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

Ghislaine Maxwell being locked up in isolation for own safety, feds say

By Vincent Barone | New York Post Ghislaine Maxwell is being held in isolation from other inmates in a Brooklyn Federal jail for her own safety and the “orderly” function ...

‘The President Was Not Encouraging’: What Obama Really Thought About Biden

By Alex Thompson he way Joe Biden explained it on the campaign trail in Iowa, he and his friend Barack Obama had long talked of Biden succeeding ...

Trump slammed for not rejecting conspiracy theory Kamala Harris is ineligible for vice presidency

By Alex Pappas, Brooke Singman | Fox News Biden campaign calls Trump comments ‘abhorrent’ President Trump would not reject a conspiracy theory that Kamala Harris is ineligible to serve as vice president ...

Trump tells ‘Mornings with Maria’ Biden presidency would bring ‘biggest tax increase in history’

By Evie Fordham FOXBusiness President Trump said putting former Vice President Joe Biden in the White House would bring about the “biggest tax increase in history” on Thursday. EXTRA CORONAVIRUS ...

Kamala Harris’ flip-flops back under a microscope after VP selection

By Tyler Olson | Fox News Pot and ‘Medicare-for-all’ are among her most high-profile changes. Sen. Kamala Harris, who was officially announced as Joe Biden’s running mate Tuesday, has switched her stances on ...

Health questions for Biden off-limits for media, unlike Reagan, McCain and Trump

By Brian Flood | Fox News ‘At no time in recent memory has a presidential nominee’s physical and mental health been more important,’ professor says. The mainstream media has ...

Trump says ‘suburban housewife’ will vote for him over Biden, cites low-income housing policies

By Adam Shaw | Fox News ‘They want safety & are thrilled that I ended the long running program where low income housing would invade their neighborhood,’ ...

Joe Concha on Kamala Harris media coverage: Biden campaign ‘couldn’t write the narrative any better’

By Caleb Parke | Fox News Reporter said ‘cancel culture’ will shut down criticism of Harris. The mainstream media’s coverage of Sen. Kamala Harris, who was picked on Tuesday by Joe Biden as ...

Biden VP pick Harris promoted group that put up bail for alleged violent criminals

By Tyler Olson | Fox News One person bailed out: a twice-convicted rapist previously prosecuted by Amy Klobuchar. Sen. Kamala Harris, who Joe Biden picked on Tuesday to be his running ...

Kellyanne Conway: Democratic mayors starting to ‘lose it,’ realizing Trump will get 4 more years

By Caleb Parke | Fox News The counselor to the president suggests Democrats strikes deals, discuss issues instead of insulting Trump. Democratic mayors are “losing it” and attacking President ...

American taxpayers footing NYC’s bill to house the homeless in boutique hotels

By Hollie McKay | Fox News Advocates claimed housing more than 13,000 homeless New Yorkers in single-room, deluxe hotels will ‘bankrupt’ the city. Since the novel coronavirus began ...

Biden taps Kamala Harris as running mate, setting aside tensions from primary

By Paul Steinhauser | Fox News She makes history as the first Black woman to serve as a major political party’s VP pick. Kamala Harris, the politically shrewd California senator ...