USNN World News

Economy

Trump officials recommend executive action as stimulus talks break down

by USNN World NewsAugust 7, 2020August 7, 2020

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

NATIONAL NEWS

‘Is she serious?’: Dan Bongino says Lisa Page, other ‘deep-staters’ are in panic mode

By Joshua Nelson | Fox News Panic in the swamp. Former Secret Service agent Dan Bongino said on Monday that ex-FBI lawyer Lisa Page breaking her silence to push ...

Lisa Page breaks silence, saying Trump’s ‘fake orgasm’ forced her to speak out

By Gregg Re | Fox News “Honestly, his demeaning fake orgasm was really the straw that broke the camel’s back.” With those striking words in an interview published ...

House Republican Urges Nadler to Expand Academic Witness List in Impeachment Hearing

BY ALLEN ZHONG House Judiciary Committee Ranking Member Doug Collins (R-Ga.) urged House Judiciary Committee Chairman Jerrold Nadler (D-N.Y.) to include more academics as witnesses for the ...

Newsweek Fires Reporter After Inaccurate Article on Trump’s Thanksgiving Day Plans: Report

BY ALLEN ZHONG Jessica Kwong, a Newsweek reporter who wrote an inaccurate article about President Donald Trump’s Thanksgiving Day plans, has been fired by the media outlet, according ...

A dozen document troves that could change the Ukraine scandal if Trump released them

By John Solomon There are still wide swaths of documentation kept under wraps inside government agencies like the State Department that could substantially alter the ...

Twitter blocks Ilhan Omar’s GOP rival after ‘treason’ post

By Audrey Conklin FOXBusiness A Republican congressional candidate hoping to unseat Rep. Ilhan Omar, one of four progressive Democratic Congresswomen known as “the squad,” is defending ...

Carter Page accuses DOJ of ‘Orwellian overreach’ over effort to prevent him previewing FISA report

By Brooke Singman, Adam Shaw | Fox News EXCLUSIVE: Former Trump campaign aide Carter Page is accusing the Department of Justice of “Orwellian overreach” in its efforts to ...

Hunter Biden demands financial records are kept secret in child support suit: report

By Adam Shaw | Fox News Hunter Biden filed a protective order this week in an effort to seal his financial records from being released publicly — amid ...

Bloomberg News punts on candidate Bloomberg and Dems, but not Trump

By Howard Kurtz | Fox News Back when he was New York’s mayor, Mike Bloomberg routinely feuded with the press over his whereabouts. He doggedly refused to release ...

How Trump’s Thanksgiving Afghanistan trip was kept under wraps amid extreme security

By Adam Shaw, Kristin Fisher | Fox News President Trump surprised troops and news outlets on Thanksgiving morning when he appeared in Afghanistan to thank troops for their service ...

New York Times columnist’s Republican brother pens column blasting 2020 Dems, praising Trump

By Edmund DeMarche | Fox News And you thought there was tension at your Thanksgiving table. Once a year, Maureen Dowd, the Pulitzer Prize-winning columnist at The New York Times, ...

BET founder says 2020 election is Trump’s to lose

By Edmund DeMarche | Fox News Robert Johnson, the founder of Black Entertainment Television, said in an interview Friday that he does not believe that there’s a ...