The Daily Money: House Republicans unveil their tax plan
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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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, 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.