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Category: Economy

The US Economy

US employers hire 1.8M despite new COVID-19 shutdowns
Posted inEconomy

US employers hire 1.8M despite new COVID-19 shutdowns

USNN World Newsby USNN World NewsAugust 7, 2020December 5, 2024
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

Posts pagination

Newer posts 1 … 87 88 89 90 91 … 106 Older posts

NATIONAL NEWS

  • Trump Signs Order to Ramp Up US Production of Critical Earth MineralsTrump Signs Order to Ramp Up US Production of Critical Earth Minerals
    By Jacob Burg President Donald Trump signed an executive order on March 20 to boost the mining and production of critical minerals in the United ...
  • 68 Bridges Nationwide Need Urgent Evaluation in Wake of Baltimore Bridge Collapse, Says NTSB68 Bridges Nationwide Need Urgent Evaluation in Wake of Baltimore Bridge Collapse, Says NTSB
    By Rachel Acenas The National Transportation Safety Board (NTSB) issued an urgent safety recommendations to 30 owners of 68 bridges across 19 states to assess ...
  • Social Security Announces Cost Cutting Initiative Following AuditSocial Security Announces Cost Cutting Initiative Following Audit
    By Naveen Athrappully The Social Security Administration (SSA) on March 19 announced a plan to reduce costs and enhance security measures following stakeholder feedback and ...
  • Trump to Sign Order to Eliminate Department of EducationTrump to Sign Order to Eliminate Department of Education
    By Zachart Stieber and Emel Akan WASHINGTON—President Donald Trump is expected to sign an executive order on March 20 that will facilitate the dismantling of ...
  • Federal Judge Declines to Block Firing of US Institute of Peace LeadershipFederal Judge Declines to Block Firing of US Institute of Peace Leadership
    By Stacy Robinson A federal judge on March 19 decided not to block the Trump administration from firing the leadership of the U.S. Institute for ...
  • DOGE Says It Entered Peace Institute Building With Police Escort Amid Alleged StandoffDOGE Says It Entered Peace Institute Building With Police Escort Amid Alleged Standoff
    By Jack Phillips The Department of Government Efficiency (DOGE) said its staffers, along with acting U.S. Institute of Peace President Kenneth Jackson, entered the institute’s ...
  • DOGE Says ‘Major Cleanup’ of Social Security Records UnderwayDOGE Says ‘Major Cleanup’ of Social Security Records Underway
    By Jack Phillips The Elon Musk-led Department of Government Efficiency (DOGE) has said the Social Security Administration has undertaken a “major cleanup” of its records ...
  • What to Know About the Alien Enemies Act, a 1798 Law Invoked by TrumpWhat to Know About the Alien Enemies Act, a 1798 Law Invoked by Trump
    By Joseph Lord Enemies Act, a 1798 law providing for deportations of noncitizens during times of war or invasion. The proclamation targets members of the Tren ...
  • Democrats Wrestle With DOGE and MuskDemocrats Wrestle With DOGE and Musk
    By Nathan Worcester WASHINGTON—During the first two months of the second Trump administration, few issues have united Democrats like opposition to Elon Musk and his ...
  • More Than 250 Tren de Aragua Gang Members Deported to El Salvador Prison: RubioMore Than 250 Tren de Aragua Gang Members Deported to El Salvador Prison: Rubio
    By Jacob Burg Secretary of State Marco Rubio said on March 16 that the Trump administration had sent more than 250 Venezuelans accused of being ...
  • Trump Orders Military Strikes on Houthi TerroristsTrump Orders Military Strikes on Houthi Terrorists
    By T.J. Muscaro President Donald Trump announced on March 15 that he ordered the U.S. military to “launch decisive and powerful” action against Houthi terrorists ...
  • Trump Signs Order to Dismantle 8 Federal Agencies, Including VOA Parent EntityTrump Signs Order to Dismantle 8 Federal Agencies, Including VOA Parent Entity
    By Tom Ozimek President Donald Trump signed an executive order late Friday that seeks to dismantle eight federal agencies, with the latest action building on ...
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