on Capitol Hill in Washington, D.C., U.S., July 3, 2025. Umit Bektas | Reuters House Republicans on Thursday approved President Donald Trump‘s “big beautiful bill,” which includes changes to the limit for federal deduction for […]
Tax deductions and Trump’s ‘big beautiful’ bill: Here’s who benefits
Senate Majority Leader John Thune (R-SD), flanked by Sen. John Barrasso (R-Wyoming), Sen. Mike Crapo (R-Idaho) and Sen. Lindsey Graham (R-SC), speaks to reporters after the Senate passed President Trump’s reconciliation package on July 1, 2025. Bill Clark | Cq-roll Call, Inc. | Getty Images Tax cuts are the centerpiece of a massive legislative package […]
What the Senate Republican ‘big beautiful’ bill means for your money
Senate staffers rest on the U.S. Capitol steps at sunrise as Republican lawmakers struggle to pass U.S. President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., U.S., July 1, 2025. Nathan Howard | Reuters How to read this guide Follow along from start to finish, or use the table of […]
Trump bill helps wealthy, hurts low earners: Yale report
Senate Majority Leader John Thune (R-SD) speaks during a news conference following the weekly Senate Republican policy luncheon at the U.S. Capitol on June 17, 2025 in Washington. Anna Moneymaker | Getty Images News | Getty Images A massive legislative package Senate Republicans are trying to pass this week would hurt the lowest-earning Americans financially […]
How ‘revenge saving’ can improve your finances
Americans are tightening their belts, as concerns about tariffs, inflation, job security and market volatility have prompted many consumers to pare back their spending and increase their savings, financial experts say. The U.S. personal saving rate — the percentage of disposable income that U.S. households save, after they pay taxes and spend money — has […]
Debt is a ‘growing force’ influencing jobseekers’ choices, expert says
Svetikd | E+ | Getty Images Many Americans are carrying debt — and for some, the liability is influencing their career choices and job hunting behaviors. “Debt is a growing force behind why people take certain jobs, stay in roles longer than they’d like, or hesitate to make a career pivot,” said Priya Rathod, a […]
Medicaid cuts still in ‘big beautiful’ bill after parliamentarian ruling
An inflated pig with the message “Medicaid Is Not A Piggy Bank For Billionaires” is stationed at a rally opposing House Republicans Tax Proposal prior to the final House Vote on Capitol Hill on May 21, 2025 in Washington, D.C. Jemal Countess | Getty Images Entertainment | Getty Images While some Medicaid cuts proposed in […]
Student loan ‘default cliff’ coming as late payments rise: reports
With the U.S. Department of Education’s “involuntary collections” on federal student loans now underway, millions of borrowers face a “default cliff,” reports show. A new analysis by TransUnion found that as of April, 31% of student loan borrowers with a payment due are in “late-stage delinquency,” or over 90 days past due on payments. That’s the highest share the […]
Paying for your own cell phone plan
These days, it’s common for parents to give their adult children some financial support. But it wouldn’t take a lot to be considered independent. About three-quarters, or 76%, of Americans say that coming off a parent’s cell phone plan is one of the “ultimate signs” of adulthood, according to a recent survey of over 2,000 […]