Residents of Portland are set to see an average tax savings of $3,413 this year, following the recent passage of new legislation aimed at easing the financial burden on local households. The bill, approved by city council last week, introduces targeted tax cuts designed to support working families and stimulate economic activity across the region....

The recent Rescissions Act has resulted in a significant reduction of public broadcasting funding by approximately $1.1 billion, marking one of the largest cuts in recent memory. This move, approved by Congress and signed into law last week, trims federal allocations that support national public media outlets, including PBS and NPR, as well as local...

President Donald Trump’s recent Rescissions Act has resulted in a significant reduction of federal funding, totaling approximately $7.9 billion. Announced earlier this week, the measure aims to reallocate funds across various government agencies, emphasizing fiscal restraint and targeted budget adjustments. The legislation, which was passed by Congress with bipartisan support, grants the president authority to...

More than 3,000 residents across Oregon are facing significant reductions in their Supplemental Nutrition Assistance Program (SNAP) benefits, with some losing over $3,000 annually. The recent eligibility cuts stem from policy changes enacted by federal and state authorities aimed at tightening the criteria for benefit qualification. This shift affects primarily low-income households, many of whom...

Federal budget officials have announced a sweeping reduction in discretionary spending, totaling approximately $1.1 trillion. This scale of cutbacks has prompted a widespread pause across numerous public programs, affecting everything from healthcare and education to infrastructure projects and social services. The decision, driven by ongoing fiscal constraints and political negotiations over the national debt ceiling,...

Maine residents could see an average tax savings of $3,204 under the recent comprehensive tax plan proposed by the Trump administration. The new policy aims to overhaul the current tax code, offering targeted reductions across various income brackets and encouraging economic growth. According to preliminary analyses from the Tax Foundation, the plan’s adjustments are projected...

Homeowners across New York State may soon see significant financial relief thanks to the latest update to federal tax laws concerning the State and Local Tax (SALT) deduction. Under the new rules, eligible residents can potentially claim over seven thousand dollars in state and local tax deductions on their federal returns, a substantial increase from...

The Internal Revenue Service (IRS) has announced a new 2025 tax deduction designed to provide significant relief for low-income and senior taxpayers. This initiative offers eligible individuals up to $4,000 in savings on their federal taxes, aiming to ease financial burdens amid ongoing economic challenges. The deduction, set to take effect with the 2025 tax...

California homeowners are experiencing notable financial relief due to recent reforms to the SALT (State and Local Tax) deduction cap, with many seeing an average increase of approximately $1,240 in annual savings. This shift follows federal legislative adjustments aimed at easing tax burdens in high-tax states, particularly impacting residents of California where local taxes and...

The Internal Revenue Service (IRS) has announced that the maximum Earned Income Tax Credit (EITC) for the 2025 tax year will be capped at $8,046. This figure represents a notable increase from previous years, reflecting adjustments for inflation and policy updates aimed at providing greater support to low- and moderate-income working families. The expanded benefit...