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Tax tips for buying or selling a home in 2025

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Did you buy or sell a home in 2025? There’s a lot to consider, especially if you’re a first-time buyer or seller. There are also many changes to tax laws and other financial issues throughout the year, so even non-novices may need a refresher. Keep reading for all kinds of considerations, no matter which side of the deal you’re on in 2025.

2025 tax tips for buying a home

If you bought your first home with a mortgage during 2025, you’ll likely have your taxes in hand at tax time. Unlike rent, mortgage interest and property taxes are generally deductible. And with major tax reforms signed into law this summer, you may be able to take advantage of itemizing your expenses rather than relying on the standard deduction.

The standard deduction in 2025 will be $15,750 for single filers, but $31,500 for joint filers, said Daniel Schomper, wealth manager at Fairway Wealth Management in Independence, Ohio. If you accumulate more tax-deductible expenses over the year, you may want to itemize them.

The White House’s signature tax, spending, and policy bill, widely known as the “One Big Beautiful Bill Act,” increased the amount of state and local taxes that can be deducted from federal income taxes to $40,000. (However, the limit is lower for taxpayers with higher incomes.)

Mortgage interest is also deductible up to $750,000, and mortgage insurance premiums, also known as “private mortgage insurance,” are also deductible.

Whether you’re making your first purchase or your third or fourth time, perhaps the most important thing to keep in mind is maintaining a good record for profitability in 2025 and beyond.

“I want to emphasize how important it is to preserve records,” Shomper says.

This applies to the documents you receive at closing for both home purchases and mortgages. But you should also get into the habit of saving everything related to home improvements, says Vance Barth, founder of national financial advisory firm Your Ddedated Fiduciary.

That’s because when you’re ready to sell your home in the future, you may be able to reduce the amount of capital gains tax you owe by showing that you spent money on applicable improvements.

What qualifies from an IRS perspective?Upgrades that significantly improve the structure and integrity of a home and make it more modern or more livable. Repairs due to normal wear and tear do not count. Consider replacing your roof rather than repairing it, suggests Shomper. The IRS also has this helpful explanation.

2025 tax tips if you sell your home

If you sold a home during 2025, especially one you’ve owned for a while, you may have come away with a lot of cash. Fortunately, homeowners have the right to exempt capital gains from a sale, Barth says.

Single filers can exclude up to $250,000, while taxpayers filing jointly can exclude up to $500,000. Exclusions have some limitations. For example, you must have lived in the home for two consecutive years in the past five years.

However, if you live in your home for a long time, you can easily exceed that amount. In these cases, Barse points out, it’s helpful to be able to show that you’ve made capital improvements. He advises getting into the habit of documenting all upgrades as they occur so you don’t forget anything or have to track down old expenses years later.

Another thing to keep in mind is that unlike assets such as stocks, capital losses that occur when you sell your home will not be applied to your taxes in any way.

Who is Zoran Mamdani’s wife Rama Dhwaj?

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Illustrator Rama Dwaj, who is married to Zoran Mamdani of New York City, has a deft approach to the role of political spouse. It represents a change in bipartisanship in America.

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New York City’s first lady, Rama Dowaj, chose a fashion outlet over Condé Nast’s Vogue or the New York Times and decided to introduce herself to Americans with The Cut.

The artist, who is married to New York Mayor Zoran Mamdani, wore a structured black jacket by French label Jacquemus for the magazine’s special cover featuring his illustrations.

The 28-year-old expressed her desire to be seen for who she is, outside of the traditional confines of a marriage of convenience, amid a bipartisan shift in marriages in America.

First lady Melania Trump and second daughter Usha Vance are among the political partners who have adopted Mr. Duwaj’s deft approach, refusing most public appearances and limiting media interviews. Duwaji only participated in The Cut productions.

“I never necessarily dreamed or had a very ideal scenario of what marriage would be like. Even the word wife “It’s a very intense feeling,” she told the magazine, “and I just feel like I’m a forever girlfriend.”

A week after the article was published, Dowaj became America’s best-known “forever girlfriend.”

During Mamdani’s oath of office shortly after midnight on New Year’s Day, she held two Qurans in her hand and wore a minimalist black coat, a knee-length black dress or skirt, black ankle boots, and gold sculptural earrings.

“I had a romantic picture of America in my head”: Childhood across the ocean

Born in Houston, Duwaj’s family later moved to New York and then to the New Jersey suburbs, where he lived a life of cul-de-sac. “I grew up hearing everything my parents went through,” she told The Cut about her family’s experiences during 9/11. “My mother is hijabi. My father had to shave.”

Her family moved to Dubai in 2007, but her memories of New York never faded. “I loved America from a young age, so I had a romantic picture of America in my head,” Dowaj said. “Dubai never completely felt like home.”

After transferring from Virginia Commonwealth University’s campus in Qatar, he transferred to the university’s main campus.

By his senior year of high school, Dowaj had clients and commissions, and he went on to attract the attention of Vice Arabia, Spotify Arabia, and the BBC. She graduated from VCU in 2019 and spent time on artist residencies in Dubai and Paris. Eventually, she returned to New York in March 2021.

Dwaj met the then-state representative on the dating app Hinge that same year.

“I was kind of having a hot summer for girls,” Dowaj told The Cut, citing a phrase popularized by rapper Megan Thee Stallion. “We didn’t necessarily expect it to happen so quickly, but we were very pleasantly surprised at how well it turned out.”

Zoran Mamdani says Dhwaj is ‘not just my wife’

Mamdani began his campaign to lead the country’s largest city in October 2024, rising from front-runner to Democratic candidate. “We talked about how to get through this situation as a team,” Dowaj said. “I felt like he really valued my opinion and support.”

After speculation spread online that Mamdani was protecting or hiding his wife, the candidate responded with a social media post on May 12, sharing photos from the couple’s wedding. “Rama is more than just my wife. She is a great artist who deserves to be known on her own terms,” ​​Mamdani said. “You can criticize my opinion, but you can’t criticize my family.”

Mamdani and Duwaj walked hand in hand to a polling place in Queens on election day, and reporters captured footage of them holding hands. in love.

That night, Ms. Dowaj stood by as the 34-year-old Democratic Socialist gave his victory speech to a raucous crowd of supporters in Brooklyn. Two days later, on November 6, she posted a black and white illustration of a skyline on Instagram with the words “I LOVE U NYC.” “So proud to be a part of this city,” Duwaj captioned the post.

Since then, Mamdani has garnered national attention, attention from his own party and praise from President Donald Trump. So is Duwaj. Then The Cut article and the midnight oath. Mamdani will be introduced by Rep. Alexandria Ocasio-Cortez and will join progressive Sen. Bernie Sanders in a traditional inauguration ceremony outside City Hall on Jan. 1.

On New Year’s Day, Duwaj will stand by his side.

As her own person. “Zoran Mandani’s Wife” is not the only one.

Contributor: Taijuan Moorman

See photos from Mar-a-Lago’s New Year’s Eve party with Trump’s family

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Every year, President Donald Trump’s Mar-a-Lago club in Palm Beach, Florida, hosts a glamorous New Year’s Eve party. See photos of Melania and Barron Trump over the years.

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President Donald Trump’s New Year’s Eve celebration at Mar-a-Lago is a hotspot with politicians and celebrities counting down to midnight.

