Washington, D.C. – Numerous times this year Senate Democrats like Nevada’s Catherine Cortez Masto have unanimously backed cutting taxes for millionaires and billionaires in places like Nancy Pelosi’s California and Chuck Schumer’s New York. So where does that leave middle-class Nevada families? Footing the bill for this outrageous giveaway to the rich.
Unsurprisingly, Nevadans are not fans of being forced to fund a tax break for Cortez Masto’s millionaire and billionaire donors. Read more from native-Nevadan Will Yepez in the Las Vegas Review-Journal about why Nevada families shouldn’t foot the bill for Cortez Masto’s tax break for the wealthy.
The stunning 2021 transformation of the Nevada Democratic Party could have an enormous impact on the fate of the $3.5 trillion spending package being debated in Congress. Progressive Democrats aligned with Sen. Bernie Sanders are now in control, and those progressive values are at the heart of a Democratic Party schism over the state and local tax deduction that progressives say is a giveaway to the rich.
They’re right: The SALT deduction is bad tax policy, and Nevada Democrats such as Sen. Catherine Cortez Masto should reject calls from her fellow lawmakers to enact this windfall for the wealthiest Americans […]
The repeal of the SALT deduction cap would indeed amount to a massive tax cut for the wealthy. According to the Tax Policy Center, the top 1 percent of households would receive 56 percent of the tax cut, and the top 20 percent of households would receive more than 96 percent of the break. You’d be hard pressed to find a more cut-and-dried example of tax policy that overwhelmingly benefits the upper class […]
However, not all representatives of these high-tax states are on board. Rep. Alexandria Ocasio-Cortez called the repeal of the SALT deduction cap “a giveaway to the rich” and “a gift to billionaires.” Sen. Sanders stated on the topic of the SALT deduction cap repeal, “You can’t be on the side of the wealthy and powerful if you are going to really fight for working families.” This puts Nevada Democrats in a difficult position — the Nevada State Democratic Party boasts the leadership of a former national delegate for Bernie Sanders’ 2020 campaign and the former co-chair of Nevada for Bernie.
As Congress debates the $3.5 trillion legislation, Sen. Cortez Masto has the ability to appeal to her progressive base and score a win for sound tax policy. In a Senate equally divided between Republicans and Democrats, she can exert her influence and block efforts to remove the limitation on the SALT deduction. On this important issue, the new state party ought to hold her accountable.
Repealing the SALT cap is a giveaway to the wealthy, and Democrats shouldn’t support the repeal […]
Sen. Cortez Masto and Nevada Democrats must do whatever they can during negotiations over the $3.5 trillion spending package to block this provision so Nevada’s taxpayers aren’t footing the bill for a big tax cut for wealthy Californians.
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