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

Pence: Constitution ‘Constrains Me’ From Rejecting Electoral Votes

By Zachary Stieber Vice President Mike Pence on Wednesday said that he doesn’t believe he has the “unilateral authority” to decide between competing slates of electors. “It ...

Handful of States Begin Paying Out Extra $300 Weekly Jobless Benefit

By Tom Ozimek Around a dozen states have begun paying out the extra $300 per week in unemployment benefits that are part of the recently enacted COVID-19 ...

Trump: Pence ‘Has the Power to Reject Fraudulently Chosen Electors’

By Jack Phillips President Donald Trump asserted on Tuesday that Vice President Mike Pence has the power to reject electors that were fraudulently chosen, echoing statements made by his ...

Trump: ‘I Hope Mike Pence Comes Through for Us’

By Janita Kan President Donald Trump said on Monday that he hopes Vice President Mike Pence will do more than just carry out a ceremonial role ...

GOP Congressman Signs First Objection to States’ Certifications for Jan. 6 Electoral Challenge

By Jack Phillips Rep. Mo Brooks (R-Ala.) said Monday that he signed an objection to the electoral vote in six states ahead of the Joint Session of ...

Sen. Kelly Loeffler to Object to Electoral College Certification Process

By Mimi Nguyen Ly Sen. Kelly Loeffler (R-Ga.) announced on Monday that she will object to Electoral College votes when lawmakers gather for a joint session ...

Leaked Report Reveals ‘Systematic Malpractice’ in China’s Organ Transplant System: Expert

By Nicole Hau and Cathy He Evidence of large-scale forced organ harvesting has cast a shadow on China’s organ transplant system for more than a decade. Now an internal ...

Americans’ Distrust of Media Reaches New High, Gallup Says

By Matthew Vadum Americans’ distrust of mass media has reached a record high, with 33 percent of those polled by Gallup saying they had no confidence at all in ...

Pro-Trump Protest Organizers Announce New Details for Jan. 6

By Zachary Stieber People organizing pro-President Donald Trump protests in Washington for Jan. 6 announced new details over the weekend. Amy Kremer, a “March for Trump” ...

Pence: ‘We’ll Have Our Day in Congress’ During Jan. 6 Electoral Challenge

By Jack Phillips Vice President Mike Pence addressed the upcoming Jan. 6 electoral challenge, saying that President Donald Trump and Republicans will “have our day in Congress.” “I ...

DC National Guard Activated to Help Support Police During Pro-Trump Protests

By Zachary Stieber More than 300 District of Columbia National Guardsmen will be in Washington this week to help support police officers patrolling protests scheduled by supporters of ...

Rep. Jim Jordan to Challenge Electoral Votes: ‘We Have a Duty to Step Forward’

By Jack Phillips Rep. Jim Jordan (R-Ohio) said he will challenge the electoral votes on Jan. 6 because Democrats weaponized mail-in ballot initiatives in key ...