USNN World News

Economy

Trump officials recommend executive action as stimulus talks break down

by USNN World NewsAugust 7, 2020August 7, 2020

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

NATIONAL NEWS

US Stock Futures, Oil Rebound as Investors Buy Omicron Dip

By Tom Ozimek U.S. stock futures and crude oil prices led a market rebound on Nov. 29 following sharp selloffs in risk assets on Black ...

Cyber Monday Sales Expected to Slow as Shoppers See Fewer Deals

By Reuters U.S. retailers are estimated to generate online sales of up to $11.3 billion on Cyber Monday, a decline in growth from a year ...

Biden’s Build Back Better bill fails Manchin’s three-part test

By Conn Carroll West Virginia Sen. Joe Manchin has a three-part test he applies to new legislation, and President Joe Biden’s Build Back Better agenda ...

Fauci hit by Cruz missile in war of words over ‘science’

By Daniel Chaitin, Deputy News Editor Sen. Ted Cruz fired back at Dr. Anthony Fauci in a cocktail of words mixing science, politics, and COVID-19. The Texas Republican sent ...

Goldman Sachs Slams Omicron Panic: ‘Mutation Is Unlikely to Be More Malicious’

By Jack Phillips Investment bank Goldman Sachs has asserted that concerns over the COVID-19 Omicron variant likely are unfounded. “This mutation is unlikely to be more malicious and that the ...

Any civil rights lawsuit against Kyle Rittenhouse ‘will fail,’ legal analysts say

By Kaelan Deese, Breaking News Reporter Following the jury’s acquittal of Kyle Rittenhouse , the teenager who beat felony homicide charges over the deaths of two protesters in ...

Buyer’s remorse: Five California laws that have come back to bite them

By Tori Richards, Investigative Reporter California has a propensity for starting trends that sweep through the rest of the nation, whether it was the hippie ...

Epstein Victims’ Fund Hands Maxwell Accusers’ Claims to Maxwell, Prosecutors

By Zachary Stieber Information about women who said they were abused by late sex offender Jeffrey Epstein was handed over on Nov. 24 to prosecutors ...

What Americans Say About Rising Prices This Thanksgiving

By Cara Ding, Steven Kovac, Jackson Elliott, Michael Sakal, Allan Stein and Jannis Falkenstern On the verge of celebrating Thanksgiving with her family, Melissa Ngo wasn’t happy after her grocery shopping trip. The high ...

Anti-Police, Prison Rhetoric Unpopular With Biden, Democrat Lawmakers

By Joseph Lord Since the death of George Floyd during the summer of 2020, progressives have pushed for sweeping new changes to policing in the ...

CVS, Walgreens, Walmart Contributed to Opioid Crisis, Ohio Jury Finds

By Isabel Van Brugen Three of the nation’s largest chain pharmacies, CVS, Walgreens, and Walmart, contributed to an opioid crisis in two Ohio counties, a federal jury found on Tuesday. The three pharmacy chains ...

Manchin Asks Biden to Restart Keystone XL Pipeline

By Joseph Lord Sen. Joe Manchin (D-W.Va.) is asking President Joe Biden to restart construction of the Keystone XL pipeline as gas prices continue to ...