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

USAID Staff Ordered to Destroy Records, Court Filing Says

By Aldgra Fredly Some U.S. Agency for International Development (USAID) employees have received instructions to empty classified safes and destroy agency records, according to a ...

Ontario to Suspend Electricity Export Tariff After Premier, US Commerce Secretary Speak

By Jennifer Cowen Ontario says it will suspend its 25 percent surcharge on electricity exports to Michigan, New York, and Minnesota after Premier Doug Ford ...

Trump to Declare Emergency After Ontario Imposes Tariffs on Electricity Sold to US

By Travis Gillmore President Donald Trump announced on March 11 that he is planning to declare a national emergency after Canada’s Ontario province placed a ...

More Than 200,000 Government Credit Cards Deactivated: DOGE

By Jack Phillips The Department of Government Efficiency (DOGE) said more than 200,000 government credit cards linked to a handful of federal agencies were canceled ...

Zelenskyy Apologized to Trump After Oval Office Clash, Witkoff Says

By Tom Ozimek Ukrainian President Volodymyr Zelenskyy apologized to President Donald Trump for a heated Oval Office meeting this past week in a letter that ...

Secret Service Shoots Armed Man Near White House

By Jacob Burg The U.S. Secret Service shot an adult male near the White House following an “armed confrontation” with law enforcement shortly after midnight ...

DOGE Says It Found $312 Million in Loans That Were Given to Children During Pandemic

By Jack Phillips The Department of Government Efficiency (DOGE) said over the weekend that it found that the Small Business Administration (SBA) granted thousands of ...

Commerce Secretary Says Trump Will Not Ease Up on Fentanyl-Related Tariffs

By Jacob Burg Commerce Secretary Howard Lutnick said on March 9 that President Donald Trump is likely to maintain his tariff pressure on Mexico, Canada, ...

Trump Admin Will Explore Ways to Acquire Bitcoin for Strategic Reserve

By Emel Akan WASHINGTON—President Donald Trump said on March 7 that his administration is exploring ways to invest in bitcoin for the national strategic reserve, ...

House Republicans Unveil Funding Resolution, Trump Voices Support

By T. J. Muscaro House Republicans revealed a Trump-approved spending bill on March 8 that lays out a plan to keep the federal government and ...

Trump Administration Cancels Grants Worth $400 Million for Columbia University

By Jack Phillips The Trump administration on Friday announced it has canceled grants worth roughly $400 million for Columbia University, alleging the Ivy League school ...

Georgia Senate Passes Bill Allowing Trump and Allies to Recover Costs of 2020 Election Case

By Bill Pan Georgia’s Senate has approved a bill that could allow President Donald Trump and his allies to get compensated for legal fees in ...