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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

  • ‘Soros-Funded’ DAs to Blame for ‘Violent Crime Spree’ Sweeping the Nation: House GOP‘Soros-Funded’ DAs to Blame for ‘Violent Crime Spree’ Sweeping the Nation: House GOP
    By Samantha Flom and Gary Bai NEW YORK—Rising crime around the United States can be attributed to the “soft-on-crime” policies of Democrat district attorneys funded ...
  • FBI Arrests 2 Over Secret Chinese Police Station in NYCFBI Arrests 2 Over Secret Chinese Police Station in NYC
    By Andrew Thornebrooke and Eva Fu NEW YORK—The FBI arrested two people on April 17 on charges of operating a secret police station in New ...
  • IRS Raked in Nearly $5 Trillion in Taxes From Americans Last YearIRS Raked in Nearly $5 Trillion in Taxes From Americans Last Year
    By Tom Ozimek The Internal Revenue Service (IRS) has released data on its operations showing that, during the 2022 fiscal year, the agency collected close ...
  • Shooting at Birthday Party in Alabama Leaves 4 Dead, 28 InjuredShooting at Birthday Party in Alabama Leaves 4 Dead, 28 Injured
    By Mimi Nguyen Ly Police in Alabama on April 16 were investigating a shooting that left four people dead and 28 others injured at a gathering in ...
  • Transgender Teacher Fired After Allegedly Threatening to Shoot StudentsTransgender Teacher Fired After Allegedly Threatening to Shoot Students
    By Lorenz Duchamps A transgender teacher at a Florida middle school was allowed to remain on campus for several weeks after allegedly making disturbing comments ...
  • DeSantis Makes First Stop in New Hampshire as Potential Presidential ContenderDeSantis Makes First Stop in New Hampshire as Potential Presidential Contender
    By Alice Giordano Florida Gov. Ron DeSantis was far away from home last night when he appeared at a New Hampshire dinner event, but that ...
  • Mike Pompeo Announces Decision on 2024 RunMike Pompeo Announces Decision on 2024 Run
    By Gary Bai Mike Pompeo, former U.S. Secretary of State under the Trump administration, announced on Friday that he will not run for president in ...
  • ANALYSIS: Trump Coverage Reveals How Media Frames and ExcludesANALYSIS: Trump Coverage Reveals How Media Frames and Excludes
    By Nathan Worcester News Analysis It’s been more than a week since the indictment of former President Donald Trump dominated the news cycle. What happened to the ...
  • New Tech Transforms Sea Water Into Hydrogen Fuel for CarsNew Tech Transforms Sea Water Into Hydrogen Fuel for Cars
    By Naveen Athrappully Researchers have come up with a new system that turns seawater into hydrogen fuel—a development that could aid in the proliferation of ...
  • Problems in Maricopa County Election Linked to Changes in Ballot PaperProblems in Maricopa County Election Linked to Changes in Ballot Paper
    By Jack Phillips Problems with ballot printers that caused lines to back up at some Phoenix-area polling places last year were due to changes to ...
  • Trump Spends 7 Hours Answering Questions in Deposition for $250 Million Fraud LawsuitTrump Spends 7 Hours Answering Questions in Deposition for $250 Million Fraud Lawsuit
    By Katabella Roberts Former President Donald Trump spent nearly seven hours on April 13 answering questions during his second deposition as part of a $250 million fraud ...
  • Absentee Voting From Abroad Presents Myriad of Fraud Vulnerabilities in US ElectionsAbsentee Voting From Abroad Presents Myriad of Fraud Vulnerabilities in US Elections
    By Beth Brelje Preliminary election results announced right after an election often include the caveat that officials still need to count the overseas military ballots ...
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