Bernie Sanders is slamming Democrats
On Tuesday, it was reported that a new provision was being added to the stalled $1.75 trillion social-spending plan that would overwhelmingly benefit wealthier Americans. The repeal of the SALT provision - which caps federal deductions for state and local tax at $10,000 - has long been championed by some Democratic lawmakers, who believe that the Trump-era law unfairly impacted those in high tax blue states, like New Jersey or California.
The repeal of the cap could end up costing the federal government far more than any proposed higher taxes on the wealthy and would result in a $30 billion net direct tax cut for the top 5%.
“That is beyond unacceptable. I will not support more tax breaks for billionaires," tweeted Sanders on Tuesday, linking to a CNN report on the analysis.
"Democrats campaigned and won on an agenda that demands that the very wealthy finally pay their fair share, not one that gives them more tax breaks," Sanders said in a statement. "I am open to a compromise approach which protects the middle class in high-tax states."
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