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

Sarah Sanders, Former Trump Aide, Announces Run for Arkansas Governor

By Zachary Stieber Ex-Donald Trump aide Sarah Sanders on Monday announced she’s running to be governor of Arkansas. “America is great because we are free. But today, ...

Constitutional Amendment to Prevent Supreme Court Packing Resurfaces

By Matthew Vadum Sen. Shelley Moore Capito (R-W.Va.) introduced legislation Jan. 22 to amend the U.S. Constitution to limit the Supreme Court to nine justices, the numerical ...

Michigan Rep. Upton Unanimously Censured by County GOP for Impeachment Vote

By Jack Phillips A Michigan county’s Republican Party voted to censure Rep. Fred Upton (R-Mich.) for his vote to impeach former President Donald Trump earlier this month. During ...

Thousands of National Guard Troops to Remain in DC Through March

By Zachary Stieber At least 5,000 National Guard members will remain in Washington through mid-March, a spokesman for the agency confirmed to The Epoch Times. “As we continue to work ...

US Marshalls Rescue 33 Missing Children in ‘Operation Lost Angels’

By Lorenz Duchamps More than 30 children were rescued by U.S. Marshalls from human trafficking in Southern California, including eight who were being sexually exploited, the FBI announced Friday. The ...

Texas Attorney General Threatens to Sue Biden Administration Over ‘Illegal Deportation Freeze’

By Jack Phillips Texas Attorney General Ken Paxon said he will sue the Biden administration over its “illegal deportation freeze.” “Border states like Texas pay a particularly ...

Trump Makes First Public Comments Since Leaving Office

By Jack Phillips Former President Donald Trump said Friday in his first public comments since leaving office that he’ll make a comeback in some way but didn’t ...

Twitter Sued by Child Sex Trafficking Victim

By Gary Du A sex trafficking victim has filed a lawsuit against Twitter in a U.S. district court in California, alleging that the social media ...

Articles of Impeachment Filed Against Biden by GOP Rep. Marjorie Taylor Greene

By Mimi Nguyen Ly Newly-elected Rep. Marjorie Taylor Greene (R-Ga.) on Jan. 21 announced she has introduced articles of impeachment against the new president, Joe Biden. The articles of impeachment ...

Sen. Rand Paul: For America to Begin to Heal and Unite, Senate Must Halt Impeachment

By Masooma Haq Senator Rand Paul (R-Ky.) has said that for the United States to begin truly healing, President Joe Biden should publicly call on ...

Pelosi: House Will Move Immediately on Pandemic Relief

By Jack Phillips House Speaker Nancy Pelosi (D-Calif.) said the House of Representatives will move immediately on passing a pandemic spending package. In a news conference on Thursday, ...

Biden Administration Took Several Big Steps in Wrong Direction on First Day: McConnell

By Zachary Stieber President Joe Biden’s administration took steps in the wrong direction on Biden’s first day in office, Senate Republican Leader Mitch McConnell (R-Ky.) said Thursday. “The president ...