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Category: Economy

The US Economy

Number of Americans filing for unemployment falls below 1M for first time since pandemic started
Posted inEconomy

Number of Americans filing for unemployment falls below 1M for first time since pandemic started

USNN World Newsby USNN World NewsAugust 13, 2020June 20, 2024
Trump says Democrats' mail-in ballot push holding up coronavirus stimulus package
Posted inEconomy

Trump says Democrats’ mail-in ballot push holding up coronavirus stimulus package

USNN World Newsby USNN World NewsAugust 13, 2020March 26, 2025
Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy
Posted inEconomy

Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy

USNN World Newsby USNN World NewsAugust 11, 2020June 4, 2025
PPP responsible for 'majority' of jobs created since May, SBA administrator says
Posted inEconomy

PPP responsible for ‘majority’ of jobs created since May, SBA administrator says

USNN World Newsby USNN World NewsAugust 10, 2020June 20, 2024
Trump payroll tax executive order likely worth $1,200 per worker: Kudlow
Posted inEconomy

Trump payroll tax executive order likely worth $1,200 per worker: Kudlow

USNN World Newsby USNN World NewsAugust 9, 2020August 9, 2020
Canada slaps back at new Trump tariffs with $2.7B in aluminum duties
Posted inEconomy

Canada slaps back at new Trump tariffs with $2.7B in aluminum duties

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020
Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling
Posted inEconomy

Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling

USNN World Newsby USNN World NewsAugust 8, 2020October 14, 2024
President Trump will sign executive orders Saturday aimed at delivering relief to Americans struggling with the economic fallout of the coronavirus pandemic, Fox News has learned. Trump is expected to announce the presidential action during a 3:30 p.m news conference at Trump National Golf Club Bedminster, N.J., before heading to the Hamptons for fundraising events. Trump blamed Democrats Friday for the coronavirus deal stalemate in Congress and said he'd take matters into his own hands. Earlier this week, he previewed executive orders that would extend enhanced federal unemployment benefits, suspend payroll taxes until the end of the year, extend a moratorium on evictions and help with student loan payments. TRUMP SAYS CORONAVIRUS RELIEF EXECUTIVE ORDER COULD COME BY THE END OF THE WEEK 'IF DEMOCRATS CONTINUE TO HOLD RELIEF HOSTAGE' “The president is taking action to provide relief to unemployed Americans, among other actions to provide relief," a senior administration official told Fox News Saturday. Acting unilaterally has its limits and could prompt legal challenges. Trump's orders are narrower in scope than the trillions of dollars Congress is mulling for a massive stimulus to the virus-damaged economy. Congress controls new federal spending and Trump already predicted sidestepping lawmakers will have consequences. “We’ll see, yeah, probably we’ll get sued," Trump told reporters Friday. House Democrats already passed their $3 trillion coronavirus relief bill in May. The Senate GOP last month proposed a $1 trillion plan, though didn't bring the measure to a vote as Republicans were divided on whether more aid is even needed. placeholder DESPITE POLLS AND PANDEMIC, TRUMP CAMPAIGN ARGUES CANDIDATE BETTER POSITIONED THAN IN 2016 House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer have been in talks all