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. |
House Republicans have rolled out a sweeping tax plan that could stand as one of President Donald Trump 's signature legislative accomplishments in his second term. |
The proposal, unveiled May 12, would make the 2017 Tax Cuts and Jobs Act permanent, along with several other tax breaks. Click here for details. |
A retirement crisis for women |
Katherine Gotthardt's husband retired last year, but she doesn't think she'll ever be able to join him. |
Gotthardt, 55, works part-time at a community newspaper in Virginia for $18 an hour. She also freelances. Gotthardt's husband thinks his retirement pension and savings could support the household, which includes an adult son with autism. But she's not so sure. |
For women, saving for retirement can be daunting. Women historically earn less than men and tend to take more time away from work for caregiving duties. And those losses compound over time. |
US economic outlook brightens overnight |
The U.S.-China agreement to slash outsize reciprocal tariffs during a 90-day pause in their trade war is expected to boost America's projected economic growth this year, curtail inflation and reduce recession risks, economists say. |
But some forecasters cautioned that there's no guarantee the truce will be sustained after the three-month hiatus. It's also worth noting that the two nations failed to reach a wide-ranging deal during President Trump's first term. |
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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 proposal will be part of a sweeping bill packed with GOP priorities. | | For women, the gender wage gap and caregiving duties compound over time, putting them at an even greater disadvantage when it comes to retirement. | | | | US economic outlook improves, inflation forecasts drop and recession odds fall after US-China trade deal to reduce the highest tariffs for 90 days. | | | | Inflation eased to new 4-year low in April before tariffs had yet to significantly boost consumer prices. | | | | Moving money to a less expensive money market fund may be ok, but beware when using fees to determine all your investment choices. | | | | Trump asks the drug industry to voluntarily lower prices for U.S. consumers or be subject to a barrage of regulatory actions to force lower prices. | | | | The Social Security Administration has processed 2.3M benefit adjustments. But that still leaves roughly 900K Americans waiting on their extra money. | | | | On average, people start paying for their own cell line at 27, but 18% don't take on the financial responsibility until after they've turned 40. | | | | An inflation slowdown in this week's CPI report may be partly caused by an unlikely factor: tariffs. They're pushing down prices by dampening demand | | | | 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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