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

Impeachment witness urges Burisma probe, testifies to concern of Hunter Biden ‘conflict’

By Brooke Singman | Fox News State Department official George Kent testified Wednesday that he would “love” to see Ukraine look into the circumstances surrounding the closure ...

Schiff Convicts Trump as Nunes Poses Three Key Impeachment Questions He Predicts Dems Will Ignore

By Mark Tapscott WASHINGTON—Nothing more clearly illustrated the yawning gulf between Democrats and Republicans related to the potential impeachment of President Donald Trump than the ...

Schumer Blocks Measure That Would Lower Prescription Drug Prices

BY ZACHARY STIEBER Senate Minority Leader Chuck Schumer (D-N.Y.) blocked a bill that would lower prescription drug costs, arguing that a measure that addresses other healthcare ...

DOJ’s Durham Interviewed Downer, Australia’s Russia Probe Figure, Reports Claim

BY PETR SVAB The team of United States Attorney John Durham interviewed former Australian ambassador Alexander Downer, according to two Australian newspapers. Both the papers are subsidiaries ...

Trump impeachment inquiry hearings begin: live blog

By Adam Shaw | Fox News Public hearings began Wednesday in the House impeachment inquiry, focusing on the circumstances surrounding President Trump’s July 25 phone call with ...

Adam Schiff to Jim Jordan: ‘I don’t know the identity of the whistleblower’

By Nick Givas | Fox News After House Democrats kicked off their impeachment hearings against President Trump on Wednesday, House Intelligence Committee Chairman Rep. Adam Schiff, D-Calif., claimed he has no knowledge of the Ukraine whistleblower’s identity, despite reports ...

DNC Opposition Researcher Working With Ukrainians Visited Obama White House Often

By Mark Tapscott WASHINGTON—Alexandra Chalupa, a contracted opposition researcher working in 2015 and 2016 for the Democratic National Committee (DNC) with extensive Ukrainian sources, met with ...

Schiff sets stage for impeachment hearings, warns GOP about going after Bidens

By Brooke Singman, Mike Emanuel | Fox News House Intelligence Committee Chairman Adam Schiff set the stage for the first public hearings as part of the impeachment inquiry by ...

ICIG complaint alleges Trump-Ukraine whistleblower may be soliciting illicit donations

By Gregg Re | Fox News EXCLUSIVE: A newly filed complaint to the Intelligence Community Inspector General (ICIG) alleges that the whistleblower whose allegations touched off House Democrats’ impeachment ...

Trump Calls Inquiry ‘No Due Process Scam’ as Public Impeachment Hearings Loom

By Zachary Stieber Republican President Donald Trump slammed the impeachment inquiry against him—spearheaded by House Democrats with little GOP support—as a “no due process scam” ...

Devin Nunes: Released Transcripts Are ‘Devastating to the Democrats’

By Jack Phillips Rep. Devin Nunes (R-Calif.), the ranking Republican on the House Intelligence Committee, said that Democrat-released transcripts of impeachment inquiry depositions actually don’t ...

‘Four Key Pieces of Evidence:’ Republicans Outline Strategy Against Impeachment in New Memo

By Zachary Stieber Republican House members circulated a memo on Nov. 12 outlining “four key pieces of evidence” from the impeachment inquiry against Republican President ...