Pelosi Sneaks Tax Break For Her Rich Friends Into ‘Infrastructure’ Power Grab Bill

Nancy Pelosi is trying to add a tax break for rich Democrats in the infrastructure bill. She wants to restore the SALT deduction. (State and Local Taxes) Currently, they can only write off a maximum of $10,000 and she wants to make it unlimited. That allows the rich to write off their property tax, state tax, and local taxes. Millionaires save a bundle. The cost of her action would cost the Treasury a ton of money every year.

Since the tax reform bill’s passage in 2017, Democrats have been trying to get that thrown out to benefit rich New Yorkers and Californians. A five-million-dollar mansion in LA county pays 1% which comes out to $50,000. That alone gives them an additional $40,000 dollar deduction. That does not include state and local taxes on their income. Imagine the kickbacks the Democrats will rake in.

Washington Examiner:

Pelosi called the cap “mean-spirited” and “a political action on the part of the Republicans.”

California is among the states impacted by the SALT cap, along with New York, New Jersey, and other places with high property taxes and expensive real estate.

Republicans immediately attacked the idea of eliminating the cap.

“Restoring the SALT deduction would once again force low- and middle-income people to subsidize wealthy individuals in high-tax states and municipalities,” Sen. Pat Toomey, a Pennsylvania Republican, said.

It will also give Democratic governors an excuse to raise taxes even more. Not that Democrats ever really need a reason to raise taxes. It’s in their DNA. So, the Democrats get a cut, the state will take a cut and Joe Biden will take a huge bite out of their wallets. Come to think of it, the rich may come out of this with a loss. You can only cut a pie so many times.

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From PJ Media

The majority of taxpayers still receive a tax break for writing off their state and local taxes. Capping the deduction was good policy at the time and good policy now.

he problem is that Democrats don’t want to have to face the consequences of their profligate spending. It’s not as easy to continually raise taxes to pay for their ever-expanding government when taxpayers begin to feel the pinch.

Democratic members in high-tax states like New York, New Jersey, Maryland, and California are under increasing pressure from their wealthy homeowners to get rid of the cap. They’re also hearing it from members of their state legislatures and local governments.

This may be one of the last chances they have to shoehorn the SALT deduction repeal into legislation before they lose their majority.

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Joe

Why aren’t these people in prison!!! They do whatever the fk they want and screw the rest of us.

RockyMtn 1776

Why ? Because American citizens let them get away with it.

William Brennan

Of course Pelosi would do this. She and other Democratic representatives seem only to care about their agenda. We the people are too ignorant to know the truth because to express it is to be censored and punished because we don’t do what they want. The use of threats violates the principles written in the Constitution of the United States. Pelosi and her Nazi Fascist Socialist attitude need to relearn this fact. This isn’t a country of us ” the government”. It is a country of “We the People!”

Gary Smith

Piglosi is a POS

Georgiana Minton

Nancy Pelosi needs to be stopped !! This is not legal or morale !!

mike grunewald

which ever in many other countries she would be toast

robert adams

The government doesn’t have the money for the infrastructure bill as it is and now Pelosi wants to add pork to the bill to benefit the rich. Yea right, let’s print more money. Just like a typical Democratic she didn’t get enough pork in the 1.9 trillion (that’s trillion with a T) dollar stimulus bill. The Democrats are taking advantage of the chaos in the WH that is playing the game of who is in charge? I know the Democrats want to get as much as they can because they know they will probably lose the advantage in the 2022 elections. The problem with that is it makes them look like the greedy socialists that they are.

william g munson

That what We Corrupt Democrats are in Congress for to give to friends and for our selves too What

Mark Gravitte

You know, when that old 80 proof BITCH dies from old age, I am going on my back porch look up to the heavens and thank God. Then and only then will America be free from her evil hands. Amen.

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