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Category: Economy

The US Economy

Trump officials recommend executive action as stimulus talks break down
Posted inEconomy

Trump officials recommend executive action as stimulus talks break down

USNN World Newsby USNN World NewsAugust 7, 2020August 7, 2020
US employers hire 1.8M despite new COVID-19 shutdowns
Posted inEconomy

US employers hire 1.8M despite new COVID-19 shutdowns

USNN World Newsby USNN World NewsAugust 7, 2020December 5, 2024
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

Posts pagination

Newer posts 1 … 87 88 89 90 91 … 106 Older posts

NATIONAL NEWS

  • Trump Inaugural Events Kick Off Today: What to KnowTrump Inaugural Events Kick Off Today: What to Know
    By Jacob Burg Four days of celebrations surrounding President-elect Donald Trump’s second inauguration start on Jan. 18. They begin with a reception and fireworks at ...
  • Laken Riley Act Advances to Final Vote in SenateLaken Riley Act Advances to Final Vote in Senate
    By Stacy Robinson WASHINGTON—The Senate on Jan. 17 advanced a bill that requires the Department of Homeland Security (DHS) to detain illegal immigrants arrested for ...
  • Ohio Lt. Gov. Jon Husted Appointed to Fill JD Vance’s Senate SeatOhio Lt. Gov. Jon Husted Appointed to Fill JD Vance’s Senate Seat
    By Jeff Louderback Ohio Republican Gov. Mike DeWine named Lt. Gov. Jon Husted to fill Vice-President-elect JD Vance’s U.S. Senate seat in a Jan. 17 ...
  • Trump Inauguration Moved Indoors Due to Freezing ConditionsTrump Inauguration Moved Indoors Due to Freezing Conditions
    By Jackson Richman The Jan. 20 inauguration of President-elect Donald Trump has been moved indoors due to extreme cold weather. “It is my obligation to protect ...
  • DeSantis Chooses Florida AG Ashley Moody to Replace Rubio in SenateDeSantis Chooses Florida AG Ashley Moody to Replace Rubio in Senate
    By T.J. Muscaro Florida Gov. Ron DeSantis on Jan. 16 announced that Ashley Moody, Florida’s attorney general, will replace Sen. Marco Rubio in the U.S. ...
  • California Abandons Regulations Phasing Out Diesel TrucksCalifornia Abandons Regulations Phasing Out Diesel Trucks
    By Travis Gillmore California’s Air Resources Board sent a letter on Jan. 14 to the U.S. Environmental Protection Agency, withdrawing its prior waiver request that would ...
  • California Rep. Judy Chu Urges FEMA to Change Handling of Disaster Assistance ClaimsCalifornia Rep. Judy Chu Urges FEMA to Change Handling of Disaster Assistance Claims
    By Katabella Roberts Rep. Judy Chu (D-Calif.) is urging FEMA to change their handling of disaster assistance claims amid the ongoing fires in Southern California, ...
  • House Passes Bill Banning Men From Women’s SportsHouse Passes Bill Banning Men From Women’s Sports
    By Stacy Robinson WASHINGTON—The House passed the Protection of Women and Girls in Sports Act on Jan. 14, with a vote of 218-206. The legislation ...
  • Speaker Johnson Orders Capitol US Flags to Full-Staff on Inauguration DaySpeaker Johnson Orders Capitol US Flags to Full-Staff on Inauguration Day
    By Matt McGregor House Speaker Mike Johnson (R-La.) said on Tuesday that flags at the U.S. Capitol will be returned to full-staff for Inauguration Day ...
  • Los Angeles Wildfire Victims Eligible for $770 One-Time Federal PaymentLos Angeles Wildfire Victims Eligible for $770 One-Time Federal Payment
    By Kimberly Hayek President Joe Biden said on Monday that those impacted by the Los Angeles fires will receive a one-time payment of $770 to ...
  • Trump Unveils New IRS-Style ‘External Revenue Service’ to Collect Tariffs and Duties From Foreign CountriesTrump Unveils New IRS-Style ‘External Revenue Service’ to Collect Tariffs and Duties From Foreign Countries
    By Tom Ozimek President-elect Donald Trump has unveiled plans to create the External Revenue Service (ERS), a new agency modeled after the IRS but aimed ...
  • 24 Dead as Firefighters Race to Contain Los Angeles Wildfires; High Winds Expected to Return24 Dead as Firefighters Race to Contain Los Angeles Wildfires; High Winds Expected to Return
    By Jacob Burg Firefighters are racing to contain wildfires in the greater Los Angeles area as forecasters warn of the return of strong winds this ...
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