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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

  • IRS Whistleblower Offers to Disclose Additional Hunter Biden WhatsApp Messages to CongressIRS Whistleblower Offers to Disclose Additional Hunter Biden WhatsApp Messages to Congress
    By Joseph Lord During a July 19 hearing of the House Committee on Oversight and Accountability, IRS whistleblower Joseph Ziegler said that there were WhatsApp ...
  • New Hampshire Gov. Chris Sununu Says He Will Not Run for ReelectionNew Hampshire Gov. Chris Sununu Says He Will Not Run for Reelection
    By Bill Pan New Hampshire Gov. Chris Sununu, who is serving his fourth term in office, has confirmed that he will not run for a ...
  • Judge Set to Issue Trial Date in Trump’s Classified-Records CaseJudge Set to Issue Trial Date in Trump’s Classified-Records Case
    By Janice Hisle A federal judge soon must make at least two key decisions that will set the stage for the historic Florida classified documents ...
  • House Republicans Reject Democratic Pressure to Disinvite RFK Jr. From Testifying on CensorshipHouse Republicans Reject Democratic Pressure to Disinvite RFK Jr. From Testifying on Censorship
    By Ryan Morgan Republicans on the House Select Subcommittee on the Weaponization of the Federal Government are moving ahead with plans to hear testimony from ...
  • Rep. Jordan Considers Holding Mark Zuckerberg in Contempt of CongressRep. Jordan Considers Holding Mark Zuckerberg in Contempt of Congress
    By Jack Phillips A top House Republican indicated that Meta Platforms and Facebook CEO Mark Zuckerberg could face a contempt of Congress citation if he ...
  • Merrick Garland and DOJ Sued for Not Requiring Hunter Biden to Register as a Foreign AgentMerrick Garland and DOJ Sued for Not Requiring Hunter Biden to Register as a Foreign Agent
    By Jack Phillips A lawsuit was filed Tuesday against Attorney General Merrick Garland and the Department of Justice (DOJ) in regard to allegations that the ...
  • Kennedy Inspiring a Different Kind of Crossover Voting Movement, Voters SayKennedy Inspiring a Different Kind of Crossover Voting Movement, Voters Say
    By Alice Giordano Robert F. Kennedy Jr. is inspiring a crossover voting movement among Republicans similar to those seen in past presidential primaries but with ...
  • Trump Received Letter Stating He Is Target of January 6 InvestigationTrump Received Letter Stating He Is Target of January 6 Investigation
    By Ivan Pentchoukov Former President Donald Trump said that he received a letter on July 17 informing him that he is a target of the ...
  • Tucker Carlson Warns Young Conservatives to Pay Attention to Topics With ‘Unapproved Words’Tucker Carlson Warns Young Conservatives to Pay Attention to Topics With ‘Unapproved Words’
    By Nanette Holt WEST PALM BEACH, Fla.—Since his separation from Fox News, political commentator Tucker Carlson hasn’t spoken much publicly—until this weekend. In a rare spurt ...
  • Billionaire Warns Hollywood Faces ‘Absolute Collapse’ If Strike Isn’t ResolvedBillionaire Warns Hollywood Faces ‘Absolute Collapse’ If Strike Isn’t Resolved
    By Jack Phillips A failure to resolve twin strikes of the writers’ and screen actors’ guilds could lead to “devastating effects” if no deal is reached ...
  • Military Families No Longer Want Their Children to EnlistMilitary Families No Longer Want Their Children to Enlist
    By J.M. Phelps More than two dozen military service members reached out to The Epoch Times, saying they are discouraging their children from donning the ...
  • Trump Opens Up About Mistakes Made During First TermTrump Opens Up About Mistakes Made During First Term
    By Joseph Lord President Donald Trump acknowledged that he made mistakes during his first term in office, saying that most issues arose from the people ...
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