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Financein U.S News
an hour ago

Bond yields rise amid economic shifts as the US Mint phases out pennies, while economists caution that tariffs could impact employment.

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U.S News
New York, SALT and the ‘Donor State’ Myth
negativeU.S News
This article pushes back against claims by Rep. Mike Lawler that New York is a "donor state" unfairly burdened by federal taxes, particularly due to the SALT (state and local tax) deduction cap. It argues that the narrative is misleading, pointing out that New York benefits significantly from federal spending and that the SALT debate often overlooks broader fiscal realities.
Editor’s Note: The SALT deduction is a hot-button issue, especially in high-tax states like New York, where politicians often frame it as an unfair penalty. But this piece challenges that idea, suggesting the "donor state" label is more political rhetoric than economic truth. For readers, it’s a reality check on how federal taxes and spending actually play out—no matter which side of the debate they’re on.
House Republican tax bill passes 'SALT' deduction cap of $40,000. Here's who benefits.
neutralU.S News
House Republicans just pushed through a tweak to the SALT deduction—capping it at $40,000—as part of Trump’s broader tax package. If you’re scratching your head, SALT lets taxpayers deduct state and local taxes from their federal bill. The change mostly helps higher earners in high-tax states (think New York or California), but critics argue it’s a band-aid fix that leaves middle-class families in the cold.
Editor’s Note: This isn’t just inside baseball—it’s a big deal for your wallet if you live in a state with steep taxes. The GOP’s move eases the pain for some, but it’s also reigniting debates about who really benefits from tax cuts. And with midterms looming, it could sway voters in places where SALT is a kitchen-table issue.
The GOP tax bill includes tax cuts, spending increases, spending reductions and some tax hikes. Here are some key proposals.
neutralU.S News
The GOP's new tax bill is a mixed bag—it proposes tax cuts and spending increases that are bigger than the planned reductions to programs like Medicaid and SNAP, but it also includes some tax hikes. In short, it’s not just about slashing taxes; there’s a lot of give-and-take in the details.
Editor’s Note: This isn’t just another "tax cuts for everyone" story. The bill could have real ripple effects—helping some people’s wallets while tightening budgets for others, especially those who rely on safety-net programs. If you care about where your money goes (or doesn’t go), this is worth keeping an eye on.
The new Trump-led tax bill promises an American ‘golden age’ – that conveniently ends with his presidency
negativeU.S News
The GOP just pushed through a new tax bill dubbed the "One Big Beautiful Bill Act," which extends Trump-era tax cuts—but there’s a catch. The benefits, pitched as ushering in an "American golden age," are set to expire the moment Trump leaves office. It narrowly passed 215-214, raising questions about what happens next for taxpayers if (or when) the policy sunsets.
Editor’s Note: This isn’t just about tax cuts—it’s a political time bomb. By tying the bill’s lifespan to Trump’s presidency, Republicans are either betting on his re-election or setting up a fiscal cliff for the next administration. Either way, it’s a risky move that could leave ordinary Americans in limbo. And with such a tight vote, it’s clear even some in the GOP aren’t sold on the strategy.
Debt hawks spar with blue-state Republicans over tentative SALT deal
negativeU.S News
A group of fiscally conservative lawmakers is butting heads with Republicans from high-tax states over a proposed deal to raise the cap on state and local tax (SALT) deductions from $10,000 to $40,000. While blue-state Republicans see this as a win for their constituents, debt-conscious conservatives are fuming because they’d rather push for deeper spending cuts in the broader GOP bill.
Editor’s Note: This fight isn’t just about numbers—it’s a clash of priorities within the Republican Party. Blue-state lawmakers want relief for taxpayers hit hard by SALT caps, but fiscal hawks see it as a costly giveaway that undermines efforts to rein in spending. How this plays out could shape not just the bill’s future but also the GOP’s internal balance of power.

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