Good morning! It’s Daniel de Visé with your Daily Money. Happy Consumer Friday! But first, let’s talk about immigration.
From gas stations in Phoenix to construction sites in Tallahassee, workplace raids crisscrossing the nation have alarmed businesses that suddenly find themselves in the crosshairs of the Trump administration’s immigration crackdown.
The sharp uptick in immigration enforcement activities is a departure for federal authorities, who usually avoid going after businesses.
Immigration, California and the US economy
Trump’s administration is also stepping up deportation efforts in California, with immigration raids at restaurants, traffic stops and routine legal check-ins.
The effort, while popular with voters in polls, has sparked protests. Long term, economists warn that fewer immigrants could mean a weakened economy, prompting labor shortages and slowing economic growth.
‘Big, beautiful bill’ favors the rich
The legislation dubbed the “One Big Beautiful Bill” by President Trump would increase resources for middle and top earners at the expense of lower-income Americans, according to a new analysis from the Congressional Budget Office.
The nonpartisan CBO analyzed the combined effects of many of the House bill’s tax reductions and its cuts to federal programs, including Medicaid and nutrition assistance, over the period between 2026 and 2034. The mega bill is now in the Senate, which is considering changes.
Here’s what the analysis found.
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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.