week with White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin, but the two sides couldn't strike a deal. Democrats blamed the GOP for failing to understand the gravity of the crisis and for trying to "nickel and dime" struggling Americans, while the White House accused Democrats of not willing to compromise. Trump's actions aren't expected to address some of the big issues that Congressional proposals sought to tackle, including another round of $1,200 stimulus checks, aid to schools to reopen safely, an infusion of cash to revenue-strapped state and local governments, food assistance, new lawsuit protections for businesses and money for mail-in voting for the 2020 elections. Because of provisions in the Constitution that grant the legislative branch spending power, the White House can't just pull hundreds of billions out of the ether without Congressional approval. PELOSI SAYS DEMOCRATS WILLING TO COMPROMISE AT $2T FOR CORONAVIRUS BILL, REJECTED BY TRUMP ADMIN But the Trump administration believes it has access to $140 billion which it can “reprogram.” That includes $80 billion in untapped money from the big coronavirus bill signed into law in March and $40 billion from the Disaster Relief Fund. placeholder The White House believes it can divert some of this funding without congressional blessing, similar to how Trump in 2019 declared a national emergency at the border with Mexico to shift billions of dollars from the Pentagon budget to help pay for a border wall. Pelosi and Schumer earlier this week expressed skepticism about Trump's executive powers. "You can't move that much money," Pelosi said. "We're talking about a major investment." GOP OFFICIALS PREVIEW ‘EPIC’ TRUMP ADDRESS, FIRST FAMILY ROLE IN EVOLVING CONVENTION PROGRAM The Democrats want the White House to continue negotiating with Congress on a big package. "A better way to do this is [to] come to an agreement that meets the needs of the American people -- a much better way," Schumer said. The need for relief is pressing as millions of Americans lost out on the $600-per-week federal unemployment benefit that expired at the end of July. A partial moratorium on evictions on properties with government-backed mortgages also expired at the end of last month. placeholder There are some 110 million Americans living in rental households; up to 23 million renters – or 20 percent – are at risk of eviction by Sept. 30, according to an analysis by the COVID-19 Eviction Defense Project. With the supplemental $600 in unemployment benefits now officially lapsed, about 24 million Americans say they have little to no chance of being able to pay next month's rent, according to a survey by the U.S. Census Bureau. CLICK HERE TO GET THE FOX NEWS APP Rent and mortgage payments are typically the largest monthly expense for Americans: One in four tenant families pays more than half of its income for rent, a rate that’s even higher in cities like San Francisco and New York, according to Harvard’s Joint Center for Housing Studies. New jobless figures from the Labor Department, which cover the week ending August 1, show that more than 1.18 million workers sought aid last week, the lowest since March 14. The latest figures bring the total number of unemployment claims since the shutdown began to more than 55 million. The unemployment rate fell to 10.2%, down from 11.1% in June. Fox News' Mark Meredith, John Roberts, Jon Decker, Chad Pergram, Brooke Singman and Megan Henney contributed to this report.
Posted inEconomy