Even before Trump was elected president, the party was a highlight of Palm Beach, Florida’s social season. Previous notable guests have included Tiger Woods, Martha Stewart, Serena Williams, Rod Stewart, Regis Philbin, Steve Wynn, and Sylvester Stallone. Many of Trump’s extended family members also typically attend.

But since President Trump took office, the gala has become a red carpet event in its own right, garnering national attention, with the president often stopping to answer questions on his way in with first lady Melania Trump.

Take a look back at the 2025 New Year’s Eve party at Mar-a-Lago and photos from previous celebrations.

See photos from previous NYE ​​parties held in Mar-a-Lago, Florida

Contributors: Antonio Fins and John Bisognano, Palm Beach Post

Kinsey Crowley is a Trump Connect reporter for the USA TODAY Network. Please contact KCrowley@usatodayco.com. follow her X (Twitter), blue sky and TikTok.

Saving for retirement? Do this now to get the most out of your money later

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Take these steps before the year begins.

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The start of a new year is the perfect time to set financial goals and think about what you want to accomplish in the next 365 days. And you might have some lofty goals in mind for 2026.

Perhaps this is the year you buy a house or pay off your debts. Or maybe this is the year to make a big jump in your retirement savings.

If you want 2026 to be the year you make big strides in your IRA or 401(k), there’s one important action you should take. And you should make it right away.

Take advantage of incoming pay increases

It is common for salaries to increase with the arrival of a new year. If you get a raise in 2026, one of the best things you can do with that money is to immediately transfer it to your IRA or 401(k) plan.

why are you in a hurry? When a raise hits your paycheck, you might want to spend that money on things that make your life a little more fulfilling, like a subscription service or new apparel.

That’s completely understandable. But once you get used to a bigger paycheck, it may be harder to part with that money to save for retirement.

That’s why it’s best to automate large contributions to your retirement savings from the beginning. If you participate in a 401(k) plan at work, let your payroll department know that you’d like to increase your savings rate. If you have an IRA, set up automatic monthly contributions that reflect the amount you’d receive from a raise.

The key is to remove temptation from the table in the first place. Even if you’re not used to having extra money, don’t overlook it.

More ways to maximize your retirement savings in 2026

Banking your raise is a great way to ensure your retirement savings are in the right place in 2026, but it’s not the only thing you should do in an IRA or 401(k).

First, if you have a 401(k), find out which workplace matches you’re eligible for this year. And find a way to get that full amount so you don’t give up your free money in retirement.

Your raise may increase your contribution rate enough to claim a full 401(k) match. But if that’s not the case, you’ll want to use other strategies to land the perfect match, such as cutting back on expenses or considering a side hustle to increase your income.

You don’t want to give up on an employer match, because not only will you lose your original 401(k) withdrawals, but you’ll also lose the opportunity to invest and grow those funds.

Speaking of investing, the start of a new year is the perfect time to evaluate your portfolio and see if it’s working well for you. If you have an IRA and own individual stocks in that account, make sure your portfolio is balanced.

It’s possible that your particular stock will rise significantly in value in 2025 and now make up a large portion of your portfolio. In that case, you may need to adjust the balance to avoid investing too much in any one company.

If you have a 401(k), be aware of the investment fees you’re paying. Unlike an IRA, a 401(k) is typically restricted to a variety of funds rather than individual stocks. If you’re losing a lot of money to fees, you might want to shift away from actively managed mutual funds or target-date funds and try a low-cost broad market index fund instead.

Pay close attention to your retirement accounts

As the new year begins, it’s easy to get caught up in our busy lives. So it’s important to spend some time managing your retirement accounts early on.

If you’re getting a raise, this year is a great time to increase your savings rate. In addition to that, it’s a good time to make sure your portfolio is in place and that you’re set up to earn all the free 401(k) dollars your employer is willing to give you.

The Motley Fool has a disclosure policy.

The Motley Fool is a USA TODAY content partner providing financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY.

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President Trump postpones tariffs on furniture, cabinets, vanities

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In his second term, President Trump has raised tariffs on a variety of products and touted the revenue those products generate.

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President Donald Trump is delaying increased tariffs on upholstered furniture, kitchen cabinets and vanities amid growing concerns about affordability.

President Trump announced a 25% tariff on these products in September, which was scheduled to rise to 30% on furniture and 50% on kitchen cabinets and vanities on January 1st. The White House announced the delay on December 31st, delaying the tariff hike until 2027.

President Trump has raised tariffs on a variety of products during his second term and has touted the revenue those products generate, including in comments he gave at a New Year’s Eve party at his Mar-a-Lago club.

“We introduced hundreds of billions of dollars in tariffs,” Trump told partygoers.

But affordability remains a major concern for many Americans. Democrats took advantage of consumer cost fears to win consecutive elections last year. The tariff delay means any increases will be delayed until after the midterm elections, which are expected to revolve around cost of living issues.

Economists have warned that the tariffs could lead to higher inflation, which hit 3% in September but fell to 2.7% in November.

Dry January has arrived, but Gen Z is already exploring sobriety

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Physical and mental health, social media, economic hardship, and marijuana laws are some of the factors that lead Gen Z to become sober.

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The new year brings countless resolutions. For some, it starts with Dry January, a month-long challenge of no alcohol consumption.

But the new generation may not need such a challenge at all. They are no longer drinking alcohol.

Many young people are turning away from alcohol completely, choosing sobriety as a lifestyle rather than a 30-day commitment.

Sierra Boone, 25, has been sober for almost three years. Her sobriety is woven into a larger trend. Generation Z, those born between 1997 and 2012, did not drink alcohol and are currently not drinking alcohol. Global research firm Gallup reported that from 2001 to 2023, the percentage of adults ages 18 to 34 who had at least one alcoholic beverage in the past week decreased by 11%.

“I don’t think this is a temporary thing at this point. In fact, I think this trend will continue to grow,” Dr. Jared Harp, an addiction psychiatrist at the Cleveland Clinic, told USA TODAY.

Boone, who first drank alcohol as a teenager, told USA TODAY that for years alcohol was a form of escapism. Coming from a family struggling with addiction and mental illness, she has chosen a different path.

Boone, who lives in Cooter, Missouri, told USA TODAY, “I think my liver is probably happier, and honestly, it’s brought me closer to people that I had grown distant from while my alcoholism was progressing.” “It made me feel more grounded…and honestly, it brought me closer to God. That’s the biggest benefit of this for me.”

Harp said younger adults have been found to be more intentional about their alcohol consumption than older generations.

“I think Dry January gives everyone a glimpse into what their own drinking orientation and consciousness is like,” he said.

Why are Gen Z drinking less?

There are several explanations for why young people are drinking less.

One reason for that is that Gen Z is more conscious of their physical and mental health, Dr. Joseph Volpicelli, founder of the Volpicelli Addiction Treatment Center in Pennsylvania, told USA TODAY.

A 2024 study conducted by strategy and management consultancy McKinsey & Company found that 56% of Gen Z consider fitness a “very high priority,” compared to 40% of other U.S. adults.

Perhaps the main reason Boone stopped drinking is because she started prioritizing her mental health, a trait shared by many Gen Zers.

