"Never let a good crisis go to waste."
House Speaker Nancy Pelosi was blasted for trying to pack pork in the last COVID-19 relief bill, but that hasn't stopped her from trying again.
Her latest attempt would eliminate a provision in the 2017 tax reform bill that caps how much taxpayers can deduct state and local income taxes (SALT) from their federal tax returns. This might be a reasonable provision to lighten the tax burden of hardworking Americans -- except for one problem: the provision only affects wealthy Americans like Pelosi.
Fox News reports:
House Speaker Nancy Pelosi, D-Calif., is pushing for a new stimulus bill that would roll back the state and local tax deduction (SALT) cap, a proposal that would predominantly help wealthy individuals — including most residents in Pelosi's district and perhaps even Pelosi herself.
A 2019 report from the Joint Committee on Taxation projected that of those who would face lower tax liability from the elimination of the SALT cap – which only affects those who itemize tax deductions – 94 percent earn at least $100,000. The government would lose out on $77.4 billion in tax dollars, with more than half of that amount being saved by taxpayers earning $1 million or more. Those earning more than $200,000 would reap most of the balance.
California's 12th congressional district, which Pelosi represents, is among the wealthiest in the U.S., with a median income of $113,919, according to census data. The average household income is $168,456 -- meaning most residents would benefit from any significant cut to SALT.
Pelosi and her husband have a property tax liability of approximately $198,337.62 considering their two homes, a winery and two commercial properties, public records show, indicating that the couple could reap substantial benefits in the event of a full SALT repeal.
Our "leaders" in D.C. don't hesitate to take advantage of a national catastrophe. We need different leaders, but more than that we need a different system in Washington -- a system that gets back to the founding values that made our nation great.
The Founders never imagined the federal government would grow so large and so powerful. They inscribed in the Constitution a limited national government that didn't have the power to capitalize on a national disaster. We've fallen away from those limited-government principles, but Article V gives us a way to get them back.
An Article V Convention of States can propose constitutional amendments that limit the power and jurisdiction of the federal government. In no uncertain terms, these amendments can clarify Washington's small role in daily American life and return that self-governing authority to the people and the states.
If you've had enough of politicians who enrich themselves on the backs of the American people, this is your movement. Sign the Convention of States Petition below to tell your state legislator you support the Article V cause, and join millions of Americans who have already joined the movement.
