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

Police Union Endorses Trump for 2020 Re-Election

BY JANITA KAN A police union that represents more than 100,000 officers has announced it will be endorsing President Donald Trump’s 2020 re-election campaign, according to a ...

50 US States and Territories Launch Antitrust Probe Into Google

BY BOWEN XIAO Fifty U.S. States and territories, including the District of Columbia and Puerto Rico, have launched an anti-trust probe into Google and the company’s “potential monopolistic behavior.” ...

Rush Limbaugh: Dems, media paying ‘a price’ for Russia investigation flop

By Victor Garcia | Fox News Democrats and the media are paying the price for pushing the Russia collusion narrative for more than two years, according to conservative ...

Hannity on Dems push for impeachment: ‘An anticlimactic culmination of 3 years of lies’

By Victor Garcia | Fox News Fox News’ Sean Hannity criticized Democrats Monday night for targeting President Trump and once again pursuing impeachment. “There are no high crimes, no misdemeanors. ...

Fake news on Instagram could cause big problems in 2020, report claims

By Christopher Carbone | Fox News Instagram could become the new breeding ground for disinformation in the lead up to the 2020 election because bad actors are adapting ...

Trump Says He Will Release an ‘Extremely Complete’ Financial Report Before 2020 Election

By Janita Kan President Donald Trump told reporters on Sept. 9 that he will be releasing a financial report on himself ahead of the 2020 presidential ...

Trump unloads on ‘disloyal’ Democratic House candidate at fiery rally ahead of pivotal North Carolina special election

By Gregg Re | Fox News High stakes were matched by some of President Trump’s harshest campaign rhetoric yet at a rally in Fayetteville, N.C., on Monday night, with ...

Kamala Harris apologizes for laughing after audience member calls Trump ‘mentally retarded’

By Sam Dorman | Fox News Sen. Kamala Harris, D-Calif., claimed Saturday that she didn’t hear an audience member at a New Hampshire town hall Friday call President Trump “mentally retarded” and ...

Dr. Robert Epstein: Study claims Google reflected ‘very dramatic bias’ in 2016 election search results

By Charles Creitz | Fox News Google allegedly offered search results during the 2016 election season that manipulated voters in Hillary Clinton’s favor, according to researcher Dr. Robert Epstein. The study looked into “politically ...

Mark Sanford announces Trump primary challenge: GOP ‘has lost our way’

By Ronn Blitzer | Fox News Former South Carolina Gov. Mark Sanford announced Sunday that he is running for president as a Republican, becoming the latest to challenge President ...

Maine set to become first state to allow ranked voting in presidential election

By Vandana Rambaran | Fox News Maine is poised to become the first state in the country to implement a system allowing voters to rank candidates in presidential elections. Democratic ...

Trump blasts ‘totally illegal’ DACA order, says Obama didn’t have the right to sign it

By Adam Shaw | Fox News President Trump on Friday said that the Obama-era executive order granting protections to some immigrants who came to the country as minors was a ...