AOC calls SALT deduction a 'gift to billionaires,' opposes effort to hold up infrastructure bill [View all]
Source: Business Insider
Rep. Alexandria Ocasio-Cortez, known as "AOC," is breaking with members of her party who want to undo a major part of Trump's 2017 tax cut, accusing them of favoring an unequivocal "giveaway to the rich."
That would be the federal cap on the state and local tax (SALT) deduction, which some Democrats in high-income-tax states have been working to roll back for four years now.
House Speaker Nancy Pelosi, for example, calls the cap on the SALT deduction "mean-spirited" and "politically targeted," arguing that former President Donald Trump's White House designed this policy to hurt the wealthy in blue states, in particular. Others even want to hold up one of President Joe Biden's top legislative priorities if they don't get their way. That would be the $2.3 trillion infrastructure plan Biden unveiled this month, the first of a two-part package, which he would like to fund with tax revenue rather than deficit-finance.
"I don't think we should be holding the infrastructure package hostage for a 100% repeal of SALT," Ocasio-Cortez told Huff Post's Igor Bobic, according to a pool report. "I think we can have a conversation about the policy, but it's a bit of an extreme position, to be frank."
Read more: https://www.msn.com/en-us/news/politics/aoc-calls-salt-deduction-a-gift-to-billionaires-opposes-effort-to-hold-up-infrastructure-bill/ar-BB1fHhy2?li=BBnb7Kz
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