Current:Home > ContactThe Daily Money: Are you a family caregiver? Proposed tax credit could help. -TradeWise
The Daily Money: Are you a family caregiver? Proposed tax credit could help.
View
Date:2025-04-23 09:33:44
Good morning. It's Wednesday, and this is Betty Lin-Fisher with today's The Daily Money. I'm helping my colleague, Daniel de Visé, as he is covering the Federal Reserve today. We're watching to see what action the Fed might take with interest rates.
Are you among the 48 million Americans who are caring for your loved one at home?
Sixty-one of those family caregivers are also holding down a part-time or full-time job. Or trying. The toll financially and mentally is huge. They are doing everything from helping prepare meals and paying bills to assisting with medication and medical/nursing tasks. It's all to help parents, spouses and loved ones live independently in their homes.
A bill being introduced this morning by a group of bi-partisan Senators and members of the U.S. House of Representatives could offer some relief.
Here's how The Credit for Caring Act, if passed, would help caregivers.
What will happen to interest rates?
The Fed s expected to hold interest rates steady today at the end of its two-day meeting, leaving them perched at a 23-year high as the market ponders when the Fed might start cutting.
- The Fed’s decision will be announced at 2:00 p.m. ET today.
- Fed Chair Jerome Powell is expected to speak at 2:30 p.m. ET, following the central bank’s first meeting of the year.
- Powell’s remarks will likely give insight into whether the Fed will start cutting interest rates later in 2024, reducing borrowing costs for consumers as well as businesses.
If you want to keep up with what the Fed is doing today, check out our live coverage here.
📰 Consumer stories you shouldn't miss 📰
- What happens to your student-loan debt if you drop out?
- Travel stress is a real thing.
- Facebook and other CEOs will address child privacy on social media at a Senate hearing.
- A travel warning is issued for a popular Caribbean hotspot.
- The Stanley-insulated cup craze has now hit babies.
🍔 Today's Menu 🍔
Be on the lookout for a burgler on the roads! Well, really a Hamburglar. McDonald's Hamburglar mascot is going on a coast-to-coast road trip in his "Burgercuda" (a 1970 Plymouth Barracuda). If you spot it, you could win free merchandise or burgers for a year. Get the juicy details here.
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.
veryGood! (74)
Related
- US appeals court rejects Nasdaq’s diversity rules for company boards
- Are earthquakes happening more? What to know if you're worried and how to stay safe.
- 35 years later, Georgia authorities identify woman whose body was found in a dumpster
- Russia seeks to undermine election integrity worldwide, U.S. assessment says
- Trump invites nearly all federal workers to quit now, get paid through September
- Why is F1 second to none when it comes to inclusivity? Allow 'Mr. Diversity' to explain.
- 'Full of life:' 4-year-old boy killed by pit bull while playing in Detroit yard
- No fighting! NFL issues memo warning of 'significant' punishment for scuffles
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- A US watchdog says the Taliban are benefiting from international aid through ‘fraudulent’ NGOs
Ranking
- Where will Elmo go? HBO moves away from 'Sesame Street'
- In 'I Must Be Dreaming,' Roz Chast succeeds in engaging us with her dreams
- Theft of 2 million dimes from truckload of coins from US Mint leaves four facing federal charges
- UAW’s confrontational leader makes gains in strike talks, but some wonder: Has he reached too far?
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- Two men claim million-dollar prizes from New York Lottery, one from historic July 19 Powerball drawing
- ‘Superfog’ made of fog and marsh fire smoke blamed for traffic pileups, road closures in Louisiana
- Milwaukee comic shop looking to sell copy of first appearance of Spider-Man, book could go for $35K
Recommendation
Biden administration makes final diplomatic push for stability across a turbulent Mideast
Why is F1 second to none when it comes to inclusivity? Allow 'Mr. Diversity' to explain.
Pro-Palestinian activists occupy international court entry, demanding action against Israeli leader
35 years later, Georgia authorities identify woman whose body was found in a dumpster
Pregnant Kylie Kelce Shares Hilarious Question Her Daughter Asked Jason Kelce Amid Rising Fame
Detroit synagogue president found murdered outside her home
The vehicle has been found but the suspect still missing in the fatal shooting of a Maryland judge
'She just needed a chance': How a Florida mom fought to keep her daughter alive, and won