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Monday, 2 June 2025

Trump tax bill heads to the Senate

06:25

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Also: A long wait on the job market ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Jun 2 2025

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

House Republicans have done their job, narrowly passing President Donald Trump's sweeping tax and policy bill. Next up: the Senate.

As members of Congress return to Washington today after a weeklong break, the upper chamber will dig into the more than 1,000-page bill. House Speaker Mike Johnson has urged his Senate counterparts to "make as few modifications to this package as possible," but senators may have other plans.

Long waits on the job market

When Jessica Chibuzor-Muko graduated from college a year ago, she figured her degree in cybersecurity would serve as a ticket to a near-certain job at a good salary.

Then she ran into the brick wall known as the 2025 U.S. job market.

No more sticker shock?

American consumers may be learning to live with inflation. 

A long-running Gallup poll shows a steep drop in the share of Americans who name inflation as their biggest financial problem. Another recent survey, from the Ipsos Consumer Tracker, found fewer Americans think prices are rising.

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About The Daily Money

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.

U.S. President-elect Donald Trump, U.S. Senator Tom Cotton (R-AR), U.S. Senator John Barrasso (R-WY), U.S. Senator Shelley Moore Capito (R-WV) and Senate Majority Leader Sen. John Thune (R-SD) look on, after a meeting with Republicans in Congress at the U.S. Capitol building in Washington, U.S. January 8, 2025.

President Trump wants the Senate to slash taxes even more than the House-passed bill - and get the whole thing to his desk for signature by July 4.

Job seekers queue as they wait for a career fair to open in Dallas, Texas.
 

'You become very numb.' High long-term unemployment a sign of distress

As hiring has slowed amid tariffs and economic uncertainty, long-term unemployment has climbed to a more than 2-year high.

Molly Reid shops for groceries Thursday, Feb. 16, 2023, with her children, Oliver and Skye, in Oklahoma City.
 

Are Americans learning to live with inflation?

Some recent surveys suggest inflation is no longer top of mind for many Americans.

People hold flags and signs as the Supreme Court hears arguments over an appeal by President Joe Biden's administration of a lower court's decision upholding a GOP-backed ban in Tennessee on gender-affirming medical care for transgender minors in Washington on Dec. 4.
 

These are the safest states for gay and trans people

When it comes to choosing where to live and work, LGBTQ+ Americans say their options are narrowing as GOP-led states restrict their rights.

ASHEVILLE, NORTH CAROLINA - SEPTEMBER 28: A fallen tree on a home in the aftermath of Hurricane Helene on September 28, 2024 in Asheville, North Carolina. (Photo by Sean Rayford/Getty Images)
 

Home insurance costs are rising. So millions choose to go without.

Roughly 7% of American homeowners have no property insurance, a recent Federal Reserve study found, largely because it is too expensive.

FILE PHOTO: Traffic is pictured at twilight along 2nd Ave. in the Manhattan borough of New York, U.S., March 27, 2019. REUTERS/Carlo Allegri/File Photo
 

Should you buy that car? It makes sense to own one in these cities.

For most Americans, the convenience of owning a car is worth it, but that comfort comes at a steep price.

The Cost of Care is a series of stories featuring caregivers from across the U.S. Take the survey to tell us your caregiving story.
 

Are you a caregiver? USA TODAY wants to hear from you

The Cost of Care is a series of stories featuring caregivers from across the U.S. Take the survey to tell us your caregiving story.

A person wearing a suit holds a tangle of red ribbons that say Tariffs above their head.
 

2 U.S. companies that could be winners in tariff wars

Here are two American companies that could come out ahead with the tariff wars.

After a five year break, debt collection resumes for millions of student loan borrowers who remain in default. Borrowers can contact the Education Department's default resolution group to avoid wage garnishment and more.
 

Credit scores crash after student loan payments resume nationwide

Millions of borrowers saw their credit scores plummet in the first quarter, which could make major purchases like buying a home or car more difficult.

USA TODAY
 

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