USNN World News

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

Economy

SBA disaster loan investigation reveals rampant fraud: Report

by USNN World NewsJuly 29, 2020July 29, 2020

Economy

Rep. Gohmert compares GOP and Democrat coronavirus stimulus proposals

by USNN World NewsJuly 28, 2020July 28, 2020

NATIONAL NEWS

US Inflation Rises 7.9 Percent in February, Hitting a New 40-year High

By Andrew Moran The U.S. annual inflation rate surged to 7.9 percent in February, matching the market estimate, new data show. Last month, the core inflation rate, which strips the ...

House Passes $1.5 Trillion Spending Bill With $13.6 Billion for Ukraine

By Isabel Van Brugen The U.S. House of Representatives voted on Wednesday to pass a $1.5 trillion omnibus spending bill that includes $13.6 billion in ...

Facebook Called Out For Vaccine Marketing Alliance

By Alice Giordano A health alliance formed by Facebook in June of 2021 has been funding research into “how best to use behavioral science, social media and digital platforms ...

10,000 Uncounted Ballots Found in Texas County: Officials

By Jack Phillips Officials in Texas said they discovered about 10,000 uncounted ballots in last week’s primary election, which led to a delay in the results. The Harris County Elections ...

Industry Calls on Biden to Lift Moratorium on New Oil, Gas Leases

By John Haughey Domestic producers in the United States welcomed President Joe Biden’s March 8 order banning Russian oil and gas imports but say his ...

GOP Expects Midterm Sweep as Gas Prices Spike

By Joseph Lord Democrats are blaming rising gasoline prices—which have reached unprecedented levels in various parts of the country—on monopolies and price gouging. Republicans have called ...

Documents reveal feds paid news outlets to praise COVID vaccines

By Bob Unruh Only recently has it been revealed that one of the “vaccines” for COVID-19, pushed by the federal government and pharmaceutical industry on ...

Bill Gates’ Relationship With Jeffrey Epstein Played Part in Divorce: Melinda Gates

By Katabella Roberts Melinda Gates has said that billionaire Bill Gates’ relationship with “evil personified” Jeffrey Epstein played a part in her divorce from the Microsoft co-founder. Epstein was ...

GOP Says It’ll Investigate Fauci If It Retakes House in 2022

By Jack Phillips Several Republican lawmakers indicated that if the GOP regains a majority in the House of Representatives in the 2022 midterm elections, they ...

US Surgeon General Requests COVID-19 ‘Misinformation’ Data From Big Tech Companies

By Jack Phillips U.S. Surgeon General Dr. Vivek Murthy issued a request Thursday for information surrounding alleged COVID-19 misinformation from Big Tech companies, community organizations, and healthcare providers. “Misinformation has ...

Here it is! ‘Widespread election fraud’ revealed in report

By Bob Unruh President Donald Trump has said that the 2020 presidential election was stolen. In fact, Joe Biden won by narrowly capturing victory in a ...

The Truth Is Coming Out About COVID Deaths

By Joseph Mercola Hospitals receive payments for testing every patient for COVID, every COVID diagnosis and every ‘COVID death,’ as well as any time they ...