USNN World News

Economy

Trump officials recommend executive action as stimulus talks break down

by USNN World NewsAugust 7, 2020August 7, 2020

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

NATIONAL NEWS

Republican Lawmakers Warn Against Biden Administration Pushing Critical Race Theory in Education

By GQ Pan A pair of Republican congressmen are calling on the Department of Education to reconsider spending federal dollars to promote critical race theory in civics ...

Judge Rejects Democrats’ Bid to Immediately Halt Arizona 2020 Election Audit

By Zachary Stieber An Arizona judge on April 28 rejected an attempt by the Arizona Democratic Party to immediately halt an audit of the 2020 election in ...

Biden’s First 100 Days a Radical Transformation of America

By Ivan Pentchoukov President Donald Trump and conservative pundits warned for months during the 2020 campaign that behind then-candidate Joe Biden’s centrist, bipartisan façade lay ...

Biden Eyes Expanding Welfare State, Overturning Clinton-Era Reform

By Emel Akan WASHINGTON, DC — President Bill Clinton in 1996 signed welfare reform into law, fulfilling his campaign promise to “end welfare as we know it.” A quarter-century ...

Governor Signs Bill Making Oklahoma a Second Amendment Sanctuary State

By Mimi Nguyen Ly Oklahoma Gov. Kevin Stitt on Monday signed into law a bill that makes the state a Second Amendment Sanctuary State. “My team is hard ...

North Dakota Declared a ‘Second Amendment Sanctuary State’

By Janita Kan North Dakota has been designated a “Second Amendment sanctuary state” after its governor signed a proclamation reiterating the state’s support for gun rights. The proclamation signed ...

Arizona AG Rejects Secretary of State’s Call for Probe of GOP-Led Maricopa County Vote Audit

By Tom Ozimek Arizona’s attorney general has rejected the state’s top election official’s call for an investigation into possible irregularities in a Republican-led audit of 2020 election ...

Rep. Waters: Chauvin Trial Judge Was ‘Way Off Track’ With Appeal Comment

By Zachary Stieber Rep. Maxine Waters (D-Calif.) said Saturday that the Minnesota judge overseeing the trial of former Minneapolis police officer Derek Chauvin was “way off track” in saying ...

FBI Releases Documents on Investigation Into Death of Democrat National Committee Worker Seth Rich

By Zachary Stieber The FBI has produced 68 pages relating to a Democrat National Committee (DNC) worker who was shot dead in 2016 in Washington, including an ...

Texas Sues Biden Administration for Allegedly Disregarding COVID-19 Rules at Border

By Zachary Stieber The attorney general of Texas on Thursday sued President Joe Biden’s administration for allegedly flouting its own COVID-19 rules in handling the surge of illegal ...

Parents Organize to Push Back Against Critical Race Theory

By Petr Svab A growing number of American parents are getting together to find ways to block the spread of the quasi-Marxist critical race theory (CRT) in ...

Arizona Democrats File Last Minute Lawsuit Seeking to Block 2020 Election Audit

By Mimi Nguyen Ly The Arizona Democratic Party filed a lawsuit on Thursday seeking to stop the state’s Senate from carrying out an audit of the 2020 election results ...