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

Trump’s personal assistant resigns from White House amid tensions

By Louis Casiano | Fox News A personal assistant to President Trump who had been with the administration since Trump took office, Madeleine Westerhout, abruptly resigned Thursday, reportedly after it was determined she shared private ...

Dead birds in Massachusetts town prompt concerns they’re infected with deadly virus

By Madeline Farber | Fox News Dead birds and seagulls spotted in the town of Fairhaven, Mass., have raised concerns among residents that the animals are infected ...

MSNBC’s O’Donnell retracts Trump-Russia story, apologizes; Florida in Dorian’s crosshairs

By Fox News MSNBC’s O’Donnell retracts unverified Trump-Russia story, makes on-air apology MSNBC host Lawrence O’Donnell on Wednesday night retracted a story that directly tied President ...

Trump mocks Kirsten Gillibrand as she exits 2020 race: ‘She was the one I was really afraid of’

By Joseph A. Wulfsohn | Fox News President Trump had some fun at the expense of Sen. Kirsten Gillibrand, D-N.Y., after she announced on Tuesday that she was withdrawing ...

Heritage Foundation bewildered by Biden claim about Trump tax cuts

By Gregg Re, Patrick Ward | Fox News The conservative Heritage Foundation reacted with bewilderment on Wednesday after Joe Biden claimed that the think tank had condemned the 2017 Trump-GOP ...

Ilhan Omar issues terse denial on allegations of affair with married DC consultant

By Ronn Blitzer | Fox News Minnesota Democratic Rep. Ilhan Omar is denying allegations of an affair with a married Washington, D.C., consultant. The accusations emerged earlier this week in a ...

Trump demands apology from NBC News over ‘false and defamatory’ report, threatens legal action in scorching letter

By Brian Flood | Fox News President Trump’s legal team sent a harshly worded letter to NBC Wednesday demanding an apology and retraction for “false and defamatory, and extremely damaging” ...

AOC suggests ‘informed’ millennials are first generation to protest government, forgets about the ‘60s

By Ronn Blitzer | Fox News Rep. Alexandria Ocasio-Cortez made some bold claims in her latest Instagram Live video, suggesting millennials and Generation Z are better “informed” and more well-versed ...

Winter to feature ‘Polar Coaster’ mix of frigid temperatures, snow: Farmers’ Almanac

By Travis Fedschun | Fox News Enjoy the last days of summer, because a wild ride apparently is in store this winter. The Farmers’ Almanac is predicting that “bitterly cold ...

2020 Democrats fume at DNC over debate criteria crackdown

By Paul Steinhauser | Fox News With the deadline to qualify for next month’s third round of Democratic presidential debates closing in, the Democratic National Committee is facing an ...

Millennials care less about patriotism, religion and family than previous generations, study says

By Brian Flood | Fox News Millennials don’t value patriotism, family and religion as passionately as previous generations, according to a new survey. “The values that Americans say define the national ...

Sanders campaign co-chair says Biden ‘regretted’ Obama assassination comment

By Andrew O’Reilly | Fox News The co-chair of Bernie Sanders’ election campaign dodged a question on Sunday about former Vice President Joe Biden’s recent gaffes while on the stump by ...