5 ways Trump's presidency could affect the economy — and your money
Donald Trump's victory in the 2024 presidential election is likely to have a major impact on the economy. Here's what to know.
Taxes
Former Trump adviser on U.S. economic outlook
Former President Donald Trump has largely based his 2024 campaign on the economy. Former Trump chief economic adviser Gary Cohn joins CBS News to assess the former president's plans.
Here's how Harris and Trump's tax plans would impact your taxes
Harris and Trump both have proposed historically large tax overhauls. Here's what to know.
IRS increases pension and retirement plan contribution limits for 2025
2025 contribution limit for 401(k) plans is $23,500, up from $23,000 in 2024. IRA contribution limit remains $7,000.
Impact of Trump proposals on Social Security
A new analysis suggests former President Donald Trump's economic proposals, should he win the election, could speed up when the Social Security trust fund runs out of money. This is according to a report by the nonpartisan group Committee for a Responsible Federal Budget. Marc Goldwein, senior vice president and senior policy director for the group, joins CBS News to unpack the findings.
The IRS has announced its new 2025 tax brackets. Here's what to know.
The IRS has adjusted tax brackets and dozens of other provisions for inflation. Here's how that will impact your taxes.
How the 2025 tax brackets impact you
CBS News business analyst Jill Schlesinger breaks down the new IRS 2025 tax brackets. Each year, the agency makes adjustments to the tax code to account for inflation.
Trump's Social Security plan could lead to 33% benefits cut: Analysis
Donald Trump's plans could undermine Social Security's financial stability and lead to a large benefits cut, nonpartisan think tank says.
Here's who would benefit from Trump's tax plan on car loan interest
Donald Trump is proposing making interest on car loans tax-deductible. But the benefit would mostly help high earners.
What Kamala Harris says her tax plans mean for voters
The economy has weighed heavily on voters' minds as the Nov. 5 presidential election nears. Vice President Kamala Harris shares her plans.
Walz, Vance lay out campaigns' economic plans
The Wharton School says Harris and Trump campaigns' economic proposals would increase the national deficit. "CBS Evening News" anchor and managing editor Norah O'Donnell asked Minnesota Gov. Tim Walz and Ohio Sen. JD Vance how they would pay for the plans without ballooning the deficit.
The IRS will soon set its new 2025 tax brackets. Here's what to know.
The IRS adjusts its tax brackets and other provisions each year for inflation. Here's what experts say to expect in 2025.
Trump pledges lower taxes in Georgia
Former President Donald Trump outlined his plan to lower taxes for American manufacturing in Georgia on the campaign trail Tuesday, while Vice President Kamala Harris' campaign held a "Republicans for Harris-Walz" event. CBS News chief election and campaign correspondent Robert Costa and CBS News digital reporter Aaron Navarro have the latest.
Tab for Trump's tax proposals is adding up. Can the U.S. afford them?
Former President Donald Trump has unveiled a flurry of proposed tax cuts aimed at seniors, homeowners, tipped workers and more.
Biden economic adviser unpacks Fed rate cut
The Federal Reserve reduced its benchmark interest rate for the first time in more than four years on Wednesday. The move will directly impact the finances of millions of Americans. Jared Bernstein, chair of the White House Council of Economic Advisers, joins "America Decides" to discuss.
Trump wants to eliminate the $10,000 SALT deduction cap he created
Donald Trump is proposing to reverse a key element of his signature 2017 tax law that affected millions of homeowners. Here's what to know.
Harris and Trump push for Child Tax Credit hike
Government figures show it now costs more than $300,000 to raise a child from birth to age 18. Since 1997, the federal child tax credit has been helping parents save a little bit of that money. Now, both the Harris and Trump campaigns are proposing supersized versions of the tax break. Nancy Cordes reports.
