Pelosi Pitches a Blue-State Bailout She wants to use virus relief to aid progressive state gov.

Yes Pelosi is threatening to hold up the next phase of tax relief for people suffering during this COVID health emergency to give tax cuts to the wealthy and highest earners. Will the citizens finally raise up and kick these people out of office for playing political games with their lives in a crisis. The old "never let a crisis go without getting something you want"?

"House Speaker Nancy Pelosi held up last week’s coronavirus relief bill with demands related to corporate diversity, carbon emissions and election reform. But Democrats are far from finished using the crisis to try to force through partisan priorities they couldn’t pass in normal times. Mrs. Pelosi is now hinting the price for further economic relief may include expanding a regressive tax deduction for high-earners in states run by Democrats.

On Monday Mrs. Pelosi told the New York Times she wanted Congress to “retroactively undo SALT.” In the 2017 tax reform, Republicans limited the state and local tax deduction to $10,000. That raised federal tax revenue mostly from high-tax parts of states like California, New York and New Jersey and helped pay for the rate cuts on corporate, small business and individual incomes. According to the Tax Foundation, the cap raised almost $33 billion in 2018 from those earning more than $1 million per year and had little impact for those earning less than $100,000......

Mrs. Pelosi’s remarks underscore the potential for further political mischief and long-term damage as the government intervenes to stimulate the economy. When Democrats next complain that Republicans want to cut taxes “for the rich,” remember that Mrs. Pelosi wants to cut them too—but mainly for the progressive rich in Democratic states."
https://www.wsj.com/articles/pelosi-pitches-a-blue-state-bailout-11585697310?mod=opinion_lead_pos2

 

Fake news. Fearmongering by righties. Cow dung.

In other words, typical rightie drivel not worth discussing.


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