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

Newsom Files Records Request for ICE Operation Near Redistricting Press Conference

By Jill McLaughlin Gov. Gavin Newsom’s office has filed an official open records request to the Trump administration seeking information about a federal immigration enforcement ...

Former New Mexico Candidate Gets 80 Years in Shootings at Officials’ Homes

By The Associated Press ALBUQUERQUE, N.M.— A former political candidate was sentenced to 80 years in federal prison Wednesday for his convictions in a series ...

3 Killed, 8 Injured in Shooting in Brooklyn Club

By Jacob Burg A shooting at a crowded New York club early Sunday morning left three people dead and eight wounded, authorities said. Investigators believe a ...

3 Virginia Sheriff’s Deputies Shot While Executing Search Warrant

By The Associated Press GRETNA, Virginia—Three sheriff’s deputies injured in gunfire while executing warrants in southern Virginia on Wednesday were “shaken up” but doing well, ...

Trump Signs Order Easing ‘Restrictive’ Space Industry Rules

By Melanie Sun President Donald Trump signed an executive order on Aug. 13 to ease regulations for the commercial space industry and enhance “American greatness ...

Federal Agents, Troops to Start 24/7 Patrol in Washington: White House

By Jacob Burg President Donald Trump will direct federal agents to patrol Washington around the clock, seven days a week, the White House announced on ...

Bullish Crypto Exchange Soars in NYSE Debut, Market Cap Briefly Tops $92 Billion

By Austin Alonzo Shares of cryptocurrency-exchange operator Bullish surged in their debut on the New York Stock Exchange, more than doubling in value and briefly ...

Federal Policing Takes Effect in Washington—What to Know

By Joseph Lord On Aug. 12, National Guard troops arrived in Washington after President Donald Trump federalized policing, citing a scourge of crime in the ...

Mexico Extradites 26 Alleged Cartel Members to US

By Aldgra Fredly Mexico extradited 26 alleged cartel members to the United States on Aug. 12, including high-ranking members of violent cartels labeled as foreign ...

How the Federal Settlements With Elite Universities Are Unfolding

By Aaron Gifford Eight months into President Donald Trump’s second term, four universities have reached settlements with the federal government following investigations into their diversity, ...

Uvalde School District Releases Records Related to 2022 Robb Elementary Shooting

By Aldgra Fredly The Uvalde Consolidated Independent School District on Monday released records related to the May 2022 mass shooting that killed 19 children and ...

DC Locals Have Mixed Reactions to Trump’s Police Takeover

By Stacy Robinson WASHINGTON—Residents of the nation’s capital showed various reactions to President Donald Trump’s plan to federalize the local police force. Early on Aug. 11, ...