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Republicans and Democrats are trying to find a middle ground on several provisions in order to pass another coronavirus stimulus package, including whether to repeal a $10,000 cap on state and local tax deductions. Senate Minority Leader Chuck Schumer, D-N.Y., unveiled a proposal in mid-July along with Congressman Tom Suozzi, D-N.Y., to fully restore the deduction in the next relief package. However, Republicans have traditionally opposed repealing the cap – which was implemented as part of the 2017 Tax Cuts and Jobs Act – arguing that it primarily favors wealthy individuals in high-tax states, which have been accused of budget mismanagement prior to the pandemic. SALT CAP REPEAL THE 'SINGLE BEST' ACTION TO HELP NEW YORK, CUOMO SAYS Earlier this week, Senate Majority Leader Mitch McConnell blamed Democrats for holding up the package over “’an unrelated tax cut for rich people.” The Kentucky Republican made similar comments at the end of July. Schumer has maintained that the bill needs to support state and local governments. CORONAVIRUS HIT HIGH-TAX STATES RENEW SALT CAP REPEAL EFFORTS While the Republican-sponsored HEALS Act does not adjust the measure, House Democrats approved a stimulus proposal in May that called for reinstating the SALT deduction for 2020 and 2021. Repealing the cap could be helpful in high-tax states as they consider how to return to business as usual once the coronavirus crisis subsides. It has caused an exodus from these higher-tax states, which has, in turn, resulted in a loss of state tax revenues. “We need to bring our federal dollars back home and cushion the blow this virus –and this harmful SALT cap--has dealt so many homeowners and families locally,” Schumer said in a statement. Suozzi added that families would leave New York without the measure. The White House has repeatedly pushed back at efforts to overturn the provision for years. A legal challenge that was launched by New York, New Jersey, Connecticut and Maryland is making its way through the courts. CLICK HERE TO READ MORE ON FOX BUSINESS A handful of local officials have been outspoken about repealing the provision, including New York Gov. Andrew Cuomo, who is trying to get Manhattan’s wealthiest taxpayers to return to the city. Cuomo said in May that repealing the cap would be the “single best piece of action” to help the state, claiming it costs New York state about $29 billion per year. New Jersey Gov. Phil Murphy also said undoing the cap would be a form of “main street stimulus.”
Posted inEconomy

In SALT cap stimulus square-off, lawmakers squabble over $10,000 deduction limit

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
McConnell open to extending $600 unemployment boost in coronavirus stimulus deal
Posted inEconomy

McConnell open to extending $600 unemployment boost in coronavirus stimulus deal

USNN World Newsby USNN World NewsAugust 5, 2020August 19, 2024
House Speaker Nancy Pelosi slammed President Trump for suggesting that he would deliver his convention acceptance speech from the White House South Lawn, calling the proposed move "very wrong." "For the President of the United States to degrade once again the White House, as he has done over and over again, by saying he's going to completely politicize it, is something that should be rejected right out of hand," Pelosi, D-Calif., said during an interview on MSNBC. "It's not serious thinking," she said. "It won't happen, whether it's legally wrong or ethically out of the question, it shouldn't have been something that was expressed." TRUMP CAMPAIGN CONSIDERING POSSIBLE CONVENTION ACCEPTANCE SPEECH FROM WHITE HOUSE LAWN Earlier in the day, during an interview on "Fox & Friends," Trump confirmed that his re-election campaign was exploring several options for the site of his Republican National Convention nomination acceptance speech later this month, including the South Lawn. "We're thinking about it," Trump said. "It would be the easiest from the standpoint of security. You know these, they move with a lot of people, it's a very expensive operation militarily. And law enforcement-wise. The Secret Service is fantastic. But it's a big deal." The possibility that Trump may deliver one of his most high-profile speeches at the White House has raised questions over whether it's a violation of the Hatch Act, which prohibits federal government employees from participating in partisan political activity -- although the president and vice president are exempt. TRUMP, IN 'FOX & FRIENDS' INTERVIEW, WARNS IT COULD TAKE YEARS TO GET ELECTION RESULTS WITH MASS-MAILED BALLOTS placeholder “I think anything you do on federal property would seem to be problematic,” Sen. John Thune, R, S-D., told reporters this week. At the end of July, Trump abruptly canceled RNC events that were scheduled to take place in Jacksonville, Fla. amid a resurgence of coronavirus cases in the state. His decision to do so came just weeks after he moved the event from North Carolina after a health safety-related dispute with the state's Democratic governor. Several hundred Republican delegates will still meet in Charlotte to nominate Trump, whose address is scheduled to take place the final night of the three-day event, which runs from Aug. 24-27. BIDEN CAMPAIGN SHELLING OUT $280M FOR 15-STATE AD BUY The Democratic National Convention Committee on Wednesday announced the party's event will be completely virtual, with presumptive nominee Joe Biden no longer traveling to Milwaukee to deliver the acceptance speech. Biden will now deliver his keynote speech in his home state of Delaware, according to a news release.
Posted inNational News

