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Category: Economy

The US Economy

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
SBA disaster loan investigation reveals rampant fraud: Report
Posted inEconomy

SBA disaster loan investigation reveals rampant fraud: Report

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

  • Oregon drivers stopped at gunpoint by groups protecting wildfire ravaged properties from looters: sheriffOregon drivers stopped at gunpoint by groups protecting wildfire ravaged properties from looters: sheriff
    By Danielle Wallace | Fox News The Clackamas County Sheriff’s Office responded to more than 330 calls for service over the past week – a 400% increase ...
  • Trump to preside over signing of historic Middle East deals at White HouseTrump to preside over signing of historic Middle East deals at White House
    By Adam Shaw | Fox News President Trump will preside over the signing of two historic deals between Israel and two Gulf nations at the White House on Tuesday – a ...
  • Kamala Harris accidentally touts plans under a ‘Harris administration’ during virtual roundtableKamala Harris accidentally touts plans under a 'Harris administration' during virtual roundtable
    By Joseph A. Wulfsohn | Fox News ‘Joe better hire a food taster,’ one critic advised the former VP. Kamala Harris, Joe Biden’s running mate in the 2020 election, raised ...
  • Wounded hero LA County sheriff’s deputy identified, was librarian before joining police forceWounded hero LA County sheriff's deputy identified, was librarian before joining police force
    By Stephanie Pagones | Fox News Claudia Apolinar is being lauded for her ‘intestinal fortitude’. One of the sheriff’s deputies ambushed Saturday night by a brazen gunman previously worked as a librarian ...
  • New House bill would create payroll tax holiday for American workersNew House bill would create payroll tax holiday for American workers
    By Megan Henney FOXBusiness Americans would receive a four-month pay raise under Rep. Brady’s bill. A top House Republican introduced legislation that would create a temporary payroll tax holiday from Sept. 1 ...
  • Bob Woodward maintains he did nothing wrong by sitting on Trump audioBob Woodward maintains he did nothing wrong by sitting on Trump audio
    By Brian Flood | Fox News ‘Historians are going to be writing about the whole lost month of February for tens of years,’ he said. Veteran journalist Bob Woodward maintained Monday that ...
  • Biden pushes gun control less than 24 hours after attempted assassination on deputiesBiden pushes gun control less than 24 hours after attempted assassination on deputies
    By Bradford Betz | Fox News Trump has used the ambush to portray Biden as weak on crime. Democratic presidential nominee Joe Biden on Sunday called for gun control less ...
  • New details on condition of LA deputies attacked in patrol car, huge reward offered for info on triggermanNew details on condition of LA deputies attacked in patrol car, huge reward offered for info on triggerman
    By Stephanie Pagones | Fox News Both sheriff’s deputies now listed in stable condition. Los Angeles police officials have announced a $100,000 reward for information that leads them to the gunman ...
  • Trump calls for swift justice in shooting of ambushed deputies as manhunt intensifies in LATrump calls for swift justice in shooting of ambushed deputies as manhunt intensifies in LA
    By Andrew O’Reilly | Fox News Authorities have offered a $100,000 for information leading to an arrest and conviction. President Trump argued on Sunday for tougher criminal sentencing guidelines ...
  • Republicans demand answers on Mueller team wiping phones, suggest ‘anticipatory obstruction of justice’Republicans demand answers on Mueller team wiping phones, suggest 'anticipatory obstruction of justice'
    By Brooke Singman | Fox News Congressional Republicans call the purported accidental ‘wiping’ an ‘amazing coincidence’. Congressional Republicans demanded answers on Friday as to whether there “was a ...
  • Libertarians pick first female presidential nomineeLibertarians pick first female presidential nominee
    By Paul Steinhauser | Fox News Newly minted Libertarian Party presidential nominee Jo Jorgensen is touting that she’s the “freedom” candidate. “The choice isn’t one or the other but the ...
  • CBS reporter tweets about Biden not ‘outworking’ TrumpCBS reporter tweets about Biden not 'outworking' Trump
    By Morgan Phillips | Fox News CBS reporter Kathryn Watson questioned why Joe Biden wasn’t campaigning more after news broke that the former vice president was not expected to ...
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