ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
The House narrowly advanced the GOP spending plan for President Donald Trump's legislative agenda, kickstarting a process that could push forward Trump's "no tax on tips" pledge and other campaign promises. |
The budget resolution sets up a reconciliation bill that would extend Trump's 2017 tax cuts and new cuts worth $4.5 trillion over the next decade. While the plan offers a budget blueprint, it does not specify which taxes to trim. It's up to lawmakers to sort out whether they'll have the leeway to cut taxes on tips. |
How EU tariffs might affect prices |
President Donald Trump's plan to impose 25% tariffs on goods from the European Union is likely to provoke retaliatory action from the group's 27 member countries and could raise prices for American consumers. |
Trump announced the sweeping import taxes during a cabinet meeting Wednesday, in which he said the EU was created to "screw" the United States. The announcement comes as Trump continues to threaten tariffs on goods from Mexico and Canada, and in the wake of previously imposed 10% tariffs on imports from China. |
DEI attacks deal a setback to Black workers |
One month after George Floyd's 2020 murder, the U.S. Chamber of Commerce launched a national initiative to address America's deep racial divides. The message: "Equality of opportunity" is everybody's business. |
But shortly before President Donald Trump took office in January, the high-profile campaign vanished. The webpage touting the Equality of Opportunity Initiative now redirects to the Chamber of Commerce's home page. |
The retreat by the nation's powerful business lobby shows how dramatically corporate America has shifted in less than five years. |
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Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | The House plan paves the way for $4.5 trillion worth of tax cuts, but it's not yet clear if that will include Trump's proposal to end taxes on tips. | | | | These common imports from the European Union could cost more if Trump follows through on plans to enact 25% tariffs. | | | | As DEI attacks escalate in Trump's second term, Black workers are losing the 'incremental' ground they gained after George Floyd's murder. | | | | With inflation and interest rates trending up recently, financial experts are flooding the zone with cost-cutting tips. Consumers have had enough. | | | | The House's budget resolution seeks $2 trillion in federal savings. If the Senate adopts the resolution, lawmaker could target Medicaid savings. | | | | Unfortunately, very few people get the maximum, as it requires somewhat of a perfect storm of factors. | | | | Elon Musk was again ranked the world's richest person in a new "superbillionaire" report. | | | | HUD staff and budget are already stretched too thin, and more will exacerbate a national housing crisis, observers say | | | | Consumers are encouraged not to spend any money on Feb. 28 and if an emergency arises, shop local. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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