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

New York City Firehouses Face Shutdowns Amid De Blasio’s Vaccine Mandate

By Tom Ozimek Rep. Nicole Malliotakis (R-N.Y.) said 26 New York City firehouses halted operations on Saturday “due to Mayor de Blasio’s decision to lock unvaccinated firefighters ...

Intolerance of Dissenting Views Suppressing Tough Questions About Inflation, Afghanistan, COVID-19: Peter Thiel

By Nathan Worcester In his keynote address to the National Conservatism Conference Oct. 31, billionaire tech entrepreneur Peter Thiel argued that false consensus has silenced ...

Amid Shortages and Delays, Industries Question Old Inventory Strategies

By Rachel Hartman Ongoing disruptions in America’s supply chains have prompted manufacturers to review and modify their inventory management systems. Just-in-time (JIT) inventory management, which calls for the ...

New Hampshire School Boards Association Leaves National Organization Over Parent Controversy

By Christopher Burroughs The New Hampshire School Boards Association (NHSBA) announced Thursday that it has withdrawn from the national organization following the group’s efforts to target parents. The ...

NYC: 40 Percent of Inspected Businesses Noncompliant With Vaccine Pass Mandate

By Petr Svab NEW YORK CITY—Approximately two in five New York City restaurants, gyms, and entertainment venues weren’t fully abiding by the city’s COVID-19 vaccination ...

Democrats’ IRS Snooping Scheme Removed After Bipartisan Criticism

By Joseph Lord Congressional leadership has cut a controversial program from their new budget bill that would have allowed the IRS to gain unprecedented information from Americans’ ...

Judge Blocks Biden Admin From Firing Unvaccinated Employees With Pending Religious Exemptions

By Jack Phillips A district court judge in Washington, D.C. issued a temporary injunction Thursday that bars both civilian and military plaintiffs from being fired after they filed ...

Trust of US media in ‘free fall,’ lowest in world

By Paul Bedard, Washington Secrets Columnist The public’s trust in news outlets is among the lowest in the free world, a trend that has spiraled ...

Cuomo to be arrested, appear in court for forcible touching charge: Sheriff

By Carl Roman, Associate News Editor Former New York Gov. Andrew Cuomo will be arrested and appear in court next month in connection to a charge of ...

Hill Republicans Push Vaccine Exemptions as Mandate Protests Mount

By Mark Tapscott Congressional Republicans are pushing proposals to exempt millions of American workers who object to President Joe Biden’s mandatory CCP virus vaccination orders and similar ...

The Destruction of U.S. Medical Care: Mayo Clinic to Lose 8000 Employees who Refuse the COVID-19 Shot

By Brian Shilhavy, Editor Health Impact News In another sign that the medical system in the United States is self-destructing due to COVID-19 vaccines and ...

Democrats Unveil Plan to Tax Unrealized Capital Gains

By Joseph Lord Senate Democrats plan to reveal a revenue scheme for their multi-trillion dollar budget bill that would tax unrealized capital gains, a move targeted towards the richest ...