While President Biden and Senate Democrats prepare to pass the largest tax hike in a generation within the $3.5 trillion (actually, $5 trillion) reckless spending spree, Chuck Schumer and Nancy Pelosi are trying to reward their millionaire and billionaire constituents and donors with a tax cut.
By raising the federal deduction cap on State And Local Taxes (SALT), rich property owners in high-tax states like New York and California will be able to write off more of their taxes than working families in less ritzy areas.
However, not all Democrats agree with their leadership on this issue. Senator Bernie Sanders (I-VT), the unofficial policy director of Senate Democrats, told Axios that he opposes lifting the SALT cap. In fact, he went so far as to say that it, “sends a terrible, terrible message when you have Republicans telling us that this is a tax break for the rich.” Congresswoman Alexandria Ocasio-Cortez agrees. She once called raising the SALT cap a “giveaway to the rich…a gift to the billionaires.”
Undeterred, Pelosi and Schumer have tried a number of times to ram this provision through Congress, including this summer.
Meanwhile, working families are bracing for tax hikes from Washington. According to a recent poll from the NRSC and RGA, two-thirds of independent voters are less likely to support this reckless tax and spending spree once they learn about its job-killing tax hikes.
Do Senators Maggie Hassan, Catherine Cortez Masto, Raphael Warnock, Mark Kelly, and Michael Bennet support cutting taxes for millionaires and billionaires while raising taxes on working-class families?