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

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Sen. Cramer: Trump Campaign Legal Efforts ‘Appropriate,’ Can’t Ignore Signed Affidavits

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Sidney Powell Confirms Non-Affiliation With Trump Legal Team, Vows to Continue Fraud Fight

By Tom Ozimek Attorney Sidney Powell, who made headlines with claims that the 2020 election was rigged in favor of Democrat Joe Biden because of software ...

Governor and Secretary of State in Georgia Took Money From China (To Steal Election from Trump)

By Hal Turner Radio Show Georgia’s Republican Governor Brian Kemp and the Georgia Secretary of State Brad Raffensperger both allegedly took money from Communist China, ...

GOP Likely to Gain Third US House Seat in California

By John Gizzi, Newsmax Although the returns are not yet finalized in California’s 21st District, (Fresno, Kern counties) signs are strong that former Republican Rep. Dave ...

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By Michael Tarm, Associated Press MILWAUKEE (AP) — Wisconsin recount observer Ardis Cerny stretched her neck as far as she could toward a Plexiglas divider ...

Pence Paints Georgia Senators as ‘Last Line of Defense’ for Republicans

By Zachary Stieber Vice President Mike Pence on Friday urged Georgians to vote Republican in upcoming U.S. Senate runoffs that will determine which party controls the upper ...

Law Firm Withdraws From Representing Boockvar in Trump Campaign’s Pennsylvania Lawsuit

By Tom Ozimek Law firm Kirkland & Ellis has requested withdrawal from representing Pennsylvania Secretary of State Kathy Boockvar in a lawsuit brought forward by the Trump ...

Trump Lawyer Says New Lawsuits Will Be Filed in Georgia Soon: ‘Quite a Shock’

By Jack Phillips President Donald Trump lawyer Jordan Sekulow said an election challenge that will be filed this week contains new allegations about irregularities. “We have got lawsuits likely to ...

Giuliani alleges Dominion director’s ties to Antifa; More people bullied over fraud claims

By NTD News https://youtu.be/mX2S_II2S-Y 00:00 Giuliani Alleges Dominion Director’s Ties to Antifa A man who claims he infiltrated a call between Antifa members, says he has ...

GOP Chair: Republicans Have to Find ‘Every Single Irregularity’

By Jack Phillips The GOP needs to get behind hunting “down every single irregularity” during the Nov. 3 election, said Republican National Committee Chair Ronna McDaniel, who said that the ...