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Mike Kemp | In Pictures | Getty ImagesA massive tax-and-spending package championed by President Donald Trump and passed by the Senate on Tuesday would end tax credits for electric vehicles within three months.The legislation, which Republicans are trying to get to the president’s desk by July 4, would end tax breaks for consumers who buy or lease EVs after Sept. 30.Lawmakers would eliminate a $7,500 tax credit for the purchase or lease of a new EV, and a $4,000 credit for the purchase of a used EV.”If you’re interested in driving an EV — either new, used or leased —…

Senate staffers rest on the U.S. Capitol steps at sunrise as Republican lawmakers struggle to pass U.S. President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., U.S., July 1, 2025. Nathan Howard | ReutersHow to read this guideFollow along from start to finish, or use the table of contents to jump to the section(s) you want to learn more about.Since 2018, the $10,000 cap on the state and local tax deduction, known as SALT, has been a critical issue for certain lawmakers in high-tax states such as New York, New Jersey and California.The SALT deduction…

Senate Majority Leader John Thune (R-SD) speaks during a news conference following the weekly Senate Republican policy luncheon at the U.S. Capitol on June 17, 2025 in Washington.Anna Moneymaker | Getty Images News | Getty ImagesSenate Republicans on Tuesday passed changes to the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump’s multitrillion-dollar spending bill.Passed via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s a $10,000 limit on the SALT deduction through 2025, which has been a pain point for certain lawmakers in high-tax blue states.  If enacted, the Senate bill…

Saudi Arabian side Al Hilal sent English giants Manchester City crashing out of the Club World Cup on Monday, snatching a shock 4-3 victory in extra time in the biggest upset of the tournament so far. The match finished 2-2 at full-time but at the end of an eventful extra-time Marcos Leonardo grabbed the winner and pulled off one of the greatest wins in Middle Eastern football history. The Saudi club advances to the quarter-finals where they will face Brazilian club Fluminense, ensuring a non-European team will reach the last four. City had taken the lead in the ninth minute…

Halfpoint Images | Moment | Getty ImagesSenate Republicans on Tuesday passed President Donald Trump’s spending package, which includes a bigger child tax credit — but some families won’t see a benefit, policy experts say.Under current law, the maximum child tax credit is $2,000, which will revert to $1,000 after 2025 without changes from Congress. Wider income eligibility limits will also sunset without an extension.If enacted, the Senate bill would permanently raise the top credit to $2,200 starting in 2025. The provision would also index this figure for inflation after 2025.By contrast, the House-approved One Big Beautiful Bill Act would increase…

Defending champion Barbora Krejcikova survived a stiff examination from promising 20-year-old Filipina Alexandra Eala before finding her groove to triumph 3-6 6-2 6-1 on her return to Wimbledon’s Centre Court on Tuesday. Czech Krejcikova, a shock winner as 31st seed last year and seeded 17th this time, came into the tournament short on form after a succession of injuries and initially had no answer to the confident, free-swinging Eala, who is the first woman from the Philippines to play at Wimbledon. Eala turned 20 in May and was making her first Wimbledon appearance, but she immediately looked at home in…

CNN  —  The “wait-and-see” is turning into a “just-can’t-wait-anymore.” US employers moved forward on plans to increase their workforces in May, with the number of available jobs rising to a six-month high, according to Bureau of Labor Statistics data released Tuesday. Job openings, which serve as a closely watched measure of labor market demand, totaled an estimated 7.77 million at the end of May, rising from 7.4 million in April, according to the BLS’ latest Job Openings and Labor Turnover Survey. Economists were expecting the number of available jobs to retreat after unexpectedly bouncing higher in April, reflecting an environment…

Pakistan women’s left-arm spinner Sadia Iqbal took the top spot in the International Cricket Council Women’s Twenty-20 International (T20I) Bowler Rankings once again, cricket’s governing body announced on Tuesday. Sadia was pivotal to Pakistan’s win in the recently concluded ICC Women’s World Cup Qualifiers in Lahore and was named in the team of the tournament for her nine scalps for an average of 16. “Pakistan spinner Sadia Iqbal remains at the top of the list for T20I bowlers, but it’s tight at the top with just 44 rating point separating the top 10 players,” the ICC statement said. The statement…

Many consumers are buying retailers’ cheaper alternatives to name-brand items without even meaning to.So-called private-label products have been getting more popular for years as inflation-weary shoppers hunt for bargains. U.S. sales of store-brand products rose nearly 4% last year to a record $271 billion, the Private Label Manufacturers Association estimated in January. But it isn’t just affordability driving the shift. Many customers can’t distinguish name-brand products from private-label ones as well as they think they can.About 71% of consumers surveyed recently by First Insight said they knew when they were buying a private-label item. But when the retail market-research firm showed them in-house and name-brand products…

Washington CNN  —  The Federal Reserve would likely have lowered interest rates this year if it weren’t for President Donald Trump’s significant policy changes, Chair Jerome Powell said Tuesday. “I do think that’s right,” he said at a central banking forum in Sintra, Portugal, when asked if the Fed would have cut rates by now. The Fed hasn’t lowered interest rates at all this year: Central bankers broadly expect Trump’s tariffs to have some effect on the US economy and they’ve said that they want to see how the dust settles first before resuming rate cuts. But the Fed’s wait-and-see…