U.S. taxpayers can shield an extra $500 from taxation next year

Key Points:

• Salon, a pioneering liberal online news publication founded in 1995, announced it is ceasing publication after 31 years, citing unsustainable business models and the impact of AI on digital journalism.
• A Republican operative in New York, Aidan Rowan, faces felony charges for allegedly forging ballot applications and ballots in a local primary election; he has a history in New York politics and recently turned himself in.
• Libya’s top Islamic authority issued a fatwa banning Muslims from buying, selling, or wearing Nike products, citing the brand’s association with polytheistic symbols linked to the Greek goddess of victory.
• The IRS announced new tax brackets and increased standard deductions for 2027 income, including a $500 increase in deductions for singles and couples and a $100 rise in the child tax credit.
• House Republican leadership faces challenges following election losses, with key figures like Steve Scalise and Jim Jordan vying for minority leader, while Democrats prepare for leadership elections with Hakeem Jeffries expected to become the first Black House Speaker.
• The Metropolitan Museum of Art revealed the 2025 Met Gala theme, “extraORDINARY: Fashion and the Poetics of the Everyday,” focusing on everyday materials transformed into high fashion, promising a creative and accessible celebration.
• In Mississippi’s tight Senate race, Democrat Scott Colom gained support by engaging directly with voters outside a Trump rally, a rare strategy that contrasts with some Democrats’ reluctance to engage with Trump supporters.