USNN World News

Economy

US employers hire 1.8M despite new COVID-19 shutdowns

by USNN World NewsAugust 7, 2020December 5, 2024

Economy

GOP senators pitch extending extra unemployment aid through end of year

by USNN World NewsAugust 6, 2020August 6, 2020

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

NATIONAL NEWS

Maine Gets Final Warning on Males in Female Sports

By Naveen Athrappully The U.S. Department of Education issued a final warning to the state of Maine, telling it to agree to protect female sports ...

Judge Issues Order to Keep Intelligence Employees on Administrative Leave

By Sam Dorman ALEXANDRIA, Va.—A federal judge ordered the Trump administration on March 31 to keep a group of intelligence community employees on administrative leave. The ...

Pipeline Projects Prioritized for Quick Approval Under Emergency Energy Orders

By John Haughey More than 220 natural gas pipeline-related proposals across 22 states are among nearly 700 projects that could see accelerated approvals under President ...

Trump Inks $100 Million Deal With Skadden Law Firm

By Samantha Flom A prominent Wall Street law firm has struck a deal with the White House to provide $100 million in pro bono legal ...

Appeals Court Allows DOGE to Continue to Downsize USAID

By Matthew Vadum A federal appeals court on March 28 put on hold a lower court order that blocked efforts led by the Department of ...

AG Bondi Says ‘Many Judges’ Should Be Removed

By Jack Phillips U.S. Attorney General Pam Bondi said Thursday that some of the judges who ruled against the Trump administration’s executive orders in recent ...

Department of Justice Issues Rule to Restore Lost Gun Rights

By Michael Clements The U.S. Department of Justice (DOJ) has issued an interim final rule to assume responsibility from the Bureau of Alcohol, Tobacco, Firearms, ...

Top East Coast MS-13 Leader Arrested in Virginia, Officials Say

By Chase Smith A senior leader of the violent transnational gang MS-13 was arrested on March 27 during a coordinated law enforcement operation in Dale ...

US Travel Season Starts With Stronger-Than-Expected Spring Break

By Wesley Brown American motorists and vacationers are hitting the roads and airports in higher-than-expected numbers during the ongoing spring break period. In a statement provided ...

Appeals Court Halts Judge’s Order Requiring Musk to Hand Over DOGE Records

By Tom Ozimek A federal appeals court has temporarily blocked a discovery order from U.S. District Judge Tanya Chutkan that would have required Elon Musk ...

Trump Announces 25 Percent Tariffs on Foreign Cars

By Andrew Moran President Donald Trump on March 26 announced 25 percent tariffs on foreign cars in a move aimed at boosting domestic auto manufacturing. Speaking ...

Nevada Investigates Hundreds of Potential ‘Double Vote’ Cases in 2024 Election

By Jack Phillips Nevada’s Secretary of State’s office is investigating more than 300 cases of possible double votes during the 2024 election, according to a ...