USNN World News

Healthcare

Russia claims it will win race in finding coronavirus vaccine, scientists say not so fast

by USNN World NewsAugust 7, 2020August 7, 2020

National Security & Defense

China opposes US orders against TikTok, WeChat, to defend interests

by USNN World NewsAugust 7, 2020June 20, 2024

Economy

US employers hire 1.8M despite new COVID-19 shutdowns

by USNN World NewsAugust 7, 2020December 5, 2024

Economy

GOP senators pitch extending extra unemployment aid through end of year

by USNN World NewsAugust 6, 2020August 6, 2020

Economy

Capital One slapped with $80M fine for 2019 data hack

by USNN World NewsAugust 6, 2020August 6, 2020

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

NATIONAL NEWS

Federal Agents, Troops to Start 24/7 Patrol in Washington: White House

By Jacob Burg President Donald Trump will direct federal agents to patrol Washington around the clock, seven days a week, the White House announced on ...

Bullish Crypto Exchange Soars in NYSE Debut, Market Cap Briefly Tops $92 Billion

By Austin Alonzo Shares of cryptocurrency-exchange operator Bullish surged in their debut on the New York Stock Exchange, more than doubling in value and briefly ...

Federal Policing Takes Effect in Washington—What to Know

By Joseph Lord On Aug. 12, National Guard troops arrived in Washington after President Donald Trump federalized policing, citing a scourge of crime in the ...

Mexico Extradites 26 Alleged Cartel Members to US

By Aldgra Fredly Mexico extradited 26 alleged cartel members to the United States on Aug. 12, including high-ranking members of violent cartels labeled as foreign ...

How the Federal Settlements With Elite Universities Are Unfolding

By Aaron Gifford Eight months into President Donald Trump’s second term, four universities have reached settlements with the federal government following investigations into their diversity, ...

Uvalde School District Releases Records Related to 2022 Robb Elementary Shooting

By Aldgra Fredly The Uvalde Consolidated Independent School District on Monday released records related to the May 2022 mass shooting that killed 19 children and ...

DC Locals Have Mixed Reactions to Trump’s Police Takeover

By Stacy Robinson WASHINGTON—Residents of the nation’s capital showed various reactions to President Donald Trump’s plan to federalize the local police force. Early on Aug. 11, ...

Trump Places DC Police Under Federal Control, Orders National Guard to Washington

By Jackson Richman WASHINGTON—President Donald Trump announced on Aug. 11 that he will activate hundreds of National Guard troops to be in the nation’s capital ...

Environmental Protection Agency Terminates Contracts With Unionized Employees

By Melanie Sun The Environmental Protection Agency (EPA) is ending all contracts with unionized employees, a union president said on Aug. 8. Justin Chen, president of ...

Commerce Department Threatens to Take Ownership of Harvard Patents

By Naveen Athrappully The federal government is looking into Harvard University’s patent rights, Commerce Secretary Howard Lutnick said in an Aug. 8 letter to Harvard ...

Texas AG Files Suit With State Supreme Court to Declare Seats of 13 Absent Democrats Vacant

By Darlene McCormick Sanchez Texas Attorney General Ken Paxton filed a lawsuit with the state Supreme Court on Aug. 8, asking the court to declare ...

Suspect Dead, Officer Killed in Shooting Reported at Emory University

By Sam Dorman A shooting at Emory University in Atlanta on Aug. 8 has left a law enforcement officer and assailant dead, according to authorities. Police ...