According to a 2018 study by the American Psychological Association, 37% of Gen Z are more likely to receive mental health support, such as therapy, compared to 35% of Millennials, 26% of Gen Z, and 22% of Baby Boomers.

For young people in particular who are making health a priority heading into the new year, Volpicelli said Dry January provides a 30-day reset that may help you sleep better, lose a few pounds and feel less anxious.

Impact of technology and social media

Social media presence is also influencing Gen Z’s sobriety.

Volpicelli, who has a 17-year-old granddaughter, said her social experience is different than in high school. When he was a teenager, parties revolved around beer kegs, he says, but that’s not necessarily the case anymore.

Volpicelli, 72, said her granddaughter and other young people she meets at the treatment center are spending more time together virtually, and alcohol is no longer the focus of their gatherings.

Research supports this. In 1991, 64.4% of high school seniors said they had consumed alcohol at least once in their life, but by 2024, only 33% of high school seniors will report doing so, according to Dutch research firm Rabo Research. And what about dip? Lab Research found that around 2012, smartphones became an integral part of teenagers’ lives.

restore social prejudice

Another example of cutting down on alcohol consumption: Prejudice against drinking seems to change when young people are present, says Dr. Harp of the Cleveland Clinic.

“If someone hadn’t had a drink in a long time…at least they would have felt like, ‘Why are people questioning why I don’t drink?'” Harp said. “But when it comes to cigarettes, no one asks, and very rarely does, anyone asks, ‘Why don’t they smoke?’ We all kind of understand that smoking has health effects, and I think we tend to look at alcohol in much the same way. It’s like, ‘Oh, drinking might not be the healthiest thing, so it kind of makes sense for them to stop drinking.’ ”

Guinevere Goodwin, 27, of Springfield, Missouri, previously worked in the bar industry for three years and agreed that mindsets are changing.

“I actually think this is something to be celebrated in this industry because there are so many former service workers who have had to fight so hard to get sober,” she said.

Goodwin himself has taken a step back from alcohol in recent months. She said she is now able to connect more clearly with friends and enjoy feeling more herself when she goes out.

Money is tight and alcohol is expensive.

Economic hardship also plays a role in Gen Z’s abstinence.

According to a 2025 study from Bank of American, 33% of Gen Z are worried about their finances, and 52% of them say economic instability is the root cause. To stabilize their lives, around 64% of those surveyed said they were focusing on cutting back on expenses, including eating out.

Ten years ago, households headed by adults over 30 spent 1.1% of their income on alcohol. This number is now closer to 0.74%, Rabo Research reported this year.

Ms Goodwin said the financial burden of drinking regularly was difficult for her. Between a few bottles of wine a week and eating out, she was spending about $200 a month on alcohol.

legalization of marijuana

Another reason Gen Z is turning away from alcohol is that they’re seeking other types of highs.

As marijuana becomes legal in more parts of the country for medical and recreational purposes, it has become a leading cause of Gen Z abstinence. Boone said marijuana helped ease the transition.

According to a survey conducted by cannabis industry data hub New Frontier Data, 69% of adults ages 18 to 24 said they would prefer marijuana to alcohol in 2022.

According to DISA Global Solutions, as of December 2025, 40 states have legalized medical marijuana and more than 20 states have legalized recreational marijuana.

Binge drinking remains a problem

Cleveland Clinic’s Harp said Gen Z may be consuming less alcohol, but binge drinking, which involves consuming large amounts of alcohol in a short period of time, remains a widespread problem. According to the National Institute on Alcohol Abuse and Alcoholism, for the average adult, binge drinking is considered four to five drinks within two hours.

According to the 2024 National Survey on Drug Use and Health, 21.7% of U.S. adults ages 18 and older reported binge drinking in the past month.

Give yourself grace in this dry January

Are you sober and curious? Dry January can be a healthy way to assess your alcohol intake. Learn more about the challenges and tips for success.

“I like to look at ‘Dry January’ not as a morality play, but as a 30-day experiment to see how I feel. The goal is not to be perfect. The goal is to be informed,” Volpicelli said. “If you’re finding it difficult to control your drinking during Dry January, it’s important to reach out and ask for help.”

Anyone struggling with alcohol addiction can contact the Substance Abuse and Mental Health Services Administration toll-free by calling 1-800-662-4357 or texting ZIP code 435748.

Greta Cross is USA TODAY’s national trends reporter. Story ideas? Email her at gcross@usatoday.com.

40 killed, 100 injured in Swiss ski resort bar explosion, police say

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Lens, Switzerland – An explosion in a crowded bar during a New Year’s Eve party in the luxury ski resort of Crans-Montana killed around 40 people and injured 100, most seriously, Swiss authorities said on Thursday, January 1.

The fire broke out at 1:30 a.m. at Le Constellation, a bar in a resort area in southwestern Switzerland. The cause of the explosion is unknown, but authorities said it appeared to be an accident.

“At the moment we consider this to be a fire and do not consider the possibility of an attack,” prosecutor Beatrice Piloudo told a news conference, adding that authorities had launched a full-scale investigation.

Valais security chief Stéphane Ganser said some of the victims were from other countries. The state’s police chief, Frederick Gisler, said a helpline had been set up for relatives.

“We cannot hide the fact that we are all shaken by what happened overnight in the Klans,” Gisler told a news conference.

“There are approximately 100 injured, the most seriously injured, but unfortunately dozens are estimated to have died,” he said, adding that patients were taken to hospitals in Sion, Lausanne, Geneva and Zurich.

Italy’s Ministry of Foreign Affairs said information from Swiss police said about 40 people had been killed, but Gisler declined to give specific numbers.

Earlier, police said a number of people were being treated for burns and a no-fly zone had been established over Crans-Montana, with the area completely cordoned off. Authorities said 10 helicopters and 40 ambulances were dispatched.

“On the first day of the new year in Crans-Montana, what was supposed to be a moment of joy turned into sadness that touched the whole country and far away,” Swiss President Guy Palmerin said on the X program, expressing his condolences.

Prosecutor Piroud said authorities were trying to release the victims’ bodies to their families.

“Many resources are being devoted to forensic science to identify victims. These resources are aimed at allowing bodies to be returned to their families as quickly as possible,” she said.

Italian Foreign Minister Antonio Tajani said the fire may have been caused by fireworks.

“It appears to have been an accident caused by a fire, an explosion or firecrackers thrown during New Year’s celebrations,” he told Italian television station Sky TG24.

(Additional reporting by Dave Graham in Zurich and Shivani Tanna in Bengaluru; Editing by Neil Flick, Gareth Jones and Philippa Fletcher)

President Trump promotes economy and auction paintings at Mar-a-Lago New Year’s gala

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The president then presided over a $2.75 million auction of a painting of the face of Jesus Christ by artist Vanessa Horabuena.

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A wish for “world peace,” support for tariffs and a $2.75 million donation for a painting of Jesus capped off President Donald Trump’s extravagant New Year’s Eve celebration at Mar-a-Lago.

The president arrived just before 9 p.m., accompanied by first lady Melania Trump in a sparkling silver full-length dress, to the aptly named Donald J. Trump ballroom at the Palm Beach club he has owned for 40 years. The first couple walked on a black carpet with the words “Happy New Year, Mar-a-Lago” written in gold letters and stopped in front of reporters.

