Look WHAT Pelosi and Biden Are Sneaking In
And the Democrats claim to care about the middle class.
Democrats have always claimed to be “standing up for the little guy” but it appears that those are just more false promises.
There is now controversy within the Democratic Party over President Biden’s economic agenda, that will likely pass by the end of the year, which appears could now give even larger tax cuts to wealthier Americans compared to middle and lower class Americans.
According to Insider, after several months of Democrat infighting, Biden’s $1.75 trillion social spending bill has a plan in it which will give $285 billion to raise the state and local tax deduction to $80,000 from the current $10,000 threshold.
This move would reverse former President Donald Trump’s 2017 tax law which was expected to last until 2026. This new law by Biden would allow wealthy Americans to write off a whopping $80,000 in state and local taxes.
This move would give rich Americans a massive tax cut greater than anything they have offered for low-income Americans.
“It would be preposterous if this legislation ends up cutting taxes for the wealthiest people in America,” Democratic Sen. Michael Bennet argued.
