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President Trump’s new tax bill introduces significant changes for homeowners, particularly benefiting high earners in high-tax states. The state and local tax (SALT) deduction cap rises from $10,000 to $40,000, enabling more homeowners in states like New York, New Jersey, and California to itemize deductions and save thousands annually. This temporary measure, effective from 2025 to 2030 with a 1% yearly increase, also reinstates the mortgage insurance premium deduction and maintains the mortgage interest deduction on the first $750,000 of a mortgage. Financial experts note that working professionals with large mortgages will see the most benefit, while retirees with smaller or paid-off loans are less impacted. However, households earning over $500,000 face a reduced cap, and the policy may spur demand and price increases in already tight housing markets. Despite the relief, some wealthy Americans continue relocating from high-tax states due to cost of living and remote work trends. The bill reverses a post-2017 trend where only 10% of taxpayers itemized, potentially encouraging more to do so now.
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Trump Media & Technology Group (DJT), associated with U.S. President Donald Trump’s Truth Social platform, has partnered with Crypto.com to form Trump Media Group CRO Strategy, a new entity aimed at accumulating Crypto.com’s native token, cronos (CRO-USD). This venture will go public via a merger with Yorkville Acquisition Corp, supported by substantial funding, including $1 billion in CRO tokens, $200 million in cash, $220 million in warrants, and a $5 billion equity line of credit from a Yorkville affiliate. The announcement triggered a significant market response, with CRO-USD soaring 26.85% to $0.204591, Trump Media shares increasing by 4.2% to $17.94, and Yorkville’s shares declining by 2.3%. Cronos holds a market value of $6.8 billion, a minor fraction of the $3.88 trillion global crypto market. The deal includes a one-year lockup period for the parties involved. This move further ties Trump to the cryptocurrency industry, building on earlier collaborations with Crypto.com to launch exchange-traded funds and products under the Truth.Fi brand.
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Genuine Parts Company (GPC), a leading auto parts distributor based in Atlanta, Georgia, has shown robust performance in 2025 with a year-to-date stock return of 19.3%, outpacing the S&P 500’s 9.5% gain. Despite a 2.1% decline over the past 52 weeks, GPC’s Q2 earnings reported on July 22 highlighted a 3.4% sales increase to $6.2 billion, driven by acquisitions and modest growth, with adjusted EPS of $2.10 beating expectations. However, the company revised its 2025 outlook downward, projecting revenue growth of 1%-3% and EPS of $7.50-$8.00, citing macroeconomic challenges like tariffs. Analysts remain cautiously optimistic, assigning a “Moderate Buy” rating, with price targets suggesting potential upside. GPC continues to navigate volatility with a focus on cost discipline and M&A gains, positioning it as a key player in the consumer discretionary sector despite economic headwinds.
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The rapid expansion of data centers by Big Tech to support AI growth is meeting resistance from local communities concerned about environmental and social impacts. With global spending on data centers projected to nearly double from $493 billion in 2025 to $920 billion by 2028, issues like soaring electricity costs, water consumption, and infrastructure strain are escalating. Critics highlight risks of blackouts and dry taps, while economic benefits like jobs and tax revenue are often overstated. Across 24 states, 142 activist groups have stalled $64 billion in projects since early 2023, employing tactics from lawsuits to grassroots campaigns. In Virginia, Elena Schlossberg’s coalition has led significant battles, achieving partial victories against projects by Amazon and Blackstone. Similar efforts in Georgia and elsewhere show mixed results, with some communities blindsided by nondisclosure agreements and zoning changes. State legislative attempts to regulate the industry largely fail, leaving locals to fend for themselves. While Big Tech touts economic gains, the fight against data centers reveals a broader struggle over community rights versus technological progress, with activists slowing—but not stopping—the AI-driven expansion.
