Economy - USNN World News

Economy

US employers hire 1.8M despite new COVID-19 shutdowns

by USNN World NewsAugust 7, 2020December 5, 2024

Economy

GOP senators pitch extending extra unemployment aid through end of year

by USNN World NewsAugust 6, 2020August 6, 2020

Economy

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

by 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.”

Economy

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

by USNN World NewsAugust 5, 2020August 5, 2020

Economy

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

by USNN World NewsAugust 5, 2020August 19, 2024

Economy

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

by USNN World NewsAugust 5, 2020August 5, 2020

Economy

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

by USNN World NewsAugust 4, 2020December 5, 2024

Economy

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

by USNN World NewsAugust 3, 2020August 3, 2020

Economy

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

by USNN World NewsAugust 2, 2020August 2, 2020

Economy

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

by USNN World NewsAugust 1, 2020August 1, 2020

Economy

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

by USNN World NewsJuly 30, 2020July 30, 2020

Economy

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

by USNN World NewsJuly 29, 2020July 29, 2020

NATIONAL NEWS

Trump Criticizes Ohio Democrats for ‘Misrepresenting’ Visit at Dayton Hospital

BY JANITA KAN President Donald Trump has criticized two Ohio Democrats who accompanied him during his visit at a Dayton hospital to meet with first responders and ...

Steve Ronnebeck, Whose Son Was Murdered by an Illegal Immigrant, Kicks Off Race for Congress Seat

BY ZACHARY STIEBER Steve Ronnebeck, whose son was shot dead by an illegal immigrant, kicked off the race for an Arizona Congressional seat this week, about two weeks ...

President and First Lady Visit Victims and Thank First Responders at Dayton Hospital

BY IVAN PENTCHOUKOV President Donald Trump and First Lady Melania Trump on Aug. 7 met with victims and thanked first responders and hospital staff at a Dayton hospital ...

Trump Notes Dayton Shooter Had History of Supporting Antifa, Elizabeth Warren

BY ZACHARY STIEBER President Donald Trump noted that the alleged Dayton, Ohio, shooter expressed support for Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) in addition ...

Conservatives Mobilize Against Republicans Supporting ‘Red Flag’ Gun Confiscation Law

BY PATRICK HOWLEY Pro-gun activists are launching a nationwide pressure campaign to stop a proposed “red flag” bill announced in the U.S. Congress by Sens. Lindsey ...

Joaquin Castro outed one of his own donors in bid to shame Trump supporters

By Brooke Singman | Fox News EXCLUSIVE: Trump donors whose names and employers were posted in a highly controversial tweet by Democratic Rep. Joaquin Castro blasted the Texas congressman on ...

Biden says he’s coming for assault weapons, as 2020 Dems urge new ban in wake of shootings

By Paul Steinhauser | Fox News The horrific mass shootings in El Paso and Dayton that left 31 people dead and dozens more injured have thrust the issue of gun violence into ...

El Paso shooting Walmart employee helped up to 100 escape, says he was ‘trained the customers come first’

By Travis Fedschun | Fox News As a massacre unfolded at a Walmart in Texas during the weekend, a longtime store associate said he let his training take over: Putting the customers first. Gilbert Serna, a ...

Sanders, Harris and Booker stump at church whose pastor said being gay is ‘enough to send you to hell’

By Andrew O’Reilly | Fox News Three leading Democratic presidential candidates – all ardent supporters of LGBTQ rights – have made campaign stops in the last two ...

Trump slams Google over alleged political bias: We’re watching ‘very closely’

By James Rogers | Fox News President Trump has slammed Google and its CEO Sundar Pichai in the wake of recent allegations of anti-conservative bias at the tech giant. In a series ...

New York Times headline of Trump’s remarks on mass shootings ignites backlash

By Gerren Keith Gaynor | Fox News A New York Times headline about President Trump’s remarks on the recent mass shootings in El Paso and Dayton drew condemnation online ...

WSJ: The Dayton killer was a left-winger, but don’t blame Elizabeth Warren

By Wall Street Journal Editorial Board | The Wall Street Journal Police in Dayton say they’re still seeking a motive for Connor Betts’ shooting spree that killed nine people, ...