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

Outgoing CNN contributor Eliana Johnson questions network’s decision to send her packing

By Brian Flood | Fox News Soon-to-be former CNN on-air contributor Eliana Johnson questioned the rationale of an executive at the liberal network who said she was no longer needed because ...

Senator Sanders’ plan to fight climate change with ‘Third World population control…is disgusting’: Stuart Varney

By Matt London | Fox News Fox Business Network host Stuart Varney blasted 2020 Democratic Presidential candidate and Vermont Senator Bernie Sanders I-Vt., who said that as president, he ...

Flynn Turns Tables on Prosecutors in Major Legal Blitz

BY IVAN PENTCHOUKOV Attorneys for former national security adviser Michael Flynn launched a major legal challenge in his perjury case on Aug. 30, by seeking a contempt citation ...

2020 Dems cut from Houston debate rip DNC for ‘lack of transparency,’ vow to press on

By Paul Steinhauser | Fox News MANCHESTER, N.H. – One week ahead of the Democrats’ next presidential nomination debate in Houston, three of the lower-tier candidates who failed to make ...

Mattis derides ‘cowardice’ from anonymous official who penned New York Times’ anti-Trump op-ed

By Sam Dorman | Fox News Former Defense Secretary James Mattis disagreed with a senior administration official’s decision to publish an anonymous op-ed critical of the president in 2018, saying ...

Obamas accused of ‘deplorable behavior’ amid trademark dispute: ‘Not consistent with the values they preach’

By Brian Flood | Fox News Barack and Michelle Obama have been accused of “deplorable behavior” by a Los Angeles entertainment attorney for filing a “meritless petition” amid ...

Chicago mayor clashes with Cruz over gun violence: ‘Keep our name out of your mouth’

By Adam Shaw | Fox News Chicago Mayor Lori Lightfoot clashed with Sen. Ted Cruz over the latest burst of gun violence in the city, claiming Monday that Chicago’s decades-long ...

Trump says background checks would not have prevented recent gun violence

By Steve Holland, Andrea Shalal WASHINGTON (Reuters) – As the United States grappled with yet another mass shooting event on Sunday, President Donald Trump said ...

Mandatory Evacuations Issued Along Entire South Carolina Coast

BY JACK PHILLIPS Mandatory evacuations were issued for the entirety of South Carolina’s coast as Hurricane Dorian is still more than 100 miles from the U.S. mainland. South Carolina ...

GOP Strategist Says Washington Post WH Bureau Chief ‘Burned’ Trump’s Ousted Secretary by Revealing Off-the-Record Conversation

BY VENUS UPADHAYAYA Arthur Schwartz, a GOP Strategist, has alleged that The Washington Post’s White House bureau chief Philip Rucker leaked off-the-record conversations with President Donald Trump’s ...

Trump: ‘Enjoy the low gas prices over the Labor Day weekend!’

By FOX Business If you’re hitting the road this holiday weekend, President Trump claims you have him to thank for lower prices at the pump. In a tweet ...

Texas shooting leaves 7 dead, 19 injured; suspect dead

By Melissa Leon | Fox News The random shooting rampage in West Texas Saturday left seven dead, police said Sunday. Odessa police spokesman Steve LeSueur said Sunday that ...