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 strikes against Biden immigration policy with amended lawsuit

By Heather Hamilton, Social Media Reporter Florida Gov. Ron DeSantis and Attorney General Ashley Moody filed an amended complaint saying the Biden administration’s latest immigration policy is unlawful. The new policy, called “Parole ...

499 Arizonans Claim Stores as Legal Residences: 110 Voted in 2020, Study Finds

By Steven Kovac A study released on Jan. 31 by the nonpartisan Public Interest Legal Foundation (PILF) has revealed many irregularities on Arizona’s voter rolls. Records examined in Maricopa County found ...

Durham Filing Rebuts Inspector General Horowitz’s Claims on Missing Cellphones, Hints at Growing Rift

By Jeff Carlson and Hans Mahncke News Analysis A supplemental court filing by special counsel John Durham confirms previous reporting that Department of Justice (DOJ) Inspector General Michael Horowitz concealed crucial information from Durham in ...

Democratic Senators Unveil Legislation to Change Electoral Count Act

By Joseph Lord A group of Democratic and Democratic-aligned senators on Tuesday unveiled a bill that would make several changes to the 1887 Electoral Count ...

US Lawmakers Bought and Sold Over $350 Million Worth of Stocks in 2021

By Tom Ozimek Lawmakers on Capitol Hill had a busy 2021 not just crafting legislation but also in terms of personal financial transactions, with members ...

Fauci Knew About Virus Lab Origin From Secret Teleconference, Pushed Alternate Narrative: Jeff Carlson and Hans Mahncke

By Katabella Roberts and Joshua Philipp Dr. Anthony Fauci was told in a secret teleconference that the CCP virus had very likely leaked from a laboratory in China, yet ...

The Party of Insurrection

By David Kupelian One year after the Jan. 6 Capitol riot, President Joe Biden gravely informed the nation that the incident, during which exactly one person, ...

I Won’t ‘Sit Down and Shut Up’: Mark Finchem on His Race for Arizona Secretary of State

By Harry Lee Mark Finchem, a four-term Arizona state representative and a Republican, said that he is running for secretary of state because he couldn’t ...

Georgia Secretary of State Calls for Release of ‘Secret Report’ on Dominion Voting Machines

By Zachary Stieber Georgia’s secretary of state has joined plaintiffs in lawsuit filed against him in calling for the release of a report that analyzes Dominion ...

McConnell, Other Republicans Warn Against Letting ‘Radical Left’ Hijack Supreme Court Pick

By Joseph Lord Senate Minority Leader Mitch McConnell (R-Ky.) and other Republicans are advising President Joe Biden not to “outsource” his Supreme Court pick to “the radical left,” warning ...

Jonathan Turley: Biden’s Supreme Court ‘diversity’ criteria ‘unconstitutional’

By Art Moore President Biden confirmed Thursday that he will fulfill his campaign promise to nominate a black woman to the Supreme Court, but constitutional ...

Internal Revenue Service Seeing ‘Mountains of Fraud’ in Cryptocurrencies, NFTs: Special Agent

By Katabella Roberts A special agent from the Internal Revenue Service has warned that non-fungible tokens (NFTs) and cryptocurrencies are highly susceptible to fraud and manipulation as they ...