USNN World News

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

Economy

SBA disaster loan investigation reveals rampant fraud: Report

by USNN World NewsJuly 29, 2020July 29, 2020

NATIONAL NEWS

CNN accused of pitting David Dorn’s family against each other following widow’s RNC speech

By Brian Flood | Fox News Media Research Center analyst Nicholas Fondacaro blasts Chris Cuomo. CNN was accused of “pitting different sides” of the late David Dorn’s family against each other after ...

Politico hammered for tweet saying Alice Johnson has been ‘propped up’ by Trump campaign

By Joseph A. Wulfsohn | Fox News ‘This is a disgusting racist headline,’ one critic reacted. Politico raised eyebrows Thursday night with its description of Alice Marie Johnson, who spoke at ...

Sen. Rand Paul thanks DC cops for saving him from ‘crazed mob’ after RNC

By David Aaro | Fox News U.S. Sen. Rand Paul, R-Ky., said he was attacked by a “crazed mob” of more than 100 people after leaving the White House following ...

New York Times reporter gaslighting readers with story on Trump’s LGBTQ record, critic says

By Brian Flood | Fox News ‘Trump’s history of being pro-gay dates back to long before Biden figured it was a political winner,’ Chris Barron said. New York Times reporter Maggie ...

Hurricane Laura brings tornado threat after Louisiana landfall, Lake Charles ‘severely damaged’

By Travis Fedschun, Janice Dean | Fox News Hurricane Laura made landfall in Cameron, La., with 150 mph winds. Heavy rains and winds battered Louisiana Thursday morning as a weakening Hurricane Laura roared ...

Elise Stefanik: Biden speaking out on violence after months of silence is ‘too little too late’

By Joshua Nelson | Fox News ‘This is going to become one of the key deciding issues as people head to the polls this November,’ she said. Democratic ...

Newsom skips question on ex-wife Guilfoyle’s RNC speech: ‘I respectfully defer’

By Evie Fordham | Fox News The pair were married from 2001 to 2005. Kimberly Guilfoyle, who was previously married to California Gov. Gavin Newsom before he became the state’s top ...

PBS reporter Yamiche Alcindor blasted for tweet knocking Cawthorn for standing during RNC remarks

By Joseph A. Wulfsohn | Fox News Cawthorn rose from his wheelchair exhorting Americans to ‘kneel before God but stand for our flag’. “PBS NewsHour” correspondent Yamiche Alcindor was heavily ...

Tom Cotton promises to ‘expose’ Biden as ‘weak and wrong for America’ in RNC speech

By Caleb Parke | Fox News The Army combat veteran says he will hit Joe Biden’s record on American security in RNC speech. Sen. Tom Cotton, R-Ark., told “Fox ...

Pence gets top billing on GOP convention’s third night

By Paul Steinhauser | Fox News Pence will use an ‘optimistic tone’ to lay out in detail Trump’s economic and foreign policy accomplishments. He always takes second billing ...

Trump says he wants drug tests before debates with Biden

By Andrew O’Reilly | Fox News Trump offered no evidence to support his claims that Biden took drugs. President Trump on Wednesday said he will request that both Democratic ...

Melania Trump urges end to unrest, calls on country to ‘come together’ in convention address

By Paul Steinhauser | Fox News The first lady also expressed her ‘deepest sympathy’ for those suffering or who’ve lost loved ones during the coronavirus pandemic. First lady ...