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Authored by Mike Shedlock via MishTalk.com,
State and Local Tax (SALT) deductions have made hypocrites out of the entire group of House Democrats. Tax Plan Inflames Democratic Debate
House Democrats are in a fresh revolt over SALT.
It’s a fine (hypocritic) time for it given they all voted for the Build Back Better build.BBB is now in the hands of the Senate where an Inflamed Discussion is taking place. House passage of Democrats’ $2 trillion education, healthcare and climate package has inflamed an intraparty debate about whether the bill gives overly-generous tax benefits to high-income Americans.At the center of the dispute is the House plan to raise the $10,000 cap on the deduction for state and local taxes to $80,000 through 2030. A small but committed group of lawmakers from high-tax states like New York and New Jersey have for years insisted on repealing the $10,000 cap, which Republicans […]
Read the rest of this story here: www.zerohedge.com
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