As Democrats plan to force their $3.5 trillion (actually $5 trillion) reckless tax-and-spend bill through Congress, a group of House and Senate members from high-tax states say they won’t support the bill unless it includes a massive tax cut for millionaires and billionaires.
The tax cut would come through the elimination of the cap on state and local tax (SALT) deductions. Democrat Congressman Thomas Suozzi of New York laid it out in simple terms: “No SALT, no deal.” By eliminating the cap on SALT deductions, wealthy people in states with high taxes, like Pelosi’s California and Schumer’s New York, can write off state and local taxes from their federal bill.
But not all Democrats feel this way. 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.”
Democrats now need to fix this mess if they are to pass the multi-trillion-dollar socialist spending spree authored by Bernie Sanders. According to one analysis, the bill would usher in a new “cradle to the grave” relationship between the federal government and American citizens…also known as socialism.
We introduce to you the Democrats’ Fall Agenda: Socialism with a pinch of SALT.
Statement from NRSC Spokesman T.W. Arrighi: “Democrats’ dreams of socialism in America hang by a thread as members of their party demand tax cuts for millionaires and billionaires in high-tax states like New York, New Jersey, and California. If that contradiction has your head spinning, you’re not alone. Will vulnerable Democrat incumbents like Maggie Hassan, Raphael Warnock, Mark Kelly, Catherine Cortez Masto, and Michael Bennet support tax cuts for the rich in Chuck Schumer’s New York and Nancy Pelosi’s California in order to jam through their ‘cradle to the grave’ Socialist spending spree? Both harm their states’ constituents, but so far, their fealty to party leadership is unending.”