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 Orders Declassification of FBI’s Crossfire Hurricane Russia Investigation

By Jack Phillips President Donald Trump on Tuesday signed a memorandum to declassify files and documents related to the FBI’s Crossfire Hurricane investigation that probed ...

Republicans Introduce ‘Dismantle DEI Act’ to Bolster Trump Agenda

By Nathan Worcester WASHINGTON—Sen. Eric Schmitt (R-Mo.) and Rep. Michael Cloud (R-Texas) have introduced legislation to complement the Trump administration’s push against diversity, equity, and ...

Think Tank Projects Debt Limit to Be Reached by October at Latest

By Jackson Richman The debt ceiling is set to be reached between mid-July and early October, according to a March 24 projection by the Bipartisan ...

Trump Directs Top Officials to Take Action Against Lawyers Violating Rules

By Zachary Stieber President Donald Trump has ordered two top officials to take action against lawyers and law firms he says are violating the law ...

Former Federal Prosecutor, 43, Found Dead in Virginia Home

By Ryan Morgan Police have launched an investigation after a former federal prosecutor was found dead inside her home in Alexandria, Virginia, on Saturday morning. At ...

Cartels’ Advanced Technology a Growing Threat to US

By Darlene McCormick Sanchez South Texas rancher Antonio Céspedes Saldierna, 74, was driving his pickup on his ranch in Mexico when his vehicle ran over ...

ICE Arrests 68 Tren de Aragua Gang Members

By Naveen Athrappully Federal authorities arrested 68 members of the notorious gang Tren De Aragua this week, according to a new report from the Department ...

Trump Orders Full Access to Unclassified Federal Data for Designated Officials

By Bill Pan In a lesser-noticed executive order issued on March 20, President Donald Trump directed federal agencies to grant his designees complete access to ...

Trump Says He Will Personally Cover Returned Astronauts’ Overtime Pay If NASA Doesn’t

By T.J. Muscaro NASA astronauts Butch Wilmore and Suni Williams should be paid more after their eight-day test flight of the Boeing Starliner spacecraft turned ...

DOGE Official Says IRS Can’t ‘Perform Basic Functions’ Without Billions for Consultants

By Jack Phillips A Department of Government Efficiency (DOGE) representative said that the IRS has a number of decades-old, infrastructure-related problems and said that recent ...

Trump Takes 2-Pronged Approach to Reduce Education Department

By Aaron Gifford During an Oval Office meeting earlier this year, President Donald Trump’s plans for the Department of Education appeared ambiguous. He didn’t rule out ...

JFK Files Leave Researchers With More Questions Than Answers

By Travis Gillmore WASHINGTON—Thousands of pages of documents related to the assassination of President John F. Kennedy on Nov. 22, 1963, were released late in ...