Once again, President Joe Biden is breaking a promise to Americans, this time it is his pledge not to increase taxes on working-class Americans.
If the Democrats' $3.5 trillion infrastructure bill passes, the House Ways and Means Committee's portion of the bill will increase taxes on Americans making more than $50,000 a year, reports the Joint Committee on Taxation (JCT).
“The President remains committed to his pledge from the campaign that nobody making under $400,000 a year will have their taxes increased,” stated White House press secretary Jen Psaki back in March.
I guess that went flying out the window, huh?
The JCT analysis even found that the proposal would increase taxes on Americans in calendar year 2027 for those making between $30,000 to $40,000 per year.
The House Ways and Means Republicans noted many of the ways that the Democrat proposal would subsidize American families making more than $800,000 annually:
Rep. Drew Ferguson (R-GA), the chief deputy House Republican whip, said the Democrat proposal would benefit Democrats’ leftist allies.
Breitbart News’s John Carney noted that House Ways and Means Committee Chairman Richard Neal (D-MA) also left in the carried interest loophole that would benefit billion-dollar hedge funds.
Rep. Thomas Suozzi (D-NY), a moderate Democrat, has demanded that Democrats repeal former President Donald Trump’s limitation of the state and local tax (SALT) deduction. The SALT deduction primarily benefits wealthy, blue states such as New York, New Jersey, and Connecticut.
Democrats remain poised to increase taxes on most Americans with their $3.5 trillion proposal as Rep. Alexandria Ocasio-Cortez (D-NY) wore a dress with the message “tax the rich” to the 2021 Met Gala on Monday.
On Tuesday, National Republican Congressional Committee NRCC spokesman Mike Berg said, “Democrats have already broken their promise not to raise taxes on anyone making less than $400,000 per year. Whether it’s higher prices or higher taxes, Democrats are taking a sledgehammer to Americans’ paychecks.”
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