In a speech last week introducing his proposed $6 trillion 2022 budget, President Biden claimed that the benefits of the Republican Partys Tax Cuts and Jobs.
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"What s wrong with raising the top tax rate to where it was during the Bush and Obama administrations in order to help the working and middle class?" Chris Wallace asked the Republican lawmaker.
Why a $10,000 Tax Deduction Could Hold Up Trillions in Stimulus Funds
The fight over SALT is a case study in the age-old conflict between constituent politics and national policy.
Credit.Party of One Studio
May 1, 2021, 5:00 a.m. ET
In 2017, congressional Republicans capped a tax break that benefits America’s highest-earning households and people with multimillion-dollar homes. Coastal Democrats have been trying to get it back ever since.
The break, the state and local tax deduction, known to policy wonks as SALT, does what it says it does. It allows people to deduct payments like state income and local property taxes from their federal tax bills. The deduction, previously unlimited, was capped at $10,000 as part of the 2017 tax bill, which was President Donald J. Trump’s main domestic achievement.
In G.O.P. Rebuttal, Tim Scott Accuses Biden of Pulling Nation âFurther Apartâ
The South Carolina senator did not offer a comprehensive alternative to President Bidenâs education and child-care plans. Instead, he called them âbig-government waste.â
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Sen. Tim Scott Delivers G.O.P. Rebuttal to Biden
Senator Tim Scott of South Carolina was chosen to deliver the G.O.P. rebuttal to President Bidenâs remarks on Wednesday as the party seeks to broaden its support among people of color.
Good evening. Iâm Senator Tim Scott from the great state of South Carolina. We just heard President Bidenâs first address to Congress. Our president seems like a good man. His speech was full of good words. But President Biden promised you a specific kind of leadership. You promise to unite a nation, to lower the temperature, to govern for all Americans, no matter how we voted. This was the pitch. You just heard it again. But our nation is starving for m