Asked what his New Year’s resolution was, the president said “world peace,” but then ignored questions about the CIA attack on a coastal facility in Venezuela that was reported earlier this week and possible U.S. military involvement in Ukraine.

On stage, the president praised the country’s management during the first 11 months of his nonconsecutive second term.

“We’re receiving hundreds of millions of dollars in tariffs,” the president said, reiterating his promise to provide $1,776 checks to military personnel. “We’re doing well as a country. We’re back. We’re strong. I didn’t think it would happen this quickly. It’s happening faster than anyone thought.”

President Trump’s former legal adviser Rudy Giuliani and Homeland Security Secretary Kristi Noem were in attendance.

The president then presided over an auction of a painting of the face of Jesus Christ by artist Vanessa Horabuena. President Trump said the proceeds would go to St. Jude Children’s Hospital and the sheriff’s department, but he did not say whether it was the Palm Beach Sheriff’s Department.

The president started bidding at $100,000, but no bids were subsequently made.

When one bidder offered $1 million, Trump responded, “He’s the biggest guy on Wall Street.”

The painting sold for $2.75 million.

The night featured an eclectic, if not random, stream of consciousness conversation after President Trump’s active day on social media.

The president fired more than a dozen posts, including one that called Minnesota Gov. Tim Walz “crooked” and claimed that 90% of the alleged fraud in the state was committed by “people who entered the country illegally from Somalia.” Still, Trump also predicted that there would be “more fraud in California” than in Minnesota.

Regarding the Golden State, the president also claimed that “California and Colorado are two of the most popular states in 2025” for people looking to move to other states.

President Trump accused Democrats of being “a bunch of crooks and thieves” in a post calling for voter identification. And he called on Republican lawmakers to “defund Fat Cat Insurance Company no more.”

The president also said that his administration’s tariff policies have “uniquely” set a “world record for investment,” totaling “trillions of dollars more” than what China has earned.

President Trump praised the “great job” of the Border Patrol and said he was “very proud that more than half of them are Hispanic.”

“There is no organization I am more proud of than Border Patrol and ICE, and no one understands the border more than our amazing Hispanic people who want to make America great again,” Trump wrote.

The president also posted that he would “remove the National Guard from Chicago, Los Angeles, and Portland.”

“We will be back when crime starts surging again, perhaps in a much different and more powerful form – it’s only a matter of time!” he wrote.

Antonio Fins is the politics and business editor for The Palm Beach Post, part of the USA TODAY Florida Network. Please contact us at afins@pbpost.com. Please support our journalism. Subscribe now.

Social media reacts to Hurricanes come-from-behind victory

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The Cardiac Canes advance to the College Football Playoff.

A dominant first half from Carson Beck, Akhim Mesidor, Ruben Bain Jr. and Co. led No. 10 Miami Football to defeat No. 2 seed Ohio State 24-14 in the CFP Cotton Bowl quarterfinals at AT&T Stadium in Arlington, Texas, on Wednesday, Dec. 31, for the second upset of the postseason.

With Ohio State’s loss, the team that received a first-round bye is now 0-5 in two rounds of the 12-team playoff, with three more games to be played on January 1st.

After Ohio State made it a one-possession game with a 14-yard touchdown pass from Julian Sane to Jeremiah Smith in the third quarter, the Hurricanes clinched a spot in the CFP semifinals with a defensive stop, Chalmer Brown’s 5-yard rushing touchdown and Jacoby Thomas interception in the final six minutes of the fourth quarter.

Considering the Hurricanes’ overall performance and the defending national champions being eliminated after just one game, college football social media did not hold back in reacting to the outcome of the CFP Cotton Bowl quarterfinals.

Excerpts from these responses follow:

College football reaction to Miami defeating Ohio State in CFP Cotton Bowl:

Here’s what social media looked like after Miami’s win over Ohio State in the CFP Cotton Bowl quarterfinals.

2026 Social Security Payment Schedule. Check out our 12 month calendar.

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With the arrival of the new year, Social Security payments are subject to cost of living adjustments (COLAs).

According to the Social Security Administration, the January payment for Social Security recipients will be 2.8%, or an average of $56 per month, and will go primarily to elderly or retired recipients.

It is also expected to increase by 2.8%. These are people who have a qualifying disability, have limited means, or who receive Supplemental Security Income (SSI), which provides benefits to people age 65 and older.

According to the SSA, approximately 71 million Americans receive Social Security and 7.4 million receive SSI.

Social Security changes for 2026

A 2.8% COLA does not necessarily translate into more money for beneficiaries. This is because the 2.8% increase will be reduced by the 2026 Medicare premium increase.

The standard monthly premium for Medicare Part B will increase by $17.90 per month to $202.90, according to the Centers for Medicare and Medicaid Services. Many beneficiaries have their Medicare premiums deducted from their Social Security checks, which directly puts pressure on their COLA.

The maximum benefits paid by Social Security will also increase. In 2026, the maximum monthly benefit at full retirement age increases from $4,018 to $4,152. People who wait until age 70 to collect Social Security may be eligible for the highest benefit of $5,251 in 2026.

2026 Social Security Payment Schedule

Social Security recipients who began receiving benefits before May 1997 will be paid on January 3, while all other recipients will be paid on Wednesday of each month. Payments are made on the second Wednesday of each month for beneficiaries whose birthday falls between the 1st and 10th of the month, according to the Social Security Administration’s calendar.

According to the SSA calendar, those born between the 11th and 20th are paid on the third Wednesday of the month, and those born after the 20th are paid on the fourth Wednesday of the month.

The full Social Security and SSI payment schedule for 2026 is as follows:

Mike Snyder is a national trends news reporter for USA TODAY. You can follow him on Threads, Bluesky, and X, and email him at: mike snyder & @mikegsnider.bsky.social & @mikesnider & msnider@usatoday.com.

New York City Mayor Zoran Mamdani takes office

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The 34-year-old Democratic Socialist’s oath and party bloc underscore his previously unlikely rise to become the city’s 112th mayor.

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Zoran Mamdani’s fourth term as mayor of America’s largest city begins on January 1 with a seven-block street party and a guest appearance at the left-wing inauguration.

The 34-year-old Democratic Socialist will be sworn in by Sen. Bernie Sanders outside City Hall after being introduced by Rep. Alexandria Ocasio-Cortez.

Mamdani is the 112th person to lead the country’s largest city, but the first Muslim and first of South Asian descent.

In 2025, Mamdani surprised the political world by first defeating former Gov. Andrew Cuomo in the Democratic primary and then winning again in the general election in November. He ran on a progressive platform that addresses issues of affordability, reshaping the mayor’s race to resonate with Republican President Donald Trump in the White House.

Mamdani succeeds Mayor Eric Adams, whose first term government was mired in corruption scandals.

Here’s what you need to know about Mamdani’s inauguration.

When will Mamdani take office?

Shortly after midnight on New Year’s Day, New York Attorney General Letitia James administered the oath of office to Mamdani in a small gathering with his family.

At 1 p.m., fellow Democratic Socialist and Brooklyn native Sanders, Vt., will be sworn in at Mamdani in a public ceremony on the steps of New York City Hall in lower Manhattan. City Auditor Mark Levine and Public Hearing Officer Jumaane Williams will also be sworn in.

A public block party will follow the ceremony.

