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House Democrats Will Tank Biden’s BBB if Tax Cut for Rich Is Removed

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Every time there’s a Republican president and GOP controlled congress, as well as GOP control of a general assembly and governor’s mansion, the media trots out stories, originating from Democratic party press releases and talking points memos, about how any and every tax cut is “for the rich”. Elected Democrats will demagogue about this. But, what about when Democrats are in control?

Some House Democrats warn they will tank Biden’s big bill if a hefty tax cut for the rich is dropped

Biden Brain Sucker

Negotiations around the future of President Joe Biden’s Build Back Better legislation is slipping behind closed doors. Resistance from Sen. Joe Manchin of West Virginia has put the package on ice while Democrats make a renewed push to strengthen voting rights.

One part of the sprawling social and climate legislation left unresolved was the rollback of a $10,000 cap on the state and local taxes that taxpayers (WT note – primarily rich taxpayers) are able to deduct from their federal bill, known as SALT. Taxpayers used to have unlimited deductions before the new cap was introduced in the 2017 Trump tax law.

A group of Democrats from high-tax states like New Jersey and California added the rollback of the cap into the Build Back Better bill that passed the House in November, and they’re vocally standing behind the measure in the face of possible opposition from Manchin.

It’s caused angst among many Democrats, given that it hands wealthier households a hefty tax cut. Senate Democrats hadn’t settled on a compromise over the SALT deduction yet last month when Manchin came out against the economic plan, slamming it from advancing in the 50-50 Senate with Republicans lined up against it.

“If they’re passing Build Back Better legislation, it’s got to address SALT,” Rep. Mikie Sherrill of New Jersey told Insider on Wednesday, adding that it “remains” her position to oppose the package if it’s dropped.

Other House Democrats are also threatening to tank the bill over SALT, including Reps. Josh Gottheimer of New Jersey and Tom Suozzi of New York.

Well, looks like Democrats are the party of the rich, eh? And that Trump’s tax cuts were not benefiting The Rich. Perhaps some of these Democrats should consider why SALT is necessary in their high tax states?

Meanwhile

Biden supporters ‘apoplectic’ one year into his presidency

Just over a year ago, millions of energized young people, women, voters of color and independents joined forces to send Joe Biden to the White House. But 12 months into his presidency, many describe a coalition in crisis.

Leading voices across Biden’s diverse political base openly decry the slow pace of progress on key campaign promises. The frustration was especially pronounced this past week after Biden’s push for voting rights legislation effectively stalled, intensifying concerns in his party that fundamental democratic principles are at risk and reinforcing a broader sense that the president is faltering at a moment of historic consequence.

“People are feeling like they’re getting less than they bargained for when they put Biden in office. There’s a lot of emotions, and none of them are good,” said Quentin Wathum-Ocama, president of the Young Democrats of America. “I don’t know if the right word is ‘apoplectic’ or ‘demoralized.’ We’re down. We’re not seeing the results.”

What did they really expect? Biden did almost nothing during his decades in the Senate. He did little while vice president, and he was mostly elected because He Wasn’t Trump. A lot of people voted for him were expecting unity and kumbaya.

For now, virtually none of the groups that fueled Biden’s 2020 victory are happy.

Young people are frustrated that he hasn’t followed through on vows to combat climate change and student debt. Women are worried that his plans to expand family leave, child care and universal pre-K are stalled as abortion rights erode and schools struggle to stay open. Moderates in both parties who once cheered Biden’s centrist approach worry that he’s moved too far left. And voters of color, like those across Biden’s political base, are furious that he hasn’t done more to protect their voting rights.

A classic case of over-promise and under-produce, pretty much because there was almost no way to make those promises come true. It’ll be even more fun when the GOP takes control of the House and Senate, and starts pushing an agenda to get America moving again. Joe can either follow with or stall.



Source: https://www.thepiratescove.us/2022/01/15/house-democrats-will-tank-bidens-bbb-if-tax-cut-for-rich-is-removed/


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