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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

  • Facebook Silent on FBI Informants Using Platform to Push Whitmer Kidnap PlotFacebook Silent on FBI Informants Using Platform to Push Whitmer Kidnap Plot
    By Ken Silva On Oct. 28, 2020, Facebook CEO Mark Zuckerberg testified in Congress about what he was doing to monitor online extremism, citing his company’s work ...
  • Takeover Speculation Grows After Elon Musk Turns Down Twitter Board SeatTakeover Speculation Grows After Elon Musk Turns Down Twitter Board Seat
    By Andrew Moran Elon Musk will no longer join Twitter’s board of directors, the social network has officially announced. Twitter CEO Parag Agrawal confirmed on April 10 that Musk ...
  • Several People Shot, Explosives Found in Brooklyn Subway Station: FDNYSeveral People Shot, Explosives Found in Brooklyn Subway Station: FDNY
    By Jack Phillips Several people were shot and several explosive devices were reportedly found at a subway station in Brooklyn on Tuesday, said the Fire ...
  • California Looks to Reduce Weekly Work Hours to 32California Looks to Reduce Weekly Work Hours to 32
    By Alice Sun California legislators proposed a new bill that would allow employees of bigger companies to work fewer hours in a week without losing ...
  • 1,634 Non-Citizens Under Investigation for Attempting to Register to Vote in Georgia1,634 Non-Citizens Under Investigation for Attempting to Register to Vote in Georgia
    By Steven Kovac Georgia’s Secretary of State Brad Raffensperger has referred 1,634 cases of non-citizens attempting to register to vote for investigation and potential prosecution. Attempting ...
  • Texas Clogs Ports of Entry as State Forces Attention on Illegal ImmigrationTexas Clogs Ports of Entry as State Forces Attention on Illegal Immigration
    By Charlotte Cuthbertson Several ports of entry between Texas and Mexico have suffered major slowdowns in recent days as the Texas Department of Public Safety ...
  • Republicans Will ‘Make Biden a Moderate’ If They Retake Congress, McConnell SaysRepublicans Will ‘Make Biden a Moderate’ If They Retake Congress, McConnell Says
    By Bill Pan Senate Minority Leader Mitch McConnell (R-Ky.) vowed on Sunday that Republicans would force President Joe Biden to govern as “a moderate” if they secure a majority ...
  • ‘Something That’s Frightening’: Robert Epstein Warns Against Big Tech Manipulation‘Something That’s Frightening’: Robert Epstein Warns Against Big Tech Manipulation
    By Masooma Haq and Jan Jekielek A senior research psychologist at the American Institute for Behavioral Research and Technology, in California, Robert Epstein has been researching and ...
  • California, NY Failed in Handling COVID-19, Florida Among the Best: ReportCalifornia, NY Failed in Handling COVID-19, Florida Among the Best: Report
    By Jack Phillips California and New York handled COVID-19 lockdowns and restrictions the worst, according to a new report. Other than New York and California, New ...
  • ‘Something is up’: Jim Jordan spots major shift in Hunter Biden story'Something is up': Jim Jordan spots major shift in Hunter Biden story
    By Daniel Chaitin, Deputy News Editor A top House Republican thinks “something is up” as the federal investigation into Hunter Biden and his financial practices heats up. Rep. ...
  • Biden told to ‘reload brain’ before ‘shooting off mouth’Biden told to 'reload brain' before 'shooting off mouth'
    By Bob Unruh Joe Biden is being told to “reload” his brain before “shooting off” his mouth any more. The blunt, and insulting, comment comes from ...
  • US Warns Travelers of China’s ‘Arbitrary’ Enforcement of Laws and COVID-19 MeasuresUS Warns Travelers of China’s ‘Arbitrary’ Enforcement of Laws and COVID-19 Measures
    By Frank Fang The U.S. State Department on April 9 warned Americans to think twice before traveling to China owing to the Chinese regime’s “arbitrary” COVID-19 measures. ...
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