Will Starbucks be open on New Year’s Day in 2026? What you need to know about time

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A new year is approaching. A cup of coffee might be all you need to start 2026.

Starbucks is definitely an option. Starbucks business hours on New Year’s Day vary by store. The company recommends customers contact their local office to confirm specific holiday hours.

You can check a specific store’s opening hours using the Starbucks app or here.

What restaurants are open on New Year’s Day?

Click here for a list of restaurants scheduled to hold events. open Business hours are listed in the provider’s list. If a chain store does not have business hours listed, these are normal business hours.

Business hours for many restaurant chains vary by location, so we recommend checking online or calling your local location to confirm hours.

  • mcdonalds
  • dunkin
  • Chick-fil-A: Some stores may have reduced hours
  • chipotle pepper
  • Popeye
  • bojangles
  • hippopotamus
  • burger king
  • whataburger
  • Shake Shack: Some locations may have reduced hours.
  • Freddy’s Frozen Custard & Steakburger
  • zaxby’s
  • wendy’s
  • subway
  • fire department submarine
  • Hardy’s
  • Carl’s Jr.
  • panera bread
  • cracker barrel
  • ihop
  • waffle house
  • krispy kreme
  • Outback Steakhouse
  • Carraba’s Italian Grill
  • bonefish grill
  • texas roadhouse
  • apple bees
  • hooters
  • red lobster
  • Maggiano’s: 11 a.m. to 10 p.m.
  • Fogo de Chao: 11 a.m. to 10 p.m.
  • Chili’s
  • First viewing

Gabe Hauari is USA TODAY’s national trends news reporter. You can follow him at X @gabehauari Or email Gdhauari@gannett.com.

Will Target be open on New Year’s Day 2026? What you need to know about the hours

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A new year has arrived and many of us are looking to fulfill our 2026 to-do lists and resolutions.

If that means doing the shopping for you, you’re in luck. Most grocery stores, retail stores, and restaurant chains will remain open on New Year’s Day, although some chains have adjusted their business hours. Banks, post offices, and stock markets are closed on public holidays.

But Target would definitely be an option. A company spokesperson told USA TODAY that stores will remain open as usual on New Year’s Day.

Which grocery stores are open on New Year’s Day?

Click here for a list of grocery stores scheduled to open stores. open is January 1st.

  • Walmart: 6 a.m. to 11 p.m.
  • BJ’s Wholesale: 9 a.m. to 7 p.m.
  • Kroger family of stores. The Kroger family of stores includes Baker’s, City Market, Dillons, Food 4 Less, Foods Co, Fred Meyer, Fry’s, Gerbes, Jay C Food Store, King Soopers, Kroger, Mariano’s, Metro Market, Pay-Less Super Markets, Pick’n Save, QFC, Ralphs, Ruler and Smith’s Food and Drug.
  • Food Lion regular business hours
  • Publix: Most stores close at 7 p.m. Atlanta and Charlotte stores close at 8 p.m.
  • Meyer: 6 a.m. to midnight.
  • Whole Foods: 9 a.m. to 8 p.m.
  • Harris Teeter: Regular business hours
  • Wegmans: Regular business hours
  • Winn-Dixie: Regular business hours
  • Harvey: Regular business hours
  • Giant Eagle: Closes at 5 p.m.
  • Lidl stores in New York will be open from 10 a.m. to 5 p.m.

All Costco, Sam’s Club, Trader Joe’s, Aldi, and Lidl locations outside New York closed On New Year’s Day.

Which retail stores are open on New Year’s Day?

The following retail stores will be available. open is January 1st.

  • Kohl’s: 10 a.m. to 8 p.m.
  • TJ Maxx: 9:30 a.m. to 6 p.m.
  • Home Goods: 9:30 a.m. to 6 p.m.
  • Marshalls: 9:30 a.m. to 6:00 p.m.
  • Best Buy: 10 a.m. to 8 p.m.
  • Macy’s: Regular business hours
  • JC Penney: Opens at 11 a.m. Closing times vary by store
  • Nordstrom: Regular business hours
  • American Eagle: 11 a.m. to 8 p.m.
  • Sephora: Hours vary by location
  • Victoria’s Secret: Hours vary by location
  • Home Depot: 9 a.m. to 8 p.m.
  • Lowe’s: 9 a.m. to 6 p.m.
  • Ace Hardware: Hours vary by location
  • REI: 11 a.m. to 5 p.m.
  • Bass Pro Shop: 9 a.m. to 9 p.m.
  • Cabela’s: 9 a.m. to 9 p.m.
  • Berg: 10 a.m. to 7 p.m.
  • Sephora: Hours vary by location
  • IKEA: Regular business hours
  • Staples: 10 a.m. to 6 p.m.
  • Office Depot: 11 a.m. to 6 p.m.
  • Office Max: 11 a.m. to 6 p.m.
  • PetSmart: 10 a.m. to 6 p.m.
  • Petco: Closes at 8 p.m.
  • Tractor Supply Co.: 9 a.m. to 6 p.m.

Gabe Hauari is USA TODAY’s national trends news reporter. You can follow him at X @gabehauari Or email Gdhauari@gannett.com.

Sprinkles will close all cupcake shops, former owner says.

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California-based cupcake chain Sprinkles will permanently close all of its stores, according to the company’s founder and former owner.

Candace Nelson announced the chain’s store closures on Wednesday, Dec. 31, in a social media post that read, “Today is the last day at Sprinkles.”

The caption of Nelson’s post said, “We are deeply grateful to our fans, customers, and community for coming out and celebrating with us and making Sprinkles a part of our tradition, and to the team that made it all happen. We will always be proud of what we have built.” “My heart is with the Sprinkles employees today.”

Nelson said she started Sprinkles in 2005 with nothing but “a KitchenAid mixer and a big idea.” Since then, the company has expanded across the United States, including Arizona, Florida, Nevada, Texas, Utah, and Washington, DC.

As Sprinkles expanded, it introduced Cupcake ATMs, which are 24/7 vending machines that allow customers to purchase cupcakes and sometimes cookies even after business hours.

The Sprinkles store closures came after Nelson sold the business in 2012, according to her social media posts. KarpReilly, LLC, a private equity firm, announced its investment in Sprinkles in January 2013.

“It’s surreal to see this chapter come to an end, and the way the story unfolded was not what I imagined,” Nelson wrote in the post.

Why is Sprinkles closing?

Nelson offered no insight into why Sprinkles might close stores, but said she has “no ownership or operational involvement in the company.”

Sprinkles is a private company, so it is not required to publicly disclose its financials, including revenue. According to the Sprinkles website, the chain has 21 stores and 25 cupcake ATMs.

USA TODAY reached out to Sprinkles and KarpReilly on Wednesday, Dec. 31, but did not receive a response.

Sprinkles customers share stories ahead of potential closure

In his post, Nelson asked customers to share “stories about how Sprinkles Cupcakes added a little sweetness, comfort, or connection to (their) lives.”

Dr. Chantal Landerville, a California board-certified physician, commented under Nelson’s post: “Our snack after a long day of studying in medical school was sprinkles, and I remember my brother and sister-in-law serving them instead of cake at their wedding. I remember getting 6 of them because I wanted them all, but I remember being confused afterwards (how did I know there was a limit of 2 per person?!). Forever my favorite snack and it reminds me of friends and family.”

