Economy - 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

Georgia Secretary of State GOP Primary Could Hinge on Voter Knowledge of Trump Endorsement

By Nanette Holt Undecided voters and an endorsement from former President Donald Trump could tip the results in Tuesday’s primary elections for secretary of state, ...

Biden Says US Considering Removing Tariffs on China

By Aldgra Fredly President Joe Biden said on Monday that his administration is “considering” removing some Trump-era trade tariffs currently imposed on China, as a measure ...

Pelosi Barred by Catholic Church From Receiving Communion Over Abortion Advocacy

By Joseph Lord Speaker of the House Nancy Pelosi (D-Calif.) has been barred by the Catholic Church from receiving Holy Communion over her support of abortion, which the Catholic ...

Rubio Accuses Google of Election Bias, Censoring Campaign Emails

By Rita Li Sen. Marco Rubio (R-Fla.) blamed Google for allegedly filtering his emails to supporters in the run-up to the midterms this fall, describing on May ...

Georgia’s Record-Breaking Early Voting Turnout Defies ‘Voter Suppression’ Accusations

By Tom Ozimek Early voting in Georgia broke records this week despite last year’s adoption of election integrity measures that critics derided as “voter suppression” and President Joe Biden ...

Hillary Clinton Approved Giving Trump-Russia Allegations to Reporter: Testimony

By John Haughey and Zachary Stieber WASHINGTON—Hillary Clinton greenlighted the plan to give allegations against Donald Trump to a reporter ahead of the 2016 election, Clinton’s campaign manager testified ...

Florida Court Overturns Ruling on DeSantis Redistricting Map

By Caden Pearson A Florida appeals court ruled Friday to reinstate a redrawn congressional map that Gov. Ron DeSantis proposed ahead of the 2022 midterm elections after ...

Trump Lawyers Demand Intelligence Agencies Punish Ex-employees Who Claimed Russians Were Behind Hunter Biden Laptop

By Zachary Stieber The former employees at the CIA and other U.S. intelligence agencies should be punished for claiming stories about emails on a computer belonging to ...

Elon Musk Calls ESG ‘A Scam’ After S&P Index Drops Tesla

By Nathan Worcester Elon Musk called the environmental, social, and governance (ESG) scoring “a scam” in a series of Twitter posts on May 18, citing S&P ...

‘My Son Hunter’ Movie Producer Says Hunter Biden’s Attorney Infiltrated His Film Set

By Frank Fang and David Zhang Phelim McAleer, a producer of the upcoming independent movie “My Son Hunter” exposing alleged corruption in the Biden family, ...

New York Times Falsely Reports Thousands of Children Have Died From COVID-Linked Syndrome

By Zachary Stieber The New York Times on May 19 falsely reported that thousands of children have died during the pandemic from multisystem inflammatory syndrome in children ...

Judge Denies Former Clinton Lawyer’s Request for Mistrial

By John Haughey and Zachary Stieber WASHINGTON—A federal judge on May 19 denied a request for a mistrial from the former Hillary Clinton campaign lawyer who is on trial for ...