Pelosi’s Bill Gives Massive Tax Break To The Rich In Mostly Blue States, Taxpayer Money To Illegal Aliens

Pelosi’s Bill Gives Massive Tax Break To The Rich In Mostly Blue States, Taxpayer Money To Illegal Aliens
Nancy Pelosi by C-SPAN is licensed under Wiki Commons Wiki Commons

Democrat House Speaker Nancy Pelosi unveiled her new $3 trillion coronavirus stimulus package on Tuesday, which she reportedly crafted largely without bipartisan input, that includes a massive tax break for the super rich in predominately blue states and directs taxpayer money to illegal aliens.

“It is imperative that we address the needs of the American people with clarity on how we proceed,” Pelosi said on Tuesday afternoon. “That is why today House Democrats are introducing the HEROES Act, named for our heroes, whose provisions are largely based on the four previous bipartisan bills we have passed. The HEROES Act focus on three pillars, opening our economy safely and soon, honoring our heroes, and then putting much needed money into the pockets of the American people.”

Buried deep inside her bill is a measure that would “reinstate the so-called SALT itemized deduction for 2020 and 2021,” CNBC reported. “The Tax Cuts and Jobs Act, which went into effect in 2018, limited the amount of state and local tax deductions filers could claim on their tax returns to $10,000.”

The move would mostly benefit residents in high-tax states like California, New York, New Jersey, and Connecticut — all of which are Democrat strongholds.

The Committee for a Responsible Federal Budget reported:

Repealing the SALT cap retroactively for two years will also send out checks as people amend their 2018 and 2019 taxes, but those checks would be almost exclusively sent to high-income households. The average household making over $1 million would receive over $100,000. Households making less than $50,000 would receive almost no benefit from repealing or raising the SALT cap.
 





 

 Read more at The Daily Wire

Nancy Pelosi by C-SPAN is licensed under Wiki Commons Wiki Commons

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