Instagram user Suto Estrada wrote, “My best friend and I planned a road trip to LA just to go to Sprinkles. It was the highlight of our high school years. Riding in cars, having adventures in different cities,… We ate the cutest cupcakes. During the pandemic, we finally ended up living in the same city again and ordered Sprinkles cupcakes almost every week, and our sweet treats were the highlight of lockdown.”

Other commenters expressed support for Nelson & Sprinkles employees who may be affected by the closure.

Jonathan Limehouse covers breaking and trending news for USA TODAY. Please contact JLimehouse@gannett.com..

America is obsessed with Zoran Mamdani. Why is he more than just the mayor?

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Mayor Zoran Mamdani is a New York phenomenon, but his message of democratic socialism has an audience far beyond the city’s five boroughs.

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  • Zoran Mamdani is New York City’s first Muslim mayor and first South Asian mayor.
  • He won an upset election with a fierce focus on affordability and a controversial plan to freeze rents on 1 million apartments.
  • Polls show Mamdani’s economic message is popular with young voters across the country, including those who voted for Donald Trump.

NEW YORK – He was named the No. 1 trending search for “people” on Google in 2025, and his Wikipedia page was among the 10 most read.

Republicans have called for his deportation, but some Democrats say he reminds them of a young Barack Obama. Fashion magazines say he is a style icon.

Zoran Kwame Mamdani, 34, will be sworn in as the next mayor of New York City at midnight on January 1 under the Spanish-tiled arches of the luxurious former subway station below City Hall in Lower Manhattan.

The private ceremony will be followed by a midday street party on the ground, drawing tens of thousands of supporters. Mamdani will be ceremonially sworn in by fellow Democratic Socialist Sen. Bernie Sanders in an event expected to draw viewers far beyond the city’s rowdy five boroughs.

Mayor of New York, national audience

The same attributes that make Mamdani an emerging leader for many Americans, including Democrats, socialists, millennials, South Asians, Muslims, and immigrants, make him a lightning rod for others.

“He’s basically the next AOC,” Republican political strategist Robert Hornak said, referring to Rep. Alexandria Ocasio-Cortez of New York, a national progressive star. “He has exactly the same mindset. He’s a villain to her constituency and a hero to her constituency.”

New York mayors typically don’t attract national attention unless they have trouble with the law or come under fire on “Saturday Night Live.” Mamdani is different. He came into office as a man of greater interest to the United States as a whole than his fellow American, Pope Leo XIV, with a vast reservoir of both good and bad intentions.

A Nov. 23 YouGov poll found that 35% of Americans have a favorable impression of the newly elected mayor, while 35% have an unfavorable impression. (The remaining 30% had no opinion.)

Why is this recently unknown state lawmaker gaining national attention? No one can deny that his unique identity and charisma are in part responsible, but experts say it’s primarily because he represents the economic anxieties of an emerging generation.

More than a social media flash

Mamdani has excited young voters in 2025 with ambitious promises to freeze rents, scrap public bus fares, raise the minimum wage and provide free childcare in one of the world’s most expensive cities – something his opponents say is unwise.

“Every politician says New York is the greatest city on earth,” Mamdani told viewers in his first campaign ad. “But what’s the point if no one can afford to live here?”

Many in the business world predict Mr. Mamdani’s policies could bankrupt landlords, restaurant operators and retailers, and force out high earners and employers. His supporters point to research showing that these concerns are often exaggerated.

Mamdani’s anti-corporate, anti-billionaire message is resonating with voters across the country as many young people struggle to find well-paying jobs and the prices of housing, food, health care and utilities soar.

With a multi-million social media campaign, Mamdani has turned his rabid Instagram following into an army of 100,000 campaign volunteers. Twelve months before her election, the then-state lawmaker’s Instagram account had 34,000 followers. By the November 4, 2024 election, it had 10 million views and hit 1 billion views in November.

His videos combined humor with a relentless focus on affordability, such as when he toyed with a promise to freeze rents and ran into the frigid winter waters of Coney Island.

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What’s next for New York Mayor Zoran Mamdani?

New York Mayor-elect Zoran Mamdani has won, but what challenges might he face once he takes office?

Gabriela Zutrow, the campaign’s digital consultant, said Mamdani is “a generational communicator.”

pulpit of the nation

Mamdani’s core support in New York is with progressives, but his priorities resonate with many young conservatives, Mark Mitchell, head of polling at Rasmussen Reports, told USA TODAY.

Mamdani is playing to young people who are “outraged and want their needs to be focused on,” Mitchell said. More than half of voters under 40 (including more than a third of young people who voted for President Trump) said they want a democratic socialist to be elected president in 2028, according to the Heartland Institute’s Rasmussen Poll conducted in September.

The survey found that 40% of young people who voted for President Trump said they “strongly agreed” that industries such as health care, energy and big tech should be nationalized, or taken over by the U.S. government, to “give people more control and equity,” while 39% said they “somewhat agree.” Only 6% strongly disagreed.

A year after President Trump won over New York voters with his promise to end inflation, prices continue to rise. According to an NBC News poll, one in 10 supporters of President Trump who participated in the mayoral race supported Mamdani.

Food prices have soared by nearly a third since the COVID-19 pandemic. Only 36% of 35-year-olds who were born between 1965 and 1980 own a home, compared to 80% of 35-year-olds born between 1965 and 1980. The average rent for a one-bedroom apartment in New York City will be $2,327 in 2025, an 81% increase from 2020, with cities across the country seeing small but significant increases.

Young people are “inheriting an economically devastated land,” Mitchell said.

Inspiring Muslims and Islamophobia

Mamdani portrays love and hate as much for what he expresses as what he says. His election embodies the rise of Muslim Americans in a society that has traditionally shunned them.

Mamdani will be New York City’s first Muslim city official and the first Muslim mayor of a major U.S. city. She was one of 42 Muslims elected on Nov. 4, including Democratic Virginia Lieutenant Governor-elect Ghazala Hashmi, who became the first Muslim-American woman elected to a statewide office.

“This is already happening,” New York City Councilmember Shahana Hanif, a Bangladeshi-American, told USA TODAY. “Our political power is growing.”

But the backlash was just as intense as the excitement.

Rep. Elise Stefanik, a Republican from upstate New York, repeatedly inaccurately called Mamdani a “jihadist.” Trump ally Laura Loomer, a self-described “proud Islamophobe” with a wide following, said New York would soon have sharia law.

Mamdani is a particularly popular target because he opposes the existence of Israel as a Jewish state. His defense of the Palestinian cause and his sharp criticism of Israel, initially reluctant to reject the phrase “the globalization of the intifada,” have worried supporters of Israel and even some Jewish Americans who might sympathize with Israel’s actions in Gaza.

After the election, New York City Fire Commissioner Robert Tucker announced his resignation, citing Mamdani’s views on the Middle East.

Mr. Mamdani has staffed his campaign and transition team with many Jewish New Yorkers and pledged to combat anti-Semitic hate crimes, but he has already drawn criticism for stumbles in his response to recent protests outside a synagogue and for appointing at least one person with a history of anti-Semitic comments. (When her old social media posts came to light, the official resigned and apologized.)

