5 ways Trump's next presidency could affect the U.S. economy — and your money
CBSN
President-elect Donald Trump's victory in the November 5 election highlights the frustrations of millions of voters, with many Americans noting in exit polls on Tuesday that they're still hurting from the highest inflation in 40 years and dissatisfied with the nation's economic trajectory.
Trump ran on a campaign that vowed to tackle those issues, pledging to end the "inflation nightmare" and to bring prices down "very quickly." He also offered a myriad of tax cuts to various groups, ranging from senior citizens to homeowners, as well as to finance some of those cuts through new tariffs on imports from China and other nations and to deport millions of undocumented immigrants.
In the aftermath of Trump's win, economists and policy experts are assessing how those policies might impact the economy as well as consumers' wallets. Already, Wall Street is predicting that his policies could boost corporate growth, sending the S&P 500 higher by as much as 2.2% on Wednesday.
Washington — The 119th Congress begins Friday with Republicans in full control of the House and Senate for the first time since 2019.
At least 15 people were killed during a deadly attack on New Year's Day when a driver slammed into a crowd celebrating New Year's on Bourbon Street in New Orleans, in what is being investigated as a suspected terrorist attack.
A New Year's Eve fireworks explosion in a Honolulu-area neighborhood killed at least three people and critically injured 20 others, authorities said.
A Tesla Cybertruck caught fire outside the Trump Towers in Las Vegas, according to officials and video reports of the vehicle engulfed in flames.
Washington — President-elect Donald Trump will hold a rally-type event on Jan. 19 at the Capital One Arena in Washington, D.C., just ahead of his inauguration, according to multiple sources familiar with the planning.
Washington — House Republicans released a new rules package on Wednesday that will raise the threshold to force a vote on ousting the speaker.
Some Americans could get a break on their state income taxes this year, with nine states kicking off 2025 with a reduction in their individual income tax rates, according to an analysis from the Tax Foundation, a think tank that focuses on taxes.
Officials in New Orleans are holding a news conference on an attack on Bourbon Street that killed at least 10 people and injured dozens of others in the early hours of New Year's Day as revelers were celebrating.
In the wake of a deadly New Year's Day attack on a crowd of revelers on Bourbon Street in New Orleans, police indicated that Wednesday night's College Football Playoff Sugar Bowl quarterfinal between Georgia and Notre Dame at the Superdome will go on as planned.
Harry Chandler, a Navy medic who helped pull injured sailors from the oily waters of Pearl Harbor after the 1941 Japanese attack on the naval base, has died. He was 103.
Witness described the horrifying scene after officials say a man intentionally drove a truck into a crowd on Bourbon Street in New Orleans early Wednesday, killing at least 10 people and injuring dozens more. The driver died after exchanging gunfire with police, the FBI said.