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

CNN Faces Heat for Hiring Fired FBI Official Andrew McCabe as Contributor

BY JANITA KAN CNN announced on Aug. 23 that fired FBI Deputy Director Andrew McCabe has joined the network as a contributor, a decision that quickly drew backlash ...

Ex-Overstock CEO Patrick Byrne says he got ‘fishy’ orders from Peter Strzok; former acting AG unsure of claims

By Charles Creitz | Fox News Overstock founder and CEO Patrick Byrne, who resigned Thursday amid ties to a government probe related to the 2016 election, claimed he received “fishy” ...

More GSA debauchery: Probe finds ex-official had sex on agency’s roof with White House staffer

By Judson Berger | Fox News The same agency that sparked a firestorm during the Obama administration for lavish spending at a Vegas conference – complete with a widely ...

Moulton ends long-shot White House bid, in latest 2020 Dem drop-out

By Paul Steinhauser | Fox News Rep. Seth Moulton of Massachusetts repeatedly has said he’s not a quitter. But on Friday, the three-term congressman and U.S. Marine veteran who ...

Apple iPhone 7 radiation test prompts FCC investigation: report

By Christopher Carbone | Fox News Apple’s popular iPhone 7 produced radio frequency radiation above the legal limit in a new test, prompting the Federal Communications Commission (FCC) ...

David Koch, billionaire philanthropist and prolific GOP donor, dead at 79

By Paulina Dedaj | Fox News David Koch, the billionaire former executive Vice President of Koch Industries who, along with his brother, was one of the most ...

Federal court undercuts progressive efforts to nullify Electoral College, rules electors can vote freely

By Gregg Re | Fox News In a major blow to state-by-state progressive efforts to effectively replace the Electoral College with a nationwide popular vote, a federal appeals court ...

Jeffrey Epstein had painting of girl lying with tiger at New Mexico home, in latest odd art reveal

By Hollie McKay | Fox News Odd and often creepy details continue to surface in the aftermath of accused sex trafficker Jeffrey Epstein’s suicide, giving a glimpse of the twisted ...

Nikki Haley denies ‘false rumors’ she will replace Pence on GOP ticket in 2020

By Alex Pappas | Fox News Nikki Haley, the former U.S. ambassador to United Nations, on Wednesday denied what she called “false rumors” that she could replace Mike Pence as ...

John Delaney suggests some Dems are ‘cheering on a recession’ to hurt Trump

By Joseph A. Wulfsohn | Fox News Above John Delaney: Some of President Trump’s media critics appear to be rooting for recession. After striking out on Russia ...

Gov. Gavin Newsom is ‘responsible’ for California’s homeless crisis, says former state congressman

By Joshua Nelson | Fox News The vice president of the Texas Public Policy Foundation, Chuck DeVore, said Wednesday that Gavin Newsom is “responsible for the policies that have created California’s homeless ...

Defiant Trump digs in amid battles on trade, guns, Israel: ‘I am the chosen one’

By Alex Pappas | Fox News A defiant President Trump sparred with reporters Wednesday in a testy back-and-forth for more than a half-hour as he dug in over his ...