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

DeSantis Rejects Biden Admin Request for National Guard at State of the Union

By Janis Falkenstern PUNTA GORDA, Fla.—Florida Gov. Ron DeSantis took on Feb. 28 rejected a request from the Biden administration to deploy the Florida National ...

The Clinton Campaign’s Two-Pronged Plan to Create the Trump–Russia Collusion Narrative

By Jeff Carlson and Hans Mahncke News analysis In Oct. 2016, Wikileaks released a little-noticed email exchange involving Clinton communications director Jennifer Palmieri and Democratic strategist Joel Johnson. ...

BIDEN’S BORDER BETRAYAL

By The WND Staff Difficult as it is for most Americans to even imagine, from day one the Biden-Harris administration has literally engineered a full-scale ...

Dr. Robert Malone: ‘Time of choosing’ for CDC scientists after bombshell NYT report

By Art Moore It’s a “time of choosing” for CDC scientists and physicians in the wake of the blockbuster New York Times story citing unnamed agency officials ...

Biden accused of ‘cover-up’ with pandemic-relief fraud

By WND Staff A key Republican on the House Ways and Means Committee is citing billions of dollars in pandemic-relief fraud in accusing Joe Biden ...

Biden underwater on all key issues, independent support halved: Gallup

By Paul Bedard, Washington Secrets Columnists President Joe Biden’s downward spiral in polling that started with the bungled withdrawal from Afghanistan at the end of ...

Governor candidate’s ad accuses TV stations of airing ‘fake news’ DURING newscasts!

By Bob Unruh Kari Lake, the candidate for Arizona governor who has earned the support of President Trump, already has taken to task multiple reporters ...

What’s this? Top DEMOCRAT will headline a speech at CPAC

By Andrew Trunsky Former Rep. Tulsi Gabbard, a Democrat from Hawaii who ran for president in 2020 and has been critical of President Joe Biden, ...

Democrats Roll out a Desperate Strategy to Deflect Blame for Their Failures

By Bonche Unless the goal is to receive backslaps from a sycophantic mainstream media, it’s not a good time to be a Democrat. Things have ...

Democrats step in, acquire BLM operations, slogan

By Bob Unruh The Black Lives Matter movement is the latest in a long line of black power agenda groups that date back decades to ...

‘It’s the jab’: Top insurance companies report spike in excess deaths

By Art Moore In January, the CEO of a major Midwest insurance company disclosed in a virtual Chamber of Commerce meeting that his company had seen a ...

Democrats only now discover that their culture wars are unpopular

By Zachary Faria, Commentary Fellow Research by the Democratic Congressional Campaign Committee indicates that battleground voters view the Democratic Party as “preachy,” “judgmental,” and “focused ...