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Category: Economy

The US Economy

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
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

Posts pagination

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

NATIONAL NEWS

  • Republicans Seek to Divert IRS Enforcement Funding Boost for Border SecurityRepublicans Seek to Divert IRS Enforcement Funding Boost for Border Security
    By Tom Ozimek House Republicans have released a draft bill that would halt the nearly $50 billion funding boost for Internal Revenue Service (IRS) enforcement ...
  • FBI Agents Improperly Saw Privileged Trump Communications: LawyersFBI Agents Improperly Saw Privileged Trump Communications: Lawyers
    By Zachary Stieber The FBI team that seized documents from former president Donald Trump’s resort improperly viewed communications between Trump and an attorney, violating attorney-client privilege for a ...
  • 2 Million Floridians Without Power as Weakened Ian Batters Peninsula2 Million Floridians Without Power as Weakened Ian Batters Peninsula
    By Caden Pearson More than 2 million are without power Wednesday night as a weakened Hurricane Ian batters the Florida Peninsula after making landfall hours earlier over ...
  • Six Minnesota Counties Have 515 Duplicate Registrations on Voter Rolls, Watchdog AllegesSix Minnesota Counties Have 515 Duplicate Registrations on Voter Rolls, Watchdog Alleges
    By Steven Kovac Six weeks before the midterm elections, six Minnesota county election officials are alleged to have failed to remove 515 duplicate registrations from ...
  • Blinken, Mayorkas Should Secure US Border or Face Congressional Investigation: GOP LawmakerBlinken, Mayorkas Should Secure US Border or Face Congressional Investigation: GOP Lawmaker
    By Frank Fang Secretary of State Antony Blinken and Homeland Security Secretary Alejandro Mayorkas have been warned that they will face congressional probes if they can’t secure ...
  • Trump Reveals His Biggest Fear, Warns ‘We’re at the Most Dangerous Time … Maybe Ever’Trump Reveals His Biggest Fear, Warns ‘We’re at the Most Dangerous Time … Maybe Ever’
    By Tom Ozimek Former President Donald Trump said his biggest worry now is where geopolitical tensions over Ukraine and Taiwan may be headed, saying that he thinks ...
  • FBI Changes Total Number of Documents Seized From Trump’s EstateFBI Changes Total Number of Documents Seized From Trump’s Estate
    By Zachary Stieber The FBI on Sept. 26 changed the total number of documents it said it seized from former President Donald Trump’s estate. Sixty-three additional documents or photographs ...
  • Department of Justice Seeks Another Delay in Turning Over Documents From Mar-a-Lago to TrumpDepartment of Justice Seeks Another Delay in Turning Over Documents From Mar-a-Lago to Trump
    By Zachary Stieber U.S. Department of Justice (DOJ) lawyers are seeking another delay in allowing lawyers for former President Donald Trump to peruse documents seized in August from Trump’s ...
  • Most Americans Support Biden’s Student Loan Handout Until They Realize It Raises Taxes: PollMost Americans Support Biden’s Student Loan Handout Until They Realize It Raises Taxes: Poll
    By Bill Pan A majority of Americans would oppose President Joe Biden’s plan to “forgive” billions of dollars of federal student loan debt if it led to ...
  • Bill Making it Harder for Lawmakers to Object to Presidential Results Advances in SenateBill Making it Harder for Lawmakers to Object to Presidential Results Advances in Senate
    By Mimi Nguyen Ly A measure that would reform the Electoral Count Act of 1887 and make it harder for members of Congress to object to or ...
  • Biden Administration’s Student Debt Relief Order Is Illegal: LawsuitsBiden Administration’s Student Debt Relief Order Is Illegal: Lawsuits
    By Zachary Stieber President Joe Biden’s administration has been hit with the first lawsuits against a recently unveiled order that would—unless blocked—cancel thousands of dollars in ...
  • Gun Control in Tough Spot in Increasingly Well-Armed AmericaGun Control in Tough Spot in Increasingly Well-Armed America
    By Petr Svab The dream of a gun-free America has never been more ephemeral. While calls for gun control still abound, their effectiveness is thrown ...
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