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

DC mayor sued over ‘Black Lives Matter’ street painting

By Adam Shaw | Fox News A lawsuit is challenging Washington, D.C., Mayor Muriel Bowser’s move to paint “Black Lives Matter” in giant yellow letters down the ...

Trump responds to Milley apology for Lafayette Square photo op

By Brooke Singman | Fox News President Trump, in an extensive interview with Fox News, said he’s “fine” with Joint Chiefs of Staff Chairman Gen. Mark Milley’s move to ...

Trump responds to Biden’s claim that he’ll try to steal the election: ‘Joe’s not all there’

By Joshua Nelson | Fox News President Trump on Friday pushed back against presumptive Democratic presidential nominee Joe Biden for claiming the commander in chief would try to steal the ...

Mainstream media downplays ‘insanity in Seattle’ as critics point out bias, hypocrisy

By Brian Flood | Fox News Seattle protesters have declared a six-block area abandoned by law enforcement as “Capitol Hill Autonomous Zone,” but the mainstream media doesn’t seem to ...

Seattle law enforcement experts urge police to take back CHAZ before it’s too late

By Vandana Rambaran | Fox News Law enforcement officials are urging the Seattle Police Department to retake control of the East Precinct after hundreds of demonstrators overtook Monday the six-block area that ...

Stanford dean quotes fugitive cop killer in email to students about protests

By Caleb Parke | Fox News Stanford University’s College Republicans club is calling out the dean of students for quoting a convicted cop killer who is on ...

Seattle protesters storm City Hall, demand mayor resign after driving police out of area, declaring autonomous zone

By Vandana Rambaran | Fox News Hundreds of protesters, aided by a sympathetic City Council member, stormed Seattle’s City Hall Tuesday night to demand the mayor’s resignation, just ...

Jacksonville seen as ‘strong contender’ in RNC search for new convention site

By John Roberts, Paul Steinhauser | Fox News Republican Party officials are looking closely at Jacksonville, Fla., as they scramble to find a new location to host portions of this summer’s Republican ...

Messy Georgia primary raises alarms for November, as Ossoff edges closer to clinching Senate nomination

By Gregg Re | Fox News The Democratic Senate primary in Georgia was too early to call Wednesday, as Jon Ossoff held onto approximately 49 percent of the vote with more ...

Despite ‘defund police’ movement, Dems lead list of those taking cash from cop unions

By Tyler Olson | Fox News Amid calls to defund police and criticism of police unions from the left in the wake of George Floyd’s death, an analysis of donations ...

George W. Bush’s office calls claim he won’t back Trump ‘completely made up’

By Morgan Phillips | Fox News Former President George W. Bush’s office has pushed back on a widely circulated New York Times report saying Bush won’t vote for ...

Distraught Chicago officials heard on tape fuming over looting, riots: ‘My ward is a s–t show’

By Adam Shaw | Fox News Distraught Chicago officials complained to Mayor Lori Lightfoot — as looting and rioting in response to George Floyd’s death swept through the Windy City — ...