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

CNN admits Trump correct, that 2 Democrats misquoted Ukraine call during impeachment markup session

By Danielle Wallace | Fox News CNN sided with President Trump this week, agreeing in a fact check that two House Democrats, both from Texas, had misquoted the president’s July 25 phone call with Ukrainian ...

Trump Warns: Democrats ‘Trivializing’ Impeachment for Political Gain

By Jack Phillips President Donald Trump asserted Friday that House Democrats have trivialized impeachment to gain political points after the House Judiciary Committee voted to ...

Liberals Are Freaking out About Trump’s Judicial Appointments—They Should Be

By Nicole Russell While Democrats press for impeachment, amidst the chaos and controversy, President Donald Trump and Sen. Mitch McConnell (R-Ky.) have quietly pressed forward and made ...

Hawaii GOP Cancels Primary, Commits Delegates to Trump

By Zachary Stieber The Hawaii GOP canceled its 2020 primary, committing its 19 delegates to President Donald Trump. “Hawaii Republicans across the state are united in ...

Schiff called ‘hypocrite’ as past comments criticizing Clinton impeachment emerge

By Andrew O’Reilly | Fox News House Intelligence Committee Chairman Adam Schiff, D-Calif., arguably the most visible face of the impeachment inquiry into President Trump, has brushed off GOP criticism that ...

Rashida Tlaib deletes tweet blaming ‘white supremacy’ for Jersey City shooting

By Sam Dorman | Fox News Rep. Rashida Tlaib, D-Mich., received a flurry of attention on Thursday after she tweeted that “white supremacy” was behind the Jersey City shooting that ...

Trump Reaches Milestone as 50th Federal Appeals Judge Confirmed

By Matthew Vadum WASHINGTON—President Donald Trump hit an important milestone Dec. 11, as the U.S. Senate confirmed his 50th judicial nominee to the nation’s federal courts ...

Under-siege Dems in Trump districts keep impeachment decision close to the vest

By Marisa Schultz | Fox News WASHINGTON — An all but inevitable House floor vote to impeach President Trump is poised to come down to ...

Judge rules South Carolina GOP can cancel its presidential primary in 2020

By Andrew O’Reilly | Fox News A county judge in South Carolina dismissed on Wednesday a lawsuit against the Palmetto State’s Republican Party over its ...

Political scientist makes surprising claim: Trump impeachment would guarantee his re-election in 2020

By Yael Halon | Fox News A Trump impeachment would guarantee the president’s re-election, according to political expert Jeanne Zaino. Taking on the party’s leadership in a ...

CNN Ripped for Apparently Skipping Live Coverage of Hearing on FBI Misconduct

By Jack Phillips The Senate Judiciary Committee will hear from the Department of Justice’s Inspector General, Michael Horowitz, on Wednesday on the findings of his report into ...

House Will Impeach Trump Again if He Wins 2020 Election: Democratic Congresswoman

By Zachary Stieber The House will impeach President Donald Trump once more if he wins the 2020 election, Rep. Karen Bass (D-Calif.) said. Trump has not ...