USNN World News

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

Economy

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

by USNN World NewsJuly 28, 2020July 28, 2020

NATIONAL NEWS

Trump Flipped These Western Wisconsin Counties. What About This Time

By Nathan Worcester “I am a true neutral.” Matthew Johnson, a short, energetic Texan, was talking politics as he showed off his spread on the south ...

FBI Report on Violent Crime Statistics Involving U.S. and Non-U.S. Citizens (2016-2024): Yearly Totals and Comparative Analysis

By Stephen Zogopoulos, USNN World News The FBI has released an extensive report detailing violent crime statistics involving both U.S. citizens and non-U.S. citizens from ...

Harris Defends Shifting Positions in Primetime Interview

By Ivan Pentchoukov, Jacob Burg and Emel Akan Vice President Kamala Harris, in her first interview as the Democratic presidential nominee on Aug. 29, clarified her shifting positions on ...

What’s Next for Trump in His Ongoing Criminal Cases?

By Sam Dorman Former President Donald Trump continues to face potential legal battles in four criminal cases, raising the prospect that a possible future presidency ...

DOJ Watchdog Report Criticizes FBI for Lapses in Handling Child Sex Abuse Tips

By Chase Smith A U.S. Department of Justice (DOJ) watchdog issued a critical report this week, examining the FBI’s handling of tips related to “hands-on” ...

Special Counsel Smith Files Revised Indictment in Trump Federal Election Case

By Sam Dorman Special counsel Jack Smith filed an updated indictment against former President Donald Trump in Washington on Aug. 27 following the Supreme Court’s ...

Texas Conducts Raids on Several Democrats’ Homes in Election Fraud Investigation

By Darlene McCormick Sanchez A Latino civil rights group is calling for a federal investigation into the Texas attorney general’s office for raiding the homes ...

Vance Taps Into Voter Frustration Over Proposed Chinese Battery Plant

By Lawrence Wilson BIG RAPIDS, Mich.—Vice presidential candidate Sen. JD Vance (R-Ohio), in a western Michigan rally on Aug. 27, criticized a controversial proposal to ...

Crews Work to Restore Power to More Than 300,000 Michigan Homes, Businesses After Storms

By The Associated Press ROYAL OAK, Mich.—Crews for two of Michigan’s largest utilities were working to restore power Wednesday to more than 300,000 homes and ...

RNC Sues Detroit, Alleging City Did Not Hire Enough Republican Poll Watchers

By Samantha Flom The Republican National Committee (RNC) is suing the Election Commission for the City of Detroit, alleging that it failed to hire enough ...

Alaska Landslide Kills One Person and Injures 3 in Ketchikan, Authorities Say

By The Associated Press ANCHORAGE, Alaska—One person was killed and three were injured by a landslide that prompted a mandatory evacuation in the Alaska city ...

Former Democrat Tulsi Gabbard Endorses Trump

By Jackson Richman Former U.S. Rep. Tulsi Gabbard, who left the Democratic Party two years ago, on Aug. 26 endorsed former President Donald Trump for ...