Pelosi blasts Trump for saying he may deliver convention speech from White House: ‘He can’t do that’

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
Republicans and Democrats are trying to find a middle ground on several provisions in order to pass another coronavirus stimulus package, including whether to repeal a $10,000 cap on state and local tax deductions. Senate Minority Leader Chuck Schumer, D-N.Y., unveiled a proposal in mid-July along with Congressman Tom Suozzi, D-N.Y., to fully restore the deduction in the next relief package. However, Republicans have traditionally opposed repealing the cap – which was implemented as part of the 2017 Tax Cuts and Jobs Act – arguing that it primarily favors wealthy individuals in high-tax states, which have been accused of budget mismanagement prior to the pandemic. SALT CAP REPEAL THE 'SINGLE BEST' ACTION TO HELP NEW YORK, CUOMO SAYS Earlier this week, Senate Majority Leader Mitch McConnell blamed Democrats for holding up the package over “’an unrelated tax cut for rich people.” The Kentucky Republican made similar comments at the end of July. Schumer has maintained that the bill needs to support state and local governments. CORONAVIRUS HIT HIGH-TAX STATES RENEW SALT CAP REPEAL EFFORTS While the Republican-sponsored HEALS Act does not adjust the measure, House Democrats approved a stimulus proposal in May that called for reinstating the SALT deduction for 2020 and 2021. Repealing the cap could be helpful in high-tax states as they consider how to return to business as usual once the coronavirus crisis subsides. It has caused an exodus from these higher-tax states, which has, in turn, resulted in a loss of state tax revenues. “We need to bring our federal dollars back home and cushion the blow this virus –and this harmful SALT cap--has dealt so many homeowners and families locally,” Schumer said in a statement. Suozzi added that families would leave New York without the measure. The White House has repeatedly pushed back at efforts to overturn the provision for years. A legal challenge that was launched by New York, New Jersey, Connecticut and Maryland is making its way through the courts. CLICK HERE TO READ MORE ON FOX BUSINESS A handful of local officials have been outspoken about repealing the provision, including New York Gov. Andrew Cuomo, who is trying to get Manhattan’s wealthiest taxpayers to return to the city. Cuomo said in May that repealing the cap would be the “single best piece of action” to help the state, claiming it costs New York state about $29 billion per year. New Jersey Gov. Phil Murphy also said undoing the cap would be a form of “main street stimulus.”
Posted inNational News

Trump downplays Republican concerns about giving nomination acceptance at White House: ‘It is legal, there is no Hatch Act’

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion
Posted inEconomy

McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
Trump calls Black Lives Matter a 'Marxist group,' rips athletes kneeling for anthem
Posted inNational News

Trump rips athletes kneeling for anthem, calls Black Lives Matter a ‘Marxist group’

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
Tropical Storm Isaias caused 147 mph wind gust atop Mount Washington in New Hampshire
Posted inWeather

Tropical Storm Isaias caused 147 mph wind gust atop Mount Washington in New Hampshire

USNN World Newsby USNN World NewsAugust 5, 2020September 7, 2024
Beirut explosion: Rescue workers frantically search for survivors as Lebanon capital confronts massive devastation
Posted inWorld

Beirut explosion: Rescue workers frantically search for survivors as Lebanon capital confronts massive devastation

USNN World Newsby USNN World NewsAugust 5, 2020June 20, 2024
Carolyn Maloney declared winner in New York congressional race marred by mail-in ballot problems
Posted inNational News

Carolyn Maloney declared winner in New York congressional race marred by mail-in ballot problems

USNN World Newsby USNN World NewsAugust 4, 2020February 26, 2025
Dem Senator walks out of Ted Cruz's Antifa hearing: 'I don't think you listen'
Posted inCongress

Dem Senator walks out of Ted Cruz’s Antifa hearing: ‘I don’t think you listen’

USNN World Newsby USNN World NewsAugust 4, 2020August 4, 2020
Stocks rally as slow coronavirus-relief talks move in 'right direction'
Posted inEconomy

Stocks rally as slow coronavirus-relief talks move in ‘right direction’

USNN World Newsby USNN World NewsAugust 4, 2020December 5, 2024
DB Cooper case gets new clues in tiny algae found on ransom money, study says
Posted inNational News

