• About Us
    • Advertise With Us
    • Contact Us
    • News Archives – View All Posts
    • Privacy Policy
    • Terms of Use
    • Real News, Real Time, Real Struggle: How I Built a Global News Platform Against All Odds
  • White House
    • The Articles of Confederation
    • The Bill of Rights
    • The Declaration of Independence
    • United States Constitution
    • Office of the Historian
    • POTUS
  • Executive
    • The Cabinet
    • Department of Agriculture
    • Department of Commerce
    • Department of Defense
    • Department of Education
    • Department of Energy
    • Department of Health and Human Services
    • Department of Homeland Security
    • Department of Housing and Urban Development
    • Department of the Interior
      • National Park Service
        • Mount Rushmore National Memorial
        • Yellowstone National Park
          • The Mammals of Yellowstone
    • Department of Justice
    • Department of Labor
    • Department of State
    • Department of the Treasury
    • Department of Transportation
    • Department of Veterans Affairs
  • Judicial
    • Federal Courts & the Public
    • Supreme Court
    • SCOTUS
    • US Court Website Links
  • Legislative
    • United States House of Representatives
    • United States Senate
    • Congress
  • Dear Mary
  • Login
  • Support Our Publication
  • Twitter
  • FaceBook
Skip to content
  • Twitter
  • FaceBook
USNN World News

USNN World News

Real News, Real Time

  • About Us
    • Advertise With Us
    • Contact Us
    • News Archives – View All Posts
    • Privacy Policy
    • Terms of Use
    • Real News, Real Time, Real Struggle: How I Built a Global News Platform Against All Odds
  • White House
    • The Articles of Confederation
    • The Bill of Rights
    • The Declaration of Independence
    • United States Constitution
    • Office of the Historian
    • POTUS
  • Executive
    • The Cabinet
    • Department of Agriculture
    • Department of Commerce
    • Department of Defense
    • Department of Education
    • Department of Energy
    • Department of Health and Human Services
    • Department of Homeland Security
    • Department of Housing and Urban Development
    • Department of the Interior
      • National Park Service
        • Mount Rushmore National Memorial
        • Yellowstone National Park
          • The Mammals of Yellowstone
    • Department of Justice
    • Department of Labor
    • Department of State
    • Department of the Treasury
    • Department of Transportation
    • Department of Veterans Affairs
  • Judicial
    • Federal Courts & the Public
    • Supreme Court
    • SCOTUS
    • US Court Website Links
  • Legislative
    • United States House of Representatives
    • United States Senate
    • Congress
  • Dear Mary
  • Login
  • Support Our Publication
  • Highlights
  • Economy
  • Healthcare
  • Immigration
  • National Security & Defense
  • Department of Justice
  • Supreme Court
  • Congress
  • Opinion
  • National News
  • World

Category: Economy

The US Economy

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.”
Posted inEconomy

In SALT cap stimulus square-off, lawmakers squabble over $10,000 deduction limit

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
McConnell open to extending $600 unemployment boost in coronavirus stimulus deal
Posted inEconomy

McConnell open to extending $600 unemployment boost in coronavirus stimulus deal

USNN World Newsby USNN World NewsAugust 5, 2020August 19, 2024
McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion
Posted inEconomy

McConnell mocks Malibu for seeking stimulus funding to help with electric car conversion

USNN World Newsby USNN World NewsAugust 5, 2020August 5, 2020
Stocks rally as slow coronavirus-relief talks move in 'right direction'
Posted inEconomy

Stocks rally as slow coronavirus-relief talks move in ‘right direction’

USNN World Newsby USNN World NewsAugust 4, 2020December 5, 2024
White House considering unilateral actions with coronavirus aid bill stuck in Congress
Posted inEconomy

White House considering unilateral actions with coronavirus aid bill stuck in Congress

USNN World Newsby USNN World NewsAugust 3, 2020August 3, 2020
Democrats, White House still at odds over extra coronavirus unemployment benefits
Posted inEconomy

Democrats, White House still at odds over extra coronavirus unemployment benefits

USNN World Newsby USNN World NewsAugust 2, 2020August 2, 2020
Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill
Posted inEconomy

Bipartisan leaders of Problem Solvers Caucus predict deal on horizon for coronavirus stimulus bill

USNN World Newsby USNN World NewsAugust 1, 2020August 1, 2020
Trump says second stimulus check could be 'way higher' than $1,200
Posted inEconomy

Trump says second stimulus check could be ‘way higher’ than $1,200

USNN World Newsby USNN World NewsJuly 30, 2020July 30, 2020
Lawmakers face a tight deadline
Posted inEconomy

Trump calls GOP coronavirus proposal ‘semi-irrelevant’ as deal appears far off

USNN World Newsby USNN World NewsJuly 29, 2020July 29, 2020
SBA disaster loan investigation reveals rampant fraud: Report
Posted inEconomy

SBA disaster loan investigation reveals rampant fraud: Report

USNN World Newsby USNN World NewsJuly 29, 2020July 29, 2020
Rep. Gohmert compares GOP and Democrat coronavirus stimulus proposals
Posted inEconomy

Rep. Gohmert compares GOP and Democrat coronavirus stimulus proposals

USNN World Newsby USNN World NewsJuly 28, 2020July 28, 2020
Second coronavirus stimulus check update: Here's when Americans could receive the cash
Posted inEconomy

Second coronavirus stimulus check update: Here’s when Americans could receive the cash