Even Mamdani’s parents, who were born in India, seem perfectly tuned to tempt the intrigues of the left and embarrass the right. Her mother, Mira Nair, is an Oscar-nominated film director, and her father, Mahmoud Mamdani, is a political scientist who grew up in Uganda.

In response to a video showing Mamdani eating with her hands, a custom among South Asians, Rep. Brandon Gill (R-Texas) said Mamdani “should go back to the Third World.”

Star power and its limits

Surveys show that supporters of the new mayor are “more supportive of the policies Mamdani is putting forward than the character,” said Ruby Bell Booth, a researcher at Tufts University’s Youth Information Research Center.

Still, with his stylish artist spouse, sunny demeanor and occasionally venomous barbs, Mr. Mamdani “disrupted the state’s red-haired voters’ idea of ​​what it meant to be an Islamic socialist,” said Elizabeth Spiers, a digital media strategist who also worked with progressives on their unsuccessful 2018 state Senate campaign.

Even President Trump, who had slammed Mamdani as a “communist” during the campaign, showered him with the warmth of a generous uncle when he visited the White House in November.

“He’s very charismatic,” Rep. Mike Lawler (R-N.Y.), who served with Mamdani in the state Legislature, told CNN. “He and I often played poker together.”

high expectations

Mamdani’s plans for the first major street party, which will fill seven blocks of Broadway with 40,000 revelers, will only heighten expectations.

However, other New York mayors also took office with enthusiastic support, but left office with low approval ratings.

The weight of expectations for Mamdani is especially heavy. For supporters, opponents and fascinated onlookers alike, his performance is widely seen as a key test for progressive governance.

Provoking such a strong reaction means they can mobilize supporters, but they will also have to deal with relentless negative coverage from conservative news outlets such as Fox News and the New York Post. He is expected to be met with skepticism from NYPD officials, since he has called for defunding the police in the past, but has since abandoned that idea.

Still, Mamdani’s allies see his penchant for bold, progressive rhetoric as an advantage rather than a drawback.

“He’s saying what he means and he means what he’s saying,” Zutrow, the campaign consultant, told USA TODAY. “That’s not the case with most politicians.”

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Powerball winning numbers for Wednesday, December 31, 2025

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The Powerball jackpot for tonight’s New Year’s Eve drawing is $45 million, with a cash value of $20.7 million, making it the last major lottery prize of 2025.

To date, no one has won the $1.8 billion Christmas Eve jackpot, but the winning ticket for the second-largest jackpot in Powerball history is being sold in Cabot, Arkansas, and the state says winners have until June 22, 2026, or 180 days from the drawing date, to claim their prize.

The overall odds of winning the prize are 1 in 24.9. According to the lottery website, the odds of winning the jackpot are 1 in 292.2 million.

What are the winning Powerball numbers on New Year’s Eve?

The winning numbers for Wednesday, December 31st drawing are: 11, 18, 21, 24, 38 and the powerball 26. The multiplier for “power play” is 10x.

How to play Powerball

Powerball tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. This can be done at a variety of locations, including local convenience stores, gas stations, and grocery stores. In some states, you can purchase Powerball tickets online depending on your local jurisdiction.

Once you have your ticket, you have to choose six numbers. Five of them are white balls numbered from 1 to 69. The red Powerball range is 1-26. You can also add a “Power Play” for $1, which increases your winnings on all non-jackpot prizes. “Power Play” multipliers can increase your winnings by 2x, 3x, 4x, 5x, or 10x.

A “Quick Pick” option is also available if you want the computer to select the numbers for you. To win the jackpot, players must match all five white balls with the red Powerball in any order.

Powerball drawings are held on Monday, Wednesday, and Saturday nights. The winnings continue to increase even if no one wins the jackpot.

The lottery winning numbers sponsors are: Jackpocket is the official digital lottery carrier of the USA TODAY Network.

Do I have to be a US citizen or resident to play Powerball?

The short answer is no. You do not need to be a U.S. citizen or resident to play Powerball. Anyone visiting any of the 45 states, the District of Columbia, Puerto Rico, or the U.S. Virgin Islands may purchase lottery tickets from authorized and licensed retailers, regardless of nationality, as long as they meet the legal age requirements (usually 18 years old) at the time of purchase.

Top 10 Powerball Jackpots

  • $2.04 billion in California on November 7, 2022
  • December 24, 2025, $1.817 billion in Arkansas.
  • $1.787 billion in Missouri and Texas on September 6, 2025
  • $1.765 billion in California on October 11, 2023
  • January 13, 2016, $1.586 billion in California, Florida, and Tennessee
  • April 6, 2024, $1.326 billion in Oregon.
  • $1.08 billion in California on July 19, 2023
  • $842.4 million in Michigan on January 1, 2024
  • March 27, 2019, $768.4 million in Wisconsin
  • August 23, 2017, $758.7 million in Massachusetts

Can I get Powerball tickets online?

You can also order tickets online Jackpocket, USA TODAY Network’s official digital lottery delivery company, In the following U.S. states and territories: Arizona, Arkansas, Colorado, Idaho, Maine, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New York, Oregon, Puerto Rico, Washington DC, and West Virginia.

The Jackpocket app allows you to choose your lottery games and numbers, place your order, check your tickets, and claim your winnings, all using your phone or home computer.

Jackpocket is the official digital lottery carrier of USA TODAY Network. Gannett may earn revenue from viewer referrals to the Jackpocket Service. Must be 18 years or older, 21 years or older in Arizona, 19 years or older in Nebraska. Not affiliated with any state lottery. Gambling problem? Call 1-877-8-HOPE-NY or text HOPENY (467369) (NY). 1-800-327-5050 (MA); 1-877-MYLIMIT (OR); 1-800-981-0023 (PR); 1-800-GAMBLER (ALL OTHERS). visit jackpocket.com/tos Over the entire period.

US military launches another deadly attack on suspected drug smuggling ship

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The US Army Southern Command announced that the military attacked three ships, killing five people. The Coast Guard said it was searching for survivors.

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The U.S. Coast Guard is searching for survivors of a U.S. military attack on a suspected drug-smuggling convoy in the Pacific Ocean, U.S. officials said Wednesday.

Since September, President Donald Trump’s administration has carried out more than 30 airstrikes against suspected drug-smuggling vessels in the Caribbean and Pacific Ocean, killing at least 110 people.

The U.S. Army Southern Command said in a statement that its troops attacked three ships.

“Three narco-terrorists on board the first ship were killed in the initial engagement. The remaining narco-terrorists abandoned the other two ships, jumped from the ship and distanced themselves, sinking each ship in the ensuing engagement,” Southern Command wrote to X.

Southern Command announced late Wednesday that it had attacked two ships. He did not say where the attack took place, but said five people were killed as a result.

US searching for 8 people: authorities

Eight people have abandoned the ship and are being searched, a U.S. official said on condition of anonymity.

The Coast Guard told Reuters it had deployed a C-130 aircraft to search for survivors and was working with nearby vessels.

This is not the first time that a U.S. airstrike has left a survivor alive under the Trump administration. In October, two survivors of the US attack were repatriated to their home country.

Later that month, Mexican authorities launched a search-and-rescue operation after another U.S. airstrike revealed survivors. That person was not found.

The decision to attack the vessel but not the survivors was made after it emerged that the US military had carried out an additional attack on a vessel believed to be a drug carrier with two survivors on board during the September attack.

