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NJ Spotlight News | Business Report: No SALT relief in new federal spending bill | Season 2022


Published on 2025-05-01 21:00:46 - PBS
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  • The new spending bill wouldn't raise or eliminate cap on state and local tax deductions

The video at the provided URL is a business report segment from PBS NewsHour, focusing on various economic topics. It discusses the Federal Reserve's decision to raise interest rates by a quarter percentage point, aiming to combat inflation while trying to avoid a recession. The report also covers the ongoing debate about the debt ceiling in Congress, with warnings from Treasury Secretary Janet Yellen about the potential economic consequences of failing to raise it. Additionally, the segment touches on the labor market, noting a slight increase in unemployment claims but still historically low levels, and the continued strength in job growth. The report concludes with a brief mention of the impact of these economic factors on consumer spending and business investment.

Read the Full PBS Article at:
[ https://www.pbs.org/video/business-report-1659120193/ ]