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

Republican Defeats Democrat Mayoral Candidate Despite Top Endorsements

By Jack Phillips Endorsements from top Democrats including President Barack Obama and House Majority Whip Jim Clyburn (D-S.C.) were not enough to secure a victory ...

Florida Legislature Approves Bills Limiting COVID-19 Vaccine Mandates

By Isabel Van Brugen Florida Legislature on Wednesday passed sweeping legislation that seeks to protect unvaccinated workers from federal COVID-19 vaccine mandates. The four bills were approved largely ...

Wyoming Republican Party Votes to Stop Recognizing Cheney as Member

By Ivan Pentchoukov The Wyoming Republican Party voted on Saturday to stop recognizing Rep. Liz Cheney (R-Wyo.) as one of its members. The vote is the second rebuke of Cheney ...

OSHA Suspends Implementation, Enforcement of Vaccine Mandate

By Isabel Van Brugen The Labor Department’s Occupational Safety and Health Administration (OSHA) says it has suspended the implementation and enforcement of the Biden administration’s COVID-19 vaccine ...

FDA Asks Court for 55 Years to Fully Release Pfizer COVID-19 Vaccine Data

By Ivan Pentchoukov The Food and Drug Administration (FDA) asked a federal judge on Nov. 15 to give it until the year 2076 to fully ...

Arizona School Board Elects New President Over Alleged Dossier on Parents

By Allan Stein Scottsdale, Arizona’s governing school board has voted to replace Jann-Michael Greenburg as president over an online “dossier” that he and his father ...

New Rail Terminal Makes Savannah’s Port 3rd Largest in Country

By Jackson Elliot North America’s largest railport terminal has risen from out of a swamp in Savannah, Georgia. The Mason Mega Rail Terminal makes Savannah the third-largest ...

Judge Dismisses Weapons Charge in Kyle Rittenhouse Trial

By Jack Phillips Judge Bruce Schroeder on Nov. 15 dismissed a misdemeanor weapons charge against Kyle Rittenhouse before closing arguments were slated to begin in his homicide ...

Ohio AG Sues Facebook for Violations of Securities Law Amid Allegations of Harm to Children

By Mimi Nguyen Ly Ohio’s attorney general on Monday filed a lawsuit against Meta, formerly known as Facebook, accusing it of violating federal securities law by misleading ...

Florida lawmakers to pass more measures to block COVID vaccine mandates

By Asher Notheis, Breaking News Reporter Florida will begin a special legislative session on Monday titled “Keep Florida Free,” in which lawmakers will look to ...

Hundreds Protest Against Vaccine Mandates Near Golden Gate Bridge

By Cynthia Cai SAN FRANCISCO—Hundreds of people gathered at the Golden Gate Bridge on Nov. 11 to protest vaccine mandates. The Thursday afternoon protest was one of many ...

Worker Shortages Drive Companies to Boost Benefits Amid Holiday Hires

By Rachel Hartman Companies are struggling to hire seasonal workers as they head into the busy holiday season during one of the tightest labor markets in ...