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

Thomas Massie Introduces Bill to Audit America’s Gold Reserves

By Andrew Moran Rep. Thomas Massie (R-Ky.) introduced legislation on June 6 to audit gold reserves held by the United States. Earlier this year, President Donald ...

Treasury Sanctions El Chapo’s Sons and Key Allies Over Fentanyl Trafficking

By Chase Smith The U.S. Treasury Department on June 9 sanctioned two sons of Joaquín “El Chapo” Guzmán and several members of their network, accusing ...

What to Know About the Insurrection Act of 1807

By Stacy Robinson and Joseph Lord As protests against federal immigration enforcement flared across Los Angeles over the weekend, questions have arisen about whether President ...

US Sets New Energy Production Record in 2024, Driven by Growth in Natural Gas, Renewables

By Chase Smith The United States produced more energy in 2024 than in any year on record, according to newly released data from the Energy ...

US Military Says 500 Marines Are ‘Prepared to Deploy’ to Los Angeles

By Jack Phillips U.S. military officials confirmed Sunday that around 500 Marines are “prepared to deploy” if necessary to quell unrest in Los Angeles in ...

Cars Set on Fire as LA Protests Intensify on Third Night

By Jack Phillips and Joseph Lord Thousands of protesters have blocked off a major freeway in Los Angeles and set several self-driving taxis on fire ...

Speaker Johnson Downplays Musk’s Influence, Suggests Republicans Will Pass Budget Bill

By Jack Phillips House Speaker Mike Johnson (R-La.) on June 8 downplayed tech billionaire Elon Musk’s critical comments and said that House Republicans will pass ...

FBI Issues Warning to Agitators Who Assault Police During LA Unrest

By Jack Phillips FBI Director Kash Patel said that the agency will target individuals who assault law enforcement officials during protests and riots in Los ...

Plane With up to 20 People on Board Crashes in Tennessee, Officials Say

By Jack Phillips A plane with as many as 20 people on board crashed in Tennessee on Sunday, leading to several people being airlifted to ...

Musk Mulls New Political Party Amid Feud With Trump

By Tom Ozimek Elon Musk is considering launching a new political party in the wake of his public fallout with President Donald Trump over a ...

Trump Signs Orders on Deregulating Flying Cars, Supersonic Flight

By Jacob Burg President Donald Trump signed executive orders on June 6 to deregulate and open research and development into flying cars and supersonic aviation ...

USCIS Rescinds Policy to Allow More Restrictions on ‘Stateless’ Persons

By Arjun Sing WASHINGTON—U.S. Citizenship and Immigration Services (USCIS) has announced that it will rescind a policy adopted during the Biden administration that grants reprieve ...