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

Dems introduce resolution formalizing impeachment inquiry procedures

By Gregg Re | Fox News House Democrats on Tuesday introduced a resolution to formalize their impeachment inquiry and adopt rules to govern the proceedings, following sustained complaints by congressional Republicans ...

Piers Morgan blasts Trump critics after al-Baghdadi raid: They ‘shamed themselves and shamed their country’

By Charles Creitz | Fox News Many of President Trump’s critics shamed both themselves and the United States when they refused to acknowledge a White House victory after ISIS leader ...

Hannity: Reports on alleged FISA abuse and origins of Russia probe will ‘shock the conscience and soul of the nation’

By Yael Halon | Fox News Fox News primetime host Sean Hannity said the release of investigations into the FBI and Justice Department probes of President Trump and his ...

Ex-Bolton deputy skipping deposition suggests ‘maybe’ impeachment push is viewed as ‘illegitimate,’ Rep Andy Biggs says

By Joshua Nelson | Fox News After a former deputy to onetime National Security Adviser John Bolton took legal action against Democrats for their ...

History will judge Democrats harshly for impeachment of Trump, Ken Starr says

By Nick Givas | Fox News History will judge congressional Democrats harshly for their handling of President Trump’s impeachment inquiry due to their lack of ...

Katie Hill paid $5G bonus to alleged male lover, used ‘influence’ to get jobs for husband: reports

By Dom Calicchio | Fox News U.S. Rep. Katie Hill, the California Democrat embroiled in a legal battle over the publication of nude photos, and facing a House ethics probe over an ...

FBI agents probing Michael Flynn acted with ‘nefarious’ intent in manipulating records, says Jason Chaffetz

By Julia Musto | Fox News FBI agents handling former national security adviser Michael Flynn’s 2017 interview had seemingly “nefarious” intent in editing official records, Fox News contributor Jason Chaffetz said Saturday. Chaffetz, a Republican ...

Trump Says He Was ‘Not Involved’ in DOJ’s Criminal Investigation Into Origins of Russia Probe

By Janita Kan President Donald Trump said he was not involved in the Justice Department’s decision to expand their review of the surveillance of the Trump campaign ...

Rep. Jim Banks: Adam Schiff lies about Trump repeatedly – Shouldn’t be leading impeachment inquiry

By Rep. Jim Banks | Fox News By striking down the Republican resolution to censure House Intelligence Committee Chairman Adam Schiff, D-Calif. – who is leading the impeachment inquiry ...

‘This Ruling Is Dangerous for Every American:’ Doug Collins Rips Judge Over Impeachment Decision

BY ZACHARY STIEBER Rep. Doug Collins (R-Ga.) said he didn’t agree with the decision by a federal judge to order the release of grand jury material ...

Trump, Republicans Express Concern as Whistleblower Slips Into the Sidelines

BY JANITA KAN The anonymous whistleblower who is at the center of impeachment inquiry is quietly slipping into the sidelines as Democrats say the individual’s testimony is no ...

Graham Says Senate Resolution Condemning Impeachment Inquiry Has 50 Co-sponsors

By Jack Phillips Fifty U.S. senators have signed onto a resolution condemning the House impeachment inquiry into President Donald Trump, said Sen. Lindsey Graham (R-S.C.) ...