A group of Democrats seek to repeal the Trump-era limit to state and local tax deductions, adding that it is a part of President Biden’s signature spending plan. It sets up a battle with progressive Democrats who claim that doing so would result in a massive tax cut for those at the top. The so-called SALT deductibility cap, which will expire in 2026, restricts the amount of … [Read more...] about Democrats May Include Tax Cut That Benefits Wealthy Americans In Biden’s Huge Spending Plan
tax policy center
Biden’s “Death Tax” Kills Another 6 Million Jobs
Tax Policy Center senior fellow Howard Gleckman recently shared that Joe Biden’s proposals would have 60% of households facing a higher tax burden, an indicator that Biden would break one of his campaign promises not to raise taxes for those making $400,000 or less. According to the report, corporate tax increases would affect most households in 2022, with three-quarters of … [Read more...] about Biden’s “Death Tax” Kills Another 6 Million Jobs