The deadly attack on the drug ship is part of a broader campaign by the Trump administration aimed at disrupting the supply of illegal drugs. Legal experts and Democratic lawmakers have questioned the legality of the strike.

The airstrikes came amid a pressure campaign against the government of Venezuelan President Nicolás Maduro and a major U.S. military buildup in the region.

President Trump said Monday that the United States had “struck” an area where drugs were being loaded onto boats in Venezuela, marking the first known ground operation by the U.S. government in Venezuela.

Officials said the ground attack was not carried out by the U.S. military, and President Trump had previously said he authorized the CIA to carry out covert operations in Venezuela.

Is the stock market open on New Year’s Day? See holiday schedule for 2026

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The U.S. stock market will be closed on Thursday, January 1st due to the New Year’s Day holiday.

Both the Nasdaq and the New York Stock Exchange will hold regular trading on the last day of 2025 before the New Year’s Day holiday.

The U.S. bond market will close early on Wednesday, December 31st, with trading for the rest of the year scheduled to end at 2pm ET. The Securities Industry and Financial Markets Association says it will remain closed on New Year’s Day.

The first trading day of the new year will take place on Friday, January 2, 2026. After New Year’s Day, the next scheduled closing date will be Monday, January 19th, in observance of Martin Luther King Jr. Day.

See 2026 stock market holiday schedule

The New York Stock Exchange and Nasdaq are scheduled to close in 2026.

  • New Year’s Day: Thursday, January 1st
  • Martin Luther King Jr. Day: Monday, January 19th
  • George Washington’s Birthday/President’s Day: Monday, February 16th
  • Good Friday: Friday, April 3rd
  • Memorial Day: Monday, May 25th
  • juneteenth: Friday June 19th
  • independence day: Friday, July 3rd
  • labor day: Monday, September 7th
  • Thanksgiving: Thursday, November 26th
  • Christmas Day: Friday, December 25th

Gabe Hauari is USA TODAY’s national trends news reporter. You can follow him at X @gabehauari Or email Gdhauari@gannett.com.

Zoran Mamdani takes office as New York City Mayor on New Year’s Day

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The midnight ceremony inside the landmark former metro station will precede Mamdani’s public inauguration and a large celebratory block party.

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  • Zoran Mamdani was sworn in at midnight by state Attorney General Letitia James inside the defunct Old City Hall subway station, a Romanesque revival landmark.
  • Sen. Bernie Sanders of Vermont, a fellow democratic socialist, is scheduled to take the oath of office in a public ceremony Thursday afternoon.
  • “This inauguration is a celebration of the movement we built, the mission we won, and the city we are ready to lead,” Mamdani said.

Zoran Mamdani was sworn in as New York’s mayor just after midnight on New Year’s Day, after a once-impossible rise to power that shattered the state’s 60-year political dynasty and charmed an enthusiastic President Donald Trump from the White House.

He called signing the papers and paying the $9 application fee in change to be officially sworn in as a “once-in-a-lifetime honor and privilege.”

Surrounded by her family, Mamdani was sworn in by New York State Attorney General Letitia James under the Spanish-tiled arches of the landmark former subway station below City Hall in lower Manhattan.

In his brief remarks after being sworn in, Mamdani called the environment “a testament to the importance of public transportation to the vitality, health and heritage of our city.” He also announced the appointment of Mike Flynn as Secretary of Transportation.

Mamdani, a former state legislator from Queens, is the city’s 112th mayor and the first Muslim and first person of South Asian descent to lead the nation’s largest city and business and cultural center.

According to the New York Times, he based his oath on the Koran, making him the first New York mayor to take the oath. The Times reported that Mamdani will use her grandfather’s Koran and the Koran of Black author and historian Arturo Schomburg in the two ceremonies.

The underground ceremony precedes his public inauguration and a large block party in the afternoon. Sen. Bernie Sanders, a fellow Democratic Socialist from Brooklyn, is scheduled to be sworn in publicly in front of Mandani City Hall.

Tens of thousands of Gothamites are expected to take to the city’s streets on Mamdani’s first day. His transition team said it would be a more public ceremony than the typically small swearing-in ceremony for just 4,000 ticketed guests.

“This inauguration is a celebration of the movement we built, the mission we won, and the city we are ready to lead,” Mamdani said.

Mamdani will replace Eric Adams, a centrist Democrat who resigned after one term marred by scandal.

Four years ago, Adams took the oath of office in a high-profile ceremony in crowded Times Square shortly after the ball dropped on 2022.

Mr. Adams, 65, withdrew his bid for re-election amid corruption investigations targeting him and six of his aides and allegations of collusion with the Trump administration, a move seen as a negative in the Democratic-dominated city.

Mamdani recently won the Nov. 4 general election with more than 1 million votes, defeating former Democratic Gov. Andrew Cuomo, who ran as an independent, and Republican Curtis Sliwa. His campaign upended local and national politics with ambitious (and critics say impossible) policies to reduce the cost of living through things like a rent freeze on 1 million urban apartments, free buses and free child care.

Eduardo Cuevas is based in New York City. Contact us via email (emcuevas1@usatoday.com) or Signal (emcuevas.01).

The United States will celebrate New Year’s Eve in 2026. Watch the festivities live

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As 2025 draws to a close, the sounds of old acquaintances being forgotten will echo across the country.

The year began with fires engulfing Southern California, followed by President Donald Trump’s second inauguration. A military helicopter and a passenger plane collided near Washington, DC, killing 67 people. The assassination of conservative activist Charlie Kirk. Expansion of controversial immigration enforcement. and, among countless other major headlines, the emergence of an outsider challenger to the Democratic establishment.

New Year’s fireworks have already been set off in many parts of the world, and North America is about to cross the line into 2026 within hours.

Shortly after New Year’s Balls are thrown (for once) in New York City, the Zoran Mamdani era will begin in the Big Apple, and the political horses will be roaring at the gates as the 2026 midterm election season begins in earnest.

But for now, revelers will gather to watch items ranging from crystal balls to shrimp drop and fireworks light up the night sky at the end of 2025.

You can watch live coverage of New Year’s Eve celebrations from across the country by starting the USA TODAY livestream at the top of this article or on our YouTube channel.

How to watch New Year’s special programs on TV

As the clock marks the end of 2025, here’s how to watch TV specials to ring in the new year.

Classic ones: How to watch Dick Clark’s New Year’s Rockin’ Eve in 2026

Rural New Year: Who will host the 2026 ‘Nashville Big Bash’? How to watch the NYE special

On cable: How to watch CNN’s “New Year’s Eve Live” starring Anderson Cooper and Andy Cohen

What’s open on New Year’s Day in America?

As the final minutes of 2025 tick by, here’s what you need to know about what will be open and closed on the first day of 2026.

Which retail stores are open on New Year’s Day? Details on IKEA, Kohl’s, Macy’s and more

New Year’s Day 2026: Are banks, post offices, UPS, and FedEx open? What you need to know

Details on Aldi, Lidl and more. Which grocery stores are open on New Year’s Day?

Which restaurants are open? Find out which restaurants are serving customers on New Year’s Day

Are CVS and Walgreens open on New Year’s Day? What you need to know about pharmacies

Work on a solution: Which gyms are open on New Year’s Day? Details on Gold’s, Planet Fitness, and more