Trump repeats false Haitian migrants rumor
The presidential candidates hit more battleground states on Friday, with Vice President Kamala Harris visiting two towns in Pennsylvania and former President Donald Trump holding a rally in Nevada. Trump repeated a widely debunked rumor that undocumented Haitian migrants in Springfield, Ohio, are eating people's pets. CBS News campaign reporter Katrina Kaufman has more.
Gov. Cooper: Harris can "carve her own way"
North Carolina Gov. Roy Cooper says Vice President Kamala Harris is "her own person" and has already shown that she wants a way forward while outlining some of her positions on the campaign trail. "It's a pretty clear choice for me," Cooper told CBS News' Caitlin Huey-Burns ahead of Tuesday's debate between Harris and former President Donald Trump.
Apple must pay Ireland more than $14 billion in back taxes, court rules
Ruling comes on same day EU court enforces whopping $2.7 billion penalty against Apple in long-running antitrust case.
IRS has recovered $1.3 billion in unpaid taxes from rich Americans
The IRS said funding from the Inflation Reduction Act has helped it go after wealthy taxpayers who failed to pay their tax bills.
Harris unveils small businesses plan
Vice President Kamala Harris released new details Wednesday on tax incentives for small businesses should she win the 2024 election. CBS News campaign reporter Shawna Mizelle reports on the plan.
Harris proposes incentives for small businesses
While campaigning in New Hampshire on Wednesday, Vice President Kamala Harris served up an idea that would allow new small businesses a chance to write off up to $50,000 in startup costs, up from the current maximum of $5,000. Ed O'Keefe reports.
How your paycheck would be impacted by the Trump and Harris tax plans
Each presidential candidate is proposing significant changes to the tax code. Here's who would win and lose.
Inside Harris and Trump's competing tax plans
Vice President Kamala Harris and former President Donald Trump's tax plans could affect your paychecks in very different ways. CBS MoneyWatch associate managing editor Aimee Picchi has a look at each of them.
Live
U.N. experts say U.S. may have committed war crimes with 2 Iran strikes
U.N.-commissioned rights experts say there are "reasonable grounds" to believe the U.S. committed war crimes with strikes that killed scores of Iranian civilians.
Patrick Clancy says he still talks to his kids "all the time"
This Sunday on 60 Minutes, Patrick Clancy talks about his grief, his memories of his children, and the baseless conspiracy theories that flooded social media since his ex-wife's murder trial.
First on CBS
Trump ordered DOJ not to appeal ruling loosening gun limits, sources say
President Trump ordered the Justice Department not to appeal a court ruling that loosened restrictions on firearms known as "gangster weapons," sources familiar with the matter told CBS News.
Farmer who voted for Trump says farmers are "all just in survival mode"
Matt Bell said he initially supported Trump's policies but now feels he and other farmers were "sold a bill of goods" that there was a plan to "put America's farmers and ranchers first."
Investigation
There are more trucks on U.S. highways. But the government is inspecting them less.
A CBS News investigation finds that more than 600 people have died in crashes since 2024 with trucks operated by companies that had never been subjected to a roadside safety inspection.
Holdout juror in Lindsay Clancy trial says he "didn't have any doubts"
Michael Desronvil, the lone holdout juror in the high-profile Lindsay Clancy murder trial, said he "didn't have any doubts" during deliberations.
F-16 from Texas crashes in Michigan, evacuation order issued
Blair Township Supervisor Nicole Blonshine said she was told the aircraft was an F-16 but does not have "100% confirmation." The pilot parachuted out before it crashed, she said.
Trump photo shows him viewing "Kennedy Center demolished" document
In court documents filed Wednesday by Rep. Joyce Beatty, a witness said he saw a "forklift run into and hit the pillars" of the building.
Patrick Clancy's wife to appear on 60 Minutes
Ross Douthat's interview with Patrick Clancy and Dr. Rachel Danis airs Sunday on 60 Minutes.
U.S.
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Holdout juror in Lindsay Clancy trial says he "didn't have any doubts"
Michael Desronvil, the lone holdout juror in the high-profile Lindsay Clancy murder trial, said he "didn't have any doubts" during deliberations.
