The Daily Money: Are they coming for my 401(k)?
Good morning! It's Daniel de Visé with your Daily Money.
Last month, two economists from opposing ideological camps published a research brief that argued Congress should halt the subsidies that allow people to make pre-tax contributions to retirement savings accounts: in other words, abolish the 401(k) and IRA.
Those tax benefits mostly favor the well-heeled, they said. Congress could use the savings, nearly $200 billion a year, to shore up Social Security.
Needless to say, their suggestion created a stir. Read the story.
New streaming service courts cord-cutting sports fans
And now, more on that new sports streaming service.
The joint venture from Fox, Disney's ESPN and Warner Bros. Discovery is a major-league play for sports fans who are cord-cutters and cord-nevers, meaning they no longer subscribe to a traditional pay-TV bundle or never did, Jessica Guynn reports.
The idea, according to Disney CEO Bob Iger, is to deliver a cheaper alternative to traditional cable for viewers who want to watch a full slate of sports. The typical "big bundle" cable television service runs upwards of $100 a month. This "skinny bundle" would be cheaper. How much cheaper, we don't know just yet. Read the story.
📰 More stories you shouldn't miss 📰
- Disney buys a stake in the firm that makes Fortnite
- Zillow launches listings for individual rooms
- Super Bowl party tips from Donna Kelce
- There is such a thing as cheap pet insurance
🍔 Today's Menu 🍔
Spicy Coke?!
Indeed. Coca-Cola announced Wednesday it is introducing a new permanent flavor to its lineup: "Coca-Cola Spiced." The first permanent Coke offering in three years is laced with flavors of raspberry and spice and comes in regular and zero-sugar variations, Saman Shafiq reports.
"It’s Coca-Cola, only spiced," Coke says of the new flavor. Huh. Maybe on a really cold day? Read the story.
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.
Daniel de Visé covers personal finance for USA Today.
