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

Sen. Wicker to ‘Stand Strong Against Proposals That Could Lead Our Country Toward Socialism’

By Zachary Stieber A Republican senator on Monday said he would “stand strong” against any proposals that could lead the United States “toward socialism.” The Senate will ...

Navarro: Trump ‘Itching to Defend Himself’ Against Impeachment

By Zachary Stieber President Donald Trump is eager to defend himself against accusations laid out by Democrats in a fresh impeachment push, a top adviser said ...

Trump Approval Rating Steady Despite Fallout From Capitol Breach: Rasmussen Poll

By Ivan Pentchoukov President Donald Trump’s approval rating has remained high despite a media frenzy surrounding the breach of the U.S. Capitol on Jan. 6 ...

Trump Awards Medal of Freedom to US Rep. Jim Jordan

By Zachary Stieber President Donald Trump has awarded the Presidential Medal of Freedom, the nation’s highest civilian honor, to Rep. Jim Jordan (R-Ohio). The Medal of Freedom, established by President John F. ...

Trump Not Resigning, Will ‘Not Leave the Public Stage at All:’ Gaetz

By Zachary Stieber President Donald Trump has no plans to resign and remains the most powerful, most influential Republican, Rep. Matt Gaetz (R-Fla.) said late Sunday. “I spoke with ...

Democrats Cannot Impeach Trump, and You Can’t Impeach Him After Leaving Office: Dershowitz

By Jack Phillips Harvard Law professor emeritus Alan Dershowitz said Democrats have virtually no chance of successfully impeaching and removing President Donald Trump before Inauguration Day on Jan. 20. “The ...

Graham Says He Is ‘More Determined’ to Roll Back Protections for Big Tech After Twitter Bans Trump

By Janita Kan Sen. Lindsey Graham (R-S.C.) said on Saturday that he was “more determined” to rollback liability protections for big tech companies after Twitter ...

Trump Orders Flags to Half-Staff to Honor Capitol Police Officers, Law Enforcement

By Ivan Pentchoukov President Donald Trump ordered U.S. flags across the nation and abroad to be flown at half-staff until Jan. 13 in honor of ...

Secretary Carson: Haven’t Talked About Using 25th Amendment

By Zachary Stieber One of President Donald Trump’s longest-tenured Cabinet members on Friday said he has not spoken with anybody about using the 25th Amendment to remove ...

Nikki Haley Likens Trump Twitter Ban to Act of Chinese Communist Party

By Zachary Stieber Social media companies banning President Donald Trump is something the Chinese Communist Party would do, former United Nations Ambassador Nikki Haley said Friday. “Silencing people, ...

Pompeo Calls Twitter’s Ban on Trump ‘Un-American,’ Compares It to Chinese Communist Censorship

By Eva Fu Twitter’s decision to permanently ban President Donald Trump is “un-American” and parallels censorship under communist China, Secretary of State Mike Pompeo said on Jan. ...

Man Who Posed for Photos at Desk in Pelosi’s Office Arrested

By Emel Akan WASHINGTON, DC — A man photographed sitting at House Speaker Nancy Pelosi’s desk during the D.C protests on Wednesday has been arrested and faces multiple charges, ...