Recent advances in vision-language models and generative editing systems have made it increasingly easy to produce persuasive multimodal misinformation by altering images, text, or both jointly. However, existing datasets focus mainly on authenticity, out-of-context mismatch, or manipulation type, and rarely capture how strongly an edit changes the likely interpretation of a post. We introduce T-IMPACT, a first-release severity-aware benchmark for manipulated news-style image-text pairs. T-IMPACT contains 98,786 examples spanning pristine, image-only, text-only, and joint manipulations, with a calibrated continuous severity signal, coarse low/medium/high labels, and supporting grounding metadata. Starting from a news image-text pair, the pipeline extracts semantic anchors, grounds them spatially, performs localized image edits and constrained caption rewrites, and calibrates contextual-impact scores using limited human ratings. In this release, the calibrated continuous score is the primary severity target, while the low/medium/high bands should be interpreted as coarse operating buckets rather than balanced classes. Experiments show that current models recover some authenticity signal, but severity prediction remains substantially harder and only weakly aligned with human judgment. T-IMPACT provides an initial benchmark for studying multimodal manipulation beyond binary real/fake classification toward graded contextual impact.

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