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

US Stocks Bounce Back After Global Market Sell-Off

By Jack Phillips Global stocks rose in erratic trading on Tuesday following the previous day’s selloff and mounting concerns of a possible recession in the ...

Harris Picks Minnesota Gov. Tim Walz as Her Running Mate

By Jacob Burg and Lawrence Wilson Vice President Kamala Harris chose Minnesota Gov. Tim Walz as her running mate on Aug. 6, capping more than ...

Diet Outperforms Medication in Managing IBS Symptoms: Study

By George Citroner If you are battling irritable bowel syndrome (IBS), then your next prescription might be found in your kitchen. A study published in April ...

Trump Shooter Autopsy Report Released

By Jack Phillips Authorities in Butler County, Pennsylvania, released a report Thursday providing more details on the death of the 20-year-old man who tried to ...

Dow Jones Plunges 1000 Points Amid Global Market Selloff

By Jack Phillips U.S. stocks took a nosedive on Monday morning amid a worldwide stock market selloff as fears of a possible U.S. recession have ...

Election Integrity Activist Wants Wisconsin Election Bribery Statutes Enforced

By Steven Kovac Wisconsinite Jay Stone, president of the citizens’ group Honest, Open, and Transparent Government, has filed a complaint with the Wisconsin Elections Commission ...

US Embassy Warns American Citizens in Lebanon to Leave on ‘Any Ticket Available’

By Jack Phillips The United States, France, the United Kingdom, and many more countries warned their citizens to leave Lebanon as soon as possible amid ...

Hawaii Announces $4 Billion Combined Settlement for Deadly Maui Fires

By Naveen Athrappully A consortium of Hawaii businesses and state entities have agreed in principle to compensate and settle parties affected by the wildfires that ...

Trump Calls for Ending Tax on Social Security Payments for Seniors

By Jack Phillips Former President Donald Trump this week debuted the idea of seniors not having to pay taxes on their Social Security benefits, as ...

Harris Secures Enough Votes to Become Democratic Presidential Nominee, DNC Chair Says

By Jacob Burg Vice President Kamala Harris on Aug. 2 earned enough votes from Democratic delegates to secure the party’s nomination for president, Democratic National ...

Defense Department Reaches Plea Deal With Three 9/11 Defendants

By Stephen Katte Three defendants allegedly involved in the Sept. 11 terrorist attacks have entered into a plea deal with the United States Department of ...

Arizona’s Abe Hamadeh Beats Blake Masters in GOP Primary

By Nathan Worcester A fraternal battle among Arizona Republicans has ended: Abe Hamadeh has defeated Blake Masters in the primary for the GOP-friendly Eighth District. “They ...