Here’s a link to the whole bill so you don’t have to rely on @chiproytx & his creative edits
Also, many taxpayers were affected by the limitations on tax deductions for state & local income taxes - it’s not just something that affects the ultra wealthy. https://apps.npr.org/documents/document.html?id=6888648-House-Coronavirus-Relief-Bill-May-12 …
Hidden in @SpeakerPelosi’s $3 trillion package is a tax cut for the rich. Shameful. Small businesses and restaurants around America are closing for good and all the speaker can think about are her wealthy friends in San Francisco and NYC.pic.twitter.com/wzSwggv2oy
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She wants this for herself. The tax someone like her would pay compared to someone in upper middle class like me is astronomically different. I'd be able to deduct about 15k more without the cap. She's likely to deduct over 150k from her taxes
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I see nothing in that random screen grab to indicate the Speaker has written or endorsed any such thing. And this is just rich, coming from a Rep in the Party that has pushed record tax cuts for the rich and gutted countless programs that benefit low-income Americans.
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The SALT deductions generally only benefit the rich, especially in high tax states. Everyone benefits from the deductions but typically only the top % pays enough state taxes to go above the caps put in place by the 2018 tax law. Removing the cap ONLY benefits the wealthy.
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There was $80b for hedge fund managers and other billionaires in previous bills also. Take them all out.
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Middle class Californian here. This would greatly help my family and I. Definitely not a tax cut "for the rich." Rep. Roy means to say, this is a tax cut for Democrats because there are a lot of them in California and New York. I guess I'm just collateral damage to Rep. Roy.
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Nice try, Chip. You know middle class people are impacted by limits on deductions for state and local taxes.
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So it’s true, money grows on trees?
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Too much $ going to NGOs!! Who are all these players!!!!
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