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

Australia Imposes New Restrictions on Prescribing Ivermectin for COVID-19

By Mimi Nguyen Ly Australia’s medicine and therapeutics regulator, the Therapeutic Goods Administration (TGA), has introduced new restrictions on the prescribing of ivermectin for COVID-19 and ...

Members of Congress, Federal Judges, Staffers Exempt From Vaccine Mandate

By Joseph Lord On Thursday evening, President Joe Biden unveiled two executive orders that could mandate vaccinations for the CCP (Chinese Communist Party) virus for ...

Biden’s New Vaccine Mandate ‘Fascist’: Rep. Donalds

By Masooma Haq In response to President Joe Biden announcing his vaccine mandate for federal workers, Republican members of Congress have criticized the new rule ...

Florida’s Ban on School Mask Mandates Reinstated

By Zachary Stieber Gov. Ron DeSantis’s ban on school mask mandates is back in effect after an appeals court ruled in favor of the governor on Friday. The ...

Texas Governor Signs Law Allowing Users to Sue Social Media Companies Over Suspensions

By Jack Phillips Texas Gov. Greg Abbott signed a bill passed by the GOP-led legislature that is designed to stop social media companies from censoring ...

Tucson Pauses COVID-19 Vaccine Mandate After Arizona Attorney General Deems It Illegal

By Zachary Stieber The city of Tucson, Arizona, has paused a mandate that ordered employees to get a COVID-19 vaccine or face five days of suspension ...

Undeliverable Ballots in Georgia Were Double Biden’s Official Margin of Victory, Report Says

By Matthew Vadum Although President Joe Biden may have been declared the official winner of Georgia’s electoral votes in the 2020 election by close to ...

Third Vermont State Trooper Resigns Amid Probe Into Fake COVID-19 Vaccination Cards

By Ivan Pentchoukov Three Vermont State Police troopers have resigned as a result of an investigation into fraudulent vaccination cards, the state’s Department of Public ...

House Ethics Committee Reviewing Rep. Malinowski’s Stock Trades

By Isabel Van Brugen The House Ethics Committee on Tuesday said that it is reviewing whether Rep. Tom Malinowski (D-N.J.), the vice-chair of the U.S. ...

Michigan Health System Employees Sue Over Vaccine Mandate

By Ivan Pentchoukov A group of 51 employees of a Detroit health care organization filed a lawsuit on Monday challenging their employer’s COVID-19 vaccine mandate. The lawsuit ...

South Dakota Governor Restricts Access to Abortion Drugs in Executive Order

By Mimi Nguyen Ly South Dakota Gov. Kristi Noem issued an executive order on Tuesday to restrict telemedicine abortion and chemical abortions in the state. The executive order ...

Federal Prosecutors Ordered to Identify Ghislaine Maxwell’s Co-Conspirators

By Zachary Stieber Federal prosecutors were ordered Friday to name the alleged co-conspirators of Jeffrey Epstein’s former girlfriend ahead of her trial on sex trafficking charges. Prosecutors must ...