Good morning! It’s Daniel de Visé with your Daily Money.
President Donald Trump’s tax bill could make future generations “worse off,” no matter their income, according to a new report from the Penn Wharton Budget Model.
Like prior analyses, these findings suggest most Americans would see tax cuts in the short run, just as Trump and fellow Republicans have advertised. Long-term, though, most people end up in the red. Here’s the math.
Should church group return Target donation?
Target has donated $300,000 to the National Baptist Convention. Now, some critics are calling on the church organization to return the gift.
The calls come from activists who launched a boycott against Target over its rollback of DEI efforts.
Will the donation be returned?
Trump attacks Fed chair again on interest rates
In his stinging monthslong campaign to badger Federal Reserve Chair Jerome Powell into lowering interest rates, President Trump has relied on a variety of arguments.
Most recently, he has cited a claim that the Fed’s refusal to slash rates is costing the federal government hundreds of billions of dollars a year in interest payments on its debt.
Is Trump right?
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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.
