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

Energy Secretary Says US, Saudi Arabia on Pathway to Civil Nuclear Agreement

By Jacob Burg Saudi Arabia and the United States will sign a preliminary agreement of cooperation as the kingdom intends to create a civil nuclear ...

New US Warship Deploys in Support of Border Security Operations

By Ryan Morgan The U.S. Navy has dispatched a warship to help support ongoing U.S. border security operations on April 11. The guided-missile destroyer USS Stockdale ...

Passengers Will Soon Need Real ID to Board Domestic Flights, TSA Warns

By Bill Pan In less than a month, Americans without a star on their driver’s license may face potential delays or even be turned away ...

Federal Prosecutor Launches Probes of New Jersey Governor, Attorney General

By Samantha Flom The acting U.S. attorney for the District of New Jersey has opened investigations into the state’s governor and attorney general for allegedly ...

Maine Referred to DOJ for Allowing Transgender Athletes in Girls’ Sports

By Aaron Gifford The Department of Education has referred Maine to the Department of Justice after the state refused to end the participation of boys ...

Trump Authorizes Military to Take Control of Federal Land Along Southern Border

By Bill Pan President Donald Trump on Friday issued a memorandum authorizing the U.S. military to take control of a strip of federal land along ...

Trump Exempts Phones, Computers, Other Electronics From Reciprocal Tariffs

By Naveen Athrappully President Donald Trump exempted a range of everyday products, specifically in the electronic category, from reciprocal tariffs while importing into the United ...

US Crude Oil Exports Hit Record High: EIA

By Naveen Athrappully Exports of American crude oil surged last year to a new high, with Europe remaining a major customer for the United States, ...

Musk Says DOGE Expects to Save $150 Billion by Reducing Waste, Fraud

By Katabella Roberts Elon Musk said on Thursday that he expects the Department of Government Efficiency (DOGE) to save $150 billion from the federal budget ...

DHS Reminds Illegal Immigrants to Comply With Registration Mandate Before Deadline

By Bill Pan The Department of Homeland Security (DHS) is reminding those in the United States illegally to register with the government, following a legal ...

Goods at Sea Dodge Tariffs Until May, Those Warehoused Taxed When Taken

By John Haughey With a whirlwind of changes to U.S. tariffs, there’s a scramble to understand how the duties will impact goods in transit on ...

House Passes Bill to Require Proof of Citizenship to Vote

By Joseph Lord and Jackson Richman The House on April 10 gave the nod to a bill that would enhance documentation and identity requirements to ...