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

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 Security & Defense

Break the Ice: Trump ramping up US presence in the Arctic as Russia, China threats loom

by USNN World NewsAugust 3, 2020September 2, 2025

Healthcare

In Congress, challenges of combatting coronavirus parallel fights across the country

by USNN World NewsAugust 2, 2020August 2, 2020

National Security & Defense

Microsoft, TikTok officials in White House talks to prevent total ban

by USNN World NewsAugust 2, 2020June 20, 2024

Economy

Democrats, White House still at odds over extra coronavirus unemployment benefits

by USNN World NewsAugust 2, 2020August 2, 2020

NATIONAL NEWS

Florida’s ‘Cavalry’ Helps Secure the Border: ‘You’ve Got a Storm and We’re Coming to Help You’

By Patricia Tolson At a June 16 press conference, Florida’s Ron DeSantis became the first governor to answer the plea for help from fellow Republican ...

Investigative Issues: An Interview With Donald Trump, Unbowed

By Ben Weingarten, REAL CLEAR INVESTIGATIONS In a wide-ranging interview from the corner office atop his eponymous New York City tower last week, an unfiltered Donald Trump showed ...

Arizona Audit Finishes With Hand Count, Closing In on End of Paper Evaluation

By Zachary Stieber The 2020 election audit in Arizona’s largest county is projected to end by June 26, officials said in a new update. Audit teams led by Florida-based ...

Texas Governor Demands Biden Return Border Wall Land Seized by Federal Government

By Jack Phillips Texas Gov. Greg Abbott demanded that President Joe Biden’s administration return border property that was seized by the federal government for building a wall ...

Michigan Senate Passes Legislation to Add Voter ID Requirements: ‘Overwhelmingly Popular’

By Jack Phillips Michigan’s GOP-led Senate on Wednesday passed several bills that, if signed into law, would implement more voter identification requirements for in-person voters ...

Biden’s Oil and Gas Lease Ban Blocked by Federal Judge

By Tom Ozimek A federal judge in Louisiana has blocked President Joe Biden’s suspension of new oil and gas leases on federal land and water, delivering ...

Newsom Insists California’s Pending COVID-19 Verification System Not a ‘Vaccine Passport’

By Zachary Stieber California is developing a COVID-19 vaccine verification system that will enable people who have gotten a jab to show proof of the shot to businesses, ...

McConnell: GOP Would Likely Block Biden Supreme Court Pick in 2024

By Jack Phillips Senate Minority Leader Mitch McConnell (R-Ky.) suggested that Republicans, if they controlled the Senate in 2024, wouldn’t advance President Joe Biden’s Supreme Court nominee due ...

Arizona Senate Audit Liaison Disputes Report Claiming Hundreds of Thousands of Ballots Missing

By Zachary Stieber Spokespersons for the audit taking place in Arizona’s largest county are pushing back on a report that claimed auditors have discovered hundreds of thousands ...

GOP Mayor-Elect of Town That Is 85 Percent Latino Says Latinos Are ‘Opening Their Eyes’

By Jack Phillips The mayor-elect of a Texas border city with a population that is around 85 percent Latino claimed that Latino voters are switching from Democrat ...

Election Assessment in Pennsylvania County Uncovers Five ‘Issues of Note’

By Zachary Stieber An election assessment conducted in a Pennsylvania county months ago and quietly released to the public in recent weeks uncovered five errors, including three linked to ...

California Woman Who Got Both Moderna Vaccine Shots Dies of COVID-19: Officials

By Jack Phillips An elderly woman in Napa County, California, who had received both Moderna vaccine shots died from COVID-19, county health officials said. While scant details ...