TOPLINE: Whip Scalise is committed to exposing President Biden and Congressional Democrats’ giveaways to radical special interest groups and the far-left provisions buried in their 2,135-page big government tax-and-spending spree that they rushed through the House of Representatives. There are many “hidden gems” that Democrats handed the socialists, and Whip Scalise will continue to highlight them.   Huge Tax Break For Wealthy Americans in Blue States   Section 137601, as amended by the November 4th managers amendment, raises the state and local tax (SALT) deduction cap from $10,000 to $80,000 until 2030.     Make no mistake: it’s the wealthy that benefit from this tax break. According to the Center for a Responsible Federal Budget, “While those in the middle of the income spectrum would receive an average tax cut of roughly $20 per year, the highest earners would enjoy over $23,000 per year in tax cuts from this provision.”   Even Democrats have slammed raising the SALT cap because it is a tax break that primarily benefits millionaires living in high-tax blue states.  

 

    BOTTOM LINE: By dramatically expanding the SALT deduction, President Biden and Speaker Pelosi will be giving the richest Americans a big tax cut while most low-income and middle class families get left behind by their bill. Democrats' reckless tax-and-spending spree shows that when Democrats control Washington, they use their power to give billions of dollars to their wealthy and elitist base.