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

Judge Delays Michael Flynn’s Sentencing Amid Pending DOJ Watchdog FISA Report

By Jack Phillips A federal judge postponed retired Lt. Gen. Michael Flynn’s sentencing until next month—after the release of the Department of Justice’s Inspector General’s ...

Court Filing: Obama Holdover Heading Office Under Investigation for ‘Illegally Leaked’ Classified Document

By Christopher C. Hull The Obama holdover heading the Pentagon office reportedly under investigation by the U.S. attorney who is conducting the criminal probe of ...

Apple employees support Tim Cook’s lobbying efforts with Trump, surprising survey shows

By Chris Ciaccia | Fox News A surprising new survey has revealed that Apple employees are strongly in favor of CEO Tim Cook’s efforts to lobby President Donald Trump on behalf of the ...

Ingraham takes down cartoon-like Dems for constantly predicting Trump’s ‘political demise’

By David Montanaro | Fox News Laura Ingraham said Tuesday in her opening monologue that Democrats and their media allies now remind her of cartoon characters, as they repeatedly predict President Trump’s “political demise.” “I ...

Officials still puzzled about ‘hovering’ object that prompted lockdown in DC

By Chad Pergram, Andrew O’Reilly | Fox News Security officials on Capitol Hill are still puzzled by what sparked the security threat to be issued Tuesday morning that ...

Dems’ doomsday scenario: Could anxious moderates scuttle impeachment push?

By Adam Shaw | Fox News With impeachment proceedings moving swiftly after a spree of dramatic hearings, the expectation that the House will vote to impeach President Trump and ...

Trump takes stage for “homecoming rally” in Florida

By Morgan Phillips | Fox News President Trump took the stage in Sunrise, Fla. Tuesday night to address supporters at what his reelection campaign rally had dubbed a “homecoming rally” before ...

Sen. Rand Paul Says Federal Officials Wasted $4.6 Million Studying Link Between Booze and ER Visits

By Mark Tapscott Sen. Rand Paul (R-Ky.) on Monday issued a special fall edition of his annual report on waste and fraud by the federal ...

Trump Donates Third-Quarter Salary to Help in ‘Fight Against the Opioid Crisis’

By Zachary Stieber President Donald Trump is donating his third-quarter salary to help combat the nationwide opioid epidemic. A White House official said on Nov. 26 ...

Trump Urges Pelosi to Bring USMCA to a Vote, Pelosi Says Compromise Within Reach

By Zachary Stieber President Donald Trump urged House Speaker Nancy Pelosi (D-Calif.) to bring the U.S.-Mexico-Canada trade agreement, known as the USMCA, to a vote ...

Nikki Haley: God Using Trump’s Presidency to Bring ‘Lessons’ and ‘Change’

By Isabel van Brugen Nikki Haley, the former U.S. ambassador to the United Nations, said in an interview last week she believes President Donald Trump’s presidency ...

Support for Impeachment Drops Among Black and Hispanic Voters: Poll

By Jack Phillips Support for impeaching President Donald Trump has dropped among black and Hispanic voters, according to a new poll. A new national poll released ...