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Category: Economy

The US Economy

GOP senators pitch extending extra unemployment aid through end of year
Posted inEconomy

GOP senators pitch extending extra unemployment aid through end of year

USNN World Newsby USNN World NewsAugust 6, 2020August 6, 2020
Capital One slapped with $80M fine for 2019 data hack
Posted inEconomy

Capital One slapped with $80M fine for 2019 data hack

USNN World Newsby 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.”
Posted inEconomy

In SALT cap stimulus square-off, lawmakers squabble over $10,000 deduction limit

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
McConnell open to extending $600 unemployment boost in coronavirus stimulus deal
Posted inEconomy

McConnell open to extending $600 unemployment boost in coronavirus stimulus deal

USNN World Newsby USNN World NewsAugust 5, 2020August 19, 2024
McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion
Posted inEconomy

McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
Stocks rally as slow coronavirus-relief talks move in 'right direction'
Posted inEconomy

Stocks rally as slow coronavirus-relief talks move in ‘right direction’

USNN World Newsby USNN World NewsAugust 4, 2020December 5, 2024
White House considering unilateral actions with coronavirus aid bill stuck in Congress
Posted inEconomy

White House considering unilateral actions with coronavirus aid bill stuck in Congress

USNN World Newsby USNN World NewsAugust 3, 2020August 3, 2020
Democrats, White House still at odds over extra coronavirus unemployment benefits
Posted inEconomy

Democrats, White House still at odds over extra coronavirus unemployment benefits

USNN World Newsby USNN World NewsAugust 2, 2020August 2, 2020
Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill
Posted inEconomy

Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill

USNN World Newsby USNN World NewsAugust 1, 2020August 1, 2020
Trump says second stimulus check could be 'way higher' than $1,200
Posted inEconomy

Trump says second stimulus check could be ‘way higher’ than $1,200

USNN World Newsby USNN World NewsJuly 30, 2020July 30, 2020
Lawmakers face a tight deadline
Posted inEconomy

Trump calls GOP coronavirus proposal ‘semi-irrelevant’ as deal appears far off

USNN World Newsby USNN World NewsJuly 29, 2020July 29, 2020
SBA disaster loan investigation reveals rampant fraud: Report
Posted inEconomy

SBA disaster loan investigation reveals rampant fraud: Report

USNN World Newsby USNN World NewsJuly 29, 2020July 29, 2020

Posts pagination

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NATIONAL NEWS

  • Derek Chauvin Found Guilty on All Charges in Death of George FloydDerek Chauvin Found Guilty on All Charges in Death of George Floyd
    By Zachary Stieber Former Minneapolis police officer Derek Chauvin on April 20 was convicted of all three charges in the death of George Floyd. Jurors convicted Chauvin ...
  • Jury Reaches Verdict in Trial of Derek ChauvinJury Reaches Verdict in Trial of Derek Chauvin
    By Zachary Stieber Update: Chauvin was found guilty on all three counts. Original story below. Jurors have decided on a verdict in the trial of former Minneapolis police ...
  • Rep. Tlaib’s Comments on ‘Inherently Racist’ Policing Are ‘Reckless and Disgusting’: Detroit Police ChiefRep. Tlaib’s Comments on ‘Inherently Racist’ Policing Are ‘Reckless and Disgusting’: Detroit Police Chief
    By Tom Ozimek Detroit Police chief James Craig said on Monday that it was “reckless and disgusting” for Rep. Rashida Tlaib (D-Mich.) to say that policing in ...
  • In Closing Arguments, Prosecutor Says Chauvin Killed Floyd, Defense Says ‘Reasonable Doubt’ ExistsIn Closing Arguments, Prosecutor Says Chauvin Killed Floyd, Defense Says ‘Reasonable Doubt’ Exists
    By Zachary Stieber https://youtu.be/tpLys16Asc0 Jurors start considering verdict in Chauvin case after closing arguments. Jurors in the trial of former Minneapolis police officer Derek Chauvin were presented with closing ...
  • MyPillow Sues Dominion Voting Systems for $1.6 BillionMyPillow Sues Dominion Voting Systems for $1.6 Billion
    By Zachary Stieber MyPillow sued Dominion Voting Systems on April 19 for $1.6 billion, asserting that the election technology company unlawfully interfered with the free speech rights ...
  • Rubio: Nobody in GOP Can Defeat Trump in 2024Rubio: Nobody in GOP Can Defeat Trump in 2024
    By Jack Phillips If former President Donald Trump decides to run for president in 2024, no Republican can defeat him, said Sen. Marco Rubio (R-Fla.) in an interview Wednesday. It ...
  • Trump Alumni Launch Largest Non-Profit to Advance America First PolicyTrump Alumni Launch Largest Non-Profit to Advance America First Policy
    By Li Hai A group of former President Donald Trump’s cabinet members and senior advisors launched the America First Policy Institute (AFPI) on Tuesday to ...
  • CNN Staffer Claims Network Pushed ‘Propaganda’ to ‘Get Trump Out of Office’: Undercover VideoCNN Staffer Claims Network Pushed ‘Propaganda’ to ‘Get Trump Out of Office’: Undercover Video
    By Isabel Van Brugen A CNN staffer was caught on hidden camera saying that the network worked during the 2020 presidential election to produce content that would ...
  • Nikki Haley Says She Will Not Run for President in 2024 If Trump DoesNikki Haley Says She Will Not Run for President in 2024 If Trump Does
    By Zachary Stieber A top potential Republican 2024 president candidate said Monday she will not launch a bid if former President Donald Trump decides to run again. “I ...
  • Trump Predicts GOP Will Retake Congress in 2022, White House in 2024Trump Predicts GOP Will Retake Congress in 2022, White House in 2024
    By Jack Phillips Former President Donald Trump, in a speech to Republican donors on April 10, predicted that the GOP will win back both houses of Congress ...
  • Evangelist Franklin Graham Says Trump’s Wealth Declined While in Office Because He Put ‘America First’Evangelist Franklin Graham Says Trump’s Wealth Declined While in Office Because He Put ‘America First’
    By Janita Kan Evangelist Franklin Graham has defended Donald Trump’s legacy after Forbes reported that the former president’s wealth fell by nearly a third during his ...
  • Arizona Governor Signs Bill Banning Private Donations for Election ProcessesArizona Governor Signs Bill Banning Private Donations for Election Processes
    By Isabel Van Brugen Arizona Gov. Doug Ducey on Friday signed legislation that prohibits donations for election operations in the state. “With public confidence in our elections ...
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