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Economy

Americans would save $100B if credit card rates were capped as Trump proposed, researchers say

By KEN SWEET
Sep 06, 2025 12:09 pm - Americans would save roughly $100 billion a year in interest costs if President Donald Trump’s campaign proposal to cap credit card interest rates at 10% were implemented, according to a paper published by Vanderbilt University on Thursday.
Podcasters and influencers: The unexpected jobs covered under Trump’s ‘no tax on tips’ plan

By FATIMA HUSSEIN
Sep 04, 2025 1:09 pm - Golf caddies, blackjack dealers and house painters are among the jobs covered under the Trump administration's preliminary list of occupations not required to pay income tax on their tips under Republicans' new tax cuts and spending bill.
Illinois’ tourism push includes millions for NASCAR events

By Ben Szalinski
Sep 03, 2025 5:15 pm - Illinois has spent nearly $7 million to sponsor a Metro East NASCAR race and build a temporary track in Chicago since 2022. The expenditures are part of a broader state tourism campaign.
Trump’s tariffs remain unpopular, a warning sign for Republicans

By Paul Kane
Aug 30, 2025 1:38 pm - Four months after voters and financial markets recoiled at global trade wars, Wall Street and Main Street have taken sharply different views about President Donald Trump’s signature economic policy.
The Biz Week That Was: Mall transformation, suburbs’ best sandwich shop, and economy doing better than expected

Daily Herald report
Aug 30, 2025 1:10 pm - Next big step for Hawthorn Mall property redevelopment is waiting for green light to proceed The next big step in the ongoing transformation of the Hawthorn mall pro...
Blame high taxes, excessive regulations for businesses fleeing Illinois

By Matt Paprocki
Aug 30, 2025 12:45 pm - Illinois has a remarkable entrepreneurial spirit, but too many of our businesses don’t stay. In the past several years, companies including Takeda, Caterpillar, Highland Ventures and Tyson have all fled Illinois’ suburbs and moved their headquarters out of state.
US economy grows 3.3% in second quarter, government says, in second estimate of April-June growth

By PAUL WISEMAN
Aug 28, 2025 2:18 pm - The U.S. economy rebounded this spring from a first-quarter downturn due to fallout from President Donald Trump’s trade wars.
A US tariff exemption for small orders ends Friday. It’s a big deal to some shoppers and businesses

By MAE ANDERSON
Aug 27, 2025 10:07 am - Low-value imports are losing their duty-free status in the United States this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods and resetting global trade with tariffs.
Canada will match US tariff exemptions under USMCA trade pact, Prime Minister Carney says

By ROB GILLIES
Aug 22, 2025 1:40 pm - Canada is dropping retaliatory tariffs to match U.S. tariff exemptions for goods covered under the United States-Mexico-Canada trade pact, Prime Minister Mark Carney announced Friday.
Wall Street soars on hopes for lower interest rates as the Dow surges 846 points to a record

By STAN CHOE
Aug 22, 2025 1:31 pm - Wall Street rallied to its best day in months after the head of the Federal Reserve hinted that cuts to interest rates may be on the way. The S&P 500 leaped 1.5% Friday for its first gain in six days and finished just shy of its all-time high set last week. The Dow Jones Industrial Average soared 846 points to its own record after topping its prior high from December. The Nasdaq composite jumped 1.9%. Treasury yields tumbled in the bond market as traders upped their bets that the Fed will cut its main interest rate at its next meeting in September.

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