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

Ethics Committee releases messages showing Tlaib asking campaign for personal money, as ethics probes announced

By Gregg Re | Fox News The House Ethics Committee on Thursday released a trove of striking internal campaign communications sent in 2018 by Michigan Democratic Rep. Rashida Tlaib, ...

Fox News beats all broadcast, cable networks in impeachment hearing viewership

By Brian Flood | Fox News Fox News’ coverage of the first day of impeachment hearings Wednesday outperformed all broadcast and cable news networks in total viewers, according to ...

Ken Starr, Former Clinton Prosecutor, Says Impeachment Efforts Lack a Star Witness

By Zachary Stieber Ken Starr, the independent counsel who headed the impeachment investigation of President Bill Clinton in the 1990s, said that House Democrats appear to lack ...

Democrat Rep. Van Drew Says Impeachment Testimony Is ‘Hearsay’

By Jack Phillips Rep. Jeff Van Drew (D-N.J.), who represents a congressional district that voted in favor of President Trump, said that diplomat Bill Taylor’s testimony ...

Adam Schiff Will Be Called as a Witness in Senate Impeachment Trial: Graham

By Zachary Stieber House Intelligence Chairman Adam Schiff (D-Calif.) will be called as a witness in a Senate impeachment trial, which will be held if ...

Kevin McCarthy Says House Democrat Told Him They Want to Switch Parties

By Jack Phillips House Minority Leader Kevin McCarthy has said some Democrats are starting to second-guess the impeachment inquiry against President Donald Trump, as well as the ...

Nancy Pelosi refers to reporter as ‘Mr. Republican talking points’ after whistleblower question

By Brian Flood | Fox News House Speaker Nancy Pelosi accused Sinclair Broadcast Group reporter James Rosen of spouting GOP talking points after he asked a question about the ...

Republicans Motion to Subpoena Whistleblower

By Zachary Stieber Rep. Mike Conaway (R-Texas) in a file photograph in Washington. (Alex Wong/Getty Images) GOP lawmakers on Nov. 13 motioned to subpoena the person ...

Cross Examination Exposes Gaps in Impeachment Narrative

By Ivan Pentchoukov Tough questions from lawmakers show hearsay, opinion, and presumptions underlie crucial claims by star witness Republican lawmakers used the first public ...

Name of DNC Operative Alexandra Chalupa Was Redacted in Impeachment Transcripts: Nunes

By Zachary Stieber House Democrats redacted the name of Alexandra Chalupa, the former Democratic National Committee (DNC) contractor who met with Ukrainian officials to try to ...

Trump vows new Ukraine transcript release in post-impeachment hearing press conference

By Gregg Re | Fox News President Trump tore into House Democrats’ ongoing impeachment inquiry Wednesday during a press conference with Turkey President Recep Tayyip Erdogan, decrying the hearsay-laden “witch hunt” and saying ...

Rep. Jordan chides diplomat on quid pro quo claims: ‘Your clear understanding was obviously wrong’

By Ronn Blitzer | Fox News Republican Rep. Jim Jordan led some of the toughest questioning during Wednesday’s impeachment hearing, challenging Ukraine ambassador William Taylor over his claims that he understood President ...