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

CRAFT BREWERY PRINTS “EPSTEIN DIDN’T KILL HIMSELF” UNDER CANS

By Adan Salazar A microbrewery in California has introduced a craft beer with the message “Jeffrey Epstein Didn’t Kill Himself” printed on the bottom of ...

Report: Fox News’ Management Tells Staff Not to Mention Whistleblower’s Name

By Jack Phillips A report claims that Fox News’ management has forbidden network hosts to use the name of the alleged whistleblower at the center ...

Mulvaney Doesn’t Comply With House Impeachment Probe: Reports

By Jack Phillips Acting White House Chief of Staff Mick Mulvaney refused to comply with the closed-door subpoena amid a House impeachment inquiry, according to ...

John Bolton Has New Information on Ukraine Inquiry, Lawyer Says

By Jack Phillips President Donald Trump’s former national security adviser John Bolton has new details about conversations and meetings related to the impeachment inquiry into Trump, his ...

Yovanovitch communicated with Dem staffer on ‘delicate’ issue after complaint, emails show, despite testimony

By Gregg Re | Fox News EXCLUSIVE: Former U.S. Ambassador to Ukraine Marie Yovanovitch, a key witness in House Democrats’ impeachment inquiry, communicated via her personal email account with a ...

Jim Jordan assigned to Intel Committee ahead of Trump impeachment hearings

By Brooke Singman, Chad Pergram | Fox News House Oversight Committee Ranking Member Jim Jordan has been assigned by Republican leadership to serve on the House Intelligence Committee so he ...

Hunter Biden’s questionable past and business dealings could undo dad’s bid for White House

By Barnini Chakraborty | Fox News Democratic front-runner Joe Biden has survived a series of poor debates, weathered criticism that he is out of touch and gaffe prone to ...

White House press secretary reacts to John Bolton skipping Trump impeachment deposition

By Victor Garcia | Fox News White House Press Secretary Stephanie Grisham responded Thursday to former National Security Adviser John Bolton skipping a Trump impeachment inquiry deposition, saying that executive privilege ...

Guy Benson: Here’s why Democrats are ‘in trouble’ with impeachment push

By Nick Givas | Fox News Democrats may go too far with their impeachment probe into President Trump and forget about the public’s exhaustion from dealing with the Mueller investigation for two years, said Fox ...

Trump campaign manager claims Dems are ‘freaked out’ over campaign’s digital dominance

By Kristin Fisher | Fox News The valuable voter data amassed by presidential campaigns is typically kept secret, but President Trump’s campaign manager, Brad Parscale, is bucking the trend ...

Donald Trump Jr. blasts ‘The View’ hosts for Joy Behar’s ‘blackface’ and Whoopi Goldberg comments on Polanski

By Brian Flood | Fox News Donald Trump Jr. went into enemy territory on Thursday prepared for a fight, and a fight he got. Minutes into his appearance on ...

State Dept. official flagged Hunter Biden’s ‘conflict of interest’ in Ukraine, testimony shows

By Gregg Re | Fox News George Kent, a career official at the State Department, told House investigators conducting the impeachment inquiry against President Trump that he raised concerns ...