{"id":1033521,"date":"2021-11-19T18:13:54","date_gmt":"2021-11-19T23:13:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1033521"},"modified":"2021-11-19T18:14:01","modified_gmt":"2021-11-19T23:14:01","slug":"democrats-approve-billion-dollar-tax-cut-for-their-rich-blue-state-donors","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-approve-billion-dollar-tax-cut-for-their-rich-blue-state-donors\/","title":{"rendered":"Democrats Approve Billion-Dollar Tax Cut for Their Rich, Blue State Donors"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocrats-approve-billion-dollar-tax-cut-for-their-rich-blue-state-donors%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1033521&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">House Democrats approved hundreds of billions of dollars in tax cuts for their wealthy, blue state donors with the passage of President Joe Biden\u2019s \u201cBuild Back Better Act.\u201d<\/p>\n<p>On Monday, House Speaker Nancy Pelosi (D-CA) <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/19\/house-passes-behemoth-build-back-better-act\/\">oversaw<\/a> the passage of the filibuster-proof $1.75 billion budget reconciliation package that would deliver billions in tax breaks to the wealthiest residents of blue states if approved by the Senate and signed by Biden.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>As part of the package, the State and Local Tax (SALT) deduction cap would be increased from its current $10,000 to $80,000 which would effectively amount to a&nbsp;<a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/15\/joe-biden-democrats-seek-625-billion-tax-cut-for-wealthy-coastal-elites\/\">$625 billion&nbsp;tax cut<\/a> for the wealthiest Americans living in blue states \u2014 paid for by working and middle class Americans.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The Committee for a Responsible Federal Budget (CRFB) has noted that \u201ca household making $1 million per year will receive ten times as much from SALT cap relief as a middle-class family will receive from the child tax credit expansion.\u201d<\/p>\n<div id=\"attachment_18831354\" class=\"wp-caption alignnone\" readability=\"32\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/Screen-Shot-2021-11-15-at-5.33.18-PM-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-18831354\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/Screen-Shot-2021-11-15-at-5.33.18-PM-1.png\" alt=\"CRFB\" width=\"1642\" height=\"1284\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>(Chart via Committee for a Responsible Federal Budget)<\/em><\/p>\n<\/div>\n<p>\u201cRoughly 98 percent of the benefit from the increase would accrue to those making more than $100,000 per year, with more than 80 percent going to those making over $200,000,\u201d CRFB&nbsp;<a class=\"x5l\" href=\"https:\/\/www.crfb.org\/blogs\/build-back-better-salt-gains-rich-eclipse-child-credit-boost\" target=\"_blank\" rel=\"noopener external\">analysis<\/a>&nbsp;has found.<\/p>\n<p>The left-wing Tax Policy Center <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/17\/nolte-wapo-biden-plan-builds-wealthy-back-more-anyone-else\/\">has assailed<\/a> the tax cuts for billionaires, comparing it to the package\u2019s tax increases on middle class Americans.<\/p>\n<p>For instance, the package gives a tax cut to 66 percent of Americans earning more than $1 million annually while 78 percent of Americans earning $500,000 to $1 million will get a tax cut.&nbsp;At the same time, 27 percent of Americans earning $75,000 to $100,000 would see a tax increase along with 19 percent of Americans earning $50,000 to $75,000.<\/p>\n<p><strong><em>John Binder is a reporter for Breitbart News. Email him at&nbsp;<a href=\"https:\/\/www.breitbart.com\/cdn-cgi\/l\/email-protection\" class=\"__cf_email__\" data-cfemail=\"c7ada5aea9a3a2b587a5b5a2aeb3a5a6b5b3e9a4a8aae9\">[email&nbsp;protected]<\/a>&nbsp;Follow him on Twitter&nbsp;<a class=\"x5l\" href=\"https:\/\/twitter.com\/JxhnBxnder\" target=\"_blank\" rel=\"noopener external\">here<\/a>.&nbsp;<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Democrats approved hundreds of billions of dollars in tax cuts for their wealthy, blue state donors with the passage of President Joe Biden\u2019s \u201cBuild Back Better Act.\u201d On Monday, &#8230;<\/p>\n","protected":false},"author":14,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1033521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1033521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1033521"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1033521\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1033521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1033521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1033521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}