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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

  • Trump to Appear on ‘Hannity’ Following Rush Limbaugh’s DeathTrump to Appear on ‘Hannity’ Following Rush Limbaugh’s Death
    By Jack Phillips Former President Donald Trump will appear on Fox News’ “Sean Hannity” on Wednesday night after Rush Limbaugh’s death. The former president will also likely speak about ...
  • Trump ‘Is the Most Powerful Political Figure’ in US: Sen. Tim ScottTrump ‘Is the Most Powerful Political Figure’ in US: Sen. Tim Scott
    By Jack Phillips Sen. Tim Scott (R-S.C.) weighed in on the war-of-words between former President Donald Trump and Senate GOP Leader Mitch McConnell (R-Ky.), noting ...
  • Trump Reacts to Rush Limbaugh’s Death: ‘Very Brave Guy’Trump Reacts to Rush Limbaugh’s Death: ‘Very Brave Guy’
    By Jack Phillips Following conservative radio host Rush Limbaugh’s death on Wednesday, tributes poured in, including one from former President Donald Trump. “He would just talk for two hours ...
  • CNN, NBC Paid Antifa Activist for Footage From Capitol BreachCNN, NBC Paid Antifa Activist for Footage From Capitol Breach
    By Zachary Stieber Three news agencies paid an activist who identifies as Antifa and was charged for allegedly committing crimes during the Jan. 6 breach ...
  • Kentucky County Demands Mitch McConnell Resign as Republican Senate LeaderKentucky County Demands Mitch McConnell Resign as Republican Senate Leader
    By Jack Phillips A county Republican Party in Kentucky demanded that Senate Minority Leader Mitch McConnell (R-Ky.) resign as leader after his comments on the Senate floor over ...
  • Texas Independence Movement Gains MomentumTexas Independence Movement Gains Momentum
    By Ella Kietlinska and Joshua Phillipp Proponents of Texas independence anticipate winning the referendum in which Texans will decide whether a process to determine the best way ...
  • READ: Former President Donald Trump’s Full Statement on Mitch McConnellREAD: Former President Donald Trump’s Full Statement on Mitch McConnell
    By The Epoch Times Staff Former President Donald Trump issued a statement on Mitch McConnell on Tuesday. Read the full statement here: Statement by Donald J. Trump, 45th President ...
  • Trump Says GOP Won’t Win With McConnell, Plans to Back MAGA Primary CandidatesTrump Says GOP Won’t Win With McConnell, Plans to Back MAGA Primary Candidates
    By Jack Phillips Former President Donald Trump, in a strongly-worded statement, criticized Senate Minority Leader Mitch McConnell’s (R-Ky.) leadership and said the Republican Party won’t be successful in ...
  • Aim of Impeachment Was to Paint All Trump Voters as CriminalsAim of Impeachment Was to Paint All Trump Voters as Criminals
    By Tom Ozimek Rep. Mike Johnson (R-La.) says Democrats used the impeachment of former President Donald Trump as a tool to paint all of his supporters with the brush ...
  • Support for Third US Political Party Reaches High Point: PollSupport for Third US Political Party Reaches High Point: Poll
    By Zachary Stieber Some six out of 10 people believe America needs a third political party to jockey with Republicans and Democrats because those parties ...
  • Dominion Owned Machines Removed 6% of Votes from Each Windham, New Hampshire GOP Candidate – Same Machines Used in 85% of TownsDominion Owned Machines Removed 6% of Votes from Each Windham, New Hampshire GOP Candidate – Same Machines Used in 85% of Towns
    By Jim Hoft Here is a major update to our report on voter fraud in New Hampshire. As we previously reported — A recent hand recount in ...
  • Biden Calls on Congress to Restrict Gun OwnershipBiden Calls on Congress to Restrict Gun Ownership
    By Zachary Stieber President Joe Biden on Feb. 14 urged Congress to strengthen existing laws concerning gun ownership on the third anniversary of the mass shooting at ...
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