The financial news that actually matters
American households are carrying more revolving debt than at any prior point on record, with the Federal Reserve’s consumer credit data showing outstanding balances have climbed to $1.25 trillion. The figure caps a steady rise that began after pandemic-era lows and lands at a moment when elevated interest rates make each dollar of carried debt…
Married couples whose combined wealth falls below $30 million will owe zero federal estate tax on transfers to the next generation starting in January 2026, after the IRS confirmed a per-person basic exclusion amount of $15,000,000 for estates of decedents dying that calendar year. That figure is up from $13,990,000 in 2025, and because federal…
Roughly 330,000 importers that collectively paid about $166 billion in tariffs on some 53 million shipments now face a split reality: half that money is already in the refund pipeline, and the other half hangs on a legal fight the administration wants to restart. Customs and Border Protection disclosed in a recent court filing that…
Millions of hourly workers across the United States can now subtract a portion of their overtime earnings from federal taxable income, a direct result of the One, Big, Beautiful Bill signed into law earlier this year. The new deduction, capped at $12,500 per individual or $25,000 for married couples filing jointly, applies only to overtime…
More than 243,000 American workers have received formal layoff warning notices so far in 2026, based on filings logged across state labor department databases. These notices, required by federal law before large-scale job cuts take effect, signal that tens of thousands of positions are set to disappear in the weeks ahead. The count draws from…
American car buyers are now financing new vehicles over longer periods than at any point in the recorded history of the federal data series. The average maturity on a new car loan at finance companies has reached 69 months, according to the Federal Reserve’s G.19 Terms of Credit release. That figure, nearly six years of…
Subprime auto borrowers who took out loans during the post-pandemic price surge have now spent close to four years owing more than their vehicles are worth, and federal data shows they account for a sharply outsized share of repossessions. The Federal Reserve, the Consumer Financial Protection Bureau, and the Senate Banking Committee have each flagged…
A married couple collecting Social Security typically receives two separate monthly payments, one based on each spouse’s earnings record. When one partner dies, the household does not keep both checks. Federal rules allow the survivor to receive only the higher of the two benefits, not the combined total. For couples where one spouse earned far…
Brent crude has dropped to about $93 a barrel after spiking to $114 earlier this year, yet the Strait of Hormuz, the narrow passage that channels roughly a fifth of the world’s seaborne oil, has remained effectively shut to commercial tankers since late February 2026. The price retreat suggests traders are betting on alternative supply…
Most married couples filing their 2026 federal tax returns will claim a standard deduction of $32,200, a figure large enough to make itemizing pointless for roughly nine out of ten filers. The IRS announced the amount as part of its annual inflation adjustments for tax year 2026, incorporating changes from the One, Big, Beautiful Bill….
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