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REPORT: Second-Most Expensive Provision in Dems’ Tax-and-Spend Bill Hands Billions to Rich

The second most expensive item in Democrats’ reckless tax-and-spend agenda is a multi-billion dollar handout to America’s wealthiest earners. 

The Washington Post reports that the bill…

“…includes a $285 billion tax cut that would almost exclusively benefit high-income households over the next five years.”

“It’s the second-most expensive item in the legislation over the next five years, more costly than establishing a paid family and medical leave program, and nearly twice as expensive as funding home-medical services for the elderly and disabled, according to an analysis by the Committee for a Responsible Federal Budget.”

As Speaker Pelosi has often said “Show me your budget, show me your values.” 

KEY TAKEAWAYS:

  • Democrats’ Tax Cut for the Rich Prioritizes the Wealthy Over the Middle Class: The Committee for a Responsible Federal Budget found that the SALT tax carveout would “be nearly 50 times as large as the benefit of the expanded child tax credits for a typical family over five years.”
  • …While Democrats’ Hike Taxes Land on the Middle Class: Analysis from the Left-leaning Tax Policy Center (TPC) found that Democrats are providing a hefty tax giveaway to the top 5 percent, while hiking taxes on 20-30 percent of middle-income earners.

ONE-PAGER: Liberal Tax Policy Center: Dems’ Reconciliation Bill Cuts Taxes for Top 5 Percent, Hikes Taxes on Middle Class

  • American Families Are Already Suffering Under Bidenflation: Democrats’ tax increases and endless spending will worsen the deficit and inflation. According to Moody Analytics, consumer prices will rise 2.24 percent higher after the Biden infrastructure, American Rescue Plan, and Build Back Better spending than in a Biden-free economy.

ONE-PAGER: With Inflation at 40 Year High, American Families Can’t Afford $4 Trillion Tax & Spending Bill 

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