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

Propelled By Trump, J.D. Vance Wins Ohio GOP Senate Primary

By Jeff Louderback CINCINNATI, Ohio—J.D. Vance, the Hillbilly Elegy author and venture capitalist who secured the endorsement of Donald Trump, defeated Josh Mandel and five other opponents in ...

Judge Orders Fusion GPS Tech Expert to Testify in Clinton Attorney’s Trial

By John Haughey A Fusion GPS employee with “unique insight” into how her company, the Clinton campaign, and its law firm orchestrated “opposition research” into the Trump ...

D’Souza Film Takes Proof of 2020 Election Fraud to Mass Audience

By Steven Kovac STERLING HEIGHTS, Mich.—A new movie by conservative activist Dinesh D’Souza exposing illegal vote trafficking in battleground states in the 2020 election opened ...

Supreme Court Has Decided to Overturn Roe v. Wade, Leaked Opinion Suggests

By Matthew Vadum A document that Politico describes as an “initial draft majority opinion” written by Justice Samuel Alito suggests the Supreme Court has decided to strike ...

Hunter Biden Probe Needs Independent Counsel: Peter Schweizer

By Hannah Ng Author and investigative journalist Peter Schweizer has called for a special counsel to take on the investigation into Hunter Biden that’s being conducted in ...

Trump Endorses Mike Pence’s Brother for Congressional Reelection in Indiana

By Lorenz Duchamps Former President Donald Trump on Friday endorsed the older brother of former Vice President Mike Pence, Rep. Greg Pence (R-Ind.), in his congressional reelection ...

Ohio Gubernatorial Candidates Looking to Unseat DeWine

By Michael Sakal Three Republicans are in a heated raced to unseat Ohio Gov. Mike DeWine in the May 3 primary: Joe Blystone, Ron Hood, and Jim ...

Elon Musk Tells Rep. Ocasio-Cortez ‘Stop Hitting on Me’ After She Takes Swipe at Billionaire on Twitter

By Katabella Roberts Elon Musk told Democratic lawmaker Rep. Alexandria Ocasio-Cortez (N.Y.) to “stop hitting on me” on Friday after she took aim at what she called a ...

New Jan. 6 Bodycam Videos Show DC Police Officer Assaulting Unconscious Protester

By Joseph M. Hanneman A District of Columbia police officer used a large wooden stick to strike the body and head of protester Rosanne Boyland three ...

Republican Lawmakers Voice Concern Over Biden’s ‘Orwellian’ Disinformation Board

By Frank Fang Several Republicans from the House and Senate are voicing concerns over the Biden administration’s decision to create the new Disinformation Governance Board ...

Proposal to Prohibit Teaching Critical Race Theory in Texas School District Wins Majority Approval in Public Comment

By Matt McGregor TEXAS—The majority vote in public comment chose to favor proposed policies that will put guardrails on social-emotional learning (SEL) programs and prohibit critical race ...

Sexualized Curriculum, ‘Unconstitutional’ Redistricting Are Hot Topics at North Carolina GOP Meet and Greet

By Jackson Elliot COLUMBUS, N.C.—North Carolina Republican candidates spoke on several election issues at a meet-and-greet lunch for the state’s 11th Congressional District. Most of the candidates ...