WVPA Sharing

U.S. Senator Capito joins GOP senators to criticize Build Back Better tax measure that would benefit the wealthy

By David Beard, The Dominion Post

MORGANTOWN, W.Va. – Sen. Shelley Moore Capito joined with other GOP senators on Wednesday to slam what they call a hypocritical tax break for the rich included in the House Democrats’ version of the Build Back Better bill.

“Supposedly,” Capito said, “as the president has explained, ‘Nobody under $400,000 is going to bear the tax burden. This is all aimed at helping those who need help the most.’ However, their second priority is to answer the call of those who were in the higher income tax brackets in the states many of them represent, particularly on the House side.”

The House Democratic proposal inserted into BBB before it came to the Senate would raise the state and local tax (SALT) deduction cap from $10,000 to $80,000.

The GOP senators cited data from the Committee for a Responsible Federal Budget, the Tax Policy Center and the Joint Committee on Taxation to show that 49% of people making $100,000 to $200,000, 65% of people making $200,000 to $500,000, 78% of people making $500,000 to $1 million and 66% of people making $1 million or more would see a tax cut…

To read more: https://www.dominionpost.com/2021/12/01/capito-joins-gop-senators-to-criticize-build-back-better-tax-measure-that-would-benefit-the-wealthy/

Comments are closed.

Subscribe to Our Newsletter