First on CBS
Trump ordered DOJ not to appeal ruling loosening gun limits, sources say
President Trump ordered the Justice Department not to appeal a court ruling that loosened restrictions on firearms known as "gangster weapons," sources familiar with the matter told CBS News.
Farmer who voted for Trump says farmers are "all just in survival mode"
Matt Bell said he initially supported Trump's policies but now feels he and other farmers were "sold a bill of goods" that there was a plan to "put America's farmers and ranchers first."
No relief in sight for U.S. drivers as gas and diesel prices surge
The Iran war and Russia-Ukraine conflict are knocking out global refining capacity, pushing fuel prices higher, analysts said.
F-16 from Texas crashes in Michigan, evacuation order lifted
An F-16 fighter jet crashed in Grand Traverse County, Michigan, on Thursday, triggering an evacuation order along part of County Road 633, the county's emergency management said.
MoneyWatch
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No relief in sight for U.S. drivers as gas and diesel prices surge
The Iran war and Russia-Ukraine conflict are knocking out global refining capacity, pushing fuel prices higher, analysts said.
What the Fed's rate hike reveals about Warsh, Trump and inflation
The Fed's first rate hike in more than three years underscores the challenge of taming inflation as the Iran war drags on.
1 in 3 Americans with health insurance have medical debt, survey finds
Nearly half of Americans with medical debt owe at least $2,000, forcing them to make tough choices, new research shows.
Millionaires are everywhere in the U.S., new book says
Getting rich in the U.S. is still possible, but the most common path to wealth doesn't involve working for other people, according to a new book.
OpenAI reveals 6 more incidents of "unexpected or concerning" AI behavior
OpenAI has disclosed six reports of "unexpected or concerning" behavior in artificial intelligence models as the debate on AI safety becomes increasingly heated.
Politics
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First on CBS
Trump ordered DOJ not to appeal ruling loosening gun limits, sources say
President Trump ordered the Justice Department not to appeal a court ruling that loosened restrictions on firearms known as "gangster weapons," sources familiar with the matter told CBS News.
Farmer who voted for Trump says farmers are "all just in survival mode"
Matt Bell said he initially supported Trump's policies but now feels he and other farmers were "sold a bill of goods" that there was a plan to "put America's farmers and ranchers first."
Senate Democrat blocks bill to shield Americans from data center energy costs
One Senate Democrat scuttled a Republican-led effort to pass legislation aimed at shielding Americans from energy costs attributed to data centers, saying it didn't go far enough.
White House withdraws ICE director nominee Richard Schroyer
Richard Schroyer's nomination was held up in the Senate. The White House eventually pulled it.
Iran downed at least 2 American drones in recent days, U.S. officials say
Iranian forces in recent days have brought down at least two American MQ-1 unmanned aircraft, according to U.S. officials familiar with the matter.
HealthWatch
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HealthWatch
Conjoined twins separated in Ethiopia
Two-year-old conjoined twin sisters saw each other face-to-face for the first time after a successful 24-hour surgery to separate them. Ian Lee reports from the children's hospital in St. Louis, where it happened.
1 in 3 Americans with health insurance have medical debt, survey finds
Nearly half of Americans with medical debt owe at least $2,000, forcing them to make tough choices, new research shows.
How Olympian Aly Raisman learned to advocate for her own health
In the latest episode of "Healthful," Olympic gold medalist Aly Raisman discusses what she's learned about speaking up for herself and taking care of her body.
Investigation
A trusted seal made websites look legit. The weight-loss drug they sold wasn't.
Selling retatrutide commercially is prohibited by federal law. Yet, companies have promoted the drug on social media, thanks in part to being certified by LegitScript.
Outcome of employment lawsuit could promote use of skimpy health plans
A long-running lawsuit challenging what it means to be an employee and therefore have access to work-based health plans is being closely watched by health policy analysts.
