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

RNC raises record-setting $23.5M in August, as GOP momentum builds

By Gregg Re | Fox News EXCLUSIVE: The Republican National Committee (RNC) is expected to announce this week that it raised a record-setting $23.5 million in August and had $53.8 ...

Iranian cruise missiles and drones used in Saudi oil facilities, US officials say

By Hollie McKay, Lucas Tomlinson | Fox News It has been more than three days since Saudi Arabia’s oil infrastructure was crippled and, as the investigation continues, fingers are pointing toward Iran as ...

Trump blitzes into California for major $15M fundraising push, irritating celebrities, activists

By Gregg Re | Fox News President Trump sent liberal California activists into a tizzy on Tuesday, as he executed a lunch-dinner-breakfast-lunch fundraising blitz expected to scoop up ...

OxyContin Maker Files for Bankruptcy, Faces Thousands of Lawsuits

BY BOWEN XIAO Pharmaceutical company Purdue Pharma—which made billions of dollars selling its prescription painkiller OxyContin—has filed for bankruptcy after giving way to financial pressure from thousands of ...

Father of Parkland shooting victim: ‘Guns didn’t kill my daughter, Democratic policies did’

By Yael Halon | Fox News On “No Interruption,” Fox Nation host Tomi Lahren sat down with Andrew Pollack, father of Parkland shooting victim Meadow Pollack. Pollack became an outspoken advocate for school safety since the Parkland shooting, and he ...

Jesse Watters on New York Times’ Kavanaugh report: ‘I think they made the mistake on purpose’

By Victor Garcia | Fox News Jesse Watters says he believes The New York Times reported, then corrected, questionable allegations against Supreme Court Judge Brett Kavanaugh deliberately, to push its anti-Trump agenda. “I ...

New York Times criticized from both sides of aisle over now-revised Kavanaugh allegations

By Brian Flood | Fox News The New York Times has taken heat from both sides of the aisle for walking back its now-revised allegations against Supreme Court Justice Brett Kavanaugh ...

Washington Post says it passed on New York Times’ now-revised Kavanaugh story

By Brian Flood | Fox News The Washington Post has revealed it passed on a questionable story about Supreme Court Associate Justice Brett Kavanaugh back in 2018 because it “could not independently ...

GOP leaders decry Kavanaugh attacks as McConnell says ‘this is not normal political behavior’

By Alex Pappas | Fox News Senate Republican leaders on Monday unloaded on Democrats over their revived efforts to push college-era allegations of sexual misconduct against Supreme Court Associate Justice ...

NY Times sparks furor with tweet describing alleged Kavanaugh behavior as ‘harmless fun’

By Dom Calicchio | Fox News The New York Times, under its “New York Times Opinion” Twitter banner, issued an apology late Saturday, saying it had deleted ...

The Florida Supreme Court’s Upcoming Advisory Opinion Could Narrow the Field of Eligible Voters Under Amendment 4

By Elad Hakim During the midterms, Florida voters approved Amendment 4, which went into effect on Jan. 8, 2019. The amendment passed with 64 percent of the vote ...

15 Months Before Gun Seizure Vow, Beto O’Rourke Said AR-15 Owners Could Keep Guns

BY ZACHARY STIEBER A year before he said, “Hell yes, we’re gonna take your AR-15,” Beto O’Rourke promised gun owners that they could keep their firearms ...