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

New York City Mayor Eric Adams Indicted by Grand Jury: Media Sources

By Caden Pearson New York City Mayor Eric Adams has been indicted by a federal grand jury on criminal charges, according to two people familiar ...

Judge Declares NYC’s Data-Sharing Law for Food Delivery Apps Unconstitutional

By Katabella Roberts A New York City COVID-era law requiring food delivery companies to share various customer data with restaurants is unconstitutional, a federal judge ...

Trump Briefed on Specific Iran Threats to Assassinate Him

By Janice Hisle Former President Donald Trump, who has already survived two assassination attempts, has received a briefing on “real and specific threats from Iran ...

Congress Unanimously Passes Bill to Increase Secret Service Protection For Presidential Candidates

By Arjun Singh The Senate has unanimously passed a bill to increase the level of U.S. Secret Service protection for presidential and vice presidential candidates. ...

Senator Warns of Looming Port Strike That Threatens to Cripple US Supply Chain

By Jack Phillips A U.S. senator on Tuesday warned of economic repercussions ahead of a threatened strike at major East Coast and Gulf ports in ...

Pennsylvania County Must Update Voters on Mail-In Ballot Status

By Zachary Stieber A Pennsylvania county must inform voters if their mail-in ballots have been counted or rejected, a state appeals court ruled on Sept. ...

China, Iran, Russia Using AI to Influence US Elections, Intelligence Community Warns

By Tom Ozimek Foreign powers are increasingly using artificial intelligence (AI) to influence how Americans vote, according to a new intelligence report released just 45 ...

US Plans to Bring Attempted Assassination Charge Against Ryan Routh

By Jack Phillips and T.J. Muscaro WEST PALM BEACH, Fla.—Federal prosecutors are looking to bring a charge of attempted assassination against the man accused of ...

Trump Suspect Ryan Routh Left Note: ‘This Was an Assassination Attempt’

By Jack Phillips A court document submitted by federal prosecutors on Monday showed that Ryan Routh, the suspect in the apparent second assassination attempt against ...

In North Carolina, Trump Vows to Push Congress to Ban Sanctuary Cities

By Arjun Singh WILMINGTON, N.C.—Republican presidential nominee, former President Donald Trump, on Sept. 21 announced a new plan to use federal power to outlaw so-called ...

US Navy Directed to Prepare for War With China by 2027

By Andrew Thornebrooke The U.S. Navy on Sept. 19 released a new strategic document centered on countering communist China’s aggression in the Indo-Pacific. It directs the ...

An Overview of Significant Events on Road to Election and Beyond

By Stacy Robinson We’ve entered the final phase of the 2024 election cycle, which has been marked by twists and turns. The Republican nominee, former President ...