Thursday, August 26, 2021
Beware Democrats’ big tax-hike plans in infrastructure bill
Beware Democrats’ big tax-hike plans in infrastructure bill: House Democrats are now writing their version of the $3.5 trillion “human infrastructure” bill, detailing all the wish-list items they mean to ram through with zero Republican votes — including a host of economy-killing tax hikes.
No matter that the Trump-era tax cuts were bringing the best working-class wage gains in years before COVID hit: Dems mean to reverse them all and then some.
The Senate blueprint for the bill, for example, moves the corporate income-tax rate to 28 percent from the 21 percent level set by the 2017 Tax Cuts and Jobs Act. It also follows President Joe Biden’s call to double the federal capital-gains tax.
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