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

Georgia House Passes Omnibus Election Reform Bill

By Mimi Nguyen Ly Georgia’s House of Representatives passed an omnibus bill that would reform a range of election rules, including over absentee voting, voter ID ...

Democratic NY State Senator Calls for Cuomo’s Resignation

By Jack Phillips New York state Sen. Alessandra Biaggi, a Democrat, called on New York Gov. Andrew Cuomo to resign following sexual harassment allegations against the Democratic governor. “As ...

Trump: Big Tech Companies ‘Should Be Punished’ for Censoring Conservative Voices

By Janita Kan Big tech companies such as Twitter, Google, and Facebook should face major penalties if they continue to engage in censorship of conservative ...

Environment Improved Under Trump Administration: Former EPA Head

By Zachary Stieber and Jan Jelielek Former President Donald Trump’s policies helped improve the environment, his former Environmental Protection Agency (EPA) administrator said over the weekend. “All the environmental ...

Verizon support says you should turn off 5G to save your phone’s battery

By Kim Lyons This, despite the carrier’s relentless promotion of its 5G network. Despite its relentless promotion of 5G phones and the fact that it spent more than $45 ...

Trump Mulls White House Bid in CPAC Speech: ‘I May Even Decide to Beat Them for Third Time’

By Jack Phillips Former President Donald Trump delivered his first major speech after leaving office, charting a path forward for the Republican Party and conservatives but suggested ...

Trump Endorses Former Aide Max Miller Against GOP Rep. Who Voted for Impeachment

By Mimi Nguyen Ly Former President Donald Trump on Friday endorsed his former aide, Max Miller, in his primary challenge of incumbent Rep. Anthony Gonzalez (R-Ohio), who ...

Trump ‘Planning for the Next Administration’: Former Chief of Staff Mark Meadows

By Samuel Allegri Mark Meadows, the chief of staff of former President Donald Trump, said that they will be moving forward with the “America First” ...

Judge Rules Arizona’s Maricopa County Must Turn Over 2.1 Million November Election Ballots to Senate

By Jack Phillips A judge on Friday ruled that Maricopa County must provide some 2.1 million ballots from the Nov. 3 election to the Arizona state Senate ...

Hawley Proposes $15 Minimum Wage for Billion-Dollar Corporations

By Tom Ozimek Sen. Josh Hawley (R-Mo.) on Friday announced legislation that would force big companies to pay their workers a $15 minimum wage. Hawley’s plan targets corporations with ...

Rep. Scalise Releases Timeline of Cuomo’s Nursing Home Death Toll ‘Cover-Up’

By Tom Ozimek House Minority Whip Steve Scalise (R-La.) on Thursday ramped up his criticism of New York Gov. Andrew Cuomo’s handling of the nursing home COVID-19 deaths, ...

Federal Judge Rules Nationwide Eviction Ban Is Unconstitutional

By Janita Kan A judge in Texas on Thursday ruled that the federal government does not have the authority to issue a nationwide eviction moratorium. U.S. District Judge ...