A saw blade clamping arrangement for a power tool includes a clamp support, a biasing member and an actuation member. The clamp support is interconnected with the drive shaft for reciprocating motion with the drive shaft relative to a housing of the power tool. The clamp support is configured to selectively receive a saw blade of the power tool in various orientations. A release lever is carried by the housing and is manually rotated to move a control member between a first position in which the saw blade is coupled to the drive shaft and a second position in which the saw blade may be displaced from the drive shaft. In at least one of the orientations, the saw blade is positioned offset from the drive shaft and proximate one of the side walls of the tool housing to allow for flush cutting of a work piece.