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

Pence Working to Release Records of His Ukraine Calls, Says They Would Exonerate Trump

By Ivan Pentchoukov Vice President Mike Pence is working with the White House to release records of his two calls with Ukrainian president Volodymyr ...

Trump celebrates young African immigrant’s prayer at White House: ‘So amazing!’

By Caleb Parke | Fox News After President Trump finished his speech to the Young Black Leadership Summit at the White House, a young woman in attendance yelled something that stopped the president ...

Trump campaign takes tight control of convention delegate process in bid to avoid 2016-style drama

By Paul Steinhauser | Fox News President Trump’s re-election campaign and the Republican National Committee are tightening their grasp on the delegate selection process for next year’s GOP convention in a ...

Trey Gowdy to join Trump’s legal team on impeachment inquiry: report

By Brie Stimson | Fox News Former U.S. Rep. Trey Gowdy, R-S.C., is joining President Trump’s legal team as outside counsel for the House’s expanding impeachment inquiry, according to ...

Jason Chaffetz: Durham’s expanded probe is ‘bad news’ for Obama-era intel officials

By Julia Musto | Fox News U.S. Attorney John Durham’s decision to expand the scope and timeline of his investigation into the origin of the Russia probe is “bad news” for Obama-era ...

Trump wants whistleblower ‘exposed and questioned’ after reports of ties to 2020 Dem

By Adam Shaw | Fox News President Trump pressed Wednesday for the Ukraine call whistleblower to be “exposed and questioned” after new reports surfaced suggesting the whistleblower has ties to a 2020 ...

John Kerry’s comments on foreign leaders during 2004 election season resurface amid Trump-Ukraine controversy

By Liam Quinn | Fox News After former President Bill Clinton’s request for help from a foreign official resurfaced Monday, now it’s John Kerry’s turn in the spotlight. On Tuesday’s ...

White House announces it will not comply with ‘illegitimate and unconstitutional’ impeachment inquiry

By Gregg Re, John Roberts | Fox News The White House outlined in a defiant eight-page letter to House Speaker Nancy Pelosi and top Democrats on Tuesday why it will not participate in their ...

Democrats trying to ‘overturn the will of the American people,’ Pence chief of staff says

By Charles Creitz | Fox News Democrats’ impeachment inquiry is part of an attempt to undermine the will of the voters, according to a top aide to Vice President Mike ...

Jim Jordan blasts ‘unfair’ House impeachment process, defends EU envoy’s no-show

By Charles Creitz | Fox News Jim Jordan defended U.S. Ambassador to the European Union Gordon Sondland’s failure to appear before House lawmakers amid their Trump impeachment inquiry. Rep. Jordan, R-Ohio, ...

McConnell ad telegraphs plan to protect Trump against Pelosi in impeachment fight

By Ronn Blitzer | Fox News While Senate Majority Leader Mitch McConnell has pledged to take up the impeachment fight in the Senate should the House move against President Trump, a new campaign ad from ...

Trump on Troop Withdrawal From Syria: ‘Time to Get out of These Ridiculous Endless Wars’

BY ZACHARY STIEBER President Donald Trump explained the rationale behind his decision to pull all U.S. troops from Syria, saying he wants the United States to ...