As President-elect Joe Biden has released his $1.9 trillion Chinese coronavirus relief package that offers $1,400 stimulus checks to working and middle class Americans, rather than the $2,000 checks that President Trump had requested, Democrats are resurrecting their goal of providing tax breaks to the wealthiest of Americans, mostly concentrated in coastal blue states.
The plan once again being considered by Democrats on the House Ways and Means Committee would end the cap on the SALT tax deduction that was strictly limited by Trump in 2017. Ending the cap over the next two years would give millionaires and billionaires a massive windfall while costing about $136 billion.
In March 2020, the Committee for a Responsible Federal Budget wrote in an analysis that ending the cap would ensure that “the average household making over $1 million would receive over $100,000.”
