USNN World News

Economy

Trump officials recommend executive action as stimulus talks break down

by USNN World NewsAugust 7, 2020August 7, 2020

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

NATIONAL NEWS

Lindsey Graham: ‘Loves’ Joe Biden, But ‘None of Us Are Above Scrutiny,’ Begins Investigation

By ISABEL VAN BRUGEN Sen. Lindsey Graham (R-S.C.) on Dec. 15 said that while he “loves” former Vice President and 2020 presidential candidate Joe Biden, ...

Celadon Trucking Bankruptcy Leaves Some 3,000 Drivers Jobless, Stranded: Reports

By Jack Phillips Days after one of the largest trucking companies in the United States went bankrupt, drivers have described total chaos. Celadon Group Inc. filed ...

Schiff Claims He Was ‘Unaware Of’ FBI’s Abuse of FISA System in Surveilling Trump Aide

By Zachary Stieber House Intelligence Chairman Adam Schiff (D-Calif.) claimed ignorance of how the FBI abused the Foreign Intelligence Surveillance Act (FISA) in surveilling a Donald ...

Dershowitz spars with former law student, CNN analyst over impeachment: ‘C’mon Alan’

By Sam Dorman | Fox News Harvard Law Professor Alan Dershowitz debated Democrats’ impeachment push with CNN Chief Legal Analyst Jeffrey Toobin, who also happens to be his former law student. Toobin and ...

VIRGINIA GOVERNOR REPORTEDLY ORDERS PLANS TO CUT ELECTRIC, PHONES, INTERNET FOR GUN CONFISCATIONS!

By Hal Turner Radio Show News Desk The Governor of Virginia has allegedly ordered a small cadre of staffers to begin the process for determining ...

Nunes tells Schiff he needs ‘rehabilitation’ after IG report: ‘Admit you have a problem’

By Ronn Blitzer | Fox News House Intelligence Committee ranking member Rep. Devin Nunes, R-Calif., told committee chairman Rep. Adam Schiff, D-Calif., that he is “in need of ...

Jessica Curtis: Impeachment disaster only going to get worse for Democrats

By Jessica Curtis | Fox News Democrats have reached their point of inflection. Either they can admit they have failed to convince the total American public that ...

234,000 Wisconsin Voter Registrations Should Be Tossed: Judge

The Associated Press PORT WASHINGTON, Wisconsin—A Wisconsin judge on Friday ordered that the registration of up to 234,000 voters be tossed out because they may have ...

Anti-Impeachment Democrat Rep. Jeff Van Drew Plans to Join Republican Party

By Allen Zhong Rep. Jeff Van Drew, one of the two Democrats who voted against formalizing the impeachment inquiry against Trump back in October, is leaving the ...

‘Would Be Big’: Trump Responds to Democratic Congressman’s Plans to Join GOP

By Jack Phillips President Donald Trump has responded to reports that Rep. Jeff Van Drew (D-N.J.) is planning to join the Republican Party following weeks ...

Democrat Rep. Peterson Says He’ll Vote Against Impeaching Trump

By Jack Phillips A longtime Democratic Congressman whose district overwhelmingly voted in favor of President Donald Trump confirmed he will vote against articles of impeachment.ADVERTISING Rep. ...

Trump Warns 31 House Democrats Who Represent Districts He Won

By Zachary Stieber President Donald Trump on Saturday passed along a warning against impeachment to the dozens of House Democrats who represent districts that he ...