All articles tagged with #second half 2026
Goldman Sachs economists say the strong consumer boost from tax refunds in Q2 may be short‑lived, projecting real consumer spending growth slow to about 1–1.5% in the second half as real cash flow stagnates, even as GDP rose 1.5% in Q2 and retailer demand showed broad strength. The bank notes Q2 sales gains were helped by refunds and signals from retailers will be tested in upcoming earnings from Home Depot, Lowe's, Walmart and Target.
Starting July 1, 2026, the IRS increases the standard mileage rate for business use by 3.5 cents to 76 cents per mile for the second half of 2026, with medical/moving mileage at 23.5 cents and Armed Forces/intelligence mileage also at 23.5; charitable mileage remains 14 cents. The midyear adjustment—driven by volatile gas prices and a rare move in recent years—will apply to mileage incurred on or after July 1 and affects 2026 tax returns for self‑employed filers and employees who are reimbursed by employers, who must consider both halves’ rates when calculating deductions or reimbursements.