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

US Imposes Visa Restrictions on Family Members, Associates of Sanctioned Drug Traffickers

By Aldgra Fredly The United States will implement a new visa restriction policy targeting the relatives and business associates of foreign nationals sanctioned for drug ...

The Secret 15-Year Plan Behind US Strikes on Iran

By Ryan Morgan WASHINGTON—The United States’ B-2 stealth bomber strike on Iran’s Fordow uranium enrichment facility was the culmination of more than 15 years of ...

Food Independence Summit Teaches a Return to Self-Sufficient Roots

By Jeff Louderback WALNUT CREEK, Ohio—Decades ago, many Americans knew the origin of their food. They lived in rural areas, grew their own food, and ...

FBI Official Says 449 Alleged Child Predators Arrested in 2 Operations

By Jack Phillips FBI Deputy Director Dan Bongino said this week that 449 child sexual predators were arrested and more than 200 children were rescued ...

Gabbard Says ‘New Intelligence’ Shows Iran Nuclear Facilities Destroyed

By Jack Phillips Director of National Intelligence Tulsi Gabbard said on Wednesday that new intelligence has shown that U.S. strikes on Iran set back the ...

Rare Earth Startups Say Without Subsidies and Support, US Can’t Shake China’s Control

By John Haughey Without a federally supported market and strategic reserve stockpile, the United States will remain reliant on China for critical minerals and rare ...

DHS Warns of Enhanced Cyber, Terror Risk After US Strikes on Iran

By Joseph Lord The Department of Homeland Security (DHS) is warning Americans of an enhanced threat environment for cyber attacks or violence within the United ...

Major US Cities on Alert After US Airstrikes on Iranian Nuclear Facilities

By Jack Phillips Three major U.S. cities indicated that they’re on heightened alert following U.S. military airstrikes targeting Iranian nuclear facilities on June 21. In an ...

DOL Suspends Enforcement of Biden-Era Farmworker Rule

By Aldgra Fredly The Department of Labor said on Friday that it was suspending a Biden-era regulation aimed at providing workplace organizing protections to foreign ...

FCC Reviews ‘Internet of Things’ Accrediting Program Over China Security Concerns

By Lily Zhou The Federal Communications Commission (FCC) is reviewing a cybersecurity program over security concerns related to China, FCC Chairman Brendan Carr confirmed on ...

Trump Says Trade Deals Expected With India and Pakistan

By Tom Ozimek President Donald Trump said on June 20 that he expects the United States will sign trade deals with both India and Pakistan, ...

Senate Republicans Introduce Bill to Protect US Military Sites From Foreign Adversaries

By Katabella Roberts Senate Republicans have introduced a bill aimed at protecting sensitive military sites across the United States from foreign adversaries such as China, ...