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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

Newer posts 1 … 83 84 85 86 87 … 102 Older posts

NATIONAL NEWS

  • Tiger Woods Hospitalized With Multiple Leg Injuries After Car CrashTiger Woods Hospitalized With Multiple Leg Injuries After Car Crash
    By Reuters LOS ANGELES—Golfer Tiger Woods was rushed to a Los Angeles hospital on Tuesday after suffering multiple injuries when his car went off a road and rolled down a steep ...
  • Trump Attorney’s New Show to Focus on Nexus Between Law, Current IssuesTrump Attorney’s New Show to Focus on Nexus Between Law, Current Issues
    By Ivan Pentchoukov One of the key attorneys who worked on President Donald Trump’s post-election legal effort will focus on the intersection of Constitutional law and the ...
  • Texas Blocks Utilities from Billing Customers or Disconnecting for Non-Payment After Sticker Shock OutrageTexas Blocks Utilities from Billing Customers or Disconnecting for Non-Payment After Sticker Shock Outrage
    By Tom Ozimek Outcry over skyrocketing energy bills following the severe cold snap that threw millions of Texans into the dark and with no safe ...
  • Vast Majority of GOP Voters Say Leaders Should Be ‘More Like’ Trump: PollVast Majority of GOP Voters Say Leaders Should Be ‘More Like’ Trump: Poll
    By Jack Phillips A new poll found that 73 percent of likely Republican voters said that the party’s leaders should be “more like” former President Donald Trump. The survey from ...
  • Donald Trump ‘Probably’ Interested in 2024 Presidential Run: Lara TrumpDonald Trump ‘Probably’ Interested in 2024 Presidential Run: Lara Trump
    By Isabel Van Brugen Former President Donald Trump’s daughter-in-law and former senior adviser Lara Trump indicated that he is “probably” interested in running for office in 2024. “He has ...
  • YouTube Takes Down New Trump InterviewYouTube Takes Down New Trump Interview
    By Zachary Stieber YouTube took down a newly recorded interview with former President Donald Trump in Google’s latest action against conservatives. A Newsmax spokesperson told The Epoch Times via email that the ...
  • Trump to Talk About the Future of Republican Party at CPAC: Senior AdviserTrump to Talk About the Future of Republican Party at CPAC: Senior Adviser
    By Janita Kan Former President Donald Trump will talk about the future of the Republican party and lessons learned in 2020 during his upcoming speech ...
  • Republican House Whip Scalise Meets With Donald TrumpRepublican House Whip Scalise Meets With Donald Trump
    By Zachary Stieber The No. 2 Republican in the House of Representatives met with former President Donald Trump this week, his office confirmed to The Epoch Times. House ...
  • Biden Silent Over Big Tech Suspensions Because He ‘Benefits From the Censorship,’ Banned Journalist SaysBiden Silent Over Big Tech Suspensions Because He ‘Benefits From the Censorship,’ Banned Journalist Says
    By Jack Phillips and Jan Jekielek After he was suspended from Twitter this week, journalist Paul Sperry said the White House is silent over Big Tech censorship ...
  • NASA’s Astrobiology Rover Perseverance Makes Historic Mars LandingNASA’s Astrobiology Rover Perseverance Makes Historic Mars Landing
    By Reuters LOS ANGELES—NASA’s science rover Perseverance, the most advanced astrobiology laboratory ever sent to another world, streaked through the Martian atmosphere on Thursday and landed safely ...
  • DOJ Changes Legal Position in Arizona Voting CaseDOJ Changes Legal Position in Arizona Voting Case
    By Matthew Vadum The Biden administration changed its position on an upcoming Supreme Court appeal dealing with Arizona’s electoral integrity laws, disavowing the previous administration’s interpretation ...
  • Trump Says He’s Considering New Social Media Platform: ‘You Can Literally Build Your Own Site’Trump Says He’s Considering New Social Media Platform: ‘You Can Literally Build Your Own Site’
    By Jack Phillips Former President Donald Trump is considering joining a new social media platform but stated he might create his own—coming after he was suspended by ...
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