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CBS News is the news and information division of CBS Corporation, dedicated to providing the highest quality journalism under standards it pioneered and continues to set in today’s digital age. Headquartered in the famed CBS Broadcast Center in New York, CBS News has bureaus across the globe and produces influential, critically acclaimed programs providing original reporting, interviews, investigations, analysis and breaking news 24 hours a day, seven days a week. CBS News provides news and information for the CBS Television Network, CBSN, CBSNews.com, CBS News Radio and CBS Mobile. CBS News is home to the nation’s #1 news program, 60 Minutes, the 24/7 digital streaming news network, CBSN, and the award-winning broadcasts CBS This Morning, CBS Evening News, 48 Hours, Face the Nation and CBS Sunday Morning.

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Some Americans could see lower federal income taxes in 2025 due to an annual bracket adjustment by the Internal Revenue Service. On the down side, this relief could be more modest than over the past two years. The IRS typically announces its new tax brackets each fall, but experts are already forecasting next year's adjustments by crunching the same inflation data the tax agency uses in its annual resets. Tax brackets and other provisions are likely to be adjusted higher by 2.8% for the 2025 tax year, according to Bloomberg Tax and financial information services provider Wolters Kluwer, which both published their forecasts earlier this month. That would mark the smallest inflation adjustment in at least three years, following a 5.4% increase in 2024 and a 7.1% boost in 2023.
The IRS will soon set its new 2025 tax brackets. Here's what to expect. cbsnews.com
Scammers often target house hunters, perceiving them to be easy targets because they are particularly eager for deals, given how large a share of one's income is allocated toward purchasing a home. In 2022, more than 40 million homebuyers and renters were cost-burdened in the U.S., given that they spent at least 30% of their income on housing, according to a CBS News analysis of U.S. Census Bureau data. At the same time, from 2018 to 2023, nearly 70,000 instances of real estate and home rental-related cybercrimes were reported to the the Federal Bureau of Investigation (FBI), resulting in roughly $1.4 billion in losses to consumers, according to a CBS News tally of figures from the FBI's Internet Crime Complaint Center. The data illustrates that scammers are increasingly targeting Americans during the homebuying process, and preying upon their hopes for some financial relief when purchasing.
Buying or renting a home? Be alert to these common scams. cbsnews.com
NASA’s “Hidden Figures” have been honored with the Congressional Gold Medal. Katherine Johnson, Dorothy Vaughan and Mary Jackson, who were honored posthumously, and Christine Darden were given Congress’ highest civilian honor on Wednesday. https://lnkd.in/eNwZ4XSP
In making its first interest rate cut in more than four years, the Federal Reserve went big — a decision that took some economists and policy experts by surprise, while also providing cheer to Wall Street and consumers eager for relief from high borrowing costs. Behind the Fed's decision to make a jumbo cut are its efforts to juggle its so-called "dual mandate" to maintain stable prices — in other words, to keep inflation low — and ensure full employment. But the cut also carries implications for the broader economy, as it will influence consumers' and businesses' decisions about everything from major purchases to saving. "The messaging from the Fed is inflation has slowed, and because of that we don't need rates at such high levels," Veronica Clark, an economist at Citi, told CBS News. "That will impact affordability for things like new homes, new cars or credit cards, and so the consumer will eventually feel the impact of lower rates." Here are 5 takeaways about Wednesday's jumbo cut.
The Fed just made a jumbo rate cut. Here are 5 takeaways on what it means for mortgages and more. cbsnews.com

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