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

CISA’s Ware resigns; is Director Krebs next out the door?

By Jason Miller The Cybersecurity and Infrastructure Security Agency (CISA) in the Department of Homeland Security appears to be in the midst of a house ...

Election Fraud Investigation: “It’s Gonna be Biblical”

By Hal Turner What’s about to take place here in the United States is so staggering, so monumental, the only proper way to describe it ...

Largest Hand Re-tally of Ballots in US History Gets Underway in Georgia

By Tom Ozimek Election officials in Georgia’s 159 counties are undertaking a hand recount of the presidential race stemming from a “risk-limiting audit” that is required by ...

‘Never Bet Against Me’: Trump Confident He’ll Get to 270 Electoral College Votes

By Jack Phillips President Donald Trump, in a new interview, said he is confident that he will get to 270 Electoral College votes when all legal ...

FEC Chairman Says He Believes ‘There Is Voter Fraud’ in Key States

By Jack Phillips The chairman of the Federal Elections Commission (FEC) stated that he believes there is evidence of voter fraud and other alleged irregularities. In ...

FORENSIC EVIDENCE: How Voting Software STOLE the Presidency for Biden

By The Hal Turner Radio Show The Presidential Election held in the United States on November 3 was literally STOLEN by computer software deigned to ...

Dominion Contractor Says She Witnessed Fraudulent Actions in Detroit During Ballot Counting

By Zachary Stieber A contractor for Dominion Voting Systems said in a new sworn statement that she saw “fraudulent actions take place” at Detroit’s ballot counting ...

Pennsylvania Court Rules Secretary of State Improperly Changed Deadline 2 Days Before Election Day

By Jack Phillips A Pennsylvania judge ruled in favor of President Donald Trump’s campaign on Thursday, saying Pennsylvania Secretary of State Kathy Boockvar overstepped her authority to ...

Connecticut House Lawmaker Discovered Winner After Race Called for Opponent

By Jack Phillips Connecticut Republican House Rep. Craig Fishbein was called the loser in a race for his seat until an error was found and ...

Trump Pays Tribute to Veterans in the Rain at Arlington National Cemetery

By Li Hai President Donald Trump and First Lady Melania Trump observed Veterans Day at a ceremony in Arlington National Cemetery in the rain on Nov. 11. Vice President Mike ...

Giuliani: 650,000 Votes Were Counted Unlawfully in Philadelphia and Pittsburgh

By Isabel Van Brugen Rudy Giuliani, one of President Donald Trump’s personal lawyers, alleged on Nov. 11 that roughly 650,000 unlawful ballots were cast in ...

Arizona Judge Rules to Protect Identifying Information in Lawsuit Over Rejected Votes

By Mimi Nguyen Ly An Arizona Superior Court Judge has ruled to keep evidence provided by the Trump campaign unsealed in a lawsuit over rejected votes in Maricopa County, while agreeing to ...