Shot. . .
President Trump wants $2 trillion of Phase 4 stimulus to be “VERY BIG & BOLD” and “focused solely on jobs and rebuilding the once great infrastructure of our Country”:
With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4
— Donald J. Trump (@realDonaldTrump) March 31, 2020
Chaser. . .
Nancy Pelosi wants Phase 4 to include a “full rollback of the limit on the state and local tax deduction, or SALT.” From the New York Times:
As lawmakers prepare for another round of fiscal stimulus to address economic fallout from the coronavirus pandemic, Speaker Nancy Pelosi suggested the next package include a retroactive rollback of a tax change that hurt high earners in states like New York and California.
A full rollback of the limit on the state and local tax deduction, or SALT, would provide a quick cash infusion in the form of increased tax rebates to an estimated 13 million American households — nearly all of which earn at least $100,000 a year.
Which means “more than half the benefits of such an effort would go to millionaires”:
“More than half the benefits of such an effort would go to millionaires.” https://t.co/kZuQOZBKgn
— Jonathan Swan (@jonathanvswan) March 31, 2020
Woman of the people!
.@jimtankersley reporting Pelosi wants to roll back SALT cap as part of Dems’ next coronavirus response package
More than half of $77B cost of repealing cap go to ppl earning more than $1 million, JCT has found
Almost all benefits go to +$200K earnershttps://t.co/uCO339KYM1
— Jeffrey Stein (@JStein_WaPo) March 31, 2020
No, we can’t make this up if we tried:
PELOSI – Coronovirus Economic Cure: Tax Breaks for Millionaires
Maybe this will help them afford box seats at the Kennedy Center.
Can’t make this up….https://t.co/rAZGzP9miq
— Rep. Kevin Brady (@RepKevinBrady) March 31, 2020
We’ll go out on a limb and say this won’t happen:
Pelosi’s terrible idea: Retroactively raising the cap on State and Local Tax deductions. Retroactive tax deductions are always a bad idea — a giveaway that get you nothing — and this one goes almost entirely to household on at least $100,000 a year. https://t.co/FPIkaNCLb1
— Justin Wolfers (@JustinWolfers) March 31, 2020
But she does like infrastructure spending, too:
— Gerald F Seib (@GeraldFSeib) March 31, 2020