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

Portland residents, business owners want city officials to ‘fix’ homeless problem

By Barnini Chakraborty | Fox News PORTLAND, Ore. – In the summer of 2019, Fox News embarked on an ambitious project to chronicle the toll progressive policies have had ...

$3 Million Proceeds From Betsy Ross T-shirt Will Build Homes for Families of Fallen Soldiers

BY RICHARD SZABO A radio talk show celebrity’s generosity will help provide shelter for the family of servicemen who died while serving their country, a New ...

Educators Warn of Falling Academic Standards in California

BY IAN HENDERSON With California’s K-12 education consistently ranked below average or even near the lowest in the nation, parents, educators and local officials have increasingly expressed their concern ...

Poll: Public Support Grows for School Choice, Vouchers

BY BOWEN XIAO A new nationwide opinion poll on education policy released by Education Next shows growing support for a number of initiatives, namely school choice, and ...

Trump Says White House Considering Cutting Payroll Tax, Rejects Recession Fears

By Janita Kan President Donald Trump said on Aug. 20 that the White House has long-considered cutting payroll tax and rejected warnings about a looming recession. “Payroll ...

San Francisco homeless stats soar: city blames big business, residents blame officials

By Barnini Chakraborty | Fox News In the summer of 2019, Fox News embarked on an ambitious project to chronicle the toll progressive policies have had on the ...

Detroit PD responds after Tlaib crudely attacks their use of facial recognition technology

By Sam Dorman | Fox News Rep. Rashida Tlaib, D-Mich., got an invitation Tuesday to observe her hometown police department’s use of facial recognition technology soon after she crudely attacked the controversial ...

Economist reacts to high numbers of New Yorkers fleeing to Florida because of high state taxes

By Frank Miles | Fox News Heritage Foundation chief economist Steve Moore reacted to the high numbers of New Yorkers who are fleeing to Florida because of ...

Harry Reid rips Dems over ‘Medicare-for-all,’ border policies: ‘Of course’ it will hurt us in 2020

By Ronn Blitzer | Fox News Former Senate Democratic Leader Harry Reid had some harsh words for his party’s presidential candidates, rejecting some of their health care and immigration policies as ...

Epstein Signed His Will Two Days Before Committing Suicide: Report

BY ZACHARY STIEBER Jeffrey Epstein signed a will just two days before he was found unresponsive in his prison cell, according to a new report. Epstein was found ...

Trump Highlights Research Showing Google Shifted Millions of Votes to Clinton in 2016

BY PETR SVAB President Donald Trump on Aug. 19 drew attention to research that shows the sway Google holds over election results after a former engineer for the ...

Trump: US considering possibly buying Greenland, ‘essentially it’s a large real estate deal’

By Nick Givas | Fox News President Trump spoke out Sunday on reports his administration has been looking into buying Greenland. Trump addressed the rumors with reporters outside Marine One after ...