Some rich people will love at least one sweetener in Democrats' $3.5 trillion plan

Patric Hendershott; Brent W Ambrose; David C. Ling

Some rich people will love at least one sweetener in Democrats' $3.5 trillion plan

Patric Hendershott
, Brent W Ambrose
, David C. Ling

Research output: Contribution to specialist publication › Article

Abstract

While liberal lawmakers look for ways to raise taxes on the rich to finance their US$3.5 trillion spending package, some House Democrats are aiming to lower them.

Specifically, several Democrats from high-tax states such as New York and New Jersey want to eliminate or at least raise the $10,000 cap on the federal deduction of state and local taxes – also known as SALT – as part of the bill. The Democrats argue lifting the cap would help middle-class taxpayers and support homeownership.

Original language	English
Specialist publication	The Conversation
Publication status	Published - 23 Sept 2021

Keywords

Democrats
Taxpayers
Income tax
Taxes
The wealthy
progressive
Billionaires
Quick reads
Homeownership
Corporate Tax Cut 2017
Middle-class
Infrastructure 2021

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https://theconversation.com/some-rich-people-will-love-at-least-one-sweetener-in-democrats-3-5-trillion-plan-163464Licence: CC BY-ND

Cite this

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abstract = "While liberal lawmakers look for ways to raise taxes on the rich to finance their US\$3.5 trillion spending package, some House Democrats are aiming to lower them. Specifically, several Democrats from high-tax states such as New York and New Jersey want to eliminate or at least raise the \$10,000 cap on the federal deduction of state and local taxes – also known as SALT – as part of the bill. The Democrats argue lifting the cap would help middle-class taxpayers and support homeownership.",

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KW - Taxpayers

KW - Income tax

KW - Taxes

KW - The wealthy

KW - progressive

KW - Billionaires

KW - Quick reads

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KW - Corporate Tax Cut 2017

KW - Middle-class

KW - Infrastructure 2021

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Some rich people will love at least one sweetener in Democrats' $3.5 trillion plan

Abstract

Keywords

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Cite this