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Category: Economy

The US Economy

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
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.”
Posted inEconomy

In SALT cap stimulus square-off, lawmakers squabble over $10,000 deduction limit

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
McConnell open to extending $600 unemployment boost in coronavirus stimulus deal
Posted inEconomy

McConnell open to extending $600 unemployment boost in coronavirus stimulus deal

USNN World Newsby USNN World NewsAugust 5, 2020August 19, 2024
McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion
Posted inEconomy

McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
Stocks rally as slow coronavirus-relief talks move in 'right direction'
Posted inEconomy

Stocks rally as slow coronavirus-relief talks move in ‘right direction’

USNN World Newsby USNN World NewsAugust 4, 2020December 5, 2024
White House considering unilateral actions with coronavirus aid bill stuck in Congress
Posted inEconomy

White House considering unilateral actions with coronavirus aid bill stuck in Congress

USNN World Newsby USNN World NewsAugust 3, 2020August 3, 2020
Democrats, White House still at odds over extra coronavirus unemployment benefits
Posted inEconomy

Democrats, White House still at odds over extra coronavirus unemployment benefits

USNN World Newsby USNN World NewsAugust 2, 2020August 2, 2020
Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill
Posted inEconomy

Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill

USNN World Newsby USNN World NewsAugust 1, 2020August 1, 2020
Trump says second stimulus check could be 'way higher' than $1,200
Posted inEconomy

Trump says second stimulus check could be ‘way higher’ than $1,200

USNN World Newsby USNN World NewsJuly 30, 2020July 30, 2020
Lawmakers face a tight deadline
Posted inEconomy

Trump calls GOP coronavirus proposal ‘semi-irrelevant’ as deal appears far off

USNN World Newsby USNN World NewsJuly 29, 2020July 29, 2020
SBA disaster loan investigation reveals rampant fraud: Report
Posted inEconomy

SBA disaster loan investigation reveals rampant fraud: Report

USNN World Newsby USNN World NewsJuly 29, 2020July 29, 2020
Rep. Gohmert compares GOP and Democrat coronavirus stimulus proposals
Posted inEconomy

Rep. Gohmert compares GOP and Democrat coronavirus stimulus proposals

USNN World Newsby USNN World NewsJuly 28, 2020July 28, 2020

Posts pagination

Newer posts 1 … 83 84 85 86 87 … 102 Older posts

NATIONAL NEWS

  • Manchin Vows to Block Biden EPA Nominees Over Upcoming Power Plant RulesManchin Vows to Block Biden EPA Nominees Over Upcoming Power Plant Rules
    By Nathan Worcester As the Biden administration’s Environmental Protection Agency (EPA) prepares to issue stringent new power plant rules, Sen. Joe Manchin (D-W.Va.), is putting ...
  • RFK Jr. Responds to Speculation About Becoming Trump’s Vice President in 2024RFK Jr. Responds to Speculation About Becoming Trump’s Vice President in 2024
    By Jack Phillips Democrat presidential candidate Robert F. Kennedy, Jr. responded to speculation that he could become former President Donald Trump’s 2024 running mate in ...
  • McCarthy Criticizes Biden’s Possible Use of 14th Amendment to Override Debt LimitMcCarthy Criticizes Biden’s Possible Use of 14th Amendment to Override Debt Limit
    By Tom Ozimek House Speaker Kevin McCarthy (R-Calif.) on Tuesday criticized President Joe Biden’s veiled threat to invoke the 14th Amendment as a way to ...
  • ANALYSIS: Tucker Carlson’s Firing Underscores Legacy Media Divorce From Americans, Media Insiders SayANALYSIS: Tucker Carlson’s Firing Underscores Legacy Media Divorce From Americans, Media Insiders Say
    By Petr Svab News Analysis American corporate media are becoming increasingly disconnected from the concerns and aspirations of Americans. According to several media insiders who’ve explored ...
  • Tucker Carlson Announces He’s Launching New Show on TwitterTucker Carlson Announces He’s Launching New Show on Twitter
    By Jack Phillips Former Fox News host Tucker Carlson released a video on Tuesday afternoon saying he will bring a new show to Twitter. “Starting soon, ...
  • Bank Records Show Biden Family Received $10 Million in Payments From China, Foreign Interests: House OversightBank Records Show Biden Family Received $10 Million in Payments From China, Foreign Interests: House Oversight
    By Mark Tapscott A host of Banking and other records made public Wednesday by House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) depict ...
  • Homeland Security Portrays White Conservatives as Radical Threats in Training DocumentsHomeland Security Portrays White Conservatives as Radical Threats in Training Documents
    By Naveen Athrappully America First Legal (AFL) has released documents obtained from the U.S. Department of Homeland Security (DHS) showing that the agency has conducted ...
  • Public Confidence in Fed Chair Jerome Powell Is at Record LowPublic Confidence in Fed Chair Jerome Powell Is at Record Low
    By Andrew Moran The American people are losing confidence in Federal Reserve Chair Jerome Powell’s leadership as the U.S. economy grapples with crushing inflation and ...
  • Florida Activists Secretly Ship Free Sex-Change Kits to Children Around the CountryFlorida Activists Secretly Ship Free Sex-Change Kits to Children Around the Country
    By Jackson Elliott An Epoch Times investigation discovered a Florida activist group secretly sent hundreds of children transgender sex-change kits across the country. The “Build-A-Queer” kits ...
  • Judge Fast-Tracks Hearing on Kari Lake’s Final Election ChallengeJudge Fast-Tracks Hearing on Kari Lake’s Final Election Challenge
    By Jack Phillips A Maricopa County judge on Monday scheduled oral arguments for Friday about whether or not to hold a trial on a claim ...
  • Alan Dershowitz: ‘No Way’ Case Against Trump in Fulton County Can Be SuccessfulAlan Dershowitz: ‘No Way’ Case Against Trump in Fulton County Can Be Successful
    By Jan Jekielek and Bill Pan There isn’t anything for former President Donald Trump to worry about with a potential lawsuit coming from a Georgia ...
  • Government Employees Sue Biden, Yellen to Force Override of Debt CeilingGovernment Employees Sue Biden, Yellen to Force Override of Debt Ceiling
    By Tom Ozimek President Joe Biden and Treasury Secretary Janet Yellen have been sued by a union representing some 75,000 government employees demanding that the ...
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