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

Tool for tracking coronavirus relief payments goes live

By Aimee Picchi Tool for tracking coronavirus relief payments goes live With millions of Americans eagerly awaiting their federal aid checks to help them weather the ...

Trump campaign slams Obama’s Biden endorsement: ‘Even Bernie Sanders beat him to it’

By Brooke Singman | Fox News The Trump campaign argued Tuesday that former President Barack Obama was forced to endorse Joe Biden after sitting on the sidelines for the entirety of the ...

Georgia state Democrat backs Trump for reelection, draws party’s wrath

By Dom Calicchio | Fox News A state lawmaker in Georgia drew backlash from fellow Democrats on Tuesday after endorsing President Trump for reelection. State Rep. Vernon Jones, whose Atlanta-area district includes parts ...

Former CNN pundit: Network is officially ‘Leftist State Media’ after Trump chyron coverage

By Brian Flood | Fox News CNN’s coverage of Monday’s White House coronavirus press briefing put a harsh spotlight on the network’s line-blurring between journalism and agenda-driven opinion, media experts tell ...

State Department leaked cables renew theories on origin of coronavirus

By Barnini Chakraborty | Fox News A Chinese laboratory at the center of new theories about how the coronavirus pandemic started was the subject of multiple urgent warnings inside the U.S. State ...

Coronavirus inmate release leaves LA in ‘uncharted territory,’ sheriff says about potential surge in crime

By Travis Fedschun | Fox News Thousands of non-violent inmates have been released from jails in Los Angeles County to prevent the spread of coronavirus, but the county sheriff said Monday he’s ...

Obama to endorse Biden, after months on 2020 campaign sidelines

By Paul Steinhauser, Mike Emanuel | Fox News Former President Barack Obama on Tuesday plans to formally endorse Joe Biden – his vice president and running mate through two terms and presidential ...

Sanders campaign reps revolt after Sanders endorses Biden, openly attack former vice president

By Gregg Re | Fox News Bernie Sanders endorsed Joe Biden for president on Monday, but any illusions that the move would bring an end to long-simmering tensions between ...

CNN missing in action on Biden assault accuser Tara Reade’s story

By Joseph A. Wulfsohn | Fox News It has been nearly three weeks since former congressional staffer Tara Reade spoke out about her 1993 sexual assault accusation ...

Coronavirus stay-at-home orders stir protests nationwide amid fears of economic collapse

By Andrew O’Reilly | Fox News At least 15,000 cars and trucks are expected to descend on Michigan’s state capital on Wednesday to protest what ...

Sanders endorses Biden for president, after suspending campaign

By Paul Steinhauser | Fox News Saying “we need you in the White House,” Sen. Bernie Sanders endorsed Joe Biden for president on Monday, less than a ...

Whistleblower nurse who spoke out about Mass. nursing home dies of coronavirus

By WCVB LITTLETON, Mass. — A nurse at a Massachusetts nursing home who spoke out about the conditions at the facility, which has been accused of ...