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Category: Economy

The US Economy

GOP senators pitch extending extra unemployment aid through end of year
Posted inEconomy

GOP senators pitch extending extra unemployment aid through end of year

USNN World Newsby USNN World NewsAugust 6, 2020August 6, 2020
Capital One slapped with $80M fine for 2019 data hack
Posted inEconomy

Capital One slapped with $80M fine for 2019 data hack

USNN World Newsby USNN World NewsAugust 6, 2020August 6, 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 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
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
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
White House considering unilateral actions with coronavirus aid bill stuck in Congress
Posted inEconomy

White House considering unilateral actions with coronavirus aid bill stuck in Congress

USNN World Newsby USNN World NewsAugust 3, 2020August 3, 2020
Democrats, White House still at odds over extra coronavirus unemployment benefits
Posted inEconomy

Democrats, White House still at odds over extra coronavirus unemployment benefits

USNN World Newsby USNN World NewsAugust 2, 2020August 2, 2020
Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill
Posted inEconomy

Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill

USNN World Newsby USNN World NewsAugust 1, 2020August 1, 2020
Trump says second stimulus check could be 'way higher' than $1,200
Posted inEconomy

Trump says second stimulus check could be ‘way higher’ than $1,200

USNN World Newsby USNN World NewsJuly 30, 2020July 30, 2020
Lawmakers face a tight deadline
Posted inEconomy

Trump calls GOP coronavirus proposal ‘semi-irrelevant’ as deal appears far off

USNN World Newsby USNN World NewsJuly 29, 2020July 29, 2020
SBA disaster loan investigation reveals rampant fraud: Report
Posted inEconomy

SBA disaster loan investigation reveals rampant fraud: Report

USNN World Newsby USNN World NewsJuly 29, 2020July 29, 2020

Posts pagination

Newer posts 1 … 83 84 85 86 87 … 102 Older posts

NATIONAL NEWS

  • Biden Breaks Silence on Special Counsel Investigation of SonBiden Breaks Silence on Special Counsel Investigation of Son
    By Catherine Yang In President Joe Biden’s first public answer since a special counsel was appointed to investigate his son Hunter Biden’s financial dealings, the ...
  • Trump’s GOP Rivals to Gather in Atlanta to CampaignTrump's GOP Rivals to Gather in Atlanta to Campaign
    By Catherine Yang Just 10 miles from the county jail where former President Donald Trump needs to surrender by next Friday over racketeering charges brought ...
  • White House Chief Legal Counsel to Depart as House GOP Probes Ramp UpWhite House Chief Legal Counsel to Depart as House GOP Probes Ramp Up
    By Savannah Hulsey Pointer The chief legal counsel of the White House is set to depart in the coming month after a tenure of almost ...
  • Like Meadows, Trump Can Try Nixing Georgia Case Through Federal ‘Removal’: Appellate LawyerLike Meadows, Trump Can Try Nixing Georgia Case Through Federal ‘Removal’: Appellate Lawyer
    By Petr Svab Former President Donald Trump may be able to extricate himself from charges in Georgia related to his efforts to reverse the results ...
  • Hunter Biden Tax Charges Dropped by Delaware JudgeHunter Biden Tax Charges Dropped by Delaware Judge
    By Katabella Roberts A federal judge in Delaware dismissed misdemeanor tax charges against Hunter Biden on Aug. 17 in a move that was widely expected ...
  • Former AG Barr Says Trump’s Georgia Indictment ‘Too Broad,’ Likely Not Triable Before 2024 ElectionFormer AG Barr Says Trump's Georgia Indictment 'Too Broad,' Likely Not Triable Before 2024 Election
    By Katabella Roberts Former Attorney General William Barr believes the Georgia election indictment of former President Donald Trump and 18 co-defendants is “too broad” and ...
  • Top Republican Seeks Records of Biden’s Use of Pseudonym While VPTop Republican Seeks Records of Biden's Use of Pseudonym While VP
    By Zachary Stieber A top Republican is demanding records from the U.S. National Archives and Records Administration after learning President Joe Biden used a pseudonym ...
  • Georgia Senator Demands Special Session to Investigate, Possibly Impeach Fani WillisGeorgia Senator Demands Special Session to Investigate, Possibly Impeach Fani Willis
    By Tom Ozimek Georgia Republican state Sen. Colton Moore is demanding a special emergency legislative session to investigate the actions of Fulton County District Attorney ...
  • Judge Orders Sealed Hearing for Protective Order in Trump Classified Documents CaseJudge Orders Sealed Hearing for Protective Order in Trump Classified Documents Case
    By Catherine Yang U.S. District Judge Aileen Cannon canceled a scheduled Aug. 25 hearing and ordered a sealed hearing on a request for a protective ...
  • One Organization’s Efforts May Have Tipped 2020 Election to Democrats, Report SaysOne Organization's Efforts May Have Tipped 2020 Election to Democrats, Report Says
    By Nathan Worcester A new report from the Capital Research Center has shed light on the Everybody Votes campaign, also known as the Voter Registration ...
  • What We Know About Fani Willis, the Prosecutor Leading the Georgia Election Case Against Donald TrumpWhat We Know About Fani Willis, the Prosecutor Leading the Georgia Election Case Against Donald Trump
    By Katabella Roberts Former President Donald Trump was indicted for the fourth time this year on Aug. 14, this time as part of Fulton County ...
  • US Will ‘No Longer Be a Constitutional Republic’ If Trump Sentenced in Georgia Case, Spokeswoman WarnsUS Will 'No Longer Be a Constitutional Republic' If Trump Sentenced in Georgia Case, Spokeswoman Warns
    By Katabella Roberts and Joshua Philipp The United States will “no longer be a constitutional republic” and will become politically unstable if former President Donald Trump is ...
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