Ever since President Donald Trump and Republicans passed historic tax cuts, Democrats have been promising to repeal them if elected back into office. Now the party has changed its tune, at least a little.
Democrats now say they won’t immediately inflict tax hikes on the American people should Democratic nominee Joe Biden win the White House and Democrats retake the Senate. Instead, they’ll wait to raise taxes on the so-called wealthy (the base range for who is considered a “wealthy” individual sometimes ensnares middle-class families in expensive states like California and New York) and corporations until after the economy has recovered from the coronavirus recession, The Hill reported.
“Instead, the priority will be on spending to create jobs and raise wages, investments in green technology and infrastructure and a national plan to contain the coronavirus pandemic,” the outlet reported. “Some of those stimulus and relief bills could include tax incentives for clean energy infrastructure and strengthening the nation’s supply chain and domestic manufacturing base. Tax relief in the form of child tax credits and earned income tax credits for lower- and middle-income families are also on the table.”
Democrats have changed their rhetoric as polls continue to show that even though Biden leads Trump nationally, the current president is getting higher marks on his handling of the economy. – READ MORE
Listen to the insightful Thomas Paine Podcast Below --