Economy - USNN World News

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

Economy

SBA disaster loan investigation reveals rampant fraud: Report

by USNN World NewsJuly 29, 2020July 29, 2020

Economy

Rep. Gohmert compares GOP and Democrat coronavirus stimulus proposals

by USNN World NewsJuly 28, 2020July 28, 2020

NATIONAL NEWS

Trump: Barr ‘Had an Obligation to Set the Record Straight’ on Hunter Biden Investigation

By Jack Phillips President Donald Trump said that Attorney General William Barr was obligated to investigate Joe Biden’s son Hunter and his overseas business dealings. “Joe Biden lied on ...

Georgia Lawmaker: ‘What They’ve Done Is Awaken a Sleeping Giant’

By Charlotte Cuthbertson WASHINGTON—Vernon Jones, State Representative in the Georgia House of Representatives, says he is surprised more people haven’t stood up to do the ...

Sen. Ron Johnson: Voters Should Have Known About DOJ Hunter Biden Investigation

By Jack Phillips Sen. Ron Johnson (R-Wis.) said Congress should have been told whether Hunter Biden’s business dealings were being investigated as they were considering to ...

Sidney Powell: Trump Could Trigger 2018 Executive Order on Foreign Election Interference

By Jack Philips and Jan Jekielek Lawyer Sidney Powell asserted that due to alleged foreign interference in the Nov. 3 election, “it’s more than sufficient to trigger” ...

Georgia Supreme Court Declines to Hear Trump Lawsuit Ahead of Electoral College Vote

By Jack Phillips The Supreme Court of Georgia declined to hear an election challenge filed by President Donald Trump’s team before the Dec. 14 Electoral College vote. The court said that it “lacks ...

Powell Asks Supreme Court to Immediately Order States Decertify Election Results

By Janita Kan Attorney Sidney Powell is asking the U.S. Supreme Court to immediately intervene in her lawsuits challenging the integrity and outcome of the 2020 elections in four ...

Georgia County Commission Took $6.3 Million from Mark Zuckerberg Group

By Jay Greenberg Fulton County officials accepted grant from Facebook CEO’s group without public discussion. The Fulton County Board of Commissioners accepted a staggering $6.3 million ...

Joe Biden may not be installed in the White House, suggests DNI John Ratcliffe

By Ethan Huff (Natural News) Appearing on a recent segment of “Sunday Morning Futures” with Maria Bartiromo, Director of National Intelligence (DNI) John Ratcliffe made the ...

Trump Approves Filing Retooled Texas-Style Election Challenges: Giuliani

By Zachary Stieber President Donald Trump’s legal team is planning on filing retooled lawsuits, his lawyer said Saturday. “We move immediately, seamlessly, to plan B, which ...

Wisconsin Election Official: No Evidence of Fraud Related to Dominion Machines

By Zachary Stieber An election official in Wisconsin testified Friday that there’s no evidence of fraud related to Dominion Voting Systems machines. “In Wisconsin, there were no dumps of ballots ...

Irregularities, Fraud Caused Trump to Lose Wisconsin: Election Commissioner

By Zachary Stieber A member of the Wisconsin election board said Friday that irregularities, fraud, and “Democrat tricks” caused President Donald Trump to lose the ...

Attorney: Michigan Vote Flip Happened Due to Computer Program, Not Human Error

By Zachary Stieber An attorney in a Michigan election case on Friday said that an infamous vote flip happened because of a computer program, not ...