The Daily Money: Child tax credit to rise?
Good morning! It's Daniel de Visé with your Daily Money.
The House of Representatives passed a sweeping, bipartisan tax bill Wednesday that would expand the child tax credit for American families.
The bill, which heads now to the Senate, would adjust the maximum child tax credit, currently $2,000, to $2,100 in tax years 2024 and 2025, according to an analysis by the nonprofit Tax Foundation. And it would raise the portion of the credit that taxpayers may reap as a refund, currently $1,600, to $1,800 for tax year 2023, $1,900 for 2024 and $2,000 for 2025. Read the story here.
Judge rejects Disney's DeSantis lawsuit
A judge has dismissed Disney's First Amendment federal lawsuit against Gov. Ron DeSantis and others, a decision that could have big implications on corporate speech, Douglas Soule reports.
DeSantis, aided by GOP lawmakers, had stripped Disney's control of a special taxing district and given it to himself. The company sued, saying the move was retribution for its public opposition to a state law, called "Don't Say Gay" by critics, which restricts classroom instruction on gender identity and sexual orientation. That punishment of its speech violated the First Amendment, Disney said.
But U.S. District Judge Allen Winsor threw out the lawsuit on Wednesday. Read the story here.
📰 More stories you shouldn't miss 📰
- Why Black workers feel they can't be themselves.
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- Why future interest-rate cuts might not lower your borrowing costs.
- Is Elon Musk overpaid?
- Wall Street has a bad day.
- Side hustle taxes: Everything you need to know in 2024.
🍔 Today's Menu 🍔
Finally: Thank you, Bailey Schulz, for passing us Today's Menu.
Bailey reports that your Super Bowl spread could be more affordable this year. Prices for party favorites like chicken wings have dropped, thanks in part to easing supply chain disruptions.
With grocery prices up roughly 20% from where they were three years ago, throwing a watch party may still feel expensive. But there are ways to cut costs. Read Bailey's story to find out which foods are more affordable this year, and which ones may be worth giving a pass.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.
Daniel de Visé covers personal finance for USA Today.