Executive Branch - USNN World News

Healthcare

Russia claims it will win race in finding coronavirus vaccine, scientists say not so fast

by USNN World NewsAugust 7, 2020August 7, 2020

National Security & Defense

China opposes US orders against TikTok, WeChat, to defend interests

by USNN World NewsAugust 7, 2020June 20, 2024

Economy

US employers hire 1.8M despite new COVID-19 shutdowns

by USNN World NewsAugust 7, 2020December 5, 2024

Economy

GOP senators pitch extending extra unemployment aid through end of year

by USNN World NewsAugust 6, 2020August 6, 2020

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

Presidential Actions

Trumps weighs executive action to suspend evictions, payroll tax

by USNN World NewsAugust 4, 2020October 14, 2024

National Security & Defense

Missing sailors rescued from Pacific island after SOS signal spotted in the sand

by USNN World NewsAugust 4, 2020August 4, 2020

Economy

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

by USNN World NewsAugust 3, 2020August 3, 2020

NATIONAL NEWS

Census Map Shows Dramatic California Exodus

By John Seiler Commentary Sometimes a map tells a dramatic story. That’s the case for the following map released March 30 by the U.S. Census Bureau. It shows ...

US Manufacturing Slumps to Lowest Level in 3 Years

By Tom Ozimek U.S. manufacturing activity contracted in March for the fourth straight month, dropping to its lowest level in nearly three years amid a ...

US Now a Majority Permitless Carry Country After DeSantis Signs Gun Rights Law

By Jack Phillips Florida Gov. Ron DeSantis signed a “permitless carry” bill into law on April 3, making Florida the 26th state to do so, ...

Rep. Jordan Says Subpoena ‘On the Table’ for Manhattan DA After Trump Indictment

By Ryan Morgan Rep. Jim Jordan (R-Ohio) said a subpoena is on the table if it will compel Manhattan District Attorney (DA) Alvin Bragg to ...

Trump Arrives in New York City Ahead of Tuesday’s Arraignment

By Jack Phillips Former President Donald Trump arrived in New York City on Monday afternoon as he prepares to surrender himself to the Manhattan District ...

Trump Intelligence Director John Ratcliffe Says Manhattan DA Indictment Leak Is a ‘Felony’

By Jack Phillips Former Director of National Intelligence John Ratcliffe said that the leaking of information suggesting that former President Donald Trump would be indicted ...

Jared Kushner Breaks Silence on Trump Indictment

By Jack Phillips Former President Donald Trump’s son-in-law and erstwhile White House advisor Jared Kushner responded to a Manhattan grand jury having indicted the former ...

Trump Indictment Unifies GOP, Undermines American’s Trust in Justice System: Pundits

By Alice Giordano The indictment of Donald Trump has not only brought unity to a fractured Republican party, political pundits and legal analysis also say ...

Key Things to Know About Trump’s Indictment

By Tom Ozimek Former President Donald Trump’s unprecedented indictment has surged into the limelight and fueled public debate over whether this case is legitimate and ...

US Electric Vehicle Tax Credits Get Tougher to Navigate

By Nathan Worcester Claiming a tax credit for your electric vehicle may soon get more complicated. The Treasury Department and the Internal Revenue Service (IRS) issued ...

Treasury Warns Social Security Fund Will Run Out of Money by 2033

By Tom Ozimek A new government report shows that the Social Security system’s main trust fund will be depleted by 2033, one year sooner than ...

Trump Supporters Gather Near Mar-a-Lago to Support Former President After Indictment

By John Haughey PALM BEACH, Fla. — Debbie Macchia comes to the Southern Boulevard Bridge to wave flags, sing patriotic songs, and enjoy a fellowship ...