DB Cooper case gets new clues in tiny algae found on ransom money, study says

USNN World Newsby USNN World NewsAugust 4, 2020August 4, 2020

Posts pagination

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NATIONAL NEWS

  • ‘Fundamentally Unfair’: Hall of Fame Swimmer Says Girl Athletes ‘Terrified’ to Critic Transgender Athletes — So She Did‘Fundamentally Unfair’: Hall of Fame Swimmer Says Girl Athletes ‘Terrified’ to Critic Transgender Athletes — So She Did
    By Michael Wing Few know the struggles transgender women athletes face better than Lia Thomas, who once competed as a male swimmer — claiming several Ivy League ...
  • Trump Defends Gun Rights, Calls for ‘Security Overhaul’ at Schools Nationwide After Uvalde Mass ShootingTrump Defends Gun Rights, Calls for ‘Security Overhaul’ at Schools Nationwide After Uvalde Mass Shooting
    By Mimi Nguyen Ly Former President Donald Trump on Friday called for a “top to bottom security overhaul” at schools nationwide after 21 people died at a mass ...
  • Elon Musk Says He ‘Strongly’ Believes in Second Amendment, Suggests ‘Special Permit’ Be Required for ‘Assault Rifles’Elon Musk Says He ‘Strongly’ Believes in Second Amendment, Suggests ‘Special Permit’ Be Required for ‘Assault Rifles’
    By Gary Bai Tesla and SpaceX CEO Elon Musk joined the right-to-bear arms debate this week by sharing his thoughts on the second amendment after ...
  • Majorities say Biden shows he is too old, not fit to be presidentMajorities say Biden shows he is too old, not fit to be president
    By Bob Unruh When Joe Biden made those inflated promises at the beginning of his term about how he’d bring the nation together, he probably ...
  • Florida’s Inspector General Finds Claims of COVID Data Manipulation ‘Unsubstantiated’Florida’s Inspector General Finds Claims of COVID Data Manipulation ‘Unsubstantiated’
    By Jannis Falkenstern PUNTA GORDA, Fla.–The Florida Inspector General has found “insufficient evidence” to support the claims of a former employee that she was asked to ...
  • Top Democrat Blocks Legislation Aimed at Preventing School ShootingsTop Democrat Blocks Legislation Aimed at Preventing School Shootings
    By Zachary Stieber Senate Majority Leader Chuck Schumer (D-N.Y.) on May 25 blocked legislation that proponents say could help prevent school shootings. The bill, known as the Luke and ...
  • Police Waited to Enter Texas School as Shooter Opened Fire: WitnessesPolice Waited to Enter Texas School as Shooter Opened Fire: Witnesses
    By Jack Phillips Several witnesses on the scene of the Texas mass shooting said that police waited to enter as videos surfaced of parents telling officers to “Go protect ...
  • Twitter to Pay $150 Million After Being Accused of Improperly Selling User DataTwitter to Pay $150 Million After Being Accused of Improperly Selling User Data
    By Mimi Nguyen Ly Twitter has agreed to pay $150 million after it was accused of having sold private information from users to target advertising, without ...
  • Biden’s ATF Pick, Senator Clash Over ‘Assault Weapon’ Definition During Judiciary HearingBiden’s ATF Pick, Senator Clash Over ‘Assault Weapon’ Definition During Judiciary Hearing
    By Joseph Lord The Senate Judiciary Committee on May 25 met to consider the nomination of Steven Dettelbach to be director of the Bureau of Alcohol, Firearms, ...
  • 18 Major Airlines, FAA, and DOT to Be Sued Over COVID Vaccine Mandates18 Major Airlines, FAA, and DOT to Be Sued Over COVID Vaccine Mandates
    By Enrico Trigoso John Pierce Law has filed a lawsuit against Atlas Air, on behalf of US Freedom Flyers (USFF) and Atlas employees, and plans ...
  • Ex-Clinton Lawyer Told Different Stories to Congress and FBI About Origin of Trump-Russia Info, Jury HearsEx-Clinton Lawyer Told Different Stories to Congress and FBI About Origin of Trump-Russia Info, Jury Hears
    By John Haughey and Zachary Stieber WASHINGTON—A lawyer representing Hillary Clinton’s campaign told members of Congress in 2017 that he took information about Donald Trump and Russia to the ...
  • Obama officials tried to ‘circumvent’ Trump’s foreign policyObama officials tried to 'circumvent' Trump's foreign policy
    By Bob Unruh Some officials from Barack Obama’s administration were actively trying to undermine the administration of President Donald Trump while he was in office, ...
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