World
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Iran downed at least 2 American drones in recent days, U.S. officials say
Iranian forces in recent days have brought down at least two American MQ-1 unmanned aircraft, according to U.S. officials familiar with the matter.
Canada, EU look to forge an "Alliance for the Future" amid Trump threats
Canada's leader draws regular scorn from President Trump, but European leaders gave him a standing ovation as they aim to push their ties to "the highest level."
Princess Diana's brother claims Charles told him, "we'll forget her soon"
The late Prince Diana's brother claims in a new book that King Charles had "contempt" for his ex-wife, telling him she would be forgotten "soon enough."
1,700-year-old fragment of "Odyssey" discovered inside library book
The paper was found inside a collection of early Christian manuscripts purchased by Utrecht University in the mid-20th century.
Possible U.S. war crimes in Iran cited by U.N.-backed experts
Human rights experts commissioned by the U.N.'s top human rights body say they have found "reasonable grounds" to believe the United States committed war crimes in two strikes in Iran.
Entertainment
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Entertainment
From the archives: Bob Mackie on being dressmaker to the stars
Nine-time Emmy-winning costume designer Bob Mackie, who clothed such musical and comedic talents as Cher, Carol Burnett, Barbra Streisand and Liza Minnelli, died on Sept. 14, 2026 at age 87. In this Sept. 21, 2003 "Sunday Morning" profile, Mackie talked with correspondent Rita Braver about how a star-struck kid growing up outside Hollywood became a dressmaker to the stars, and what fascinates him about divas. He also talked about the tragic death of his son, Robin, from AIDS.
Jacob Tremblay on starring in "Unabomber"
Jacob Tremblay, who stars in Netflix's new film, "Unabomber," sits down with "CBS Mornings" to discuss his career, working with Russell Crowe and what it was like to play a young Ted Kaczynski.
Global Citizen founder explains motivations
The 2026 Global Citizen Festival kicks off in New York City's Central Park in late September. Global Citizen co-founder Hugh Evans explains the charity work his organization does.
Sheeran torched over Macklemore tour ousting
Ed Sheeran is facing intense public backlash after rapper Macklemore, who was set to open his upcoming tour dates, was dropped from the production over pro-Palestine comments. CBS News' Shanelle Kaul reports and Alex Suskind, news director at online music magazine Pitchfork, joins "The Daily Report" to discuss.
Judge Judy's son takes up the gavel in new show
Judge Judy has been a staple of daytime TV for 30 years, but now televised courts are becoming a family affair with her son, Adam Levy, picking up the gavel and donning the robe for "Adam's Law." Judge Levy joins CBS News to preview the new show.
Technology
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Technology
Ethical AI advocate on safety concerns
OpenAI on Thursday revealed an additional six incidents in which its artificial intelligence models exhibited unexpected or concerning behavior. Stuart Russell, a distinguished professor of computer science at UC Berkeley and president of the International Association for Safe and Ethical AI, joins CBS News to discuss.
Rep. Larsen: "We need to get serious" about AI
From terror groups to possible existential threats to rogue bots, safety concerns over artificial intelligence have grown in recent weeks. Democratic Rep. Rick Larsen of Washington joins CBS News to discuss how Congress can act.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
FBI expands AI usage despite safety warnings
FBI Director Kash Patel said this week the bureau is expanding its AI usage. That statement came just as OpenAI disclosed 6 new instances of "unexpected or concerning" AI behavior. Ian Krietzberg, AI correspondent at Puck News, joins "The Daily Report."
Experts discuss the potential dangers of AI
Amid growing concerns about the safety of artificial intelligence following resignations and reports of models going rogue, experts joined CBS News to unpack the potential threat AI could pose to humanity.
Science
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Humpback whale seen grieving dead calf in rare footage
The footage shows a female humpback whale staying close to the dead calf as it lies motionless on the seafloor, touching it with its head and fin.
