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A tax deduction known as SALT that helps affluent residents of high-tax states is standing in the way of President Donald Trump’s “big beautiful bill.”A small group of Republicans is fighting to raise or abolish the $10,000 cap on the amount of state and local taxes you can deduct from your federal return that was originally introduced in Trump’s 2017 tax law. Lifting that cap would allow high-earning taxpayers in states and cities with high taxes to cut down what they owe to the feds.”It is a Republican principle to allow hardworking taxpayers to keep more of their hard-earned money,”…

2025-05-18T08:08:03Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Americans are cutting back on salon visits due to rising costs from tariff policies. Gen Zers are visiting salons less, while millennials and Gen X are more likely to stop entirely, CivicScience reports. The beauty industry is set to grow at a fast pace over the next few years. From boba tea…

Paul and Diane Baxter didn’t know what to do with their 1,200 books, or the spare furniture and clothes they’d collected over 40 years of marriage.The retired couple was getting ready to downsize from a 1,800-square-foot three-bedroom house to a 1,200-square-foot single-floor townhome in a 55+ community just south of Portland, Oregon.”For the two or three years we’d been thinking about it, it was like, how are we going to get rid of all this stuff? What are we going to do?” said Paul, 70.Once they’d bought their new home earlier this year, those questions were suddenly urgent.The answer became…

Luke Nichols, the creator behind the popular YouTube channel, Outdoor Boys, is saying farewell to the nearly 15 million followers he’s garnered by posting videos of himself camping in desolate conditions.The father of three said in a five-minute video published Saturday titled “Goodbye” that he’s going to stop making content “for a little while” to spend more time with his family.Part of the reason, he said, was because of the amount of attention he has received as a result of the followers and viewers he’s gained just in the past year or so.Nichols started Outdoor Boys in 2015 and has…

A GOP congressman said on Saturday that raising the top tax rate for high earners could help President Donald Trump’s massive tax and immigration package get the votes it needs.”The One Big Beautiful Bill has stalled — and it needs wind in its sails,” Rep. Nick LaLota said on X. “Allowing the top tax rate to expire — returning from 37% to 39.6% for individuals earning over $609,350 and married couples earning over $731,200 — breathes $300 billion of new life into the effort.”LaLota said that his proposal would be fiscally prudent and could be done “without raising taxes on…

I began writing about food almost a decade ago, and as a restaurant reviewer, I frequently get to eat at incredible restaurants. Food is a passion of mine, but after becoming a solo parent, it didn’t make sense to spend so many evenings away from my young daughter, Via. I wondered — would it be possible to bring her into that world? When Via was a baby, I struggled to eat out with her, even at casual, family-friendly restaurants. It was hard for me to focus on anything other than her and the effects of any noise or mess she…

President Donald Trump said on Saturday that Walmart should “eat the tariffs” after the retail giant suggested it might have to raise prices amid the upheaval brought on by the president’s trade policies.”Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected,” Trump said on his Truth Social platform.”Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!” he added.Trump’s response came after Walmart CEO Doug McMillon…

This as-told-to essay is based on a conversation with Ryan Frankel, a 36-year-old business owner in Miami. It has been edited for length and clarity.My primary business is Thrift Vintage Fashion, which I launched in 2020 with my wife, Evelyn. We supply secondhand clothing — mostly men’s wear, such as T-shirts, sweatshirts, and denim — to stores nationwide. When Trump took office in January, our sales took a steep decline.Once he came into office, there was a lot of uncertainty. However, we noticed a significant incline once tariffs were announced in February. From February to March, we saw an unprecedented…

I wasn’t born into money. I live paycheck to paycheck on a $70,000 salary while paying off credit cards and college loans from 16 years ago. But still, I’m planning my dream wedding.I was incredibly surprised when my parents offered $5,000 for the wedding. My dad has an 8th-grade education, and my mom is an immigrant from Austria. They’ve worked hard to build themselves up and have done well for themselves, but they still pinch their pennies and avoid overspending.I’ve also never asked them for money. I’ve been working, in some capacity, since I was 14 and have always relied…

When tariffs on Chinese imports dropped from 145% to 30%, Connor Alexander hit print on a new board game that he’s publishing. If he’s lucky, the game will be ready to ship in 60 days and arrive in the US a couple weeks later.By that point, tariffs could be back up.”This pause on the tariffs doesn’t really help me. In fact, it just kind of terrifies me, because we’re in a situation where 90 days from now is the earliest my stuff could be hitting the port,” Alexander, a 54-year old board game publisher in Seattle, Washington, told Business Insider.…