USNN World Newsby USNN World NewsJuly 28, 2020July 28, 2020

Posts pagination

Newer posts 1 … 94 95 96 97 98 … 113 Older posts

NATIONAL NEWS

  • Warren’s kid-block background spells out almost-hidden message in convention speechWarren's kid-block background spells out almost-hidden message in convention speech
    By Caitlin McFall | Fox News Prominent message sits over Warren’s shoulder as she voices support for Biden-Warren ticket. Sen. Elizabeth Warren, D-Mass., appeared in a virtual speech ...
  • Biden campaign distances itself from former Women’s March leader Sarsour after DNC appearanceBiden campaign distances itself from former Women's March leader Sarsour after DNC appearance
    By Ronn Blitzer | Fox News A spokesman says Sarsour ‘has no role’ in the campaign. Democratic presidential nominee Joe Biden’s campaign said it has nothing to do with former Women’s ...
  • Gretchen Whitmer mouths expletive on ‘hot mic,’ compares DNC to ‘Shark Week’ before convention speechGretchen Whitmer mouths expletive on 'hot mic,' compares DNC to 'Shark Week' before convention speech
    By Danielle Wallace | Fox News “It’s not just Shark Week … it’s Shark Week mother f—er,” Whitmer said. Michigan Gov. Gretchen Whitmer was caught on a “hot mic” Monday mouthing ...
  • Ocasio-Cortez Nominates Sanders, Doesn’t Mention Biden in DNC SpeechOcasio-Cortez Nominates Sanders, Doesn’t Mention Biden in DNC Speech
    By Nicholas Ballasy Rep. Alexandria Ocasio-Cortez on Tuesday night  at the Democratic National Convention nominated Sen. Bernie Sanders for president and applauded his supporters for working toward “guaranteed health ...
  • Trump Campaign Sues New Jersey Over Mail-in BallotsTrump Campaign Sues New Jersey Over Mail-in Ballots
    By Tom Ozimek The campaign to reelect President Donald Trump has sued New Jersey authorities after Gov. Phil Murphy issued an executive order facilitating widescale mail-in balloting for November’s ...
  • Virginia State Senator Turns Herself in to Face Charges Over Statue Toppling IncidentVirginia State Senator Turns Herself in to Face Charges Over Statue Toppling Incident
    By Jack Phillips Virginia state Sen. Louise Lucas turned herself in on Tuesday to the sheriff’s office after she was charged in connection to the dismantling ...
  • Jill Biden’s ex-husband accuses her of affair with Joe Biden in 1970sJill Biden's ex-husband accuses her of affair with Joe Biden in 1970s
    By Ebony Bowden, Aaron Feis | New York Post Jill Biden’s ex-husband has accused the potential first lady of having an affair with Joe Biden and says they lied about how they ...
  • Manhunt underway for attacker in Portland truck assault: policeManhunt underway for attacker in Portland truck assault: police
    By Stephanie Pagones | Fox News Portland police on Tuesday identified a suspect in Sunday night’s attack on a truck driver who was seen on video being pulled from the ...
  • Trump: Susan B. Anthony to get posthumous pardonTrump: Susan B. Anthony to get posthumous pardon
    By Julia Musto | Fox News Anthony was arrested in 1872 for voting illegally and sentenced to pay a fine of $100 and court costs. President Trump announced Tuesday ...
  • Ted Cruz reacts to DNC opening night, says Dems ‘care more about the woke mob than … working men and women’Ted Cruz reacts to DNC opening night, says Dems 'care more about the woke mob than ... working men and women'
    By Angelica Stabile | Fox News Senator blasts Dems for ‘not saying a meaningful word about the riots’ in cities across US. The Democratic National Convention is making clear that ...
  • Michelle Obama’s DNC address fact-checked by AP over ‘distorted’ immigration talking pointMichelle Obama's DNC address fact-checked by AP over 'distorted' immigration talking point
    By Brian Flood | Fox News Children in ‘cages’ claim is misleading, AP says. The Associated Press fact-checked Michelle Obama’s Democratic National Convention speech after she condemned Trump for using ...
  • Trump hits back at Michelle Obama after searing DNC speech, says he ‘would not be here’ if not for her husbandTrump hits back at Michelle Obama after searing DNC speech, says he 'would not be here' if not for her husband
    By Brooke Singman | Fox News Trump’s tweets come after former first lady slammed the president during first night of the 2020 DNC. President Trump on Tuesday hit ...
  • <<
  • 1
  • ...
  • 427
  • 428
  • 429
  • 430
  • 431
  • 432
  • 433
  • 434
  • 435
  • 436
  • 437
  • ...
  • 549
  • >>
USNN World News
  • Twitter
  • FaceBook
  • About Us
  • Advertise With Us
  • Contact Us
  • Dear Mary
  • Invest in the Future of Digital Journalism
  • News Archives – View All Posts
  • Privacy Policy
  • Terms of Use
  • Support Our Publication
  • Arizona
  • California
  • Florida
  • Georgia
  • Michigan
  • Nevada
  • New Hampshire
  • New York
  • Oregon
  • Pennsylvania
  • Texas
  • Washington DC
  • Wisconsin
  • White House
  • Office of the Historian
  • The Articles of Confederation
  • The Bill of Rights
  • The Declaration of Independence
  • United States Constitution
  • United States House of Representatives
  • United States Senate
  • US National Debt Clock
  • Congress
  • Department of Government Efficiency (DOGE)
  • Department of Justice
  • Economy
  • Entertainment
  • Executive Branch
  • Immigration
  • Judicial Branch
  • Judicial Watch
  • Legislative Branch
  • Life, Nature and Tradition
  • National News
  • National Security & Defense
  • News Archives
  • Opinion
  • Sports
  • The Wall
  • United States
  • Weather
  • World
© 2026 USNN World News Corporation Powered by USNN World News Privacy Policy