News

Pelosi pushes 'SALT shakeup' stimulus that could reduce her tax bill and enrich her wealthy district

Pelosi pushes 'SALT shakeup' stimulus that could reduce her tax bill and enrich her wealthy district

House Speaker Nancy Pelosi, D-Calif., is pushing for a new stimulus bill that would roll back the state and local tax deduction (SALT), a measure that would predominately help wealthy individuals making more than $100,000 -- including most residents in Pelosi's district and perhaps even Pelosi herself.

The top Democrat specifically declared this week it might be wise to “retroactively undo SALT,” which was enacted as part of the 2017 tax cuts and prevents households from deducting more than $10,000 per year of their state and local tax expenditures from federal tax bills.

Pelosi's 2020 property taxes in Washington, D.C. totaled $13,997.20 given her Georgetown condo and garage, valued at $1,646,730.

Her San Francisco property taxes totaled $51,480.02, plus $47,631.98 from her Napa winery, $64,874.66 from a San Francisco commercial property, and $20,353.76 for another building.

Pelosi's idea comes as House and Senate Republicans have sought to claw back the $25 million that the previous stimulus bill allocated to an arts center in Washington, D.C.

Source: www.foxnews.com
Please Help Us Keep this Site Running

Thank you for the donation

 
 
 
Powered by Stripe
Subscribe to our Newsletter

Latest News, Photos & Videos