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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

  • Trump: FBI Raid ‘Political’ Interference Ahead of 2022 ElectionsTrump: FBI Raid ‘Political’ Interference Ahead of 2022 Elections
    By Jack Phillips Former President Donald Trump accused the FBI and Department of Justice of engaging in political interference ahead of the 2022 midterm elections and possibly even the ...
  • Biden Responds to Trump’s Declassification Order ClaimsBiden Responds to Trump’s Declassification Order Claims
    By Jack Phillips President Joe Biden issued a response to assertions made by former President Donald Trump and his team that he declassified materials that were taken to Mar-a-Lago, ...
  • Judge Signals Intent to Back Trump’s Request for Mar-a-Lago Special MasterJudge Signals Intent to Back Trump’s Request for Mar-a-Lago Special Master
    By Eva Fu and Roman Balmakov A federal judge on Aug. 27 announced a preliminary intent to appoint a neutral third party to review documents ...
  • 1,100 Scientists and Professionals Declare: ‘There Is No Climate Emergency’1,100 Scientists and Professionals Declare: ‘There Is No Climate Emergency’
    By Allen Stein More than 1,100 scientists and professionals worldwide have signed a World Climate Declaration (WCD) stating that there is no climate emergency. The independent ...
  • National File Publisher: Case Against Florida Pair Proves Ashley Biden Diary Is LegitimateNational File Publisher: Case Against Florida Pair Proves Ashley Biden Diary Is Legitimate
    By Zachary Stieber The cases brought against two Florida residents for their handling of property belonging to President Joe Biden’s daughter prove that a document ...
  • Former Director of National Intelligence: Nothing in Affidavit Supported ‘Extreme’ FBI Trump RaidFormer Director of National Intelligence: Nothing in Affidavit Supported ‘Extreme’ FBI Trump Raid
    By Zachary Stieber No portions of the redacted search warrant affidavit supported the Biden administration taking the unprecedented step of raiding a former president’s home, ...
  • New Whistleblower Claims FBI Leaders Delayed Hunter Biden Investigation: Sen. JohnsonNew Whistleblower Claims FBI Leaders Delayed Hunter Biden Investigation: Sen. Johnson
    By Jack Phillips Another FBI whistleblower has come forward to say that the bureau delayed its investigation into Hunter Biden’s laptop hard drive, according to a Senate Republican ...
  • Trump: Affidavit Shows Search Warrant Never Should Have Been ApprovedTrump: Affidavit Shows Search Warrant Never Should Have Been Approved
    By Zachary Stieber The newly released affidavit that prompted a judge to approve a search warrant for former President Donald Trump’s home in Florida shows the warrant should ...
  • Search Warrant Affidavit for Trump’s Mar-a-Lago Home ReleasedSearch Warrant Affidavit for Trump’s Mar-a-Lago Home Released
    By Zachary Stieber The document that convinced a judge to approve a search warrant for former President Donald Trump’s home in Florida was made public on ...
  • Taxpayers on the Hook for Ruling-Class DebtsTaxpayers on the Hook for Ruling-Class Debts
    By Jeffrey A. Tucker Commentary Remember the transitional and temporary inflation that was supposed to come and go? We’re now getting warnings from high up that this is ...
  • Upcoming Artemis 1 Launch a Step Towards Completing Trump’s ObjectiveUpcoming Artemis 1 Launch a Step Towards Completing Trump’s Objective
    By Katie Spence NASA’s Moon exploration dry spell is coming to an end on Aug. 29, as for the first time in almost 50 years, ...
  • FBI Search Warrant Affidavit for Trump’s Home to Be Made Public: JudgeFBI Search Warrant Affidavit for Trump’s Home to Be Made Public: Judge
    By Zachary Stieber The affidavit that convinced a judge to approve a search warrant for former President Donald Trump’s home will be unsealed by Aug. 26 ...
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