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

Trump Says He‘ll Sue Over California Redistricting and US Senate ’Blue Slips’

By Sam Dorman President Donald Trump indicated on Aug. 25 that his administration would file lawsuits over California’s redistricting attempt and individual senators’ ability to ...

FBI Announces 1,000 Arrests Since Federal Government Took Over DC Police

By Jack Phillips The FBI announced that more than 1,000 arrests have been made across Washington since the federal government took over law enforcement for ...

Rangers Clear Thousands of Marijuana Plants, Banned Pesticides From Sequoia National Park

By Aldgra Fredly Law enforcement rangers last week removed over 2,000 marijuana plants and banned pesticides from a site in Sequoia National Park in California, ...

Trump to Host South Korea’s President Lee at White House for Trade, Defense Talks

By Emel Akan WASHINGTON—President Donald Trump will welcome South Korea’s newly elected president, Lee Jae Myung, to the White House on Monday to discuss trade, ...

Facing Impending Crisis, California Lawmakers Pivot on Fossil Fuels

By Beige Luciano-Adams LOS ANGELES—California legislators on Aug. 20 considered a plan that would dramatically loosen restrictions on drilling and refining oil in the state, ...

Trump Names 4 Judges to Fill Vacancies in North Carolina Courts

By Tom Ozimek President Donald Trump announced four nominees to fill long-standing federal trial court vacancies in North Carolina, tapping prosecutors, a magistrate judge, and ...

Kilmar Abrego Garcia Released From Tennessee Jail

By Sam Dorman Kilmar Abrego Garcia, a suspected gang member at the center of a high-profile deportation case, has been released from a jail in ...

House Committee Launches Probe Into California’s High-Speed Rail

By Jill McLaughlin California’s beleaguered high-speed rail project is under investigation by the U.S. House Committee on Oversight and Government Reform. The probe, launched Aug. 19, ...

DC Business Owners Weigh In on Trump’s Crime Crackdown

By Stacy Robinson and Nathan Worcester WASHINGTON — Across the nation’s capital, business owners and employees offered mixed opinions of President Donald Trump’s push to ...

Money Wired to Mexico Hits a Decade Low as US Immigration Policies Take Hold

By Darlene McCormick Sanchez The Trump administration’s crackdown on illegal immigration is playing a role in the sharpest decline in monthly remittances to Mexico in more ...

More Than 460 Arrests Made Since Federal Takeover of DC Policing

By Savanah Hulsey Pointer Police and federal officers in the District of Columbia have made 465 arrests since the federal government took over policing the ...

Three More GOP Governors Approve Sending National Guard Troops to DC

By Tom Ozimek and Sam dorman Governors from Mississippi, Tennessee, and Louisiana are sending National Guard troops to Washington to assist President Donald Trump’s effort ...