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Category: Economy

The US Economy

US employers hire 1.8M despite new COVID-19 shutdowns
Posted inEconomy

US employers hire 1.8M despite new COVID-19 shutdowns

USNN World Newsby USNN World NewsAugust 7, 2020December 5, 2024
GOP senators pitch extending extra unemployment aid through end of year
Posted inEconomy

GOP senators pitch extending extra unemployment aid through end of year

USNN World Newsby USNN World NewsAugust 6, 2020August 6, 2020
Capital One slapped with $80M fine for 2019 data hack
Posted inEconomy

Capital One slapped with $80M fine for 2019 data hack

USNN World Newsby 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.”
Posted inEconomy

In SALT cap stimulus square-off, lawmakers squabble over $10,000 deduction limit

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
McConnell open to extending $600 unemployment boost in coronavirus stimulus deal
Posted inEconomy

McConnell open to extending $600 unemployment boost in coronavirus stimulus deal

USNN World Newsby USNN World NewsAugust 5, 2020August 19, 2024
McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion
Posted inEconomy

McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
Stocks rally as slow coronavirus-relief talks move in 'right direction'
Posted inEconomy

Stocks rally as slow coronavirus-relief talks move in ‘right direction’

USNN World Newsby USNN World NewsAugust 4, 2020December 5, 2024
White House considering unilateral actions with coronavirus aid bill stuck in Congress
Posted inEconomy

White House considering unilateral actions with coronavirus aid bill stuck in Congress

USNN World Newsby USNN World NewsAugust 3, 2020August 3, 2020
Democrats, White House still at odds over extra coronavirus unemployment benefits
Posted inEconomy

Democrats, White House still at odds over extra coronavirus unemployment benefits

USNN World Newsby USNN World NewsAugust 2, 2020August 2, 2020
Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill
Posted inEconomy

Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill

USNN World Newsby USNN World NewsAugust 1, 2020August 1, 2020
Trump says second stimulus check could be 'way higher' than $1,200
Posted inEconomy

Trump says second stimulus check could be ‘way higher’ than $1,200

USNN World Newsby USNN World NewsJuly 30, 2020July 30, 2020
Lawmakers face a tight deadline
Posted inEconomy

Trump calls GOP coronavirus proposal ‘semi-irrelevant’ as deal appears far off

USNN World Newsby USNN World NewsJuly 29, 2020July 29, 2020

Posts pagination

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NATIONAL NEWS

  • LA city officials pressuring Newsom to declare state of emergency amid homeless crisisLA city officials pressuring Newsom to declare state of emergency amid homeless crisis
    By Andrew O’Reilly | Fox News Officials in Los Angeles are pressuring California Gov. Gavin Newsom to declare a state of emergency as the city and state ...
  • Giuliani threatens lawsuits against individual House Dems amid Trump impeachment inquiryGiuliani threatens lawsuits against individual House Dems amid Trump impeachment inquiry
    By Danielle Wallace | Fox News President Trump’s personal attorney Rudy Giuliani said Tuesday he’s considering individual lawsuits against House Democrats for allegedly violating the constitutional and civil rights of the ...
  • Trump dares Congress, brandishing deep-red 2016 election map: ‘Try to impeach this’Trump dares Congress, brandishing deep-red 2016 election map: ‘Try to impeach this’
    By Adam Shaw | Fox News President Trump on Tuesday dared Congress to impeach him over the Ukraine controversy, posting an image of a deep-red 2016 election map ...
  • Zuckerberg says if Warren becomes president, Facebook would sue U.S. gov’t: ‘You go to the mat and fight’Zuckerberg says if Warren becomes president, Facebook would sue U.S. gov't: 'You go to the mat and fight'
    By Chris Ciaccia | Fox News Leaked audio comments from Facebook CEO Mark Zuckerberg include him saying that the tech company would likely have no choice but to sue the ...
  • Pompeo accuses Dems of ‘bullying’ State employees with deposition demand: ‘I will not tolerate such tactics’Pompeo accuses Dems of 'bullying' State employees with deposition demand: 'I will not tolerate such tactics'
    By Alex Pappas | Fox News Secretary of State Mike Pompeo is fighting back against House Democrats seeking to depose five State Department officials over the Trump-Ukraine controversy. In a letter and ...
  • Holder says Barr is ‘paying a price’ for spearheading Russia probe misconduct investigationHolder says Barr is 'paying a price' for spearheading Russia probe misconduct investigation
    By Gregg Re | Fox News Former Attorney General Eric Holder told Fox News on Tuesday that current Attorney General Bill Barr “is paying a price” and sacrificing his credibility by ...
  • Ingraham: Democrats ‘done with democracy’Ingraham: Democrats 'done with democracy'
    By Victor Garcia | Fox News Laura Ingraham declared that Democrats are done with democracy Monday, saying that the party has decided they can’t trust democracy to deliver them the ...
  • Michigan Lawmaker: Hold Gun-Free Zones Liable for Shooting InjuriesMichigan Lawmaker: Hold Gun-Free Zones Liable for Shooting Injuries
    BY MATTHEW VADUM A Michigan state lawmaker’s newly introduced legislation to hold government agencies and private businesses liable for civil damages if anyone is injured during a shooting in a gun-free ...
  • Joe, Hunter Biden seen golfing with Ukraine gas company exec back in 2014, photo showsJoe, Hunter Biden seen golfing with Ukraine gas company exec back in 2014, photo shows
    By Gregg Re | Fox News EXCLUSIVE: A photo obtained by Fox News’ “Tucker Carlson Tonight” shows former Vice President Joe Biden and his son Hunter golfing in the Hamptons with Devon ...
  • RNC launches ‘Stop the Madness’ campaign to fight impeachment pushRNC launches ‘Stop the Madness’ campaign to fight impeachment push
    By Brooke Singman | Fox News EXCLUSIVE: The Republican National Committee launched a national counter-impeachment campaign called “Stop the Madness” on Monday, targeting House Democrats and vowing to ...
  • Pelosi’s ’60 Minutes’ whistleblower comments prompt GOP concerns of ‘political setup’Pelosi's '60 Minutes' whistleblower comments prompt GOP concerns of 'political setup'
    By Gregg Re | Fox News House Republican Conference Chairman Liz Cheney, R-Wyo., on Monday pushed for answers on how much top Democrats knew about the explosive White House whistleblower’s complaint ...
  • Pro-Trump super PAC files FEC complaint against DNC over Ukraine outreachPro-Trump super PAC files FEC complaint against DNC over Ukraine outreach
    By Andrew Keiper | Fox News The Democratic National Committee has been hit with a Federal Election Commission complaint that accuses a former DNC contractor of acting improperly to gather ...
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