Remains of ancient warhorse given honorific burial discovered in Egypt
Archaeologists say they've discovered the remains of a likely ancient Egyptian warhorse given an honorific burial more than 3,000 years ago.
Anthropic CEO says "exponential" growth of AI is a "warning sign"
Artificial intelligence technology is developing at an "exponential" rate, Anthropic CEO Dario Amodei told CBS News, calling the situation a "warning sign" for the industry that requires serious safeguards.
First-ever adult T. rex trackway found in North Dakota
Paleontologists have identified the first known trackway made by a full-grown Tyrannosaurus rex, and the discovery was made in the North Dakota badlands.
Ig Nobel prizes go to scientists studying cockroach milk, nose-blowing, more
Ten research teams were honored at a satirical science awards ceremony that was hosted outside the U.S. for the first time due to travel concerns. A study of cockroach milk was among the winners.
Crime
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Crime
Patrick Clancy, his wife sit with 60 Minutes
Patrick Clancy and his new wife, fertility doctor Rachel Danis, sat down with 60 Minutes this week. Shanelle Kaul has a preview of the story, which airs Sunday.
Government truck safety inspections decline
Government roadside inspections of commercial trucks are declining. With that in mind, a CBS News investigation found more than 2,000 people have been killed since 2019 in accidents involving licensed trucking companies that had no roadside inspection on record before the crash. CBS News senior investigative data journalist Steve Reilly reports.
Philly police probing possible serial murders
Philadelphia police, along with the FBI, are investigating possible serial murders in the city. This comes after investigators discovered evidence tied to at least five missing women in a home in the city's Olney neighborhood. CBS Philadelphia reporter Joe Holden has the latest.
Evidence discovered in "house of horrors"
Investigators are looking into photo and video evidence that appears to show missing women dead inside a so-called "house of horrors" in Philadelphia. CBS News' Jericka Duncan has more on the case.
Coast Guard concerned about AI crime
The U.S. is investigating cyberattacks on two energy tankers to determine whether Iran was involved. CBS News' Nicole Sganga has what you need to know.
Space
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NASA spacecraft discovers moon crater bigger than Roman Colosseum
Scientists have discovered a crater on the moon that's bigger than the Roman Colosseum, the result of a powerful impact two years ago.
NASA launches its Roman Space Telescope to explore the hidden universe
NASA's Roman Space Telescope launched shortly after daybreak from Kennedy Space Center and blazed toward an observation point 1 million miles away.
Roman Space Telescope promises 300-megapixel views of the cosmos
The $4.3 billion telescope is expected to discover tens of thousands of exoplanets while probing the nature of mysterious dark matter and energy.
First on CBS
Trump to honor Artemis II crew with nation's top space medal
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
NASA's Swift telescope will plunge toward Earth after rescue mission called off
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Latest CBS News Videos
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Latest CBS News Videos
Farmer considers quitting due to price hikes
Matt Bell has been farming in North Carolina for more than half his life. He voted for President Trump but said farmers are "fighting for survival" as they combat rising prices.
Legal expert on Trump's Kennedy Center battle
President Trump has suggested that he might demolish the Kennedy Center in Washington, D.C. CBS News legal contributor Jessica Levinson breaks down the constitutional implications.
Patrick Clancy, his wife sit with 60 Minutes
Patrick Clancy and his new wife, fertility doctor Rachel Danis, sat down with 60 Minutes this week. Shanelle Kaul has a preview of the story, which airs Sunday.
Ethical AI advocate on safety concerns
OpenAI on Thursday revealed an additional six incidents in which its artificial intelligence models exhibited unexpected or concerning behavior. Stuart Russell, a distinguished professor of computer science at UC Berkeley and president of the International Association for Safe and Ethical AI, joins CBS News to discuss.
Rep. Larsen: "We need to get serious" about AI
From terror groups to possible existential threats to rogue bots, safety concerns over artificial intelligence have grown in recent weeks. Democratic Rep. Rick Larsen of Washington joins CBS News to discuss how Congress can act.