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July 12, 2025
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The single biggest provision in Biden bill in first half-decade is tax cut for wealthy
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The most expensive item over the first half-decade of President Joe Biden’s climate and social spending legislation is a tax cut for the wealthy.
The Democratic Build Back Better Act, which passed the House on Friday morning, raises the current $10,000 cap on federal tax deductions for state and local taxes to $80,000, a move that leads to a significant tax cut for high earners in states with high taxes.
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https://www.washingtonexaminer.com/policy/the-single-biggest-provision-in-biden-bill-in-first-half-decade-is-tax-cut-for-wealthy
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OID: 1637523288 @ 11.21.21 19:34:48 (offset server time)
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