Executive Branch - USNN World News

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

Healthcare

Kodak lands $765M US loan under Defense Production Act to boost drug production

by USNN World NewsAugust 3, 2020August 28, 2024

NATIONAL NEWS

Deal Reached to End New Jersey Transit Strike: Union Chairman

By Joseph Lord Three days after the start of a strike by New Jersey transit employees, an agreement has been reached under which the unionized ...

Federal Officials Start Investigation Into Mexican Tall Ship That Hit Brooklyn Bridge

By Jack Phillips Federal officials confirmed on May 18 that they are sending a team to investigate the Mexican Navy tall ship crash at the ...

FBI Identifies Suspect in Palm Springs Fertility Clinic Bombing

By Jack Phillips An FBI official said on May 18 that the bureau believes that it has identified the suspect involved in a bombing near ...

Deadly Storms Rip Through Kentucky and Missouri, Leaving at Least 23 Dead, Dozens Injured

By Tom Ozimek and T.J. Muscaro Severe storms that swept across the Midwest and South on Friday killed at least 23 people and injured dozens ...

Patel Says FBI Is Moving Out of Washington Headquarters

By Jack Phillips FBI Director Kash Patel on Friday morning confirmed that the FBI is leaving its Washington headquarters, known as the J. Edgar Hoover ...

Barclays Revises US Recession Outlook After China Trade Truce

By Katabella Roberts Barclays no longer expects the United States economy to fall into a recession later this year and has revised up its growth ...

New Jersey Train Engineers Go On Strike, Halting Service in New York City Area

By Oliver Mantyk NEW YORK CITY—New Jersey Transit train engineers went on strike on May 16, halting service to 350,000 riders in the New Jersey ...

Supreme Court Wrestles With Nationwide Injunctions in Birthright Citizenship Cases

By Sam Dorman The Supreme Court on May 15 grappled with how far federal judges could go in issuing sweeping blocks on policies such as ...

EPA Targets Engine Start-Stop Systems in Cars

By Tom Ozimek The Trump administration is taking aim at automatic engine start-stop systems—technology installed in millions of U.S. vehicles to reduce fuel use and ...

Republicans Release Sweeping Tax Plan, Key Component of Trump’s Agenda

By Andrew Moran The House Ways and Means Committee, which manages taxes, released the full 389-page text of the long-awaited multi-trillion-dollar Republican tax plan on ...

US Could Hit Debt Limit in August, Bessent Says

By Andrew Moran and Lawrence Wilson The federal government is likely to exceed its statutory debt limit in August, when Congress is slated for a ...

DHS Says House Democrats and Protesters ‘Stormed’ ICE Detention Center

By Tom Ozimek A confrontation erupted Friday at a New Jersey detention center after three Democratic members of Congress and a group of protesters entered ...