Democrats routinely demonize the Republican Party as wanting to give big corporations and wealthy Americans a tax break, arguing that conservative economic plans hurt middle and lower income Americans.
Now, House Speaker Nancy Pelosi wants to give higher-earning Americans tax relief in the next coronavirus stimulus package.
In an interview with the New York Times, Pelosi suggested reversing a $10,000 cap on state and local tax deductions - known as SALT - included in the 2017 Republican tax reform bill.
The rollback "Would provide a quick cash infusion in the form of increased tax rebates to an estimated 13 million American households," according to the Times.
Those benefiting would be exclusively American households earning more than $100,000 per year - dare we say, the wealthiest Americans.
Democratic politicians oppose the SALT deduction limits because they often represent wealthier Americans who live in states and cities with high taxes, such as California, New York, and New Jersey.
"Restoring the SALT deduction, as Speaker Pelosi advocated, would once again force low and middle income people to subsidize wealthy individuals in high tax states and municipalities - like the Speaker's home in San Francisco, California," Sen. Pat Toomey said, The Hill reported.
https://www.theblaze.com/news/pelosi-gets-called-out-after-proposing-tax-benefit-that-would-help-only-wealthy-americans#new_tab
Now, House Speaker Nancy Pelosi wants to give higher-earning Americans tax relief in the next coronavirus stimulus package.
In an interview with the New York Times, Pelosi suggested reversing a $10,000 cap on state and local tax deductions - known as SALT - included in the 2017 Republican tax reform bill.
The rollback "Would provide a quick cash infusion in the form of increased tax rebates to an estimated 13 million American households," according to the Times.
Those benefiting would be exclusively American households earning more than $100,000 per year - dare we say, the wealthiest Americans.
Democratic politicians oppose the SALT deduction limits because they often represent wealthier Americans who live in states and cities with high taxes, such as California, New York, and New Jersey.
"Restoring the SALT deduction, as Speaker Pelosi advocated, would once again force low and middle income people to subsidize wealthy individuals in high tax states and municipalities - like the Speaker's home in San Francisco, California," Sen. Pat Toomey said, The Hill reported.
https://www.theblaze.com/news/pelosi-gets-called-out-after-proposing-tax-benefit-that-would-help-only-wealthy-americans#new_tab
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