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

Biden Signs Election Executive Order to Increase Voting by Criminals

By Ivan Pentchoukov President Joe Biden signed an executive order on March 7 altering the way the federal government handles elections, including by increasing voting and voter registration access ...

Supreme Court Dismisses Lin Wood Election Lawsuit Without Comment

By Jack Phillips The Supreme Court on Monday morning dismissed a Nov. 3 election-related case filed by defamation lawyer Lin Wood. The high court did not issue a ...

California City Mayor Pro Tem Resigns After Pleading Guilty to Election Fraud

By Jack Phillips The mayor pro tem of a Northern California city resigned after he pleaded guilty to election fraud, according to local reports last week. Crescent City Mayor ...

Graham: Trump Could Make GOP Bigger and Stronger, or He Could Destroy It

By Janita Kan Sen. Lindsey Graham (R-S.C.) said he thinks former President Donald Trump could make the Republican Party “bigger” and “stronger,” or lead the party to ...

Conservative Nonprofit to Launch $10 Million Campaign to Strengthen Election Integrity: Report

By Tom Ozimek Conservative nonprofit Heritage Action for America is on Monday expected to announce plans to spend $10 million on a wide-ranging election integrity campaign to ...

White House Says Relief Bill Remains ‘Incredibly Progressive’ Despite Senate Compromises

By Tom Ozimek White House spokesperson Jen Psaki said Friday that the $1.9 trillion relief package—panned by Republicans as a liberal wish list packed with non-pandemic-related spending ...

White House Sidesteps Question Over Rising Gas Prices

By Bowen Xiao The White House on March 4 sidestepped questions about whether President Joe Biden was doing anything to curb rising gas prices, as those ...

Supreme Court Dismisses ‘Sanctuary City’ Cases at Request of Biden’s DOJ

By Tom Ozimek The Supreme Court has dismissed three pending requests to hear challenges to the Trump administration’s order to withhold millions of dollars in law enforcement ...

Pelosi’s $140 Million Silicon Valley Subway Earmark Nixed by Senate Parliamentarian

By Mark Tapscott Big trouble appears to be brewing in the U.S. Senate over the $1.9 trillion “American Rescue Plan” for CCP virus relief approved by House ...

Republicans on the Hill Too Quick to Exile Trump: McEnany

By Li Hai Some Republicans in Congress have been too quick to exile former President Donald Trump, former White House press secretary Kayleigh McEnany told Fox News ...

Texas Governor Ends Statewide Mask Mandate, Allows All Businesses to Fully Reopen

By Zachary Stieber The governor of Texas on Tuesday ended his statewide mask mandate while allowing all businesses in the state to fully reopen. “With the medical advancements of vaccines ...

Third Woman Accuses Cuomo of Making Unwanted Advances

By Isabel Van Brugen A third woman has come forward with harassment allegations against New York Gov. Andrew Cuomo, as calls for the Democrat’s resignation continue to grow. Anna ...