Trump to sign coronavirus relief executive orders Saturday to help unemployed Americans, others

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020
Trump officials recommend executive action as stimulus talks break down
Posted inEconomy

Trump officials recommend executive action as stimulus talks break down

USNN World Newsby USNN World NewsAugust 7, 2020August 7, 2020
US employers hire 1.8M despite new COVID-19 shutdowns
Posted inEconomy

US employers hire 1.8M despite new COVID-19 shutdowns

USNN World Newsby USNN World NewsAugust 7, 2020December 5, 2024
GOP senators pitch extending extra unemployment aid through end of year
Posted inEconomy

GOP senators pitch extending extra unemployment aid through end of year

USNN World Newsby USNN World NewsAugust 6, 2020August 6, 2020
Capital One slapped with $80M fine for 2019 data hack
Posted inEconomy

Capital One slapped with $80M fine for 2019 data hack

USNN World Newsby USNN World NewsAugust 6, 2020August 6, 2020

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NATIONAL NEWS

  • Trump backers slam Dems’ ‘socialist snoozefest’ as 4-night convention concludesTrump backers slam Dems' 'socialist snoozefest' as 4-night convention concludes
    By Brie Stimson | Fox News “‘Vote for me because I’m not Trump’ is not a winning message” Katrina Pierson says. Democrats may have been thrilled with their ...
  • Trump mocks Biden’s Scranton roots ahead of convention speech: ‘He abandoned Pennsylvania’Trump mocks Biden's Scranton roots ahead of convention speech: 'He abandoned Pennsylvania'
    By Andrew O’Reilly | Fox News “Joe Biden is a puppet of the radical left movement that seeks to destroy the American way of life,” Trump said. Hours ...
  • Trey Gowdy reacts to Steve Bannon arrest, says indictment indicates a ‘classic fraud scheme’Trey Gowdy reacts to Steve Bannon arrest, says indictment indicates a ‘classic fraud scheme’
    By Talia Kaplan | Fox News ‘He has been indicted, that’s the first step, let’s see what a jury of 12 does with it’. The charges against former White ...
  • Pelosi backs Joe Kennedy in Senate primary against liberal incumbent, draws AOC scornPelosi backs Joe Kennedy in Senate primary against liberal incumbent, draws AOC scorn
    By Marisa Schultz | Fox News Progressives call out ‘hypocrisy’. House Speaker Nancy Pelosi on Thursday endorsed challenger Joe Kennedy over liberal incumbent Ed Markey in the Massachusetts Senate primary, a ...
  • Tara Reade speaks out on Democratic convention, says party ‘complicit’ in ‘gaslighting’ survivorsTara Reade speaks out on Democratic convention, says party 'complicit' in 'gaslighting' survivors
    By Joseph A. Wulfsohn | Fox News Biden accuser said she would ‘absolutely’ speak at GOP convention upon an invitation. Tara Reade, who rocked the presidential primary race ...
  • Trump Pennsylvania speech to attack Biden on trade, energy, immigrationTrump Pennsylvania speech to attack Biden on trade, energy, immigration
    By Brooke Singman, John Roberts | Fox News Biden has spent the last half century ‘ripping off’ residents and workers of Pennsylvania, Trump is expected to say. President Trump is expected ...
  • Warren’s kid-block background spells out almost-hidden message in convention speechWarren's kid-block background spells out almost-hidden message in convention speech
    By Caitlin McFall | Fox News Prominent message sits over Warren’s shoulder as she voices support for Biden-Warren ticket. Sen. Elizabeth Warren, D-Mass., appeared in a virtual speech ...
  • Biden campaign distances itself from former Women’s March leader Sarsour after DNC appearanceBiden campaign distances itself from former Women's March leader Sarsour after DNC appearance
    By Ronn Blitzer | Fox News A spokesman says Sarsour ‘has no role’ in the campaign. Democratic presidential nominee Joe Biden’s campaign said it has nothing to do with former Women’s ...
  • Gretchen Whitmer mouths expletive on ‘hot mic,’ compares DNC to ‘Shark Week’ before convention speechGretchen Whitmer mouths expletive on 'hot mic,' compares DNC to 'Shark Week' before convention speech
    By Danielle Wallace | Fox News “It’s not just Shark Week … it’s Shark Week mother f—er,” Whitmer said. Michigan Gov. Gretchen Whitmer was caught on a “hot mic” Monday mouthing ...
  • Ocasio-Cortez Nominates Sanders, Doesn’t Mention Biden in DNC SpeechOcasio-Cortez Nominates Sanders, Doesn’t Mention Biden in DNC Speech
    By Nicholas Ballasy Rep. Alexandria Ocasio-Cortez on Tuesday night  at the Democratic National Convention nominated Sen. Bernie Sanders for president and applauded his supporters for working toward “guaranteed health ...
  • Trump Campaign Sues New Jersey Over Mail-in BallotsTrump Campaign Sues New Jersey Over Mail-in Ballots
    By Tom Ozimek The campaign to reelect President Donald Trump has sued New Jersey authorities after Gov. Phil Murphy issued an executive order facilitating widescale mail-in balloting for November’s ...
  • Virginia State Senator Turns Herself in to Face Charges Over Statue Toppling IncidentVirginia State Senator Turns Herself in to Face Charges Over Statue Toppling Incident
    By Jack Phillips Virginia state Sen. Louise Lucas turned herself in on Tuesday to the sheriff’s office after she was charged in connection to the dismantling ...
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