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

Dow tumbles over 1,000 points as coronavirus crisis spirals

By Jonathan Garber FOXBusiness The Dow Jones Industrial Average is now negative for the year. U.S. equity markets experienced a sharp selloff on Monday after a surge in the ...

Tennessee doctor convicted in region’s first ‘Opioid Strike Force Takedown’

By Bradford Betz | Fox News A Tennessee doctor pleaded guilty Friday to distributing opioids to people who were not his patients, marking the first conviction for the Appalachian Regional Prescription ...

Philip Haney, DHS whistleblower during Obama era, found dead, police say

By Nick Givas | Fox News Philip Haney, a Department of Homeland Security (DHS) whistleblower who was an outspoken critic of the administration of former President Barack Obama, ...

Graham reveals big questions he has ahead of Senate FISA probe

By Ronn Blitzer | Fox News Sen. Lindsey Graham, R-S.C., revealed key questions he has going into the Senate Judiciary Committee’s investigation of the initiation of the Russia probe and the FBI’s ...

Trump congratulates Sanders on Nevada caucuses: ‘Don’t let them take it away from you’

By Nick Givas | Fox News Following Vermont Sen. Bernie Sanders’ projected win in the Nevada caucuses on Saturday, President Trump tweeted his congratulations and advised ...

Bernie Sanders projected to win Nevada caucuses

By Adam Shaw, Paul Steinhauser | Fox News Sen. Bernie Sanders will win the Nevada caucuses, Fox News is projecting, furthering the democratic socialist’s lead over his Democratic rivals and raising the question ...

Warren Buffett acknowledges he won’t live forever, tells investors: ‘Don’t worry’

By James Leggate FOXBusiness Berkshire Hathaway ‘100% prepared,’ Buffett says. Warren Buffett isn’t getting any younger, but the “Oracle of Omaha” doesn’t want Berkshire Hathaway investors to worry: The company ...

Bloomberg campaign office in Utah vandalized, one day after pointing finger at Bernie supporters for similar incident

By Marisa Schultz, Kelly Phares | Fox News Michael Bloomberg’s campaign headquarters in Utah was vandalized Friday night, just a day after his Tennessee office was defaced and Bloomberg’s ...

Nevada caucuses get underway as state Dems hope to avoid repeat of Iowa chaos

By Adam Shaw, Paul Steinhauser | Fox News The Nevada caucuses are getting underway on Saturday as Democratic presidential hopefuls face a more diverse electorate, with Sen. Bernie Sanders ...

Trump furious Americans infected with coronavirus flew back to US without his permission: report

By Marisa Schultz | Fox News President Trump was furious that 14 Americans infected with the coronavirus returned to the United States without his permission rather than remain in quarantine overseas, according to a ...

Trump, Schiff spar ahead of Nevada caucuses over claim Russians trying to help Bernie Sanders

By Alex Pappas | Fox News President Trump and Democratic Rep. Adam Schiff tangled on Twitter ahead of the Nevada caucuses on Saturday over the reports U.S. officials believe Russia is attempting ...

Bernie Sanders’ surge has party elders rattled, as Nevada poised to boost momentum

By Brooke Singman | Fox News Bernie Sanders’ surge in national polls and success in the early-voting states has Democratic Party elders increasingly concerned about the self-proclaimed democratic ...