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

Chris Stirewalt: Why Super Tuesday looks like it will backfire on Democrats

By David Montanaro | Fox News The move by some states – including California and Texas – to move up their primaries to Super Tuesday appears that it’s going to backfire ...

CPAC attendees rip Democrats over reaction to coronavirus: ‘It’s their next game’

By Victor Garcia | Fox News Fox News contributor and “Hannity” 2020 correspondent Lawrence Jones spoke Friday with attendees of this year’s Conservative Political Action Conference who are unhappy with Democrats ...

McCarthy predicts Democrats will lose House, says they have ‘surrendered to the socialists’

By Brooke Singman | Fox News NATIONAL HARBOR, Md.—House Republican Leader Kevin McCarthy boldly predicted Friday that Democrats will lose the majority in the House of Representatives ...

Some California health workers held in isolation, quarantine after exposure to cornavirus patient, officials say

By Louis Casiano | Fox News Dozens of health workers in Solano County, Calif., are under isolation and some will be quarantined after being exposed to a ...

Pence rallies CPAC crowd for 2020 Trump reelection: ‘Freedom works. Socialism doesn’t’

By Brooke Singman | Fox News Vice President Mike Pence rallied the audience at the Conservative Political Action Conference Thursday against socialism, saying “freedom always wins” as he made the case ...

Bloomberg pressures Sanders to release full medical records after doctor declares billionaire is in ‘outstanding health’

By Vandana Rambaran | Fox News Michael Bloomberg’s campaign called on his 2020 Democratic rival Sen. Bernie Sanders, I-Vt., to release further information on his heart health, after ...

Sen. Lindsey Graham: Biden will win SC primary ‘by double digits,’ but Dem nomination is Bernie’s to lose

By Victor Garcia | Fox News Sen. Lindsey Graham, R-S.C., joined “The Story with Martha MacCallum” Saturday to preview Saturday’s South Carolina Democratic primary, which he predicted former Vice ...

Whistleblower says HHS sent workers to handle possible coronavirus patients without gear, training

By Gregg Re | Fox News The Department of Health and Human Services “improperly deployed” more than a dozen workers to two California military bases receiving Americans evacuated from coronavirus ...

5 Milwaukee shooting victims identified, suspected gunman was 17-year electrician at brewery

By Louis Casiano | Fox News Milwaukee authorities have identified the five victims who were killed by a co-worker during a shooting rampage at the Molson Coors ...

Trump says Pelosi trying to create ‘panic’ with coronavirus comments

By Andrew O’Reilly | Fox News President Trump accused House Speaker Nancy Pelosi on Wednesday of trying to create a panic around the coronavirus outbreak after the California Democrat criticized the White ...

Trump sues New York Times for libel over Russia ‘conspiracy’ op-ed

By Gregg Re | Fox News The Trump campaign has filed a libel lawsuit against what it called the “extremely biased” New York Times, saying the paper’s March 27, 2019 op-ed ...

Marc Thiessen: The actual cost of Bernie Sanders’ spending plans is ‘terrifying’

By Joshua Nelson | Fox News Following a contentious Democratic primary debate in South Carolina, Fox News contributor Marc Thiessen on Wednesday argued that the cost of Sen. Bernie ...