Analysis shows that as Democrats try to undo a tax increase Republicans implemented just 4 years ago on many middle class homeowners in high cost of living states, the benefits to the millionaires and billionaires is complicating Democrats’ message.
WASHINGTON – Democrats vowed that the wealthy would pay for their $1.75 trillion family care and climate change plan.shows that as Democrats try to undo a tax increase Republicans implemented just four years ago on many middle class homeowners in high cost of living states, the benefits to the millionaires and billionaires is complicating Democrats’ message that those same people should pay more in taxes.
President Joe Biden has repeatedly vowed that those who make less than $400,000 a year would not pay more in taxes — but those who make more should take on a larger share of of the nation's tax burden. Republicans, who are uniformly opposed to the Democrats $1.75 trillion Build Back Better Plan, have already tried to make the SALT cap a political liability, saying that Democrats are giving the wealthy a tax break.
“Republicans are making the argument vociferously and repeatedly that they’re going to say that Democrats now are easier on millionaires than they were in 2017,” Sen. Ron Wyden, chair of the Senate Finance Committee, said. “I think this makes the case for why we oughta deal with major tax avoidance.”
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